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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended ~~March~~June 3130, 2025

Commission File Number: 1-1927

THE GOODYEAR TIRE & RUBBER COMPANY

(Exact Name of Registrant as Specified in Its Charter)


Ohio						34-0253240
(State or Other Jurisdiction of Incorporation or Organization)						(I.R.S. Employer Identification No.)


200 Innovation Way, Akron, Ohio						44316-0001
(Address of Principal Executive Offices)						(Zip Code)

(330) 796-2121

(Registrant’s Telephone Number, Including Area Code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading
Symbol(s)

Name of each exchange
on which registered

Common Stock, Without Par Value

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☑

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.

Number of Shares of Common Stock,Without Par Value, Outstanding at ~~April~~July 3031, 2025: ~~285~~286,~~703~~046,~~218~~462

Table of Contents

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION
	~~ITEM 1. FINANCIAL STATEMENTS~~	ITEM 1. FINANCIAL STATEMENTS
	~~NOTES TO CONSOLIDATED FINANCIAL STATEMENTS~~	NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
	~~ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~	ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
	~~ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK~~	ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
	~~ITEM 4. CONTROLS AND PROCEDURES~~	ITEM 4. CONTROLS AND PROCEDURES
PART II. OTHER INFORMATION
	~~ITEM 1. LEGAL PROCEEDINGS~~	ITEM 1. LEGAL PROCEEDINGS
	~~ITEM 1A. RISK FACTORS~~	ITEM 1A. RISK FACTORS
	~~ITEM 5. OTHER INFORMATION~~	ITEM 5. OTHER INFORMATION
EX-2.1
EX-2.2
EX-22.1
EX-10.1
EX-31.1
EX-10.2
EX-31.2
EX-22.1
EX-32.1
EX-31.1
EX-101.INS INSTANCE DOCUMENT
EX-31.2
EX-101.SCH SCHEMA DOCUMENT
EX-32.1
EX-104
EX-101.INS INSTANCE DOCUMENT
EX-101.SCH SCHEMA DOCUMENT
EX-104

Table of Contents

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions, except per share amounts)		2025					2024		2025		2024
(In millions, except per share amounts)	2025			2024
Net Sales (Note 3)		$	4,465				$	4,570	$	8,718	$	9,107
Net Sales (Note 3)	$	4,253		$	4,537
Cost of Goods Sold		3,705					3,627		7,218		7,349
Cost of Goods Sold		3,513			3,715
Selling, Administrative and General Expense		692					731		1,342		1,427
Selling, Administrative and General Expense		650			696
Rationalizations (Note 4)		59					19		140		41
Rationalizations (Note 4)		81			22
Interest Expense		112					130		227		256
Interest Expense		115			126
Other (Income) Expense (Note 5)		31					26		56		59
Other (Income) Expense (Note 5)		25			28
Net (Gain) on Asset Sales (Note 2)		(439)					(96)		(701)		(94)
Net (Gain) Loss on Asset Sales (Note 2)		(262	)		2
Income before Income Taxes		305					133		436		69
Income (Loss) before Income Taxes		131			(52	)
United States and Foreign Tax Expense (Note 6)		24					60		37		66
United States and Foreign Tax Expense (Note 6)		13			6
Net Income		281					73		399		3
Net Income (Loss)		118			(58	)
Less: Minority Shareholders’ Net Income (Loss)		27					(6)		30		(7)
Less: Minority Shareholders’ Net Income (Loss)		3			(1	)
Goodyear Net Income		$	254				$	79	$	369	$	10
Goodyear Net Income (Loss)	$	115		$	(57	)
Goodyear Net Income — Per Share of Common Stock
Goodyear Net Income (Loss) — Per Share of Common Stock
Basic		$	0.88				$	0.28	$	1.28	$	0.04
Basic	$	0.40		$	(0.20	)
Weighted Average Shares Outstanding (Note 7)		287					287		287		286
Weighted Average Shares Outstanding (Note 7)		287			286
Diluted		$	0.87				$	0.28	$	1.27	$	0.04
Diluted	$	0.40		$	(0.20	)
Weighted Average Shares Outstanding (Note 7)		290					288		290		288
Weighted Average Shares Outstanding (Note 7)		289			286

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions)		2025					2024		2025		2024
(In millions)	2025			2024
Net Income		$	281				$	73	$	399	$	3
Net Income (Loss)	$	118		$	(58	)
Other Comprehensive Income (Loss):
Other Comprehensive Income (Loss):
Foreign currency translation, net of tax of $4 and $6 in 2025 (($1) and ($3) in 2024)		(7)					(50)		12		(59)
Foreign currency translation, net of tax of $2 in 2025 (($2) in 2024)		19			(9	)
Reclassification adjustment for amounts recognized in income, net of tax of $0 and $0 in 2025 ($0 and $0 in 2024)		(2)					—		8		—
Reclassification adjustment for amounts recognized in income, net of tax of $0 in 2025 ($0 in 2024)		10			—
Defined benefit plans:
Defined benefit plans:
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost, net of tax of $7 and $13 in 2025 ($6 and $13 in 2024)		19					20		38		41
Amortization of prior service cost and unrecognized gains and losses included in total benefit cost, net of tax of $6 in 2025 ($7 in 2024)		19			21
Change in net actuarial gains and losses, net of tax of $(1) and $2 in 2025 ($6 and $7 in 2024)		(2)					6		8		10
Change in net actuarial losses, net of tax of $3 in 2025 ($1 in 2024)		10			4
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures, net of tax of $0 and $0 in 2025 ($0 and ($1) in 2024)		—					—		2		(4)
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures, net of tax of $0 in 2025 (($1) in 2024)		2			(4	)
Deferred derivative gain:
Reclassification adjustment for amounts recognized in income, net of tax of $0 in 2025 ($0 in 2024)		—			1
Reclassification adjustment for amounts recognized in income, net of tax of $0 and $0 in 2025 ($0 and $0 in 2024)		—					—		—		1
Other Comprehensive Income (Loss)		608			13		(24)		68		(11)
Comprehensive Income (Loss)		~~178~~289			~~(45~~	)	49		467		(8)
Less: Comprehensive Income (Loss) Attributable to Minority Shareholders		632			(4	)	(7)		38		(11)
Goodyear Comprehensive Income (Loss)	$	172		$	(41	)
Goodyear Comprehensive Income		$	257				$	56	$	429	$	3

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	March 31,			December 31,
(In millions, except share data)		June 30,2025					December 31,2024
(In millions, except share data)	2025			2024
Assets:
Assets:
Current Assets:
Current Assets:
Cash and Cash Equivalents		$	785				$	810
Cash and Cash Equivalents	$	902		$	810
Accounts Receivable, less Allowance — $97 ($84 in 2024)		3,016					2,482
Accounts Receivable, less Allowance — $89 ($84 in 2024)		2,942			2,482
Inventories:
Inventories:
Raw Materials		680					728
Raw Materials		796			755
Work in Process		207					207
Work in Process		231			213
Finished Products		3,141					2,619
Finished Products		2,921			2,629
		4,028					3,554
		3,948			3,597
Assets Held for Sale (Note 1)		544					466
Assets Held for Sale (Note 1)		197			466
Prepaid Expenses and Other Current Assets		512					277
Prepaid Expenses and Other Current Assets		380			277
Total Current Assets		8,885					7,589
Total Current Assets		8,369			7,632
Goodwill		716					756
Goodwill		757			756
Intangible Assets		677					805
Intangible Assets		686			805
Deferred Income Taxes (Note 6)		1,743					1,686
Deferred Income Taxes (Note 6)		1,715			1,686
Other Assets		1,149					1,052
Other Assets		1,112			1,052
Operating Lease Right-of-Use Assets		1,087					951
Operating Lease Right-of-Use Assets		943			951
Property, Plant and Equipment, less Accumulated Depreciation — $12,215 ($12,212 in 2024)		8,002					8,082
Property, Plant and Equipment, less Accumulated Depreciation — $12,485 ($12,212 in 2024)		8,129			8,082
Total Assets		$	22,259				$	20,921
Total Assets	$	21,711		$	20,964
Liabilities:
Liabilities:
Current Liabilities:
Current Liabilities:
Accounts Payable — Trade		$	4,010				$	4,092
Accounts Payable — Trade	$	4,142		$	4,052
Compensation and Benefits (Notes 11 and 12)		606					606
Compensation and Benefits (Notes 11 and 12)		565			606
Other Current Liabilities		1,599					1,089
Other Current Liabilities		1,214			1,089
Notes Payable and Overdrafts (Note 9)		499					558
Notes Payable and Overdrafts (Note 9)		436			558
Operating Lease Liabilities due Within One Year		209					200
Operating Lease Liabilities due Within One Year		199			200
Long Term Debt and Finance Leases due Within One Year (Note 9)		778					832
Long Term Debt and Finance Leases due Within One Year (Note 9)		300			832
Total Current Liabilities		7,701					7,377
Total Current Liabilities		6,856			7,337
Operating Lease Liabilities		933					804
Operating Lease Liabilities		799			804
Long Term Debt and Finance Leases (Note 9)		6,559					6,392
Long Term Debt and Finance Leases (Note 9)		7,302			6,392
Compensation and Benefits (Notes 11 and 12)		814					789
Compensation and Benefits (Notes 11 and 12)		781			789
Deferred Income Taxes (Note 6)		108					108
Deferred Income Taxes (Note 6)		109			108
Other Long Term Liabilities		850					628
Other Long Term Liabilities		778			628
Total Liabilities		16,965					16,098
Total Liabilities		16,625			16,058
Commitments and Contingent Liabilities (Note 13)
Commitments and Contingent Liabilities (Note 13)
Shareholders’ Equity:
Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Goodyear Shareholders’ Equity:
Common Stock, no par value:
Common Stock, no par value:
Authorized, 450 million shares, Outstanding shares — 286 million in 2025 (285 million in 2024)		286					285
Authorized, 450 million shares, Outstanding shares — 286 million in 2025 (285 million in 2024)		286			285
Capital Surplus		3,164					3,159
Capital Surplus		3,160			3,159
Retained Earnings		5,450					5,081
Retained Earnings		5,271			5,156
Accumulated Other Comprehensive Loss (Note 15)		(3,784)					(3,844)
Accumulated Other Comprehensive Loss (Note 15)		(3,787	)		(3,844	)
Goodyear Shareholders’ Equity		5,116					4,681
Goodyear Shareholders’ Equity		4,930			4,756
Minority Shareholders’ Equity — Nonredeemable		178					142
Minority Shareholders’ Equity — Nonredeemable		156			150
Total Shareholders’ Equity		5,294					4,823
Total Shareholders’ Equity		5,086			4,906
Total Liabilities and Shareholders’ Equity		$	22,259				$	20,921
Total Liabilities and Shareholders’ Equity	$	21,711		$	20,964

The accompanying notes are an integral part of these consolidated financial statements.

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THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(Unaudited)

												Accumulated							Minority
		Common Stock								CapitalSurplus					RetainedEarnings					AccumulatedOtherComprehensive Loss					GoodyearShareholders'Equity		MinorityShareholders'Equity — Non-Redeemable		TotalShareholders'Equity
												Other				Goodyear			Shareholders'			Total
(In millions, except share data)		Shares			Amount
	Common Stock					Capital			Retained			Comprehensive				Shareholders'			Equity — Non-			Shareholders'
Balance at December 31, 2024
(In millions, except share data)	Shares		Amount			Surplus			Earnings			Loss				Equity			Redeemable			Equity
(after deducting 39,313,644 common treasury shares)		284,974,263			$	285				$	3,159				$	5,081				$	(3,844)				$	4,681	$	142	$	4,823
Balance at December 31, 2024
Net income (loss)															115										115		3		118
(after deducting 39,313,644 common treasury shares)		284,974,263	$	285		$	3,159		$	5,156		$	(3,844	)		$	4,756		$	150		$	4,906
Other comprehensive income (loss)																				57					57		3		60
Net income (loss)										115							115			3			118
Total Comprehensive Income (Loss)																									172		6		178
Other comprehensive income (loss)													57				57			3			60
Stock-based compensation plans										6															6				6
Total Comprehensive Income (Loss)																	172			6			178
Common stock issued from treasury		674,461			1					(5)															(4)				(4)
Stock-based compensation plans							6										6						6
Balance at March 31, 2025
Common stock issued from treasury		674,461		1			(5	)									(4	)					(4	)
(after deducting 38,639,183 common treasury shares)		285,648,724			$	286				$	3,160				$	5,196				$	(3,787)				$	4,855	$	148	$	5,003
Balance at March 31, 2025
Net income (loss)															254										254		27		281
(after deducting 38,639,183 common treasury shares)		285,648,724	$	286		$	3,160		$	5,271		$	(3,787	)		$	4,930		$	156		$	5,086
Other comprehensive income (loss)																				3					3		5		8
Total Comprehensive Income (Loss)																									257		32		289
Stock-based compensation plans										5															5				5
Dividends declared																											(2)		(2)
Common stock issued from treasury		365,245								(1)															(1)				(1)
Balance at June 30, 2025
(after deducting 38,273,938 common treasury shares)		286,013,969			$	286				$	3,164				$	5,450				$	(3,784)				$	5,116	$	178	$	5,294

											Accumulated						Minority
											Other			Goodyear			Shareholders'			Total
	Common Stock				Capital			Retained			Comprehensive			Shareholders'			Equity — Non-			Shareholders'
(In millions, except share data)	Shares		Amount		Surplus			Earnings			Loss			Equity			Redeemable			Equity
Balance at December 31, 2023
(after deducting 40,501,644 common treasury shares)		283,786,263	$	284	$	3,133		$	5,086		$	(3,835	)	$	4,668		$	169		$	4,837
Net income (loss)									(57	)					(57	)		(1	)		(58	)
Other comprehensive income (loss)												16			16			(3	)		13
Total Comprehensive Income (Loss)															(41	)		(4	)		(45	)
Stock-based compensation plans						11									11						11
Dividends declared																		(2	)		(2	)
Common stock issued from treasury		900,744		1		(4	)								(3	)					(3	)
Balance at March 31, 2024
(after deducting 39,600,900 common treasury shares)		284,687,007	$	285	$	3,140		$	5,029		$	(3,819	)	$	4,635		$	163		$	4,798

There were no dividends declared or paid during the three and six months ended June 30, 2025.

There were no dividends declared or paid during the three months ended March 31, 2025 and 2024.

The accompanying notes are an integral part of these consolidated financial statements.

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THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF ~~CASH~~SHAREHOLDERS’ ~~FLOWS~~EQUITY

(Unaudited)

	Three Months Ended
		Common Stock							CapitalSurplus		RetainedEarnings		AccumulatedOtherComprehensive Loss		GoodyearShareholders'Equity		MinorityShareholders'Equity — Non-Redeemable		TotalShareholders'Equity
	March 31,
(In millions, except share data)		Shares					Amount
(In millions)	2025			2024
Balance at December 31, 2023
Cash Flows from Operating Activities:
(after deducting 40,501,644 common treasury shares)		283,786,263					$	284	$	3,133	$	5,035	$	(3,835)	$	4,617	$	162	$	4,779
Net Income (Loss)	$	118		$	(58	)
Net income (loss)											(69)				(69)		(1)		(70)
Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:
Other comprehensive income (loss)													16		16		(3)		13
Depreciation and Amortization		270			284
Total Comprehensive Income (Loss)															(53)		(4)		(57)
Amortization and Write-Off of Debt Issuance Costs		6			3
Stock-based compensation plans									11						11				11
Provision for Deferred Income Taxes (Note 6)		(31	)		(42	)
Dividends declared																	(2)		(2)
Net Pension Curtailments and Settlements		4			(5	)
Common stock issued from treasury		900,744					1		(4)						(3)				(3)
Net Rationalization Charges (Note 4)		81			22
Balance at March 31, 2024
Rationalization Payments		(65	)		(55	)
(after deducting 39,600,900 common treasury shares)		284,687,007					$	285	$	3,140	$	4,966	$	(3,819)	$	4,572	$	156	$	4,728
Net (Gains) Losses on Asset Sales (Note 2)		(262	)		2
Net income (loss)											79				79		(6)		73
Operating Lease Expense		78			85
Other comprehensive income (loss)													(23)		(23)		(1)		(24)
Operating Lease Payments		(71	)		(69	)
Total Comprehensive Income (Loss)															56		(7)		49
Pension Contributions and Direct Payments		(41	)		(16	)
Stock-based compensation plans									6						6				6
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Dividends declared																	(5)		(5)
Accounts Receivable		(431	)		(325	)
Balance at June 30, 2024
Inventories		(365	)		(167	)
(after deducting 39,600,900 common treasury shares)		284,687,007					$	285	$	3,146	$	5,045	$	(3,842)	$	4,634	$	144	$	4,778
Accounts Payable — Trade		46			(47	)
Compensation and Benefits		(28	)		(38	)
Other Current Liabilities		95			(45	)
Other Assets and Liabilities		58			20
Total Cash Flows from Operating Activities		(538	)		(451	)
Cash Flows from Investing Activities:
Capital Expenditures		(259	)		(318	)
Asset Dispositions		720			108
Notes Receivable		(7	)		(21	)
Other Transactions		(22	)		—
Total Cash Flows from Investing Activities		432			(231	)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred		409			282
Short Term Debt and Overdrafts Paid		(535	)		(230	)
Long Term Debt Incurred		5,951			3,964
Long Term Debt Paid		(5,627	)		(3,332	)
Common Stock Issued		(4	)		(3	)
Transactions with Minority Interests in Subsidiaries		—			(2	)
Debt Related Costs and Other Transactions		17			(18	)
Total Cash Flows from Financing Activities		211			661
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash		9			(10	)
Net Change in Cash, Cash Equivalents and Restricted Cash		114			(31	)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period		864			985
Cash, Cash Equivalents and Restricted Cash at End of the Period	$	978		$	954

There were no dividends declared or paid during the three and six months ended June 30, 2024.

The accompanying notes are an integral part of these consolidated financial statements.

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THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


	Six Months Ended June 30,
(In millions)	2025		2024
Cash Flows from Operating Activities:
Net Income	$	399	$	3
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:
Depreciation and Amortization	544		546
Amortization and Write-Off of Debt Issuance Costs	10		7

Provision for Deferred Income Taxes (Note 6)	(55)		(6)
Net Pension Curtailments and Settlements	4		(5)
Net Rationalization Charges (Note 4)	140		41
Rationalization Payments	(204)		(105)
Net Gains on Asset Sales (Note 5)	(701)		(94)
Loss (Gain) on Insurance Recoveries for Damaged Property, Plant and Equipment	—		(50)
Operating Lease Expense	159		164
Operating Lease Payments	(141)		(139)
Pension Contributions and Direct Payments	(53)		(29)
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:
Accounts Receivable	(498)		(354)
Inventories	(512)		(397)
Accounts Payable — Trade	(59)		(18)
Compensation and Benefits	2		6
Other Current Liabilities	312		(91)
Other Assets and Liabilities	(65)		3
Total Cash Flows used in Operating Activities	(718)		(518)
Cash Flows from Investing Activities:
Capital Expenditures	(466)		(634)
Insurance Recoveries for Damaged Property, Plant and Equipment	—		37
Cash Proceeds from Sale and Leaseback Transactions (Note 5)	—		16
Asset Dispositions	1,328		108



Long Term Securities Redeemed	—		1
Notes Receivable	1		(17)
Other Transactions	(26)		1
Total Cash Flows from (used in) Investing Activities	837		(488)
Cash Flows from Financing Activities:
Short Term Debt and Overdrafts Incurred	557		595
Short Term Debt and Overdrafts Paid	(632)		(464)
Long Term Debt Incurred	8,888		7,068
Long Term Debt Paid	(8,925)		(6,280)
Common Stock Issued	(5)		(3)
Transactions with Minority Interests in Subsidiaries	(1)		(2)
Debt Related Costs and Other Transactions	11		(18)
Total Cash Flows (used in) from Financing Activities	(107)		896
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	26		(23)
Net Change in Cash, Cash Equivalents and Restricted Cash	38		(133)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	864		985
Cash, Cash Equivalents and Restricted Cash at End of the Period	$	902	$	852

The accompanying notes are an integral part of these consolidated financial statements.

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THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1. ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared by The Goodyear Tire & Rubber Company (the “Company,” “Goodyear,” “we,” “us” or “our”) in accordance with Securities and Exchange Commission (“SEC”) rules and regulations and generally accepted accounting principles in the United States of America ("U.S. GAAP") and in the opinion of management contain all adjustments (including normal recurring adjustments) necessary to fairly state the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”).

Operating results for the three and six months ended ~~March 31~~June 30, 2025 are not necessarily indicative of the results expected in subsequent quarters or for the year ending December 31, 2025.

Revision of Previously Issued Financial Statements

In preparing the consolidated financial statements as of and for the three and six months ended June 30, 2025, we identified errors in our previously issued financial statements related to our historical computation of currency remeasurement of our foreign operations in Turkey, which was designated as a highly inflationary economy beginning April 1, 2022. Upon that designation, the operations and balance sheet in that country should be remeasured into our parent company reporting currency, with remeasurement gains and losses recognized in earnings to reflect the impact of currency translation on our financial results. Our computation did not reflect the full inflationary impact. The identified errors impacted our previously issued 2022, 2023 and 2024 annual and interim financial statements. The impact of the errors on the previously issued consolidated statements of operations and comprehensive income for the quarter ended March 31, 2025 were de minimis. There were no impacts on previously reported cash flows from operating, investing and financing activities in any prior periods.

We evaluated the errors in accordance with SEC Staff Accounting Bulletin Nos. 99 and 108 and determined that the related impacts were not material in any previously issued annual or interim financial statements. We revised the prior period amounts presented in these financial statements to correct the errors. The applicable notes to the accompanying financial statements have also been corrected to reflect the impact of the revisions of the previously filed consolidated interim financial statements. A summary of the revisions to the previously issued financial information is included in Note to the Consolidated Financial Statements No.16, Revision of Previously Issued Financial Statements.

Recently Issued Accounting Standards

On December 14, 2023, the Financial Accounting Standards Board ("FASB") issued a final Accounting Standards Update ("ASU") to improve income tax disclosures. The new standard requires enhanced disclosures primarily related to existing rate reconciliation and income taxes paid information and improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and requiring income taxes paid to be disaggregated by jurisdiction. It also includes certain amendments to improve the effectiveness of income tax disclosures. The standards update is effective for annual periods beginning after December 15, 2024. We are currently assessing the impact of this standards update on our disclosures in the notes to the consolidated financial statements.

On November 4, 2024, the FASB issued a final ASU to require disaggregated disclosure of income statement expenses. This new standard requires certain expense categories, including selling expenses, to be disaggregated in the notes to the consolidated financial statements. The standards update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. We are currently assessing the impact of this standards update on our disclosures in the notes to the consolidated financial statements.

Principles of Consolidation

The consolidated financial statements include the accounts of all legal entities in which we hold a controlling financial interest. A controlling financial interest generally arises from our ownership of a majority of the voting shares of our subsidiaries. We would also hold a controlling financial interest in variable interest entities if we are considered to be the primary beneficiary. Investments in companies in which we do not own a majority interest and we have the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Investments in other companies are primarily carried at cost. All intercompany balances and transactions have been eliminated in consolidation.

~~Assets and Liabilities Held for Sale~~7

Assets and liabilities are classified as held for sale when management approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer and other actions required to complete the sale have been initiated, the sale of the assets is probable and expected to be completed within one year, and it is unlikely that significant changes will be made to the plan. When all of these criteria have been met, the assets and liabilities are classified as held for sale in the balance sheet. Assets classified as held for sale are reported at the lower of their carrying value or fair value less costs to sell. Depreciation of assets ceases upon designation as held for sale. At March 31, 2025, assets classified as held for sale of $197 million related to the sale of the Dunlop brand were included within Assets Held for Sale in the Consolidated Balance Sheets. At December 31, 2024, assets classified as held for sale of $466 million and liabilities classified as held for sale of $51 million related to the sale of our off-the-road ("OTR") tire business were included within Assets Held for Sale and Other Current Liabilities, respectively,

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inAssets ~~the~~and ~~Consolidated~~Liabilities ~~Balance~~Held ~~Sheets. Refer to Note to the Consolidated Financial Statements No. 2, Divestitures,~~ for ~~additional information.~~Sale

Assets and liabilities are classified as held for sale when management approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer and other actions required to complete the sale have been initiated, the sale of the assets is probable and expected to be completed within one year, and it is unlikely that significant changes will be made to the plan. When all of these criteria have been met, the assets and liabilities are classified as held for sale in the balance sheet. Assets classified as held for sale are reported at the lower of their carrying value or fair value less costs to sell. Depreciation of assets ceases upon designation as held for sale. At June 30, 2025, Assets Held for Sale of $544 million, $455 million of which related to the sale of our Chemical business and $89 million of which related to the sale of the Dunlop brand, and Other Current Liabilities classified as held for sale of $171 million related to the sale of our Chemical business, were included in the Consolidated Balance Sheets. At December 31, 2024, assets classified as held for sale of $466 million and liabilities classified as held for sale of $51 million related to the sale of our off-the-road ("OTR") tire business were included within Assets Held for Sale and Other Current Liabilities, respectively, in the Consolidated Balance Sheets. Refer to Note to the Consolidated Financial Statements No. 2, Divestitures, for additional information.

Restricted Cash

The following table provides a reconciliation of Cash, Cash Equivalents and Restricted Cash as reported within the Consolidated Statements of Cash Flows:

	March 31,
			June 30,
~~(In millions)~~	~~2025~~	(In millions)	~~2024~~2025		2024
~~Cash and Cash Equivalents~~	$	~~902~~Cash and Cash Equivalents	$	~~893~~785	$	789
~~Restricted Cash~~		76Restricted Cash	117	61	63
~~Total Cash, Cash Equivalents and Restricted Cash~~	$	~~978~~Total Cash, Cash Equivalents and Restricted Cash	$	~~954~~902	$	852

Restricted Cash primarily represents amounts required to be set aside for accounts receivable factoring programs. The restrictions lapse when cash from factored accounts receivable is remitted to the purchaser of those receivables. Restricted cash at June 30, 2025 also includes amounts collected in connection with ongoing agreements related to the sale of our OTR tire business. At both ~~March 31~~June 30, 2025 and 2024, restricted cash was recorded in Prepaid Expenses and Other Current Assets in the Consolidated Balance Sheets.

Reclassifications and Adjustments

Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation.

NOTE 2. DIVESTITURES

Net gains on asset sales were $~~262~~439 million and $96 million for the ~~quarter~~three months ended ~~March~~June 3130, 2025 and ~~net~~2024, ~~losses~~respectively. Net gains on asset sales were $2701 million and $94 million for the ~~quarter~~six months ended ~~March~~June 3130, 2025 and 2024, respectively. None of our divestitures meet the criteria for presentation as discontinued operations as they do not represent a strategic shift that will have a major effect on our operations or financial results.

On February 3, 2025, we completed the sale of our OTR tire business to The Yokohama Rubber Company, Limited (“Yokohama”) pursuant to the terms of the Share and Asset Purchase Agreement, dated as of July 22, 2024 (the “OTR Purchase Agreement”). In conjunction with the sale of the OTR tire business, we entered into several ancillary agreements, including a trademark license agreement, whereby we license certain trademarks to Yokohama for an initial period of ten years from the date of the sale, a product supply agreement, pursuant to which we supply to Yokohama certain OTR tires for an initial period of up to five years, and a transition services agreement, pursuant to which we are providing certain support services for a period of up to eighteen months. The activity related to these agreements is primarily recorded in Prepaid Expenses and Other Current Assets and Other Current Liabilities in the Consolidated Balance Sheets.

As a result of the transaction, considering the receipt of the purchase price of $905 million, subject to certain adjustments set forth in the OTR Purchase Agreement, amounts allocated to deferred income related to the trademark license agreement of $90 million, amounts allocated to deferred revenue related to the product supply agreement of $95 million, and transaction costs of $26 million, and based upon the net assets of the OTR tire business of $434 million, we recorded an estimated pre-tax gain of $260 million during the first quarter of 2025. We estimated the fair value of the deferred income related to the trademark license agreement using the relief-from-royalty method, with the most critical assumptions based on projected revenue, royalty rate and discount rate. We estimated the fair value of the deferred revenue related to the product supply agreement using a cost-plus-margin approach, with the most critical assumption based on projected cost of goods sold. The pre-tax income from the assets sold included within the Consolidated Statements of Operations was $12 23 million for the three months ended March 31, 2024. These amounts exclude any ongoing obligations related to the product supply agreement and transition service agreement, as well as any amortization of deferred revenue or income.

On May 7, 2025, we completed the sale of our rights to the Dunlop brand in Europe, North America and Oceania for consumer, commercial and other specialty tires, together with certain associated intellectual property and other intangible assets, for a purchase price of $526 million to Sumitomo Rubber Industries, Ltd. ("SRI") pursuant to the terms of the Purchase Agreement, dated as of January 7, 2025 (the "Dunlop Purchase Agreement"). SRI also paid us an up-front transition support fee of $105 million for our support in transitioning the Dunlop brand, related intellectual property and Dunlop customers to SRI. SRI also acquired our existing Dunlop tire inventory for approximately $104 million. We also entered into a number of ancillary agreements, including (a) a transition license agreement, pursuant to which we will continue to manufacture, sell and distribute Dunlop-branded consumer tires in Europe from the closing of the transaction until December 31, 2025, and during which we will pay SRI a royalty on such Dunlop sales; (b) a transition offtake agreement, pursuant to which we will sell to SRI certain Dunlop-branded consumer tire products for a period of up to five years, commencing after termination or expiration of the transition license agreement; and (c) we will license back the Dunlop brand from SRI for commercial tires in Europe on a long-term basis, subject to a royalty on sales. As a result of the transaction, considering the receipt of the purchase price and based upon the net 8

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~~assets~~months ofended ~~the~~June ~~Dunlop~~30, ~~brand~~2024 asand of$35 million ~~March~~for ~~31,~~the ~~2025,~~six wemonths ~~estimate~~ended weJune ~~will~~30, ~~record~~2024. aThese ~~pre-tax~~amounts ~~gain~~exclude ofany ~~approximately~~ongoing ~~$395~~obligations ~~million~~related ~~during~~to the ~~second~~product ~~quarter~~supply agreement and transition services agreement, as well as any amortization of ~~2025~~deferred revenue or income.

On May 7, 2025, we completed the sale of our rights to the Dunlop brand in Europe, North America and Oceania for consumer, commercial and other specialty tires, together with certain associated intellectual property and other intangible assets, for a purchase price of $526 million to Sumitomo Rubber Industries, Ltd. ("SRI") pursuant to the terms of the Purchase Agreement, dated as of January 7, 2025 (as amended, the "Dunlop Purchase Agreement"). SRI also paid us an up-front transition support fee of $105 million for our support in transitioning the Dunlop brand, related intellectual property and Dunlop customers to SRI. SRI also acquired our existing Dunlop tire inventory for approximately $104 million. We also entered into a number of ancillary agreements, including (a) a transition license agreement, pursuant to which we will continue to manufacture, sell and distribute Dunlop-branded consumer tires in Europe from the closing of the transaction until December 31, 2025, and during which we will pay SRI a royalty on such Dunlop sales; (b) a transition offtake agreement, pursuant to which we will sell to SRI certain Dunlop-branded consumer tire products for a period of up to five years, commencing after termination or expiration of the transition license agreement; and (c) we will license back the Dunlop brand from SRI for commercial tires in Europe on a long-term basis, subject to a royalty on sales.

As a result of the transaction, we received gross proceeds of $735 million at closing for the Dunlop brand, related intellectual property and other intangible assets, the transition support fee and the tire inventory. We allocated $105 million of those proceeds related to the up-front transition support fee to deferred income, which will be recognized over the combined lives of the transition license and transition offtake agreements. We also allocated $86 million of those proceeds to deferred income for tire inventory in Europe that will not transfer ownership until the termination of the transition license agreement. We recognized an estimated pre-tax gain of $385 million based on the net assets sold of $133 million during the second quarter of 2025, net of transaction costs of $26 million.

