Financial Astrology of Goodyear Tire & Rubber Co. (The)

FINANCIAL ASTROLOGY

First Trade Date for Goodyear Tire & Rubber Co. (The)

Company Name	First Trade Date (yyyy-mm-dd)
Goodyear Tire & Rubber Co. (The)	1927-08-05

Company Name	Symbol
Goodyear Tire & Rubber Co. (The)	GT
History and Business of Company (this information may include date of incorporation)
The Goodyear Tire & Rubber Company (the "Company") is an Ohio corporation organized in 1898. Its principal offices are located at 1144 East Market Street, Akron, Ohio 44316-0001. Its telephone number is (330) 796-2121. The terms "Goodyear" and "we," "us" or "our" wherever used herein refer to the Company together with all of its consolidated domestic and foreign subsidiary companies, unless the context indicates to the contrary. Goodyear is one of the world's leading manufacturers of tires and rubber products, engaging in operations in most regions of the world. Goodyear's 2002 net sales were $13.9 billion and its net loss for 2002 was $1.1 billion. Goodyear's principal business is the development, manufacture, distribution and sale of tires for most applications. We also: • manufacture and market - • several lines of rubber and other products for the transportation industry and various other industrial and consumer markets; and • synthetic rubber and rubber-related chemicals for various applications. • provide automotive repair and other services at retail and commercial outlets. • sell various other products. We make available free of charge on our website, http://www.goodyear.com, our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports as soon as reasonably practical after we file or furnish such reports to the SEC. The information on our website is not a part of this Annual Report on Form 10-K. We also will post on our website the code of ethics that we adopt for our principal executive officer and senior financial officers, as well as amendments and waivers. On April 1, 2003 Goodyear completed a comprehensive refinancing and restructuring of its bank credit and receivables securitization facilities. After completing the refinancing and restructuring, Goodyear replaced a total of $2,938 million in finance facilities with a total of $3,345 million in finance facilities including: • $750 million Senior Secured U.S. Revolving Credit Facility due April 2005; • $645 million Senior Secured U.S. Term Facility due April 2005; • $650 million Senior Secured European Facilities due April 2005; and • $1,300 million Senior Secured Asset-Backed Facilities due March 2006. The restructured facilities replaced financial facilities that generally had shorter maturities than the restructured facilities and were unsecured with the exception of approximately $700 million in domestic accounts receivable securitizations and $63 million in Canadian accounts receivable securitizations. The restructuring left in place certain international accounts receivable securitizations. During 2002 and early 2003 there was a series of reductions in Goodyear's credit ratings, and Goodyear perceived the possibility that it would not continue to comply with covenants in its financing agreements relating to pension plan funding and minimum net worth in its existing financing agreements. Accordingly, Goodyear entered into discussions with its lenders regarding amendments of its financing agreements, and obtained waivers of compliance with these covenants. Goodyear also reviewed with its lenders its publicly announced plan to improve its operational and financial performance, involving revitalization of its North American consumer replacement tire business. The discussion with lenders culminated in the refinancing and restructuring that was completed on April 1, 2003. We pledged substantial collateral to secure our obligations under the restructured agreements. The agreements also limit our ability to incur additional indebtedness, make capital expenditures, sell assets and pay dividends. In the event we sell assets, we are required, subject to certain exceptions, to provide the lenders with certain percentages of the net proceeds we receive from such sales. For more information on the restructuring and refinancing of our loan agreements, see "Credit Sources" under Management's Discussion and Analysis of Financial Condition and Results of Operations on page 40 of this Annual Report on Form 10-K. In connection with the refinancing and restructuring, on March 3, 2003, Sumitomo Rubber Industries, Ltd., Goodyear's global alliance partner, consented to various transactions, including: Goodyear Dunlop Tires Europe B.V.'s purchase of Goodyear's interest in Sava Tires Joint Venture Holding d.o.o.; and Goodyear Dunlop Tires Europe's pledge of collateral to secure obligations under the new $650 million Senior Secured European Facilities. In addition, on January 1, 2003, Goodyear and Sumitomo agreed, among other things, to extend the period during which the parties are restricted from exercising their previously agreed respective global alliance exit rights from September 2004 to September 2009. In October 2000, Goodyear and Arkansas Best Corporation formed a joint venture company, Wingfoot Commercial Tire Systems LLC ("Wingfoot") to engage in selling and servicing commercial truck tires, providing retread services and conducting related businesses. Goodyear transferred its commercial truck tire outlets and related assets in exchange for 81% of the equity of the joint venture and Arkansas Best Corporation's subsidiary, Treadco Inc., contributed substantially all of its assets to Wingfoot in exchange for 19% of Wingfoot. On March 19, 2003, Arkansas Best Corporation notified Goodyear of its intention to exercise its right to put its 19% ownership interest to Goodyear for a cash price of approximately $71.3 million. The transaction is expected to close on or about April 28, 2003 after which Goodyear will own 100% of Wingfoot.

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