Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 01, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000031235 | |
Entity Registrant Name | EASTMAN KODAK CO | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 1-00087 | |
Entity Incorporation, State or Country Code | NJ | |
Entity Tax Identification Number | 16-0417150 | |
Entity Address, Address Line One | 343 STATE STREET | |
Entity Address, City or Town | ROCHESTER | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 14650 | |
City Area Code | 585 | |
Local Phone Number | 724-4000 | |
Title of 12(b) Security | Common stock, par value $0.01 per share | |
Trading Symbol | KODK | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 79,101,776 |
Consolidated Statement of Opera
Consolidated Statement of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Revenues | |||||
Total revenues | [1] | $ 289 | $ 287 | $ 900 | $ 843 |
Cost of revenues | |||||
Total cost of revenues | 246 | 244 | 773 | 712 | |
Gross profit | (43) | (43) | (127) | (131) | |
Selling, general and administrative expenses | 39 | 43 | 123 | 131 | |
Research and development costs | 8 | 8 | 26 | 24 | |
Restructuring costs and other | 3 | 0 | 3 | 1 | |
Other operating expense (income), net | 0 | 1 | 0 | (6) | |
Loss from operations before interest expense, pension income excluding service cost component, other (income) charges, net and income taxes | (7) | (9) | (25) | (19) | |
Interest expense | 10 | 9 | 29 | 23 | |
Pension income excluding service cost component | (20) | (25) | (77) | (76) | |
Other (income) charges, net | 0 | (2) | 2 | (1) | |
Earnings from operations before income taxes | 3 | 9 | 21 | 35 | |
Provision for income taxes | 1 | 1 | 2 | 5 | |
Net income | $ 2 | $ 8 | $ 19 | $ 30 | |
Basic net (loss) income per share attributable to Eastman Kodak Company common shareholders (in dollars per share) | $ (0.01) | $ 0.06 | $ 0.11 | $ 0.40 | |
Diluted net (loss) income per share attributable to Eastman Kodak Company common shareholders (in dollars per share) | $ (0.01) | $ 0.06 | $ 0.11 | $ 0.39 | |
Number of common shares used in basic and diluted net income per share | |||||
Basic (in shares) | 79 | 78.6 | 78.9 | 78.3 | |
Diluted (in shares) | 79 | 80.6 | 80.7 | 80.5 | |
Product [Member] | |||||
Revenues | |||||
Total revenues | $ 234 | $ 231 | $ 734 | $ 674 | |
Cost of revenues | |||||
Total cost of revenues | 208 | 206 | 662 | 595 | |
Service [Member] | |||||
Revenues | |||||
Total revenues | 55 | 56 | 166 | 169 | |
Cost of revenues | |||||
Total cost of revenues | $ 38 | $ 38 | $ 111 | $ 117 | |
[1]Sales are reported in the geographic area in which they originate. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
NET INCOME | $ 2 | $ 8 | $ 19 | $ 30 |
Other comprehensive income (loss), net of tax: | ||||
Currency translation adjustments | (1) | 0 | (6) | 3 |
Pension and other postretirement benefit plan obligation activity, net of tax | 2 | 7 | 112 | 21 |
Other comprehensive income, net of tax | 1 | 7 | 106 | 24 |
COMPREHENSIVE INCOME, NET OF TAX | $ 3 | $ 15 | $ 125 | $ 54 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position (Unaudited) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and cash equivalents | $ 216 | $ 362 |
Trade receivables, net of allowances of $6 and $7, respectively | 164 | 175 |
Inventories, net | 273 | 219 |
Other current assets | 44 | 49 |
Current assets held for sale | 2 | 2 |
Total current assets | 699 | 807 |
Property, plant and equipment, net of accumulated depreciation of $440 and $441, respectively | 147 | 140 |
Goodwill | 12 | 12 |
Intangible assets, net | 30 | 34 |
Operating lease right-of-use assets | 41 | 47 |
Restricted cash | 57 | 54 |
Pension and other postretirement assets | 1,198 | 1,022 |
Other long-term assets | 75 | 55 |
TOTAL ASSETS | 2,259 | 2,171 |
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY | ||
Accounts payable, trade | 147 | 153 |
Short-term borrowings and current portion of long-term debt | 1 | 1 |
Current portion of operating leases | 12 | 13 |
Other current liabilities | 137 | 142 |
Total current liabilities | 297 | 309 |
Long-term debt, net of current portion | 312 | 253 |
Pension and other postretirement liabilities | 336 | 382 |
Operating leases, net of current portion | 36 | 45 |
Other long-term liabilities | 176 | 205 |
Total liabilities | 1,157 | 1,194 |
Commitments and Contingencies (Note 8) | ||
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference | 201 | 196 |
Equity | ||
Common stock, $0.01 par value | 0 | 0 |
Additional paid in capital | 1,162 | 1,166 |
Treasury stock, at cost | (11) | (10) |
Accumulated deficit | (577) | (596) |
Accumulated other comprehensive income | 327 | 221 |
Total shareholders’ equity | 901 | 781 |
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY | 2,259 | 2,171 |
Series A Preferred Stock [Member] | ||
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY | ||
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference | $ 201 | $ 196 |
Consolidated Statement of Fin_2
Consolidated Statement of Financial Position (Unaudited) (Parentheticals) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Allowance for trade receivables | $ 6 | $ 7 |
Property, plant, equipment, accumulated depreciation | $ 440 | $ 441 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Series A Preferred Stock [Member] | ||
Preferred stock, no par value (in dollars per share) | 0 | 0 |
Preferred stock, liquidation preference per share (in dollars per share) | $ 100 | $ 100 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | ||
Cash flows from operating activities: | |||
Net income | $ (19) | $ (30) | |
Adjustments to reconcile to net cash used in operating activities: | |||
Depreciation and amortization | 22 | 23 | |
Pension income | (64) | (63) | |
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives | [1] | (1) | (3) |
Net loss on sales of assets | 0 | 1 | |
Non-cash changes in workers' compensation reserves | (13) | (4) | |
Stock based compensation | 4 | 6 | |
Benefit from deferred income taxes | (3) | (1) | |
(Increase) decrease in trade receivables | (7) | 6 | |
Increase in inventories | (74) | (38) | |
Increase in trade payables | 5 | 33 | |
Decrease in liabilities excluding borrowings and trade payables | (26) | (26) | |
Other items, net | 8 | 3 | |
Total adjustments | (149) | (63) | |
Net cash used in operating activities | (130) | (33) | |
Cash flows from investing activities: | |||
Additions to properties | (19) | (10) | |
Purchase of preferred equity interest | (25) | 0 | |
Net proceeds from sales of assets | 0 | 1 | |
Net cash used in investing activities | (44) | (9) | |
Cash flows from financing activities: | |||
Net proceeds from Term Loan Credit Agreement | 49 | 215 | |
Net proceeds from Convertible Notes | 0 | 25 | |
Proceeds from sale of common stock | 0 | 10 | |
Debt issuance costs | 0 | (2) | |
Preferred stock cash dividend payments | (3) | (6) | |
Treasury stock purchases | (1) | (1) | |
Net cash provided by financing activities | 45 | 240 | |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (14) | (3) | |
Net (decrease) increase in cash, cash equivalents and restricted cash | (143) | 195 | |
Cash, cash equivalents and restricted cash, beginning of period | 423 | 256 | |
Cash, cash equivalents and restricted cash, end of period | 280 | 451 | |
Series C Preferred Stock [Member] | |||
Cash flows from financing activities: | |||
Net proceeds from Series C Preferred Stock | 0 | 99 | |
Series A Preferred Stock [Member] | |||
Cash flows from financing activities: | |||
Repurchase of Series A Preferred Stock | $ 0 | $ (100) | |
[1]Refer to Note 19, “Financial Instruments”. |
Consolidated Statement of Equit
Consolidated Statement of Equity (Deficit) (Unaudited) - USD ($) $ in Millions | Series A Preferred Stock [Member] Common Stock [Member] | Series A Preferred Stock [Member] Additional Paid-in Capital [Member] | Series A Preferred Stock [Member] Retained Earnings [Member] | Series A Preferred Stock [Member] AOCI Attributable to Parent [Member] | Series A Preferred Stock [Member] Treasury Stock [Member] | Series A Preferred Stock [Member] Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] Common Stock [Member] | Series B Preferred Stock [Member] Additional Paid-in Capital [Member] | Series B Preferred Stock [Member] Retained Earnings [Member] | Series B Preferred Stock [Member] AOCI Attributable to Parent [Member] | Series B Preferred Stock [Member] Treasury Stock [Member] | Series B Preferred Stock [Member] Preferred Stock [Member] | Series B Preferred Stock [Member] | Series C Preferred Stock [Member] Common Stock [Member] | Series C Preferred Stock [Member] Additional Paid-in Capital [Member] | Series C Preferred Stock [Member] Retained Earnings [Member] | Series C Preferred Stock [Member] AOCI Attributable to Parent [Member] | Series C Preferred Stock [Member] Treasury Stock [Member] | Series C Preferred Stock [Member] Preferred Stock [Member] | Series C Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Preferred Stock [Member] | Total | |
Balance at Dec. 31, 2020 | $ 0 | $ 1,152 | $ (620) | $ (446) | $ (9) | $ 191 | $ 77 | ||||||||||||||||||||||
NET INCOME | 0 | 0 | 6 | 0 | 0 | 0 | 6 | ||||||||||||||||||||||
Currency translation adjustments | 0 | 0 | 0 | (1) | 0 | 0 | (1) | ||||||||||||||||||||||
Preferred stock cash dividends | 0 | 0 | 0 | 0 | 0 | (1) | |||||||||||||||||||||||
Preferred stock cash dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 0 | 0 | 0 | 0 | (1) | ||||||||||||||||||||||||
Preferred stock in-kind dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 1 | ||||||||||||||||||||||||||||
Preferred stock deemed dividends | 0 | (2) | 0 | 0 | 0 | 2 | (2) | ||||||||||||||||||||||
Stock-based compensation | 0 | 3 | 0 | 0 | 0 | 0 | 3 | ||||||||||||||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | 6 | 0 | 0 | 6 | ||||||||||||||||||||||
Treasury stock purchases (1) | 0 | 0 | 0 | 0 | (1) | 0 | (1) | ||||||||||||||||||||||
Repurchase of Series A preferred stock | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (100) | $ 0 | ||||||||||||||||||||||
Exchange of Series A preferred stock | 0 | 92 | 0 | 0 | 0 | (92) | 92 | ||||||||||||||||||||||
Expiration of Series A preferred stock embedded derivative | $ 0 | $ 11 | $ 0 | $ 0 | $ 0 | $ 0 | $ 11 | ||||||||||||||||||||||
Issuance of convertible, redeemable preferred stock, net | $ 0 | $ 0 | $ 0 | $ 0 | $ 93 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 97 | $ 0 | |||||||||||||||||
Issuance of convertible, redeemable preferred stock, net | $ (95) | $ (95) | |||||||||||||||||||||||||||
Issuance of common stock | 0 | 10 | 0 | 0 | 0 | 0 | 10 | ||||||||||||||||||||||
Balance at Mar. 31, 2021 | 0 | 1,169 | (614) | (441) | (10) | 192 | 104 | ||||||||||||||||||||||
Balance at Dec. 31, 2020 | 0 | 1,152 | (620) | (446) | (9) | 191 | 77 | ||||||||||||||||||||||
NET INCOME | 30 | ||||||||||||||||||||||||||||
Preferred stock cash dividends | (4) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | (3) | ||||||||||||||||||||||||||||
Balance at Sep. 30, 2021 | 0 | 1,166 | (590) | (422) | (10) | 195 | 144 | ||||||||||||||||||||||
Balance at Mar. 31, 2021 | 0 | 1,169 | (614) | (441) | (10) | 192 | 104 | ||||||||||||||||||||||
NET INCOME | 0 | 0 | 16 | 0 | 0 | 0 | 16 | ||||||||||||||||||||||
Currency translation adjustments | 0 | 0 | 0 | 4 | 0 | 0 | 4 | ||||||||||||||||||||||
Preferred stock cash dividends | 0 | 0 | 0 | 0 | 0 | (2) | |||||||||||||||||||||||
Preferred stock cash dividends | (2) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 0 | 0 | 0 | 0 | (1) | ||||||||||||||||||||||||
Preferred stock in-kind dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 1 | ||||||||||||||||||||||||||||
Stock-based compensation | 0 | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||||||||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | 8 | 0 | 0 | 8 | ||||||||||||||||||||||
Balance at Jun. 30, 2021 | 0 | 1,167 | (598) | (429) | (10) | 193 | 130 | ||||||||||||||||||||||
NET INCOME | 0 | 0 | 8 | 0 | 0 | 0 | 8 | ||||||||||||||||||||||
Preferred stock cash dividends | $ 0 | $ 0 | $ 0 | $ 0 | $ (1) | 0 | (1) | ||||||||||||||||||||||
Preferred stock cash dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | $ 0 | $ 0 | $ 0 | $ 0 | $ (1) | (1) | |||||||||||||||||||||||
Preferred stock in-kind dividends | $ (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | $ 1 | ||||||||||||||||||||||||||||
Preferred stock deemed dividends | 0 | (1) | 0 | 0 | 0 | 1 | (1) | ||||||||||||||||||||||
Stock-based compensation | 0 | 2 | 0 | 0 | 0 | 0 | 2 | ||||||||||||||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | 7 | 0 | 0 | 7 | ||||||||||||||||||||||