On May 22, 2025, we entered into an Asset Purchase Agreement (the “Chemical Purchase Agreement”) with G-3 Chickadee Purchaser, LLC, a Delaware limited liability company (the “Purchaser”). Pursuant to the Chemical Purchase Agreement and upon the terms and subject to the conditions set forth therein, we have agreed to sell to the Purchaser, and the Purchaser has agreed to acquire from us, the polymer chemicals business of the Company (the “Chemical Business”) for a purchase price of approximately $650 million in cash, subject to certain adjustments. The assets to be acquired, and the liabilities to be assumed, by the Purchaser are generally those primarily related to the Chemical Business, including our chemical plants in Houston, Texas and Beaumont, Texas and a research and development facility in Akron, Ohio. The closing of the transaction is subject to the satisfaction of customary closing conditions. The Chemical Purchase Agreement contains customary termination rights, including if the closing of the transaction has not occurred on or prior to November 22, 2025, subject to certain limitations.

The Chemical Purchase Agreement also contemplates that, at the closing date, we will enter into a number of ancillary agreements with the Purchaser (or their respective affiliates). These agreements include, among others: (a) a master supply agreement, pursuant to which the Purchaser will, or will cause its affiliates to, supply to us certain polymer chemical products for a period of fifteen (15) years after the closing, (b) a transition services agreement, pursuant to which we will provide certain transition services to the Purchaser for the Chemical Business for a period of up to eighteen (18) months from the closing, and (c) a patent and know-how license agreement, pursuant to which the Purchaser will license back to us certain intellectual property related to the Chemical Business for use in connection with certain retained businesses.

Net gains on asset sales for the three and six months ended June 30, 2025 also include a $55 million ($26 million after-tax and minority) gain related to the sale of property in Asia Pacific. Net gains on asset sales for the three and six months ended June 30, 2024 also include an $80 million gain related to the sale of a distribution center in Europe, Middle East and Africa ("EMEA").

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NOTE 3. NET SALES

The following tables show disaggregated net sales from contracts with customers by major source:

	Three Months Ended March 31, 2025
		Three Months Ended June 30, 2025
				Europe, Middle East
(In millions)		Americas				Europe, Middle Eastand Africa				Asia Pacific		Total
(In millions)	Americas			and Africa			Asia Pacific		Total
Tire unit sales		$	2,132			$	1,120			$	434	$	3,686
Tire unit sales	$	2,008		$	1,116		$	451	$	3,575
Other tire and related sales		199				181				25		405
Other tire and related sales		175			124			21		320
Retail services and service related sales		196				43				—		239
Retail services and service related sales		181			37			—		218
Chemical sales		126				—				—		126
Chemical sales		133			—			—		133
Other		9				—				—		9
Other		5			—			2		7
Net Sales by reportable segment		$	2,662			$	1,344			$	459	$	4,465
Net Sales by reportable segment	$	2,502		$	1,277		$	474	$	4,253

	Three Months Ended March 31, 2024
		Three Months Ended June 30, 2024
				Europe, Middle East
(In millions)		Americas				Europe, Middle Eastand Africa				Asia Pacific		Total
(In millions)	Americas			and Africa			Asia Pacific		Total
Tire unit sales		$	2,175			$	1,093			$	566	$	3,834
Tire unit sales	$	2,122		$	1,186		$	574	$	3,882
Other tire and related sales		196				150				23		369
Other tire and related sales		183			132			18		333
Retail services and service related sales		187				36				3		226
Retail services and service related sales		169			29			9		207
Chemical sales		134				—				—		134
Chemical sales		110			—			—		110
Other		5				—				2		7
Other		4			—			1		5
Net Sales by reportable segment		$	2,697			$	1,279			$	594	$	4,570
Net Sales by reportable segment	$	2,588		$	1,347		$	602	$	4,537

Tire unit sales consist of consumer, commercial, farm and OTR tire sales, including the sale of new Company-branded tires through Company-owned retail channels. OTR tire sales primarily consist of tires sold to Yokohama pursuant to our product supply agreement. Other tire and related sales consist of aviation, race and motorcycle tire sales, retread sales and other tire related sales. Sales of tires in this category are not included in reported tire unit information. Retail services and service related sales consist of automotive services performed for customers through our Company-owned retail channels, and includes service related products. Chemical sales relate to the sale of synthetic rubber and other chemicals to third parties, and exclude intercompany sales. Other sales include items such as franchise fees and ancillary tire parts.


	Six Months Ended June 30, 2025
(In millions)	Americas		Europe, Middle East and Africa		Asia Pacific		Total
Tire unit sales	$	4,140	$	2,236	$	885	$	7,261
Other tire and related sales	374		305		46		725
Retail services and service related sales	377		80		—		457
Chemical sales	259		—		—		259
Other	14		—		2		16
Net Sales by reportable segment	$	5,164	$	2,621	$	933	$	8,718

When we receive consideration from a customer prior to transferring goods or services under the terms of a sales contract, we record deferred revenue, which represents a contract liability. Deferred revenue included in Other Current Liabilities in the Consolidated Balance Sheets totaled $28 million and $13 million at March 31, 2025 and December 31, 2024, respectively. Deferred revenue included in Other Long Term Liabilities in the Consolidated Balance Sheets totaled $79 million and $6 million at March 31, 2025 and December 31, 2024, respectively. Revenue deferred during the three months ended March 31, 2025 primarily relates to the product supply agreement we entered into in connection with the sale of our OTR tire business. We recognize deferred revenue after we have transferred control of the goods or services to the customer and all revenue recognition criteria are met.


	Six Months Ended June 30, 2024
(In millions)	Americas		Europe, Middle East and Africa		Asia Pacific		Total
Tire unit sales	$	4,297	$	2,279	$	1,140	$	7,716
Other tire and related sales	379		282		41		702
Retail services and service related sales	356		65		12		433
Chemical sales	244		—		—		244
Other	9		—		3		12
Net Sales by reportable segment	$	5,285	$	2,626	$	1,196	$	9,107

~~The~~Tire ~~following~~unit ~~table~~sales ~~presents~~consist of consumer, commercial, farm and OTR tire sales, including the ~~balance~~sale of ~~deferred~~new ~~revenue~~Company-branded ~~related~~tires through Company-owned retail channels. OTR tire sales in 2025 primarily consist of tires sold to ~~contracts~~Yokohama ~~with~~pursuant to our product supply agreement. Other tire and related sales consist of aviation, race and motorcycle tire sales, retread sales and other tire related sales. Sales of tires in this category are not included in reported tire unit information. Retail services and service related sales consist of automotive services performed for customers through our Company-owned retail channels, and ~~changes~~includes ~~during~~service related products. Chemical sales relate to the ~~three~~sale ~~months~~of ~~ended~~synthetic ~~March~~rubber 31and other chemicals to third parties, ~~2025:~~and exclude intercompany sales. Other sales include items such as franchise fees and ancillary tire parts.

(In millions)
Balance at December 31, 2024	$	19
Revenue deferred during period		134
Revenue recognized during period		(45	)
Impact of foreign currency translation		(1	)
Balance at March 31, 2025	$	107

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When we receive consideration from a customer prior to transferring goods or services under the terms of a sales contract, we record deferred revenue, which represents a contract liability. Deferred revenue included in Other Current Liabilities in the Consolidated Balance Sheets totaled $32 million and $13 million at June 30, 2025 and December 31, 2024, respectively. Deferred revenue included in Other Long Term Liabilities in the Consolidated Balance Sheets totaled $87 million and $6 million at June 30, 2025 and December 31, 2024, respectively. We recognize deferred revenue after we have transferred control of the goods or services to the customer and all revenue recognition criteria are met. Revenue deferred during the three and six months ended June 30, 2025 primarily relates to the product supply agreement we entered into in connection with the sale of our OTR tire business.

The following table presents the balance of deferred revenue related to contracts with customers, and changes during the six months ended June 30, 2025:


(In millions)
Balance at December 31, 2024	$	19
Revenue deferred during period	188
Revenue recognized during period	(90)
Impact of foreign currency translation	2
Balance at June 30, 2025	$	119

NOTE 4. COSTS ASSOCIATED WITH RATIONALIZATION PROGRAMS

In order to improve our global competitiveness and as part of our execution of the Goodyear Forward transformation plan ("Goodyear Forward"), we have implemented, and are implementing, rationalization actions to reduce high-cost and excess manufacturing capacity and operating and administrative costs.

The following table presents a roll-forward of the liability balance between periods:

	Associate-
(In millions)		Associate-Related Costs					Other Costs				Total
(In millions)	Related Costs			Other Costs				Total
Balance at December 31, 2024		$	396				$	1			$	397
Balance at December 31, 2024	$	396		$	1			$	397
2025 Charges(1)		111					34				145
2025 Charges(1)		66			17				83
Incurred, net of foreign currency translation of $38 million and $0 million, respectively		(132)					(34)				(166)
Incurred, net of foreign currency translation of $13 million and $0 million, respectively		(34	)		(18	)			(52	)
Reversed to the Statement of Operations		(9)					—				(9)
Reversed to the Statement of Operations		(6	)		—				(6	)
Balance at June 30, 2025		$	366				$	1			$	367
Balance at March 31, 2025	$	422		$	—			$	422
(1) Charges of $145 million exclude $4 million of benefit plan termination benefit charges recorded in Rationalizations in the Statement of Operations

~~Charges~~During the second quarter of 2025, we approved a proposed plan to close our manufacturing facility in Kariega, South Africa in the EMEA business unit. The plan includes approximately 900 job reductions, including associates and contracted positions, and is expected to be substantially complete by the end of 2025. The total charges associated with this action are expected to be between $83100 million and $110 million, ~~exclude~~of which $445 million to $55 million ofare ~~benefit~~expected ~~plan~~to ~~termination~~be ~~benefit~~cash charges ~~recorded~~primarily infor ~~Rationalizations~~associate-related inand other exit costs and the ~~Statement~~remaining ofcosts ~~Operations~~are expected to be non-cash charges primarily for accelerated depreciation and other asset-related charges. The rationalization plan remains subject to consultation with employee representative bodies. We have accrued approximately $26 million for this plan at June 30, 2025.

During the first quarter of 2025, we ~~reached an agreement with the United Steelworkers and~~ approved a rationalization plan to eliminate our production of commercial tires in our Danville, Virginia tire manufacturing facility ("Danville") in order to reduce our production cost per tire in Americas. The plan includes approximately 850 job reductions, including associates and contracted positions. ~~Danville will continue to produce aviation tires and conduct mixing operations.~~ We expect to substantially complete this rationalization plan by the end of 2025. Total pre-tax charges are expected to be between $130 million and $140 million, of which $80 million to $90 million is expected to be cash charges primarily for associate-related and other exit costs and the remaining costs are expected to be non-cash charges primarily for accelerated depreciation, pension termination benefit charges and other asset-related charges. We have ~~accrued~~ approximately $50 23 million accrued for this plan at ~~March 31~~June 30, 2025.

During the first quarter of 2025, we approved a plan to reduce Selling, Administrative and General expenses (“SAG”) headcount in Americas and Corporate. The proposed plan includes approximately 80 net headcount reductions. Total estimated pre-tax charges are expected to be approximately $6 million. We have accrued approximately $5 2 million for this plan at ~~March 31~~June 30, 2025.

The remainder of the accrual balance at ~~March 31~~June 30, 2025 includes $~~271~~ 219 million related to the closures of our Fulda, Germany ("Fulda") and our Fürstenwalde, Germany ("Fürstenwalde") tire manufacturing facilities, $59 56 million related to the rationalization and workforce reorganization plan in Europe, Middle East and Africa ("EMEA"), which reflects $6 million of reversals due to voluntary attrition, $9 million related to the plan to open a shared service center in Costa Rica and to exit certain Commercial Tire and Service Center ("CTSC") locations, $5 million related to the closed Amiens, France tire manufacturing facility, $4 million related to plans to reduce SAG headcount, $4 million related to a global workforce reorganization plan to improve our cost structure, $2 million related to the closure of Cooper Tire's Melksham, United Kingdom tire manufacturing facility ("Melksham"), and various other plans to reduce headcount and improve operating efficiency.

~~At March 31, 2025 and December 31, 2024, $338 million and $296 million were recorded in Other Current Liabilities in the Consolidated Balance Sheets, respectively.~~11

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rationalization and workforce reorganization plan in EMEA, which reflects $7 million of reversals due to voluntary attrition, $7 million related to the plan to open a shared service center in Costa Rica and to exit certain Commercial Tire and Service Center ("CTSC") locations, $5 million related to the closed Amiens, France tire manufacturing facility, $4 million related to a global workforce reorganization plan to improve our cost structure, $3 million related to plans to reduce SAG headcount, $2 million related to the closure of Cooper Tire's Melksham, United Kingdom tire manufacturing facility ("Melksham"), and various other plans to reduce headcount and improve operating efficiency.

At June 30, 2025 and December 31, 2024, $291 million and $296 million were recorded in Other Current Liabilities in the Consolidated Balance Sheets, respectively.

The following table shows net rationalization charges included in Income (Loss) before Income Taxes:

	Three Months Ended
		Three Months EndedJune 30,						Six Months EndedJune 30,
	March 31,
(In millions)		2025				2024		2025		2024
(In millions)	2025			2024
Current Year Plans
Current Year Plans
Associate Severance and Other Related Costs		$	32			$	13	$	89	$	23
Associate Severance and Other Related Costs	$	57		$	10
Benefit Plan Curtailments/Settlements/Termination Benefits		—				—		4		—
Benefit Plan Curtailments/Settlements/Termination Benefits		4			—
Other Exit Costs		2				1		6		1
Other Exit Costs		4			—
Current Year Plans - Net Charges		$	34			$	14	$	99	$	24
Current Year Plans - Net Charges	$	65		$	10
Prior Year Plans
Prior Year Plans
Associate Severance and Other Related Costs		$	10			$	(9)	$	13	$	(8)
Associate Severance and Other Related Costs	$	3		$	1
Other Exit Costs		15				14		28		25
Other Exit Costs		13			11
Prior Year Plans - Net Charges		$	25			$	5	$	41	$	17
Prior Year Plans - Net Charges	$	16		$	12
Total Net Charges		$	59			$	19	$	140	$	41
Total Net Charges	$	81		$	22
Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, net		$	41			$	43	$	87	$	94
Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs, net	$	46		$	51

Substantially all of the new charges for the three and six months ended ~~March 31~~June 30, 2025 and 2024 relate to future cash outflows. Net current year plan charges for the three months ended ~~March 31~~June 30, 2025 primarily relate to the plans approved during the first and second quarter of 2025 described above. ~~and~~Net current year plan charges for the six months ended June 30, 2025 also include a $4 million termination benefits charge for one of our defined benefit pension plans related to headcount reductions at Danville. Net current year plan charges for the three months ended ~~March 31~~June 30, 2024 primarily relate to the plan to open a new shared service center in Costa Rica. Net current year plan charges for the six months ended June 30, 2024 also include the closure of our tire manufacturing facility in Malaysia.

Net prior year plan charges for the three months ended ~~March 31~~June 30, 2025 include $15 million related to the closures of Fulda and Fürstenwalde, $2 5 million related to the rationalization and workforce reorganization plan in EMEA, $1 2 million related to the closure of Melksham, $12 million related to plans to reduce SAG headcount, $1 million related to our closure of certain retail and warehouse locations in Americas, and reversals of $13 million primarily related to voluntary attrition. Net prior year plan charges for the six months ended June 30, 2025 include $30 million related to the ~~plan~~closures of Fulda and Fürstenwalde, $7 million related to ~~open~~the arationalization ~~shared~~and ~~service~~workforce ~~center~~reorganization plan in ~~Costa~~EMEA, ~~Rica~~$3 million ~~and~~related to ~~exit~~the ~~certain~~closure ~~CTSC~~of ~~locations~~Melksham, $1 3 million related to plans to reduce SAG headcount, $2 million related to our closure of certain retail and warehouse locations in Americas, and reversals of $6 9 million primarily related to voluntary attrition. Net prior year plan charges for the three months ended ~~March~~June 3130, 2024 include $46 million related to the closures of Fulda and Fürstenwalde, $3 million related to the closure of Melksham, $2 million related to ~~the~~a ~~closure~~plan ofto ~~Fulda~~improve profitability in Australia and ~~Fürstenwalde~~New Zealand, $2 million related to ~~the~~a ~~permanent~~plan ~~closure~~to ofstreamline our ~~Gadsden~~EMEA distribution network, ~~Alabama~~$1 million ~~tire~~related ~~manufacturing~~to ~~facility~~our closure of certain retail and warehouse locations in Americas, $1 million related to plans to reduce SAG headcount, and reversals of $12 million primarily related to ~~our~~voluntary ~~global~~attrition. ~~workforce~~Net ~~reorganization~~prior year plan tocharges ~~improve~~for ~~our~~the ~~cost~~six ~~structure~~months ended June 30, $12024 include $8 million related to the ~~rationalization~~closures of Fulda and ~~workforce~~Fürstenwalde, ~~reorganization~~$7 million ~~plan~~related into ~~EMEA~~the closure of Melksham, $1 3 million related to athe plan in Australia and New Zealand, $13 million related to the permanent closure of our Gadsden, Alabama tire manufacturing facility, $2 million related to the plan to streamline our EMEA distribution network, $2 million related to the closure of certain retail and warehouse locations in Americas, ~~and~~$1 million ~~reversals~~related ofto $1plans ~~million~~to ~~for~~reduce ~~actions~~SAG noheadcount, ~~longer~~and ~~needed~~reversals ~~for~~of ~~their~~$13 million ~~originally~~related ~~intended~~to ~~purpose~~voluntary attrition.

Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs for both the three and six months ended ~~March 31~~June 30, 2025 primarily relate to the announced closures of Fulda and Fürstenwalde, ~~as well as~~ the plan to reduce our production capacity at Danville, and the proposed plan to close our manufacturing facility in South Africa.

Asset write-offs (recoveries) and accelerated depreciation for the three months ended March 31, 2024 primarily relate to plans to improve our cost structure through announced closures of a development center in the U.S. and certain plants and facilities globally.12

Ongoing rationalization plans had approximately $1,050 million in charges incurred prior to 2025 and have approximately $150 million in expected charges to be incurred in future periods.

Approximately 950 associates will be released under plans initiated in 2025, of which approximately 650 were released through March 31, 2025. In the first three months of 2025, approximately 200 associates were released under plans initiated in prior years. Approximately 2,450 associates remain to be released under all ongoing rationalization plans.

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Asset write-offs (recoveries), accelerated depreciation, and accelerated lease costs for both the three and six months ended June 30, 2024 primarily relate to the announced closures of our Fulda, Fürstenwalde and Malaysia tire manufacturing facilities, as well as the closure of a development center and warehouse in the U.S.

Ongoing rationalization plans had approximately $1,050 million in charges incurred prior to 2025 and have approximately $200 million in expected charges to be incurred in future periods.

Approximately 1,800 associates will be released under plans initiated in 2025, of which approximately 750 were released through June 30, 2025. In the first six months of 2025, approximately 700 associates were released under plans initiated in prior years. Approximately 2,700 associates remain to be released under all ongoing rationalization plans.

NOTE 5. OTHER (INCOME) EXPENSE

	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions)		2025					2024		2025		2024
(In millions)	2025			2024
Non-service related pension and other postretirement benefits cost		$	23				$	27	$	49	$	50
Non-service related pension and other postretirement benefits cost	$	26		$	23
Financing fees and financial instruments expense		16					16		31		31
Financing fees and financial instruments expense		15			15
Net foreign currency exchange (gains) losses		10					(2)		6		4
Net foreign currency exchange (gains) losses		(4	)		1
Interest income		(8)					(12)		(18)		(27)
Interest income		(10	)		(15	)
General and product liability expense - discontinued products		1					2		3		4
General and product liability expense - discontinued products		2			2
Royalty and other (income)		(15)					(6)		(26)		(11)
Royalty income		(11	)		(5	)
Miscellaneous expense		4					1		11		8
Miscellaneous (income) expense		7			7
		$	31				$	26	$	56	$	59
	$	25		$	28

Non-service related pension and other postretirement benefits cost consists primarily of the interest cost, expected return on plan assets and amortization components of net periodic cost, as well as curtailments and settlements which are not related to rationalization plans. Pension expense for the ~~three~~six months ended ~~March 31~~June 30, 2025 includes a pension settlement charge of $4 million resulting from total lump sum payments exceeding annual service and interest cost of the applicable plan. Pension expense for the six months ended June 30, 2024 includes a pension settlement credit of $5 million related to a premium refund on the purchase of a group annuity contract for the Cooper Tire U.S. salaried defined benefit pension plan in 2023. For further information, refer to Note to the Consolidated Financial Statements No. 11, Pension, Savings and Other Postretirement Benefit Plans.

Net foreign currency exchange (gains) losses for the three and six months ended ~~March~~June 3130, 2025 includes an $11 million loss and a $413 million loss, respectively, related to the Turkish lira and a $2 million loss and a $4 million gain, ~~primarily~~respectively, related to the euro,. ~~and~~Net foreign currency exchange (gains) losses for the three months ended ~~March~~June 3130, 2024 includes a $1 million loss ofrelated to the Turkish lira and a $12 million gain related to the euro. Net foreign currency exchange (gains) losses for the six months ended June 30, 2024 includes a $4 million ~~primarily~~loss related to the ~~Argentine~~Turkish ~~peso~~lira.

~~Miscellaneous~~Royalty ~~(income)~~and ~~expense~~other income for the three and six months ended ~~March~~June 3130, 2025 includes ~~transaction~~$8 million and ~~other~~$14 million, ~~costs~~respectively, ofprimarily related to royalty income, and $57 million and $12 million, respectively, related to OTR transition license agreement royalty income and transition services income related to the ~~sale~~sales of the OTR tire business and the Dunlop brand. ~~Miscellaneous~~Royalty ~~(income)~~and ~~expense~~other income for the three and six months ended ~~March~~June 3130, 2024 ~~includes~~is anprimarily ~~$8 million loss~~ related to ~~the~~royalty ~~sale of receivables in Argentina~~income.

~~Other~~Miscellaneous ~~(Income)~~expense ~~Expense~~for ~~also~~the ~~includes~~three ~~financing fees~~ and ~~financial~~six ~~instruments~~months ~~expense~~ended June 30, ~~which~~2025 ~~consists~~includes oftransaction ~~commitment~~costs ~~fees~~of $2 million and ~~charges~~$6 million, ~~incurred~~respectively, inprimarily ~~connection~~related ~~with~~to ~~financing~~the ~~transactions;~~sale ~~interest~~of ~~income;~~the ~~general~~Chemical ~~and~~Business. ~~product~~Miscellaneous ~~liability~~ expense -for ~~discontinued~~the ~~products,~~six ~~which~~months ~~consists~~ended ofJune ~~charges~~30, ~~for~~2024 ~~claims~~includes ~~against~~an us$8 million loss related ~~primarily~~ to ~~asbestos~~the ~~personal~~sale ~~injury claims, net~~ of ~~probable~~receivables ~~insurance~~in ~~recoveries; and royalty income~~Argentina.

Other (Income) Expense also includes financing fees and financial instruments expense, which consists of commitment fees and charges incurred in connection with financing transactions; interest income; and general and product liability expense - discontinued products, which consists of charges for claims against us related primarily to asbestos personal injury claims, net of probable insurance recoveries.

NOTE 6. INCOME TAXES

For the ~~first~~second quarter of 2025, we recorded income tax expense of $1324 million on income before income taxes of $~~131~~305 million. For the first six months of 2025, we recorded income tax expense of $37 million on income before income taxes of $436 million. Income tax expense for the three and six months ended June 30, 2025 includes net discrete tax benefits of $4 million and $5 million, respectively.

For the first quarter of 2024, we recorded income tax expense of $6 million on a loss before income taxes of $52 million. Income tax expense for the three months ended March 31, 2024 includes a net discrete tax benefit of $1 million.13

We record taxes based on overall estimated annual effective tax rates. The difference between our effective tax rate and the U.S. statutory rate of 21% for the three months ended March 31, 2025 is favorably impacted by gains recognized as a result of the sale of the OTR tire business in foreign jurisdictions where no taxes are recorded, net of losses in foreign jurisdictions in which no tax benefits are recorded. The difference between our effective tax rate and the U.S. statutory rate of 21% for the three months ended March 31, 2024 primarily relates to losses in foreign jurisdictions in which no tax benefits are recorded and the discrete items noted above.

The Organisation for Economic Co-operation and Development ("OECD") has published the Pillar Two model rules which adopt a global corporate minimum tax of 15% for multinational enterprises with average revenue in excess of €750 million. Certain jurisdictions in which we operate enacted legislation consistent with one or more of the OECD Pillar Two model rules effective in 2024. The model rules include minimum domestic top-up taxes, income inclusion rules and undertaxed profit rules, all aimed to ensure that multinational corporations pay a minimum effective corporate tax rate of 15% in each jurisdiction in which they operate. We do not expect the Pillar Two model rules to materially impact our annual effective tax rate in 2025. However, we are continuing to evaluate the Pillar Two model rules and related legislation and their potential impact on future periods.

We consider both positive and negative evidence when measuring the need for a valuation allowance. The weight given to the evidence is commensurate with the extent to which it may be objectively verified. Current and cumulative financial reporting results are a source of objectively verifiable information. We give operating results during the most recent three-year period a significant weight in our analysis. We perform scheduling exercises to determine if sufficient taxable income of the appropriate character exists in the periods required in order to realize our deferred tax assets with limited lives (such as tax loss carryforwards and tax credits) prior to their expiration. We also consider prudent tax planning strategies (including an assessment of their feasibility) to accelerate taxable income if required to utilize expiring deferred tax assets. A valuation allowance is not required

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toFor the ~~extent~~second ~~that~~quarter of 2024, inwe ~~our~~recorded ~~judgment,~~income ~~positive~~tax ~~evidence~~expense ~~exists~~of ~~with~~$60 amillion ~~magnitude~~on ~~and~~income ~~duration~~before ~~sufficient~~income totaxes ~~result~~of in$133 amillion. ~~conclusion~~For ~~that~~the itfirst issix ~~more~~months ~~likely~~of ~~than~~2024, ~~not~~we ~~that~~recorded ~~our~~income ~~deferred~~tax expense of $66 million on income before income taxes of $69 million. Income tax ~~assets~~expense ~~will~~for bethe ~~realized~~six months ended June 30, 2024 includes a net discrete tax benefit of $1 million.

AtWe ~~March~~record ~~31,~~taxes ~~2025~~based ~~and~~on ~~December~~overall ~~31,~~estimated ~~2024,~~annual weeffective ~~had~~tax ~~approximately $1~~rates.3 ~~billion~~The ofdifference ~~U.S.~~between ~~federal,~~our ~~state~~effective ~~and~~tax ~~local~~rate ~~net~~and ~~deferred~~the ~~tax~~U.S. ~~assets,~~statutory ~~inclusive~~rate of ~~valuation~~21% ~~allowances~~for ~~totaling~~the ~~$36~~three ~~million~~ and ~~$26~~six ~~million,~~months ~~respectively~~ended June 30, ~~primarily~~2025 ~~for~~is ~~state~~favorably ~~tax~~impacted ~~loss~~by ~~carryforwards~~gains ~~with~~recognized ~~limited~~as ~~lives.~~a Asresult of ~~March~~the ~~31,~~sales ~~2025~~of the OTR tire business and ~~December~~the ~~31,~~Dunlop ~~2024~~brand, ~~approximately~~which ~~$1.1~~included ~~billion~~certain ofassociated ~~these~~intellectual ~~U.S.~~property ~~net~~and ~~deferred~~other ~~tax~~intangible assets, ~~had~~in ~~unlimited~~jurisdictions ~~lives~~where ~~and~~no ~~approximately~~taxes ~~$200~~are ~~million~~recorded, ~~had~~net ~~limited~~of ~~lives,~~losses ~~including~~in ~~$24~~foreign ~~million~~jurisdictions ofin ~~foreign~~which no tax ~~credits~~benefits are recorded, and the ~~majority~~discrete doitems ~~not~~noted ~~start~~above. toThe ~~expire~~difference ~~until~~between ~~2030.~~our Ineffective tax rate and the U.S., westatutory ~~have~~rate aof ~~cumulative~~21% ~~loss~~ for the three~~-year~~ ~~period~~and ~~ended~~six ~~March~~months 31ended June 30, ~~2025~~2024 primarily ~~driven~~relates byto ~~non-recurring~~losses ~~items~~in ~~such~~foreign asjurisdictions ~~rationalization~~in ~~charges,~~which ~~pension~~no ~~curtailments~~tax ~~and~~benefits ~~settlements,~~are ~~one-time~~recorded ~~costs~~and ~~associated with~~ the ~~Goodyear~~discrete ~~Forward~~items ~~plan,~~noted ~~and intangible asset impairments~~above.

InOn ~~assessing~~July ~~our~~4, ~~ability~~2025, tothe ~~utilize~~One ~~our~~Big ~~net~~Beautiful ~~deferred~~Bill ~~tax~~Act ~~assets,~~("OBBBA") wewas ~~primarily~~enacted ~~considered~~in ~~objectively verifiable information, including~~ the ~~improvement of our~~ U.S. ~~income~~The ~~before~~OBBBA ~~income~~includes ~~taxes~~significant ~~during~~provisions, ~~the~~such ~~first quarter of 2025~~ as ~~a result of benefits from~~ the ~~Goodyear~~permanent ~~Forward~~extension ~~plan~~of ~~compared~~certain toexpiring ~~the~~provisions ~~first quarter~~ of ~~2024,~~the asTax ~~well~~Cuts ~~as non-deductible interest~~ and ~~future~~Jobs ~~royalty income from foreign subsidiaries. In addition~~Act, wemodifications ~~considered our current forecasts of future profitability in assessing our ability~~ to ~~realize~~the ~~our~~international ~~deferred~~ tax ~~assets~~framework, asand ~~well as~~ the ~~impact~~restoration of tax ~~planning~~treatment ~~strategies.~~for ~~These~~certain ~~forecasts~~business ~~include~~provisions. ~~the~~We ~~impact~~do ofnot ~~recent~~expect ~~trends~~a ~~and~~material ~~various macroeconomic factors such as the~~ impact offrom ~~raw~~OBBBA ~~material, transportation, tariff, labor and energy costs~~ on our ~~profitability.~~2025 ~~Our~~operating tax ~~planning~~rates. ~~strategies~~We ~~include~~will ~~accelerating~~continue ~~income on cross border transactions, including sales of inventory or raw materials~~ to ~~our~~assess ~~subsidiaries,~~the ~~reducing~~impact ~~U.S.~~on ~~interest~~us ~~expense~~as ~~by,~~regulations ~~for~~develop ~~example,~~in ~~reducing~~the intercompany loans through repatriating current year earnings of foreign subsidiaries, repatriation of certain foreign royalty income, and other financing transactions, all of which would increase our domestic profitabilityfuture.

