What is Goodyear Tire & Rubber Company's goodwill impairment?

Goodyear Tire & Rubber Company (GT) reported goodwill impairment of $57.5M in Q4 2023.

What does goodwill impairment mean?

Write-down of goodwill carrying value when a reporting unit's fair value falls below its book value, indicating that past acquisitions have lost value.

Goodyear Tire & Rubber Company GT Goodwill impairment

Discontinued — last reported Q4 '23

Goodwill impairment at other companies

Dorman ProductsDORM

$14.18M—

Penske Automotive GroupPAG

$0—

Segments

By segment

See full

Americas$674M—

Asia Pacific$0—

Other financials

Income statement

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Revenue$3.9B-8.7%

Gross profit$693.0M-6.4%

Net income-$249.0M-317%

EPS (diluted)-$0.86-315%

Balance sheet

See full

Cash & equivalents$723.0M-19.8%

Total debt$7.1B-21.5%

Total equity$3.0B-39.1%

Total assets$18.5B-14.9%

Cash flow

See full

Operating cash flow-$718.0M-33.5%

CapEx$175.0M-32.4%

Free cash flow-$893.0M-12.0%

Valuation

See full

Market cap$1.81B-27.9%

Profitability

See full

Gross margin18.6%-0.9pp

Net margin-12.2%-13.5pp

FCF margin-3.1%-6.4pp

Returns & leverage

See full

Return on equity-55.2%-60.0pp

Debt / equity2.4×+0.5×

Current ratio1×-0.2×

Where this comes from

Reported directly by Goodyear Tire & Rubber Company in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairmentLoss.

The official record: Goodyear Tire & Rubber Company’s 10-K, filed February 13, 2024, on SEC EDGAR. View the filing →

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Questions, answered.

What is Goodyear Tire & Rubber Company's goodwill impairment?: Goodyear Tire & Rubber Company (GT) reported goodwill impairment of $57.5M in Q4 2023.
What does goodwill impairment mean?: Write-down of goodwill carrying value when a reporting unit's fair value falls below its book value, indicating that past acquisitions have lost value.