Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Mar. 07, 2024 | Jun. 30, 2023 | |
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 | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2023 | ||
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 | 800 | ||
Local Phone Number | 356-3259 | ||
Title of 12(b) Security | Common stock, par value $0.01 per share | ||
Trading Symbol | KODK | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 293,000,000 | ||
Entity Common Stock, Shares Outstanding | 79,900,000 | ||
Auditor Firm ID | 42 | ||
Auditor Name | Ernst & Young | ||
Auditor Location | Rochester, New York, USA |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues | |||
Total revenues | $ 1,117 | $ 1,205 | $ 1,150 |
Cost of revenues | |||
Total cost of revenues | 907 | 1,035 | 986 |
Gross profit | (210) | (170) | (164) |
Selling, general and administrative expenses | 159 | 153 | 177 |
Research and development costs | 34 | 34 | 33 |
Restructuring costs and other | 7 | 10 | 6 |
Other operating expense (income), net | 6 | (1) | (6) |
Earnings (loss) from continuing operations before interest expense, pension income excluding service cost component, loss on early extinguishment of debt, other (income) charges, net and income taxes | 4 | (26) | (46) |
Interest expense | 52 | 40 | 33 |
Pension income excluding service cost component | (161) | (98) | (102) |
Loss on early extinguishment of debt | 27 | 0 | 0 |
Other (income) charges, net | (1) | 1 | (5) |
Earnings from continuing operations before income taxes | 87 | 31 | 28 |
Provision for income taxes | 12 | 5 | 4 |
NET EARNINGS | $ 75 | $ 26 | $ 24 |
Basic earnings per share attributable to Eastman Kodak Company common shareholders (in dollars per share) | $ 0.71 | $ 0.16 | $ 0.28 |
Diluted earnings per share attributable to Eastman Kodak Company common shareholders (in dollars per share) | $ 0.67 | $ 0.16 | $ 0.27 |
Basic (in shares) | 79.4 | 78.9 | 78.4 |
Diluted (in shares) | 90.5 | 80.6 | 80.5 |
Product [Member] | |||
Revenues | |||
Total revenues | $ 917 | $ 983 | $ 925 |
Cost of revenues | |||
Total cost of revenues | 765 | 885 | 830 |
Service [Member] | |||
Revenues | |||
Total revenues | 200 | 222 | 225 |
Cost of revenues | |||
Total cost of revenues | $ 142 | $ 150 | $ 156 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive (Loss) Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
NET EARNINGS | $ 75 | $ 26 | $ 24 |
Other comprehensive (loss) income, net: | |||
Currency translation adjustments | (8) | (12) | 6 |
Pension and other postretirement benefit plan obligation activity, net of tax | (173) | 253 | 661 |
Other comprehensive (loss) income, net attributable to Eastman Kodak Company | (181) | 241 | 667 |
COMPREHENSIVE (LOSS) INCOME, NET | $ (106) | $ 267 | $ 691 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
ASSETS | ||
Cash and cash equivalents | $ 255 | $ 217 |
Trade receivables, net of allowances of $8 and $7 respectively | 195 | 177 |
Inventories, net | 217 | 237 |
Other current assets | 45 | 48 |
Current assets held for sale | 0 | 2 |
Total current assets | 712 | 681 |
Property, plant and equipment, net | 169 | 154 |
Goodwill | 12 | 12 |
Intangible assets, net | 24 | 28 |
Operating lease right-of-use assets | 30 | 39 |
Restricted cash | 110 | 62 |
Pension and other postretirement assets | 1,216 | 1,233 |
Other long-term assets | 82 | 76 |
TOTAL ASSETS | 2,355 | 2,285 |
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY | ||
Accounts payable, trade | 125 | 134 |
Short-term borrowings and current portion of long-term debt | 1 | 1 |
Current portion of operating leases | 13 | 15 |
Other current liabilities | 144 | 143 |
Total current liabilities | 283 | 293 |
Long-term debt, net of current portion | 457 | 316 |
Pension and other postretirement liabilities | 237 | 230 |
Operating leases, net of current portion | 24 | 31 |
Other long-term liabilities | 213 | 171 |
Total liabilities | 1,214 | 1,041 |
Commitments and contingencies (Note 11) | ||
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference | 210 | 203 |
Equity | ||
Common stock, $0.01 par value | 0 | 0 |
Additional paid in capital | 1,156 | 1,160 |
Treasury stock, at cost | (11) | (11) |
Accumulated deficit | (495) | (570) |
Accumulated other comprehensive income | 281 | 462 |
Total equity | 931 | 1,041 |
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY | 2,355 | 2,285 |
Redeemable Preferred Stock [Member] | ||
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY | ||
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference | $ 210 | $ 203 |
Consolidated Statement of Fin_2
Consolidated Statement of Financial Position (Parentheticals) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Allowance for trade receivables | $ 8 | $ 7 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Redeemable 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 Equit
Consolidated Statement of Equity (Deficit) - USD ($) $ in Millions | Series A Preferred Stock [Member] Additional Paid-in Capital [Member] | Series A Preferred Stock [Member] Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] Additional Paid-in Capital [Member] | Series B Preferred Stock [Member] Preferred Stock [Member] | [1] | Series B Preferred Stock [Member] | Series C Preferred Stock [Member] Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Common [Member] | Preferred Stock [Member] | Total | |||
Balance at Dec. 31, 2020 | $ 0 | $ 1,152 | $ (620) | $ (446) | $ (9) | $ 191 | [1] | $ 77 | ||||||||||
Net earnings | 0 | 0 | 24 | 0 | 0 | 0 | [1] | 24 | ||||||||||
Currency translation adjustments | 0 | 0 | 0 | 6 | 0 | 0 | [1] | 6 | ||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | 661 | 0 | 0 | [1] | 661 | ||||||||||
Preferred stock cash and accrued dividends | 0 | (4) | 0 | 0 | 0 | 0 | [1] | (4) | ||||||||||
Preferred stock in-kind dividends | 0 | (4) | 0 | 0 | 0 | 4 | [1] | (4) | ||||||||||
Preferred stock deemed dividends | 0 | (3) | 0 | 0 | 0 | 3 | [1] | (3) | ||||||||||
Treasury stock purchases (2) | [2] | 0 | 0 | 0 | 0 | (1) | 0 | [1] | (1) | |||||||||
Stock-based compensation | 0 | 7 | 0 | 0 | 0 | 0 | [1] | 7 | ||||||||||
Balance at Dec. 31, 2021 | 0 | 1,166 | (596) | 221 | (10) | 196 | [1],[3] | 781 | ||||||||||
Repurchase of Series A Preferred Stock | [1] | $ (100) | ||||||||||||||||
Exchange of Series A Preferred Stock | $ 92 | $ (92) | [1] | $ 92 | ||||||||||||||
Expiration of Series A embedded derivative | $ 11 | $ 11 | ||||||||||||||||
Issuance of convertible, redeemable Series B Preferred Stock, net | $ (95) | $ 93 | $ (95) | |||||||||||||||
Issuance of stock | 0 | 10 | 0 | 0 | 0 | 0 | [1] | 10 | ||||||||||
Issuance of convertible, redeemable Series C Preferred Stock, net | [1] | $ 97 | ||||||||||||||||
Net earnings | 0 | 0 | 26 | 0 | 0 | 0 | [3] | 26 | ||||||||||
Currency translation adjustments | 0 | 0 | 0 | (12) | 0 | 0 | [3] | (12) | ||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | 253 | 0 | 0 | [3] | 253 | ||||||||||
Preferred stock cash and accrued dividends | 0 | (4) | 0 | 0 | 0 | 0 | [3] | (4) | ||||||||||
Preferred stock in-kind dividends | 0 | (5) | 0 | 0 | 0 | 5 | [3] | (5) | ||||||||||
Preferred stock deemed dividends | 0 | (2) | 0 | 0 | 0 | 2 | [3] | (2) | ||||||||||
Treasury stock purchases (2) | [2] | 0 | 0 | 0 | 0 | (1) | 0 | [3] | (1) | |||||||||
Stock-based compensation | 0 | 5 | 0 | 0 | 0 | 0 | [3] | 5 | ||||||||||
Balance at Dec. 31, 2022 | 0 | 1,160 | (570) | 462 | (11) | 203 | [3] | 1,041 | ||||||||||
Net earnings | 0 | 0 | 75 | 0 | 0 | 0 | [3] | 75 | ||||||||||
Currency translation adjustments | 0 | 0 | 0 | (8) | 0 | 0 | [3] | (8) | ||||||||||
Pension and other postretirement liability adjustments | 0 | 0 | 0 | (173) | 0 | 0 | [3] | (173) | ||||||||||
Preferred stock cash and accrued dividends | 0 | (4) | 0 | 0 | 0 | 0 | [3] | (4) | ||||||||||
Preferred stock in-kind dividends | 0 | (5) | 0 | 0 | 0 | 5 | [3] | (5) | ||||||||||
Preferred stock deemed dividends | 0 | (2) | 0 | 0 | 0 | 2 | [3] | (2) | ||||||||||
Stock-based compensation | 0 | 7 | 0 | 0 | 0 | 0 | [3] | 7 | ||||||||||
Balance at Dec. 31, 2023 | $ 0 | $ 1,156 | $ (495) | $ 281 | $ (11) | $ 210 | [3] | $ 931 | ||||||||||
[1]There are 60 million shares of no-par value preferred stock authorized, 2.1 million of which are issued and outstanding at December 31, 2022. 2.0 million shares of preferred stock were issued and outstanding at December 31, 2021 and 2020.[2]Represents purchases of common stock to satisfy tax withholding obligations.[3]There are 60 million shares of no-par value preferred stock authorized, 2.1 million of which are issued and outstanding at December 31, 2023 and 2022. 2.0 million shares of preferred stock were issued and outstanding at December 31, 2021. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Cash flows from operating activities: | ||||||
Net earnings | $ 75 | $ 26 | $ 24 | |||
Depreciation and amortization | 30 | 29 | 31 | |||
Pension and other postretirement income | (145) | (77) | (83) | |||
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives | [1],[2] | 2 | (3) | (7) | ||
Asset impairments | [3],[4] | 5 | 1 | 0 | ||
Stock based compensation | 7 | 5 | 7 | |||
Non-cash changes in workers' compensation and other employee benefit reserves | (1) | (15) | (4) | |||
Net loss on sales of assets | 0 | 0 | 1 | |||
Loss on early extinguishment of debt | 27 | 0 | 0 | |||
Benefit from deferred income taxes | (1) | (3) | (1) | |||
Increase in trade receivables | (16) | (12) | (5) | |||
Decrease (increase) in miscellaneous receivables | 6 | (1) | (3) | |||
Decrease (increase) in inventories | 19 | (31) | (19) | |||
(Decrease) increase in trade accounts payable | (14) | (12) | 38 | |||
Increase (decrease) in liabilities excluding borrowings and trade payables | 21 | (36) | (29) | |||
Other items, net | 23 | 13 | 3 | |||
Total adjustments | (37) | (142) | (71) | |||
Net cash provided by (used in) operating activities | 38 | (116) | (47) | |||
Cash flows from investing activities: | ||||||
Additions to properties | (32) | (31) | (21) | |||
Purchase of preferred equity interest | 0 | (25) | 0 | |||
Net proceeds from sales of businesses/assets, net | 0 | 0 | 1 | |||
Net cash used in investing activities | (32) | (56) | (20) | |||
Cash flows from financing activities: | ||||||
Other debt acquisition costs | (1) | 0 | (2) | |||
Net proceeds from the sale of common stock | 0 | 0 | 10 | |||
Preferred stock dividend payments | (4) | (4) | (7) | |||
Treasury stock purchases | 0 | (1) | (1) | |||
Finance lease payments | (1) | (1) | (1) | |||
Net cash provided by financing activities | 85 | 43 | 238 | |||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 0 | (8) | (4) | |||
Net increase (decrease) in cash, cash equivalents and restricted cash | 91 | (137) | 167 | |||
Cash, cash equivalents and restricted cash, beginning of period | 286 | [5] | 423 | [5] | 256 | |
Cash, cash equivalents and restricted cash, end of period (1) | [5] | 377 | 286 | 423 | ||
Cash paid for interest and income taxes was: | ||||||
Interest (net of portion capitalized of $3 million in 2023 and 2022 and $0 million in 2021) | 26 | 23 | 14 | |||
Income taxes (net of refunds) | 9 | 6 | 2 | |||
Series C Preferred Stock [Member] | ||||||
Cash flows from financing activities: | ||||||
Net proceeds from Series C Preferred Stock | 0 | 0 | 99 | |||
Series A Preferred Stock [Member] | ||||||
Cash flows from financing activities: | ||||||
Repurchase of Series A Preferred Stock | 0 | 0 | (100) | |||
Amended and Restated Term Loan Agreement [Member] | ||||||
Cash flows from financing activities: | ||||||
Net proceeds from debt | 435 | 0 | 0 | |||
Original Term Loan Credit Agreement [Member] | ||||||
Cash flows from financing activities: | ||||||
Net proceeds from debt | 0 | 49 | 215 | |||
Repayment of debt | (316) | 0 | 0 | |||
Convertible Notes [Member] | ||||||
Cash flows from financing activities: | ||||||
Repayment of debt | (28) | 0 | 0 | |||
Proceeds from issuance of Convertible Notes | $ 0 | $ 0 | $ 25 | |||
[1]Refer to Note 13, “Financial Instruments”.[2]Refer to Note 14, “Financial Instruments”.[3]In the fourth quarter of 2022, Kodak recorded an impairment charge of $1 million related to the Kodak trade name. Refer to Note 5, "Goodwill and Other Intangible Assets".[4]In the fourth quarter of 2023, Kodak recorded an impairment charge of $4 million related to the Electrophotographic Printing Solutions (“EPS”) business due to the continued impacts of the decision to cease manufacturing of the EPS equipment products. The fair value of EPS was estimated using a discounted cash flow method (Level 3)[5]Refer to Note 2, “Cash, Cash Equivalents and Restricted Cash” for the components of cash, cash equivalents and restricted cash. |
Consolidated Statement of Cas_2