WeThe ~~believe~~Organisation ~~our improvement in U.S. income before income taxes~~ for ~~the~~Economic ~~three~~Co-operation ~~months~~and ~~ended~~Development ~~March~~("OECD") ~~31,~~have ~~2025~~published ~~compared to~~ the ~~three~~Pillar ~~months~~Two ~~ended~~model ~~March~~rules ~~31,~~which ~~2024,~~adopt asa ~~well~~global ascorporate ~~forecasts~~minimum tax of ~~future~~15% ~~profitability,~~for ~~provide~~multinational usenterprises ~~sufficient~~with ~~positive~~average ~~evidence~~revenue toin ~~conclude~~excess ~~that~~of it€750 ~~is more likely than not that, at March 31, 2025, our U~~million.S. ~~net~~Certain ~~deferred~~jurisdictions ~~tax~~in ~~assets~~which ~~will~~we beoperate ~~fully~~enacted ~~utilized.~~legislation ~~However,~~consistent ~~macroeconomic~~with ~~factors~~one ~~such~~or asmore ~~raw~~of ~~material,~~the ~~transportation,~~OECD ~~tariff,~~Pillar ~~labor~~Two ~~and~~model ~~energy~~rules ~~costs~~effective ~~possess~~in a2024. ~~high~~The ~~degree~~model ofrules ~~volatility~~include ~~and~~minimum ~~can~~domestic ~~significantly~~top-up ~~impact our profitability. In addition~~taxes, ~~certain~~income ~~tax~~inclusion ~~provisions~~rules, ~~such~~and asundertaxed ~~the~~profit ~~annual~~rules ~~interest~~all ~~expense~~aimed ~~limitation~~to ~~under~~ensure ~~Section~~that ~~163(j)~~multinational ofcorporations ~~the~~pay ~~Internal~~a ~~Revenue~~minimum ~~Code~~effective ofcorporate ~~1986,~~tax ifrate ~~amended, could impact our analysis~~ of ~~the~~15% ~~realizability~~in ofeach ~~our~~jurisdiction ~~U.S.~~in ~~deferred~~which ~~tax~~they ~~assets~~operate. IfWe ~~our~~do ~~U.S.~~not ~~operating~~expect ~~results significantly decline in~~ the ~~future,~~Pillar weTwo ~~may~~model ~~need~~rules to ~~record~~materially aimpact ~~valuation~~our ~~allowance~~annual ~~which~~effective ~~could~~tax ~~adversely~~rate ~~impact~~in ~~our operating results~~2025. ~~As such~~However, we ~~will~~are ~~closely~~continuing ~~monitor~~to ~~our~~evaluate ~~U.S.~~the ~~operations~~Pillar asTwo ~~well~~model asrules ~~any~~and ~~tax~~related ~~law~~legislation ~~changes~~and totheir ~~assess~~potential ~~the~~impact ~~realizability~~on offuture ~~our U~~periods.~~S. deferred tax assets.~~

AtWe ~~March~~consider ~~31,~~both ~~2025~~positive and ~~December~~negative ~~31,~~evidence ~~2024,~~when wemeasuring ~~also~~the ~~had~~need ~~approximately~~for $1a valuation allowance.5 ~~billion~~The ofweight ~~foreign~~given ~~net~~to ~~deferred~~the ~~tax~~evidence ~~assets~~is commensurate with the extent to which it may be objectively verified. Current and ~~related~~cumulative ~~valuation~~financial ~~allowances~~reporting results are a source of ~~approximately~~objectively ~~$1.2~~verifiable ~~billion~~information. ~~Our~~We ~~losses~~give inoperating ~~various~~results ~~foreign~~during ~~taxing~~the ~~jurisdictions~~most in recent ~~periods~~three-year ~~represented~~period ~~sufficient~~a ~~negative~~significant ~~evidence~~weight toin ~~require~~our usanalysis. toWe ~~maintain~~perform ascheduling ~~full~~exercises ~~valuation~~to ~~allowance~~determine ~~against~~if ~~certain~~sufficient taxable income of ~~these~~the ~~net~~appropriate ~~foreign~~character ~~deferred~~exists ~~tax~~in ~~assets.~~the ~~Most~~periods ~~notably,~~required in ~~Luxembourg,~~order weto ~~maintain~~realize aour ~~valuation~~deferred ~~allowance~~tax ofassets ~~approximately~~with ~~$1.0~~limited ~~billion~~lives on(such ~~all~~as oftax ~~our~~loss ~~net~~carryforwards ~~deferred~~and tax ~~assets~~credits) prior to their expiration. ~~Each~~We ~~reporting~~also ~~period,~~consider weprudent ~~assess~~tax ~~available~~planning ~~positive~~strategies ~~and~~(including ~~negative~~an ~~evidence~~assessment ~~and~~of ~~estimate~~their iffeasibility) ~~sufficient~~to ~~future~~accelerate taxable income ~~will~~if berequired ~~generated~~ to utilize ~~these~~expiring ~~existing~~ deferred tax assets. WeA dovaluation allowance is not ~~believe~~required to the extent that, ~~sufficient~~in our judgment, positive evidence ~~required~~exists towith ~~release~~a ~~valuation~~magnitude ~~allowances~~and onduration ~~our~~sufficient ~~foreign~~to ~~deferred~~result ~~tax~~in ~~assets having~~ a ~~significant~~conclusion ~~impact~~that onit ~~our~~is ~~financial~~more ~~position~~likely orthan ~~results~~not ofthat ~~operations~~our ~~will~~deferred ~~exist~~tax ~~within~~assets ~~the~~will ~~next~~be ~~twelve months~~realized.

~~For~~At ~~the~~June 30, ~~three~~2025 ~~months~~and ~~ended~~December 31, ~~March~~2024, 31we had approximately $1.4 billion and $1.3 billion, respectively, of U.S. federal, state and local net deferred tax assets, inclusive of valuation allowances totaling $36 million and $26 million, respectively, primarily for state tax loss carryforwards with limited lives. As of June 30, 2025, ~~changes~~approximately to$1.2 billion ~~our~~of ~~unrecognized~~these U.S. net deferred tax ~~benefits~~assets ~~did~~had unlimited lives and approximately $200 million had limited lives, and the majority do not start to expire until 2030. As of December 31, 2024, approximately $1.1 billion of these U.S. net deferred tax assets had unlimited lives and ~~for~~approximately ~~the~~$200 ~~full~~million ~~year~~had limited lives, including $24 million of ~~2025~~foreign ~~are~~tax credits, and the majority do not ~~expected~~start to expire until 2030. In the U.S., we have a ~~significant~~cumulative ~~impact~~loss onfor ~~our~~the ~~financial~~three-year ~~position~~period orended ~~results~~June 30, of2025 ~~operations~~primarily driven by non-recurring items such as rationalization charges, pension curtailments and settlements, one-time costs associated with the Goodyear Forward plan, and intangible asset impairments.

WeIn ~~are~~assessing ~~open~~our ability to ~~examination~~utilize inour net deferred tax assets, we primarily considered objectively verifiable information including the ~~United~~reduction ~~States~~in interest expense from ~~2021~~debt ~~onward~~repayment as a result of the sales of the OTR tire business and inthe ~~Germany~~Dunlop brand, which included certain associated intellectual property and other intangible assets, and future royalty income from ~~2018~~foreign ~~onward~~subsidiaries. ~~Generally~~In addition, ~~for~~we considered our ~~remaining~~current forecasts of future profitability in assessing our ability to realize our deferred tax ~~jurisdictions~~assets as well as the impact of tax planning strategies. These forecasts include the impact of recent trends and various macroeconomic factors such as the impact of raw material, ~~years~~transportation, ~~from~~tariff, ~~2020~~labor ~~onward~~and ~~are~~energy ~~still~~costs ~~open~~on our profitability. Our tax planning strategies include accelerating income on cross border transactions, including sales of inventory or raw materials to ~~examination~~our subsidiaries, reducing U.S. interest expense by, for example, repaying U.S. third-party debt and reducing intercompany loans through repatriating current year earnings of foreign subsidiaries, repatriation of certain foreign royalty income, and other financing transactions, all of which would increase our domestic profitability.

12We believe our forecasts of future profitability, including a reduction in interest expense from debt repayment as a result of the sales of the OTR tire business and the Dunlop brand, which included certain associated intellectual property and other intangible assets, provide us sufficient positive evidence to conclude that it is more likely than not that, at June 30, 2025, our U.S. net deferred tax assets will be fully utilized. However, macroeconomic factors such as raw material, transportation, tariff, labor and energy costs possess a high degree of volatility and can significantly impact our profitability. Our U.S. operating

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results for the quarter ended June 30, 2025 declined relative to prior periods. If our U.S. operating results continue to decline in the future, we may need to record a valuation allowance which could adversely impact our operating results. As such, we will closely monitor our U.S. operations and any tax law changes to assess the realizability of our U.S. deferred tax assets.

At June 30, 2025 and December 31, 2024, we also had approximately $1.5 billion of foreign net deferred tax assets and related valuation allowances of approximately $1.3 billion and $1.2 billion, respectively. Our losses in various foreign taxing jurisdictions in recent periods represented sufficient negative evidence to require us to maintain a full valuation allowance against certain of these net foreign deferred tax assets. Most notably, in Luxembourg, we maintain a valuation allowance of approximately $1.0 billion on all of our net deferred tax assets. Each reporting period, we assess available positive and negative evidence and estimate if sufficient future taxable income will be generated to utilize these existing deferred tax assets. We do not believe that sufficient positive evidence required to release valuation allowances on our foreign deferred tax assets having a significant impact on our financial position or results of operations will exist within the next twelve months.

For the six months ended June 30, 2025, changes to our unrecognized tax benefits did not, and for the full year of 2025 are not expected to, have a significant impact on our financial position or results of operations.

We are open to examination in the United States from 2021 onward and in Germany from 2018 onward. Generally, for our remaining tax jurisdictions, years from 2020 onward are still open to examination.

Following an audit by the Internal Revenue Service ("IRS"), we received a Notice of Proposed Adjustment ("NOPA") during the second quarter of 2025 related to an intercompany sale of certain intellectual property in 2021. The IRS proposes to disallow income recognition totaling $1.5 billion associated with this transaction. The federal tax charge related to that income recognition was fully offset by the utilization of $315 million of then-existing deferred tax assets, including tax loss carryforwards and foreign tax credits.

We disagree with the IRS’s position as stated in the NOPA and plan to challenge the proposed adjustments through the established IRS administrative procedures. Based on the information currently available, we believe that it is more likely than not that our tax position will be sustained upon review; therefore, no changes have been made to our reserve for uncertain tax positions relating to the NOPA. The ultimate resolution of this matter is uncertain, and if the income recognition associated with the transaction is disallowed, we will not be able to use a portion of the deferred tax assets that we utilized to offset the related federal taxes and our operating results could be adversely impacted.

NOTE 7. EARNINGS PER SHARE

Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share are calculated to reflect the potential dilution that could occur if securities or other contracts were exercised or converted into common stock.

Basic and diluted earnings per common share are calculated as follows:

	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions, except per share amounts)		2025					2024		2025		2024
(In millions, except per share amounts)	2025			2024
Earnings per share — basic:
Earnings (loss) per share — basic:
Goodyear net income		$	254				$	79	$	369	$	10
Goodyear net income (loss)	$	115		$	(57	)
Weighted average shares outstanding		287					287		287		286
Weighted average shares outstanding		287			286
Earnings per common share — basic		$	0.88				$	0.28	$	1.28	$	0.04
Earnings (loss) per common share — basic	$	0.40		$	(0.20	)
Earnings per share — diluted:
Earnings (loss) per share — diluted:
Goodyear net income		$	254				$	79	$	369	$	10
Goodyear net income (loss)	$	115		$	(57	)
Weighted average shares outstanding		287					287		287		286
Weighted average shares outstanding		287			286
Dilutive effect of stock options and other dilutive securities		3					1		3		2
Dilutive effect of stock options and other dilutive securities		2			—
Weighted average shares outstanding — diluted		290					288		290		288
Weighted average shares outstanding — diluted		289			286
Earnings per common share — diluted		$	0.87				$	0.28	$	1.27	$	0.04
Earnings (loss) per common share — diluted	$	0.40		$	(0.20	)

Weighted average shares outstanding — diluted for the three and six months ended ~~March 31~~June 30, 2025 ~~and 2024~~ excludes approximately 31 million equivalent shares and 13 million equivalent shares, respectively, ~~related to options with exercise prices greater than the average market price of our common shares (i.e.~~and, ~~"underwater" options). Additionally, weighted average shares outstanding — diluted~~ for both the three and six months ended ~~March 31~~June 30, 2024, excludes ~~the dilutive effect of~~ approximately 21 million equivalent shares, related ~~primarily~~ to ~~unvested restricted stock units and~~ options with exercise prices ~~less~~greater than the average market price of our common shares (i.e., "~~in-the-money~~underwater" options)~~, as their inclusion would have been anti-dilutive due to the Goodyear net loss~~.

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NOTE 8. BUSINESS SEGMENTS

Results of operations are measured based on net sales to unaffiliated customers and segment operating income. Each segment exports tires to other segments. The financial results of each segment exclude sales of tires exported to other segments, but include operating income derived from such transactions. Segment operating income is computed as follows: Net sales less Cost of Goods Sold ("CGS") (excluding asset write-offs and accelerated depreciation charges) and SAG (including certain allocated corporate administrative expenses). Segment operating income also includes certain royalties and equity in earnings of most affiliates. Segment operating income does not include net rationalization charges, asset sales, goodwill and other asset impairment charges, and certain other items.

The chief operating decision maker ("CODM") is the Chief Executive Officer. The CODM uses segment operating income to allocate resources (including employees, property, and financial or capital resources) for each segment predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a monthly basis for the profit measure when making decisions about allocating capital and personnel to the segments. The CODM also uses segment operating income or loss for evaluating product pricing and to assess the performance for each segment by comparing the results and return on assets of each segment with one another and in the compensation of certain employees.

13The following tables present segment sales, significant segment expenses and operating income, and the reconciliation of segment operating income to Income before Income Taxes:


	Three Months Ended June 30, 2025
(In millions)	Americas		Europe, Middle East and Africa		Asia Pacific		Total
Net Sales	$	2,662	$	1,344	$	459	$	4,465
Less:
Cost of Goods Sold	2,166		1,153		350		3,669
Selling, Administrative and General Expense	362		221		69		652
Other (income)(1)	(7)		(5)		(3)		(15)
Segment Operating Income (Loss)	$	141	$	(25)	$	43	$	159
Less:

Rationalizations (Note 4)							59
Interest expense							112
Other (income) expense (Note 5)							31
Net (gains) losses on asset sales							(439)
Asset write-offs, accelerated depreciation and accelerated lease costs, net (Note 4)							41
Corporate incentive compensation plans							20
Retained expenses of divested operations							1
Other(2)							29
Income before Income Taxes							$	305
(1) Primarily represents OTR transition license agreement royalty income, in addition to transition services income related to the sales of the OTR tire business and the Dunlop brand.
(2) Primarily represents unallocated corporate costs and the elimination of royalty and other income attributable to the strategic business units (“SBUs”).

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The following tables present segment sales, significant segment expenses and operating income, and the reconciliation of segment operating income to Income (Loss) before Income Taxes:


	Three Months Ended June 30, 2024
(In millions)	Americas		Europe, Middle East and Africa		Asia Pacific		Total
Net Sales	$	2,697	$	1,279	$	594	$	4,570
Less:
Cost of Goods Sold	2,120		1,024		451		3,595
Selling, Administrative and General Expense	340		226		81		647
Other (income)(1)	(4)		(1)		(1)		(6)
Segment Operating Income	$	241	$	30	$	63	$	334
Less:

Rationalizations (Note 4)							19
Interest expense							130
Other (income) expense (Note 5)							26
Net (gains) losses on asset sales							(96)
Asset write-offs, accelerated depreciation and accelerated lease costs, net (Note 4)							43
Corporate incentive compensation plans							15
Retained expenses of divested operations							3
Other(2)							61
Income before Income Taxes							$	133
(1) Primarily represents royalty income attributable to the SBUs.
(2) Primarily represents unallocated corporate costs and the elimination of royalty income attributable to the SBUs. Other also includes $40 million of costs related to the Goodyear Forward plan, primarily related to third-party consulting fees.

	Three Months Ended
	March 31, 2025
(In millions)	Americas			Europe, Middle East and Africa			Asia Pacific			Total
Net Sales	$	2,502		$	1,277		$	474		$	4,253
Less:
Cost of Goods Sold		2,023			1,082			368			3,473
Selling, Administrative and General Expense		331			203			62			596
Other (income)(1)		(7	)		(3	)		(1	)		(11	)
Segment Operating Income (Loss)	$	155		$	(5	)	$	45		$	195
Less:
Rationalizations (Note 4)											81
Interest expense											115
Other (income) expense (Note 5)											25
Net (gains) losses on asset sales											(262	)
Asset write-offs, accelerated depreciation and accelerated lease costs, net (Note 4)											46
Corporate incentive compensation plans											16
Retained expenses of divested operations											5
Other(2)											38
Income (Loss) before Income Taxes										$	131

Primarily represents royalty income attributable to the SBUs, including royalty income earned from the OTR sale.

Primarily represents unallocated corporate costs and the elimination of royalty income attributable to the SBUs.

	Three Months Ended
	March 31, 2024
(In millions)	Americas			Europe, Middle East and Africa			Asia Pacific		Total
Net Sales	$	2,588		$	1,347		$	602	$	4,537
Less:
Cost of Goods Sold		2,076			1,135			463		3,674
Selling, Administrative and General Expense		337			205			79		621
Other (income)(1)		(4	)		(1	)		—		(5	)
Segment Operating Income	$	179		$	8		$	60	$	247
Less:
Rationalizations (Note 4)										22
Interest expense										126
Other (income) expense (Note 5)										28
Net (gains) losses on asset sales										2
Asset write-offs, accelerated depreciation and accelerated lease costs, net (Note 4)										51
Corporate incentive compensation plans										20
Retained expenses of divested operations										5
Other(2)										45
Income (Loss) before Income Taxes									$	(52	)

Primarily represents royalty income attributable to the SBUs.

Primarily represents unallocated corporate costs and the elimination of royalty income attributable to the SBUs. Other also includes $28 million of costs related to the Goodyear Forward plan, primarily related to third-party advisory, legal and consulting fees and costs associated with planned asset sales.

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The following table presents segment assets:


	Six Months Ended June 30, 2025
(In millions)	Americas		Europe, Middle East and Africa		Asia Pacific		Total
Net Sales	$	5,164	$	2,621	$	933	$	8,718
Less:
Cost of Goods Sold	4,189		2,235		718		7,142
Selling, Administrative and General Expense	693		424		131		1,248
Other (income)(1)	(14)		(8)		(4)		(26)
Segment Operating Income (Loss)	$	296	$	(30)	$	88	$	354
Less:

Rationalizations (Note 4)							140
Interest expense							227
Other (income) expense (Note 5)							56
Net (gains) losses on asset sales							(701)
Asset write-offs, accelerated depreciation and accelerated lease costs, net (Note 4)							87
Corporate incentive compensation plans							36
Retained expenses of divested operations							3
Other(2)							70
Income before Income Taxes							$	436
(1) Primarily represents OTR transition license agreement royalty income, in addition to transition services income related to the sales of the OTR tire business and the Dunlop brand.
(2) Primarily represents unallocated corporate costs and the elimination of royalty and other income attributable to the SBUs.

	March 31,			December 31,
		Six Months Ended June 30, 2024
(In millions)	~~2025~~	Americas		~~2024~~		Europe, Middle East and Africa		Asia Pacific		Total
Assets
Net Sales		$	5,285			$	2,626	$	1,196	$	9,107
Americas	$	11,724		$	11,406
Less:
Europe, Middle East and Africa		5,040			4,557
Cost of Goods Sold		4,196				2,166		914		7,276
Asia Pacific		2,349			2,610
Selling, Administrative and General Expense		677				431		160		1,268
Total Segment Assets		19,113			18,573
Other (income)(1)		(8)				(2)		(1)		(11)
Corporate(1)		2,598			2,391
Segment Operating Income		$	420			$	31	$	123	$	574
	$	21,711		$	20,964
Less:
Rationalizations (Note 4)										41
Interest expense										256
Other (income) expense (Note 5)										59
Net (gains) losses on asset sales										(94)
Asset write-offs, accelerated depreciation and accelerated lease costs, net (Note 4)										94
Corporate incentive compensation plans										36
Retained expenses of divested operations										8
Other(2)										105
Income before Income Taxes										$	69
(1) Primarily represents royalty income attributable to the SBUs.
(2) Primarily represents unallocated corporate costs and the elimination of royalty income attributable to the SBUs. Other also includes $67 million of costs related to the Goodyear Forward plan, primarily related to third-party consulting fees.

~~Corporate includes substantially all of our U.S. net deferred tax assets.~~18

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The following table presents segment assets at:


(In millions)	June 30, 2025		December 31, 2024
Assets
Americas	$	12,152	$	11,406
Europe, Middle East and Africa	5,370		4,514
Asia Pacific	2,335		2,610
Total Segment Assets	$	19,857	$	18,530
Corporate(1)	2,402		2,391
	$	22,259	$	20,921

(1) Corporate includes substantially all of our U.S. net deferred tax assets.

The following table presents geographic information. Net sales by country were determined based on the location of the selling subsidiary. Long-lived assets consist of property, plant and equipment. Management did not consider the net sales of any individual country outside the United States to be significant to the consolidated financial statements. For long-lived assets, only the United States and China were considered to be significant.

	Three Months Ended
		Three Months EndedJune 30,						Six Months EndedJune 30,
	March 31,
(In millions)		2025				2024		2025		2024
(In millions)	2025			2024
Net Sales
Net Sales
United States		$	2,234			$	2,196	$	4,286	$	4,287
United States	$	2,052		$	2,091
International		2,231				2,374		4,432		4,820
International		2,201			2,446
		$	4,465			$	4,570	$	8,718	$	9,107
	$	4,253		$	4,537
(In millions)								June 30,2025		December 31,2024
Long-Lived Assets
United States								$	3,585	$	3,688
China								653		676
Other international								3,764		3,718
								$	8,002	$	8,082

	March 31,		December 31,
(In millions)	2025		2024
Long-Lived Assets
United States	$	3,839	$	3,688
China		664		676
Other international		3,626		3,718
	$	8,129	$	8,082

Rationalizations, as described in Note to the Consolidated Financial Statements No. 4, Costs Associated with Rationalization Programs; net (gains) losses on asset sales, as described in Note to the Consolidated Financial Statements No. 2, Divestitures; and asset write-offs, accelerated depreciation and accelerated leases costs were not charged (credited) to the SBUs for performance evaluation purposes but were attributable to the SBUs as follows:

	Three Months Ended
		Three Months EndedJune 30,						Six Months EndedJune 30,
	March 31,
(In millions)		2025				2024		2025		2024
(In millions)	2025			2024
Rationalizations
Rationalizations
Americas		$	10			$	11	$	72	$	15
Americas	$	62		$	5
Europe, Middle East and Africa		43				3		55		10
Europe, Middle East and Africa		12			6
Asia Pacific		—				2		1		13
Asia Pacific		1			11
Total Segment Rationalizations		$	53			$	16	$	128	$	38
Total Segment Rationalizations	$	75		$	22
Corporate		6				3		12		3
Corporate		6			—
		$	59			$	19	$	140	$	41
	$	81		$	22

	Three Months Ended
	March 31,
(In millions)	2025			2024
Net (Gains) Losses on Asset Sales
Americas	$	(1	)	$	—
Europe, Middle East and Africa		(1	)		2
Total Segment (Gains) Losses on Asset Sales	$	(2	)	$	2
Corporate		(260	)		—
	$	(262	)	$	2

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	Three Months Ended
		Three Months EndedJune 30,						Six Months EndedJune 30,
	March 31,
(In millions)		2025				2024		2025		2024
(In millions)	2025			2024
Net (Gains) Losses on Asset Sales
Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, net
Americas		$	—			$	(14)	$	(1)	$	(14)
Americas	$	28		$	8
Europe, Middle East and Africa		1				(82)		—		(80)
Europe, Middle East and Africa		16			16
Asia Pacific		(55)				—		(55)		—
Asia Pacific		2			7
Total Segment (Gains) Losses on Asset Sales		$	(54)			$	(96)	$	(56)	$	(94)
Total Segment Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, net	$	46		$	31
Corporate		(385)				—		(645)		—
Corporate		—			20
		$	(439)			$	(96)	$	(701)	$	(94)
	$	46		$	51


	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2025		2024		2025		2024
Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, net
Americas	$	14	$	2	$	42	$	10
Europe, Middle East and Africa	26		17		42		33
Asia Pacific	1		24		3		31
Total Segment Asset Write-Offs, Accelerated Depreciation, and Accelerated Lease Costs, net	$	41	$	43	$	87	$	74
Corporate	—		—		—		20
	$	41	$	43	$	87	$	94

The following tables present segment capital expenditures and depreciation and amortization:

	Three Months Ended
		Three Months EndedJune 30,						Six Months EndedJune 30,
	March 31,
(In millions)		2025				2024		2025		2024
(In millions)	2025			2024
Capital Expenditures
Capital Expenditures
Americas		$	151			$	201	$	327	$	409
Americas	$	176		$	208
Europe, Middle East and Africa		33				76		92		147
Europe, Middle East and Africa		59			71
Asia Pacific		23				28		44		60
Asia Pacific		21			32
Total Segment Capital Expenditures		$	207			$	305	$	463	$	616
Total Segment Capital Expenditures	$	256		$	311
Corporate		—				11		3		18
Corporate		3			7
		$	207			$	316	$	466	$	634
	$	259		$	318

	Three Months Ended
		Three Months EndedJune 30,						Six Months EndedJune 30,
	March 31,
(In millions)		2025				2024		2025		2024
(In millions)	2025			2024
Depreciation and Amortization
Depreciation and Amortization
Americas		$	153			$	139	$	316	$	302
Americas	$	163		$	163
Europe, Middle East and Africa		82				68		149		138
Europe, Middle East and Africa		67			71
Asia Pacific		29				45		60		85
Asia Pacific		31			40
Total Segment Depreciation and Amortization		$	264			$	252	$	525	$	525
Total Segment Depreciation and Amortization	$	261		$	274
Corporate		10				10		19		21
Corporate		9			10
		$	274			$	262	$	544	$	546
	$	270		$	284

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The following table presents segment equity in the net (income) loss of investees accounted for by the equity method:

	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions)		2025					2024		2025		2024
(In millions)	2025			2024
Equity in (Income) Loss
Equity in (Income) Loss
Americas		$	8				$	8	$	26	$	19
Americas	$	18		$	10
Europe, Middle East and Africa		(1)					(1)		(1)		(1)
Asia Pacific		(34)	)		(2	)	(2)		(7)		(4)
Total Segment Equity in (Income) Loss	$	15$	3	$	8		$	5	$	18	$	14

NOTE 9. FINANCING ARRANGEMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS

At ~~March 31~~June 30, 2025, we had total credit arrangements of $10,~~537~~920 million, of which $23,~~623~~158 million were unused. At that date, approximately 3330% of our debt was at variable interest rates averaging 6.6542%.

Notes Payable and Overdrafts, Long Term Debt and Finance Leases due Within One Year and Short Term Financing Arrangements

At ~~March 31~~June 30, 2025, we had short term committed and uncommitted credit arrangements totaling $~~695~~781 million, of which $~~241~~250 million were unused. These arrangements are available primarily to certain of our foreign subsidiaries through various banks at quoted market interest rates.

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The following table presents amounts due within one year:

	March 31,				December 31,
(In millions)		June 30,2025						December 31,2024
(In millions)	2025				2024
Chinese credit facilities		$	60					$	66
Chinese credit facilities	$	64			$	66
Other foreign and domestic debt		439						492
Other foreign and domestic debt		372				492
Notes Payable and Overdrafts		$	499					$	558
Notes Payable and Overdrafts	$	436			$	558
Weighted average interest rate		7.73		%				8.00		%
Weighted average interest rate		8.66	%			8.00	%
Chinese credit facilities		$	56					$	81
Chinese credit facilities	$	66			$	81
9.5% Notes due 2025		—						500
9.5% Notes due 2025		—				500
5% Notes due 2026		500						—
Other foreign and domestic debt (including finance leases)		~~234~~222				~~251~~		251
Long Term Debt and Finance Leases due Within One Year	$	~~300~~$	778		$	~~832~~		$	832
Weighted average interest rate		65.9157	%	%		~~8.46~~	%	8.46		%
Total obligations due within one year	$	~~736~~$	1,277		$	~~1,390~~		$	1,390

Long Term Debt and Finance Leases and Financing Arrangements

At ~~March 31~~June 30, 2025, we had long term credit arrangements totaling $910,~~842~~139 million, of which $2,~~382~~908 million were unused.

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The following table presents long term debt and finance leases, net of unamortized discounts, and interest rates:

	March 31, 2025							December 31, 2024
		June 30, 2025										December 31, 2024
				Interest							Interest
(In millions)		Amount					InterestRate					Amount		InterestRate
(In millions)	Amount			Rate				Amount			Rate
Notes:
Notes:
9.5% due 2025		$	—									$	500
9.5% due 2025	$	—						$	500
5% due 2026		500										900
5% due 2026		900							900
4.875% due 2027		700										700
4.875% due 2027		700							700
7.625% due 2027		123										124
7.625% due 2027		124							124
7% due 2028		150										150
7% due 2028		150							150
2.75% Euro Notes due 2028		469										416
2.75% Euro Notes due 2028		432							416
5% due 2029		850										850
5% due 2029		850							850
6.625% due 2030		500										—
5.25% due April 2031		550							~~550~~			550
5.25% due July 2031		600							~~600~~			600
5.625% due 2033		450							~~450~~			450
Credit Facilities:
First lien revolving credit facility due 2026		1,430			5.60	%			700			5.86	%
First lien revolving credit facility due 2030		1,210					5.61		%			700		5.86	%
European revolving credit facility due 2028		~~194~~140			~~4.03~~	%	3.43		—%			—		—
Pan-European accounts receivable facility		~~130~~200			~~4.48~~	%	3.91		~~227~~%			~~4.83~~227	%	4.83	%
Mexican credit facility		~~200~~—			~~6.82~~	%	6.37		~~200~~%			~~7.36~~200	%	7.36	%
Chinese credit facilities		~~165~~171			~~2.87~~	%	2.46		~~147~~%			~~2.50~~147	%	2.50	%
Other foreign and domestic debt(1)		~~491~~490			~~8.19~~	%	8.18		~~480~~%			~~7.39~~480	%	7.39	%
		7,366							6,994
		7,103										6,994
Unamortized deferred financing fees		(2631)	)						~~(31~~	)		(31)
		7,340							6,963
		7,072										6,963
Finance lease obligations(2)		~~262~~265							~~261~~			261
		7,602							7,224
		7,337										7,224
Less portion due within one year		(~~300~~778)	)						~~(832~~	)		(832)
	$	~~7,302~~$	6,559					$	~~6,392~~			$	6,392
(1)Interest rates are weighted average interest rates primarily related to various foreign credit facilities with customary terms and conditions.(2)Includes $1 million of non-cash financing additions during the six months ended June 30, 2025, and $2 million of non-cash financing additions during the twelve months ended December 31, 2024.

Interest rates are weighted average interest rates primarily related to various foreign credit facilities with customary terms and conditions.

Includes $1 million non-cash financing additions during the three months ended March 31, 2025, and $2 million of non-cash financing additions during the twelve months ended December 31, 2024.

NOTES

At ~~March 31~~June 30, 2025, we had $4,~~756~~892 million of outstanding notes, compared to $5,240 million at December 31, 2024.

~~On February 19, 2025, we redeemed our remaining~~ $500 million 96.5625% ~~senior~~Senior ~~notes~~Notes due ~~2025 at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest.~~2030

17On June 3, 2025, we issued $500 million in aggregate principal amount of 6.625% senior notes due 2030. These notes were sold at 100% of the principal amount and will mature on July 15, 2030. These notes are unsecured senior obligations and are guaranteed by our U.S. and Canadian subsidiaries that also guarantee our obligations under our U.S. first lien revolving credit facility described below.

We have the option to redeem these notes, in whole or in part, at any time on or after July 15, 2027 at a redemption price of 103.313%, 101.656% and 100% during the 12-month periods commencing on July 15, 2027, 2028 and 2029 and thereafter, respectively, plus accrued and unpaid interest to the redemption date. Prior to July 15, 2027, we may redeem these notes, in whole or in part, at a redemption price equal to 100% of the principal amount plus a make-whole premium and accrued and unpaid interest to the redemption date. In addition, prior to July 15, 2027, we may redeem up to 35% of the original aggregate principal amount of these notes from the net cash proceeds of certain equity offerings at a redemption price equal to 106.625% of the principal amount plus accrued and unpaid interest to the redemption date.