Balance at Sep. 30, 2021 | 0 | 1,166 | (590) | (422) | (10) | 195 | 144 | ||||||||||||||||||||||
Balance at Dec. 31, 2021 | 0 | 1,166 | (596) | 221 | (10) | 196 | 781 | ||||||||||||||||||||||
NET INCOME | 0 | 0 | (3) | 0 | 0 | 0 | (3) | ||||||||||||||||||||||
Currency translation adjustments | 0 | 0 | 0 | 5 | 0 | 0 | 5 | ||||||||||||||||||||||
Preferred stock cash dividends | 0 | 0 | 0 | 0 | 0 | (1) | |||||||||||||||||||||||
Preferred stock cash dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 0 | 0 | 0 | 0 | (1) | ||||||||||||||||||||||||
Preferred stock in-kind dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 1 | ||||||||||||||||||||||||||||
Preferred stock deemed dividends | 0 | (1) | 0 | 0 | 0 | 1 | (1) | ||||||||||||||||||||||
Stock-based compensation | 0 | 2 | 0 | 0 | 0 | 0 | 2 | ||||||||||||||||||||||
Balance at Mar. 31, 2022 | 0 | 1,165 | (599) | 226 | (10) | 198 | 782 | ||||||||||||||||||||||
Balance at Dec. 31, 2021 | 0 | 1,166 | (596) | 221 | (10) | 196 | 781 | ||||||||||||||||||||||
NET INCOME | 19 | ||||||||||||||||||||||||||||
Preferred stock cash dividends | (3) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | (4) | ||||||||||||||||||||||||||||
Balance at Sep. 30, 2022 | 0 | 1,162 | (577) | 327 | (11) | 201 | 901 | ||||||||||||||||||||||
Balance at Mar. 31, 2022 | 0 | 1,165 | (599) | 226 | (10) | 198 | 782 | ||||||||||||||||||||||
NET INCOME | 0 | 0 | 20 | 0 | 0 | 0 | 20 | ||||||||||||||||||||||
Currency translation adjustments | 0 | 0 | 0 | (10) | 0 | 0 | (10) | ||||||||||||||||||||||
Preferred stock cash dividends | 0 | 0 | 0 | 0 | 0 | (1) | |||||||||||||||||||||||
Preferred stock cash dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 0 | 0 | 0 | 0 | (1) | ||||||||||||||||||||||||
Preferred stock in-kind dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 1 | ||||||||||||||||||||||||||||
Stock-based compensation | 0 | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||||||||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | 110 | 0 | 0 | 110 | ||||||||||||||||||||||
Balance at Jun. 30, 2022 | 0 | 1,164 | (579) | 326 | (10) | 199 | 901 | ||||||||||||||||||||||
NET INCOME | 0 | 0 | 2 | 0 | 0 | 0 | 2 | ||||||||||||||||||||||
Currency translation adjustments | 0 | 0 | 0 | (1) | 0 | 0 | (1) | ||||||||||||||||||||||
Preferred stock cash dividends | 0 | 0 | 0 | 0 | 0 | (1) | |||||||||||||||||||||||
Preferred stock cash dividends | (1) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 0 | 0 | 0 | 0 | (2) | ||||||||||||||||||||||||
Preferred stock in-kind dividends | (2) | ||||||||||||||||||||||||||||
Preferred stock in-kind dividends | 2 | ||||||||||||||||||||||||||||
Stock-based compensation | 0 | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||||||||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | 2 | 0 | 0 | 2 | ||||||||||||||||||||||
Treasury stock purchases (1) | [1] | 0 | 0 | 0 | 0 | (1) | 0 | (1) | |||||||||||||||||||||
Balance at Sep. 30, 2022 | $ 0 | $ 1,162 | $ (577) | $ 327 | $ (11) | $ 201 | $ 901 | ||||||||||||||||||||||
[1]Represents purchases of common stock to sa??sfy tax withholding obliga??ons. |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 1: BASIS OF PRESENTATION The consolidated interim financial statements are unaudited, and certain information and footnote disclosures related thereto normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted in accordance with the instructions to Form 10 10 01 X. not 10 December 31, 2021 2021 10 Reclassification Certain amounts from previous periods have been reclassified to conform to the current period classification in the disaggregated revenue information for the Digital Printing segment. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS No 2022 RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In June 2016, 2016 13, 326 2016 13 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, 2020 02, 2020 03 2022 02 January 1, 2023, |
Note 2 - Cash, Cash Equivalents
Note 2 - Cash, Cash Equivalents and Restricted Cash | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 2: The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Financial Position that sums to the total of such amounts shown in the Statement of Cash Flows: September 30, December 31, (in millions) 2022 2021 Cash and cash equivalents $ 216 $ 362 Restricted cash reported in Other current assets 7 7 Restricted cash 57 54 Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows $ 280 $ 423 Restricted cash reported in Other current assets on the Consolidated Statement of Financial Position primarily represents amounts that support hedging activities. Restricted cash includes $44 million and $45 million as of September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 |
Note 3 - Inventories, Net
Note 3 - Inventories, Net | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3: September 30, December 31, (in millions) 2022 2021 Finished goods $ 123 $ 94 Work in process 71 65 Raw materials 79 60 Total $ 273 $ 219 |
Note 4 - Other Long-term Assets
Note 4 - Other Long-term Assets | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 4: September 30, December 31, (in millions) 2022 2021 Preferred equity investment $ 25 $ — Estimated workers' compensation recoveries 14 18 Long-term receivables 10 11 Other 26 26 Total $ 75 $ 55 On July 13, 2022 5,"Debt |
Note 5 - Debt and Finance Lease
Note 5 - Debt and Finance Leases | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Debt and Finance Leases Disclosures [Text Block] | NOTE 5: Debt and finance leases and related maturities and interest rates were as follows: Weighted-Average September 30, December 31, (in millions) Type Maturity Effective Interest Rate 2022 2021 Current portion: RED-Rochester, LLC 2033 11.48 % $ 1 $ 1 1 1 Non-current portion: Term loans 2026 13.78 % 282 224 Convertible debt 2026 17.38 % 17 15 RED-Rochester, LLC 2033 11.48 % 12 12 Finance leases Various Various — 1 Other debt Various Various 1 1 312 253 $ 313 $ 254 Annual maturities of debt and finance leases outstanding at September 30, 2022 Carrying Maturity Value Value Q4 2022 $ — $ — 2023 2 2 2024 1 1 2025 1 1 2026 300 367 2027 and thereafter 9 9 Total $ 313 $ 380 Term Loan Credit Agreement On February 26, 2021, February 26, 2023 ( February 26, 2021 June 15, 2022. June 15, 2022 February 26, 2026 The Term Loans bear interest at a rate of 8.5% per annum payable quarterly in cash and 4.0% per annum payable in cash on the maturity date or quarterly, at EKC’s option, for an aggregate interest rate of 12.5% per annum. The payment of interest only at the maturity date has the same effect as delivering additional debt instruments to the Term Loan Lenders and therefore is considered Paid-in-Kind (“PIK”). The Company elected the 4.0% per annum in PIK which is being added to the carrying value of the debt through the term. Interest expense is being recorded using the effective interest method. The Term Loans are guaranteed by the Company and certain of its domestic subsidiaries (the “Subsidiary Guarantors”), and are secured by (i) a first not third The Term Loan Credit Agreement limits, among other things, the ability of the Company and its Restricted Subsidiaries (as defined in the Term Loan Credit Agreement) to (i) incur indebtedness, (ii) incur or create liens, (iii) dispose of assets, (iv) make restricted payments and (v) make investments, and also contains customary affirmative covenants including delivery of certain of the Company’s financial statements set forth therein. The Term Loan Credit Agreement does not 2021 On February 26, 2021, May 28, 2026 ( May 28, 2026. Conversion Features The Buyers have the right to elect at any time to convert the Convertible Notes into shares of Common Stock at an initial conversion rate equal to 100 shares of Common Stock per each $1,000 principal amount of the Convertible Notes (based on an initial conversion price equal to $10.00 per share of Common Stock). The conversion rate and conversion price will be subject to certain customary anti-dilution adjustments. If the closing price of the Common Stock equals or exceeds $14.50 (subject to adjustment in the same manner as the conversion price) for 45 trading days within any period of 60 consecutive trading days, the Company will have the right to cause the mandatory conversion of the Convertible Notes into shares of Common Stock. In the event of certain fundamental transactions, the Buyers will have the right, within a period of 30 days following the occurrence of such transaction (“Holder Fundamental Transaction Election Period”), to elect to either require prepayment of the Convertible Notes at par plus accrued and unpaid interest or convert all or a portion of the Convertible Notes into shares of Common Stock at the conversion rate then in effect plus any additional shares based on the price per share of Common Stock in connection with the fundamental transaction, or to receive the shares of a successor entity, if any. Embedded Derivatives The Company allocated $12 million of the net proceeds received to a derivative liability based on the aggregate fair value of the embedded features on the date of issuance which reduced the net carrying value of the Convertible Notes. The derivative is being accounted for at fair value with subsequent changes in the fair value being reported as part of Other (income) charges, net in the Consolidated Statement of Operations. The fair value of the Convertible Notes embedded derivative at both September 30, 2022 December 31, 2021 19, The carrying value of the Convertible Notes at September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 September 30, 2022 3 |
Note 6 - Redeemable, Convertibl
Note 6 - Redeemable, Convertible Preferred Stock | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Temporary Equity Disclosure [Text Block] | NOTE 6: Redeemable convertible preferred stock was as follows: September 30, December 31, (in millions) 2022 2021 Series B preferred stock $ 94 $ 94 Series C preferred stock 107 102 Total $ 201 $ 196 Series B Preferred Stock On February 26, 2021 one million C2W one one Dividends The holders of Series B Preferred Stock are entitled to cumulative dividends payable quarterly in cash at a rate of 4.0% per annum. Dividends owed on the Series B Preferred Stock have been declared and paid when due. Conversion Features Each share of Series B Preferred Stock is convertible, at the option of each holder at any time, into shares of Common Stock at the initial conversion rate of 9.5238 shares of Common Stock for each share of Series B Preferred Stock (equivalent to an initial conversion price of $10.50 per share of Common Stock). The initial conversion rate and the corresponding conversion price will be subject to certain customary anti-dilution adjustments. If a holder elects to convert any shares of Series B Preferred Stock during a specified period in connection with a fundamental change (as defined in the Series B Certificate of Designations), such holder can elect to have the conversion rate adjusted and can elect to receive a cash payment in lieu of shares for a portion of the shares. Such holder will also be entitled to a payment in respect of accumulated dividends. In addition, the Company will have the right to require holders to convert any shares of Series B Preferred Stock in connection with certain reorganization events in which case the conversion rate will be adjusted, subject to certain limitations. The Company will have the right to cause the mandatory conversion of the Series B Preferred Stock into shares of Common Stock at any time after the initial issuance of the Series B Preferred Stock if the closing price of the Common Stock has equaled or exceeded $14.50 (subject to adjustment in the same manner as the conversion price) for 45 trading days within a period of 60 consecutive trading days. Embedded Conversion Features The Company allocated $1 million to the derivative liability based on the aggregate fair value of the embedded conversion feature on the date of issuance which reduced the original carrying value of the Series B Preferred Stock. The derivative is being accounted for at fair value with subsequent changes in the fair value being reported as part of Other (income) charges, net in the Consolidated Statement of Operations. The fair value of the Series B Preferred Stock embedded derivative as of both September 30, 2022 December 31, 2021 19, The carrying value of the Series B Preferred Stock is being accreted to the mandatory redemption amount using the effective interest method to Additional paid in capital in the Consolidated Statement of Financial Position as a deemed dividend from the date of issuance through the mandatory redemption date, May 28, 2026. Series C