Consolidated Statement of Cash Flows (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest capitalized | $ 3,000 | $ 3,000 | $ 0 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 1: ACCOUNTING PRINCIPLES The consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The following is a description of the significant accounting policies of Kodak. BASIS OF CONSOLIDATION The consolidated financial statements include the accounts of Eastman Kodak Company ("EKC") and all companies directly or indirectly controlled by EKC, either through majority ownership or otherwise. Kodak consolidates variable interest entities if Kodak has a controlling financial interest and is determined to be the primary beneficiary of the entity. RECLASSIFICATIONS Certain amounts from previous periods have been reclassified to conform to the current period classification due to Kodak's new organization structure as of February 2023. 26, 14, USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP accounting requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at year end and the reported amounts of revenues and expenses during the reporting periods presented. Actual results could differ from these estimates. FOREIGN CURRENCY For most subsidiaries and branches outside the U.S., the local currency is the functional currency. The financial statements of these subsidiaries and branches are translated into U.S. dollars as follows: assets and liabilities at year-end exchange rates; revenue, expenses and cash flows at average exchange rates; and shareholders’ equity at historical exchange rates. For those subsidiaries for which the local currency is the functional currency, the resulting translation adjustment is recorded as a component of Accumulated other comprehensive income in the accompanying Consolidated Statement of Financial Position. For certain other subsidiaries and branches outside the U.S., operations are conducted primarily in U.S. dollars, which is therefore the functional currency. Monetary assets and liabilities of these foreign subsidiaries and branches, which are recorded in local currency, are remeasured at year-end exchange rates, while revenue, expense, and gain and loss accounts, which are recorded in local currency, are remeasured at average exchange rates. Non-monetary assets and liabilities are remeasured at historical exchange rates. Adjustments that result from the remeasurement of the assets and liabilities of these subsidiaries are included in Other (income) charges, net in the accompanying Consolidated Statement of Operations. The effects of foreign currency transactions, including related hedging activities, are included in Other (income) charges, net, in the accompanying Consolidated Statement of Operations. CASH EQUIVALENTS All highly liquid investments with a remaining maturity of three INVENTORIES Inventories are stated at the lower of cost or net realizable value. The cost of inventories is determined by the average cost method, which approximates current cost. Kodak provides inventory reserves for excess, obsolete or slow-moving inventory based on changes in customer demand, technology developments or other economic factors. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are recorded at cost, net of accumulated depreciation. Kodak capitalizes additions and improvements while maintenance and repairs are charged to expense as incurred. Upon sale or other disposition, the applicable amounts of asset cost and accumulated depreciation are removed from the accounts and the net amount, less proceeds from disposal, is charged or credited to Other operating expense (income), net in the Consolidated Statement of Operations. Kodak calculates depreciation expense using the straight-line method over the assets’ estimated useful lives, which are as follows: Estimated Useful Lives Buildings and building improvements 5-40 Land improvements 4-20 Leasehold improvements 3-20 Equipment 3-20 Tooling 1-3 Furniture and fixtures 5-10 Kodak depreciates leasehold improvements over the shorter of the lease term or the assets’ estimated useful life. INTERNAL USE SOFTWARE Expenditures for software purchases and software developed for internal use are capitalized and depreciated on a straight-line basis over the estimated useful lives, generally 3 to 10 years. For software developed for internal use, certain costs are capitalized, including external direct costs of materials and services associated with developing or obtaining the software, and payroll and payroll-related costs for employees who are directly associated with internal-use software projects. Capitalization of these costs ceases no may not GOODWILL Goodwill is not not When testing goodwill for impairment, Kodak may not 50 not not 5, WORKERS COMPENSATION Kodak participates in high-deductible insurance programs with retention and per occurrence deductible levels for claims related to workers’ compensation. The estimated liability for workers’ compensation is based on actuarially estimated, discounted cost of claims, including claims incurred but not 6, 7, third not December 31, 2023 2022 LEASES Kodak as lessee Kodak determines if an arrangement is a lease at inception. The primary criteria used to classify transactions as operating or finance leases are: ( 1 2 75% 3 90% not not Operating lease right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the operating lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The ROU assets are adjusted for prepayments and lease incentives. Variable lease payments are excluded from the measurement of ROU assets and lease liabilities and are recognized in expense in the period in which the obligation for those payments is incurred. Lease agreements may Kodak’s lease agreements are primarily for real estate space and vehicles. Arrangements for goods and services are assessed to determine if the arrangement contains a lease at its inception. Operating leases are included within Operating lease right-of-use assets, Current portion of operating leases and Operating leases, net of current portion in the Consolidated Statement of Financial Position. Finance leases are included in Property, plant and equipment, net, Short-term borrowings and current portion of long-term debt and Long-term debt, net of current portion in the Consolidated Statement of Financial Position. When available, the rate implicit in the lease is used to discount lease payments to present value; however, many leases do not Rental expense related to operating leases is recognized on a straight-line basis over the lease term. The lease agreements may not Kodak as Lessor Kodak places its own equipment at customer sites under sales-type and operating lease arrangements. Arrangements classified as sales-type leases with revenue recognition at inception generally transfer title to the equipment by the end of the lease term or have a lease term that is for a major part of the remaining economic life of the equipment; and collectability is considered probable. Leases meeting the sales-type lease criteria with variable lease payments that do not one not not not may The Eastman Business Park segment’s core operations are commercial real estate management activities including real estate leasing and related facility management services. Kodak also leases underutilized portions of its other real estate properties to third Renewal options and/or termination options are factored into the determination of lease payments if considered probable. Kodak does not REVENUE Kodak’s revenue transactions include sales of products (such as components and consumables for use in Kodak and other manufacturers’ equipment, film-based products and specialty materials and chemicals), equipment, software, services (such as equipment and software maintenance, engineering, coating and contract manufacturing services), integrated solutions, intellectual property and brand licensing, and commercial real estate management activities. Revenue from services includes extended warranty, customer support and maintenance agreements, consulting, training and education. Revenue is recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration Kodak expects to be entitled to in exchange for those goods or services. For product sales (such as plates, film, inks, specialty materials and chemicals and other consumables), revenue is recognized when control has transferred from Kodak to the buyer, which may Equipment is generally dependent on, and interrelated with, the underlying operating system (firmware) and cannot function without the operating system. In these cases, the hardware and software licenses are accounted for as a single performance obligation. Contracts with customers may one may not For non-complex equipment installations and software sales, revenue is recognized when control of each distinct performance obligation has transferred from Kodak to the buyer, which is generally met when the equipment or software is delivered and installed at the customer site, as delivery and installation generally occur within the same period. For complex equipment installations or integrated software solutions, revenue is deferred until receipt of customer acceptance and control has transferred to the buyer. Software licenses are sold both in bundled equipment arrangements as discussed above or on a stand-alone basis. Perpetual licenses are usually sold with post-contract support services (“PCS”) which are considered distinct performance obligations as the customer’s use of the existing software is not In service arrangements such as consulting where final acceptance by the customer is required, revenue is deferred until all acceptance criteria have been met and Kodak has a legal right to payment. Kodak’s licensing revenue is comprised of software licenses as discussed above, licenses to use functional intellectual property (e.g. patents and technical know-how) and licenses to use symbolic intellectual property (e.g. brand names and trademarks). The timing and the amount of revenue recognized from the licensing of intellectual property depends upon a variety of factors, including the nature of the performance obligations (functional vs. symbolic licenses), specific terms of each agreement, and the payment terms. Aside from software licenses discussed above, Kodak’s functional licenses generally provide the right to use functional intellectual property; therefore, non-sales/usage-based revenue is recognized when the customer has the right to use the intellectual property while sales and usage-based royalties are recognized in the period the related sales and usage occurs. Revenue for symbolic licenses such as brand licenses are recognized over time. Real estate management revenue consists primarily of income from tenant leases, including rent and utilities, as well as facility management services and hosting onsite events. Usage based revenue is recognized as earned while tenant lease income is recognized on a straight-line basis over the lease term (Refer to Leases; Kodak as Lessor above). Deferred revenue is recorded when cash payments are received in advance of satisfying performance obligations such as deposits required in advance on equipment orders, prepaid service contracts, prepaid tenant lease income or prepaid royalties on intellectual property arrangements. Interest expense is imputed for payments received greater than one Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. With the exception of brand licensing arrangements, Kodak applies the practical expedient with respect to implied financial components and only imputes interest for payment terms greater than one Sales and usage-based taxes are excluded from revenues. Certain customers may Incremental direct costs of obtaining a contract consist of sales commissions. Kodak expenses sales commissions when incurred if the amortization period would be one Kodak does not one Performance obligations with an original expected length of greater than one December 31, 2023 2024 2025 2026 2027 ALLOWANCE FOR CREDIT LOSSES Kodak records an allowance for credit losses against financial assets measured at amortized cost basis (primarily accounts receivable) for the current expected credit losses inherent in the asset over its expected life. The allowance for credit losses is maintained based on historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. Kodak records a specific reserve for individual accounts when Kodak becomes aware of specific customer circumstances evidencing the customer's inability to pay, such as in the case of a bankruptcy filing or deterioration in the customer's operating results or financial position. RESEARCH AND DEVELOPMENT COSTS R&D costs, which include costs incurred in connection with new product development, fundamental and exploratory research, process improvement, product use technology and product accreditation, are expensed in the period in which they are incurred. ADVERTISING Advertising costs are expensed as incurred and are included in SG&A expenses in the accompanying Consolidated Statement of Operations. Advertising expenses amounted to $2 million, $3 million and $2 million for the years ended December 31, 2023 2022 2021 SHIPPING AND HANDLING COSTS Amounts charged to customers and costs incurred by Kodak related to shipping and handling are included in Net revenue and Cost of revenues, respectively. IMPAIRMENT OF LONG-LIVED ASSETS The carrying values of long-lived assets, other than goodwill and intangible assets with indefinite useful lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying values may not Long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (the asset group). If the sum of the expected undiscounted cash flows from the use of and eventual disposition of such asset group is less than the carrying value of the asset group a loss is recognized to the extent the carrying value of the asset group exceeds its fair value. Kodak determines fair value through quoted market prices in active markets or using a discounted cash flow analysis. The remaining useful lives of long-lived assets are reviewed in connection with the assessment of recoverability of long-lived assets and the ongoing strategic review of the business and operations. If the review indicates that the remaining useful life of the long-lived asset has changed significantly, the depreciation on that asset is adjusted to facilitate full cost recovery over its revised estimated remaining useful life. The carrying values of indefinite-lived intangible assets are evaluated for potential impairment annually or whenever events or changes in circumstances indicate that it is more likely than not 5, INCOME TAXES Kodak recognizes deferred tax liabilities and assets for the expected future tax consequences of operating losses, credit carry-forwards and temporary differences between the carrying amounts and tax basis of Kodak’s assets and liabilities. Kodak records a valuation allowance to reduce its net deferred tax assets to the amount that is more likely than not December 31, 2023 2022 17, The undistributed earnings of Kodak’s foreign subsidiaries are not RECENTLY ADOPTED 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 December 15, 2022 ( January 1, 2023 January 1, 2023 not RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In December 2023, 2023 09, 740 2023 09 December 15, 2024 ( January 1, 2025 In November 2023, 2023 07, 280 2023 07 not December 15, 2023 ( January 1, 2024 December 15, 2024 ( January 1, 2025 |