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The terms of the indenture for these notes, among other things, limit our ability and the ability of certain of our subsidiaries to (i) incur certain liens, (ii) engage in sale and leaseback transactions, and (iii) consolidate, merge, sell or otherwise dispose of all or substantially all of our assets. These covenants are subject to significant exceptions and qualifications.

$900 million 5% Senior Notes due 2026

On June 30, 2025, we redeemed $400 million of our 5% senior notes due 2026 at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest. On July 3, 2025, we redeemed the remaining $500 million of our 5% senior notes due 2026 at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest. We used the net proceeds from the 6.625% senior notes described above, together with cash and cash equivalents, to redeem these notes.

CREDIT FACILITIES

$2.75 billion Amended and Restated First Lien Revolving Credit Facility due ~~2026~~2030

~~Our~~On May 19, 2025, we amended and restated our U.S. first lien revolving credit facility. ~~matures~~The onprincipal ~~June~~change 8,to ~~2026~~the ~~and~~facility iswas ~~available in~~ the ~~form~~extension of ~~loans~~its ormaturity ~~letters~~from ofJune ~~credit.~~8, Up2026 to ~~$800~~May, ~~million~~19, in2030. ~~letters~~The ofinterest ~~credit~~rate ~~and~~for ~~$50 million of swingline~~ loans ~~are available for issuance~~ under the facility. ~~Subject~~remained toat ~~the~~SOFR ~~consent~~plus of125 ~~the~~basis ~~lenders whose commitments are to be increased~~points, webased ~~may~~on ~~request~~our ~~that~~current ~~the~~liquidity ~~facility~~as bedescribed ~~increased by up to $250 million~~below.

Our ~~obligations~~amended ~~under the facility are guaranteed by most of our wholly-owned U.S.~~ and ~~Canadian~~restated ~~subsidiaries.~~first ~~Our~~lien ~~obligations~~revolving ~~under~~credit ~~the~~ facility ~~and~~is ~~our~~available ~~subsidiaries' obligations under the related guarantees are secured by first priority security interests~~ in ~~a variety of collateral. Availability under~~ the ~~facility~~form ~~is subject to a borrowing base, which is based on (i) eligible accounts receivable and inventory~~ of ~~The~~loans ~~Goodyear~~or ~~Tire~~letters ~~& Rubber Company and certain~~ of ~~its U~~credit.S. ~~and~~Up ~~Canadian subsidiaries, (ii) the value of our principal trademarks in an amount not~~ to ~~exceed~~ $~~400~~800 million, ~~(iii)~~in ~~the~~letters ~~value~~ of ~~eligible~~credit ~~machinery~~ and ~~equipment, and (iv) certain cash in an amount not to exceed~~ $~~275~~50 million. ~~To the extent that our eligible accounts receivable, inventory and other components~~ of ~~the~~swingline ~~borrowing~~loans ~~base~~are ~~decline~~available infor ~~value,~~issuance ~~our borrowing base will decrease and the availability~~ under the facility. ~~may~~Subject ~~decrease~~to ~~below~~the ~~$2.75~~consent ~~billion. As~~ of ~~March~~the ~~31,~~lenders ~~2025,~~whose ~~our~~commitments ~~borrowing~~are ~~base,~~to ~~and~~be ~~therefore our availability~~increased, ~~under~~we ~~this~~may ~~facility~~request ~~was~~that ~~$47 million below~~ the facility's ~~stated~~be ~~amount~~increased ofby up to $~~2.75~~250 ~~billion~~million.

~~The~~Our obligations under the facility ~~has~~are ~~customary~~guaranteed ~~representations~~by most of our wholly-owned U.S. and ~~warranties~~Canadian ~~including,~~subsidiaries. asOur obligations under the facility and our subsidiaries' obligations under the related guarantees are secured by first priority security interests in a ~~condition~~variety of collateral. Availability under the facility is subject to a borrowing base, ~~that~~which ~~all~~is ~~such~~based ~~representations~~on (i) eligible accounts receivable and ~~warranties~~inventory ~~are~~of ~~true~~The Goodyear Tire & Rubber Company and ~~correct,~~certain inof ~~all~~its ~~material~~U.S. ~~respects~~and Canadian subsidiaries, on(ii) the ~~date~~greater of 50% of the ~~borrowing~~appraised value, ~~including~~if ~~representations~~any, asof toour noprincipal ~~material~~trademarks ~~adverse~~or ~~change~~$400 inmillion, ~~our~~(iii) ~~business~~the orvalue ~~financial~~of ~~condition~~eligible ~~since~~machinery ~~December~~and 31equipment, ~~2020~~and (iv) certain cash in an amount not to exceed $275 million. ~~The~~To ~~facility~~the ~~also~~extent ~~has~~that ~~customary~~our ~~defaults~~eligible accounts receivable, ~~including~~inventory aand ~~cross-default~~other tocomponents ~~material~~of ~~indebtedness~~the borrowing base decline in value, our borrowing base will decrease and the availability under the facility may decrease below $2.75 billion. As of ~~Goodyear~~June 30, 2025, our borrowing base, and therefore our ~~subsidiaries~~availability, under this facility was $69 million below the facility's stated amount of $2.75 billion.

IfThe ~~Available Cash (as defined in the~~ facility) ~~plus~~has ~~the~~customary ~~availability~~representations ~~under~~and ~~the~~warranties ~~facility~~including, isas ~~greater~~a ~~than~~condition ~~$750~~to ~~million~~borrowing, ~~amounts~~that ~~drawn~~all ~~under~~such ~~the~~representations ~~facility~~and ~~will~~warranties ~~bear~~are ~~interest,~~true atand ~~our option~~correct, atin ~~(i)~~all ~~125~~material ~~basis~~respects, ~~points~~on ~~over SOFR or (ii) 25 basis points over an alternate base rate (~~the ~~higher~~date of ~~(a)~~ the ~~prime rate~~borrowing, ~~(b)~~including ~~the~~representations ~~federal~~as funds effective rate or the overnight bank funding rate plus 50 basis points or (c) SOFR for a one month interest period plus 100 basis points). If Available Cash plus the availability under the facility is equal to orno ~~less~~material ~~than~~adverse ~~$750~~change ~~million,~~in ~~then amounts drawn under the facility will bear interest, at~~ our ~~option,~~business ~~at (i) 150 basis points over SOFR~~ or ~~(ii)~~financial 50condition ~~basis~~since ~~points~~December ~~over~~31, ~~an alternate base rate~~2024. ~~Based~~The ~~on our current liquidity, amounts drawn under this~~ facility ~~bear~~also ~~interest~~has atcustomary ~~SOFR~~defaults, ~~plus~~including ~~125~~a ~~basis~~cross-default ~~points. Undrawn amounts under the facility are subject~~ to anmaterial ~~annual~~indebtedness ~~commitment fee~~ of 25Goodyear ~~basis~~and ~~points.~~our subsidiaries.

AtIf ~~March~~Available 31Cash (as defined in the facility) plus the average quarterly availability under the facility is greater than 25% of the total commitments under the facility, ~~2025~~amounts drawn under the facility will bear interest, weat ~~had~~our $1option,~~430~~ ~~million~~at of(i) ~~borrowings~~125 ~~and~~basis $1points ~~million~~over SOFR or (ii) 25 basis points over an alternate base rate (the higher of ~~letters~~(a) the prime rate, (b) the federal funds effective rate or the overnight bank funding rate plus 50 basis points or (c) SOFR plus 100 basis points). If Available Cash plus the average quarterly availability under the facility is equal to or less than 25% of ~~credit~~the ~~issued~~total commitments under the ~~revolving~~facility, ~~credit~~then amounts drawn under the facility. Atwill ~~December~~bear 31interest, ~~2024~~at our option, weat ~~had~~(i) ~~$700~~150 ~~million~~basis ofpoints ~~borrowings~~over ~~and~~SOFR $1or ~~million~~(ii) of50 ~~letters~~basis ofpoints ~~credit~~over ~~issued~~an alternate base rate. Based on our current liquidity, amounts drawn under ~~the~~this ~~revolving~~facility ~~credit~~bear interest at SOFR plus 125 basis points. Undrawn amounts under the facility are subject to an annual commitment fee of 25 basis points.

At June 30, 2025, we had $1,210 million of borrowings and $1 million of letters of credit issued under the revolving credit facility. At December 31, 2024, we had $700 million of borrowings and $1 million of letters of credit issued under the revolving credit facility.

€800 million Amended and Restated Senior Secured European Revolving Credit Facility due 2028

The European revolving credit facility matures on January 14, 2028 and consists of (i) a €180 million German tranche that is available only to Goodyear Germany GmbH and (ii) a €620 million all-borrower tranche that is available to Goodyear Europe B.V. ("GEBV"), Goodyear Germany and Goodyear Operations S.A. Up to €175 million of swingline loans and €75 million in letters of credit are available for issuance under the all-borrower tranche. Subject to the consent of the lenders whose commitments are to be increased, we may request that the facility be increased by up to €200 million. Amounts drawn under this facility will bear interest at SOFR plus 150 basis points for loans denominated in U.S. dollars, EURIBOR plus 150 basis points for loans denominated in euros, and SONIA plus 150 basis points for loans denominated in pounds sterling. Undrawn amounts under the facility are subject to an annual commitment fee of 25 basis points.

GEBV and certain of its subsidiaries in the United Kingdom, Luxembourg, France and Germany provide guarantees to support the facility. The German guarantors secure the German tranche on a first-lien basis and the all-borrower tranche on a second-lien basis. GEBV and its other subsidiaries that provide guarantees secure the all-borrower tranche on a first-lien basis and generally do not provide collateral support for the German tranche. The Company and its U.S. and Canadian subsidiaries that guarantee our U.S. first lien revolving credit facility described above also provide unsecured guarantees in support of the facility.

The facility has customary representations and warranties including, as a condition to borrowing, that all such representations and warranties are true and correct, in all material respects, on the date of the borrowing, including representations as to no material adverse change in our business or financial condition since December 31, 2021. The facility also has customary defaults, including a cross-default to material indebtedness of Goodyear and our subsidiaries.23

At March 31, 2025, there were $194 million (€180 million) of borrowings outstanding under the German tranche, no borrowings outstanding under the all-borrower tranche and no letters of credit outstanding under the European revolving credit facility. At December 31, 2024, we had no borrowings and no letters of credit outstanding under the European revolving credit facility.

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generally do not provide collateral support for the German tranche. The Company and its U.S. and Canadian subsidiaries that guarantee our U.S. first lien revolving credit facility described above also provide unsecured guarantees in support of the facility.

At June 30, 2025, there were $140 million (€120 million) of borrowings outstanding under the all-borrower tranche, no borrowings outstanding under the German tranche, and no letters of credit outstanding under the European revolving credit facility. At December 31, 2024, we had no borrowings and no letters of credit outstanding under the European revolving credit facility.

Accounts Receivable Securitization Facilities (On-Balance Sheet)

GEBV and certain other of our European subsidiaries are parties to a pan-European accounts receivable securitization facility that expires in 2027. The terms of the facility provide the flexibility to designate annually the maximum amount of funding available under the facility in an amount of not less than €30 million and not more than €450 million. For the period from October 19, 2023 through October 16, 2024, the designated maximum amount of the facility was €300 million. For the period from October 17, 2024 through October 16, 2025, the designated maximum amount of the facility will remain €300 million.

The facility involves an ongoing daily sale of substantially all of the trade accounts receivable of certain GEBV subsidiaries. These subsidiaries retain servicing responsibilities. Utilization under this facility is based on eligible receivable balances.

The funding commitments under the facility will expire upon the earliest to occur of: (a) October 19, 2027, (b) the non-renewal and expiration (without substitution) of all of the back-up liquidity commitments, (c) the early termination of the facility according to its terms (generally upon an Early Amortisation Event (as defined in the facility), which includes, among other things, events similar to the events of default under our first lien revolving credit facility; certain tax law changes; or certain changes to law, regulation or accounting standards), or (d) our request for early termination of the facility. The facility’s current back-up liquidity commitments will expire on October 16, 2025.

At ~~March 31~~June 30, 2025, the amounts available and utilized under this program totaled $~~130~~200 million (€~~120~~170 million). At December 31, 2024, the amounts available and utilized under this program totaled $227 million (€218 million). The program does not qualify for sale accounting, and accordingly, these amounts are included in Long Term Debt and Finance Leases.

For a description of the collateral securing the credit facilities described above as well as the covenants applicable to them, refer to Note to the Consolidated Financial Statements No. 15, Financing Arrangements and Derivative Financial Instruments, in our 2024 Form 10-K.

Accounts Receivable Factoring Facilities (Off-Balance Sheet)

We have sold certain of our trade receivables under off-balance sheet programs. For these programs, we have concluded that there is generally no risk of loss to us from non-payment of the sold receivables. At ~~March 31~~June 30, 2025, the gross amount of receivables sold was $771 million, compared to $773 million at December 31, 2024.

Supplier Financing

We have entered into supplier finance programs with several financial institutions. Under these programs, the financial institutions act as our paying agents with respect to accounts payable due to our suppliers. We agree to pay the financial institutions the stated amount of the confirmed invoices from the designated suppliers on the original due dates of the invoices. Invoice payment terms can be up to 120 days based on industry norms for the specific item purchased. We do not pay any fees to the financial institutions and we do not pledge any assets as security or provide other forms of guarantees for these programs. These programs allow our suppliers to sell their receivables to the financial institutions at the sole discretion of the suppliers and the financial institutions on terms that are negotiated among them. We are not always notified when our suppliers sell receivables under these programs. Our obligations to our suppliers, including the amounts due and scheduled payment dates, are not impacted by our suppliers’ decisions to sell their receivables under these programs. The amounts available under these programs were $~~825~~875 million and $775 million at ~~March 31~~June 30, 2025 and December 31, 2024, respectively. The amounts confirmed to the financial institutions were $~~682~~692 million and $604 million at ~~March 31~~June 30, 2025 and December 31, 2024, respectively, and are included in Accounts Payable — Trade in our Consolidated Balance Sheets. All activity related to these obligations is presented within operating activities on the Consolidated Statements of Cash Flows.

Other Foreign Credit Facilities

A Mexican subsidiary and a U.S. subsidiary have a revolving credit facility in Mexico. At ~~March 31~~June 30, 2025, we have $200 million available and ~~December~~no borrowings outstanding under this facility. At December 31, 2024, the amounts available and utilized under this facility were $200 million. The facility matures on November 22, 2026, has covenants relating to the Mexican and U.S. ~~subsidiaries and has customary representations and warranties and defaults relating to the Mexican and U.S. subsidiaries' ability to perform their respective obligations under the facility.~~

Our Chinese subsidiaries have several financing arrangements in China. These facilities contain covenants relating to these Chinese subsidiaries and have customary representations and warranties and defaults relating to these Chinese subsidiaries' ability to perform their respective obligations under these facilities. These facilities are also available for other off-balance sheet utilization, such as letters of credit and bank acceptances.24

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subsidiaries and has customary representations and warranties and defaults relating to the Mexican and U.S. subsidiaries' ability to perform their respective obligations under the facility.

The following table presents the total amounts available and utilized under the Chinese financing arrangements:

	March 31,			December 31,
(In millions)		June 30,2025				December 31,2024
(In millions)	2025			2024
Total available		$	888			$	817
Total available	$	849		$	817
Amounts utilized:
Amounts utilized:
Notes Payable and Overdrafts		$	60			$	66
Notes Payable and Overdrafts	$	64		$	66
Long Term Debt due Within One Year		56				81
Long Term Debt due Within One Year		66			81
Long Term Debt		115				66
Long Term Debt		99			66
Letters of credit, bank acceptances and other utilization		150				104
Letters of credit, bank acceptances and other utilization		102			104
Total utilized		$	381			$	317
Total utilized	$	331		$	317
Maturities		7/25-8/28				1/25-8/28
Maturities	4/25-8/28			1/25-8/28

Certain of these facilities can only be used to finance the expansion of our manufacturing facilities in China and the unused amount available under these facilities was $31 million at both ~~March 31~~June 30, 2025 and December 31, 2024.

DERIVATIVE FINANCIAL INSTRUMENTS

We utilize derivative financial instrument contracts and nonderivative instruments to manage interest rate, foreign exchange and commodity price risks. We have established a control environment that includes policies and procedures for risk assessment and the approval, reporting and monitoring of derivative financial instrument activities. We do not hold or issue derivative financial instruments for trading purposes.

Foreign Currency Contracts

We enter into foreign currency contracts in order to manage the impact of changes in foreign exchange rates on our consolidated results of operations and future foreign currency-denominated cash flows. These contracts may be used to reduce exposure to currency movements affecting existing foreign currency-denominated assets, liabilities, firm commitments and forecasted transactions resulting primarily from trade purchases and sales, equipment acquisitions, intercompany loans and royalty agreements. Contracts hedging short term trade receivables and payables normally have no hedging designation.

The following table presents the fair values for foreign currency hedge contracts that do not meet the criteria to be accounted for as cash flow hedging instruments:

	March 31,			December 31,
(In millions)		June 30,2025					December 31,2024
(In millions)	2025			2024
Fair Values — Current asset (liability):
Fair Values — Current asset (liability):
Accounts receivable		$	5				$	28
Accounts receivable	$	12		$	28
Other current liabilities		(55)					(3)
Other current liabilities		(22	)		(3	)

At ~~March 31~~June 30, 2025 and December 31, 2024, these outstanding foreign currency derivatives had notional amounts of $12,~~951~~159 million and $1,779 million, respectively, and were primarily related to intercompany loans. Other (Income) Expense included net transaction losses on derivatives of $1591 million and $106 million for the three and six months ended ~~March 31~~June 30, 2025. ~~and~~Other (Income) Expense included net transaction gains on derivatives of $3510 million and $45 million for the three and six months ended ~~March 31~~June 30, 2024. These amounts were substantially offset in Other (Income) Expense by the effect of changing exchange rates on the underlying currency exposures.

At ~~March 31~~June 30, 2025 and December 31, 2024, we did not have any open foreign currency hedge contracts that meet the criteria to be accounted for as cash flow hedging instruments.

We enter into master netting agreements with counterparties. The amounts eligible for offset under the master netting agreements are not material and we have elected a gross presentation of foreign currency contracts in the Consolidated Balance Sheets.

The following table presents the classification of changes in fair values of foreign currency contracts that meet the criteria to be accounted for as cash flow hedging instruments (before tax and minority):25

	Three Months Ended
	March 31,
(In millions)	2025		2024
Amount of gains (losses) deferred to Accumulated Other Comprehensive Loss ("AOCL")	$	—	$	—
Reclassification adjustment for amounts recognized in CGS		—		1

No net deferred losses at March 31, 2025 are expected to be reclassified to earnings within the next twelve months.

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toThe ~~these~~following ~~counterparties~~table bypresents diversifying across multiple counterparties, by setting counterparty credit limits based on long term credit ratings and other indicators of counterparty credit risk such as credit default swap spreads and default probabilities, and by monitoring the ~~financial~~classification ~~strength~~ of ~~these~~changes ~~counterparties on a regular basis. We also enter into master netting agreements with counterparties when possible. By controlling and monitoring exposure to counterparties~~ in ~~this~~fair ~~manner,~~values ~~we believe that we effectively manage the risk~~ of ~~loss~~foreign ~~due~~currency tocontracts ~~nonperformance~~that bymeet ~~a counterparty. However,~~ the ~~inability~~criteria ~~of a counterparty~~ to ~~fulfill~~be ~~its~~accounted ~~contractual~~for ~~obligations~~as tocash usflow ~~could~~hedging ~~have~~instruments a(before ~~material~~tax ~~adverse~~and ~~effect on our liquidity, financial position or results of operations in the period in which it occurs.~~minority):


	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2025		2024		2025		2024
Amount of gains (losses) deferred to Accumulated Other Comprehensive Loss ("AOCL")	$	—	$	—	$	—	$	—
Reclassification adjustment for amounts recognized in CGS	—		—		—		1

No net deferred losses at June 30, 2025 are expected to be reclassified to earnings within the next twelve months.

The counterparties to our foreign currency contracts were considered by us to be substantial and creditworthy financial institutions that were recognized market makers at the time we entered into those contracts. We seek to control our credit exposure to these counterparties by diversifying across multiple counterparties, by setting counterparty credit limits based on long term credit ratings and other indicators of counterparty credit risk such as credit default swap spreads and default probabilities, and by monitoring the financial strength of these counterparties on a regular basis. We also enter into master netting agreements with counterparties when possible. By controlling and monitoring exposure to counterparties in this manner, we believe that we effectively manage the risk of loss due to nonperformance by a counterparty. However, the inability of a counterparty to fulfill its contractual obligations to us could have a material adverse effect on our liquidity, financial position or results of operations in the period in which it occurs.

NOTE 10. FAIR VALUE MEASUREMENTS

The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheets at ~~March 31~~June 30, 2025 and December 31, 2024:

	Total Carrying Value in the Consolidated Balance Sheets						Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)					Significant OtherObservable Inputs(Level 2)					Significant Unobservable Inputs (Level 3)
		Total Carrying Valuein theConsolidatedBalance Sheets								Quoted Prices in ActiveMarkets for IdenticalAssets/Liabilities(Level 1)								Significant OtherObservable Inputs(Level 2)						SignificantUnobservableInputs(Level 3)
(In millions)	~~2025~~	2025		~~2024~~		2024	~~2025~~		~~2024~~	2025		~~2025~~		2024	~~2024~~		~~2025~~	2025		~~2024~~		2024		2025		2024
Assets:
Investments	$	16$	16	$	16	$	$16	16	$	16$	16	$	—	$	$16	—	$	—$	—	$	—	$	—	$	—	$	—
Foreign Exchange Contracts		125			28	28		—		—			12	—		28		—5			—	28		—		—
Total Assets at Fair Value	$	28$	21	$	44	$	$44	16	$	16$	16	$	12	$	$16	28	$	—$	5	$	—	$	28	$	—	$	—
Liabilities:
Foreign Exchange Contracts	$	22$	55	$	3	$	$3	—	$	—$	—	$	22	$	$—	3	$	—$	55	$	—	$	3	$	—	$	—
Total Liabilities at Fair Value	$	22$	55	$	3	$	$3	—	$	—$	—	$	22	$	$—	3	$	—$	55	$	—	$	3	$	—	$	—

The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding finance leases, at ~~March 31~~June 30, 2025 and December 31, 2024:

	March 31,			December 31,
(In millions)		June 30,2025				December 31,2024
(In millions)	2025			2024
Fixed Rate Debt:(1)
Fixed Rate Debt:(1)
Carrying amount — liability		$	5,027			$	5,367
Carrying amount — liability	$	4,892		$	5,367
Fair value — liability		4,933				5,076
Fair value — liability		4,670			5,076
Variable Rate Debt:(1)
Variable Rate Debt:(1)
Carrying amount — liability		$	2,045			$	1,600
Carrying amount — liability	$	2,448		$	1,600
Fair value — liability		2,013				1,590
Fair value — liability		2,408			1,590
(1)Excludes Notes Payable and Overdrafts of $499 million and $558 million at June 30, 2025 and December 31, 2024, respectively, of which $190 million and $241 million, respectively, are at fixed rates and $309 million and $317 million, respectively, are at variable rates. The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.

Excludes Notes Payable and Overdrafts of $436 million and $558 million at March 31, 2025 and December 31, 2024, respectively, of which $201 million and $241 million, respectively, are at fixed rates and $235 million and $317 million, respectively, are at variable rates. The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.26

Long term debt with fair values of $4,507 million and $4,921 million at March 31, 2025 and December 31, 2024, respectively, were estimated using quoted Level 1 market prices. The carrying value of the remaining debt was based upon internal estimates of fair value derived from market prices for similar debt.

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Long term debt with fair values of $4,766 million and $4,921 million at June 30, 2025 and December 31, 2024, respectively, were estimated using quoted Level 1 market prices. The carrying value of the remaining debt was based upon internal estimates of fair value derived from market prices for similar debt.

NOTE 11. PENSION, SAVINGS AND OTHER POSTRETIREMENT BENEFIT PLANS

We provide employees with defined benefit pension or defined contribution savings plans.

Defined benefit pension cost follows:

	~~U.S.~~	U.S.							U.S.
	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions)		2025					2024		2025		2024
(In millions)	2025			2024
Service cost		$	2				$	2	$	3	$	4
Service cost	$	1		$	2
Interest cost		40					43		81		87
Interest cost		41			44
Expected return on plan assets		(50)					(52)		(101)		(104)
Expected return on plan assets		(51	)		(52	)
Amortization of net losses		23					24		47		48
Amortization of net losses		24			24
Net periodic pension cost		$	15				$	17	$	30	$	35
Net periodic pension cost	$	15		$	18
Net curtailments/settlements/termination benefits		—					—		8		(5)
Net curtailments/settlements/termination benefits		8			(5	)
Total defined benefit pension cost		$	15				$	17	$	38	$	30
Total defined benefit pension cost	$	23		$	13

	~~Non-U.S.~~	Non-U.S.							Non-U.S.
	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions)		2025					2024		2025		2024
(In millions)	2025			2024
Service cost		$	4				$	4	$	8	$	9
Service cost	$	4		$	5
Interest cost		26					26		50		53
Interest cost		24			27
Expected return on plan assets		(24)					(22)		(46)		(45)
Expected return on plan assets		(22	)		(23	)
Amortization of prior service cost		1					1		1		1
Amortization of net losses		5			5		5		10		10
Net periodic pension cost	$	11$	12	$	14		$	14	$	23	$	28
Net curtailments/settlements/termination benefits		1—			—		—		1		—
Total defined benefit pension cost	$	12$	12	$	14		$	14	$	24	$	28

Service cost is recorded in CGS or SAG. Other components of net periodic pension cost are recorded in Other (Income) Expense. Net curtailments, settlements and termination benefits, if any, are recorded in Other (Income) Expense or Rationalizations if related to a rationalization plan.

In the first ~~quarter~~six months of 2025, a pension settlement charge of $4 million was recorded in Other (Income) Expense. The settlement charge resulted from total lump sum payments exceeding annual service and interest cost of the applicable plan. In addition, pension termination benefits charges of $4 million and $1 million were recorded related to the exit of employees under an approved rationalization plan and the sale of the OTR tire business, respectively.

In the first ~~quarter~~six months of 2024, a pension settlement credit of $5 million was recorded in Other (Income) Expense. The settlement credit resulted from a premium refund related to the purchase of a group annuity contract for the Cooper Tire U.S. salaried defined benefit pension plan in 2023.

We also provide certain U.S. employees and employees at certain non-U.S. subsidiaries with health care benefits or life insurance benefits upon retirement. There was no net other postretirement benefits expense for ~~the~~ three and six months ended ~~March 31~~June 30, 2025. ~~and~~Other ~~there~~postretirement ~~was~~benefits $2expense ~~million~~ for the three and six months ended ~~March 31~~June 30, 2024 was $2 million and $4 million, respectively.

We expect to contribute $25 million to $50 million to our funded non-U.S. pension plans in 2025. For the three and six months ended ~~March 31~~June 30, 2025, we contributed $67 million and $13 million, respectively, to our non-U.S. plans.

The expense recognized for our contributions to defined contribution savings plans for the three months ended ~~March~~June 30, 312025 and 2024 was $30 million and $33 million, respectively, and for the six months ended June 30, 2025 and 2024 was $3262 million and $3770 million, respectively.

~~NOTE 12. STOCK COMPENSATION PLANS~~27

Our Board of Directors granted 1.6 million restricted stock units and 1.0 million performance share units during the three months ended March 31, 2025 under our stock compensation plans. We measure the fair value of grants of restricted stock units and performance share units based primarily on the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The weighted average fair value per share was $9.75 for restricted stock units and $9.29 for performance share units granted during the three months ended March 31, 2025.

We recognized stock-based compensation expense of $6 million and $3 million during the three months ended March 31, 2025 and 2024, respectively. At March 31, 2025, unearned compensation cost related to the unvested portion of all stock-based awards

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~~was~~NOTE ~~approximately~~12. ~~$36~~STOCK ~~million~~COMPENSATION ~~and is expected to be recognized over the remaining vesting period of the respective grants, through the first quarter of 2028.~~ PLANS

Our Board of Directors granted 1.9 million restricted stock units and 1.0 million performance share units during the six months ended June 30, 2025 under our stock compensation plans. We measure the fair value of grants of restricted stock units and performance share units based primarily on the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The weighted average fair value per share was $9.79 for restricted stock units and $9.31 for performance share units granted during the six months ended June 30, 2025.

We recognized stock-based compensation expense of $5 million and $11 million during the three and six months ended June 30, 2025, respectively. At June 30, 2025, unearned compensation cost related to the unvested portion of all stock-based awards was approximately $27 million and is expected to be recognized over the remaining vesting period of the respective grants, through the second quarter of 2028. We recognized stock-based compensation expense of $6 million and $9 million during the three and six months ended June 30, 2024, respectively.

NOTE 13. COMMITMENTS AND CONTINGENT LIABILITIES

Environmental Matters

We have recorded liabilities totaling $7877 million and $81 million at ~~March 31~~June 30, 2025 and December 31, 2024, respectively, for anticipated costs related to various environmental matters, primarily the remediation of numerous waste disposal sites and certain properties sold by us. Of these amounts, $22 million and $24 million were included in Other Current Liabilities at ~~March 31~~June 30, 2025 and December 31, 2024, respectively. The costs include legal and consulting fees, site studies, the design and implementation of remediation plans, post-remediation monitoring and related activities, and will be paid over several years. The amount of our ultimate liability in respect of these matters may be affected by several uncertainties, primarily the ultimate cost of required remediation and the extent to which other responsible parties contribute. We have limited potential insurance coverage for future environmental claims.

Since many of the remediation activities related to environmental matters vary substantially in duration and cost from site to site and the associated costs for each vary depending on the mix of unique site characteristics, in some cases we cannot reasonably estimate a range of possible losses. Although it is not possible to estimate with certainty the outcome of all of our environmental matters, management believes that potential losses in excess of current reserves for environmental matters, individually and in the aggregate, will not have a material adverse effect on our financial position, cash flows or results of operations.

Workers’ Compensation

We have recorded liabilities, on a discounted basis, totaling $~~160 million and $~~158 million for anticipated costs related to workers’ compensation at ~~March~~both 31June 30, 2025 and December 31, 2024~~, respectively~~. Of these amounts, $3229 million and $31 million were included in Other Current Liabilities as part of Compensation and Benefits at ~~March 31~~June 30, 2025 and December 31, 2024, respectively. The costs include an estimate of expected settlements on pending claims, defense costs and a provision for claims incurred but not reported. These estimates are based on our assessment of potential liability using an analysis of available information with respect to pending claims, historical experience and current cost trends. The amount of our ultimate liability in respect of these matters may differ from these estimates. We periodically, and at least annually, update our loss development factors based on actuarial analyses. At ~~March 31~~June 30, 2025 and December 31, 2024, the liability was discounted using a risk-free rate of return. At ~~March 31~~June 30, 2025, we estimate that it is reasonably possible that the liability could exceed our recorded amounts by approximately $25 million.

General and Product Liability and Other Litigation

We have recorded liabilities for both asserted and unasserted claims totaling $~~402~~415 million and $406 million, including related legal fees expected to be incurred, for potential product liability and other tort claims, including asbestos claims, at ~~March 31~~June 30, 2025 and December 31, 2024, respectively. Of these amounts, $7285 million and $60 million were included in Other Current Liabilities at ~~March 31~~June 30, 2025 and December 31, 2024, respectively. The amounts recorded were estimated based on an assessment of potential liability using an analysis of available information with respect to pending claims, historical experience and, where available, recent and current trends. Based upon that assessment, at ~~March 31~~June 30, 2025, we do not believe that estimated reasonably possible losses associated with general and product liability claims in excess of the amounts recorded will have a material adverse effect on our financial position, cash flows or results of operations. However, the amount of our ultimate liability in respect of these matters may differ from these estimates.