Preferred Stock Purchase Agreement On February 26, 2021, Dividends The holders of Series C Preferred Stock are entitled to cumulative dividends payable quarterly “in‐kind” in the form of additional shares of Series C Preferred Stock at a rate of 5.0% per annum. Dividends owed on the Series C Preferred Stock have been declared and additional Series C shares issued when due. Holders of the Series C Preferred Stock are also entitled to participate in any dividends paid on the Common Stock (other than stock dividends) on an as-converted basis, with such dividends on any shares of the Series C Preferred Stock being payable upon conversion of such shares of Series C Preferred Stock to Common Stock. Conversion Features Each share of Series C Preferred Stock is convertible, at the option of each holder at any time, into shares of Common Stock at the initial conversion price of $10 per share of Common Stock. The initial conversion price and the corresponding conversion rate will be subject to certain customary anti-dilution adjustments and to proportional increase in the event the liquidation preference of the Series C Preferred Stock is automatically increased as described above. If a holder elects to convert any shares of Series C Preferred Stock during a specified period in connection with a fundamental change (as defined in the Series C Certificate of Designations), such holder can elect to have the conversion rate adjusted and can elect to receive a cash payment in lieu of shares for a portion of the shares of Common Stock. Such holder will also be entitled to a payment in respect of accumulated dividends and a payment based on the present value of all required remaining dividend payments through May 28, 2026, The Company will have the right to cause the mandatory conversion of the Series C Preferred Stock into shares of Common Stock (i) at any time after February 26, 2023 February 26, 2024 Embedded Conversion Features The Company allocated $2 million of the net proceeds received to the derivative liability based on the aggregate fair value of the embedded conversion features on the dates of issuance which reduced the original carrying value of the Series C Preferred Stock. The derivative is being accounted for at fair value with subsequent changes in the fair value being reported as part of Other (income) charges, net in the Consolidated Statement of Operations. The fair value of the Series C Preferred Stock derivative as of September 30, 2022 December 31, 2021 19, The carrying value of the Series C Preferred Stock is being accreted to the mandatory redemption amount using the effective interest method to Additional paid in capital in the Consolidated Statement of Financial Position as a deemed dividend from the date of issuance through the mandatory redemption date. |
Note 7 - Leases
Note 7 - Leases | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Leases as Lessee and Lessor Disclosure[Text Block] | NOTE 7: Income recognized on operating lease arrangements for the three nine September 30, 2022 2021 three nine September 30, 2022 three nine September 30, 2021 Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Lease income - operating leases: Lease income $ 2 $ 2 $ 7 $ 6 Variable lease income 2 1 4 3 Total lease income $ 4 $ 3 $ 11 $ 9 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 8: As of September 30, 2022, Kodak’s Brazilian operations are involved in various litigation matters in Brazil and have received or been the subject of numerous governmental assessments related to indirect and other taxes in various stages of litigation, as well as civil litigation and disputes associated with former employees and contract labor. The tax matters, which comprise the majority of the litigation matters, are primarily related to federal and state value-added taxes. Kodak’s Brazilian operations are disputing these matters and intend to vigorously defend its position. Kodak routinely assesses all these matters as to the probability of ultimately incurring a liability in its Brazilian operations and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable. As of September 30, 2022, may In connection with assessments in Brazil, local regulations may September 30, 2022, On August 13, 2020 August 26, 2020 July 28, 2020. June 22, 2021. August 2, 2021, October 1, 2021 December 14, 2021. February 28, 2022, April 6, 2022. August 3, 2022, September 28, 2022. October 27, 2022. The Company has also received five May 19, 2021 one August 23, 2021, October 22, 2021. March 17, 2022, On September 2, 2021 one one October 4, 2021 10 January 18, 2022, February 16, 2022, April 15, 2022. September 30, 2022. Additional shareholder derivative lawsuits may no not 8‐K September 16, 2020. first not 10 not no second may The DFC Announcement has also prompted investigations by several congressional committees, the SEC and the New York Attorney General’s office. The Company has cooperated in those investigations. As previously reported, the Attorney General of the State of New York (the “NYAG”) has threatened to file a lawsuit against the Company and its Chief Executive Officer alleging violations of New York State’s Martin Act (the “Threatened Claim”). In connection with the Threatened Claim, on June 15, 2021 October 8, 2021 October 1, 2021, 2022, not not In addition, Kodak is involved in various lawsuits, claims, investigations, remediations and proceedings, including, from time to time, commercial, customs, employment, environmental, tort and health and safety matters, which are being handled and defended in the ordinary course of business. Kodak is also subject, from time to time, to various assertions, claims, proceedings and requests for indemnification concerning intellectual property, including patent infringement suits involving technologies that are incorporated in a broad spectrum of Kodak’s products. These matters are in various stages of investigation and litigation and are being vigorously defended. Based on information currently available, Kodak does not |
Note 9 - Guarantees
Note 9 - Guarantees | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Guarantees [Text Block] | NOTE 9: In connection with the settlement of certain of the Company’s historical environmental liabilities at Eastman Business Park, a more than 1,200-acre technology center and industrial complex in Rochester, New York, in the event the historical liabilities exceed $99 million, the Company will become liable for 50% of the portion above $99 no Extended Warranty Arrangements Kodak offers its customers extended warranty arrangements that are generally one may three six December 31, 2021 September 30, 2022 (in millions) Deferred revenue on extended warranties as of December 31, 2021 $ 19 New extended warranty and maintenance arrangements deferred 66 Recognition of extended warranty and maintenance arrangement revenue (67 ) Deferred revenue on extended warranties as of September 30, 2022 $ 18 |
Note 10 - Revenue
Note 10 - Revenue | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 10: Disaggregation of Revenue The following tables present revenue disaggregated by major product, portfolio summary and geography Major Product Three Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Plates, inks and other consumables $ 139 $ 15 $ 6 $ — $ — $ 160 Ongoing service arrangements (1) 19 31 4 — — 54 Total annuities 158 46 10 — — 214 Equipment & software 11 9 — — — 20 Film and chemicals — — 47 — — 47 Other (2) — — 1 3 4 8 Total $ 169 $ 55 $ 58 $ 3 $ 4 $ 289 Nine Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Plates, inks and other consumables $ 449 $ 47 $ 20 $ — $ — $ 516 Ongoing service arrangements (1) 57 99 9 — — 165 Total annuities 506 146 29 — — 681 Equipment & software 29 23 — — — 52 Film and chemicals — — 142 — — 142 Other (2) — — 2 11 12 25 Total $ 535 $ 169 $ 173 $ 11 $ 12 $ 900 Three Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Plates, inks and other consumables $ 134 $ 18 $ 7 $ — $ — $ 159 Ongoing service arrangements (1) 20 34 1 — — 55 Total annuities 154 52 8 — — 214 Equipment & software 12 6 — — — 18 Film and chemicals — — 47 — — 47 Other (2) — — — 4 4 8 Total $ 166 $ 58 $ 55 $ 4 $ 4 $ 287 Nine Months Ended September 30, 2021 (in millions) Traditional Printing Digital Printing Advanced Materials and Chemicals Brand All Other Total Plates, inks and other consumables $ 389 $ 50 $ 17 $ — $ — $ 456 Ongoing service arrangements (1) 60 103 4 — — 167 Total annuities 449 153 21 — — 623 Equipment & software 34 31 — — — 65 Film and chemicals — — 133 — — 133 Other (2) — — 1 10 11 22 Total $ 483 $ 184 $ 155 $ 10 $ 11 $ 843 ( 1 Service revenue in the Consolidated Statement of Operations includes the ongoing service revenue shown above as well as one ( 2 Other includes revenue from non-recurring engineering services, tenant rent and related property management services and licensing. Product Portfolio Summary: Three Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 61 $ 32 $ 1 $ — $ — $ 94 Strategic other businesses (2) 108 14 57 3 4 186 Planned declining businesses (3) — 9 — — — 9 Total $ 169 $ 55 $ 58 $ 3 $ 4 $ 289 Nine Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 198 $ 97 $ 2 $ — $ — $ 297 Strategic other businesses (2) 337 40 171 11 12 571 Planned declining businesses (3) — 32 — — — 32 Total $ 535 $ 169 $ 173 $ 11 $ 12 $ 900 Three Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 56 $ 32 $ — $ — $ — $ 88 Strategic other businesses (2) 110 14 55 4 4 187 Planned declining businesses (3) — 12 — — — 12 Total $ 166 $ 58 $ 55 $ 4 $ 4 $ 287 Nine Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 156 $ 105 $ — $ — $ — $ 261 Strategic other businesses (2) 327 42 155 10 11 545 Planned declining businesses (3) — 37 — — — 37 Total $ 483 $ 184 $ 155 $ 10 $ 11 $ 843 ( 1 Growth engines consist of Sonora in the Traditional Printing segment, PROSPER and Software in the Digital Printing segment, and Advanced Materials and Functional Printing in the Advanced Materials and Chemicals segment, excluding intellectual property (“IP”) licensing. ( 2 Strategic other businesses include plates (excluding Sonora plates) and Computer to Plate (“CTP”) equipment and related service in the Traditional Printing segment; Nexpress and related toner business in the Digital Printing segment and Motion Picture and Industrial Film and Chemicals (including external inks) and IP licensing in the Advanced Materials and Chemicals segment; the Brand segment and All Other. ( 3 Planned declining businesses are product lines where the decision has been made to stop new product development and manage an orderly expected decline in the installed product and annuity base or are otherwise not Geography ( 1 Three Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 42 $ 26 $ 44 $ 3 $ 4 $ 119 Canada 3 2 — — — 5 North America 45 28 44 3 4 124 Europe, Middle East and Africa 76 19 6 — — 101 Asia Pacific 40 8 8 — — 56 Latin America 8 — — — — 8 Total $ 169 $ 55 $ 58 $ 3 $ 4 $ 289 Nine Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 122 $ 81 $ 130 $ 11 $ 12 $ 356 Canada 9 6 1 — — 16 North America 131 87 131 11 12 372 Europe, Middle East and Africa 258 57 15 — — 330 Asia Pacific 123 23 27 — — 173 Latin America 23 2 — — — 25 Total $ 535 $ 169 $ 173 $ 11 $ 12 $ 900 Three Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 36 $ 25 $ 40 $ 4 $ 4 $ 109 Canada 3 2 — — — 5 North America 39 27 40 4 4 114 Europe, Middle East and Africa 75 21 4 — — 100 Asia Pacific 44 9 11 — — 64 Latin America 8 1 — — — 9 Total $ 166 $ 58 $ 55 $ 4 $ 4 $ 287 Nine Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 101 $ 78 $ 111 $ 10 $ 11 $ 311 Canada 9 7 1 — — 17 North America 110 85 112 10 11 328 Europe, Middle East and Africa 219 62 12 — — 293 Asia Pacific 132 34 31 — — 197 Latin America 22 3 — — — 25 Total $ 483 $ 184 $ 155 $ 10 $ 11 $ 843 ( 1 Sales are reported in the geographic area in which they originate. Contract Balances The timing of revenue recognition, billings and cash collections results in billed trade receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the Consolidated Statement of Financial Position. The contract assets are transferred to trade receivables when the rights to consideration become unconditional. The amount recorded for contract assets at September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Revenue recognized for the three nine September 30, 2022 2021 2022 2021 September 30, 2022 three nine September 30, 2022 September 30, 2021 three nine September 30, 2021 Kodak does not one one September 30, 2022 2022 2023 two 2024 2025 |
Note 11 - Other Operating Expen
