Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

The following table presents segment sales and operating income, and the reconciliation of segment operating income to Income (Loss) before Income Taxes:



(In millions)	2023			2022		2021
Sales
Americas	$	11,993		$	12,766	$	10,051
Europe, Middle East and Africa		5,606			5,645		5,243
Asia Pacific		2,467			2,394		2,184
Net Sales	$	20,066		$	20,805	$	17,478
Segment Operating Income
Americas	$	749		$	1,094	$	914
Europe, Middle East and Africa		17			61		239
Asia Pacific		202			121		135
Total Segment Operating Income	$	968		$	1,276	$	1,288
Less:
Goodwill impairment (Note 12)		230			—		—
Rationalizations (Note 4)		502			129		93
Interest expense (Note 5)		532			451		387
Other (income) expense (Note 6)		108			75		94
Asset write-offs and accelerated depreciation, net (Note 4)		36			37		1
Corporate incentive compensation plans		70			56		87
Retained expenses of divested operations		18			14		12
Other(1)		149			115		101
Income (Loss) before Income Taxes	$	(677	)	$	399	$	513

(1)

Primarily represents unallocated corporate costs and the elimination of $27 million, $25 million and $22 million for the years ended December 31, 2023, 2022 and 2021, respectively, of royalty income attributable to the SBUs. Other in 2023 also includes $35 million of costs related to the Goodyear Forward plan, primarily related to third-party consulting fees.

Segment Assets

The following table presents segment assets at December 31:



(In millions)	2023		2022
Assets
Americas	$	11,647	$	12,171
Europe, Middle East and Africa		4,873		5,239
Asia Pacific		2,767		2,913
Total Segment Assets		19,287		20,323
Corporate(1)		2,295		2,108
	$	21,582	$	22,431

(1)

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

Geographic Information

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.



(In millions)	2023		2022		2021
Net Sales
United States	$	9,807	$	10,734	$	8,480
Other international		10,259		10,071		8,998
	$	20,066	$	20,805	$	17,478
Long-Lived Assets
United States	$	3,891	$	3,804
China		713		743
Other international		3,888		3,747
	$	8,492	$	8,294

Rationalizations, Asset sales, Other Expense and Asset Write-offs and Accelerated Depreciation Attributable to the SBUs

Goodwill impairment, as described in Notes to the Consolidated Financial Statements No. 12, Goodwill and Intangible Assets; 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. 6, Other (Income) Expense; and asset write-offs and accelerated depreciation were not charged (credited) to the SBUs for performance evaluation purposes but were attributable to the SBUs as follows:



(In millions)	2023		2022		2021
Goodwill Impairment
Europe, Middle East and Africa		230		—		—
Total Segment Goodwill Impairment	$	230	$	—	$	—



(In millions)	2023		2022		2021
Rationalizations
Americas	$	19	$	32	$	38
Europe, Middle East and Africa		409		92		49
Asia Pacific		25		—		—
Total Segment Rationalizations	$	453	$	124	$	87
Corporate		49		5		6
	$	502	$	129	$	93



(In millions)	2023			2022			2021
Net Gains on Asset Sales
Americas	$	(104	)	$	(122	)	$	(1	)
Europe, Middle East and Africa		—			—			(13	)
Total Segment Gains on Asset Sales	$	(104	)	$	(122	)	$	(14	)
Corporate		—			—			(6	)
	$	(104	)	$	(122	)	$	(20	)



(In millions)	2023		2022		2021
Asset Write-Offs and Accelerated Depreciation, net
Americas	$	19	$	—	$	—
Europe, Middle East and Africa		17		20		1
Total Segment Asset Write-Offs and Accelerated Depreciation, net	$	36	$	20	$	1
Corporate		—		17		—
	$	36	$	37	$	1

Segment Capital Expenditures, Depreciation and Amortization

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



(In millions)	2023		2022		2021
Capital Expenditures
Americas	$	638	$	611	$	537
Europe, Middle East and Africa		255		258		270
Asia Pacific		126		144		135
Total Segment Capital Expenditures	$	1,019	$	1,013	$	942
Corporate		31		48		39
	$	1,050	$	1,061	$	981



(In millions)	2023		2022		2021
Depreciation and Amortization
Americas	$	580	$	561	$	486
Europe, Middle East and Africa		239		208		213
Asia Pacific		141		144		146
Total Segment Depreciation and Amortization	$	960	$	913	$	845
Corporate		41		51		38
	$	1,001	$	964	$	883

Segment Equity In Net Income (Loss) of Investees Accounted For By the Equity Method

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



(In millions)	2023			2022			2021
Equity in (Income) Loss
Americas	$	15		$	(14	)	$	(18	)
Europe, Middle East and Africa		(1	)		1			—
Asia Pacific		(16	)		(12	)		(4	)
Total Segment Equity in Income	$	(2	)	$	(25	)	$	(22	)