We have recorded an indemnification asset within Accounts Receivable of $4 million and within Other Assets of $2 million for SRI's obligation to indemnify us for certain product liability claims related to products manufactured by a formerly consolidated joint venture entity, subject to certain caps and restrictions.

Asbestos. We are a defendant in numerous lawsuits alleging various asbestos-related personal injuries purported to result from alleged exposure to asbestos in certain products manufactured by us or present in certain of our facilities. Typically, these lawsuits have been brought against multiple defendants in state and federal courts. To date, we have disposed of approximately 163,800 claims by defending, obtaining the dismissal thereof, or entering into a settlement. The sum of our accrued asbestos-related liability and gross payments to date, including legal costs, by us and our insurers totaled approximately $593 million through March 31, 2025 and $589 million through December 31, 2024.

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164,100 claims by defending, obtaining the dismissal thereof, or entering into a settlement. The sum of our accrued asbestos-related liability and gross payments to date, including legal costs, by us and our insurers totaled approximately $597 million through June 30, 2025 and $589 million through December 31, 2024.

A summary of recent approximate asbestos claims activity follows. Because claims are often filed and disposed of by settlement or dismissal in large numbers, the amount and timing of filings, settlements and dismissals and the number of open claims during a particular period can fluctuate significantly.

	Three Months Ended			Year Ended
(Dollars in millions)		Six Months Ended June 30, 2025					Year EndedDecember 31, 2024
(Dollars in millions)	March 31, 2025			December 31, 2024
Pending claims, beginning of period		35,400					35,800
Pending claims, beginning of period		35,400			35,800
New claims filed		360					900
New claims filed		200			900
Claims settled/dismissed		(2,900)					(1,300)
Claims settled/dismissed		(2,600	)		(1,300	)
Pending claims, end of period		32,860					35,400
Pending claims, end of period		33,000			35,400
Payments(1)		$	7				$	14
Payments(1)	$	3		$	14
(1)Represents cash payments made during the period by us and our insurers for asbestos litigation defense and claim resolution.

~~Represents~~We ~~cash~~periodically, ~~payments~~and ~~made~~at ~~during~~least annually, review our existing reserves for pending claims, including a reasonable estimate of the ~~period~~liability byassociated uswith unasserted asbestos claims, and estimate our ~~insurers~~receivables from probable insurance recoveries. We recorded gross liabilities for ~~asbestos~~both ~~litigation~~asserted and unasserted claims, inclusive of defense costs, totaling $116 million and ~~claim~~$115 ~~resolution~~million at June 30, 2025 and December 31, 2024, respectively. In determining the estimate of our asbestos liability, we evaluated claims over the next ten-year period. Due to the difficulties in making these estimates, analysis based on new data and/or a change in circumstances arising in the future may result in an increase in the recorded obligation, and that increase could be significant.

We periodically, and at least annually, review our existing reserves for pending claims, including a reasonable estimate of the liability associated with unasserted asbestos claims, and estimate our receivables from probable insurance recoveries. We recorded gross liabilities for both asserted and unasserted claims, inclusive of defense costs, totaling $116 million and $115 million at March 31, 2025 and December 31, 2024, respectively. In determining the estimate of our asbestos liability, we evaluated claims over the next ten-year period. Due to the difficulties in making these estimates, analysis based on new data and/or a change in circumstances arising in the future may result in an increase in the recorded obligation, and that increase could be significant.

We maintain certain primary and excess insurance coverage under coverage-in-place agreements, and also have additional excess liability insurance with respect to asbestos liabilities. After consultation with our outside legal counsel and giving consideration to agreements with certain of our insurance carriers, the financial viability and legal obligations of our insurance carriers and other relevant factors, we determine an amount we expect is probable of recovery from such carriers. We record a receivable with respect to such policies when we determine that recovery is probable and we can reasonably estimate the amount of a particular recovery.

We recorded an insurance receivable related to asbestos claims of $64 million and $63 million at ~~March 31~~June 30, 2025 and December 31, 2024, respectively. We expect that approximately 55% of asbestos claim related losses would be recoverable through insurance during the ten-year period covered by the estimated liability. Of these amounts, $11 million ~~were~~was included in Current Assets as part of Accounts Receivable at both ~~March 31~~June 30, 2025 and December 31, 2024. The recorded receivable consists of an amount we expect to collect under coverage-in-place agreements with certain primary and excess insurance carriers as well as an amount we believe is probable of recovery from certain of our other excess insurance carriers.

We believe that, at December 31, 2024, we had approximately $520 million in excess level policy limits applicable to indemnity and defense costs for asbestos products claims under coverage-in-place agreements. We also had additional unsettled excess level policy limits potentially applicable to such costs. In addition, we had coverage under certain primary policies for indemnity and defense costs for asbestos products claims under remaining aggregate limits pursuant to a coverage-in-place agreement, as well as coverage for indemnity and defense costs for asbestos premises claims pursuant to coverage-in-place agreements.

With respect to both asserted and unasserted claims, it is reasonably possible that we may incur a material amount of cost in excess of the current reserve; however, such amounts cannot be reasonably estimated. Coverage under insurance policies is subject to varying characteristics of asbestos claims including, but not limited to, the type of claim (premise vs. product exposure), alleged date of first exposure to our products or premises and disease alleged. Recoveries may also be limited by insurer insolvencies or financial difficulties. Depending upon the nature of these characteristics or events, as well as the resolution of certain legal issues, some portion of the insurance may not be accessible by us.

Other Actions

We are currently a party to various claims, indirect tax assessments and legal proceedings in addition to those noted above. If management believes that a loss arising from these matters is probable and can reasonably be estimated, we record the amount of the loss, or the minimum estimated liability when the loss is estimated using a range and no point within the range is more probable than another. As additional information becomes available, any potential liability related to these matters is assessed and the estimates are revised, if necessary. Based on currently available information, management believes that the ultimate ~~outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial position or overall trends in results of operations.~~

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~~unfavorable~~outcome ~~judicial~~of orthese ~~administrative decisions could occur which we did not anticipate. Such an unfavorable decision could include monetary damages~~matters, ~~fines~~individually orand ~~other~~in ~~penalties~~the ~~or an injunction prohibiting us from taking certain actions or selling certain products. If such an unfavorable decision were to occur~~aggregate, itwill ~~could~~not ~~result~~have in a material adverse ~~impact~~effect on our financial position ~~and~~or ~~results~~overall oftrends ~~operations~~ in ~~the~~results ~~period~~of ~~in which the decision occurs or in future periods~~operations.

Our recorded liabilities and estimates of reasonably possible losses for the contingent liabilities described above are based on our assessment of potential liability using the information available to us at the time and, where applicable, any past experience and recent and current trends with respect to similar matters. Our contingent liabilities are subject to inherent uncertainties, and unfavorable judicial or administrative decisions could occur which we did not anticipate. Such an unfavorable decision could include monetary damages, fines or other penalties or an injunction prohibiting us from taking certain actions or selling certain products. If such an unfavorable decision were to occur, it could result in a material adverse impact on our financial position and results of operations in the period in which the decision occurs or in future periods.

Income Tax Matters

The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations. We recognize liabilities for anticipated tax audit issues based on our estimate of whether, and the extent to which, additional taxes will be due. If we ultimately determine that payment of these amounts is unnecessary, we reverse the liability and recognize a tax benefit during the period in which we determine that the liability is no longer necessary. We also recognize income tax benefits to the extent that it is more likely than not that our positions will be sustained when challenged by the taxing authorities. We derecognize income tax benefits when based on new information we determine that it is no longer more likely than not that our position will be sustained. To the extent we prevail in matters for which liabilities have been established, or determine we need to derecognize tax benefits recorded in prior periods, our results of operations and effective tax rate in a given period could be materially affected. An unfavorable tax settlement would require use of our cash, and lead to recognition of expense to the extent the settlement amount exceeds recorded liabilities and, in the case of an income tax settlement, result in an increase in our effective tax rate in the period of resolution. A favorable tax settlement would be recognized as a reduction of expense to the extent the settlement amount is lower than recorded liabilities and, in the case of an income tax settlement, would result in a reduction in our effective tax rate in the period of resolution.

Following an audit by the IRS, we received a Notice of Proposed Adjustment ("NOPA") during the second quarter of 2025 related to an intercompany sale of certain intellectual property in 2021. The IRS proposes to disallow income recognition totaling $1.5 billion associated with this transaction. The federal tax charge related to that income recognition was fully offset by the utilization of $315 million of then-existing deferred tax assets, including tax loss carryforwards and foreign tax credits.

While the Company applies consistent transfer pricing policies and practices globally, supports transfer prices through economic studies, seeks advance pricing agreements and joint audits to the extent possible and believes its transfer prices to be appropriate, such transfer prices, and related interpretations of tax laws, are occasionally challenged by various taxing authorities globally. We have received various tax assessments challenging our interpretations of applicable tax laws in various jurisdictions. Although we believe we have complied with applicable tax laws, have strong positions and defenses and have historically been successful in defending such claims, our results of operations could be materially adversely affected in the case we are unsuccessful in the defense of existing or future claims.

Binding Commitments and Guarantees

We have off-balance sheet financial guarantees and other commitments totaling $29 million at both ~~March 31~~June 30, 2025 and December 31, 2024. We issue guarantees to financial institutions or other entities on behalf of certain of our affiliates, lessors or customers. We generally do not ~~receive a separate premium as consideration for, and do not~~ require collateral in connection with, the issuance of these guarantees.

In 2015, as a result of the dissolution of the global alliance with SRI, we issued a guarantee of $46 million to an insurance company related to SRI's obligation to pay certain outstanding workers' compensation claims of a formerly consolidated joint venture entity. As of ~~March 31~~June 30, 2025, this guarantee amount has been reduced to $15 million. We have concluded the probability of our performance to be remote and, therefore, have not recorded a liability for this guarantee. While there is no fixed duration of this guarantee, we expect the amount of this guarantee to continue to decrease over time as the formerly consolidated joint venture entity pays its outstanding claims.

If our performance under these guarantees is triggered by non-payment or another specified event, we would be obligated to make payment to the financial institution or the other entity, and would typically have recourse to the affiliate, lessor, customer or SRI, as applicable. We are unable to estimate the extent to which our lessors’, customers’ or SRI's assets would be adequate to recover any payments made by us under the related guarantees.

We have an agreement to provide a revolving loan commitment to TireHub, LLC of up to $130 million. At March 31, 2025, $125 million was drawn on this commitment, which includes $2 million of interest. At December 31, 2024, $119 million was drawn on this commitment, which includes $2 million of interest.30

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We have an agreement to provide a revolving loan commitment to TireHub, LLC of up to $130 million. The carrying value of our net investment in TireHub was $83 million and $110 million, which includes an outstanding loan receivable of $117 million and $119 million, including $2 million of interest, at June 30, 2025 and December 31, 2024, respectively, and was included in Other Assets on our Consolidated Balance Sheets. Our investment in TireHub is accounted for under the equity method of accounting and, as such, includes our 50% share of the net income (losses) of TireHub.

NOTE 14. CAPITAL STOCK

Common Stock Repurchases

We may repurchase shares delivered to us by employees as payment for the exercise price of stock options and the withholding taxes due upon the exercise of stock options or the vesting or payment of stock awards. During the first ~~three~~six months of 2025, we did not repurchase any shares from employees.

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NOTE 15. ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables present changes in AOCL, by component, for the ~~three~~six months ended ~~March 31~~June 30, 2025 and 2024, after tax and minority interest.

(In millions) Income (Loss)	~~ForeignCurrencyTranslationAdjustment~~	ForeignCurrencyTranslationAdjustment		~~Unrealized Gains (Losses) from Securities~~		Unrealized Gains (Losses) from Securities	~~UnrecognizedNet ActuarialLosses andPrior ServiceCosts~~			~~DeferredDerivativeGains (Losses)~~	UnrecognizedNet ActuarialLosses andPrior ServiceCosts		~~Total~~			DeferredDerivativeGains (Losses)		Total
Balance at December 31, 2024	$	~~(1,705~~$	(1,705)	$	1	$	$1	~~(2,140~~	)	$	—$	(2,140)	$	~~(3,844~~	)	$	—	$	(3,844)
Other comprehensive income (loss) before reclassifications		164			—	—		10			—8			26		—		12
Amounts reclassified from accumulated other comprehensive loss		10			—			21			—			31
Amounts reclassified from accumulated other comprehensive income (loss)		8				—					40					—		48
Balance at March 31, 2025	$	(1,679	)	$	1		$	(2,109	)	$	—		$	(3,787	)
Balance at June 30, 2025		$	(1,693)			$	1				$	(2,092)				$	—	$	(3,784)

(In millions) Income (Loss)	~~ForeignCurrencyTranslationAdjustment~~	ForeignCurrencyTranslationAdjustment		~~Unrealized Gains (Losses) from Securities~~		Unrealized Gains (Losses) from Securities	~~UnrecognizedNet ActuarialLosses andPrior ServiceCosts~~			~~DeferredDerivativeGains (Losses)~~	UnrecognizedNet ActuarialLosses andPrior ServiceCosts		~~Total~~			DeferredDerivativeGains (Losses)		Total
Balance at December 31, 2023	$	~~(1,613~~$	(1,613)	$	1	$	$1	~~(2,224~~	)	$	1$	(2,224)	$	~~(3,835~~	)	$	1	$	(3,835)
Other comprehensive income (loss) before reclassifications		(655)	)		—	—		4			—10			(2	)	—		(45)
Amounts reclassified from accumulated other comprehensive loss		—			—			17			1			18
Amounts reclassified from accumulated other comprehensive income (loss)		—				—					37					1		38
Balance at March 31, 2024	$	(1,619	)	$	1		$	(2,203	)	$	2		$	(3,819	)
Balance at June 30, 2024		$	(1,668)			$	1				$	(2,177)				$	2	$	(3,842)

~~The following table presents reclassifications out of AOCL:~~31

	Three Months EndedMarch 31,
	2025			2024
(In millions) (Income) Expense	Amount Reclassified						Affected Line Item in the Consolidated
Component of AOCL	from AOCL						Statements of Operations
Foreign currency translation adjustment, before tax	$	10		$	—		Net (Gain) Loss on Asset Sales
Tax effect		—			—		United States and Foreign Taxes
Net of tax	$	10		$	—		Goodyear Net Income (Loss)
Amortization of prior service cost and unrecognized gains and losses	$	25		$	28		Other (Income) Expense
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures		2			(5	)	Other (Income) Expense / Rationalizations / Net (Gain) Loss on Asset Sales
Unrecognized net actuarial losses and prior service costs, before tax		27			23
Tax effect		(6	)		(6	)	United States and Foreign Taxes
Net of tax	$	21		$	17		Goodyear Net Income (Loss)
Deferred derivative (gains) losses, before tax	$	—		$	1		Cost of Goods Sold
Tax effect		—			—		United States and Foreign Taxes
Net of tax	$	—		$	1		Goodyear Net Income (Loss)
Total reclassifications	$	31		$	18		Goodyear Net Income (Loss)

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The following table presents reclassifications out of AOCL:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
(In millions) (Income) Expense	Amount Reclassified from AOCL				Amount Reclassified from AOCL				Affected Line Item in the Consolidated Statements of Operations
Component of AOCL
Foreign currency translation adjustment, before tax	$	(2)	$	—	$	8	$	—	Net (Gain) Loss on Asset Sales
Tax effect	—		—		—		—		United States and Foreign Taxes
Net of tax	$	(2)	$	—	$	8	$	—	Goodyear Net Income (Loss)

Amortization of prior service cost and unrecognized gains and losses	$	26	$	26	$	51	$	54	Other (Income) Expense
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures	—		—		2		(5)		Other (Income) Expense / Rationalizations
Unrecognized net actuarial losses and prior service costs, before tax	$	26	$	26	$	53	$	49
Tax effect	(7)		(6)		(13)		(12)		United States and Foreign Taxes

Net of tax	$	19	$	20	$	40	$	37	Goodyear Net Income (Loss)

Deferred derivative (gains) losses, before tax	$	—	$	—	$	—	$	1	Cost of Goods Sold
Tax effect	—		—		—		—		United States and Foreign Taxes
Net of tax	$	—	$	—	$	—	$	1	Goodyear Net Income (Loss)
Total reclassifications	$	17	$	20	$	48	$	38	Goodyear Net Income (Loss)

The following table presents the details of comprehensive income (loss) attributable to minority shareholders:

	Three Months Ended
		Three Months EndedJune 30,							Six Months EndedJune 30,
	March 31,
(In millions)		2025					2024		2025		2024
(In millions)	2025			2024
Net Income (Loss) Attributable to Minority Shareholders		$	27				$	(6)	$	30	$	(7)
Net Income (Loss) Attributable to Minority Shareholders	$	3		$	(1	)
Other Comprehensive Income (Loss):
Other Comprehensive Income (Loss):
Foreign currency translation		5					(1)		8		(4)
Foreign currency translation		3			(3	)
Other Comprehensive Income (Loss)		$	5				$	(1)	$	8	$	(4)
Other Comprehensive Income (Loss)	$	3		$	(3	)
Comprehensive Income (Loss) Attributable to Minority Shareholders		$	32				$	(7)	$	38	$	(11)
Comprehensive Income (Loss) Attributable to Minority Shareholders	$	6		$	(4	)

2732

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NOTE 16. REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

As discussed in Note 1, in preparing the consolidated financial statements as of and for the three and six months ended June 30, 2025, we identified errors in our previously issued financial statements related to our historical computation of currency remeasurement of our foreign operations in Turkey, which was designated as a highly inflationary economy beginning April 1, 2022. The identified errors impacted our previously issued 2022, 2023 and 2024 annual and interim financial statements. The impact of the errors on the previously issued consolidated statements of operations and comprehensive income for the quarter ended March 31, 2025 were de minimis. There were no impacts on previously reported cash flows from operating, investing and financing activities in any prior periods.

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The following tables reflect the impact of the revision to the specific line items presented in our previously reported financial information.

Impacts to Consolidated Statements of Operations and Comprehensive Income (in millions, except per share data)


	Year Ended December 31, 2024						Year Ended December 31, 2023						Year Ended December 31, 2022
	As Reported		Revision		As Revised		As Reported		Revision		As Revised		As Reported		Revision		As Revised
Cost of Goods Sold	$	15,176	$	16	$	15,192	$	16,557	$	25	$	16,582	$	16,953	$	2	$	16,955
Other Expense (1)	$	125	$	9	$	134	$	212	$	19	$	231	$	197	$	12	$	209
Net Income (Loss)	$	60	$	(25)	$	35	$	(687)	$	(44)	$	(731)	$	209	$	(14)	$	195
Minority Shareholders’ Net Income (Loss)	$	(10)	$	(1)	$	(11)	$	2	$	(4)	$	(2)	$	7	$	(3)	$	4
Goodyear Net Income (Loss)	$	70	$	(24)	$	46	$	(689)	$	(40)	$	(729)	$	202	$	(11)	$	191
Comprehensive Income (Loss)	$	50	$	(25)	$	25	$	(643)	$	(44)	$	(687)	$	280	$	(14)	$	266
Comprehensive Income (Loss) Attributable to Minority Shareholders	$	(11)	$	(1)	$	(12)	$	6	$	(4)	$	2	$	(10)	$	(3)	$	(13)
Goodyear Comprehensive Income (Loss)	$	61	$	(24)	$	37	$	(649)	$	(40)	$	(689)	$	290	$	(11)	$	279
Basic EPS	$	0.24	$	(0.08)	$	0.16	$	(2.42)	$	(0.14)	$	(2.56)	$	0.71	$	(0.04)	$	0.67
Diluted EPS	$	0.24	$	(0.08)	$	0.16	$	(2.42)	$	(0.14)	$	(2.56)	$	0.71	$	(0.04)	$	0.67
(1) Other Expense also reflects the reclassification of Net (Gain) Loss on Asset Sales of $(122) million, $(104) million, and $(93) million for the years ended December 31, 2022, 2023 and 2024, respectively, to conform to the current presentation.

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	Nine Months Ended September 30, 2024						Three Months Ended September 30, 2024						Six Months Ended June 30, 2024						Three Months Ended June 30, 2024						Three Months Ended March 31, 2024
	As Reported		Revision		As Revised		As Reported		Revision		As Revised		As Reported		Revision		As Revised		As Reported		Revision		As Revised		As Reported		Revision		As Revised
Cost of Goods Sold	$	11,218	$	13	$	11,231	$	3,881	$	1	$	3,882	$	7,337	$	12	$	7,349	$	3,622	$	5	$	3,627	$	3,715	$	7	$	3,722
Other Expense (1)	$	87	$	8	$	95	$	35	$	1	$	36	$	52	$	7	$	59	$	24	$	2	$	26	$	28	$	5	$	33
Net Income (Loss)	$	(12)	$	(21)	$	(33)	$	(34)	$	(2)	$	(36)	$	22	$	(19)	$	3	$	80	$	(7)	$	73	$	(58)	$	(12)	$	(70)
Minority Shareholders’ Net Income (Loss)	$	(6)	$	—	$	(6)	$	—	$	1	$	1	$	(6)	$	(1)	$	(7)	$	(5)	$	(1)	$	(6)	$	(1)	$	—	$	(1)
Goodyear Net Income (Loss)	$	(6)	$	(21)	$	(27)	$	(34)	$	(3)	$	(37)	$	28	$	(18)	$	10	$	85	$	(6)	$	79	$	(57)	$	(12)	$	(69)
Comprehensive Income (Loss)	$	55	$	(21)	$	34	$	44	$	(2)	$	42	$	11	$	(19)	$	(8)	$	56	$	(7)	$	49	$	(45)	$	(12)	$	(57)
Comprehensive Income (Loss) Attributable to Minority Shareholders	$	(2)	$	—	$	(2)	$	8	$	1	$	9	$	(10)	$	(1)	$	(11)	$	(6)	$	(1)	$	(7)	$	(4)	$	—	$	(4)
Goodyear Comprehensive Income (Loss)	$	57	$	(21)	$	36	$	36	$	(3)	$	33	$	21	$	(18)	$	3	$	62	$	(6)	$	56	$	(41)	$	(12)	$	(53)
Basic EPS	$	(0.02)	$	(0.07)	$	(0.09)	$	(0.12)	$	(0.01)	$	(0.13)	$	0.10	$	(0.06)	$	0.04	$	0.30	$	(0.02)	$	0.28	$	(0.20)	$	(0.04)	$	(0.24)
Diluted EPS	$	(0.02)	$	(0.07)	$	(0.09)	$	(0.12)	$	(0.01)	$	(0.13)	$	0.10	$	(0.06)	$	0.04	$	0.30	$	(0.02)	$	0.28	$	(0.20)	$	(0.04)	$	(0.24)
(1) Other Expense also reflects the reclassification of Net (Gain) Loss on Asset Sales of $2 million, $(96) million and $(1) million for the three months ended March 31, 2024, June 30, 2024, and September 30, 2024, respectively, $(94) million for the six months ended June 30, 2024, and $(95) million for the nine months ended September 30, 2024, to conform to the current presentation.

Impacts to Consolidated Balance Sheets and Statements of Shareholders' Equity (in millions)


	December 31, 2024						December 31, 2023
	As Reported		Revision		As Revised		As Reported		Revision		As Revised
Inventories	$	3,597	$	(43)	$	3,554	$	3,698	$	(27)	$	3,671
Total Current Assets	$	7,632	$	(43)	$	7,589	$	7,650	$	(27)	$	7,623
Total Assets	$	20,964	$	(43)	$	20,921	$	21,582	$	(27)	$	21,555
Accounts Payable — Trade	$	4,052	$	40	$	4,092	$	4,326	$	31	$	4,357
Total Current Liabilities	$	7,337	$	40	$	7,377	$	7,147	$	31	$	7,178
Total Liabilities	$	16,058	$	40	$	16,098	$	16,745	$	31	$	16,776
Retained Earnings	$	5,156	$	(75)	$	5,081	$	5,086	$	(51)	$	5,035
Goodyear Shareholders' Equity	$	4,756	$	(75)	$	4,681	$	4,668	$	(51)	$	4,617
Minority Shareholders' Equity	$	150	$	(8)	$	142	$	169	$	(7)	$	162
Total Shareholders' Equity	$	4,906	$	(83)	$	4,823	$	4,837	$	(58)	$	4,779
Total Liabilities and Shareholders' Equity	$	20,964	$	(43)	$	20,921	$	21,582	$	(27)	$	21,555

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

All per share amounts are diluted and refer to Goodyear net income (loss).

OVERVIEW

The Goodyear Tire & Rubber Company (the "Company," "Goodyear," "we," "us" or "our") is one of the world’s leading manufacturers of tires, with one of the most recognizable brand names in the world and operations in most regions of the world. We have a broad global footprint with 53 manufacturing facilities in 20 countries, including the United States. We operate our business through three operating segments representing our regional tire businesses: Americas; Europe, Middle East and Africa (“EMEA”); and Asia Pacific.

Results of Operations

On November 15, 2023, we announced a transformation plan, Goodyear Forward, that is intended to optimize our portfolio of products, deliver segment operating margin expansion and reduce our leverage in order to drive sustainable, long-term shareholder value creation. Optimization of our portfolio consisted of a strategic review of three major asset groups: our chemical operations which produces synthetic rubber and other chemical products in our Americas segment, the Dunlop brand for which we own rights in certain markets throughout the world, but is primarily used in our EMEA segment, and our global off-the-road ("OTR") tire business. Our plans for margin expansion include brand optimization and tiering to capitalize on premium tire pricing and volume and a reduction of our overall exposure related to lower-tiered products either through margin expansion or product line rationalization, resulting in an expected annual run-rate benefit of approximately $200 million by the end of 2025. Our plans for margin expansion also include a reduction of our cost structure by approximately $1.3 billion by the end of 2025, including actions related to our manufacturing footprint, plant optimization, further improvement of our purchasing leverage, reduction of Selling, Administrative and General expenses (“SAG”) and improvements in our supply chain planning and logistics. ~~We anticipate the accumulated benefit of these actions will improve our segment operating margin to approximately 10% by the end of 2025.~~ During the ~~three~~six months ended ~~March 31~~June 30, 2025, the Goodyear Forward plan provided $~~200~~395 million in benefits to segment operating income.

On January 7, 2025, we entered into a Purchase Agreement, dated as of January 7, 2025 (the "Dunlop Purchase Agreement"), with Sumitomo Rubber Industries, Ltd. ("SRI") relating to the sale of our rights to the Dunlop brand in Europe, North America and Oceania for consumer, commercial and other specialty tires, together with certain associated intellectual property and other intangible assets, for a purchase price of $526 million. SRI will also pay us an up-front transition support fee of $105 million for our support in transitioning the Dunlop brand, related intellectual property and Dunlop customers to SRI. SRI will also acquire our existing Dunlop tire inventory. The Dunlop Purchase Agreement also contemplates entering into a number of ancillary agreements, including (a) a transition license agreement, pursuant to which we will continue to manufacture, sell and distribute Dunlop-branded consumer tires in Europe from the closing of the transaction until December 31, 2025, and during which we will pay SRI a royalty on such Dunlop sales but will otherwise retain all profits therefrom; (b) a transition offtake agreement, pursuant to which we will sell to SRI certain Dunlop-branded consumer tire products for a period of up to five years, commencing after termination or expiration of the transition license agreement; and (c) we will license back the Dunlop brand from SRI for commercial tires in Europe on a long-term basis, subject to a royalty on sales. On May 7, 2025, we completed the sale of the Dunlop brand and related transactions and received gross cash proceeds of $735 million.

On February 3, 2025, we completed the sale of our OTR tire business to The Yokohama Rubber Company, Limited (“Yokohama”) pursuant to the terms of the Share and Asset Purchase Agreement, dated as of July 22, 2024 (the “OTR Purchase Agreement”). Yokohama acquired our OTR tire business for a purchase price of $905 million in cash, subject to certain adjustments set forth in the OTR Purchase Agreement. In conjunction with the sale of the OTR tire business, we entered into several ancillary agreements, including a trademark license agreement, whereby we license certain trademarks to Yokohama for an initial period of ten years from the date of the sale, and a product supply agreement, pursuant to which we will supply to Yokohama certain OTR tires for an initial period of up to five years, subject to the terms and conditions set forth therein, including an exit and asset relocation plan to be mutually agreed upon by the parties pursuant to which, beginning no earlier than the second anniversary of closing of the transaction, the production of those OTR tires will transition to Yokohama’s facilities. The cash received of $905 million included $185 million for deferred amounts related to the trademark license and product supply agreements that are presented in operating activities and $720 million for proceeds that are presented in investing activities on our Consolidated Statements of Cash Flows.

On May 7, 2025, we completed the sale of our rights to the Dunlop brand in Europe, North America and Oceania for consumer, commercial and other specialty tires, together with certain associated intellectual property and other intangible assets, for a purchase price of $526 million to Sumitomo Rubber Industries, Ltd. ("SRI") pursuant to the terms of the Purchase Agreement, dated as of January 7, 2025 (as amended, the "Dunlop Purchase Agreement"). SRI also paid us an up-front transition support fee of $105 million for our support in transitioning the Dunlop brand, related intellectual property and Dunlop customers to SRI. SRI also acquired our existing Dunlop tire inventory for approximately $104 million. We also entered into a number of ancillary agreements, including (a) a transition license agreement, pursuant to which we will continue to manufacture, sell and distribute Dunlop-branded consumer tires in Europe from the closing of the transaction until December 31, 2025, and during which we will pay SRI a royalty on such Dunlop sales; (b) a transition offtake agreement, pursuant to which we will sell to SRI certain Dunlop-branded consumer tire products for a period of up to five years, commencing after termination or expiration of the transition license agreement; and (c) we will license back the Dunlop brand from SRI for commercial tires in Europe on a long-term basis, subject to a royalty on sales.

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During the first quarter of 2025, we reached an agreement with the United Steelworkers and approved a rationalization plan to eliminate our production of commercial tires in our Danville, Virginia tire manufacturing facility ("Danville") in order to reduce our production cost per tire in Americas. The plan includes approximately 850 job reductions, including associates and contracted positions. Danville will continue to produce aviation tires and conduct mixing operations. We expect to substantially complete this rationalization plan by the end of 2025.

28During the second quarter of 2025, we approved a proposed plan to close our manufacturing facility in Kariega, South Africa in the EMEA business unit ("Kariega"). The plan includes approximately 900 job reductions, including associates and contracted positions, and is expected to be substantially complete by the end of 2025. The rationalization plan remains subject to consultation with employee representative bodies.

Our results for the second quarter of 2025 include a 5.3% decrease in tire unit shipments compared to 2024 due to lower global tire volume. In the second quarter of 2025, we experienced approximately $55 million of inflationary cost pressures.

Net sales in the second quarter of 2025 were $4,465 million, compared to $4,570 million in the second quarter of 2024. Net sales decreased in 2025 primarily due to lower global tire volume and the impacts of our divestitures, primarily from the sale of the OTR tire business. These decreases were partially offset by global increases in price and product mix, higher sales in other tire-related businesses, primarily due to growth in Fleet Solutions in EMEA, higher retread sales in EMEA and Americas and higher global aviation sales, and benefits from the Goodyear Forward plan.

In the second quarter of 2025, Goodyear net income was $254 million, or $0.88 per share, compared to Goodyear net income of $79 million, or $0.28 per share, in the second quarter of 2024. The change in Goodyear net income was primarily due a gain on the sale of the Dunlop brand and lower interest expense, partially offset by lower segment operating income and higher rationalization charges.