Note 11 - Other Operating Expense (Income) | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Other Operating Income and Expense [Text Block] | NOTE 11: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Expense (income): Legal settlements $ — $ — $ — $ (7 ) Loss on sale of assets — 1 — 1 Total $ — $ 1 $ — $ (6 ) |
Note 12 - Other (Income) Charge
Note 12 - Other (Income) Charges | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | NOTE 12: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Change in fair value of embedded conversion features derivative liability (1) $ — $ (3 ) $ (1 ) $ (3 ) Loss on foreign exchange transactions — 1 2 2 Other — — 1 — Total $ — $ (2 ) $ 2 $ (1 ) ( 1 Refer to Note 19, |
Note 13 - Income Taxes
Note 13 - Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 13: Kodak’s income tax provision and effective tax rate were as follows: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Earnings from operations before income taxes $ 3 $ 9 $ 21 $ 35 Effective tax rate 33.3 % 11.1 % 9.5 % 14.3 % Provision for income taxes 1 1 2 5 Provision for income taxes at U.S. statutory tax rate 1 2 4 7 Difference between tax at effective vs. statutory rate $ — $ (1 ) $ (2 ) $ (2 ) For the three September 30, 2022 1 2 3 4 For the nine September 30, 2022 1 2 3 4 During the quarter ended March 31, 2022, 2015 2018. For the three September 30, 2021 1 2 3 For the nine September 30, 2021 1 2 3 4 During the quarter ended March 31, 2021, 2014. |
Note 14 - Retirement Plans and
Note 14 - Retirement Plans and Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 14: Components of the net periodic benefit cost for all major U.S. and non-U.S. defined benefit plans are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Major defined benefit plans: Service cost $ 3 $ — $ 3 $ 1 $ 9 $ 2 $ 8 $ 3 Interest cost 24 2 12 2 56 6 36 4 Expected return on plan assets (45 ) (3 ) (42 ) (4 ) (133 ) (10 ) (126 ) (11 ) Amortization of: Prior service credit — — (2 ) — (3 ) — (5 ) — Actuarial loss — 3 7 2 — 8 22 6 Net pension (income) expense before special termination benefits (18 ) 2 (22 ) 1 (71 ) 6 (65 ) 2 Special termination benefits 1 — — — 1 — — — Total net pension (income) expense $ (17 ) $ 2 $ (22 ) $ 1 $ (70 ) $ 6 $ (65 ) $ 2 The special termination benefits were incurred as a result of Kodak's restructuring actions and have been included in Restructuring costs and other in the Consolidated Statement of Operations for that period. The Kodak Retirement Income Plan (“KRIP”) was remeasured on May 31, 2022 January 1, 2022. one As a result of the remeasurement, KRIP’s projected benefit obligation decreased $345 million primarily driven by an increase in the discount rate ($376 million) partially offset by the impacts from the plan amendments ($28 million) and changes in other demographic assumptions ($3 million). The discount rate assumption used in the May 31, 2022 December 31, 2021 May 31, 2022 |
Note 15 - Earning Per Share
Note 15 - Earning Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 15: Basic earnings per share computations are based on the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share computations include any dilutive effect of potential common shares. In periods with a net loss available to common shareholders, diluted earnings per share are calculated using weighted-average basic shares for that period, as utilizing diluted shares would be anti-dilutive to loss per share. A reconciliation of the amounts used to calculate basic and diluted earnings per share for the three nine September 30, 2022 2021 Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Net income $ 2 $ 8 $ 19 $ 30 Less: Preferred stock cash dividends (1 ) (1 ) (3 ) (4 ) Less: Preferred stock in-kind dividends (2 ) (1 ) (4 ) (3 ) Less: Preferred stock deemed dividends — (1 ) (1 ) (3 ) Plus: Expiration of Series A preferred stock embedded derivative — — — 11 Less: Earnings attributable to Series C Preferred shareholders — — (2 ) — Net (loss) income available to common shareholders - basic and diluted $ (1 ) $ 5 $ 9 $ 31 Three Months Ended Nine Months Ended September 30, September 30, (in millions of shares) 2022 2021 2022 2021 Weighted average shares — basic 79.0 78.6 78.9 78.3 Effect of dilutive securities Employee stock options — 1.9 1.2 2.1 Unvested restricted stock units — 0.1 0.6 0.1 Weighted average shares — diluted 79.0 80.6 80.7 80.5 As a result of the net loss available to common shareholders for the three September 30, 2022 three September 30, 2022 The computation of diluted earnings per share for the three nine September 30, 2022 1 2021, 2 3 4 The computation of diluted earnings per share for the three nine September 30, 2021 1 2021, 2 3 4 5 |
Note 16 - Shareholders' Equity
Note 16 - Shareholders' Equity | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 16: EQUITY The Company has 560 million shares of authorized stock, consisting of: (i) 500 million shares of common stock, par value $0.01 per share and (ii) 60 million shares of preferred stock, no one Common Stock As of September 30, 2022 December 31, 2021 Preferred Stock Preferred stock issued and outstanding as of September 30, 2022 December 31, 2021 Treasury Stock Treasury stock consisted of approximately 0.9 million and 0.8 million shares as of September 30, 2022 December 31, 2021 |
Note 17 - Other Comprehensive I
Note 17 - Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 17: The changes in Other comprehensive income (loss), by component, were as follows: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Currency translation adjustments $ (1 ) $ — $ (6 ) $ 3 Pension and other postretirement benefit plan changes Newly established net actuarial gain (loss) — — 109 (1 ) Tax Provision — — — — Newly established net actuarial gain (loss), net of tax — — 109 (1 ) Reclassification adjustments: Amortization of prior service credit (1) (1 ) (2 ) (4 ) (6 ) Amortization of actuarial losses (1) 3 9 7 28 Total reclassification adjustments 2 7 3 22 Tax provision — — — — Reclassification adjustments, net of tax 2 7 3 22 Pension and other postretirement benefit plan changes, net of tax 2 7 112 21 Other comprehensive income $ 1 $ 7 $ 106 $ 24 ( 1 Reclassified to Total Net Periodic Benefit Cost - refer to Note 14, |
Note 18 - Segment Information
Note 18 - Segment Information | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 18: Kodak has four Traditional Printing Digital Printing Advanced Materials and Chemicals: Brand All Other Segment financial information is shown below: Segment Revenues Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Traditional Printing $ 169 $ 166 $ 535 $ 483 Digital Printing 55 58 169 184 Advanced Materials and Chemicals 58 55 173 155 Brand 3 4 11 10 All Other 4 4 12 11 Consolidated total $ 289 $ 287 $ 900 $ 843 Segment Operational EBITDA and Consolidated Earnings from Operations Before Income Taxes Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Traditional Printing $ 7 $ 5 $ 15 $ 16 Digital Printing (6 ) (2 ) (15 ) (2 ) Advanced Materials and Chemicals 3 — 1 (3 ) Brand 3 3 10 8 Total of reportable segments 7 6 11 19 All other 1 — 2 1 Depreciation and amortization (8 ) (7 ) (22 ) (23 ) Restructuring costs and other (3 ) — (3 ) (1 ) Stock based compensation (1 ) (2 ) (4 ) (6 ) Consulting and other costs (1) (2 ) (4 ) (7 ) (13 ) Idle costs (2) (1 ) (1 ) (2 ) (2 ) Other operating (expense) income, net (3) — (1 ) — 6 Interest expense (3) (10 ) (9 ) (29 ) (23 ) Pension income excluding service cost component (3) 20 25 77 76 Other income (charges), net (3) — 2 (2 ) 1 Consolidated earnings from operations before income taxes $ 3 $ 9 $ 21 $ 35 ( 1 Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. ( 2 Consists of third not ( 3 As reported in the Consolidated Statement of Operations. Kodak decreased workers’ compensation reserves by approximately $5 million and $13 million in the three nine September 30, 2022 three September 30, 2022 nine September 30, 2022 Kodak decreased workers’ compensation reserves by approximately $1 million and $4 million in the three nine September 30, 2021 three nine September 30, 2021 not three September 30, 2021 nine September 30, 2021 Segment Measure of Profit and Loss Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). As demonstrated in the above table, Operational EBITDA represents the earnings from operations excluding the provision for income taxes; non-service cost components of pension and other postemployment benefits (“OPEB”) income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating (expense) income, net (unless otherwise indicated); interest expense and other income (charges), net. Kodak’s segments are measured using Operational EBITDA both before and after allocation of corporate SG&A. The segment earnings measure reported is after allocation of corporate SG&A as this most closely aligns with U.S. GAAP. Research and Development activities not |
Note 19 - Financial Instruments
Note 19 - Financial Instruments | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 19: Kodak, as a result of its global operating and financing activities, is exposed to changes in foreign currency exchange rates and interest rates, which may not Kodak’s foreign currency forward contracts are not September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 The net effect of foreign currency forward contracts in the results of operations is shown in the following table: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Net loss (gain) from derivatives not designated as hedging instruments $ 6 $ (1 ) $ 16 $ 1 Kodak had no derivatives designated as hedging instruments for the three nine September 30, 2022 2021 In the event of a default under the Company’s Credit Agreements, or a default under any derivative contract or similar obligation of Kodak, subject to certain minimum thresholds, the derivative counterparties would have the right, although not The Company concluded that the 2021 not not September 30, 2022 December 31, 2021 The Company concluded that the Series B Preferred Stock and the Series C Preferred Stock are considered more akin to a debt-type instrument and that the economic characteristics and risks of the conversion in the event of a Fundamental Change is not September 30, 2022 December 31, 2021 Fair Value Fair values of Kodak’s foreign currency forward contracts are determined using observable inputs (Level 2 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Transfers between levels of the fair value hierarchy are recognized based on the actual date of the event or change in circumstances that caused the transfer. There were no three nine September 30, 2022 The fair value of the embedded conversion features derivatives was calculated using unobservable inputs (Level 3 The following tables present the key inputs in the determination of fair value for the embedded conversion features: 2021 Valuation Date September 30, December 31, 2022 2021 Total value of embedded derivative liability ($ millions) $ 4 $ 4 Kodak's closing stock price $ 4.59 $ 4.68 Expected stock price volatility 50.00 % 36.00 % Risk free rate 4.19 % 1.17 % Implied credit spread on the Convertible Notes 27.27 % 18.89 % Series B Preferred Stock: Valuation Date September 30, December 31, 2022 2021 Total value of embedded derivative liability ($ millions) $ 1 $ 1 Kodak's closing stock price $ 4.59 $ 4.68 Expected stock price volatility 50.00 % 36.00 % Risk free rate 4.19 % 1.17 % Implied credit spread on the preferred stock 28.27 % 19.39 % Series C Preferred Stock: Valuation Date September 30, December 31, 2022 2021 Total value of embedded derivative liability ($ millions) $ 1 $ 2 Kodak's closing stock price $ 4.59 $ 4.68 Expected stock price volatility 50.00 % 36.00 % Risk free rate 4.19 % 1.17 % Implied credit spread on the preferred stock 30.27 % 21.39 % The Fundamental Change values at issuance were calculated as the difference between the total value of the Convertible Notes, Series B or Series C Preferred Stock, as applicable, and the sum of the net present value of the cash flows if the Convertible Notes are repaid at their maturity date or Series B and Series C Preferred Stock are redeemed on their redemption date and the values of the other embedded derivatives. The Fundamental Change values reduce the value of the embedded conversion features derivative liability. Other than events that alter the likelihood of a fundamental change or reorganization event, the value of the Fundamental Change reflects the value as of the issuance date, amortized for the passage of time. The fair values of long-term debt (Level 2 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | BASIS OF PRESENTATION The consolidated interim financial statements are unaudited, and certain information and footnote disclosures related thereto normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted in accordance with the instructions to Form 10 10 01 X. not 10 December 31, 2021 2021 10 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification Certain amounts from previous periods have been reclassified to conform to the current period classification in the disaggregated revenue information for the Digital Printing segment. |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In June 2016, 2016 13, 326 2016 13 2018 19, 2019 04, 2019 05, 2019 10, 2019 11, 2020 02, 2020 03 2022 02 January 1, 2023, |