Note 2 - Cash, Cash Equivalents
Note 2 - Cash, Cash Equivalents and Restricted Cash | 12 Months Ended |
Dec. 31, 2023 | |
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 Statement of Financial Position that sums to the total of such amounts shown in the Statement of Cash Flows: As of December 31, (in millions) 2023 2022 Cash and cash equivalents $ 255 $ 217 Restricted cash reported in Other current assets 12 7 Restricted cash 110 62 Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows $ 377 $ 286 Restricted cash reported in Other current assets on the Consolidated Statement of Financial Position primarily represented amounts that support hedging activities and an escrow of $3 million in China to secure ongoing obligations under a supply agreement associated with the strategic relationship with Lucky HuaGuang Graphics Co. Ltd. ("HuaGuang"). The agreement with HuaGuang expires in the third 2024. Restricted cash included $32 million and $44 million as of December 31, 2023 2022 8, December 31, 2023 December 31, 2023 2022 December 31, 2022 $5 |
Note 3 - Inventories, Net
Note 3 - Inventories, Net | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3: As of December 31, (in millions) 2023 2022 Finished goods $ 85 $ 98 Work in process 68 64 Raw materials 64 75 Total $ 217 $ 237 |
Note 4 - Property, Plant and Eq
Note 4 - Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4: As of December 31, (in millions) 2023 2022 Land $ 55 $ 51 Buildings and building improvements 137 134 Machinery and equipment 420 390 Construction in progress 27 29 Property, plant and equipment, gross 639 604 Accumulated depreciation (470 ) (450 ) Property, plant and equipment, net $ 169 $ 154 Depreciation expense was $26 million, $24 million and $26 million for the years ended December 31, 2023, 2022 2021 |
Note 5 - Goodwill and Other Int
Note 5 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 5: The following table presents the changes in the carrying value of goodwill by reportable segment. Advanced Materials and Consolidated (in millions) Print Chemicals Brand Total Balance as of December 31, 2021 $ 6 $ — $ 6 $ 12 Impairment — — — — As of December 31, 2022 6 — 6 12 Impairment — — — — As of December 31, 2023 $ 6 $ — $ 6 $ 12 Gross goodwill $ 62 $ 8 $ 6 $ 76 Accumulated impairment losses (56 ) (8 ) — (64 ) Balance as of December 31, 2023 $ 6 $ — $ 6 $ 12 The Print segment has four goodwill reporting units: Prepress Solutions, Electrophotographic Printing Solutions; Prosper and Versamark; and Software. The Advanced Materials and Chemicals segment has two goodwill reporting units: Motion Picture and Industrial Films and Chemicals; and Advanced Materials and Functional Printing. The Brand segment has one December 31, 2023 Based upon the results of Kodak’s December 31, 2023 2022 December 31, 2023 2022 ` The gross carrying amount and accumulated amortization by major intangible asset category as of December 31, 2023 2022 As of December 31, 2023 Weighted Average Remaining Gross Carrying Accumulated Amortization Period (in millions) Amount Amortization Net (in years) Technology-based $ 99 $ 92 $ 7 2 years Kodak trade name 17 — 17 Indefinite life Customer-related 9 9 — 0 years Total $ 125 $ 101 $ 24 As of December 31, 2022 Weighted Average Remaining Gross Carrying Accumulated Amortization Period (in millions) Amount Amortization Net (in years) Technology-based $ 99 $ 88 $ 11 3 years Kodak trade name 17 — 17 Indefinite life Customer-related 9 9 - 1 year Total $ 125 $ 97 $ 28 Based on the results of Kodak’s December 31, 2023 December 31, 2022 December 31, 2022 Amortization expense related to intangible assets was $4 million for the year ended December 31, 2023 December 31, 2022 2021. Estimated future amortization expense related to intangible assets that are currently being amortized as of December 31, 2023 (in millions) 2024 $ 4 2025 3 Total $ 7 |
Note 6 - Other Current Liabilit
Note 6 - Other Current Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE 6: As of December 31, (in millions) 2023 2022 Deferred revenue and customer deposits $ 37 $ 40 Employment-related liabilities 36 35 Customer rebates 12 18 Workers' compensation 10 9 Restructuring liabilities 5 7 Accrued interest 9 6 Preferred Stock dividends payable 1 1 Other 34 27 Total $ 144 $ 143 The customer rebate amounts will potentially be settled through customer deductions applied to outstanding trade receivables in lieu of cash payments. The Other component above consists of other miscellaneous current liabilities that, individually, were less than 5% of the total current liabilities component within the Consolidated Statement of Financial Position and therefore have been aggregated in accordance with Regulation S- X. |
Note 7 - Long-term Liabilities
Note 7 - Long-term Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block] | NOTE 7: As of December 31, (in millions) 2023 2022 Workers' compensation $ 56 $ 59 Asset retirement obligations 43 43 Deferred taxes 27 27 Deferred brand licensing revenue (1) 63 11 Environmental liabilities 9 8 Embedded conversion option derivative liabilities 2 4 Other 13 19 Total $ 213 $ 171 ( 1 During the third 2023, 2023 December 31, 2023 five twenty not The Other component above consists of other miscellaneous long-term liabilities that, individually, were less than 5% X. |
Note 8 - Debt and Credit Facili
Note 8 - Debt and Credit Facilities | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8: Debt and finance leases and related maturities and interest rates were as follows at December 31, 2023 2022 Weighted-Average As of December 31, Effective 2023 2022 (in millions) Type Maturity Interest Rate Carrying Value Carrying Value Current portion: RED-Rochester, LLC 11.45% $ 1 $ 1 1 1 Non-current portion: Term Loans 2028 13.72% 446 — Original Term Loans 2026 13.68% — 286 Convertible Debt 2026 17.28% — 18 RED-Rochester, LLC 2033 11.45% 10 11 Finance Leases Various Various 1 1 457 316 $ 458 $ 317 Annual maturities of debt and finance leases outstanding at December 31, 2023 Carrying Maturity (in millions) Value Value 2024 1 1 2025 1 1 2026 1 1 2027 1 1 2028 447 582 2029 and thereafter 7 7 Total $ 458 $ 593 Term Loan Credit Agreement On February 26, 2021, February 26, 2023 ( June 15, 2022. February 26, 2026, On June 30, 2023, Subject to the terms and conditions of the Term Loan Amendment, the Term Loan Lenders provided the Company with a commitment to provide term loans in an aggregate principal amount of $450 million (the “Term Loans”). July 21, 2023, 2023 5.0% May 28, 2026 ( August 15, 2028 91 February 26, 2021, The Term Loans bear interest at a rate of 7.5% per annum payable in cash and 5.0% per annum payable “in-kind” ("PIK") or in cash at the Company’s option, for an aggregate interest rate of 12.5% per annum. Obligations under the Amended and Restated Term Loan Credit Agreement are secured by a first not second December 31, 2023 $200 not 10 10 no December 31, 2023, first 2024, Loss on Early Extinguishment of Debt - Original Term Loans July 21, 2023 third 2023. Board Rights Agreement On June 30, 2023, February 26, 2021 ( one $200 April 1, 2021 one May 19, 2021. Securities Purchase Agreement February 26, 2021, February 26, 2021. Convertible Notes The Convertible Notes bore interest at a rate of 5.0% per annum, which was payable in cash on the maturity date and in additional shares of Common Stock on any conversion date. The payment of interest only at the maturity date has the same effect as delivering additional debt instruments to the Holders of the Convertible Notes and therefore is considered PIK. Therefore, PIK was being added to the carrying value of the debt through the term and interest expense was recorded using the effective interest method. The maturity date of the Convertible Notes was May 28, 2026. Conversion Features $0.01 If the closing price of the Common Stock equaled or exceeded $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 had the right to cause the mandatory conversion of the Convertible Notes into shares of Common Stock. Embedded Derivatives The Convertible Notes were considered more akin to a debt-type instrument and the economic characteristics and risks of the embedded conversion features were not July 21, 2023, December 31, 2022 13, The carrying value of the Convertible Notes at December 31, 2022 December 31, 2022 3 Loss on Early Extinguishment of Debt - Convertible Notes July 21, 2023 third 2023. Securities Registration Rights Agreement On February 26, 2021, not Amended ABL Credit Agreement On September 3, 2013, February 26, 2021, fourth 2021, The Amended ABL Credit Agreement amended the ABL Credit Agreement to, among other things, (i) extend the maturity date to February 26, 2024 90 On March 14, 2023, No. 5 “2023 February 26, 2024 June 12, 2024, 2023 91 February 26, 2024, 2023 2023 If Minimum Liquidity fell below the daily or quarterly required minimum, an Event of Default would have occurred, in which case the Agent had the right to declare the obligation of each Lender to make Revolving Loans and of the Issuing Banks to issue Letters of Credit to be terminated, and declare the Revolving Loans, all interest thereon and all other amounts payable under the 2023 2023 July 21, 2023 December 31, 2022. On July 21, 2023, 2023 2023 2023 Quarterly Minimum Liquidity was $143 million and $150 million at March 31, 2023 December 31, 2022, $50 June 30, 2023 not 2023 July 21, 2023. The Company was required to maintain Excess Availability above the greater of 12.5% of lender commitments ($11.25 million at both May 31, 2023 December 31, 2022) May 31, 2023 December 31, 2022, June 30, 2023 not 2023 July 21, 2023. If Excess Availability fell below the greater of 12.5% of lender commitments or $11.25 million, a Fixed Charge Coverage Ratio Trigger Event would have occurred. During any Fixed Charge Coverage Ratio Trigger Event, the Company would have been required to maintain a Fixed Charge Coverage Ratio of greater than or equal to 1.0 to 1.0. May 31, 2023 December 31, 2022, not 1.0. If Excess Availability fell below the greater of 12.5% of lender commitments or $11.25 million and the Fixed Charge Coverage Ratio was less than 1.0 1.0, 2023 not 1.0. March 31, 2023, 2023 1.0 1.0. June 30, 2023 not 2023 July 21, 2023. Under the terms of the Amended ABL Credit Agreement, the Company could designate Restricted Subsidiaries as Unrestricted Subsidiaries provided the aggregate sales of all Unrestricted Subsidiaries are less than 7.5% of the consolidated sales of Kodak and the aggregate assets of all Unrestricted Subsidiaries are less than 7.5% of Kodak’s consolidated assets. Further, on a pro forma basis at the time of designation and immediately after giving effect thereto, Excess Availability must be at least $30 no 1.0. Under the Amended ABL Credit Agreement the Company designated three December 31, 2022 2021, December 31, 2022, Letter of Credit Facility Agreement On February 26, 2021, On March 14, 2023, “2023 February 26, 2024 June 12, 2024, 2023 91 2023 2023 2023 2023 2023 2023 1.0. On June 30, 2023, “June 2023 2023 June 2023 June 2023 July 21, 2023. June 2023 August 30, 2023; Upon the termination of the 2023 July 21, 2023, 2023 August 2023, August 15, 2023. The June 2023 2023 x fifth 90 may 90 2023 December 31, 2023 2022 December 31, 2023 2022 first second The Amended and Restated L/C Facility Agreement contains certain affirmative and negative covenants similar to the affirmative and negative covenants contained in the Amended and Restated Term Loan Credit Agreement. The Amended and Restated L/C Facility Agreement does not 50% 50% not not RED-Rochester, LLC In January 2019 August 2033. |
Note 9 - Redeemable, Convertibl