Total segment operating income for the second quarter of 2025 was $159 million, compared to $334 million in the second quarter of 2024. The $175 million decrease was primarily due to higher raw material costs of $174 million, increased conversion costs of $90 million, driven by the effect of lower tire production on fixed cost absorption and inflation, a net benefit from insurance recoveries in 2024 of $63 million, higher SAG of $54 million when excluding Goodyear Forward savings, lower tire volume of $37 million, and the impact of the sale of the OTR tire business of $23 million. These decreases were partially offset by benefits from the Goodyear Forward plan of $195 million and benefits from price and product mix of $91 million. Refer to "Results of Operations — Segment Information" for additional information.

Net sales in the first six months of 2025 were $8,718 million, compared to $9,107 million in the first six months of 2024. Net sales decreased in 2025 primarily due to lower global tire volume, the impacts of our divestitures, primarily from the sale of the OTR tire business, and the negative impact of changes in foreign exchange rates globally. These decreases were partially offset by favorable price and product mix, higher sales in other tire-related businesses, primarily due to growth in Fleet Solutions in EMEA and higher retread sales in EMEA and Americas, and benefits from the Goodyear Forward plan.

In the first six months of 2025, Goodyear net income was $369 million, or $1.28 per share, compared to Goodyear net income of $10 million, or $0.04 per share, in the first six months of 2024. The change in Goodyear net income was primarily due to gains on the sales of the OTR tire business and the Dunlop brand and lower interest expense, partially offset by higher rationalization charges and lower segment operating income.

Total segment operating income for the first six months of 2025 was $354 million, compared to $574 million in the first six months of 2024. The $220 million decrease was primarily due to higher raw material costs of $352 million, increased conversion costs of $105 million, driven by the effect of lower tire production on fixed cost absorption, higher SAG of $97 million when excluding Goodyear Forward savings, lower tire volume of $70 million, higher transportation costs of $48 million, the impact of the sale of the OTR tire business of $35 million, $32 million related to net insurance recoveries received in 2024 related to the Debica fire, a benefit of $20 million in 2024 from insurance proceeds for business interruptions resulting from storm damage events in prior years, and the negative impact of changes in foreign exchange rates globally of $17 million. These decreases were partially offset by benefits from the Goodyear Forward plan of $395 million and global improvements in price and product mix of $159 million. Refer to "Results of Operations —Segment Information" for additional information.

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Our results for the first quarter of 2025 include a 4.8% decrease in tire unit shipments compared to 2024 due to lower global tire volume. In the first quarter of 2025, we experienced approximately $55 million of inflationary cost pressures.

Net sales in the first three months of 2025 were $4,253 million, compared to $4,537 million in the first three months of 2024. Net sales decreased in 2025 primarily due to lower global tire volume, the impact of changes in foreign exchange rates globally, driven by the strengthening of the U.S. dollar, and the impact of the sale of the OTR tire business, primarily in Asia Pacific. These decreases were partially offset by favorable price and product mix and higher sales in other tire-related businesses, primarily due to higher third-party chemical sales in Americas.

In the first three months of 2025, Goodyear net income was $115 million, or $0.40 per share, compared to Goodyear net loss of $57 million, or $0.20 per share, in the first three months of 2024. The change in Goodyear net income was primarily due to a gain on the sale of the OTR tire business, partially offset by higher rationalization charges, lower segment operating income and higher U.S. and Foreign Tax Expense.

Total segment operating income for the first three months of 2025 was $195 million, compared to $247 million in the first three months of 2024. The $52 million decrease was primarily due to higher raw material costs of $181 million, higher SAG of $43 million when excluding Goodyear Forward savings, lower tire volume of $33 million, other cost increases of $30 million, primarily due to a benefit received in 2024 related to a reduction in U.S. duty rates on various commercial tires from China and higher transportation costs in 2025, increased conversion costs of $18 million driven by the effect of lower tire production on fixed cost absorption, and the impact of the sale of the OTR tire business of $12 million. These decreases were partially offset by benefits from the Goodyear Forward plan of $200 million and global improvements in price and product mix of $68 million. Refer to "Results of Operations — Segment Information" for additional information.

Liquidity

AtOn ~~March~~May 3119, 2025, we ~~had~~amended ~~$902 million of cash~~ and ~~cash~~restated ~~equivalents~~our asfirst ~~well~~lien asrevolving ~~$2,623 million of unused availability under our various~~ credit ~~agreements, compared to $810 million and $3,555 million, respectively, at December 31, 2024~~facility. The ~~increase~~principal inchange ~~cash and cash equivalents of $92 million was primarily due~~ to ~~cash provided by~~ the ~~sale~~facility ofwas the ~~OTR~~extension ~~tire business~~ of ~~$720~~its ~~million~~maturity and net borrowings of $198 million, partially offset by net cash used for operating activities of $538 million and capital expenditures of $259 million. Net cash used for operating activities reflects cash used for working capital of $750 million, rationalization payments of $65 million, and pension contributions and direct payments of $41 million, partially offset by proceeds from ~~the~~2026 ~~sale of our OTR tire business of $185 million for deferred income related~~ to the trademark license and product supply agreements, as well as the Company's net income for the period of $118 million, which includes non-cash charges for depreciation and amortization of $270 million and a non-cash gain on asset sales of $262 million2030. ~~Refer to "Liquidity and Capital Resources" for additional information.~~

On June 3, 2025, we issued $500 million in aggregate principal amount of 6.625% senior notes due 2030.

On June 30, 2025, we redeemed $400 million and, on July 3, 2025, we redeemed the remaining $500 million of our 5% senior notes due 2026 at redemption prices equal to 100% of the principal amount redeemed plus accrued and unpaid interest, using the net proceeds from the 6.625% senior notes due 2030, together with cash and cash equivalents.

At June 30, 2025, we had $785 million of cash and cash equivalents as well as $3,158 million of unused availability under our various credit agreements, compared to $810 million and $3,555 million, respectively, at December 31, 2024. The decrease in cash and cash equivalents of $25 million was primarily due to cash used for operating activities of $718 million, capital expenditures of $466 million and net debt repayments of $112 million, partially offset by cash provided by the sales of the OTR tire business and the Dunlop brand, as well as other asset dispositions, of $1,328 million. Net cash used for operating activities reflects cash used for working capital of $1,069 million, rationalization payments of $204 million, and pension contributions and direct payments of $53 million, partially offset by deferred income related to divestitures of $376 million, as well as the Company's net income for the period of $399 million, which includes non-cash gains on asset sales of $701 million and non-cash charges for depreciation and amortization of $544 million. Refer to "Liquidity and Capital Resources" for additional information.

Outlook

In the ~~second~~third quarter of 2025, we expect our global tire unit volume to decline approximately 25% compared to the ~~second~~third quarter of 2024 driven by ~~elevated~~global ~~wholesale~~OE ~~channel~~volume ~~inventories~~reductions ~~in the United States~~ and lower ~~volume~~consumer inreplacement ~~Asia Pacific~~volume. We also expect unabsorbed overhead to be approximately $2050 million higher in the ~~second~~third quarter of 2025 compared to the ~~second~~third quarter of 2024 due to lower production in the ~~first~~second quarter of 2025.

We expect to continue progress on our Goodyear Forward transformation plan in 2025, with ~~second~~third quarter of 2025 benefits from the program of approximately $~~190~~180 million and full year benefits of approximately $750 million in segment operating income. The expected impact of the sale of the OTR tire business on our segment operating income is approximately $2310 million in the ~~second~~third quarter of 2025.

We expect our raw material costs to increase approximately $~~180~~50 million in the ~~second~~third quarter of 2025 compared to the ~~second~~third quarter of 2024, driven by natural rubber ~~and foreign currency costs~~. These raw material cost increases are expected to be ~~partially~~ offset by approximately $~~135~~100 million of price and product mix improvements, driven by previously implemented pricing actions and customer contracts indexed to changes in raw materials. Natural and synthetic rubber prices and other commodity prices historically have been volatile, and our raw materials costs could change based on future cost fluctuations and changes in foreign exchange rates. We continue to focus on price and product mix, to substitute lower cost materials where possible, to identify additional substitution opportunities, to reduce the amount of material required in each tire, and to pursue alternative raw materials to minimize the impact of higher raw material costs.

We expect non-raw material inflation and other costs to be approximately $~~120~~180 million higher in the ~~second~~third quarter of 2025 compared ~~with~~to the ~~second~~third quarter of 2024. These costs include the impact of inflation, tariffs, increased transportation costs and other manufacturing costs including costs associated with announced rationalization plans. ~~At the current tariff rates, we expect non-raw material and other costs to be approximately $175 million in the third and fourth quarters of 2025 as compared to the same quarters of 2024.~~ We continue to focus on actions to offset costs other than raw materials through cost savings initiatives, including initiatives related to the Goodyear Forward plan, rationalization actions and improvements in price and product mix.

29For the full year of 2025, we expect working capital to be neither a source nor use of cash. We anticipate our capital expenditures to be approximately $900 million. We anticipate our cash flows will include rationalization payments of approximately $400 million, as we continue to implement elements of our Goodyear Forward plan to improve our cost structure.

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For the full year of 2025, we expect working capital to be a source of operating cash flows of approximately $50 million. We anticipate our capital expenditures to be approximately $950 million. We anticipate our cash flows will include rationalization payments of approximately $400 million, as we continue to implement elements of our Goodyear Forward plan to improve our cost structure.

Refer to "Item 1A. Risk Factors" in the 2024 Form 10-K for a discussion of the factors that may impact our business, results of operations, financial condition or liquidity and "Forward-Looking Information — Safe Harbor Statement" in this Quarterly Report on Form 10-Q for a discussion of our use of forward-looking statements.

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RESULTS OF OPERATIONS

CONSOLIDATED

Three Months Ended ~~March 31~~June 30, 2025 and 2024

Net sales in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 were $4,~~253~~465 million, decreasing $~~284~~105 million, or 62.3%, from $4,~~537~~570 million in the ~~first~~second ~~three~~quarter ~~months~~ of 2024. Goodyear net income was $~~115~~254 million, or $0.4087 per share, in the ~~first~~second ~~three~~quarter ~~months~~ of 2025, compared to Goodyear net ~~loss~~income of $5779 million, or $0.2028 per share, in the ~~first~~second ~~three~~quarter ~~months~~ of 2024.

Net sales decreased in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 primarily due to lower global tire volume of $~~156~~157 million, and the ~~impact~~impacts of ~~changes~~the insale ~~foreign~~of ~~exchange~~the ~~rates~~OTR ~~globally~~tire business of $~~140~~149 million, ~~driven~~excluding byproduct ~~the~~supply ~~strengthening~~agreement revenue of ~~the~~$82 ~~U.S. dollar~~million, and the ~~impact of the~~ sale of the ~~OTR~~Dunlop ~~tire~~brand ~~business~~ of $4916 million~~, including the product supply agreement~~. These decreases were partially offset by ~~favorable~~global improvements in price and product mix of $5393 million, ~~and~~ higher sales in other tire-related businesses of $1935 million, primarily due to ~~higher~~growth ~~third-party~~in ~~chemical~~Fleet Solutions in EMEA, higher retread sales in EMEA and Americas and higher global aviation sales, and benefits from the Goodyear Forward plan of $16 million.

Worldwide tire unit sales in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 were 3837.59 million units, decreasing 12.92 million units, or 45.83%, from 40.41 million units in the ~~first~~second ~~three~~quarter ~~months~~ of 2024. Replacement tire volume decreased globally by 1.8 million units, or 6.31%. OE tire volume decreased ~~globally~~ by 0.14 million units, or 13.15%, driven by Asia Pacific.

Cost of Goods Sold ("CGS") in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 was $3,~~513~~705 million, ~~decreasing~~increasing $~~202~~78 million, or 52.42%, from $3,~~715~~627 million in the ~~first~~second ~~three~~quarter ~~months~~ of 2024. CGS ~~decreased~~increased primarily due to ~~savings~~higher ~~related~~raw tomaterial ~~the~~costs ~~Goodyear~~of ~~Forward~~$174 ~~plan~~million, higher conversion costs of $~~152~~90 million, ~~lower~~higher costs in other tire-related ~~volume~~businesses of $~~123~~40 million, ~~foreign~~primarily ~~currency~~related ~~translation~~to ofFleet Solutions in EMEA, $~~109~~12 million of other costs, primarily related to transportation, and ~~lower~~an ~~global~~increase ~~mix~~in accelerated depreciation and asset write-offs of $347 million ($11 million after-tax and minority). These ~~decreases~~increases were partially offset by ~~higher~~savings ~~raw~~related ~~material~~to ~~costs~~the Goodyear Forward plan of $~~181~~147 million, ~~higher~~lower ~~conversion~~tire ~~costs~~volume of $18120 million, and ~~higher~~benefits ~~costs in other tire-~~related ~~businesses~~to ~~of $11 million~~divestitures, primarily ~~related~~the tosale ~~third-party~~of ~~chemical~~the ~~sales~~OTR intire ~~Americas~~business, of $47 million. CGS in the ~~first~~second ~~three~~quarter ~~months~~ of 2024 included a net benefit from insurance recoveries related to the Debica fire of $1443 million ($1130 million after-tax and minority), as a ~~result~~benefit of a$20 ~~fire~~million in($15 ~~the~~million ~~third~~after-tax ~~quarter~~and ofminority) ~~2023~~from ~~that~~insurance ~~significantly~~proceeds ~~damaged~~for ~~and~~property ~~caused~~damage aand ~~temporary~~business ~~shutdown~~interruptions ofresulting ~~our~~from ~~tire~~storm ~~manufacturing~~damage ~~facility~~events in ~~Debica,~~prior ~~Poland~~years ~~("Debica")~~ and a ~~favorable~~ $83 million ($63 million after-tax and minority) ~~tax~~charge ~~item~~related to a flood in ~~Brazil~~South Africa.

CGS in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 and 2024 included pension expense of $24 million ~~and~~for $3each ~~million, respectively~~period. CGS in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 included $95 million of incremental savings from rationalization plans. CGS was 8283.60% of sales in the ~~first~~second ~~three~~quarter ~~months~~ of 2025, compared to 8179.94% in the ~~first~~second ~~three~~quarter ~~months~~ of 2024.

SAG in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 was $~~650~~692 million, decreasing $4639 million, or 65.63%, from $~~696~~731 million in the ~~first~~second ~~three~~quarter ~~months~~ of 2024. SAG decreased primarily due to ~~lower~~savings ~~wages~~related ~~and~~to ~~benefits~~the Goodyear Forward plan of $1131 million, ~~lower~~benefits ~~warehouse~~related ~~and~~to ~~retail~~divestitures, ~~expenses~~primarily ofthe ~~$11~~sale ~~million,~~of ~~driven~~the byOTR ~~Goodyear~~tire ~~Forward~~business, ~~plan~~of ~~actions~~$17 million, and a $9decrease ~~million~~in ~~benefit~~accelerated aslease acosts ~~result~~and asset write-offs of ~~the~~$9 ~~sale~~million of($8 ~~the~~million ~~OTR~~after-tax ~~tire~~and ~~business,~~minority). These decreases were partially offset by ~~$11~~an ~~million~~increase ofin other costs of $54 million, primarily related to advertising costs, inflation and non-recurring insurance. SAG in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 also included costs related to the Goodyear Forward plan of $23 million ($2 million after-tax and minority), compared to $2840 million ($2130 million after-tax and minority) in the ~~first~~second ~~three~~quarter ~~months~~ of 2024, primarily related to third-party advisory, legal and consulting fees and costs associated with planned asset sales.

SAG in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 and 2024 included pension expense of $32 million ~~and~~for $4each ~~million, respectively~~period. SAG in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 included $310 million of incremental savings from rationalization plans~~, compared to $14 million in 2024~~. SAG was 15.35% of sales in ~~both~~ the ~~first~~second ~~three~~quarter ~~months~~ of 2025, ~~and~~compared to 16.0% in the second quarter of 2024.

We recorded net rationalization charges of $8159 million ($6455 million after-tax and minority) in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 and $2219 million ($1715 million after-tax and minority) in the ~~first~~second ~~three~~quarter ~~months~~ of 2024. Net rationalization charges in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 primarily related to the proposed plan to close our manufacturing facility in Kariega, the elimination of commercial tire production at Danville, the closures of our Fulda, Germany tire manufacturing facility (“Fulda”) and our Fürstenwalde, Germany tire manufacturing ~~facilities~~facility (“Fürstenwalde”), and the plan to reduce SAG headcount in Americas and Corporate. Net rationalization charges in the ~~first~~second ~~three~~quarter ~~months~~ of 2024 primarily related to the ~~closures~~plan ofto ~~our~~open ~~Malaysia~~a ~~tire~~new ~~manufacturing~~shared ~~facility~~services center in Costa Rica, and the closures of Fulda, Fürstenwalde and Cooper Tire's Melksham, United Kingdom tire manufacturing facility ("Melksham"), partially offset by reversals related our rationalization and workforce reorganization plan in EMEA due to voluntary attrition. For further information, refer to Note to the Consolidated Financial Statements No. 4, Costs Associated with Rationalization Programs.

CGS and SAG in the ~~first~~second ~~three~~quarter ~~months~~ of 2025 included $4641 million ($3937 million after-tax and minority) of asset write-offs, accelerated depreciation and accelerated lease charges, primarily related to the closures of ~~our~~ Fulda and Fürstenwalde and the elimination of commercial tire production at Danville. CGS and SAG in the second quarter of 2024 included $43 million ($34 million after-tax and minority) of asset write-offs, ~~Germany~~accelerated depreciation and accelerated lease charges, primarily related to plant closures in Asia Pacific and EMEA and the exit of our retail operations in Australia and New Zealand.

3039

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~~tire~~Interest ~~manufacturing~~expense ~~facilities~~in ~~and~~ the ~~elimination~~second quarter of ~~commercial~~2025 ~~tire~~was ~~production~~$112 atmillion, ~~Danville~~decreasing $18 million, or 13.8%, ~~CGS~~from ~~and~~$130 ~~SAG~~million in the ~~first~~second ~~three~~quarter ~~months~~ of 2024. ~~included~~The ~~$51~~average ~~million~~interest ~~($42~~rate ~~million~~was ~~after-tax~~5.65% ~~and~~in ~~minority)~~the second quarter of ~~asset~~2025 ~~write~~compared ~~offs,~~to ~~accelerated~~6.21% ~~depreciation~~in ~~and~~the ~~accelerated~~second ~~lease~~quarter ~~charges~~of ~~related~~2024. toThe ~~the~~average ~~closure~~debt ofbalance awas ~~development~~$7,936 ~~center~~million in the ~~U.S.~~second ~~and~~quarter ~~announced~~of ~~plant~~2025 ~~and~~compared ~~facility~~to ~~closures~~$8,371 million in ~~Americas~~the ~~and~~second ~~EMEA~~quarter of 2024.

~~Interest~~The ~~expense~~second inquarter ~~the~~of ~~first~~2025 ~~three~~includes ~~months~~net ofgains ~~2025~~on ~~was~~asset sales of $~~115~~439 million, ~~decreasing~~ ($11393 million, orafter-tax ~~8.7%~~and minority), ~~from~~primarily ~~$126~~due ~~million~~to inan ~~the~~estimated ~~first~~gain ~~three months~~ of ~~2024.~~$385 ~~The~~million ~~average~~($367 ~~interest~~million ~~rate~~after-tax ~~was~~and ~~5.82%~~minority) inon the ~~first~~sale ~~three~~of ~~months~~Dunlop ofbrand ~~2025~~and ~~compared~~other toasset ~~6.34%~~sales inof ~~the~~$54 ~~first~~million ~~three~~($26 ~~months~~million ofafter-tax ~~2024.~~and ~~The~~minority), ~~average~~compared ~~debt~~to ~~balance~~net ~~was~~gains of $~~7,910~~96 million ($68 million after-tax and minority) in the ~~first~~second ~~three~~quarter ~~months~~ of ~~2025~~2024, ~~compared~~primarily due to ~~$7,945~~the ~~million~~sale inof ~~the~~distribution ~~first~~centers ~~three~~in ~~months~~EMEA ofand ~~2024~~Americas.

~~The~~Other ~~first~~(Income) ~~three~~Expense ~~months~~in the second quarter of 2025 ~~include~~was a$31 ~~net~~million ~~gain~~of onexpense, ~~asset~~compared ~~sales~~to of $~~262~~26 million ~~($237~~of ~~million~~expense ~~after-tax~~in ~~and~~the ~~minority~~second quarter of 2024. The change in Other (Income), Expense was primarily due to an ~~estimated~~increase ~~gain~~in net foreign currency exchange losses of $~~260~~12 million onand ~~the~~a ~~sale~~decrease ofin ~~the~~interest ~~OTR~~income ~~tire~~of ~~business~~$4 million, ~~compared~~partially tooffset by an increase in royalty and other income of $9 million and a ~~net~~decrease ~~loss~~in onnon-service ~~asset~~related ~~sales~~pension and other postretirement benefits cost of $4 million. The second quarter of 2025 includes transaction costs of $2 million in($1 ~~the~~million ~~first~~after-tax ~~three~~and ~~months~~minority), primarily related to the anticipated sale of ~~2024~~the Chemical Business.

~~Other~~In ~~Expense in~~ the ~~first~~second ~~three~~quarter ~~months~~ of 2025, ~~was~~we ~~$25~~recorded ~~million~~income ~~compared~~tax toexpense ~~$28 million in the first three months~~ of ~~2024. The decrease in Other Expense was primarily due to a pension settlement charge of~~ $424 million ~~($3~~on ~~million~~income ~~after-tax~~before ~~and~~income ~~minority)~~taxes ~~in the first three months~~ of ~~2025 compared to a pension settlement credit of~~ $5305 million. ~~($4~~Income ~~million after-~~tax ~~and~~expense ~~minority)~~for in the ~~first~~ three months ofended ~~2024~~June 30, ~~and net foreign currency exchange gains of $4 million in the first three months of~~ 2025 ~~compared~~includes toa net ~~foreign~~discrete ~~currency~~tax ~~exchange~~benefit ~~losses~~ of $14 million ~~in the first three months of 2024. The first three months of 2025 include transaction and other costs of $5 million~~ ($34 million after~~-tax~~ ~~and~~ minority interest). ~~related~~In to the ~~sale~~second ofquarter ~~the Dunlop brand. The first three months~~ of 2024, ~~included~~we anrecorded $8income ~~million ($5 million after-~~tax ~~and~~expense ~~minority) loss related to the sale~~ of ~~receivables in Argentina and a favorable~~ $260 million ~~($1~~on ~~million~~income ~~after-tax~~before ~~and~~income ~~minority)~~taxes ~~tax~~of ~~item~~$133 ~~in Brazil~~million.

~~For~~We record taxes based on overall estimated annual effective tax rates. The difference between our effective tax rate and the ~~first~~U.S. statutory rate of 21% for the three months ofended ~~2025~~June 30, we2025 ~~recorded~~is ~~income~~favorably ~~tax~~impacted ~~expense~~by gains recognized as a result of ~~$13~~the ~~million~~sale onof ~~income~~the ~~before~~Dunlop ~~income~~brand, which included certain associated intellectual property and other intangible assets, in jurisdictions where no taxes are recorded, net of ~~$131~~losses ~~million~~in foreign jurisdictions in which no tax benefits are recorded, and the discrete items noted above. The difference between our effective tax rate and the U.S. statutory rate of 21% for the three months ended June 30, 2024 primarily relates to losses in foreign jurisdictions in which no tax benefits are recorded.

InFor ~~the~~further ~~first~~information ~~three~~regarding ~~months of 2024, we recorded~~ income ~~tax~~taxes ~~expense~~and ofthe $6realizability ~~million on a loss before income taxes~~ of ~~$52~~our ~~million.~~deferred ~~Income~~ tax ~~expense~~assets, ~~for~~including ~~the~~our ~~three~~foreign ~~months~~tax ~~ended March 31~~credits, ~~2024~~refer ~~was~~to ~~favorably~~Note ~~impacted~~to bythe aConsolidated ~~net~~Financial ~~discrete~~Statements ~~tax~~No. ~~benefit~~6, ofIncome ~~$1 million ($1 million after minority interest)~~Taxes.

WeThere ~~record~~was ~~taxes~~$27 ~~based~~million onof ~~overall~~minority ~~estimated~~shareholders’ ~~annual~~net ~~effective~~income ~~tax~~in ~~rates. The difference between our effective tax rate and~~ the ~~U.S.~~second ~~statutory~~quarter ~~rate~~ of ~~21% for the three months ended March 31~~2025, ~~2025~~primarily isrelated ~~favorably~~to ~~impacted by gains recognized as a result of~~ the sale of ~~our~~property ~~OTR tire business~~ in ~~foreign~~Asia ~~jurisdictions where no taxes are recorded~~Pacific, ~~net~~compared ofto ~~losses~~a in$6 ~~foreign~~million ~~jurisdictions~~loss in ~~which no tax benefits are recorded. The difference between our effective tax rate and~~ the ~~U.S.~~second ~~statutory~~quarter ~~rate~~ of ~~21% for the three months ended March 31,~~ 2024 ~~primarily relates to losses in foreign jurisdictions in which no tax benefits are recorded and the discrete items noted above~~.

~~The~~Six ~~Organisation~~Months ~~for~~Ended Economic Co-operation and Development ("OECD") has published the Pillar Two model rules which adopt a global corporate minimum tax of 15% for multinational enterprises with average revenue in excess of €750 million. Certain jurisdictions in which we operate enacted legislation consistent with one or more of the OECD Pillar Two model rules effective in 2024. The model rules include minimum domestic top-up taxesJune 30, income inclusion rules and undertaxed profit rules, all aimed to ensure that multinational corporations pay a minimum effective corporate tax rate of 15% in each jurisdiction in which they operate. We do not expect the Pillar Two model rules to materially impact our annual effective tax rate in 2025. ~~However, we are continuing to evaluate the Pillar Two model rules~~ and ~~related legislation and their potential impact on future periods.~~2024

AtNet ~~March~~sales ~~31,~~in ~~2025~~the ~~and~~first ~~December~~six ~~31,~~months ~~2024,~~of we2025 ~~had~~were ~~approximately~~ $~~1.3 billion of U.S. federal~~8,718 ~~state and local net deferred tax assets~~million, ~~inclusive~~decreasing ~~of valuation allowances totaling~~ $36389 million ~~and $26 million~~, ~~respectively,~~or ~~primarily for state tax loss carryforwards with limited lives~~4.3%, Asfrom ~~of March 31~~$9,107 ~~2025~~million ~~and~~in ~~December~~the ~~31,~~first ~~2024,~~six ~~approximately~~months ~~$1.1 billion~~ of ~~these U~~2024.S. Goodyear net ~~deferred~~income ~~tax~~was ~~assets had unlimited lives and approximately~~ $~~200~~369 million ~~had limited lives~~, ~~including~~or $~~24 million of foreign tax credits, and the majority do not start to expire until 2030~~1.27 Inper ~~the U.S.~~share, wein ~~have a cumulative loss for~~ the ~~three-year~~first ~~period~~six ~~ended~~months ~~March~~of 312025, ~~2025~~compared ~~primarily~~to ~~driven~~Goodyear bynet ~~non-recurring~~income ~~items~~of ~~such~~$10 ~~as rationalization charges~~million, ~~pension~~or ~~curtailments~~$0.04 ~~and~~per ~~settlements~~share, ~~one-time~~in ~~costs associated with~~ the ~~Goodyear~~first ~~Forward~~six ~~plan,~~months ~~and~~of ~~intangible asset impairments~~2024.

InNet ~~assessing~~sales ~~our~~decreased ~~ability~~in tothe ~~utilize~~first ~~our~~six ~~net~~months ~~deferred~~of ~~tax~~2025 ~~assets, we~~ primarily ~~considered~~due ~~objectively~~to ~~verifiable~~lower ~~information,~~tire ~~including~~volume ~~the improvement~~ of ~~our~~$313 ~~U.S.~~million, ~~income before income taxes during~~ the ~~first~~impact ~~quarter~~ of ~~2025~~the assale ~~a result~~ of ~~benefits from~~ the ~~Goodyear~~OTR ~~Forward~~tire ~~plan~~business ~~compared to the first quarter~~ of ~~2024~~$255 million, asexcluding ~~well~~product assupply ~~non-deductible~~agreement ~~interest~~revenue ~~and~~of ~~future~~$137 ~~royalty income from foreign subsidiaries. In addition~~million, wethe ~~considered~~negative ~~our~~impact ~~current forecasts~~ of ~~future~~changes ~~profitability~~ in ~~assessing~~foreign ~~our~~exchange ~~ability~~rates toglobally ~~realize~~of ~~our~~$149 ~~deferred~~million, ~~tax~~and ~~assets as well as~~ the impact of ~~tax planning strategies. These forecasts include~~ the ~~impact~~sale of ~~recent~~the ~~trends~~Dunlop ~~and~~brand ~~various~~of ~~macroeconomic~~$38 ~~factors~~million. ~~such~~These asdecreases ~~the~~were ~~impact~~partially ofoffset ~~raw~~by ~~material,~~favorable ~~transportation,~~price ~~tariff, labor~~ and ~~energy~~product ~~costs~~mix onof ~~our~~$146 ~~profitability.~~million, ~~Our~~higher ~~tax~~sales ~~planning~~in ~~strategies~~other ~~include~~tire-related ~~accelerating~~businesses ~~income~~of on$54 ~~cross~~million, ~~border~~primarily ~~transactions,~~due ~~including~~to ~~sales~~growth ofin ~~inventory~~Fleet orSolutions ~~raw~~in ~~materials~~EMEA toand ~~our~~higher ~~subsidiaries,~~retread ~~reducing~~sales ~~U.S.~~in ~~interest~~EMEA ~~expense~~and byAmericas, ~~for~~and ~~example,~~benefits ~~reducing~~from ~~intercompany~~the ~~loans~~Goodyear ~~through~~Forward ~~repatriating~~plan ~~current~~of ~~year~~$29 million.

31Worldwide tire unit sales in the first six months of 2025 were 76.4 million units, decreasing 4.1 million units, or 5.0%, from 80.5 million units in the first six months of 2024. Replacement tire volume decreased globally by 3.6 million units, or 6.2%. OE tire volume decreased by 0.5 million units, or 2.3%, driven by Asia Pacific.

CGS in the first six months of 2025 was $7,218 million, decreasing $131 million, or 1.8%, from $7,349 million in the first six months of 2024. CGS decreased primarily due to savings related to the Goodyear Forward plan of $299 million, lower tire volume of $243 million, foreign currency translation of $114 million, benefits related to divestitures, primarily the sale of the OTR tire business, of $98 million, and lower global product mix of $13 million. These decreases were partially offset by higher raw material costs of $351 million, higher conversion costs of $105 million, other cost of $63 million, primarily due to higher transportation costs in 2025 and a benefit received in 2024 related to a reduction in U.S. duty rates on various commercial tires from China, higher costs in other tire-related businesses of $51 million, primarily related Fleet Solutions and retread in EMEA, and an increase in accelerated depreciation and asset write-offs of $7 million, primarily related to the closures of Fulda and Fürstenwalde and the elimination of commercial tire production at Danville. CGS in the first six months of 2024 included a net benefit from insurance recoveries related to the Debica fire of $29 million ($19 million after-tax and minority), a benefit of $20 million ($15 million after-tax and minority) from insurance proceeds for property damages and business interruptions resulting from storm damage events in prior years, a favorable $8 million ($6 million after-tax and minority) tax item in Brazil and a $3 million ($3 million after-tax and minority) charge related to a flood in South Africa.

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~~earnings~~CGS in the first six months of ~~foreign~~2025 ~~subsidiaries,~~and ~~repatriation~~2024 included pension expense of ~~certain~~$6 ~~foreign~~million ~~royalty~~and ~~income~~$7 million, ~~and~~respectively. ~~other~~CGS ~~financing~~in ~~transactions,~~the ~~all~~first six months of ~~which~~2025 ~~would~~included ~~increase~~$8 ~~our~~million ~~domestic~~of ~~profitability~~incremental savings from rationalization plans. CGS was 82.8% of sales in the first six months of 2025, compared to 80.7% in the first six months of 2024.

