Goodyear Tire & Rubber (GT) FY2012 results: revenue $21.0 billion, down 7.8% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $21.0 billion for fiscal 2012, the year ended 31 December 2012, down 7.8% on the year before. Net income was $212 million, down 38.2%, and diluted earnings per share $0.74. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2013.
Revenue
$21.0 billion
-7.8% on the year
FY2008FY2012
Operating margin
5.9%
6.0% a year earlier
FY2008FY2012
Net income
$212 million
-38.2% on the year
FY2008FY2012
Diluted EPS
$0.74
-41.3% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
20,992
22,767
18,832
-7.8%
Cost of revenue
17,163
18,821
15,452
-8.8%
Gross profit
3,829
3,946
3,380
-3.0%
Gross margin
18.2%
17.3%
17.9%
Research and development
370
369
342
+0.3%
Selling, general and administrative
2,718
2,822
2,630
-3.7%
Operating income
1,248
1,368
917
-8.8%
Operating margin
5.9%
6.0%
4.9%
Interest expense
357
330
316
+8.2%
Pre-tax income
440
618
8.0
-28.8%
Income tax
203
201
172
+1.0%
Effective tax rate
46.1%
32.5%
2150.0%
Net income
212
343
-216
-38.2%
Net margin
1.0%
1.5%
-1.1%
Diluted EPS
$0.74
$1.26
-$0.89
-41.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,038
773
924
+34.3%
Capital expenditure
1,127
1,043
944
+8.1%
Free cash flow
-89.0
-270
-20.0
Free cash flow margin
-0.4%
-1.2%
-0.1%
Cash from investing
-1,123
-902
-859
Cash from financing
-426
994
179
Depreciation and amortisation
687
715
652
-3.9%
Share-based compensation
15.0
18.0
26.0
-16.7%
Buybacks
0.0
n/a
n/a
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
247m
271m
242m
-8.9%
Shares outstanding at period end
245m
245m
243m
+0.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
370
749
644
-50.6%
Non-controlling interest
255
268
277
-4.9%
Short-term borrowings
102
n/a
n/a
Debt
4,926
5,201
4,745
-5.3%
Other liabilities
11,320
11,411
9,964
-0.8%
Total liabilities and equity
16,973
17,629
15,630
-3.7%
Fixed assets
6,956
6,375
6,165
+9.1%
Goodwill
664
654
683
+1.5%
Intangible assets
140
157
161
-10.8%
Cash and equivalents
2,281
2,772
2,005
-17.7%
Receivables
2,563
2,849
2,736
-10.0%
Inventory
3,250
3,856
2,977
-15.7%
Other assets
1,119
966
903
+15.8%
Total assets
16,973
17,629
15,630
-3.7%
10-K for the year ended 31 December 2012, filed 12 February 2013: the filing.