Goodwill and indefinite-lived intangible assets are tested for impairment annually or more frequently if an indicator of impairment is present. Intangible assets with finite lives are amortized over their useful lives and are reviewed for impairment whenever events or circumstances warrant such review. Goodwill and intangible assets are written down to fair value if considered impaired. Goodwill and Intangible Assets totaled $44 million and $651 million, respectively, at June 30, 2026, compared to $42 million and $663 million, respectively, at December 31, 2025. All goodwill was associated with the reporting unit in our Asia Pacific segment at June 30, 2026 and December 31, 2025.

In the second quarter of 2026, we experienced continued volume declines, primarily in Americas and Europe, Middle East and Africa (“EMEA”). We viewed this event as a triggering event and performed a quantitative analysis of the fair value of $425 million of our indefinite-lived intangible assets related to the acquisition of Cooper Tire as of June 30, 2026. Based on the results of the quantitative impairment assessments, the fair value of the indefinite-lived intangible assets approximated their respective carrying values. We determined the fair value of the indefinite-lived intangible assets using the relief-from-royalty method, which calculates the cost savings associated with owning rather than licensing the assets. The most critical assumptions used in the calculation of the fair value are projected revenue, discount rate and royalty rate. The fair value of the indefinite-lived intangible assets is sensitive to differences between estimated and actual revenue, including changes in the discount rate and royalty rate used to evaluate the fair value of these assets. Although we believe our estimate of fair value is reasonable, the performance of these indefinite-lived intangible assets is dependent on our ability to execute our business plan. If our future financial performance falls below our expectations or there are adverse revisions to significant assumptions, including projected revenues, discount rates or royalty rates, this could be indicative that the fair values of these indefinite-lived intangible assets have declined below their carrying values, and therefore we may need to record a material, non-cash impairment charge in a future period.

At June 30, 2026, after evaluating macroeconomic conditions and our current and future results of operations, we concluded that there were no triggering events and it was not more likely than not that the fair value of goodwill of our reporting unit within our Asia Pacific segment was less than its respective carrying value and, therefore, did not have any impairment.

The International Emergency Economic Powers Act ("IEEPA") was used by President Trump to impose tariffs on imports. On December 10, 2025, we filed a lawsuit in the U.S. Court of International Trade challenging the IEPPA tariffs. On February 20, 2026, the U.S. Supreme Court ruled that IEEPA does not authorize the President to impose tariffs. The Court of International Trade has ordered U.S. Customs and Border Protection ("CBP") to begin refunding tariffs imposed under IEEPA. On April 20, 2026, we submitted our claim for a refund of the IEEPA tariffs through the CBP portal established to process such claims.

We applied the loss recovery model and determined that the receipt of the refund of the previously paid IEEPA tariffs is probable. In the first quarter of 2026, we estimated the amount of the probable refund to be $60 million, of which $46 million was recognized as a reduction to cost of goods sold, $12 million was applied as a reduction to tariffs that remained in inventory, and $2 million was accrued as an other liability associated with contractual terms. We received IEEPA tariff refunds of $42 million in the second quarter of 2026.

The consolidated financial statements include the accounts of all legal entities in which we hold a controlling financial interest. A controlling financial interest generally arises from our ownership of a majority of the voting shares of our subsidiaries. We would also hold a controlling financial interest in variable interest entities if we are considered to be the primary beneficiary. Investments in companies in which we do not own a majority interest and we have the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Investments in other companies are primarily carried at cost. All intercompany balances and transactions have been eliminated in consolidation.

Restricted Cash primarily represents amounts required to be set aside for accounts receivable factoring programs. The restrictions lapse when cash from factored accounts receivable is remitted to the purchaser of those receivables. Restricted cash also includes amounts collected in connection with ongoing agreements related to the sale of our off-the-road ("OTR") tire business. At both June 30, 2026 and 2025, restricted cash was recorded in Prepaid Expenses and Other Current Assets in the Consolidated Balance Sheets.