Note 2 - Cash, Cash Equivalen_2
Note 2 - Cash, Cash Equivalents and Restricted Cash (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Cash and Cash Equivalents [Table Text Block] | September 30, December 31, (in millions) 2022 2021 Cash and cash equivalents $ 216 $ 362 Restricted cash reported in Other current assets 7 7 Restricted cash 57 54 Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows $ 280 $ 423 |
Note 3 - Inventories, Net (Tabl
Note 3 - Inventories, Net (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, (in millions) 2022 2021 Finished goods $ 123 $ 94 Work in process 71 65 Raw materials 79 60 Total $ 273 $ 219 |
Note 4 - Other Long-term Asse_2
Note 4 - Other Long-term Assets (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Other Assets, Noncurrent [Table Text Block] | September 30, December 31, (in millions) 2022 2021 Preferred equity investment $ 25 $ — Estimated workers' compensation recoveries 14 18 Long-term receivables 10 11 Other 26 26 Total $ 75 $ 55 |
Note 5 - Debt and Finance Lea_2
Note 5 - Debt and Finance Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Debt And Capital Lease Obligations [Table Text Block] | Weighted-Average September 30, December 31, (in millions) Type Maturity Effective Interest Rate 2022 2021 Current portion: RED-Rochester, LLC 2033 11.48 % $ 1 $ 1 1 1 Non-current portion: Term loans 2026 13.78 % 282 224 Convertible debt 2026 17.38 % 17 15 RED-Rochester, LLC 2033 11.48 % 12 12 Finance leases Various Various — 1 Other debt Various Various 1 1 312 253 $ 313 $ 254 |
Schedule of Maturities of Debt and Finance Leases Outstanding [Table Text Block] | Carrying Maturity Value Value Q4 2022 $ — $ — 2023 2 2 2024 1 1 2025 1 1 2026 300 367 2027 and thereafter 9 9 Total $ 313 $ 380 |
Note 6 - Redeemable, Converti_2
Note 6 - Redeemable, Convertible Preferred Stock (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Temporary Equity [Table Text Block] | September 30, December 31, (in millions) 2022 2021 Series B preferred stock $ 94 $ 94 Series C preferred stock 107 102 Total $ 201 $ 196 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Operating Lease, Lease Income [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Lease income - operating leases: Lease income $ 2 $ 2 $ 7 $ 6 Variable lease income 2 1 4 3 Total lease income $ 4 $ 3 $ 11 $ 9 |
Note 9 - Guarantees (Tables)
Note 9 - Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | (in millions) Deferred revenue on extended warranties as of December 31, 2021 $ 19 New extended warranty and maintenance arrangements deferred 66 Recognition of extended warranty and maintenance arrangement revenue (67 ) Deferred revenue on extended warranties as of September 30, 2022 $ 18 |
Note 10 - Revenue (Tables)
Note 10 - Revenue (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Plates, inks and other consumables $ 139 $ 15 $ 6 $ — $ — $ 160 Ongoing service arrangements (1) 19 31 4 — — 54 Total annuities 158 46 10 — — 214 Equipment & software 11 9 — — — 20 Film and chemicals — — 47 — — 47 Other (2) — — 1 3 4 8 Total $ 169 $ 55 $ 58 $ 3 $ 4 $ 289 Nine Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Plates, inks and other consumables $ 449 $ 47 $ 20 $ — $ — $ 516 Ongoing service arrangements (1) 57 99 9 — — 165 Total annuities 506 146 29 — — 681 Equipment & software 29 23 — — — 52 Film and chemicals — — 142 — — 142 Other (2) — — 2 11 12 25 Total $ 535 $ 169 $ 173 $ 11 $ 12 $ 900 Three Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Plates, inks and other consumables $ 134 $ 18 $ 7 $ — $ — $ 159 Ongoing service arrangements (1) 20 34 1 — — 55 Total annuities 154 52 8 — — 214 Equipment & software 12 6 — — — 18 Film and chemicals — — 47 — — 47 Other (2) — — — 4 4 8 Total $ 166 $ 58 $ 55 $ 4 $ 4 $ 287 Nine Months Ended September 30, 2021 (in millions) Traditional Printing Digital Printing Advanced Materials and Chemicals Brand All Other Total Plates, inks and other consumables $ 389 $ 50 $ 17 $ — $ — $ 456 Ongoing service arrangements (1) 60 103 4 — — 167 Total annuities 449 153 21 — — 623 Equipment & software 34 31 — — — 65 Film and chemicals — — 133 — — 133 Other (2) — — 1 10 11 22 Total $ 483 $ 184 $ 155 $ 10 $ 11 $ 843 Three Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 61 $ 32 $ 1 $ — $ — $ 94 Strategic other businesses (2) 108 14 57 3 4 186 Planned declining businesses (3) — 9 — — — 9 Total $ 169 $ 55 $ 58 $ 3 $ 4 $ 289 Nine Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 198 $ 97 $ 2 $ — $ — $ 297 Strategic other businesses (2) 337 40 171 11 12 571 Planned declining businesses (3) — 32 — — — 32 Total $ 535 $ 169 $ 173 $ 11 $ 12 $ 900 Three Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 56 $ 32 $ — $ — $ — $ 88 Strategic other businesses (2) 110 14 55 4 4 187 Planned declining businesses (3) — 12 — — — 12 Total $ 166 $ 58 $ 55 $ 4 $ 4 $ 287 Nine Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total Growth engines (1) $ 156 $ 105 $ — $ — $ — $ 261 Strategic other businesses (2) 327 42 155 10 11 545 Planned declining businesses (3) — 37 — — — 37 Total $ 483 $ 184 $ 155 $ 10 $ 11 $ 843 Three Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 42 $ 26 $ 44 $ 3 $ 4 $ 119 Canada 3 2 — — — 5 North America 45 28 44 3 4 124 Europe, Middle East and Africa 76 19 6 — — 101 Asia Pacific 40 8 8 — — 56 Latin America 8 — — — — 8 Total $ 169 $ 55 $ 58 $ 3 $ 4 $ 289 Nine Months Ended September 30, 2022 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 122 $ 81 $ 130 $ 11 $ 12 $ 356 Canada 9 6 1 — — 16 North America 131 87 131 11 12 372 Europe, Middle East and Africa 258 57 15 — — 330 Asia Pacific 123 23 27 — — 173 Latin America 23 2 — — — 25 Total $ 535 $ 169 $ 173 $ 11 $ 12 $ 900 Three Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 36 $ 25 $ 40 $ 4 $ 4 $ 109 Canada 3 2 — — — 5 North America 39 27 40 4 4 114 Europe, Middle East and Africa 75 21 4 — — 100 Asia Pacific 44 9 11 — — 64 Latin America 8 1 — — — 9 Total $ 166 $ 58 $ 55 $ 4 $ 4 $ 287 Nine Months Ended September 30, 2021 Advanced Materials Traditional Digital and (in millions) Printing Printing Chemicals Brand All Other Total United States $ 101 $ 78 $ 111 $ 10 $ 11 $ 311 Canada 9 7 1 — — 17 North America 110 85 112 10 11 328 Europe, Middle East and Africa 219 62 12 — — 293 Asia Pacific 132 34 31 — — 197 Latin America 22 3 — — — 25 Total $ 483 $ 184 $ 155 $ 10 $ 11 $ 843 |
Note 11 - Other Operating Exp_2
Note 11 - Other Operating Expense (Income) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Expense (income): Legal settlements $ — $ — $ — $ (7 ) Loss on sale of assets — 1 — 1 Total $ — $ 1 $ — $ (6 ) |
Note 12 - Other (Income) Char_2
Note 12 - Other (Income) Charges (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Other Nonoperating Income, by Component [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Change in fair value of embedded conversion features derivative liability (1) $ — $ (3 ) $ (1 ) $ (3 ) Loss on foreign exchange transactions — 1 2 2 Other — — 1 — Total $ — $ (2 ) $ 2 $ (1 ) |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Earnings from operations before income taxes $ 3 $ 9 $ 21 $ 35 Effective tax rate 33.3 % 11.1 % 9.5 % 14.3 % Provision for income taxes 1 1 2 5 Provision for income taxes at U.S. statutory tax rate 1 2 4 7 Difference between tax at effective vs. statutory rate $ — $ (1 ) $ (2 ) $ (2 ) |
Note 14 - Retirement Plans an_2
Note 14 - Retirement Plans and Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Major defined benefit plans: Service cost $ 3 $ — $ 3 $ 1 $ 9 $ 2 $ 8 $ 3 Interest cost 24 2 12 2 56 6 36 4 Expected return on plan assets (45 ) (3 ) (42 ) (4 ) (133 ) (10 ) (126 ) (11 ) Amortization of: Prior service credit — — (2 ) — (3 ) — (5 ) — Actuarial loss — 3 7 2 — 8 22 6 Net pension (income) expense before special termination benefits (18 ) 2 (22 ) 1 (71 ) 6 (65 ) 2 Special termination benefits 1 — — — 1 — — — Total net pension (income) expense $ (17 ) $ 2 $ (22 ) $ 1 $ (70 ) $ 6 $ (65 ) $ 2 |
Note 15 - Earning Per Share (Ta
Note 15 - Earning Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Net income $ 2 $ 8 $ 19 $ 30 Less: Preferred stock cash dividends (1 ) (1 ) (3 ) (4 ) Less: Preferred stock in-kind dividends (2 ) (1 ) (4 ) (3 ) Less: Preferred stock deemed dividends — (1 ) (1 ) (3 ) Plus: Expiration of Series A preferred stock embedded derivative — — — 11 Less: Earnings attributable to Series C Preferred shareholders — — (2 ) — Net (loss) income available to common shareholders - basic and diluted $ (1 ) $ 5 $ 9 $ 31 Three Months Ended Nine Months Ended September 30, September 30, (in millions of shares) 2022 2021 2022 2021 Weighted average shares — basic 79.0 78.6 78.9 78.3 Effect of dilutive securities Employee stock options — 1.9 1.2 2.1 Unvested restricted stock units — 0.1 0.6 0.1 Weighted average shares — diluted 79.0 80.6 80.7 80.5 |
Note 17 - Other Comprehensive_2
Note 17 - Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Currency translation adjustments $ (1 ) $ — $ (6 ) $ 3 Pension and other postretirement benefit plan changes Newly established net actuarial gain (loss) — — 109 (1 ) Tax Provision — — — — Newly established net actuarial gain (loss), net of tax — — 109 (1 ) Reclassification adjustments: Amortization of prior service credit (1) (1 ) (2 ) (4 ) (6 ) Amortization of actuarial losses (1) 3 9 7 28 Total reclassification adjustments 2 7 3 22 Tax provision — — — — Reclassification adjustments, net of tax 2 7 3 22 Pension and other postretirement benefit plan changes, net of tax 2 7 112 21 Other comprehensive income $ 1 $ 7 $ 106 $ 24 |
Note 18 - Segment Information (
Note 18 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Traditional Printing $ 169 $ 166 $ 535 $ 483 Digital Printing 55 58 169 184 Advanced Materials and Chemicals 58 55 173 155 Brand 3 4 11 10 All Other 4 4 12 11 Consolidated total $ 289 $ 287 $ 900 $ 843 Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Traditional Printing $ 7 $ 5 $ 15 $ 16 Digital Printing (6 ) (2 ) (15 ) (2 ) Advanced Materials and Chemicals 3 — 1 (3 ) Brand 3 3 10 8 Total of reportable segments 7 6 11 19 All other 1 — 2 1 Depreciation and amortization (8 ) (7 ) (22 ) (23 ) Restructuring costs and other (3 ) — (3 ) (1 ) Stock based compensation (1 ) (2 ) (4 ) (6 ) Consulting and other costs (1) (2 ) (4 ) (7 ) (13 ) Idle costs (2) (1 ) (1 ) (2 ) (2 ) Other operating (expense) income, net (3) — (1 ) — 6 Interest expense (3) (10 ) (9 ) (29 ) (23 ) Pension income excluding service cost component (3) 20 25 77 76 Other income (charges), net (3) — 2 (2 ) 1 Consolidated earnings from operations before income taxes $ 3 $ 9 $ 21 $ 35 |
Note 19 - Financial Instrumen_2
Note 19 - Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2022 2021 2022 2021 Net loss (gain) from derivatives not designated as hedging instruments $ 6 $ (1 ) $ 16 $ 1 |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Valuation Date September 30, December 31, 2022 2021 Total value of embedded derivative liability ($ millions) $ 4 $ 4 Kodak's closing stock price $ 4.59 $ 4.68 Expected stock price volatility 50.00 % 36.00 % Risk free rate 4.19 % 1.17 % Implied credit spread on the Convertible Notes 27.27 % 18.89 % Valuation Date September 30, December 31, 2022 2021 Total value of embedded derivative liability ($ millions) $ 1 $ 1 Kodak's closing stock price $ 4.59 $ 4.68 Expected stock price volatility 50.00 % 36.00 % Risk free rate 4.19 % 1.17 % Implied credit spread on the preferred stock 28.27 % 19.39 % Valuation Date September 30, December 31, 2022 2021 Total value of embedded derivative liability ($ millions) $ 1 $ 2 Kodak's closing stock price $ 4.59 $ 4.68 Expected stock price volatility 50.00 % 36.00 % Risk free rate 4.19 % 1.17 % Implied credit spread on the preferred stock 30.27 % 21.39 % |
Note 2 - Cash, Cash Equivalen_3
Note 2 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
CHINA | Lucky Hua Guang Graphics Co Ltd [Member] | ||
Escrow Deposit | $ 5 | $ 4 |
BRAZIL | ||
Restricted Cash and Investments, Noncurrent, Total | 6 | 3 |
Cash Collateralized Letter Of Credit Facility [Member] | ||
Restricted Cash and Investments, Noncurrent, Total | $ 44 | $ 45 |
Note 2 - Note 2 - Cash, Cash Eq