Note 9 - Redeemable, Convertible Preferred Stock | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Temporary Equity Disclosure [Text Block] | NOTE 9: Redeemable convertible preferred stock was as follows: As of December 31, (in millions) 2023 2022 Series B preferred stock $ 96 $ 95 Series C preferred stock 114 108 Total $ 210 $ 203 Series A Preferred Stock On November 15, 2016, no C2W November 7, 2016. The Company classified the Series A Preferred Stock as temporary equity in the Consolidated Statement of Financial Position. Redemption Features If any shares of Series A Preferred Stock had not fifth not Repurchase and Exchange Agreement On February 26, 2021 one million one million one one Embedded Conversion Features Each share of Series A Preferred Stock was convertible, at the option of each holder at any time, into shares of Common Stock at the initial conversion rate of 5.7471 (equivalent to an initial conversion price of $17.40 per share of Common Stock). If a holder elected to convert any shares of Series A Preferred Stock during a specified period in connection with a fundamental change (as defined in the Certificate of Designations), the conversion rate would have been adjusted under certain circumstances and such holder would also have been entitled to a payment in respect of accumulated dividends. If a holder elected to convert any shares of Series A Preferred Stock during a specified period following a reorganization event (as defined in the Certificate of Designations), such holder could have elected to have the conversion rate adjusted. In addition, the Company had the right to require holders to convert any shares of Series A Preferred Stock in connection with certain reorganization events, in which case the conversion rate would have been adjusted under certain circumstances. If shares of Series A Preferred Stock were not The Company had the right to convert Series A Preferred Stock into Common Stock at any time after the second 45 60 60 Kodak allocated $43 million of the net proceeds from the issuance of the Series A Stock to a derivative liability based on the aggregate fair value of the embedded conversion features on the date of issuance, which reduced the net carrying value of the Series A Preferred Stock. The carrying value of the Series A Preferred Stock at the time of issuance, $155 million ($200 million aggregate gross proceeds less $43 million allocated to the derivative liability and $2 million in transaction costs), was 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, November 15, 2021. Extinguishment of Series A Preferred Stock The carrying value, including the fair value of the embedded derivative liability, of the Series A Preferred Stock prior to extinguishment approximated $203 million. Upon repurchase and exchange of the Series A Preferred Stock, Kodak recorded $8 million as a deemed dividend to Additional paid in capital in the Consolidated Statement of Financial Position, representing the difference between the fair value of consideration transferred and the carrying value of the Series A Preferred Stock. Dividend and Other Rights The holders of Series A Preferred Stock were entitled to cumulative dividends payable quarterly in cash at a rate of 5.50% per annum. Until the third 2018 No third fourth 2018 first second 2019. second 2019, July 2020, four Series B Preferred Stock The fair value of the Series B Preferred Stock at the time of issuance approximated $95 million. The Company has classified the Series B Preferred Stock as temporary equity in the Consolidated Statement of Financial Position. Dividend and Other Rights On February 25, 2021, six one 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 are 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 has the right to cause the mandatory conversion of the Series B Preferred Stock into shares of Common 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 concluded that the Series B Preferred Stock was more akin to a debt-type instrument and that the economic characteristics and risks of the conversion option upon a fundamental change by the holder was not 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 December 31, 2023 2022 13, The carrying value of the Series B Preferred Stock at the time of issuance, $93 million ($95 million fair value of Series B Preferred Stock on February 26, 2021 $1 May 28, 2026. Redemption Features If any shares of Series B Preferred Stock have not May 28, 2026 ( not Series B Registration Rights Agreement On November 15, 2016, Series C Preferred Stock Purchase Agreement On February 26, 2021, February 26, 2021. March 30, 2021 Dividend and Other Rights On February 25, 2021, not Holders of Series C Preferred Stock are entitled to vote together with the holders of the Common Stock as a single class, in each case, on an as-converted basis, except where a separate class vote is required by law. Holders of Series C Preferred Stock have certain limited special approval rights, including with respect to the issuance of pari passu or senior equity securities of the Company. Pursuant to the Purchase Agreement, the Investor has the right to nominate one third not one May 19, 2021. third 2023 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 are 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 has 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 concluded that the Series C Preferred Stock is more akin to a debt-type instrument and that the economic characteristics and risks of the conversion option upon a fundamental change by the holder is not 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 both December 31, 2023 2022 13, The carrying value of the Series C Preferred Stock at the time of issuance, $97 million ($100 million aggregate gross proceeds less $2 million allocated to the derivative liability and $1 million in transaction costs) 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. Redemption Features If any shares of Series C Preferred Stock have not two not Series C Registration Rights Agreement On February 26, 2021, |
Note 10 - Leases
Note 10 - Leases | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Leases as Lessee and Lessor Disclosure[Text Block] | NOTE 10: Kodak as lessee The table below presents the lease-related assets and liabilities on the balance sheet: Classification in the December 31, (in millions) Consolidated Statement of Financial Position 2023 2022 Assets Operating lease assets Operating lease right-of-use assets $ 30 $ 39 Finance lease assets Property, plant and equipment, net 1 1 Total lease assets $ 31 $ 40 Liabilities Current Operating Current portion of operating leases $ 13 $ 15 Noncurrent Operating Operating leases, net of current portion 24 31 Finance Long-term debt, net of current portion 1 1 Total lease liabilities $ 38 $ 47 Lease Costs The table below presents certain information related to the lease expense for finance and operating leases. Lease expense is presented gross of sublease income. See “Kodak as Lessor” section below for income from subleases. Year Ended December 31, (in millions) 2023 2022 2021 Finance lease expense Amortization of leased assets $ 1 $ 1 $ 1 Interest on lease liabilities — — — Operating lease expense 16 17 19 Variable lease expense (1) 7 7 9 Total lease expense $ 24 $ 25 $ 29 ( 1 Variable lease expense is related to real estate leases and primarily includes taxes, insurance and operating costs. Other Information The table below presents supplemental information related to leases. Changes in operating lease liabilities and operating lease assets are included in Increase (decrease) in liabilities excluding borrowings and trade payables, and Other items, net, respectively, in the Consolidated Statement of Cash Flows. Year Ended December 31, (in millions) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 20 $ 19 $ 21 Operating cash flow for finance leases — — — Financing cash flow for finance leases 1 1 1 Total $ 21 $ 20 $ 22 Weighted-average remaining lease term (in years) Operating 5 5 5 Finance 3 3 2 Weighted-average discount rate Operating 13.22 % 12.17 % 11.91 % Finance 6.42 % 5.18 % 5.56 % Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for the next five Undiscounted future cash flows: (in millions) Operating Leases Finance Leases 2024 $ 17 $ — 2025 8 1 2026 6 — 2027 5 — 2028 5 — Thereafter 13 — Total minimum lease payments 54 1 Less: amount of lease payments representing interest (17 ) — Present value of future minimum lease payments 37 1 Less: current obligations under leases 13 — Long-term lease obligations $ 24 $ 1 At December 31, 2023 not not Kodak as Lessor Kodak’s net investment in sales-type leases as of December 31, 2023 2022 one The table below reconciles the undiscounted cash flows to be received for the next five (in millions) 2024 $ 1 2025 1 2026 and thereafter 1 Total minimum lease payments 3 Less: unearned interest — Net investment in sales-type leases $ 3 Undiscounted cash flows to be received for the next five (in millions) 2024 $ 9 2025 5 2026 3 2027 2 2028 2 Thereafter 6 Total minimum lease payments $ 27 Income recognized on lease arrangements for the years ended December 31, 2023, 2022 2021 Year Ended December 31, (in millions) 2023 2022 2021 Lease income - sales-type leases $ 1 $ 1 $ 3 Lease income - operating leases 9 8 8 Variable lease income (1) 5 5 5 Total lease income $ 15 $ 14 $ 16 ( 1 Variable lease income primarily represents operating costs under real estate leases and incremental variable income based on usage under equipment leases. Equipment subject to operating leases and the related accumulated depreciation were as follows: As of December 31, (in millions) 2023 2022 Equipment subject to operating leases $ 26 $ 19 Accumulated depreciation (18 ) (16 ) Equipment subject to operating leases, net $ 8 $ 3 Equipment subject to operating leases, net is included in Property, plant and equipment, net in the Consolidated Statement of Financial Position. |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 11: Asset Retirement Obligations Kodak’s asset retirement obligations primarily relate to asbestos contained in buildings that Kodak owns. In many of the countries in which Kodak operates, environmental regulations exist that require Kodak to handle and dispose of asbestos in a special manner if a building undergoes major renovations or is demolished. Otherwise, Kodak is not not may The following table provides asset retirement obligation activity (in millions) (there was no 2023 For the Year Ended December 31, (in millions) 2023 2022 Asset Retirement Obligations at start of period $ 43 $ 42 Liabilities incurred in the current period — 1 Liabilities settled in the current period — (2 ) Revision in estimated cash flows — 2 Asset Retirement Obligations at end of period $ 43 $ 43 Other Commitments and Contingencies As of December 31, 2023 Kodak’s Brazilian operations are involved in various litigation matters 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 and income taxes. Kodak’s Brazilian operations are disputing these matters and intend to vigorously defend their position. Kodak routinely assesses 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 December 31, 2023 may In connection with assessments in Brazil, local regulations require Kodak to post security for a portion of the amounts in dispute. As of December 31, 2023 The Company has received five July 28, 2020 ( On 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. November 14, 2022, December 27, 2022 December 23, 2022, August 9, 2023, September 26, 2023. October 25, 2023. Additional shareholder derivative lawsuits may no not 8 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 and pursuant to a special process under New York law, in 2021 2022, 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 12 - Guarantees
Note 12 - Guarantees | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Guarantees [Text Block] | NOTE 12: In accordance with the terms of a settlement agreement concerning certain of the Company’s historical environmental liabilities at EBP, in the event the historical liabilities exceed $99 million, the Company will become liable for 50% of the portion above $99 no no Indemnifications Kodak may, third not December 31, 2023 not Extended Warranty Arrangements Kodak offers its customers extended warranty arrangements that are generally one may three six not not (in millions) Deferred revenue on extended warranties as of December 31, 2021 $ 19 New extended warranty and maintenance arrangements 89 Recognition of extended warranty and maintenance arrangement revenue (89 ) Deferred revenue on extended warranties as of December 31, 2022 19 New extended warranty and maintenance arrangements 87 Recognition of extended warranty and maintenance arrangement revenue (89 ) Deferred revenue on extended warranties as of December 31, 2023 $ 17 Costs incurred under these extended warranty and maintenance arrangements for the years ended December 31, 2023, 2022 2021 |
Note 13 - Financial Instruments