WeSAG ~~believe our improvement~~ in ~~U.S. income before income taxes for~~ the ~~three~~first six months ~~ended~~of ~~March 31,~~ 2025 ~~compared~~was to$1,342 ~~the~~million, ~~three~~decreasing ~~months~~$85 ~~ended~~million, ~~March~~or 316.0%, ~~2024~~from $1,427 asmillion ~~well~~in asthe ~~forecasts~~first six months of ~~future~~2024. ~~profitability,~~SAG ~~provide~~decreased usprimarily ~~sufficient~~due ~~positive~~to ~~evidence~~savings related to ~~conclude~~the ~~that~~Goodyear itForward isplan ~~more~~of ~~likely~~$67 ~~than~~million ~~not~~and ~~that,~~benefits atrelated ~~March~~to 31divestitures, ~~2025,~~primarily ~~our~~the ~~U.S.~~sale ~~net~~of ~~deferred~~the ~~tax~~OTR ~~assets~~tire ~~will~~business, beof ~~fully~~$30 ~~utilized~~million. ~~However,~~These ~~macroeconomic~~decreases ~~factors~~were ~~such~~partially asoffset ~~raw~~by ~~material,~~an ~~transportation,~~increase ~~tariff,~~in ~~labor~~other ~~and energy~~ costs ~~possess~~of a$81 ~~high~~million, ~~degree~~primarily ofrelated ~~volatility~~to inflation and ~~can~~non-recurring ~~significantly impact our profitability~~insurance. InSAG ~~addition,~~in ~~certain~~the ~~tax~~first ~~provisions,~~six ~~such~~months asof ~~the~~2025 ~~annual~~also ~~interest~~included ~~expense~~costs ~~limitation~~related ~~under~~to ~~Section 163(j) of~~ the ~~Internal~~Goodyear ~~Revenue~~Forward ~~Code~~plan of ~~1986,~~$5 ifmillion ~~amended,~~($4 ~~could~~million ~~impact~~after-tax ~~our~~and ~~analysis~~minority) ofcompared ~~the~~to ~~realizability~~$67 ofmillion ~~our~~($51 ~~U.S.~~million ~~deferred~~ after-tax ~~assets.~~and Ifminority) ~~our~~in ~~U.S.~~the ~~operating~~first ~~results~~six ~~significantly~~months ~~decline~~of ~~in the future~~2024, weprimarily ~~may~~related ~~need~~ to ~~record~~third-party ~~a valuation allowance which could adversely impact our operating results. As such~~advisory, welegal ~~will~~and ~~closely~~consulting ~~monitor~~fees ~~our~~and ~~U.S.~~costs ~~operations~~associated aswith ~~well~~planned asasset ~~any tax law changes to assess the realizability of our U~~sales.~~S. deferred tax assets.~~

AtSAG ~~March~~in ~~31,~~the ~~2025~~first ~~and~~six ~~December~~months ~~31,~~of 2025 and 2024, weincluded ~~also~~pension ~~had~~expense ~~approximately~~of $1.5 ~~billion~~million ~~of foreign net deferred tax assets~~ and ~~related~~$6 ~~valuation~~million, ~~allowances of approximately $1~~respectively.2 ~~billion.~~SAG ~~Our losses~~ in ~~various~~the ~~foreign~~first ~~taxing~~six ~~jurisdictions~~months inof ~~recent~~2025 ~~periods~~included ~~represented~~$19 ~~sufficient~~million ~~negative evidence to require us to maintain a full valuation allowance against certain~~ of ~~these~~incremental ~~net~~savings ~~foreign~~from ~~deferred~~rationalization ~~tax assets~~plans. ~~Most~~SAG ~~notably,~~was ~~in Luxembourg, we maintain a valuation allowance of approximately $1~~15.04% ~~billion on all~~ of ~~our~~sales ~~net~~in ~~deferred~~the ~~tax~~first ~~assets.~~six ~~Each~~months ~~reporting~~of ~~period~~2025, wecompared ~~assess available positive and negative evidence and estimate if sufficient future taxable income will be generated~~ to ~~utilize these existing deferred tax assets~~15.7% Wein dothe ~~not~~first ~~believe~~six ~~that~~months ~~sufficient positive evidence required to release valuation allowances on our foreign deferred tax assets having a significant impact on our financial position or results~~ of ~~operations will exist within the next twelve months~~2024.

We recorded net rationalization charges of $140 million ($119 million after-tax and minority) in the first six months of 2025 and $41 million ($31 million after-tax and minority) in the first six months of 2024. Net rationalization charges in the first six months of 2025 primarily related to the proposed plan to close our manufacturing facility in Kariega, South Africa in EMEA, the elimination of commercial tire production at Danville, the closures of Fulda and Fürstenwalde, and the plan to reduce SAG headcount in Americas and Corporate. Net rationalization charges in the first six months of 2024 primarily related to the closure of our tire manufacturing facility in Malaysia, the plan to open a new shared services center in Costa Rica, and the closures of Fulda, Fürstenwalde and Melksham, partially offset by reversals related to our rationalization and workforce reorganization plan in EMEA due to voluntary attrition. For further information, refer to Note to the Consolidated Financial Statements No. 4, Costs Associated with Rationalization Programs.

CGS and SAG in the first six months of 2025 included $87 million ($77 million after-tax and minority) of asset write-offs, accelerated depreciation and accelerated lease charges, primarily related to the closures of Fulda and Fürstenwalde and the elimination of commercial tire production at Danville. CGS and SAG in the first six months of 2024 included $94 million ($76 million after-tax and minority) of asset write offs, accelerated depreciation and accelerated lease charges, primarily related to plant closures in Asia Pacific and EMEA, closure of a development center in the U.S. and the exit of our retail operations in Australia and New Zealand.

Interest expense in the first six months of 2025 was $227 million, decreasing $29 million, or 11.3%, from $256 million in the first six months of 2024. The average interest rate was 5.73% in the first six months of 2025 compared to 6.28% in the first six months of 2024. The average debt balance was $7,923 million in the first six months of 2025 compared to $8,158 million in the first six months of 2024.

The first six months of 2025 include net gains on asset sales of $701 million ($630 million after-tax and minority), primarily due to an estimated gain of $385 million ($367 million after-tax and minority) on the sale of the Dunlop brand, an estimated gain of $260 million on the sale of the OTR tire business ($236 million after-tax and minority), and other asset sales of $56 million ($27 million after-tax and minority), compared to net gains of $94 million ($66 million after-tax and minority) in the first six months of 2024, primarily due to the sale of distribution centers in EMEA and Americas.

Other (Income) Expense in the first six months of 2025 was $56 million of expense, compared to $59 million of expense in the first six months of 2024. The change in Other (Income) Expense was primarily due to a pension settlement charge of $4 million ($3 million after-tax and minority) in the first six months of 2025 compared to a pension settlement credit of $5 million ($4 million after-tax and minority) in the first six months of 2024, a decrease in interest income of $9 million, and an increase in net foreign currency exchange losses of $2 million, partially offset by an increase in royalty and other income of $15 million. The first six months of 2025 include transaction costs of $6 million ($4 million after-tax and minority), primarily related to the anticipated sale of the Chemical Business. The first six months of 2024 included an $8 million ($6 million after-tax and minority) loss related to the sale of receivables in Argentina and a favorable $2 million ($1 million after-tax and minority) tax item in Brazil.

For the first six months of 2025, we recorded income tax expense of $37 million on income before income taxes of $436 million. Income tax expense for the six months ended June 30, 2025 includes a net discrete tax benefit of $5 million ($5 million after minority interest).

In the first six months of 2024, we recorded income tax expense of $66 million on income before income taxes of $69 million. Income tax expense for the six months ended June 30, 2024 includes a net discrete tax benefit of $1 million ($1 million after minority interest).

We record taxes based on overall estimated annual effective tax rates. The difference between our effective tax rate and the U.S. statutory rate of 21% for the six months ended June 30, 2025 is favorably impacted by gains recognized as a result of the sales of the OTR tire business and the Dunlop brand, which included certain associated intellectual property and other

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intangible assets, in foreign jurisdictions where no taxes are recorded, net of losses in foreign jurisdictions in which no tax benefits are recorded, and the discrete items noted above. The difference between our effective tax rate and the U.S. statutory rate of 21% for the six months ended June 30, 2024 primarily relates to losses in foreign jurisdictions in which no tax benefits are recorded and the discrete items noted above.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework, and the restoration of tax treatment for certain business provisions. We do not expect a material impact from OBBBA on our 2025 operating tax rates. We will continue to assess the impact on us as regulations develop in the future.

The Organisation for Economic Co-operation and Development ("OECD") has published the Pillar Two model rules which adopt a global corporate minimum tax of 15% for multinational enterprises with average revenue in excess of €750 million. Certain jurisdictions in which we operate enacted legislation consistent with one or more of the OECD Pillar Two model rules effective in 2024. The model rules include minimum domestic top-up taxes, income inclusion rules, and undertaxed profit rules all aimed to ensure that multinational corporations pay a minimum effective corporate tax rate of 15% in each jurisdiction in which they operate. We do not expect the Pillar Two model rules to materially impact our annual effective tax rate in 2025. However, we are continuing to evaluate the Pillar Two model rules and related legislation and their potential impact on future periods.

At June 30, 2025 and December 31, 2024, we had approximately $1.4 billion and $1.3 billion, respectively, of U.S. federal, state and local net deferred tax assets, inclusive of valuation allowances totaling $36 million and $26 million, respectively, primarily for state tax loss carryforwards with limited lives. As of June 30, 2025, approximately $1.2 billion of these U.S. net deferred tax assets had unlimited lives and approximately $200 million had limited lives, and the majority do not start to expire until 2030. As of December 31, 2024, approximately $1.1 billion of these U.S. net deferred tax assets had unlimited lives and approximately $200 million had limited lives, including $24 million of foreign tax credits, and the majority do not start to expire until 2030. In the U.S., we have a cumulative loss for the three-year period ended June 30, 2025 primarily driven by non-recurring items such as rationalization charges, pension curtailments and settlements, one-time costs associated with the Goodyear Forward plan, and intangible asset impairments.

In assessing our ability to utilize our net deferred tax assets, we primarily considered objectively verifiable information, including the reduction in interest expense from debt repayment as a result of the sales of the OTR tire business and the Dunlop brand, which included certain associated intellectual property and other intangible assets, and future royalty income from foreign subsidiaries. In addition, we considered our current forecasts of future profitability in assessing our ability to realize our deferred tax assets as well as the impact of tax planning strategies. These forecasts include the impact of recent trends and various macroeconomic factors such as the impact of raw material, transportation, tariff, labor and energy costs on our profitability. Our tax planning strategies include accelerating income on cross border transactions, including sales of inventory or raw materials to our subsidiaries, reducing U.S. interest expense by, for example, repaying U.S. third-party debt and reducing intercompany loans through repatriating current year earnings of foreign subsidiaries, repatriation of certain foreign royalty income, and other financing transactions, all of which would increase our domestic profitability.

We believe our forecasts of future profitability, including a reduction in interest expense from debt repayment as a result of the sales of the OTR tire business and the Dunlop brand, which included certain associated intellectual property and other intangible assets, provide us sufficient positive evidence to conclude that it is more likely than not that, at June 30, 2025, our U.S. net deferred tax assets will be fully utilized. However, macroeconomic factors such as raw material, transportation, tariff, labor and energy costs possess a high degree of volatility and can significantly impact our profitability. Our U.S. operating results for the quarter ended June 30, 2025 declined relative to prior periods. If our U.S. operating results continue to decline in the future, we may need to record a valuation allowance which could adversely impact our operating results. As such, we will closely monitor our U.S. operations and any tax law changes to assess the realizability of our U.S. deferred tax assets.

For further information regarding income taxes and the realizability of our deferred tax assets, including our foreign tax credits, refer to Note to the Consolidated Financial Statements No. 6, Income Taxes.

Minority shareholders’ net income in the first ~~three~~six months of 2025 was $330 million, primarily related to the sale of property in Asia Pacific, compared to a net loss of $17 million in the first ~~three~~six months of 2024.

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SEGMENT INFORMATION

Segment information reflects our strategic business units (“SBUs”), which are organized to meet customer requirements and global competition and are segmented on a regional basis.

Results of operations are measured based on net sales to unaffiliated customers and segment operating income. Each segment exports tires to other segments. The financial results of each segment exclude sales of tires exported to other segments, but include operating income derived from such transactions. Segment operating income is computed as follows: Net Sales less CGS (excluding asset write-off and accelerated depreciation charges) and SAG (including certain allocated corporate administrative expenses). Segment operating income also includes certain royalties and equity in earnings of most affiliates. Segment operating income does not include net rationalization charges, asset sales, goodwill and other impairment charges, and certain other items.

Total segment operating income for the second quarter of 2025 was $159 million, a decrease of $175 million, or 52.4%, from $334 million in the second quarter of 2024. Total segment operating margin in the second quarter of 2025 was 3.6%, compared to 7.3% in the second quarter of 2024. Total segment operating income for the first ~~three~~six months of 2025 was $~~195~~354 million, a decrease of $52220 million, or 2138.13%, from $~~247~~574 million in the first ~~three~~six months of 2024. Total segment operating margin in the first ~~three~~six months of 2025 was 4.61%, compared to 56.43% in the first ~~three~~six months of 2024.

Management believes that total segment operating income is useful because it represents the aggregate value of income created by our SBUs and excludes items not directly related to the SBUs for performance evaluation purposes. Total segment operating income is the sum of the individual SBUs’ segment operating income. Refer to Note to the Consolidated Financial Statements No. 8, Business Segments, for further information and for a reconciliation of total segment operating income to Income (Loss) before Income Taxes.

Americas

	Three Months Ended March 31,
		Three Months Ended June 30,															Six Months Ended June 30,
(In millions)	~~2025~~	2025			~~2024~~			2024	~~Change~~			~~PercentChange~~	Change		PercentChange		2025			2024		Change		PercentChange
Tire Units		1819.41				~~19.0~~		19.6		~~(0.6~~	)		(30.15)	)%	(2.6)	%	37.5			38.6		(1.1)		(2.9)	%
Net Sales	$	~~2,502~~$	2,662		$	~~2,588~~		$	$2,697	~~(86~~	)		~~(3.3~~$	(35)%	(1.3)	%	$	5,164		$	5,285	$	(121)	(2.3)	%
Operating Income		~~155~~141				~~179~~		241		~~(24~~	)		(~~13.4~~100)	)%	(41.5)	%	296			420		(124)		(29.5)	%
Operating Margin		65.23	%	%		~~6.9~~	%	8.9		%							5.7		%	7.9%

Three Months Ended ~~March 31~~June 30, 2025 and 2024

Americas unit sales in the ~~first~~second quarter of 2025 decreased 0.65 million units, or 32.16%, to 1819.41 million units. Replacement tire volume decreased 0.53 million units, or 32.10%, primarily ~~due to a decrease~~ in our consumer business. OE tire volume decreased 0.2 million units, ~~driven~~or by5.0%, ~~increased~~primarily due to weakness in the OE industry in North America.

32Net sales in the second quarter of 2025 were $2,662 million, decreasing $35 million, or 1.3%, from $2,697 million in the second quarter of 2024. The decrease in net sales was primarily due to lower tire volume of $55 million, the impact of the sale of the OTR tire business of $45 million, excluding product supply agreement revenue of $42 million, and the negative impact of changes in foreign exchange rates of $34 million, primarily related to the weakening of the Brazilian real and Mexican peso. These decreases were partially offset by favorable price and product mix of $33 million, a $16 million benefit related to the Goodyear Forward plan, and increased sales in other tire-related businesses of $8 million, primarily due to increased retail sales.

Operating income in the second quarter of 2025 was $141 million, decreasing $100 million, or 41.5%, from $241 million in the second quarter of 2024. The decrease in operating income was due to higher raw material costs of $108 million, higher conversion costs of $82 million, driven by the effect of lower tire production on fixed cost absorption and inflation, higher SAG of $45 million, higher transportation and imported tire costs of $21 million, a $20 million benefit received in 2024 related to insurance proceeds for property damage and business interruptions resulting from storm damage events in prior years and lower tire volume of $13 million. These decreases were partially offset by a $149 million benefit related to the Goodyear Forward plan and favorable price and product mix of $43 million. Operating income for the second quarter of 2025 includes incremental savings from rationalization plans of $7 million.

Operating income in the second quarter of 2025 excluded asset write-offs, accelerated depreciation and accelerated lease costs of $14 million and net rationalization charges of $10 million. Operating income in the second quarter of 2024 excluded net gains on asset sales of $14 million, net rationalization charges of $11 million, and asset write-offs, accelerated depreciation and accelerated lease costs of $2 million.

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~~competitiveness~~Six inMonths ~~the~~Ended ~~U.S.~~June 30, ~~from~~2025 ~~the lower tier market~~ and ~~the transitory impact of distribution changes in Latin America. OE tire volume decreased 0.1 million units, or 3.2%, primarily in the U.S.~~2024

~~Net~~Americas unit sales in the first ~~quarter~~six months of 2025 ~~were~~decreased ~~$2,502~~1.1 million, ~~decreasing $86 million~~units, or 32.39%, ~~from~~to ~~$2,588~~37.5 million inunits. ~~the~~Replacement ~~first~~tire ~~quarter~~volume ofdecreased ~~2024~~0.8 ~~The~~million ~~decrease~~units, inor ~~net~~2.5%, ~~sales was~~ primarily due to ~~lower~~a ~~tire~~decrease ~~volume~~in ofour ~~$65~~consumer ~~million~~business, ~~and~~driven ~~the~~by ~~negative~~increased ~~impact~~competitiveness ~~of changes~~ in ~~foreign exchange rates of $60 million, primarily related to~~ the ~~weakening~~U.S. offrom the ~~Brazilian~~lower ~~real~~tier ~~and Mexican peso~~market. ~~These~~OE ~~decreases~~tire ~~were~~volume ~~partially~~decreased ~~offset~~0.3 bymillion ~~increased~~units, ~~sales~~or ~~in other tire-related businesses of $30 million~~4.2%, primarily due to ~~increased~~weakness ~~chemical~~in ~~sales,~~the ~~and~~OE aindustry ~~$13~~in ~~million~~North ~~benefit related to the Goodyear Forward plan~~America.

~~Operating~~Net ~~income~~sales in the first ~~quarter~~six months of 2025 ~~was~~were $~~155~~5,164 million, decreasing $24121 million, or 132.43%, from $~~179~~5,285 million in the first ~~quarter~~six months of 2024. The decrease in ~~operating~~net ~~income~~sales was primarily due to ~~higher~~lower ~~raw~~tire ~~material~~volume ~~costs~~ of $~~106~~120 million, ~~higher~~the ~~SAG~~negative impact of ~~$19~~changes ~~million,~~in ~~lower~~foreign ~~tire~~exchange ~~volume~~rates of $1594 million, aprimarily ~~$14~~related ~~million~~to ~~benefit~~the ~~received~~weakening inof ~~2024~~the ~~related~~Brazilian toreal aand ~~reduction~~Mexican inpeso, ~~U.S.~~and ~~duty~~the ~~rates~~impact onof ~~various~~the ~~commercial~~sale ~~tires~~of ~~from~~the ~~China,~~OTR ~~higher~~tire ~~conversion~~business ~~costs~~ of $877 million, ~~driven~~excluding byproduct ~~the~~supply ~~effect~~agreement revenue of ~~lower~~$74 ~~tire~~million. ~~production~~These ondecreases ~~fixed~~were ~~cost~~partially ~~absorption~~offset ~~and~~by ~~inflation,~~increased ~~and~~sales ~~unfavorable~~in ~~foreign~~other ~~currency~~tire-related ~~translation~~businesses of $738 million, primarily ~~related~~due to ~~the~~increased ~~weakening~~third-party ofchemical ~~the Brazilian real~~ and ~~Mexican~~retail ~~peso.~~sales, ~~These decreases were partially offset by~~ a $~~138~~29 million benefit related to the Goodyear Forward plan, and favorable price and product mix of $829 million. ~~Operating income for 2025 includes incremental savings from rationalization plans of $8 million.~~

Operating income in the first ~~quarter~~six months of 2025 ~~excluded~~was ~~net~~$296 ~~rationalization~~million, ~~charges~~decreasing $124 million, or 29.5%, from $420 million in the first six months of 2024. The decrease in operating income was due to higher raw material costs of $62214 million, ~~asset~~higher ~~write-offs~~conversion costs of $90 million, ~~accelerated~~driven ~~depreciation~~by the effect of lower tire production on fixed cost absorption and ~~accelerated~~inflation, ~~lease~~higher SAG of $64 million, higher transportation and imported tire costs of $37 million, lower tire volume of $28 million, a $20 million benefit received in 2024 related to insurance proceeds for property damage and ~~net~~business ~~gains~~interruptions onresulting ~~asset~~from ~~sales~~storm ofdamage events in prior years, a $114 million. ~~Operating~~benefit ~~income~~received in 2024 related to a reduction in U.S. duty rates on various commercial tires from China, and the ~~first~~negative ~~quarter~~impact of ~~2024~~changes ~~excluded~~in ~~asset~~foreign ~~write-offs~~exchange rates of $12 million, ~~accelerated~~primarily ~~depreciation~~related to the weakening of the Brazilian real and ~~accelerated~~Mexican ~~lease~~peso. ~~costs~~These decreases were partially offset by a $287 million benefit related to the Goodyear Forward plan, favorable price and product mix of $851 million, and ~~net~~increased earnings in other tire-related businesses of $18 million, primarily due to higher retail earnings. Operating income for 2025 includes incremental savings from rationalization ~~charges~~plans of $515 million.

Operating income in the first six months of 2025 excluded net rationalization charges of $72 million, asset write-offs, accelerated depreciation and accelerated lease costs of $42 million, and net gains on asset sales of $1 million. Operating income in the first six months of 2024 excluded net rationalization charges of $15 million, net gains on asset sales of $14 million, and asset write-offs, accelerated depreciation and accelerated lease costs of $10 million.

Europe, Middle East and Africa

	Three Months Ended March 31,
		Three Months Ended June 30,															Six Months Ended June 30,
(In millions)	~~2025~~	2025			~~2024~~			2024	~~Change~~			~~PercentChange~~	Change		PercentChange		2025			2024			Change		PercentChange
Tire Units		1211.3				~~12.5~~		11.6		~~(0.2~~	)		(2.0.3)	)%	(2.0)	%	23.6			24.1			(0.5)		(2.0)	%
Net Sales	$	~~1,277~~$	1,344		$	~~1,347~~		$	$1,279	~~(70~~	)		~~(5.2~~$	)%65	5.1	%	$	2,621		$	2,626		$	(5)	(0.2)	%
Operating Income (Loss)		(525)	)			8		30		~~(13~~	)	~~N/M~~	(55)		(183.3)	%	(30)			31			(61)		(196.8)	%
Operating Margin		(01.49	)%	%)		~~0.6~~	%	2.3%									(1.1		%)	1.2		%

Three Months Ended ~~March 31~~June 30, 2025 and 2024

EMEA unit sales in the ~~first~~second quarter of 2025 decreased 0.23 million units, or 2.0%, to 1211.3 million units. Replacement tire volume decreased 0.36 million units, or 37.93%, ~~primarily~~mainly indriven by our consumer business, reflecting market softness and increased competition from the lower tier market. OE tire volume increased 0.13 million units, or 310.09%, primarily in our consumer business, reflecting share gains driven by new fitments.

Net sales in the ~~first~~second quarter of 2025 were $1,~~277~~344 million, ~~decreasing~~increasing $7065 million, or 5.21%, from $1,~~347~~279 million in the ~~first~~second quarter of 2024. The ~~decrease~~increase in net sales was primarily driven by improvements in price and product mix of $42 million, higher sales in other tire-related businesses of $35 million, primarily due to growth in Fleet Solutions, and the ~~negative~~positive impact of changes in foreign exchange rates of $7225 million, driven by a ~~weaker~~stronger euro and British pound, partially offset by a weaker Turkish lira,. These increases were partially offset by lower tire volume of $23 million, and the impact of the sale of the OTR ~~sale~~tire business of $1254 million, ~~including~~excluding ~~the~~ product supply agreement. ~~These~~revenue ~~decreases were partially offset by favorable price and product mix~~ of $4340 million.

Operating loss in the ~~first~~second quarter of 2025 was $525 million, decreasing $1355 million, or 183.3%, from operating income of $830 million in the ~~first~~second quarter of 2024. The change in operating income (loss) was primarily due to higher raw material costs of $5348 million, ~~higher~~a ~~SAG~~net ofbenefit ~~$23~~from ~~million,~~insurance ~~primarily~~recoveries ~~due~~last year related to the Debica fire of $43 million, higher ~~bad~~SAG ~~debt~~of ~~and~~$9 ~~inflation~~million, higher conversion costs of $96 million, primarily driven by inflation, lower earnings in other tire-related businesses of $76 million, primarily due to ~~lower Fleet Solutions and~~ motorcycle ~~earnings~~, and lower tire volume of $35 million. These decreases were partially offset by ~~incremental~~favorable ~~savings~~price ~~from~~and ~~the~~product ~~Goodyear~~mix ~~Forward plan~~ of $4335 million and ~~favorable~~benefits ~~price~~related ~~and~~to ~~product~~the ~~mix~~Goodyear Forward plan of $3829 million. Operating ~~income~~loss infor ~~the~~second ~~first~~ quarter of 2025 includes incremental ~~SAG~~ savings from rationalization plans of $48 million.

Operating income in the first quarter of 2025 excluded accelerated depreciation of $16 million, net rationalization charges of $12 million and a $1 million gain on asset sales. Operating income in the first quarter of 2024 excluded accelerated depreciation of $16 million, net rationalization charges of $6 million and a $2 million loss on asset sales.44

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Operating loss in the second quarter of 2025 excluded net rationalization charges of $43 million, asset write-offs, accelerated depreciation and accelerated lease costs of $26 million and a $1 million net loss on asset sales. Operating income in the second quarter of 2024 excluded an $82 million net gain on asset sales, asset write-offs, accelerated depreciation and accelerated lease costs of $17 million, and net rationalization charges of $3 million.

Six Months Ended June 30, 2025 and 2024

EMEA unit sales in the first six months of 2025 decreased 0.5 million units, or 2.0%, to 23.6 million units. Replacement tire volume decreased 0.9 million units, or 5.5%, mainly driven by our consumer business, reflecting market softness and increased competition from the lower tier market. OE tire volume increased 0.4 million units, or 6.8%, primarily in our consumer business, reflecting share gains driven by new fitments.

Net sales in the first six months of 2025 were $2,621 million, decreasing $5 million, or 0.2%, from $2,626 million in the first six months of 2024. The decrease in net sales was primarily driven by the impact of the sale of the OTR tire business of $90 million, excluding product supply agreement revenue of $63 million, the negative impact of changes in foreign exchange rates of $47 million, driven by a weaker Turkish lira and euro in the first quarter, and lower tire volume of $46 million. These decreases were partially offset by favorable price and product mix of $85 million and higher sales in other-tire-related businesses of $30 million, primarily due to growth in Fleet Solutions.

Operating loss in the first six months of 2025 was $30 million, decreasing $61 million, from operating income of $31 million in the first six months of 2024. The change in operating income (loss) was primarily due to higher raw material costs of $98 million, a net benefit from insurance recoveries last year related to the Debica fire of $32 million, higher SAG of $32 million, lower earnings in other-tire-related businesses of $13 million, higher conversion costs of $12 million, higher transportation costs of $8 million, and lower tire volume of $8 million. These decreases were partially offset by a favorable price and product mix of $73 million and benefits related to the Goodyear Forward plan of $72 million. Operating loss for the first six months of 2025 includes incremental savings from rationalization plans of $12 million.

Operating loss in the second quarter of 2025 excluded net rationalization charges of $55 million and asset write-offs, accelerated depreciation and accelerated lease costs of $42 million. Operating income in the first six months of 2024 excluded an $80 million net gain on asset sales, asset write-offs, accelerated depreciation and accelerated lease costs of $33 million, and net rationalization charges of $10 million.

Asia Pacific

	Three Months Ended March 31,
		Three Months Ended June 30,														Six Months Ended June 30,
(In millions)	~~2025~~	2025		~~2024~~			2024	~~Change~~			~~PercentChange~~	Change		PercentChange		2025		2024		Change		PercentChange
Tire Units		7.85			~~8.9~~		8.9		~~(1.1~~	)		(121.4)	)%	(15.6)	%	15.3		17.8		(2.5)		(14.0)	%
Net Sales	$	~~474~~$	459	$	~~602~~		$	$594	~~(128~~	)		~~(21.3~~$	(135)%	(22.7)	%	$	933	$	1,196	$	(263)	(22.0)	%
Operating Income		4543			60		63		~~(15~~	)		(~~25.0~~20)	)%	(31.7)	%	88		123		(35)		(28.5)	%
Operating Margin		9.54%	%		~~10.0~~	%	10.6%									9.4%		10.3%

Three Months Ended ~~March 31~~June 30, 2025 and 2024

Asia Pacific unit sales in the ~~first~~second quarter of 2025 decreased 1.14 million units, or 1215.46%, to 7.85 million units. Replacement tire volume decreased 1.0.9 million units, or 2118.32%, driven by actions taken to reduce lower margin business, ~~and~~ softness in consumer replacement and weak demand in China. OE tire volume decreased 0.15 million units, or 213.40%, primarily in China.

Net sales in the ~~first~~second quarter of 2025 were $~~474~~459 million, decreasing $~~128~~135 million, or 2122.37%, from $~~602~~594 million in the ~~first~~second quarter of 2024. The decrease in net sales was primarily due to lower tire volume of $6879 million, the ~~impact~~loss of ~~the~~sales ~~OTR~~from ~~sale~~divestitures, ofprimarily ~~$38~~related ~~million,~~to ~~unfavorable~~the ~~price~~sale ~~and~~of ~~product~~the ~~mix~~OTR tire business, of $866 million, and ~~the~~lower ~~negative~~sales ~~impact of changes~~ in ~~foreign~~other ~~exchange~~tire-related ~~rates~~businesses of $8 million. ~~due~~These todecreases ~~the~~were ~~strengthening~~partially ofoffset ~~the~~by ~~U.S.~~favorable ~~dollar.~~price and product mix of $18 million.

Operating income in the ~~first~~second quarter of 2025 was $4543 million, decreasing $1520 million, or 2531.07%, from $6063 million in the ~~first~~second quarter of 2024. The decrease in operating income was primarily due to ~~higher raw material costs of $22 million,~~ decreased earnings of $1721 million due to the ~~sale~~sales of the OTR tire business and the Dunlop brand, lower tire volume of $1519 million, higher raw material costs of $18 million, and higher conversion costs of $2 million. These decreases were partially offset by ~~favorable~~benefits ~~price~~related ~~and~~to ~~product~~the ~~mix~~Goodyear Forward plan of $2217 million, favorable price and aproduct ~~benefit~~mix ~~related~~of to$13 ~~the~~million ~~Goodyear~~and ~~Forward~~other ~~plan~~savings of $1911 million.

Operating income in the ~~first~~second quarter of 2025 excluded net gains on asset sales of $55 million and asset write-offs, accelerated depreciation and accelerated lease costs of $~~2 million and net rationalization charges of $~~1 million. Operating income in the ~~first~~second quarter of 2024 excluded ~~net~~asset ~~rationalization~~write-offs, ~~charges of $11 million and~~ accelerated depreciation and accelerated lease costs of $724 million and net rationalization charges of $2 million.

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Six Months Ended June 30, 2025 and 2024

Asia Pacific unit sales in the first six months of 2025 decreased 2.5 million units, or 14.0%, to 15.3 million units. Replacement tire volume decreased 1.9 million units, or 19.8%, driven by actions taken to reduce lower margin business and softness in consumer replacement. OE tire volume decreased 0.6 million units, or 7.9%, primarily in China.