Note 2 - Note 2 - Cash, Cash Equivalents and Restricted Cash - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Cash and cash equivalents | $ 216 | $ 362 | ||
Restricted cash reported in Other current assets | 7 | 7 | ||
Restricted cash | 57 | 54 | ||
Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows | $ 280 | $ 423 | $ 451 | $ 256 |
Note 3 - Inventories, Net - Sch
Note 3 - Inventories, Net - Schedule of Current Inventory (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Finished goods | $ 123 | $ 94 |
Work in process | 71 | 65 |
Raw materials | 79 | 60 |
Inventories, net | $ 273 | $ 219 |
Note 4 - Other Long-term Asse_3
Note 4 - Other Long-term Assets (Details Textual) - USD ($) $ in Millions | Sep. 30, 2022 | Jul. 13, 2022 | Dec. 31, 2021 |
Equity Securities without Readily Determinable Fair Value, Amount | $ 25 | $ 0 | |
Wildcat Discovery Technologies [Member] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 25 |
Note 4 - Other Long-term Asse_4
Note 4 - Other Long-term Assets - Other Long-term Assets (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Preferred equity investment | $ 25 | $ 0 |
Estimated workers' compensation recoveries | 14 | 18 |
Long-term receivables | 10 | 11 |
Other | 26 | 26 |
Total | $ 75 | $ 55 |
Note 5 - Debt and Finance Lea_3
Note 5 - Debt and Finance Leases (Details Textual) - USD ($) | 9 Months Ended | ||||
Jun. 15, 2022 | Feb. 26, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Proceeds from Issuance of Debt | $ 49,000,000 | $ 215,000,000 | |||
Two Thousand Twenty One Notes Embedded Derivative [Member] | |||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 12,000,000 | 4,000,000 | $ 4,000,000 | ||
Two Thousand Twenty One Convertible Debt [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5% | ||||
Debt Instrument, Face Amount | $ 25,000,000 | ||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 100 | ||||
Debt Conversion, Converted Instrument, Amount | $ 1,000 | ||||
Initial Conversion Price Per Share of Common Stock (in dollars per share) | $ 10 | ||||
Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) | $ 14.50 | ||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 60 | ||||
Holder Fundamental Transaction Election Period (Day) | 30 days | ||||
Convertible Notes Payable, Noncurrent | 17,000,000 | 15,000,000 | |||
Debt Instrument, Unamortized Discount, Total | 9,000,000 | $ 11,000,000 | |||
Convertible Debt, Fair Value Disclosures | $ 16,000,000 | ||||
Two Thousand Twenty One Convertible Debt [Member] | Minimum [Member] | |||||
Debt Instrument, Convertible, Threshold Trading Days | 45 | ||||
Term Loan Credit Agreement [Member] | |||||
Long-Term Debt, Total | $ 225,000,000 | ||||
Long Term Debt, Maximum Additional Proceeds | $ 50,000,000 | 50,000,000 | |||
Proceeds from Issuance of Debt | 49,000,000 | 215,000,000 | |||
Debt Issuance Costs, Net, Total | $ 1,000,000 | $ 10,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 12.50% | ||||
Term Loan Credit Agreement [Member] | UNITED STATES | Subsidiaries [Member] | |||||
Percentage of Material Stock | 100% | ||||
Term Loan Credit Agreement [Member] | Non-US [Member] | Subsidiaries [Member] | |||||
Percentage of Material Stock | 65% | ||||
Term Loan Credit Agreement [Member] | Term Loans [Member] | Paid In Cash Interest [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | ||||
Term Loan Credit Agreement [Member] | Term Loans [Member] | Paid In Kind Interest [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4% |
Note 5 - Debt and Finance Lea_4
Note 5 - Debt and Finance Leases - Related Maturities and Interest Rates (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Short-term borrowings and current portion of long-term debt | $ 1 | $ 1 |
Long-term debt, net of current portion | 312 | 253 |
Finance Lease, Liability, Noncurrent | 0 | 1 |
Long-Term Debt and Lease Obligation, Total | $ 313 | 254 |
Term Loans [Member] | ||
Weighted average effective interest rate | 13.78% | |
Long-term debt, net of current portion | $ 282 | 224 |
Convertible Debt [Member] | ||
Weighted average effective interest rate | 17.38% | |
Long-term debt, net of current portion | $ 17 | 15 |
Arrangements with R E D Rochester L L C [Member] | ||
Weighted average effective interest rate | 11.48% | |
Long-term debt, net of current portion | $ 12 | 12 |
Other Debt [Member] | ||
Long-term debt, net of current portion | $ 1 | 1 |
Arrangements with R E D Rochester L L C [Member] | ||
Maturity date | Dec. 31, 2023 | |
Weighted average effective interest rate | 11.48% | |
Short-term borrowings and current portion of long-term debt | $ 1 | $ 1 |
Note 5 - Debt and Finance Lea_5
Note 5 - Debt and Finance Leases - Schedule of Maturities of Debt and Finance Leases Outstanding (Details) $ in Millions | Sep. 30, 2022 USD ($) |
2023, Carrying value | $ 2 |
2023, Maturity value | 2 |
2024, Carrying value | 1 |
2024, Maturity value | 1 |
2025, Carrying value | 1 |
2025, Maturity value | 1 |
2026, Carrying value | 300 |
2026, Maturity value | 367 |
2027 and thereafter, Carrying value | 9 |
2027 and thereafter, Maturity value | 9 |
Total, Carrying value | 313 |
Total, Maturity value | $ 380 |
Note 6 - Redeemable, Converti_3
Note 6 - Redeemable, Convertible Preferred Stock (Details Textual) $ / shares in Units, $ in Millions | 9 Months Ended | ||||
Feb. 26, 2024 | Feb. 26, 2023 | Feb. 26, 2021 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | |
Preferred Stock, No Par Value (in dollars per share) | $ 0 | $ 0 | |||
Series A Preferred Stock [Member] | |||||
Temporary Equity, Liquidation Preference Per Share (in dollars per share) | 100 | $ 100 | |||
Series A Preferred Stock [Member] | Repurchase And Exchange Agreement [Member] | |||||
Stock Exchanged During Period, Shares (in shares) | shares | 1,000,000 | ||||
Series B Preferred Stock [Member] | |||||
Preferred Stock, Dividend Rate, Percentage | 4% | ||||
Preferred Stock, No Par Value (in dollars per share) | $ 0 | ||||
Temporary Equity, Fair Value of Preferred Stock at Issuance | $ | $ 95 | ||||
Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) | $ 14.50 | ||||
Debt Instrument, Convertible, Threshold Trading Days | 45 | ||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 60 | ||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ | $ 1 | ||||
Series B Preferred Stock [Member] | Other Noncurrent Liabilities [Member] | |||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ | $ 1 | $ 1 | |||
Series B Preferred Stock [Member] | Purchase Agreement [Member] | |||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | shares | 9.5238 | ||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 10.50 | ||||
Series C Preferred Stock [Member] | |||||
Debt Instrument, Convertible, Threshold Trading Days | 45 | ||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 60 | ||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ | $ 2 | ||||
Series C Preferred Stock [Member] | After February Twenty Six Two Thousand Twenty Three [Member] | Forecast [Member] | |||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 200% | ||||
Series C Preferred Stock [Member] | After February Twenty Six Two Thousand Twenty Four [Member] | Forecast [Member] | |||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 150% | ||||
Series C Preferred Stock [Member] | Other Noncurrent Liabilities [Member] | |||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ | $ 1 | $ 2 | |||
Series C Preferred Stock [Member] | Purchase Agreement [Member] | |||||
Preferred Stock, Dividend Rate, Percentage | 5% | ||||
Preferred Stock, No Par Value (in dollars per share) | $ 0 | ||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 10 | ||||
Convertible Preferred Stock, Shares Reserved for Future Issuance (in shares) | shares | 1,000,000 | ||||
Temporary Equity, Liquidation Preference Per Share (in dollars per share) | $ 100 | ||||
Gross Proceeds Owed on Issuance of PreferredStock | $ | $ 100 | ||||
Series C Preferred Stock [Member] | Dividend And Other Rights [Member] | |||||
Preferred Stock, Dividend Rate, Percentage | 5% |
Note 6 - Redeemable, Converti_4
Note 6 - Redeemable, Convertible Preferred Stock - Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference | $ 201 | $ 196 |
Series B Preferred Stock [Member] | ||
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference | 94 | 94 |
Series C Preferred Stock [Member] | ||
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference | $ 107 | $ 102 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Sales-type Lease, Lease Income, Total | $ 0 | $ 1,000 | $ 0 | $ 2,000 |
Note 7 - Leases - Summary of In
Note 7 - Leases - Summary of Income Recognized on Lease Arrangements (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Lease income - operating leases: | ||||
Lease income | $ 2 | $ 2 | $ 7 | $ 6 |
Variable lease income | 2 | 1 | 4 | 3 |
Total lease income | $ 4 | $ 3 | $ 11 | $ 9 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Dec. 31, 2021 | Jul. 28, 2020 | |
Restricted Cash, Total | $ 64 | ||
U S International Development Finance Corporation [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 765 | ||
BRAZIL | |||
Restricted Cash and Investments, Noncurrent, Total | 6 | $ 3 | |
Federal And State Value Added Taxes Litigations And Civil Litigation And Disputes With Former Employees [Member] | |||
Loss Contingency Accrual, Provision | 2 | ||
Federal And State Value Added Taxes Litigations And Civil Litigation And Disputes With Former Employees [Member] | BRAZIL | |||
Aggregate Claims | 116 | ||
Loss Contingency, Estimate of Possible Loss | 5 | ||
Threat of Expropriation of Assets [Member] | BRAZIL | |||
Restricted Cash and Investments, Noncurrent, Total | 6 | ||
Assets, Noncurrent, Total | 41 | ||
Bank Guarantees And Letters Of Credit [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 2 | ||
Surety Bond [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 29 | ||
Amended A B L Credit Agreement [Member] | |||
Long-Term Line of Credit, Total | 51 | ||
L C Facility Agreement [Member] | |||
Long-Term Line of Credit, Total | $ 43 |
Note 9 - Guarantees (Details Te
Note 9 - Guarantees (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2022 USD ($) a | |
Percentage of Liability Above 99 Million | 50% |
Warranty Arrangement Period [Member] | |
Extended Warranty Period (Year) | 1 year |
Amended EBP Settlement Agreement [Member] | |
Accrual for Environmental Loss Contingencies, Ending Balance | $ 0 |
Minimum [Member] | |
Environmental Settlement, Historical Liabilities Trigger Amount | $ 99,000 |
Extended Warranty Period (Year) | 3 months |
Maximum [Member] | |
Extended Warranty Period (Year) | 6 years |
Eastman Business Park Rochester N Y [Member] | Minimum [Member] | |
Area of Real Estate Property (Acre) | a | 1,200 |
Note 9 - Guarantees - Deferred
Note 9 - Guarantees - Deferred Revenue by Arrangement (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Deferred revenue on extended warranties as of December 31, 2021 | $ 57 | |||
Recognition of extended warranty and maintenance arrangement revenue | $ 7 | $ 9 | 36 | $ 34 |
Deferred revenue on extended warranties as of September 30, 2022 | 50 | 50 | ||
Extended Warranty Arrangements [Member] | ||||
Deferred revenue on extended warranties as of December 31, 2021 | 19 | |||
New extended warranty and maintenance arrangements deferred | 66 | |||
Recognition of extended warranty and maintenance arrangement revenue | (67) | |||
Deferred revenue on extended warranties as of September 30, 2022 | $ 18 | $ 18 |
Note 10 - Revenue 1 (Details Te
Note 10 - Revenue 1 (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Contract with Customer, Liability, Total | $ 50 | $ 50 | $ 57 | ||
Contract with Customer, Liability, Revenue Recognized | 7 | $ 9 | 36 | $ 34 | |
Contract with Customer, Cash Payments Received for Liabilities That Have Been Deferred | 19 | $ 19 | 33 | $ 26 | |
Other Current Assets [Member] | |||||
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total | 2 | 2 | 3 | ||
Other Current Liabilities [Member] | |||||
Contract with Customer, Liability, Total | 38 | 38 | 43 | ||
Other Noncurrent Liabilities [Member] | |||||
Contract with Customer, Liability, Total | $ 12 | $ 12 | $ 14 |
Note 10 - Revenue 2 (Details Te
Note 10 - Revenue 2 (Details Textual) $ in Millions | Sep. 30, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 60 |
Revenue, Remaining Performance Obligation, Percentage | 10% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 3 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Percentage | 30% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Percentage | 30% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Percentage | 30% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 10 - Revenues - Disaggrega