Note 13 - Financial Instruments | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 13: 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 Kodak’s exposure to changes in interest rates results from its investing and borrowing activities used to meet its liquidity needs. Kodak does not Kodak’s foreign currency forward contracts are not December 31, 2023 2022 December 31, 2023 2022 Year Ended December 31, (in millions) 2023 2022 2021 Net loss (gain) from derivatives not designated as hedging instruments $ 12 $ 16 $ (1 ) Kodak had no derivatives designated as hedging instruments for the years ended December 31, 2023 2022 December 31, 2023 not 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 As discussed in Note 8, not not third 2023. July 21, 2023 December 31, 2022 As discussed in Note 9, not December 31, 2023 2022 The Company concluded that the Series A Preferred Stock was more akin to a debt-type instrument and that the economic characteristics and risks of the embedded conversion features, except where the conversion price was increased to the liquidation preference, were not not second February 26, 2021 one million one million February 26, 2021 The net effect of the Preferred Stock and Convertible Notes embedded derivatives in the results of operations is shown in the following table: Year Ended December 31, (in millions) 2023 2022 2021 Net loss (gain) from Preferred Stock and Convertible Notes embedded derivatives $ 2 $ (3 ) $ (7 ) Fair Value Fair values of Kodak’s foreign currency forward contracts are determined using observable inputs (Level 2 December 31, 2023 2022 December 31, 2023 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: Convertible Notes: Valuation Date July 21, December 31, 2023 2022 Total value of embedded derivative liability (in millions) $ 5 $ 2 Kodak's closing stock price $ 5.26 $ 3.05 Expected stock price volatility 60.00 % 50.00 % Risk free rate 4.50 % 4.17 % Implied credit spread on the Convertible Notes 17.75 % 26.19 % Series B Preferred Stock: Valuation Date December 31, 2023 2022 Total value of embedded derivative liability (in millions) $ 1 $ 1 Kodak's closing stock price $ 3.90 $ 3.05 Expected stock price volatility 60.00 % 50.00 % Risk free rate 4.14 % 4.17 % Implied credit spread on the Series B Preferred Stock 18.34 % 27.19 % Series C Preferred Stock: Valuation Date December 31, 2023 2022 Total value of embedded derivative liability (in millions) $ 1 $ 1 Kodak's closing stock price $ 3.90 $ 3.05 Expected stock price volatility 60.00 % 50.00 % Risk free rate 4.14 % 4.17 % Implied credit spread on the Series C Preferred Stock 20.34 % 29.19 % The Fundamental Change Conversion 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 or the Series B and Series C Preferred Stock is redeemed on its redemption date and the values of the other embedded derivatives. The Fundamental Change Conversion value reduces the value of the embedded conversion features derivative liability. Other than events which alter the likelihood of a fundamental change, the value of the Fundamental Change Conversion reflects the value as of the issuance date, amortized for the passage of time. The calculation of the Fundamental Change or Reorganization Conversion values for the Series A Preferred Stock was the same as the calculation described above for the Fundamental Change Conversion values for the Convertible Notes and Series B and C Preferred Stock. The fair values of long-term borrowings were $396 million and $271 million at December 31, 2023 2022 2 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 December 31, 2023 The carrying values of cash and cash equivalents, restricted cash and the current portion of long-term borrowings approximate their fair values. |
Note 14 - Revenue
Note 14 - Revenue | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 14: Disaggregation of Revenue The following tables present revenue disaggregated by major product, portfolio summary and geography (in millions). Major product: Year Ended December 31, 2023 Advanced Materials and (in millions) Print Chemicals Brand Other Total Core products and services (1) Plates, inks and other consumables $ 571 $ 26 $ — $ — $ 597 Ongoing service arrangements 185 — — — 185 Total annuities 756 26 — — 782 Equipment & Software 72 — — — 72 Film and chemicals — 215 — — 215 Total core products and services 828 241 — — 1,069 Growth products (2) — 14 — — 14 Other (3) — — 17 17 34 Total $ 828 $ 255 $ 17 $ 17 $ 1,117 Year Ended December 31, 2022 Advanced Materials and (in millions) Print Chemicals Brand Other Total Core products and services (1) Plates, inks and other consumables $ 652 $ 26 $ — $ — $ 678 Ongoing service arrangements 205 — — — 205 Total annuities 857 26 — — 883 Equipment & Software 81 — — — 81 Film and chemicals — 192 — — 192 Total core products and services 938 218 — — 1,156 Growth products (2) — 16 — — 16 Other (3) — - 17 16 33 Total $ 938 $ 234 $ 17 $ 16 $ 1,205 Year Ended December 31, 2021 Advanced Materials and (in millions) Print Chemicals Brand Other Total Core products and services (1) Plates, inks and other consumables $ 599 $ 22 $ — $ — $ 621 Ongoing service arrangements 213 — — — 213 Total annuities 812 22 — — 834 Equipment & Software 96 — — — 96 Film and chemicals — 180 — — 180 Total core products and services 908 202 — — 1,110 Growth products (2) — 9 — — 9 Other (3) — 1 15 15 31 Total $ 908 $ 212 $ 15 $ 15 $ 1,150 ( 1 Core products and services includes the Print segment and the Motion Picture and Industrial Film and Chemicals businesses within the Advanced Materials and Chemicals segment, excluding coating and product commercialization services (“Coating Services”). ( 2 Growth products consist of Coating Services and Advanced Materials and Functional Printing within the Advanced Materials and Chemicals segment. ( 3 Other consists of Intellectual Property Licensing ("IP Licensing"), Brand Licensing and Eastman Business Park. Geography ( 1 : Year Ended December 31, 2023 Advanced Materials and (in millions) Print Chemicals Brand Other Total United States $ 250 $ 199 $ 17 $ 17 $ 483 Canada 17 2 — — 19 North America 267 201 17 17 502 Europe, Middle East and Africa 360 20 — — 380 Asia Pacific 178 33 — — 211 Latin America 23 1 — — 24 Total Sales $ 828 $ 255 $ 17 $ 17 $ 1,117 Year Ended December 31, 2022 Advanced Materials and (in millions) Print Chemicals Brand Other Total United States $ 276 $ 177 $ 17 $ 16 $ 486 Canada 20 2 — — 22 North America 296 179 17 16 508 Europe, Middle East and Africa 410 19 — — 429 Asia Pacific 199 35 — — 234 Latin America 33 1 — — 34 Total Sales $ 938 $ 234 $ 17 $ 16 $ 1,205 Year Ended December 31, 2021 Advanced Materials and (in millions) Print Chemicals Brand Other Total United States $ 244 $ 152 $ 15 $ 15 $ 426 Canada 20 2 — — 22 North America 264 154 15 15 448 Europe, Middle East and Africa 387 17 — — 404 Asia Pacific 224 41 — — 265 Latin America 33 — — — 33 Total Sales $ 908 $ 212 $ 15 $ 15 $ 1,150 ( 1 Sales are reported in the geographic area in which they originate. No 10% December 31, 2023, 2022 2021 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 amounts recorded for contract assets are reported in Other current assets in the Consolidated Statement of Financial Position. The contract liabilities primarily relate to brand licensing agreements, prepaid service contracts or upfront payments for certain equipment purchases. The amounts recorded for contract liabilities are reported in Other current liabilities and Other long-term liabilities in the Consolidated Statement of Financial Position. Contract assets and liabilities consisted of the following: As of December 31, (in millions) 2023 2022 Contract assets $ 1 $ 1 Contract liabilities - current 37 40 Contract liabilities - long-term 63 11 Total $ 100 $ 51 Activity in deferred revenue accounts consisted of: Year Ended December 31, (in millions) 2023 2022 2021 Beginning liabilities recognized in revenue $ 33 $ 38 $ 37 Cash payments received, net of revenue recognized 39 30 28 |
Note 15 - Other Operating Incom
Note 15 - Other Operating Income, Net | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Other Operating Income and Expense [Text Block] | NOTE 15: Year Ended December 31, (in millions) 2023 2022 2021 Asset impairments (1) (2) $ 5 $ 1 $ — Legal settlements — (1 ) (7 ) Loss related to the sales of assets — — 1 Other 1 (1 ) — Total $ 6 $ (1 ) $ (6 ) ( 1 In the fourth 2023, 3 ( 2 In the fourth 2022, 5, |
Note 16 - Other Charges (Income
Note 16 - Other Charges (Income), Net | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | NOTE 16: Year Ended December 31, (in millions) 2023 2022 2021 Interest income (1) $ (15 ) $ (1 ) $ (1 ) Change in fair value of embedded conversion features derivative (2) 2 (3 ) (7 ) Loss on foreign exchange transactions 9 4 2 Other 3 1 1 Total $ (1 ) $ 1 $ (5 ) ( 1 Includes $9 million of interest income associated with a refund received in the first 2023 ( 2 Refer to Note 13, |
Note 17 - Income Taxes
Note 17 - Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 17: The components of earnings (loss) from continuing operations before income taxes and the related provision for U.S. and other income taxes were as follows (in millions): Year Ended December 31, (in millions) 2023 2022 2021 Earnings (loss) from continuing operations before income taxes: U.S. $ 36 $ (2 ) $ (12 ) Outside the U.S. 51 33 40 Total $ 87 $ 31 $ 28 U.S. income taxes: Deferred benefit (1 ) (3 ) (1 ) Income taxes outside the U.S.: Current provision 12 7 4 Deferred provision 1 1 1 Total provision $ 12 $ 5 $ 4 The differences between income taxes computed using the U.S. federal income tax rate and the provision for income taxes for continuing operations were as follows (in millions): Year Ended December 31, (in millions) 2023 2022 2021 Amount computed using the statutory rate $ 18 $ 7 $ 6 Increase (reduction) in taxes resulting from: Unremitted foreign earnings 1 (2 ) (1 ) Operations outside the U.S. 13 4 8 Legislative tax law and rate changes — — (28 ) Valuation allowance (19 ) (9 ) 20 Tax settlements and adjustments, including interest — 4 (1 ) Other, net (1 ) 1 — Provision for income taxes $ 12 $ 5 $ 4 The significant components of deferred tax assets and liabilities were as follows (in millions): As of December 31, (in millions) 2023 2022 Deferred tax assets Restructuring programs $ 1 $ 2 Leasing 2 3 Foreign tax credit 281 358 Inventories 11 14 Investment tax credit 25 26 Employee deferred compensation 23 22 Depreciation 31 33 Research and development costs 42 42 Tax loss carryforwards 529 506 Other deferred revenue 2 2 Other 79 74 Total deferred tax assets before valuation allowances $ 1,026 $ 1,082 Valuation allowances (778 ) (826 ) Total net deferred tax assets $ 248 $ 256 Deferred tax liabilities Pension and postretirement obligations $ (251 ) $ (258 ) Goodwill/intangibles (8 ) (8 ) Unremitted foreign earnings (16 ) (17 ) Total deferred tax liabilities (275 ) (283 ) Net deferred tax liabilities $ (27 ) $ (27 ) Deferred tax liabilities are reported in the following component within the Consolidated Statement of Financial Position (in millions): As of December 31, (in millions) 2023 2022 Other long-term liabilities $ (27 ) $ (27 ) Net deferred tax liabilities $ (27 ) $ (27 ) As of December 31, 2023, not 2024 2042. 2024 2035. 2024 no As of December 31, 2023, no Kodak’s ability to utilize its U.S. NOLs and tax credits may 382 382 five three 5% 50 Kodak’s intent is to repatriate its offshore earnings when prudent. As such, it has recorded deferred tax liabilities of $16 million and $17 million for potential taxes on undistributed earnings, primarily attributable to foreign withholding taxes, as of December 31, 2023 2022, Kodak’s valuation allowance as of December 31, 2023 not not Kodak’s valuation allowance as of December 31, 2022 not not Accounting for Uncertainty in Income Taxes A reconciliation of the beginning and ending amount of Kodak’s liability for income taxes associated with unrecognized tax benefits is as follows (in millions): Year Ended December 31, (in millions) 2023 2022 2021 Balance as of January 1 $ 3 $ 4 $ 8 Tax positions related to the current year: Additions — — — Tax positions related to prior years: Additions 1 1 — Reductions (1 ) (2 ) (1 ) Settlements with taxing jurisdictions (1 ) — (3 ) Balance as of December 31 $ 2 $ 3 $ 4 Kodak’s policy regarding interest and/or penalties related to income tax matters is to recognize such items as a component of provision for income taxes. Kodak had approximately $10 million of interest and penalties associated with uncertain tax benefits accrued as of December 31, 2023 2022. Kodak had uncertain tax benefits of approximately $13 million as of December 31, 2023 2022, It is reasonably possible that the liability associated with Kodak’s unrecognized tax benefits will increase or decrease within the next twelve may Although management believes that adequate provision has been made for such issues, there is the possibility that the ultimate resolution of such issues could have an adverse effect on the earnings of Kodak. Conversely, if these issues are resolved favorably in the future, the related provision would be reduced, thus having a positive impact on earnings. During 2023, 2013 2017 During 2022, 2015 2018 Kodak is subject to taxation and files income tax returns in the U.S. federal jurisdiction and in many state and foreign jurisdictions. Kodak has substantially concluded all U.S. federal income tax matters for years through 2018 2015 2013 |
Note 18 - Restructuring Costs a
Note 18 - Restructuring Costs and Other | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 18: Kodak recognizes the need to continually rationalize its workforce and streamline its operations in the face of ongoing business and economic changes. Charges for restructuring initiatives are recorded in the period in which Kodak commits to a formalized restructuring plan, or executes the specific actions contemplated by the plan and all criteria for liability recognition under the applicable accounting guidance have been met. The activity incurred in relation to restructuring programs during the three December 31, 2023 Inventory Severance Exit Costs Write- (in millions) Reserve (1) Reserve (1) downs (1) Total Balance as of December 31, 2020 $ 10 $ 1 $ — $ 11 Charges 6 — — 6 Utilization/cash payments (10 ) — — (10 ) Other adjustments & reclasses (2) (2 ) — — (2 ) Balance as of December 31, 2021 4 1 — 5 Charges 6 4 3 13 Utilization/cash payments (6 ) — (3 ) (9 ) Other adjustments & reclasses (2) (2 ) — — (2 ) Balance as of December 31, 2022 2 5 — 7 Charges 8 (1 ) 3 10 Utilization/cash payments (6 ) (3 ) (3 ) (12 ) Balance as of December 31, 2023 $ 4 $ 1 $ — $ 5 ( 1 The severance and exit costs reserves require the outlay of cash. Inventory write-downs are non-cash items. ( 2 The $2 million in 2022 2021 2021 Restructuring actions taken in 2021 As a result of these actions, for the year ended December 31, 2021 The 2021 2022 Restructuring actions taken in 2022 As a result of these actions, for the year ended December 31, 2022 The 2022 2022 December 31, 2022. 2023 Restructuring actions taken in 2023 As a result of these actions, for the year ended December 31, 2023 The 2023 As a result of these initiatives, the majority of the severance and exit cost liabilities as of December 31, 2023 second 2024. |
