Goodyear suffers double-digit drops in operating income

摘要

AKRON-Goodyear suffered dou-ble-digit drops in segment operating income for the quarter and fiscal year ended Dec. 31 and reported a tax-re-form-related net loss for the quarter. Goodyear cited elevated raw materials costs and the "unfavorable" impact of reduced production volumes on costs for the operating earnings declines,and said the fourth-quarter loss was driven by a $299 million one-time,non-cash tax charge related to U.S. tax reform.