Note 10 - Revenues - Disaggregated Revenue by Major Product, Product Portfolio Summary, and Geography (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Revenue | [1] | $ 289 | $ 287 | $ 900 | $ 843 |
UNITED STATES | |||||
Revenue | [1] | 119 | 109 | 356 | 311 |
CANADA | |||||
Revenue | [1] | 5 | 5 | 16 | 17 |
North America [Member] | |||||
Revenue | [1] | 124 | 114 | 372 | 328 |
EMEA [Member] | |||||
Revenue | [1] | 101 | 100 | 330 | 293 |
Asia Pacific [Member] | |||||
Revenue | [1] | 56 | 64 | 173 | 197 |
Latin America [Member] | |||||
Revenue | [1] | 8 | 9 | 25 | 25 |
Plates Inks And Other Consumables [Member] | |||||
Revenue | 160 | 159 | 516 | 456 | |
Ongoing Service Arrangements [Member] | |||||
Revenue | [2] | 54 | 55 | 165 | 167 |
Annuities [Member] | |||||
Revenue | 214 | 214 | 681 | 623 | |
Equipment And Software [Member] | |||||
Revenue | 20 | 18 | 52 | 65 | |
Growth Engines [Member] | |||||
Revenue | [3] | 94 | 88 | 297 | 261 |
Film And Chemicals [Member] | |||||
Revenue | 47 | 47 | 142 | 133 | |
Strategic Other Businesses [Member] | |||||
Revenue | [4] | 186 | 187 | 571 | 545 |
Other [Member] | |||||
Revenue | [5] | 8 | 8 | 25 | 22 |
Planned Declining Businesses [Member] | |||||
Revenue | [6] | 9 | 12 | 32 | 37 |
Traditional Printing [Member] | |||||
Revenue | [1] | 169 | 166 | 535 | 483 |
Traditional Printing [Member] | UNITED STATES | |||||
Revenue | [1] | 42 | 36 | 122 | 101 |
Traditional Printing [Member] | CANADA | |||||
Revenue | [1] | 3 | 3 | 9 | 9 |
Traditional Printing [Member] | North America [Member] | |||||
Revenue | [1] | 45 | 39 | 131 | 110 |
Traditional Printing [Member] | EMEA [Member] | |||||
Revenue | [1] | 76 | 75 | 258 | 219 |
Traditional Printing [Member] | Asia Pacific [Member] | |||||
Revenue | [1] | 40 | 44 | 123 | 132 |
Traditional Printing [Member] | Latin America [Member] | |||||
Revenue | [1] | 8 | 8 | 23 | 22 |
Traditional Printing [Member] | Plates Inks And Other Consumables [Member] | |||||
Revenue | 139 | 134 | 449 | 389 | |
Traditional Printing [Member] | Ongoing Service Arrangements [Member] | |||||
Revenue | [2] | 19 | 20 | 57 | 60 |
Traditional Printing [Member] | Annuities [Member] | |||||
Revenue | 158 | 154 | 506 | 449 | |
Traditional Printing [Member] | Equipment And Software [Member] | |||||
Revenue | 11 | 12 | 29 | 34 | |
Traditional Printing [Member] | Growth Engines [Member] | |||||
Revenue | [3] | 61 | 56 | 198 | 156 |
Traditional Printing [Member] | Film And Chemicals [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
Traditional Printing [Member] | Strategic Other Businesses [Member] | |||||
Revenue | [4] | 108 | 110 | 337 | 327 |
Traditional Printing [Member] | Other [Member] | |||||
Revenue | [5] | 0 | 0 | 0 | 0 |
Traditional Printing [Member] | Planned Declining Businesses [Member] | |||||
Revenue | [6] | 0 | 0 | 0 | 0 |
Digital Printing [Member] | |||||
Revenue | [1] | 55 | 58 | 169 | 184 |
Digital Printing [Member] | UNITED STATES | |||||
Revenue | [1] | 26 | 25 | 81 | 78 |
Digital Printing [Member] | CANADA | |||||
Revenue | [1] | 2 | 2 | 6 | 7 |
Digital Printing [Member] | North America [Member] | |||||
Revenue | [1] | 28 | 27 | 87 | 85 |
Digital Printing [Member] | EMEA [Member] | |||||
Revenue | [1] | 19 | 21 | 57 | 62 |
Digital Printing [Member] | Asia Pacific [Member] | |||||
Revenue | [1] | 8 | 9 | 23 | 34 |
Digital Printing [Member] | Latin America [Member] | |||||
Revenue | [1] | 0 | 1 | 2 | 3 |
Digital Printing [Member] | Plates Inks And Other Consumables [Member] | |||||
Revenue | 15 | 18 | 47 | 50 | |
Digital Printing [Member] | Ongoing Service Arrangements [Member] | |||||
Revenue | [2] | 31 | 34 | 99 | 103 |
Digital Printing [Member] | Annuities [Member] | |||||
Revenue | 46 | 52 | 146 | 153 | |
Digital Printing [Member] | Equipment And Software [Member] | |||||
Revenue | 9 | 6 | 23 | 31 | |
Digital Printing [Member] | Growth Engines [Member] | |||||
Revenue | [3] | 32 | 32 | 97 | 105 |
Digital Printing [Member] | Film And Chemicals [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
Digital Printing [Member] | Strategic Other Businesses [Member] | |||||
Revenue | [4] | 14 | 14 | 40 | 42 |
Digital Printing [Member] | Other [Member] | |||||
Revenue | [5] | 0 | 0 | 0 | 0 |
Digital Printing [Member] | Planned Declining Businesses [Member] | |||||
Revenue | [6] | 9 | 12 | 32 | 37 |
Advanced Materials And Chemicals [Member] | |||||
Revenue | [1] | 58 | 55 | 173 | 155 |
Advanced Materials And Chemicals [Member] | UNITED STATES | |||||
Revenue | [1] | 44 | 40 | 130 | 111 |
Advanced Materials And Chemicals [Member] | CANADA | |||||
Revenue | [1] | 0 | 0 | 1 | 1 |
Advanced Materials And Chemicals [Member] | North America [Member] | |||||
Revenue | [1] | 44 | 40 | 131 | 112 |
Advanced Materials And Chemicals [Member] | EMEA [Member] | |||||
Revenue | [1] | 6 | 4 | 15 | 12 |
Advanced Materials And Chemicals [Member] | Asia Pacific [Member] | |||||
Revenue | [1] | 8 | 11 | 27 | 31 |
Advanced Materials And Chemicals [Member] | Latin America [Member] | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
Advanced Materials And Chemicals [Member] | Plates Inks And Other Consumables [Member] | |||||
Revenue | 6 | 7 | 20 | 17 | |
Advanced Materials And Chemicals [Member] | Ongoing Service Arrangements [Member] | |||||
Revenue | [2] | 4 | 1 | 9 | 4 |
Advanced Materials And Chemicals [Member] | Annuities [Member] | |||||
Revenue | 10 | 8 | 29 | 21 | |
Advanced Materials And Chemicals [Member] | Equipment And Software [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
Advanced Materials And Chemicals [Member] | Growth Engines [Member] | |||||
Revenue | [3] | 1 | 0 | 2 | 0 |
Advanced Materials And Chemicals [Member] | Film And Chemicals [Member] | |||||
Revenue | 47 | 47 | 142 | 133 | |
Advanced Materials And Chemicals [Member] | Strategic Other Businesses [Member] | |||||
Revenue | [4] | 57 | 55 | 171 | 155 |
Advanced Materials And Chemicals [Member] | Other [Member] | |||||
Revenue | [5] | 1 | 0 | 2 | 1 |
Advanced Materials And Chemicals [Member] | Planned Declining Businesses [Member] | |||||
Revenue | [6] | 0 | 0 | 0 | 0 |
Brand [Member] | |||||
Revenue | [1] | 3 | 4 | 11 | 10 |
Brand [Member] | UNITED STATES | |||||
Revenue | [1] | 3 | 4 | 11 | 10 |
Brand [Member] | CANADA | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
Brand [Member] | North America [Member] | |||||
Revenue | [1] | 3 | 4 | 11 | 10 |
Brand [Member] | EMEA [Member] | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
Brand [Member] | Asia Pacific [Member] | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
Brand [Member] | Latin America [Member] | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
Brand [Member] | Plates Inks And Other Consumables [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
Brand [Member] | Ongoing Service Arrangements [Member] | |||||
Revenue | [2] | 0 | 0 | 0 | 0 |
Brand [Member] | Annuities [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
Brand [Member] | Equipment And Software [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
Brand [Member] | Growth Engines [Member] | |||||
Revenue | [3] | 0 | 0 | 0 | 0 |
Brand [Member] | Film And Chemicals [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
Brand [Member] | Strategic Other Businesses [Member] | |||||
Revenue | [4] | 3 | 4 | 11 | 10 |
Brand [Member] | Other [Member] | |||||
Revenue | [5] | 3 | 4 | 11 | 10 |
Brand [Member] | Planned Declining Businesses [Member] | |||||
Revenue | [6] | 0 | 0 | 0 | 0 |
All Other [Member] | |||||
Revenue | [1] | 4 | 4 | 12 | 11 |
All Other [Member] | UNITED STATES | |||||
Revenue | [1] | 4 | 4 | 12 | 11 |
All Other [Member] | CANADA | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
All Other [Member] | North America [Member] | |||||
Revenue | [1] | 4 | 4 | 12 | 11 |
All Other [Member] | EMEA [Member] | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
All Other [Member] | Asia Pacific [Member] | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
All Other [Member] | Latin America [Member] | |||||
Revenue | [1] | 0 | 0 | 0 | 0 |
All Other [Member] | Plates Inks And Other Consumables [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
All Other [Member] | Ongoing Service Arrangements [Member] | |||||
Revenue | [2] | 0 | 0 | 0 | 0 |
All Other [Member] | Annuities [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
All Other [Member] | Equipment And Software [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
All Other [Member] | Growth Engines [Member] | |||||
Revenue | [3] | 0 | 0 | 0 | 0 |
All Other [Member] | Film And Chemicals [Member] | |||||
Revenue | 0 | 0 | 0 | 0 | |
All Other [Member] | Strategic Other Businesses [Member] | |||||
Revenue | [4] | 4 | 4 | 12 | 11 |
All Other [Member] | Other [Member] | |||||
Revenue | [5] | 4 | 4 | 12 | 11 |
All Other [Member] | Planned Declining Businesses [Member] | |||||
Revenue | [6] | $ 0 | $ 0 | $ 0 | $ 0 |
[1]Sales are reported in the geographic area in which they originate.[2]Service revenue in the Consolidated Statement of Operations includes the ongoing service revenue shown above as well as one-time service revenue.[3]Growth engines consist of Sonora in the Traditional Printing segment, PROSPER and Software in the Digital Printing segment, and Advanced Materials and Functional Printing in the Advanced Materials and Chemicals segment, excluding intellectual property (“IP”) licensing.[4]Strategic other businesses include plates (excluding Sonora plates) and Computer to Plate (“CTP”) equipment and related service in the Traditional Printing segment; Nexpress and related toner business in the Digital Printing segment and Motion Picture and Industrial Film and Chemicals (including external inks) and IP licensing in the Advanced Materials and Chemicals segment; the Brand segment and All Other.[5]Other includes revenue from non-recurring engineering services, tenant rent and related property management services and licensing.[6]Planned declining businesses are product lines where the decision has been made to stop new product development and manage an orderly expected decline in the installed product and annuity base or are otherwise not strategic to Kodak. These product families consist of VERSAMARK and Digimaster in the Digital Printing segment. |
Note 11 - Other Operating Exp_3
Note 11 - Other Operating Expense (Income) - Summary of Other Operating Income, by Component (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Expense (income): | ||||
Legal settlements | $ 0 | $ 0 | $ 0 | $ (7) |
Net loss on sales of assets | 0 | 1 | 0 | 1 |
Total | $ 0 | $ 1 | $ 0 | $ (6) |
Note 12 - Other (Income) Char_3
Note 12 - Other (Income) Charges - Schedule of Other (Income) Charges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives | [1] | $ 0 | $ (3) | $ (1) | $ (3) |
Loss on foreign exchange transactions | 0 | 1 | 2 | 2 | |
Other | 0 | 0 | 1 | 0 | |
Total | $ 0 | $ (2) | $ 2 | $ (1) | |
[1]Refer to Note 19, “Financial Instruments”. |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Mar. 31, 2021 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% | ||
Foreign Tax Authority [Member] | ||||||
Tax Adjustments, Settlements, and Unusual Provisions | $ 2 | |||||
Decrease in Net Deferred Tax Assets | $ 2 | |||||
Liability for Uncertainty in Income Taxes, Current | $ 3 | |||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 4 |
Note 13 - Income Taxes - Schedu
Note 13 - Income Taxes - Schedule of Income Tax Provision and Effective Tax Rate (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Earnings from operations before income taxes | $ 3 | $ 9 | $ 21 | $ 35 |
Effective tax rate | 33.30% | 11.10% | 9.50% | 14.30% |
Provision for income taxes | $ 1 | $ 1 | $ 2 | $ 5 |
Provision for income taxes at U.S. statutory tax rate | 1 | 2 | 4 | 7 |
Difference between tax at effective vs. statutory rate | $ 0 | $ (1) | $ (2) | $ (2) |
Note 14 - Retirement Plans an_3
Note 14 - Retirement Plans and Other Postretirement Benefits (Details Textual) - Kodak Retirement Income Plan [Member] - USD ($) $ in Millions | May 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Defined Benefit Plan, Accumulated Benefit Obligation, Increase (Decrease) for Plan Amendment | $ (345) | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Increase (Decrease) in Discount Rate, Value | 376 | ||
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 28 | ||
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Changes in Other Demographic Assumptions | $ 3 | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.16% | 2.54% | |
Defined Benefit Plan, Plan Assets, Period Increase (Decrease), Total | $ (236) | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-Term Rate of Return on Plan Assets | 5.20% | ||