Note 19 - Retirement Plans
Note 19 - Retirement Plans | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 19: Substantially all U.S. employees are covered by a noncontributory defined benefit plan, the Kodak Retirement Income Plan (“KRIP” or the "U.S. Plan"), which is funded by Company contributions to an irrevocable trust fund. The funding policy for KRIP is to contribute amounts sufficient to meet minimum funding requirements as determined by employee benefit and tax laws plus any additional amounts the Company determines to be appropriate. Assets in the trust fund are held for the sole benefit of participating employees and retirees. For U.S. employees hired prior to March 1999, February 1999, January 1, 2015 30 May 2022, January 1, 2022. one May 2023, one Many subsidiaries and branches operating outside the U.S. have defined benefit retirement plans covering substantially all employees. Contributions by Kodak for these plans are typically deposited under government or other fiduciary-type arrangements. Retirement benefits are generally based on contractual agreements that provide for benefit formulas using years of service and/or compensation prior to retirement. The actuarial assumptions used for these plans reflect the diverse economic environments within the various countries in which Kodak operates. Information on the major funded and unfunded U.S. and Non-U.S. defined benefit pension plans is presented below. The information for the U.S. for all years presented relates to KRIP. The composition of the major Non-U.S. plans may Obligations and Funded Status: The measurement date used to determine the pension obligation for all funded and unfunded U.S. and Non-U.S. defined benefit plans is December 31. Year Ended Year Ended December 31, 2023 December 31, 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Change in Benefit Obligation Projected benefit obligation at beginning of period $ 2,482 $ 577 $ 3,132 $ 816 Service cost 13 2 13 3 Interest cost 117 20 80 9 Benefit payments (283 ) (43 ) (294 ) (44 ) Plan Amendments 29 — 28 — Actuarial loss (gain) 28 12 (479 ) (165 ) Special termination benefits — — 2 — Currency adjustments — 20 — (42 ) Projected benefit obligation at end of period $ 2,386 $ 588 $ 2,482 $ 577 Change in Plan Assets Fair value of plan assets at beginning of period $ 3,659 $ 526 $ 4,105 $ 626 Actual Return on plan assets 170 25 (152 ) (31 ) Employer contributions — 6 — 5 Benefit payments (283 ) (43 ) (294 ) (44 ) Currency adjustments — 14 — (30 ) Fair value of plan assets at end of period $ 3,546 $ 528 $ 3,659 $ 526 Over (under) funded status at end of period $ 1,160 $ (60 ) $ 1,177 $ (51 ) Accumulated benefit obligation at end of period $ 2,384 $ 579 $ 2,482 $ 568 An actuarial loss of $28 million related to the U.S. Plan's projected benefit obligation ("PBO") was recognized in 2023 2023. 2022 2023 2022 The actual return on plan assets for the U.S. Plan was $170 million for the year ended December 31, 2023 December 31, 2022 2023 2022 2023 2022 The weighted-average assumptions used to determine the benefit obligation amounts for all major funded and unfunded U.S. and Non-U.S. defined benefit plans were as follows: As of December 31, 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 4.92 % 3.47 % 5.13 % 3.93 % 2.54 % 1.48 % Salary increase rate 1.50 % 2.06 % 1.00 % 2.71 % 1.00 % 2.39 % Interest crediting rate for cash balance plan 4.00 % NA 4.00 % NA 2.00 % NA Amounts recognized in the Consolidated Statement of Financial Position for all major funded and unfunded U.S. and Non-U.S. defined benefit plans are as follows (in millions): As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Pension and other postretirement assets $ 1,160 $ 42 $ 1,177 $ 42 Pension and other postretirement liabilities — (102 ) — (93 ) Net amount recognized $ 1,160 $ (60 ) $ 1,177 $ (51 ) Information with respect to the major funded and unfunded U.S. and Non-U.S. defined benefit plans with a projected benefit obligation in excess of the fair value of plan assets is as follows (in millions): As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Projected benefit obligation $ — $ 406 $ — $ 209 Fair value of plan assets — 304 — 116 Information with respect to the major funded and unfunded U.S. and Non-U.S. defined benefit plans with an accumulated benefit obligation in excess of the fair value of plan assets is as follows (in millions): As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Accumulated benefit obligation $ — $ 397 $ — $ 201 Fair value of plan assets — 304 — 116 Amounts recognized in accumulated other comprehensive income (loss) in shareholders’ equity for all major funded and unfunded U.S. and Non-U.S. defined benefit plans consist of (in millions): As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Prior service (cost) credit $ (45 ) $ 2 $ (25 ) $ 2 Net actuarial gain (loss) 449 (52 ) 594 (43 ) Total $ 404 $ (50 ) $ 569 $ (41 ) Other changes in major plan assets and benefit obligations recognized in Other comprehensive (loss) income are as follows (in millions): Year Ended December 31, 2023 2022 2021 (in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Newly established (loss) gain $ (115 ) $ (7 ) $ 149 $ 120 $ 635 $ (4 ) Newly established prior service cost (29 ) — (28 ) — — — Amortization of: Prior service cost (credit) 9 — (3 ) — (7 ) — Net actuarial (gain) loss (30 ) 1 — 10 30 9 Total (loss) income recognized in Other comprehensive (loss) income $ (165 ) $ (6 ) $ 118 $ 130 $ 658 $ 5 For the year ended December 31, 2023 December 31, 2022 Pension (Income) Expense: Pension (income) expense for all defined benefit plans included (in millions): Year Ended December 31, 2023 2022 2021 (in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Major defined benefit plans: Service cost $ 13 $ 2 $ 13 $ 3 $ 11 $ 3 Interest cost 117 20 80 9 47 5 Expected return on plan assets (257 ) (20 ) (178 ) (14 ) (167 ) (15 ) Amortization of: Prior service cost (credit) 9 — (3 ) — (7 ) — Actuarial (gain) loss (30 ) 1 — 10 30 9 Pension (income) expense before special termination benefits (148 ) 3 (88 ) 8 (86 ) 2 Special termination benefits — — 2 — 2 — Net pension (income) expense for major defined benefit plans (148 ) 3 (86 ) 8 (84 ) 2 Other plans including unfunded plans — 1 — — — (2 ) Net pension (income) expense $ (148 ) $ 4 $ (86 ) $ 8 $ (84 ) $ — The special termination benefits for each of the years ended December 31, 2022 2021 The weighted-average assumptions used to determine net pension (income) expense for all the major funded and unfunded U.S. and Non-U.S. defined benefit plans were as follows: Year Ended December 31, 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Effective rate for service cost 5.04 % 3.44 % 3.45 % 1.60 % 2.11 % 1.17 % Effective rate for interest cost 5.02 % 3.80 % 2.97 % 1.20 % 1.42 % 0.70 % Salary increase rate 1.00 % 2.71 % 1.00 % 2.39 % 3.50 % 1.56 % Expected long-term rate of return on plan assets 7.50 % 4.16 % 5.30 % 2.67 % 5.20 % 2.56 % Interest crediting rate for cash balance plan 3.85 % NA 2.58 % NA 1.75 % NA The expected return on plan assets (“EROA”) is a long-term rate of return which is based on a combination of formal asset and liability studies that include forward-looking return expectations given the current asset allocation. Kodak uses the spot yield curve approach to estimate the service and interest costs by applying the specific spot rates along the yield curve used to determine the benefit obligations to relevant projected cash outflows. Plan Asset Investment Strategy The investment strategy underlying the asset allocation for the pension assets is to achieve an optimal return on assets with an acceptable level of risk while providing for the long-term liabilities and maintaining sufficient liquidity to pay current benefits and other cash obligations of the plans. This is primarily achieved by investing in a broad portfolio constructed of various asset classes including equity, debt, real estate, private equity, hedge funds and other assets and instruments. In addition, the U.S. Plan uses derivative investments primarily to hedge liability interest rate risk to U.S. government bonds. Other investment objectives include maintaining broad diversification between and within asset classes and investment managers and managing asset volatility relative to plan liabilities. Every three Actual allocations may Plan Asset Risk Management Kodak evaluates its defined benefit plans’ asset portfolios for the existence of significant concentrations of risk. Types of concentrations that are evaluated include, but are not December 31, 2023 2022 two 10% The Company’s weighted-average asset allocations for its major U.S. defined benefit pension plan by asset category, are as follows: As of December 31, 2023 2022 2023 Target Asset Category Debt securities 20 % 20 % 18-24% Real estate 0 % 1 % 0% Cash and cash equivalents 5 % 7 % 0-10% Private equity 31 % 30 % 23-28% Hedge funds (1) 44 % 42 % 46-58% Total 100 % 100 % ( 1 The 2023 Kodak’s weighted-average asset allocations for its major Non-U.S. defined benefit pension plans by asset category, are as follows: As of December 31, 2023 2022 2023 Target Asset Category Equity securities 6 % 6 % 0-10% Debt securities 16 % 16 % 10-20% Real estate 2 % 2 % 0-5% Cash and cash equivalents 2 % 4 % 0-5% Hedge Funds 6 % 4 % 0-10% Private equity 8 % 8 % 0-10% Insurance contracts 60 % 60 % 25-75% Total 100 % 100 % Derivative Investments The U.S. Plan derivative instruments consist primarily of direct investments in exchange traded futures contracts. Government bond exposure is obtained via U.S. government bond futures. Foreign currency futures contracts are used to partially hedge foreign currency risk. As of December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 The U.S. Plan invests in a diversified portfolio of hedge funds that may Fair Value Measurements Kodak’s plan assets are accounted for at fair value and are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement, with the exception of investments for which fair value is measured using the net asset value (“NAV”) per share expedient. Kodak’s assessment of the significance of a particular input to the fair value measurement requires judgment and may The fair value of Kodak’s U.S. defined benefit pension plan assets at December 31, 2023 2022 U.S. Plan December 31, 2023 U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents (1) $ 164 $ — $ — $ — $ 164 Debt Securities: (2) Government bonds — 32 — — 32 Investment grade bonds — 682 — — 682 Real estate — — — 18 18 Other: Hedge funds — — — 1,552 1,552 Private Equity — — 3 1,094 1,097 Derivatives with unrealized gains 1 — — — 1 $ 165 $ 714 $ 3 $ 2,664 $ 3,546 U.S. Plan December 31, 2022 U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents (1) $ 251 $ — $ — $ — $ 251 Debt Securities: (2) Government bonds — 39 — — 39 Investment grade bonds — 717 — — 717 Real estate — — — 29 29 Other: Hedge funds — — — 1,528 1,528 Private Equity — — 3 1,092 1,095 $ 251 $ 756 $ 3 $ 2,649 $ 3,659 Assets not ( 1 Cash and cash equivalents are primarily held in short term investment funds and are used for benefit and fee payments, as well as for margin and liquidity requirements associated with the U.S. Plan’s derivative instrument contracts. ( 2 Debt securities are traded on an active market and are valued using a market approach based on the closing price on the last business day of the year. Investments Valued at NAV Kodak performs an investment-by-investment analysis to determine if the investment meets the requirements to be measured at NAV. For investments with lagged pricing, Kodak uses the latest available net asset values and considers expected return and other relevant material events for the year-end valuation of these investments. The total fair value, unfunded commitments and redemption provisions for the U.S defined benefit pension plan’s investments valued at NAV are as follows: Investments Valued at NAV at December 31, 2023 Unfunded Redemption Redemption (in millions): Fair Value Commitments Frequency Notice Period Real estate $ 18 $ — N/A N/A Private equity 1,094 172 N/A N/A Hedge Funds 1,552 — Bi-Monthly, Monthly, Quarterly, Semi-Annual, and Annual 5-365 days Total $ 2,664 $ 172 Investments Valued at NAV at December 31, 2022 Unfunded Redemption Redemption (in millions): Fair Value Commitments Frequency Notice Period Real estate $ 29 $ — N/A N/A Private equity 1,092 229 N/A N/A Hedge Funds 1,528 26 Bi-Monthly, Monthly, Quarterly, Semi-Annual, and Annual 5-365 days Total $ 2,649 $ 255 Real estate investments primarily include investments in limited partnerships that invest in office, industrial, retail and apartment properties. Investments are primarily valued by the fund manager based on independent appraisals, discounted cash flow models, cost and comparable market transactions. The term of each fund is typically 10 not Private equity investments are primarily comprised of direct limited partnerships and fund-of-fund investments that invest in distressed investments, venture capital, leveraged buyouts and special situations. Private equity investments are valued by the fund manager primarily based on independent appraisals, discounted cash flow models, cost, and comparable market transactions. The term of each fund is typically 10 not The U.S. Plan invests in a portfolio of hedge funds to supplement the return