Financial Statement Project : Goodyear Tire & Rubber Company Essay
Goodyear Tire & Rubber Company follows in accordance with Securities and Exchange Commission 's rules and its Regulations, and contains all the related adjustments important to present its result of operations and cash flows and its financial position in the market. In the year of 2015, the Net Sales went to $16443 million but the Net Income for Goodyear and Shareholders went up to $ 307 million. Majorly into Tire manufacturing, its sales and distribution, now Goodyear is expanding its market towards Rubber-related chemicals, useful for various applications globally. Goodyear is into Vehicles service and tire retreading centers with 49 manufacturing facilities available globally in 22 countries, USA - Akron being the main headquarters.
In the year 2015, 87% sales were for new tires compared to previous financial years but the sales for Chemical products and natural rubber decreased compared to previous years. 87% sales of the new tires were done in the highly competitive world and Goodyear succeeded to attract the customers based upon trust and loyalty.
Few geographical locations important for Goodyear include Europe, North America, Asia Pacific, Middle East & Africa and Latin America. North America being the largest segment in Revenues, development, manufactures, distributes and sales of tires and related products. For achieving all the success, Goodyear needs to have a strong strategy to be followed, and gaining insights from…