Defined Benefit Plan, Increase (Decrease) in Funded Status of Plan, Total | $ 109 | ||
Minimum [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate | 12% | 9% | |
Maximum [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate | 13% | 10% |
Note 14 - Retirement Plans an_4
Note 14 - Retirement Plans and Other Postretirement Benefits - Components of the Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Pension income | $ (64) | $ (63) | ||
Pension Plan [Member] | UNITED STATES | ||||
Service cost | $ 3 | $ 3 | 9 | 8 |
Interest cost | 24 | 12 | 56 | 36 |
Expected return on plan assets | (45) | (42) | (133) | (126) |
Prior service credit | 0 | (2) | (3) | (5) |
Actuarial loss | 0 | 7 | 0 | 22 |
Net pension (income) expense before special termination benefits | (18) | (22) | (71) | (65) |
Special termination benefits | 1 | 0 | 1 | 0 |
Pension income | (17) | (22) | (70) | (65) |
Pension Plan [Member] | Foreign Plan [Member] | ||||
Service cost | 0 | 1 | 2 | 3 |
Interest cost | 2 | 2 | 6 | 4 |
Expected return on plan assets | (3) | (4) | (10) | (11) |
Prior service credit | 0 | 0 | 0 | 0 |
Actuarial loss | 3 | 2 | 8 | 6 |
Net pension (income) expense before special termination benefits | 2 | 1 | 6 | 2 |
Special termination benefits | 0 | 0 | 0 | 0 |
Pension income | $ 2 | $ 1 | $ 6 | $ 2 |
Note 15 - Earning Per Share (De
Note 15 - Earning Per Share (Details Textual) - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Series B Preferred Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1,000 | 1,000 | 1,000 | 1,000 |
Series C Preferred Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1,100 | 1,000 | 1,100 | 1,000 |
Two Thousand Twenty One Convertible Notes [Member] | ||||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount, Value | $ 25 | $ 25 | $ 25 | $ 25 |
Restricted Stock Units (RSUs) [Member] | ||||
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements (in shares) | 700 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 300 | ||
Share-Based Payment Arrangement, Option [Member] | ||||
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements (in shares) | 1,300 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 3,300 | 3,100 | 3,400 | 3,100 |
Note 15 - Earnings Per Share -
Note 15 - Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
NET INCOME | $ 2 | $ 20 | $ (3) | $ 8 | $ 16 | $ 6 | $ 19 | $ 30 |
Preferred stock cash dividends | (1) | (1) | (1) | (1) | (2) | (1) | (3) | (4) |
Preferred stock in-kind dividends | (2) | $ (1) | $ (1) | (1) | $ (1) | $ (1) | (4) | (3) |
Less: Preferred stock deemed dividends | 0 | (1) | (1) | (3) | ||||
Plus: Expiration of Series A preferred stock embedded derivative | 0 | 0 | 0 | 11 | ||||
Less: Earnings attributable to Series C Preferred shareholders | 0 | 0 | (2) | 0 | ||||
Net (loss) income available to common shareholders - basic and diluted | $ (1) | $ 5 | $ 9 | $ 31 | ||||
Basic (in shares) | 79 | 78.6 | 78.9 | 78.3 | ||||
Effect of dilutive securities | ||||||||
Weighted average shares — diluted (in shares) | 79 | 80.6 | 80.7 | 80.5 | ||||
Share-Based Payment Arrangement, Option [Member] | ||||||||
Effect of dilutive securities | ||||||||
Weighted Average Number of Shares Outstanding, Diluted, Adjustment, Total (in shares) | 0 | 1.9 | 1.2 | 2.1 | ||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Effect of dilutive securities | ||||||||
Weighted Average Number of Shares Outstanding, Diluted, Adjustment, Total (in shares) | 0 | 0.1 | 0.6 | 0.1 |
Note 16 - Shareholders' Equity
Note 16 - Shareholders' Equity (Details Textual) - $ / shares shares in Millions | Sep. 30, 2022 | Dec. 31, 2021 | Feb. 26, 2021 |
Stock Authorized (in shares) | 560 | ||
Common Stock, Shares Authorized (in shares) | 500 | ||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred Stock, Shares Authorized (in shares) | 60 | ||
Preferred Stock, No Par Value (in dollars per share) | $ 0 | $ 0 | |
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 79.1 | 78.7 | |
Treasury Stock, Shares, Total (in shares) | 0.9 | 0.8 | |
Series B Preferred Stock [Member] | |||
Preferred Stock, No Par Value (in dollars per share) | $ 0 | ||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 1 | 1 | |
Preferred Stock, Shares Issued (in shares) | 1 | 1 | |
Series C Preferred Stock [Member] | |||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 1.1 | 1 | |
Preferred Stock, Shares Issued (in shares) | 1.1 | 1 |
Note 17 - Other Comprehensive_3
Note 17 - Other Comprehensive Income - Changes in Other Comprehensive Income (Loss), by Component (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Currency translation adjustments | $ (1) | $ 0 | $ (6) | $ 3 | |
Newly established net actuarial gain (loss) | 0 | 0 | 109 | (1) | |
Tax Provision | 0 | 0 | 0 | 0 | |
Newly established net actuarial gain (loss), net of tax | 0 | 0 | 109 | (1) | |
Amortization of prior service credit (1) | [1] | (1) | (2) | (4) | (6) |
Amortization of actuarial losses (1) | [1] | 3 | 9 | 7 | 28 |
Total reclassification adjustments | 2 | 7 | 3 | 22 | |
Tax provision | 0 | 0 | 0 | 0 | |
Reclassification adjustments, net of tax | 2 | 7 | 3 | 22 | |
Pension and other postretirement benefit plan obligation activity, net of tax | 2 | 7 | 112 | 21 | |
Other comprehensive income | $ 1 | $ 7 | $ 106 | $ 24 | |
[1]Reclassified to Total Net Periodic Benefit Cost - refer to Note 14, "Retirement Plans and Other Postretirement Benefits". |
Note 18 - Segment Information_2
Note 18 - Segment Information (Details Textual) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) a | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) a | Sep. 30, 2021 USD ($) | |
Number of Reportable Segments | 4 | |||
Increase (Decrease) in Employee Related Liabilities, Total | $ (5) | $ (1) | $ (13) | $ (4) |
Gross Profit [Member] | ||||
Increase (Decrease) in Employee Related Liabilities, Total | (3) | $ (1) | (8) | (3) |
Selling, General and Administrative Expenses [Member] | ||||
Increase (Decrease) in Employee Related Liabilities, Total | (1) | (4) | $ (1) | |
Research and Development Expense [Member] | ||||
Increase (Decrease) in Employee Related Liabilities, Total | $ (1) | $ (1) | ||
Eastman Business Park Rochester N Y [Member] | Minimum [Member] | ||||
Area of Real Estate Property (Acre) | a | 1,200 | 1,200 | ||
Digital Printing [Member] | ||||
Number of Business Lines | 4 | |||
Advanced Materials And Chemicals [Member] | ||||
Number of Business Lines | 3 |
Note 18 - Segments - Schedule o
Note 18 - Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Total revenues | [1] | $ 289 | $ 287 | $ 900 | $ 843 |
Depreciation and amortization | (22) | (23) | |||
Restructuring costs and other | (3) | 0 | (3) | (1) | |
Other operating (expense) income, net (3) | 0 | (1) | 0 | 6 | |
Interest expense (3) | (10) | (9) | (29) | (23) | |
Pension income excluding service cost component (3) | 20 | 25 | 77 | 76 | |
Other income (charges), net (3) | 0 | 2 | (2) | 1 | |
Continuing Operations [Member] | |||||
Total revenues | 289 | 287 | 900 | 843 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 7 | 6 | 11 | 19 | |
Depreciation and amortization | (8) | (7) | (22) | (23) | |
Restructuring costs and other | (3) | 0 | (3) | (1) | |
Stock based compensation | (1) | (2) | (4) | (6) | |
Consulting and other costs (1) | [2] | (2) | (4) | (7) | (13) |
Idle costs (2) | [3] | (1) | (1) | (2) | (2) |
Other operating (expense) income, net (3) | [4] | 0 | (1) | 0 | 6 |
Interest expense (3) | [4] | (10) | (9) | (29) | (23) |
Pension income excluding service cost component (3) | [4] | 20 | 25 | 77 | 76 |
Other income (charges), net (3) | 0 | 2 | (2) | 1 | |
Consolidated earnings from operations before income taxes | 3 | 9 | 21 | 35 | |
Traditional Printing [Member] | |||||
Total revenues | [1] | 169 | 166 | 535 | 483 |
Traditional Printing [Member] | Operating Segments [Member] | Continuing Operations [Member] | |||||
Total revenues | 169 | 166 | 535 | 483 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 7 | 5 | 15 | 16 | |
Digital Printing [Member] | |||||
Total revenues | [1] | 55 | 58 | 169 | 184 |
Digital Printing [Member] | Operating Segments [Member] | Continuing Operations [Member] | |||||
Total revenues | 55 | 58 | 169 | 184 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | (6) | (2) | (15) | (2) | |
Advanced Materials And Chemicals [Member] | |||||
Total revenues | [1] | 58 | 55 | 173 | 155 |
Advanced Materials And Chemicals [Member] | Operating Segments [Member] | Continuing Operations [Member] | |||||
Total revenues | 58 | 55 | 173 | 155 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 3 | 0 | 1 | (3) | |
Brand [Member] | |||||
Total revenues | [1] | 3 | 4 | 11 | 10 |
Brand [Member] | Operating Segments [Member] | Continuing Operations [Member] | |||||
Total revenues | 3 | 4 | 11 | 10 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 3 | 3 | 10 | 8 | |
All Other [Member] | |||||
Total revenues | [1] | 4 | 4 | 12 | 11 |
All Other [Member] | Operating Segments [Member] | Continuing Operations [Member] | |||||
Total revenues | 4 | 4 | 12 | 11 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | $ 1 | $ 0 | $ 2 | $ 1 | |
[1]Sales are reported in the geographic area in which they originate.[2]Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation.[3]Consists of third-party costs such as security, maintenance and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.[4]As reported in the Consolidated Statement of Operations. |
Note 19 - Financial Instrumen_3
Note 19 - Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Derivatives Hedging Instruments | $ 0 | $ 0 | $ 0 | $ 0 | |
Fair Value, Inputs, Level 2 [Member] | |||||
Long-Term Debt, Fair Value | 262,000 | 262,000 | $ 269,000 | ||
Forward Contracts [Member] | |||||
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 | 0 | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 3,000 | 3,000 | 0 | ||
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative Asset, Notional Amount | $ 284,000 | $ 284,000 | $ 322,000 |
Note 19 - Financial Instrumen_4
Note 19 - Financial Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net loss (gain) from derivatives not designated as hedging instruments | $ 6 | $ (1) | $ 16 | $ 1 |
Note 19 - Financial Instrumen_5
Note 19 - Financial Instruments - Derivative Liability Key Inputs in Determination of Fair Value for Embedded Conversion Features (Details) $ / shares in Units, $ in Millions | Sep. 30, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Feb. 26, 2021 USD ($) |
Series B Preferred Stock [Member] | |||
Total value of embedded derivative liability ($ millions) | $ 1 | ||
Series C Preferred Stock [Member] | |||
Total value of embedded derivative liability ($ millions) | $ 2 | ||
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | |||
Total value of embedded derivative liability ($ millions) | $ 1 | $ 1 | |
Kodak's closing stock price (in dollars per share) | $ / shares | $ 4.59 | $ 4.68 | |
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | Measurement Input, Price Volatility [Member] | |||
Alternative Investment, Measurement Input | 50 | 36 | |
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Alternative Investment, Measurement Input | 4.19 | 1.17 | |
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | Measurement Input, Credit Spread [Member] | |||
Alternative Investment, Measurement Input | 28.27 | 19.39 | |
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | |||
Total value of embedded derivative liability ($ millions) | $ 1 | $ 2 | |
Kodak's closing stock price (in dollars per share) | $ / shares | $ 4.59 | $ 4.68 | |
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | Measurement Input, Price Volatility [Member] | |||
Alternative Investment, Measurement Input | 50 | 36 | |
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Alternative Investment, Measurement Input | 4.19 | 1.17 | |
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | Measurement Input, Credit Spread [Member] | |||
Alternative Investment, Measurement Input | 30.27 | 21.39 | |
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | |||
Total value of embedded derivative liability ($ millions) | $ 4 | $ 4 | |
Kodak's closing stock price (in dollars per share) | $ / shares | $ 4.59 | $ 4.68 | |
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | Measurement Input, Price Volatility [Member] | |||
Alternative Investment, Measurement Input | 50 | 36 | |
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Alternative Investment, Measurement Input | 4.19 | 1.17 | |
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | Measurement Input, Credit Spread [Member] | |||
Alternative Investment, Measurement Input | 27.27 | 18.89 |