generated by its exchange traded futures contracts as well as in a separate portfolio of hedge funds where the objective is to seek a higher absolute return. Hedge fund investments are made through direct investments in individual hedge funds. The hedge fund investments substantially consist of a diversified portfolio of hedge funds that use equity, debt, commodity, currency strategies and derivative instruments. The U.S. defined benefit pension plan evaluates several factors for investing in hedge funds including investment strategy, return, risk, liquidity, correlation to other funds and the number of funds to achieve a diversified portfolio of hedge funds. Hedge funds are typically valued by each fund’s third December 31, 2023 2022 The tables below summarize Kodak’s U.S. Plan investments in hedge funds by type for those investments valued at NAV: U.S. Plan: December 31, 2023 Redemption Redemption (in millions) Net Asset Value Frequency Notice Period Multi-strategy hedge funds $ 509 Quarterly 45-90 days Relative value hedge funds 342 Bi-monthly, Quarterly 6-120 days Directional hedge funds 143 Monthly 5 days Equity long/short hedge funds 264 Monthly, Quarterly 45-90 days Sector specialist hedge funds 120 Quarterly, Semi-Annually 60-90 days Long-biased hedge funds 160 Quarterly, Annually 60-90 days Event driven hedge funds 14 Quarterly 90 days $ 1,552 December 31, 2022 Redemption Redemption (in millions) Net Asset Value Frequency Notice Period Multi-strategy hedge funds $ 495 Quarterly 45-90 days Relative value hedge funds 331 Bi-monthly, Quarterly 6-120 days Directional hedge funds 167 Monthly 5 days Equity long/short hedge funds 227 Quarterly 45-90 days Sector specialist hedge funds 135 Quarterly, Semi-Annually 60-90 days Long-biased hedge funds 159 Quarterly, Annually 60-90 days Event driven hedge funds 14 Quarterly 90 days $ 1,528 Hedge funds typically have the right to restrict redemption requests beyond Kodak’s control. In these cases, redemptions may no December 31, 2023 2022 Liquidity Approximately 31% December 31, 2023 The total unfunded commitments, if and when they are called over the term of each investment, are expected to be funded by the available liquidity in the U.S. Plan consistent with historical experience. The fair value of Kodak’s major non-U.S. defined benefit pension plans assets at December 31, 2023 2022 Major Non-U.S. Plans December 31, 2023 Non - U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents $ 13 $ — $ — $ — $ 13 Equity securities 33 — — — 33 Debt securities: Investment grade bonds 35 45 — — 80 Global high yield & emerging market debt 2 — — — 2 Real estate — — — 11 11 Other: Hedge Funds — — — 29 29 Private equity — — — 42 42 Insurance contracts — 30 287 — 317 Derivatives with unrealized gains 1 — — — 1 $ 83 $ 75 $ 287 $ 82 $ 527 Major Non-U.S. Plans December 31, 2022 Non - U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents $ 21 $ — $ — $ — $ 21 Equity securities 31 — — — 31 Debt securities: Investment grade bonds 35 45 — — 80 Global high yield & emerging market debt 2 — — — 2 Real estate — — — 11 11 Other: Hedge Funds — — — 20 20 Private equity — — — 43 43 Insurance contracts — 29 289 — 318 $ 89 $ 74 $ 289 $ 74 $ 526 For Kodak’s major non-U.S. defined benefit pension plans, equity investments are invested broadly in local equity, developed international and emerging markets. Fixed income investments are comprised primarily of government and investment grade corporate bonds. Real estate investments primarily include investments in limited partnerships that invest in office, industrial, and retail properties. Global Balanced Asset Allocation investments are commingled funds that hold a diversified portfolio of passive market exposures, including equities, debt, currencies and commodities. Hedge fund investments are comprised of a diversified portfolio of hedge funds using equity, debt, commodity and currency instruments. Private equity investments are comprised of limited partnerships and fund-of-fund investments that invest in distressed investments, venture capital and leveraged buyouts. Insurance contracts are typically annuities from life insurance companies covering specific pension obligations. For investments in real estate and private equity funds, the investors do not no December 31, 2023 2022 Of the December 31, 2023 2022 no The following is a reconciliation of the beginning and ending balances of level 3 U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2023 Still Held Period Settlements 2023 Private Equity 3 — — — 3 Total $ 3 $ — $ — $ — $ 3 U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2022 Still Held Period Settlements 2022 Private Equity — — — 3 3 Total $ — $ — $ — $ 3 $ 3 U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2021 Still Held Period Settlements 2021 Private Equity 5 (5 ) — — — Total $ 5 $ (5 ) $ — $ — $ — Non - U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2023 Still Held Period Settlements 2023 Insurance Contracts 289 (2 ) — — 287 Total $ 289 $ (2 ) $ — $ — $ 287 Non - U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2022 Still Held Period Settlements 2022 Insurance Contracts 342 (53 ) — — 289 Total $ 342 $ (53 ) $ — $ — $ 289 Non - U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2021 Still Held Period Settlements 2021 Insurance Contracts 291 (37 ) — 88 342 Total $ 291 $ (37 ) $ — $ 88 $ 342 The following pension benefit payments, which reflect expected future service, are expected to be paid (in millions): (in millions) U.S. Non-U.S. 2024 $ 263 $ 45 2025 254 43 2026 242 42 2027 230 41 2028 219 40 2029 - 2033 935 184 |
Note 20 - Other Postretirement
Note 20 - Other Postretirement Benefits | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Postemployment Benefits Disclosure [Text Block] | NOTE 20: In Canada, Kodak provides medical, dental, life insurance, and survivor income benefits to eligible retirees. The plan is closed to new participants. Information on the Canada other postretirement benefit plan is presented below. The measurement date used to determine the net benefit obligation for the Canada other postretirement benefit plan is December 31. Changes in Kodak’s benefit obligation and funded status were as follows (in millions): Year Ended December 31, (in millions) 2023 2022 Net benefit obligation at beginning of period $ 43 $ 52 Interest cost 2 1 Actuarial gain — (7 ) Benefit payments (2 ) (3 ) Net benefit obligation at end of period $ 43 $ 43 Underfunded status at end of period (43 ) (43 ) Amounts recognized in the Consolidated Statement of Financial Position consist of (in millions): As of December 31, (in millions) 2023 2022 Other current liabilities $ (3 ) $ (3 ) Pension and other postretirement liabilities (40 ) (40 ) $ (43 ) $ (43 ) Amounts recognized in Accumulated other comprehensive income consist of (in millions): As of December 31, (in millions) 2023 2022 Net actuarial gain $ 10 $ 11 Changes in benefit obligations recognized in Other comprehensive loss (income) consist of (in millions): Year Ended December 31, (in millions) 2023 2022 Newly established gain $ — $ 7 Total gain recognized in Other comprehensive loss (income) $ — $ 7 Other postretirement benefit cost included: Year Ended December 31, (in millions) 2023 2022 2021 Components of net postretirement benefit cost: Service cost $ — $ — $ — Interest cost 2 1 1 Amortization of: Actuarial gain (1 ) — — Other postretirement benefit cost from continuing operations $ 1 $ 1 $ 1 The weighted-average assumptions used to determine the net benefit obligations were as follows: As of December 31, 2023 2022 Discount rate 4.64 % 5.15 % Salary increase rate 1.85 % 2.10 % The weighted-average assumptions used to determine the net postretirement benefit cost were as follows: Year Ended December 31, 2023 2022 2021 Effective rate for interest cost 5.13 % 2.53 % 1.81 % Salary increase rate 2.10 % 1.85 % 1.70 % The weighted-average assumed healthcare cost trend rates used to compute the other postretirement amounts were as follows: 2023 2022 Healthcare cost trend 5.73 % 5.64 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 3.32 % 3.57 % Year that the rate reaches the ultimate trend rate 2040 2043 The following other postretirement benefits, which reflect expected future service, are expected to be paid (in millions): 2024 $ 3 2025 3 2026 3 2027 3 2028 3 2029 - 2033 12 |
Note 21 - Earnings Per Share
Note 21 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 21: Basic earnings per share are calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share calculations include any dilutive effect of potential common shares. In periods with a net loss from continuing operations, 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 years ended December 31, 2023, 2022 2021 Year Ended December 31, (in millions) 2023 2022 2021 Net income attributable to Eastman Kodak Company $ 75 $ 26 $ 24 Less: Preferred Stock cash and accrued dividends (4 ) (4 ) (4 ) Less: Preferred Stock in-kind dividends (5 ) (5 ) (4 ) Less: Preferred Stock deemed dividends (2 ) (2 ) (3 ) Plus: Expiration of Series A embedded derivative — — 11 Less: Earnings attributable to Series C Preferred shareholders (8 ) (2 ) (2 ) Net income available to common shareholders - basic $ 56 $ 13 $ 22 Effect of dilutive securities: Add back: Series B preferred stock cash and deemed dividends $ 5 $ — $ — Net earnings available to common shareholders - diluted $ 61 $ 13 $ 22 Year Ended December 31, 2023 2022 2021 Weighted-average common shares outstanding - basic 79.4 78.9 78.4 Effect of dilutive securities: Unvested restricted stock units and awards 0.9 0.6 0.1 Stock options 0.7 1.1 2.0 Series B Preferred Stock 9.5 — — Weighted-average common shares outstanding - diluted 90.5 80.6 80.5 The computation of diluted earnings per share for the year ended December 31, 2023 1 2 The computation of diluted earnings per share for the year ended December 31, 2022 2021 1 2 3 4 |
Note 22 - Stock-Based Compensat
Note 22 - Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 22: Kodak’s stock incentive plan is the 2013 “2013 2013 Officers, directors and employees of the Company and its consolidated subsidiaries are eligible to receive awards. Stock options are generally non-qualified, are at exercise prices equal to or greater than the closing price of Kodak’s stock on the date of grant and expire seven ten three no may 2013 May 19, 2031. The maximum number of shares of common stock available for grant under the 2013 May 19, 2021, 2013 May 19, 2021, one one 2013 2013 may one 2013 The maximum number of awards that may 2013 may not Compensation expense is recognized on a straight-line basis over the service or performance period for each separately vesting tranche of the award and is adjusted for actual forfeitures before vesting. Kodak assesses the likelihood that performance-based shares will be earned based on the probability of meeting the performance criteria. For those performance-based awards that are deemed probable of achievement, expense is recorded, and for those awards that are deemed not no Restricted Stock Units and Restricted Stock awards Restricted stock units and restricted stock awards are payable in shares of the Company common stock upon vesting. The fair value of restricted stock units and restricted stock awards without a market condition is based on the closing market price of the Company’s stock on the grant date. The following inputs were used for restricted stock units issued in 2023 Year Ended December 31, 2023 Fair value of options granted $ 3.03 Risk-free interest rate 3.80% Term (in years) 3.0 Volatility 60% Weighted-average expected dividend yield 0.00% Compensation cost related to restricted stock units and restricted stock awards was $4 million, $4 million and $5 million for the years ended December 31, 2023, 2022 2021 The weighted average grant date fair value of restricted stock units and awards granted for the years ended December 31, 2023, 2022 2021 December 31, 2023, 2022 2021 December 31, 2023 The following table summarizes information about unvested restricted stock unit and award activity for the year ended December 31, 2023 Restricted Weighted-Average Stock Grant Date Units/Awards Fair Values Outstanding on December 31, 2022 1,140,877 $ 6.30 Granted 2,007,609 $ 3.90 Vested 583,810 $ 6.16 Forfeited 27,092 $ 5.37 Outstanding on December 31, 2023 2,537,584 $ 4.44 In addition to the outstanding unvested restricted stock units and awards per the above table, there are also 368,324 vested restricted stock units outstanding as of December 31, 2023 Stock Options The following table summarizes information about stock option activity for the year ended December 31, 2023 Average Weighted Remaining Aggregate Shares Exercise Contractual Intrinsic Under Price Life Value Option Per Share (Years) ($ millions) Outstanding on December 31, 2022 6,884,311 $ 6.97 Granted 50,000 $ 4.28 Expired 161,203 $ 15.41 Exercised 25,000 $ 3.90 Outstanding on December 31, 2023 6,748,108 $ 6.75 3.35 $ 2 Exercisable on December 31, 2023 6,698,108 $ 6.77 3.33 $ 2 Expected to vest December 31, 2023 6,748,108 $ 6.75 3.35 $ 2 The aggregate intrinsic value represents the total pretax intrinsic value that option holders would have received had all option holders exercised their options on the last trading day of the year. The aggregate intrinsic value is the difference between the Kodak closing stock price on the last trading day of the year and the exercise price, multiplied by the number of in-the-money options. The intrinsic values of options outstanding, exercisable or expected to vest as of December 31, 2023 