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  "documentTitle": "The Goodyear Tire & Rubber Company (GT)",
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      "text": "Loss of Investor Confidence",
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      "text": "Despite the $4.2 billion increase in invested capital, Goodyear's NOPAT declined by 42%",
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      "text": "Despite Goodyear growing its invested capital more than both Michelin and Bridgestone, Goodyear's NOPAT significantly declined while peers' NOPAT grew",
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      "text": "Over the long term, margin is really not the best measure of our profitability due to that raw material volatility. We think a more appropriate measure of our progress is return on invested capital.",
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      "text": "Over the long term, margin is really not the best measure of our profitability due to that raw material volatility. We think a more appropriate measure of our progress is return on invested capital. — Laura Thompson, Former CFO, Goodyear’s 2016 Investor Day",
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      "kind": "source-note",
      "text": "Source: Company filings and transcripts. 1. Defined as total debt & provisions + shareholder equity - cash and cash equivalents. 2. Defined as Net Operating Profits After Taxes.",
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      "text": "Return on Investment has Lagged Peers",
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