Goodyear Tire & Rubber Files 2024 Annual Report
Ticker: GT · Form: 10-K · Filed: Feb 14, 2025 · CIK: 42582
Sentiment: neutral
Topics: annual-report, financials, automotive
Related Tickers: MRK, BF.B, XPEV
TL;DR
GT filed its 2024 10-K. All systems go for tire sales.
AI Summary
Goodyear Tire & Rubber Co. (GT) filed its 10-K for the fiscal year ending December 31, 2024. The company, headquartered in Akron, OH, operates in the tires and inner tubes industry. Key financial details and operational aspects are disclosed in this comprehensive annual report.
Why It Matters
This filing provides investors and stakeholders with a detailed overview of Goodyear's financial performance, strategic initiatives, and risk factors for the past fiscal year, crucial for understanding the company's current standing and future outlook.
Risk Assessment
Risk Level: medium — The filing is a standard annual report, but the tire industry can be subject to economic fluctuations and supply chain disruptions.
Key Numbers
- 200 Innovation Way — Business Address (Location of Goodyear's headquarters)
- 330-796-2121 — Business Phone (Contact number for Goodyear)
Key Players & Entities
- Goodyear Tire & Rubber Co. (company) — Filer of the 10-K
- GT (company) — Ticker symbol for Goodyear Tire & Rubber Co.
- Akron, OH (location) — Headquarters of Goodyear Tire & Rubber Co.
- December 31, 2024 (date) — Fiscal year end for the reported period
- February 14, 2025 (date) — Filing date of the 10-K
FAQ
What is the primary business of Goodyear Tire & Rubber Co. as indicated in the filing?
Goodyear Tire & Rubber Co. is primarily involved in the 'Tires and Inner Tubes' industry, as per its Standard Industrial Classification code.
When was this 10-K filing submitted to the SEC?
This 10-K filing was submitted on February 14, 2025.
What is the fiscal year end date for the period covered by this report?
The fiscal year end date for the period covered by this report is December 31, 2024.
Where is Goodyear Tire & Rubber Co. headquartered?
Goodyear Tire & Rubber Co. is headquartered in Akron, OH, at 200 Innovation Way.
What is the SEC file number for this filing?
The SEC file number for this filing is 001-01927.
Filing Stats: 4,449 words · 18 min read · ~15 pages · Grade level 14.5 · Accepted 2025-02-14 12:26:28
Key Financial Figures
- $18,878 million — the world. In 2024, our net sales were $18,878 million and Goodyear net income was $70 million
- $70 million — 878 million and Goodyear net income was $70 million. We develop, manufacture, distribute an
- $2 billion — eliver: (1) gross proceeds in excess of $2 billion from portfolio optimization by pursuing
- $1.3 billion — nual, run-rate benefit of approximately $1.3 billion by the end of 2025, (3) top line action
- $200 million — nual, run-rate benefit of approximately $200 million by the end of 2025, (4) segment operati
- $526 million — angible assets, for a purchase price of $526 million. SRI will also pay us an up-front trans
- $105 million — s an up-front transition support fee of $105 million for our support in transitioning the Du
- $905 million — 's OTR business for a purchase price of $905 million in cash, subject to certain adjustments
Filing Documents
- gt-20241231.htm (10-K) — 8477KB
- gt-ex19_1.htm (EX-19.1) — 89KB
- gt-ex21_1.htm (EX-21.1) — 154KB
- gt-ex22_1.htm (EX-22.1) — 21KB
- gt-ex23_1.htm (EX-23.1) — 3KB
- gt-ex24_1.htm (EX-24.1) — 29KB
- gt-ex31_1.htm (EX-31.1) — 28KB
- gt-ex31_2.htm (EX-31.2) — 28KB
- gt-ex32_1.htm (EX-32.1) — 18KB
- 0000950170-25-020763.txt ( ) — 40346KB
- gt-20241231.xsd (EX-101.SCH) — 3652KB
- gt-20241231_htm.xml (XML) — 11347KB
Risk Factors
Risk Factors 11 1B Unresolved Staff Comments 22 1C Cybersecurity 22 2
Legal Proceedings
Legal Proceedings 25 PART II 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 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 27 7A
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 54 8
Financial Statements
Financial Statements 55 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 116 9A
Controls and Procedures
Controls and Procedures 116 9B Other Information 116 PART III 10 Directors, Executive Officers and Corporate Governance 117 11
Executive Compensation
Executive Compensation 117 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 117 13 Certain Relationships and Related Transactions, and Director Independence 117 14 Principal Accountant Fees and Services 117 PART IV 15 Exhibits and Financial Statement Schedules 118 16 Form 10-K Summary 118 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 2024, our net sales were $18,878 million and Goodyear net income was $70 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 800 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 53 manufacturing facilities in 20 countries, including the United States, and we have marketing operations in almost every country around the world. We employ approximately 68,000 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 November 15, 2023, fo