Net sales in the first six months of 2025 were $933 million, decreasing $263 million, or 22.0%, from $1,196 million in the first six months of 2024. The decrease in net sales was primarily due to lower tire volume of $147 million, the loss of sales from divestitures, primarily related to the sale of the OTR tire business, of $126 million, and lower sales from other-tire related businesses of $14 million. These decreases were partially offset by favorable price and product mix of $32 million.

Operating income in the first six months of 2025 was $88 million, decreasing $35 million, or 28.5%, from $123 million in the first six months of 2024. The decrease in operating income was primarily due to higher raw material costs of $40 million, decreased earnings of $37 million due to the sales of the OTR tire business and the Dunlop brand, and lower tire volume of $34 million. These decreases were partially offset by benefits related to the Goodyear Forward plan of $36 million, favorable price and product mix of $35 million and other cost savings of $6 million.

Operating income in the first six months of 2025 excluded net gains on asset sales of $55 million, asset write-offs, accelerated depreciation and accelerated lease costs of $3 million and net rationalization charges of $1 million. Operating income in the first six months of 2024 excluded asset write-offs, accelerated depreciation and accelerated lease costs of $31 million and net rationalization charges of $13 million.

LIQUIDITY AND CAPITAL RESOURCES

Our primary sources of liquidity are cash generated from our operating and financing activities. Our cash flows from operating activities are driven primarily by our operating results and changes in our working capital requirements and our cash flows from financing activities are dependent upon our ability to access credit or other capital.

At ~~March 31~~June 30, 2025, we had $~~902~~785 million in cash and cash equivalents, compared to $810 million at December 31, 2024. For the ~~three~~six months ended ~~March 31~~June 30, 2025, net cash used for operating activities was $~~538~~718 million, reflecting cash used for working capital of $~~750~~1,069 million, rationalization payments of $65204 million and pension contributions and direct payments of $4153 million, partially offset by ~~proceeds from the sale of our OTR tire business of $185 million for~~ deferred ~~amounts~~income related to ~~the~~divestitures ~~trademark~~of ~~license~~$376 ~~and product supply agreements~~million, as well as the Company's net income for the period of $~~118~~399 million, which included non-cash charges for depreciation and amortization of $~~270~~544 million and a non-cash gain on asset sales of $~~262~~701 million. Net cash provided by investing activities was $~~432~~837 million, primarily representing proceeds from the ~~sale~~sales of ~~our~~the OTR tire business and the Dunlop brand, as well as other asset dispositions, of $~~720~~1,328 million, partially offset by capital expenditures of $~~259~~466 million. Net cash ~~provided~~used byfor financing activities was $~~211~~107 million, primarily due to net ~~borrowings~~debt repayments of $~~198~~112 million.

At ~~March 31~~June 30, 2025, we had $23,~~623~~158 million of unused availability under our various credit agreements, compared to $3,555 million at December 31, 2024. The table below presents unused availability under our credit facilities at those dates:

(In millions)	~~March 31,2025~~	June 30,2025		~~December 31,2024~~		December 31,2024
First lien revolving credit facility	$	~~1,272~~$	1,470	$	~~2,049~~	$	2,049
European revolving credit facility		~~670~~797			~~832~~	832
Chinese credit facilities		~~518~~508			~~500~~	500
Other foreign and domestic debt		163			174
Mexican credit facility		200				—
	$	2,623		$	3,555
Other foreign and domestic debt		183				174
		$	3,158			$	3,555

We have deposited our cash and cash equivalents and entered into various credit agreements and derivative contracts with financial institutions that we considered to be substantial and creditworthy at the time of such transactions. We seek to control our exposure to these financial institutions by diversifying our deposits, credit agreements and derivative contracts across multiple financial institutions, by setting deposit and counterparty credit limits based on long term credit ratings and other indicators of credit risk such as credit default swap spreads and default probabilities, and by monitoring the financial strength of these financial institutions on a regular basis. We also enter into master netting agreements with counterparties when possible. By controlling and monitoring exposure to financial institutions in this manner, we believe that we effectively manage the risk of loss due to nonperformance by a financial institution. However, we cannot provide assurance that we will not experience losses or delays in accessing our deposits or lines of credit due to the nonperformance of a financial institution. Our inability to access our cash deposits or make draws on our lines of credit, or the inability of a counterparty to fulfill its contractual obligations to us, could have a material adverse effect on our liquidity, financial condition or results of operations in the period in which it occurs.

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~~these~~We ~~financial~~expect ~~institutions~~our on2025 afull-year ~~regular~~cash ~~basis.~~flow Weneeds ~~also~~to ~~enter~~include ~~into~~capital ~~master~~expenditures ~~netting~~of ~~agreements~~approximately ~~with counterparties when possible~~$900 million. ByWe ~~controlling~~also ~~and~~expect ~~monitoring~~interest ~~exposure~~expense to ~~financial~~be ~~institutions~~approximately in$450 ~~this~~million; ~~manner,~~rationalization wepayments ~~believe~~to ~~that~~be weapproximately ~~effectively~~$400 million; ~~manage~~income ~~the~~tax ~~risk~~payments ~~of loss due~~ to ~~nonperformance~~be byapproximately a$200 ~~financial institution. However~~million, weexcluding ~~cannot~~one-time ~~provide~~items; ~~assurance~~and ~~that~~contributions weto ~~will not experience losses or delays in accessing~~ our ~~deposits~~funded orpension ~~lines~~plans ~~of credit due~~ to ~~the~~be ~~nonperformance~~$25 ofmillion ato ~~financial~~$50 ~~institution~~million. ~~Our~~We ~~inability~~expect toworking ~~access~~capital ~~our cash deposits or make draws on our lines of credit, or the inability of a counterparty~~ to ~~fulfill~~be ~~its~~neither ~~contractual obligations to us, could have~~ a ~~material~~source ~~adverse~~nor ~~effect~~use ~~on our liquidity, financial condition or results~~ of ~~operations~~cash in ~~the period in which it occurs~~2025.

We expect our 2025 full-year cash flow needs to include capital expenditures of approximately $950 million. We also expect interest expense to be $450 million to $475 million; rationalization payments to be approximately $400 million; income tax payments to be approximately $200 million, excluding one-time items; and contributions to our funded pension plans to be $25 million to $50 million. We expect working capital to be a source of operating cash flows of approximately $50 million.

We are continuing to actively monitor our liquidity and intend to operate our business in a way that allows us to address our cash flow needs with our existing cash and available credit if they cannot be funded by cash generated from operating or other financing activities. We believe that our liquidity position is adequate to fund our operating and investing needs and debt maturities for the next twelve months and to provide us with the ability to respond to further changes in the business environment.

Our ability to service debt and operational requirements is also dependent, in part, on the ability of our subsidiaries to make distributions of cash to various other entities in our consolidated group, whether in the form of dividends, loans or otherwise. In certain countries where we operate, such as China, South Africa, Serbia and Argentina, transfers of funds into or out of such countries by way of dividends, loans, advances or payments to third-party or affiliated suppliers are generally or periodically subject to certain requirements, such as obtaining approval from the foreign government and/or currency exchange board before net assets can be transferred out of the country. In addition, certain of our credit agreements and other debt instruments limit the ability of foreign subsidiaries to make distributions of cash. Thus, we would have to repay and/or amend these credit agreements and other debt instruments in order to use this cash to service our consolidated debt. Because of the inherent uncertainty of satisfactorily meeting these requirements or limitations, we do not consider the net assets of our subsidiaries, including our Chinese, South African, Serbian and Argentinian subsidiaries, which are subject to such requirements or limitations to be integral to our liquidity or our ability to service our debt and operational requirements. At ~~March 31~~June 30, 2025, approximately $~~869~~888 million of net assets, including approximately $~~182~~173 million of cash and cash equivalents, were subject to such requirements. The requirements we must comply with to transfer funds out of China, South Africa, Serbia and Argentina have not adversely impacted our ability to make transfers out of those countries.

Operating Activities

Net cash used for operating activities was $~~538~~718 million in the first ~~three~~six months of 2025, compared to net cash used for operating activities of $~~451~~518 million in the first ~~three~~six months of 2024. The $87200 million increase in net cash used for operating activities was primarily due to an increase in cash used for working capital of $~~211~~300 million, ~~and~~ lower earnings in our SBUs of $52220 million, ~~partially~~and ~~offset~~increased byrationalization ~~proceeds~~payments ~~from the sale~~ of ~~our OTR tire business of~~ $~~185~~99 million, ~~for~~partially offset by deferred ~~amounts~~income related to ~~the~~divestitures ~~trademark~~of ~~license~~$376 ~~and product supply agreements~~million.

The increase in cash used for working capital reflects an increase in cash used for ~~Inventory of $198 million and~~ Accounts Receivable of $~~106~~144 million, ~~partially~~Inventory ~~offset~~of by$115 amillion ~~decrease~~and ~~in cash used for~~ Accounts Payable — Trade of $9341 million. These changes were driven by lower sales volume and the timing of accounts receivable ~~collection~~collections in the first ~~three~~six months of 2025 compared to the first ~~three~~six months of 2024.

Investing Activities

Net cash provided by investing activities was $~~432~~837 million in the first ~~three~~six months of 2025, compared to net cash used for investing activities of $~~231~~488 million in the first ~~three~~six months of 2024. The $~~663~~1,325 million increase in net cash provided by investing activities was primarily due to net cash provided by the sales of the OTR tire business and the Dunlop brand, as well as other asset dispositions, of $~~720~~1,328 million in the first ~~three~~six months of 2025, compared to $108 million in the first ~~three~~six months of 2024. Capital expenditures were $~~259~~466 million in the first ~~three~~six months of 2025, compared to $~~318~~634 million in the first ~~three~~six months of 2024.

Financing Activities

Net cash ~~provided~~used byfor financing activities was $~~211~~107 million in the first ~~three~~six months of 2025, compared to net cash provided by financing activities of $~~661~~896 million in the first ~~three~~six months of 2024. The $~~450~~1,003 million ~~decrease~~increase in cash ~~provided~~used byfor financing activities was primarily related to net ~~borrowings~~debt repayments of $~~198~~112 million in the first ~~three~~six months of 2025, which included the redemption of the remaining $500 million 9.5% senior notes due 2025 and the redemption of $400 million of our 5% senior notes due 2026, compared to net borrowings of $~~684~~919 million in the first ~~three~~six months of 2024.

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Credit Sources

In aggregate, we had total credit arrangements of $10,~~537~~920 million available at ~~March 31~~June 30, 2025, of which $23,~~623~~158 million were unused, compared to $11,223 million available at December 31, 2024, of which $3,555 million were unused. At ~~March 31~~June 30, 2025, we had long term credit arrangements totaling $910,~~842~~139 million, of which $2,~~382~~908 million were unused, compared to $10,352 million and $3,263 million, respectively, at December 31, 2024. At ~~March 31~~June 30, 2025, we had short term committed and uncommitted credit arrangements totaling $~~695~~781 million, of which $~~241~~250 million were unused, compared to $871 million and $292 million, respectively, at December 31, 2024. The continued availability of the short term uncommitted arrangements is at the discretion of the relevant lenders and may be terminated at any time.

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Outstanding Notes

At ~~March 31~~June 30, 2025, we had $4,~~756~~892 million of outstanding notes, compared to $5,240 million at December 31, 2024.

On ~~February~~June 193, 2025, we ~~redeemed~~issued ~~our remaining~~ $500 million 9in aggregate principal amount of 6.5625% senior notes due ~~2025~~2030. atThese anotes ~~redemption~~were ~~price~~sold ~~equal~~at to 100% of the principal amount ~~redeemed~~and ~~plus~~will ~~accrued~~mature ~~and~~on ~~unpaid~~July ~~interest~~15, 2030.

On June 30, 2025, we redeemed $~~2.75~~400 million ~~billion~~of ~~Amended~~our 5% senior notes due 2026 at a redemption price equal to 100% of the principal amount redeemed plus accrued and ~~Restated~~unpaid ~~First~~interest. ~~Lien~~On ~~Revolving~~July ~~Credit~~3, ~~Facility~~2025, we redeemed the remaining $500 million of our 5% senior notes due 2026 at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest. We used the net proceeds from the 6.625% senior notes, together with cash and cash equivalents, to redeem these notes.

~~Our amended and restated first lien revolving credit facility matures on June 8, 2026 and is available in the form of loans or letters of credit~~$2.75 Upbillion toAmended ~~$800 million in letters of credit~~ and ~~$50~~Restated ~~million~~First ofLien ~~swingline~~Revolving ~~loans~~Credit ~~are~~Facility ~~available~~due ~~for issuance under the facility. Subject to the consent of the lenders whose commitments are to be increased, we may request that the facility be increased by up to $250 million.~~ 2030

On May 19, 2025, we amended and restated our U.S. first lien revolving credit facility. The principal change to the facility was the extension of its maturity from June 8, 2026 to May 19, 2030. The interest rate for loans under the facility remained at SOFR plus 125 basis points.

Our amended and restated first lien revolving credit facility is available in the form of loans or letters of credit. Up to $800 million in letters of credit and $50 million of swingline loans are available for issuance under the facility. Subject to the consent of the lenders whose commitments are to be increased, we may request that the facility be increased by up to $250 million.

Our obligations under the facility are guaranteed by most of our wholly-owned U.S. and Canadian subsidiaries. Our obligations under the facility and our subsidiaries' obligations under the related guarantees are secured by first priority security interests in a variety of collateral. Based on our current liquidity, amounts drawn under this facility bear interest at SOFR plus 125 basis points. Undrawn amounts under the facility are subject to an annual commitment fee of 25 basis points.

Availability under the facility is subject to a borrowing base, which is based on (i) eligible accounts receivable and inventory of The Goodyear Tire & Rubber Company and certain of its U.S. and Canadian subsidiaries, (ii) the ~~value~~greater of ~~our~~50% ~~principal~~of ~~trademarks~~the inappraised anvalue, ~~amount~~if ~~not~~any, toof ~~exceed~~our principal trademarks or $400 million, (iii) the value of eligible machinery and equipment, and (iv) certain cash in an amount not to exceed $275 million. To the extent that our eligible accounts receivable, inventory and other components of the borrowing base decline in value, our borrowing base will decrease and the availability under the facility may decrease below $2.75 billion. As of ~~March 31~~June 30, 2025, our borrowing base, and therefore our availability, under this facility was $4769 million below the facility's stated amount of $2.75 billion. In addition, if the amount of outstanding borrowings and letters of credit under the facility exceeds the borrowing base, we would be required to prepay borrowings and/or cash collateralize letters of credit sufficient to eliminate the excess.

At ~~March 31~~June 30, 2025, we had $1,~~430~~210 million of borrowings and $1 million of letters of credit issued under the revolving credit facility. At December 31, 2024, we had $700 million of borrowings and $1 million of letters of credit issued under the revolving credit facility.

€800 million Amended and Restated Senior Secured European Revolving Credit Facility due 2028

At ~~March 31~~June 30, 2025, there were $~~194~~ 140 million (€~~180~~ 120 million) of borrowings outstanding under the ~~German~~all-borrower tranche, no borrowings outstanding under the ~~all-borrower~~German tranche, and no letters of credit outstanding under the European revolving credit facility. At December 31, 2024, we had no borrowings and no letters of credit outstanding under the European revolving credit facility.

Both our first lien revolving credit facility and our European revolving credit facility have customary representations and warranties including, as a condition to borrowing, that all such representations and warranties are true and correct, in all material respects, on the date of the borrowing, including representations as to no material adverse change in our business or financial condition since December 31, ~~2020~~2024 under the first lien facility and December 31, 2021 under the European facility.

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Accounts Receivable Securitization Facilities (On-Balance Sheet)

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available under the facility in an amount of not less than €30 million and not more than €450 million. For the period from October 19, 2023 through October 16, 2024, the designated maximum amount of the facility was €300 million. For the period from October 17, 2024 through October 16, 2025, the designated maximum amount of the facility will remain €300 million.

Accounts Receivable Factoring Facilities (Off-Balance Sheet)

Letters of Credit

At ~~March 31~~June 30, 2025, we had $~~217~~229 million in letters of credit issued under bilateral letter of credit agreements and other foreign credit facilities. The majority of these letter of credit agreements are in lieu of security deposits.

Supplier Financing

Further Information

For a further description of the terms of our outstanding notes, first lien revolving credit facility, European revolving credit facility and pan-European accounts receivable securitization facility, refer to Note to the Consolidated Financial Statements No. 16, Financing Arrangements and Derivative Financial Instruments, in our 2024 Form 10‑K and Note to the Consolidated Financial Statements No. 9, Financing Arrangements and Derivative Financial Instruments, in this Form 10-Q.

Covenant Compliance

Our first lien revolving credit facility ~~and~~contains ~~some of the indentures governing our notes contain~~ certain covenants that, among other things, limit our ability to incur additional debt or issue redeemable preferred stock, pay dividends, repurchase shares or make certain other restricted payments or investments, incur liens, sell assets, incur restrictions on the ability of our subsidiaries to pay dividends or to make other payments to us, enter into affiliate transactions, engage in sale and leaseback transactions, and consolidate, merge, sell or otherwise dispose of all or substantially all of our assets. The indentures governing our notes also contain certain covenants that, among other things, limit our ability to incur liens, engage in sale and leaseback transactions, and consolidate, merge, sell or otherwise dispose of all or substantially all of our assets. These covenants are subject to significant exceptions and qualifications. Our first lien revolving credit facility and the indentures governing our notes also have customary defaults, including cross-defaults to material indebtedness of Goodyear and its subsidiaries.

37We have an additional financial covenant in our first lien revolving credit facility that is currently not applicable. We become subject to that financial covenant when the aggregate amount of our Parent Company (The Goodyear Tire & Rubber Company) and guarantor subsidiaries cash and cash equivalents (“Available Cash”) plus our availability under our first lien revolving

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~~We have an additional financial covenant in our first lien revolving~~ credit facility ~~that~~ is currently not applicable. We become subject to that financial covenant when the aggregate amount of our Parent Company (The Goodyear Tire & Rubber Company) and guarantor subsidiaries cash and cash equivalents (“Available Cash”) plus our availability under our first lien revolving credit facility is less than $275 million. If this were to occur, our ratio of EBITDA to Consolidated Interest Expense may not be less than 2.0 to 1.0 for the most recent period of four consecutive fiscal quarters. As of ~~March 31~~June 30, 2025, our unused availability under this facility of $1,~~272 million~~470, plus our Available Cash of $~~342~~134 million, totaled $1,~~614~~604 million, which is in excess of $275 million.

In addition, our European revolving credit facility contains non-financial covenants similar to the non-financial covenants in our first lien revolving credit facility that are described above, similar non-financial covenants specifically applicable to GEBV and its subsidiaries, and a financial covenant applicable only to GEBV and its subsidiaries. This financial covenant provides that we are not permitted to allow GEBV’s ratio of Consolidated Net GEBV Indebtedness to Consolidated GEBV EBITDA for a period of four consecutive fiscal quarters to be greater than 3.0 to 1.0 at the end of any fiscal quarter. Consolidated Net GEBV Indebtedness is determined net of the sum of cash and cash equivalents in excess of $100 million held by GEBV and its subsidiaries, cash and cash equivalents in excess of $150 million held by the Parent Company and its U.S. subsidiaries, and availability under our first lien revolving credit facility if the ratio of EBITDA to Consolidated Interest Expense described above is not applicable and the conditions to borrowing under the first lien revolving credit facility are met. Consolidated Net GEBV Indebtedness also excludes loans from other consolidated Goodyear entities. This financial covenant is also included in our pan-European accounts receivable securitization facility. At ~~March 31~~June 30, 2025, we were in compliance with this financial covenant.

Our credit facilities also state that we may only incur additional debt or make restricted payments that are not otherwise expressly permitted if, after giving effect to the debt incurrence or the restricted payment, our ratio of EBITDA to Consolidated Interest Expense for the prior four fiscal quarters would exceed 2.0 to 1.0. ~~Certain of our senior note indentures have substantially similar limitations on incurring debt and making restricted payments.~~ Our credit facilities ~~and indentures~~ also permit the incurrence of additional debt through other provisions in those agreements without regard to our ability to satisfy the ratio-based incurrence test described above. We believe that these other provisions provide us with sufficient flexibility to incur additional debt necessary to meet our operating, investing and financing needs without regard to our ability to satisfy the ratio-based incurrence test.

Covenants could change based upon a refinancing or amendment of an existing facility, or additional covenants may be added in connection with the incurrence of new debt.

At ~~March 31~~June 30, 2025, we were in compliance with the currently applicable material covenants imposed by our principal credit facilities and indentures.

The terms “Available Cash,” “EBITDA,” “Consolidated Interest Expense,” “Consolidated Net GEBV Indebtedness” and “Consolidated GEBV EBITDA” have the meanings given them in the respective credit facilities.

Potential Future Financings

In addition to the financing activities described above, we may seek to undertake additional financing actions which could include restructuring bank debt or capital markets transactions, possibly including the issuance of additional debt or equity. Given the inherent uncertainty of market conditions, access to the capital markets cannot be assured.

Our future liquidity requirements may make it necessary for us to incur additional debt. However, a substantial portion of our assets are already subject to liens securing our indebtedness. As a result, we are limited in our ability to pledge our remaining assets as security for additional secured indebtedness. In addition, no assurance can be given as to our ability to raise additional unsecured debt.

Dividends and Common Stock Repurchases

Under our primary credit facilities ~~and some of our note indentures~~, we are permitted to pay dividends on and repurchase our capital stock (which constitute restricted payments) as long as no default will have occurred and be continuing, additional indebtedness can be incurred under the credit facilities ~~or indentures~~ following the payment, and certain financial tests are satisfied.

We do not currently pay a quarterly dividend on our common stock.

The restrictions imposed by our credit facilities ~~and indentures~~ are not expected to significantly affect our ability to pay dividends or repurchase our capital stock in the future.

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Asset Dispositions

Historically, the restrictions on asset sales and sale and leaseback transactions imposed by our material indebtedness have not affected our ability to divest non-core businesses or assets. We may undertake additional asset sales and sale and leaseback transactions in the future. The restrictions imposed by our material indebtedness may require us to seek waivers or amendments of covenants or alternative sources of financing to proceed with future transactions. We cannot assure you that such waivers, amendments or alternative financing could be obtained, or if obtained, would be on terms acceptable to us.

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of covenants or alternative sources of financing to proceed with future transactions. We cannot assure you that such waivers, amendments or alternative financing could be obtained, or if obtained, would be on terms acceptable to us.

Supplemental Guarantor Financial Information

Certain of our subsidiaries, which are listed on Exhibit 22.1 to this Quarterly Report on Form 10-Q and are generally holding or operating companies, have guaranteed our obligations under the $~~900~~500 million outstanding principal amount of 5% senior notes due 2026, the $700 million outstanding principal amount of 4.875% senior notes due 2027, the $850 million outstanding principal amount of 5% senior notes due 2029, the $500 million outstanding principal amount of 6.625% senior notes due 2030, the $550 million outstanding principal amount of 5.25% senior notes due April 2031, the $600 million outstanding principal amount of 5.25% senior notes due July 2031 and the $450 million outstanding principal amount of 5.625% senior notes due 2033 (collectively, the “Notes”).

The Notes have been issued by The Goodyear Tire & Rubber Company (the “Parent Company”) and are its senior unsecured obligations. The Notes rank equally in right of payment with all of our existing and future senior unsecured obligations and senior to any of our future subordinated indebtedness. The Notes are effectively subordinated to our existing and future secured indebtedness to the extent of the assets securing that indebtedness. The Notes are fully and unconditionally guaranteed on a joint and several basis by each of our wholly-owned U.S. and Canadian subsidiaries that also guarantee our obligations under our first lien revolving credit facility (such guarantees, the “Guarantees”; and, such guaranteeing subsidiaries, the “Subsidiary Guarantors”). The Guarantees are senior unsecured obligations of the Subsidiary Guarantors and rank equally in right of payment with all existing and future senior unsecured obligations of our Subsidiary Guarantors. The Guarantees are effectively subordinated to existing and future secured indebtedness of the Subsidiary Guarantors to the extent of the assets securing that indebtedness.

The Notes are structurally subordinated to all of the existing and future debt and other liabilities, including trade payables, of our subsidiaries that do not guarantee the Notes (the “Non-Guarantor Subsidiaries”). The Non-Guarantor Subsidiaries will have no obligation, contingent or otherwise, to pay amounts due under the Notes or to make funds available to pay those amounts. Certain Non-Guarantor Subsidiaries are limited in their ability to remit funds to us by means of dividends, advances or loans due to required foreign government and/or currency exchange board approvals or limitations in credit agreements or other debt instruments of those subsidiaries.

The Subsidiary Guarantors, as primary obligors and not merely as sureties, jointly and severally irrevocably and unconditionally guarantee on a senior unsecured basis the performance and full and punctual payment when due of all obligations of the Parent Company under the Notes and the related indentures, whether for payment of principal of or interest on the Notes, expenses, indemnification or otherwise. The Guarantees of the Subsidiary Guarantors are subject to release in limited circumstances only upon the occurrence of certain customary conditions.

Although the Guarantees provide the holders of Notes with a direct unsecured claim against the assets of the Subsidiary Guarantors, under U.S. federal bankruptcy law and comparable provisions of U.S. state fraudulent transfer laws, in certain circumstances a court could cancel a Guarantee and order the return of any payments made thereunder to the Subsidiary Guarantor or to a fund for the benefit of its creditors.

A court might take these actions if it found, among other things, that when the Subsidiary Guarantors incurred the debt evidenced by their Guarantee (i) they received less than reasonably equivalent value or fair consideration for the incurrence of the debt and (ii) any one of the following conditions was satisfied:

•the Subsidiary Guarantor was insolvent or rendered insolvent by reason of the incurrence;

•the Subsidiary Guarantor was engaged in a business or transaction for which its remaining assets constituted unreasonably small capital; or

•the Subsidiary Guarantor intended to incur, or believed (or reasonably should have believed) that it would incur, debts beyond its ability to pay as those debts matured.

In applying the above factors, a court would likely find that a Subsidiary Guarantor did not receive fair consideration or reasonably equivalent value for its Guarantee, except to the extent that it benefited directly or indirectly from the issuance of the Notes. The determination of whether a guarantor was or was not rendered “insolvent” when it entered into its guarantee will vary depending on the law of the jurisdiction being applied. Generally, an entity would be considered insolvent if the sum of its debts (including contingent or unliquidated debts) is greater than all of its assets at a fair valuation or if the present fair salable value of its assets is less than the amount that will be required to pay its probable liability on its existing debts, including contingent or unliquidated debts, as they mature.

39Under Canadian federal bankruptcy and insolvency laws and comparable provincial laws on preferences, fraudulent conveyances or other challengeable or voidable transactions, the Guarantees could be challenged as a preference, fraudulent

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ofconveyance, ~~its~~transfer ~~assets~~at isundervalue ~~less~~or ~~than~~other ~~the~~challengeable ~~amount~~or ~~that~~voidable ~~will~~transaction. beThe ~~required~~test to ~~pay~~be ~~its~~applied ~~probable~~varies ~~liability~~among onthe ~~its~~different ~~existing~~pieces ~~debts~~of legislation, ~~including~~but ~~contingent~~as ora ~~unliquidated~~general ~~debts,~~matter asthese ~~they~~types ~~mature.~~of challenges may arise in circumstances where:

~~Under~~•such ~~Canadian~~action ~~federal~~was ~~bankruptcy~~intended ~~and~~to ~~insolvency laws and comparable provincial laws on preferences~~defeat, ~~fraudulent conveyances or other challengeable or voidable transactions~~hinder, ~~the Guarantees could be challenged as a preference~~delay, ~~fraudulent~~defraud ~~conveyance, transfer at undervalue~~ or ~~other~~prejudice ~~challengeable~~creditors or ~~voidable transaction. The test to be applied varies among the different pieces of legislation, but as a general matter these types of challenges may arise in circumstances where:~~others;

•such action was ~~intended~~taken within a specified period of time prior to ~~defeat~~the commencement of proceedings under Canadian bankruptcy, ~~hinder~~insolvency or restructuring legislation in respect of a Subsidiary Guarantor, ~~delay~~the consideration received by the Subsidiary Guarantor was conspicuously less than the fair market value of the consideration given, ~~defraud~~and the Subsidiary Guarantor was insolvent or ~~prejudice~~rendered ~~creditors~~insolvent by such action and (in some circumstances, or) ~~others~~such action was intended to defraud, defeat or delay a creditor;

•such action was taken within a specified period of time prior to the commencement of proceedings under Canadian bankruptcy, insolvency or restructuring legislation in respect of a Subsidiary Guarantor, ~~the~~and ~~consideration~~such ~~received~~action ~~by the Subsidiary Guarantor~~ was ~~conspicuously~~taken, ~~less~~or ~~than~~is ~~the~~deemed ~~fair~~to ~~market~~have ~~value~~been ~~of the consideration given~~taken, ~~and~~with ~~the~~a ~~Subsidiary~~view ~~Guarantor~~to ~~was~~giving ~~insolvent~~a orcreditor ~~rendered~~a ~~insolvent~~preference byover ~~such~~other ~~action~~creditors ~~and~~or, (in some circumstances, ~~or)~~had ~~such~~the ~~action~~effect ~~was~~of ~~intended~~giving toa ~~defraud,~~creditor ~~defeat~~a orpreference ~~delay~~over aother ~~creditor~~creditors; or

~~such action was taken within~~ •a ~~specified~~Subsidiary ~~period~~Guarantor ofis ~~time~~found ~~prior~~ to ~~the~~have ~~commencement~~acted ~~of proceedings under Canadian bankruptcy, insolvency or restructuring legislation~~ in ~~respect of~~ a ~~Subsidiary~~manner ~~Guarantor~~that ~~and such action~~ was ~~taken~~oppressive, orunfairly isprejudicial ~~deemed~~ to ~~have been taken, with a view to giving a creditor a preference over other creditors~~ or, inunfairly ~~some~~disregarded ~~circumstances, had~~ the ~~effect~~interests of ~~giving~~any ashareholder, creditor, adirector, ~~preference~~officer ~~over~~or other ~~creditors;~~interested orparty.

a Subsidiary Guarantor is found to have acted in a manner that was oppressive, unfairly prejudicial to or unfairly disregarded the interests of any shareholder, creditor, director, officer or other interested party.

In addition, in certain insolvency proceedings a Canadian court may subordinate claims in respect of the Guarantees to other claims against a Subsidiary Guarantor under the principle of equitable subordination if the court determines that (1) the holder of Notes engaged in some type of inequitable or improper conduct, (2) the inequitable or improper conduct resulted in injury to other creditors or conferred an unfair advantage upon the holder of Notes and (3) equitable subordination is not inconsistent with the provisions of the relevant solvency statute.

If a court canceled a Guarantee, the holders of Notes would no longer have a claim against that Subsidiary Guarantor or its assets.

Each Guarantee is limited, by its terms, to an amount not to exceed the maximum amount that can be guaranteed by the applicable Subsidiary Guarantor without rendering the Guarantee, as it relates to that Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally.

Each Subsidiary Guarantor is a consolidated subsidiary of the Parent Company at the date of each balance sheet presented. The following tables present summarized financial information for the Parent Company and the Subsidiary Guarantors on a combined basis after elimination of (i) intercompany transactions and balances among the Parent Company and the Subsidiary Guarantors and (ii) equity in earnings from and investments in any Non-Guarantor Subsidiary.

~~Summarized Balance Sheets~~

Summarized Balance Sheets

(In millions)

~~March 31,2025~~

June 30,2025

~~December 31,2024~~

December 31, 2024

Total Current Assets(1)

~~6,043~~$

6,017

~~5,621~~

5,621

Total Non-Current Assets

8,~~615~~487

~~8,606~~

8,606

Total Current Liabilities

~~2,922~~

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