Goodyear Tire & Rubber Co. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Goodyear Tire & Rubber Co. has submitted its 2023 annual 10-K filing, detailing its financial performance and operational information.</b>

AI Summary

GOODYEAR TIRE & RUBBER CO /OH/ (GT) filed a Annual Report (10-K) with the SEC on February 13, 2024. Goodyear Tire & Rubber Co. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Ohio and operates in the Tires and Inner Tubes industry (SIC 3011). The filing includes financial data and disclosures as of December 31, 2023. Key dates mentioned include April 30, 2033, February 29, 2024, August 31, 2028, January 31, 2023, and August 31, 2025. The report references various accounting standards and financial elements, including prepaid expenses, finance lease liabilities, and other non-operating income/expense.

Why It Matters

For investors and stakeholders tracking GOODYEAR TIRE & RUBBER CO /OH/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Goodyear's financial health and strategic positioning for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial disclosures and references to specific accounting standards offer insights into the company's accounting practices, debt obligations, and other financial commitments, aiding in risk assessment.

Risk Assessment

Risk Level: medium — GOODYEAR TIRE & RUBBER CO /OH/ shows moderate risk based on this filing. The filing is a standard 10-K, which inherently contains a broad range of financial and operational data. Specific risks are detailed within the full report, but the filing itself indicates a medium risk profile due to the nature of the tire industry and the company's scale.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Goodyear's performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 20231231 — Fiscal Year End (Conformed Period of Report)
• 20240213 — Filing Date (Filed as of Date)
• 0000042582 — Central Index Key (Company Identifier)
• 3011 — SIC Code (Industry Classification)

Key Players & Entities

• GOODYEAR TIRE & RUBBER CO /OH/ (company) — Filer name
• 0000042582 (company) — Central Index Key
• 3011 (company) — Standard Industrial Classification for Tires and Inner Tubes
• OH (company) — State of Incorporation
• 330-796-2121 (company) — Business Phone
• 20231231 (date) — Conformed Period of Report
• 20240213 (date) — Filed as of Date

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of reporting period for the 10-K
• 2024-02-13: Filing Date — Date the 10-K was officially filed with the SEC

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, containing detailed financial and operational information for the fiscal year.)

SIC Code

Standard Industrial Classification code used to categorize businesses by industry. (Identifies Goodyear's primary business sector as 'Tires and Inner Tubes'.)

Key Financial Figures

• $20,066 million — the world. In 2023, our net sales were $20,066 million and Goodyear net loss was $689 million.
• $689 million — 0,066 million and Goodyear net loss was $689 million. We develop, manufacture, distribute an
• $3.1 billion — ck consideration totaling approximately $3.1 billion. Cooper Tire's results of operations ha
• $2 billion — eliver: (1) gross proceeds in excess of $2 billion from portfolio optimization by pursuing
• $1 billion — driving an annual, run-rate benefit of $1 billion by the end of 2025, (3) top line action
• $300 million — driving an annual, run-rate benefit of $300 million by the end of 2025, (4) segment operati

Filing Documents

• gt-20231231.htm (10-K) — 7033KB
• gt-ex4_1.htm (EX-4.1) — 23KB
• gt-ex21_1.htm (EX-21.1) — 141KB
• gt-ex22_1.htm (EX-22.1) — 19KB
• gt-ex23_1.htm (EX-23.1) — 2KB
• gt-ex24_1.htm (EX-24.1) — 26KB
• gt-ex31_1.htm (EX-31.1) — 25KB
• gt-ex31_2.htm (EX-31.2) — 25KB
• gt-ex32_1.htm (EX-32.1) — 16KB
• gt-ex97_1.htm (EX-97.1) — 30KB
• 0000950170-24-014240.txt (&nbsp;) — 34967KB
• gt-20231231.xsd (EX-101.SCH) — 3725KB
• gt-20231231_htm.xml (XML) — 9308KB

Risk Factors

Risk Factors 11 1B Unresolved Staff Comments 21 1C Cybersecurity 21 2

Legal Proceedings

Legal Proceedings 24 PART II 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 53 8

Financial Statements

Financial Statements 54 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 115 9A

Controls and Procedures

Controls and Procedures 115 9B Other Information 115 PART III 10 Directors, Executive Officers and Corporate Governance 116 11

Executive Compensation

Executive Compensation 116 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 116 13 Certain Relationships and Related Transactions, and Director Independence 116 14 Principal Accountant Fees and Services 116 PART IV 15 Exhibits and Financial Statement Schedules 117 16 Form 10-K Summary 117 Index to Financial Statement Schedules FS- 1 Index of Exhibits X- 1

Signatures

Signatures S- 1 Table of Contents PART I.

BUSINESS

ITEM 1. BUSINESS. BUSINESS OF GOODYEAR The Goodyear Tire & Rubber Company (the "Company") is an Ohio corporation organized in 1898. Its principal offices are located at 200 Innovation Way, Akron, Ohio 44316-0001. Its telephone number is (330) 796-2121. The terms "Goodyear," "Company" and "we," "us" or "our" wherever used herein refer to the Company together with all of its consolidated U.S. and foreign subsidiary companies, unless the context indicates to the contrary. We are one of the world's leading manufacturers of tires, engaging in operations in most regions of the world. In 2023, our net sales were $20,066 million and Goodyear net loss was $689 million. We develop, manufacture, distribute and sell tires for most applications. We also manufacture and sell rubber-related chemicals for various applications. We are one of the world's largest operators of commercial truck service and tire retreading centers. We operate approximately 950 retail outlets where we offer our products for sale to consumer and commercial customers and provide repair and other services. We manufacture our products in 55 manufacturing facilities in 22 countries, including the United States, and we have marketing operations in almost every country around the world. We employ approximately 71,000 full-time and temporary associates worldwide. AVAILABLE INFORMATION We make available free of charge on our website, http://www.goodyear.com, our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports as soon as reasonably practicable after we file or furnish such reports to the Securities and Exchange Commission (the "SEC"). Our reports filed with the SEC may be found on the SEC's website at http://www.sec.gov. The information on our website and the SEC's website is not incorporated by reference in or considered to be a part of this Annual Report on Form 10-K. DESCRIPTION OF GOODYEAR'S BUSINESS On June 7, 2021 (the "Clo

View Full Filing

View this 10-K filing on SEC EDGAR