The weighted average grant date fair value of options granted for the year ended December 31, 2023 no December 31, 2022 2021 December 31, 2023 2022 2021 $2 December 31, 2023, 2022 2021 As of December 31, 2023 There were less than 1 million options exercised in the years ended December 31, 2023 2022 2021 Kodak utilizes the Black-Scholes option valuation model to estimate the fair value of stock options that do not The expected term of options granted is the period of time the options are expected to be outstanding and is calculated using a simplified method based on the option’s vesting period and original contractual term. The Company uses the historical volatility of the Company’s stock to estimate expected volatility. The risk-free rate was based on the yield on U.S. Treasury notes with a term equal to the option’s expected term. The following inputs were used for the valuation of stock option grants issued without a market condition in the year ended December 31, 2023 no December 31, 2022 2021 Year Ended December 31, 2023 Weighted-average fair value of options granted $ 3.48 Weighted-average risk-free interest rate 3.75 % Expected option lives (in years) 4.5 Weighted-average volatility 120 % Expected dividend yield 0.00 % The following inputs were used in the lattice-based valuation of stock option grants issued with a market condition in 2023: Year Ended December 31, 2023 Fair value of options granted $ 2.25 Risk-free interest rate 3.80 % Term (in years) 3.0 Volatility 60 % Weighted-average expected dividend yield 0.00 % On February 16, 2023, 2016 2020 21 No seven ten November 2023 The change in the terms of the awards was accounted for as a modification. As a result of the modification, Kodak recognized $2 million of incremental compensation expense in the year-ended 2023, The fair value of the awards was calculated using a binomial lattice-based valuation model. The key assumptions used in the fair value calculations were: February 16, 2023 Option Award Modifications Immediately Before Immediately After Range of fair values 0.000 -2.1414 1.322 -2.2424 Range of risk-free interest rates 3.82% - 4.99% 3.82% - 4.99% Range of remaining contractual terms (in years) 0.37 - 4.25 3.37 - 7.25 Range of weighted volatilities 66.96% - 103.39% 66.96% - 103.39% Expected dividend yield 0.00% 0.00% Early exercise model 2.5 2.5 Number of times steps 500 500 On February 26, 2021 November 29, 2023 November 30, 2022 ( three February 26, 2027. not February 2019 July 2020 no 2013 February 2019 July 2020 first 2021. |
Note 23 - Shareholders' Equity
Note 23 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | NOTE 23: 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 December 31, 2023 2022 Treasury Stock Treasury stock consisted of approximately 1.0 million and 0.9 million shares at December 31, 2023 2022 Registration Statements On August 10, 2021, 3 No. 254352 ( 1 A registration rights agreement (the “Backstop Registration Rights Agreement”), dated as of September 3, 2013, October 16, 2021, ( 2 A Series A Preferred Stock repurchase and exchange agreement, dated as of February 26, 2021, C2W November 15, 2016, ( 3 A registration rights agreement, dated as of February 26, 2021, February 26, 2021, ( 4 A securities registration rights agreement, dated as of February 26, 2021, May 28, 2026, February 26, 2021, On August 10, 2021, 3 No. 254353 one December 31, 2023 not |
Note 24 - Other Comprehensive (
Note 24 - Other Comprehensive (Loss) Income | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 24: The changes in Other comprehensive (loss) income by component, were as follows: Year Ended December 31, (in millions) 2023 2022 2021 Currency translation adjustments Currency translation adjustments $ (8 ) $ (12 ) $ 6 Pension and other postretirement benefit plan changes Newly established net actuarial (loss) gain (122 ) 277 632 Newly established prior service cost (29 ) (28 ) — Tax benefit — — — Newly established net actuarial (loss) gain, net of tax (151 ) 249 632 Reclassification adjustments: Amortization of prior service credit (cost) (a) 9 (4 ) (7 ) Amortization of actuarial (gains) losses (a) (31 ) 8 37 Recognition of losses due to settlements and curtailments (a) — — (1 ) Total reclassification adjustments (22 ) 4 29 Tax provision — — — Reclassification adjustments, net of tax (22 ) 4 29 Pension and other postretirement benefit plan changes, net of tax (173 ) 253 661 Other comprehensive (loss) income $ (181 ) $ 241 $ 667 (a) Reclassified to Pension income - refer to Note 19, 20, |
Note 25 - Accumulated Other Com
Note 25 - Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accumulated Other Comprehensive Income Loss [Text Block] | NOTE 25: Accumulated other comprehensive income is composed of the following: As of December 31, (in millions) 2023 2022 Currency translation adjustments $ (120 ) $ (112 ) Pension and other postretirement benefit plan changes 401 574 Total $ 281 $ 462 |
Note 26 - Segment Information
Note 26 - Segment Information | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 26: Kodak has three Print: five Advanced Materials and Chemicals four Brand All Other Segment financial information is shown below. Asset information by segment is not not Net Revenues from Continuing Operations by Reportable Segment Year Ended December 31, 2023 2022 2021 (in millions) Print $ 828 $ 938 $ 908 Advanced Materials and Chemicals 255 234 212 Brand 17 17 15 Total of reportable segments 1,100 1,189 1,135 All Other 17 16 15 Total $ 1,117 $ 1,205 $ 1,150 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 table below, Operational EBITDA represents the earnings (loss) from continuing operations before income taxes excluding non-service cost components of pension and other postemployment benefits income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net (unless otherwise indicated); interest expense; loss on early extinguishment of debt and other (charges) income, net. Kodak’s segments are measured using Operational EBITDA both before and after allocation of corporate selling, general and administrative expenses (“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 2023 Change in Segments Effective February 2023 No Segment Operational EBITDA and Consolidated Earnings from Continuing Operations Before Income Taxes Year Ended December 31, (in millions) 2023 2022 2021 Print $ 20 $ 5 $ 4 Advanced Materials and Chemicals 10 (1 ) (6 ) Brand 15 14 13 Total of reportable segments 45 18 11 All Other 2 3 2 Depreciation and amortization (30 ) (29 ) (31 ) Restructuring costs and other (10 ) (13 ) (6 ) Stock-based compensation (7 ) (5 ) (7 ) Consulting and other costs (1) 13 2 (19 ) Idle costs (2) (3 ) (3 ) (2 ) Other operating (expense) income, net (3) (6 ) 1 6 Interest expense (3) (52 ) (40 ) (33 ) Pension income excluding service cost component (3) 161 98 102 Loss on early extinguishment of debt (3) (27 ) — — Other income (charges), net (3) 1 (1 ) 5 Consolidated earnings from continuing operations before income taxes $ 87 $ 31 $ 28 ( 1 Consulting and other costs are professional services and internal costs associated with corporate strategic initiatives, investigations and litigation. Consulting and other costs included $15 million and $10 million of income in the year ended December 31, 2023 2022, 2023 December 31, 2022. 2022. ( 2 Consists of third not ( 3 As reported in the Consolidated Statement of Operations In 2023 2023 In 2022, 2022 Kodak decreased workers’ compensation reserves by approximately $4 million in 2021 2021 Amortization and depreciation expense by segment are not (in millions) Year Ended December 31, Intangible asset amortization expense from continuing operations: 2023 2022 2021 Print $ 4 $ 4 $ 4 Brand — 1 1 Total $ 4 $ 5 $ 5 (in millions) Year Ended December 31, Depreciation expense from continuing operations: 2023 2022 2021 Print $ 17 $ 17 $ 20 Advanced Materials and Chemicals 7 6 5 All Other 1 1 1 Total $ 25 $ 24 $ 26 (in millions) Year Ended December 31, Long-lived assets located in: (1) 2023 2022 The United States $ 112 $ 95 Europe, Middle East and Africa 6 9 Asia Pacific 5 6 Canada and Latin America 46 44 Non-U.S. countries total (2) 57 59 Total $ 169 $ 154 ( 1 Long-lived assets are comprised of property, plant and equipment, net. ( 2 Of the total non-U.S. property, plant and equipment in 2023 2022 Major Customers No 10% |
Note 27 - Business Combination
Note 27 - Business Combination | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 27: On May 26, 2023 December 31, 2023 December 31, 2023. |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Dec. 31, 2023 shares | |
ecd_TradingArrByIndTable | |
Material Terms of Trading Arrangement [Text Block] | 9B. Rule 10b5 1 The adoption or termination of contracts, instructions or written plans for the purchase or sale of our securities by our Section 16 three December 31, 2023, 10b5 1 10b5 1 ( 1 On December 21, 2023 David E. Bullwinkle Chief Financial Officer and Senior Vice President adopted 10b5 1 518,289 March 21, 2024 December 31, 2024 ( 2 On December 21, 2023 Roger W. Byrd Secretary and Senior Vice President adopted 10b5 1 135,201 March 21, 2024 March 15, 2025 None 16 10b5 1 408 |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
David E. Bullwinkle [Member] | |
ecd_TradingArrByIndTable | |
Trading Arrangement, Securities Aggregate Available Amount | 518,289 |
Trading Arrangement Adoption Date | December 21, 2023 |
Trading Arrangement, Individual Name | David E. Bullwinkle |
Trading Arrangement, Individual Title | Chief Financial Officer and Senior Vice President |
Rule 10b5-1 Arrangement Adopted [Flag] | true |
Roger W. Byrd [Member] | |
ecd_TradingArrByIndTable | |
Trading Arrangement, Securities Aggregate Available Amount | 135,201 |
Trading Arrangement Adoption Date | December 21, 2023 |
Trading Arrangement, Individual Name | Roger W. Byrd |
Trading Arrangement, Individual Title | Secretary and Senior Vice President |
Rule 10b5-1 Arrangement Adopted [Flag] | true |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II Eastman Kodak Company Valuation and Qualifying Accounts Beginning Net Deductions Ending (in millions) Balance Additions and Other Balance Year ended December 31, 2023 Reserve for doubtful accounts $ 7 3 2 $ 8 Deferred tax valuation allowance $ 826 62 110 $ 778 Year ended December 31, 2022 Reserve for doubtful accounts $ 7 2 2 $ 7 Deferred tax valuation allowance $ 934 18 126 $ 826 Year ended December 31, 2021 Reserve for doubtful accounts $ 10 — 3 $ 7 Deferred tax valuation allowance $ 1,112 33 211 $ 934 All other schedules have been omitted because they are not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | BASIS OF CONSOLIDATION The consolidated financial statements include the accounts of Eastman Kodak Company ("EKC") and all companies directly or indirectly controlled by EKC, either through majority ownership or otherwise. Kodak consolidates variable interest entities if Kodak has a controlling financial interest and is determined to be the primary beneficiary of the entity. |
Reclassification, Comparability Adjustment [Policy Text Block] | RECLASSIFICATIONS Certain amounts from previous periods have been reclassified to conform to the current period classification due to Kodak's new organization structure as of February 2023. 26, 14, |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP accounting requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at year end and the reported amounts of revenues and expenses during the reporting periods presented. Actual results could differ from these estimates. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | FOREIGN CURRENCY For most subsidiaries and branches outside the U.S., the local currency is the functional currency. The financial statements of these subsidiaries and branches are translated into U.S. dollars as follows: assets and liabilities at year-end exchange rates; revenue, expenses and cash flows at average exchange rates; and shareholders’ equity at historical exchange rates. For those subsidiaries for which the local currency is the functional currency, the resulting translation adjustment is recorded as a component of Accumulated other comprehensive income in the accompanying Consolidated Statement of Financial Position. For certain other subsidiaries and branches outside the U.S., operations are conducted primarily in U.S. dollars, which is therefore the functional currency. Monetary assets and liabilities of these foreign subsidiaries and branches, which are recorded in local currency, are remeasured at year-end exchange rates, while revenue, expense, and gain and loss accounts, which are recorded in local currency, are remeasured at average exchange rates. Non-monetary assets and liabilities are remeasured at historical exchange rates. Adjustments that result from the remeasurement of the assets and liabilities of these subsidiaries are included in Other (income) charges, net in the accompanying Consolidated Statement of Operations. The effects of foreign currency transactions, including related hedging activities, are included in Other (income) charges, net, in the accompanying Consolidated Statement of Operations. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH EQUIVALENTS All highly liquid investments with a remaining maturity of three |
Inventory, Policy [Policy Text Block] | INVENTORIES Inventories are stated at the lower of cost or net realizable value. The cost of inventories is determined by the average cost method, which approximates current cost. Kodak provides inventory reserves for excess, obsolete or slow-moving inventory based on changes in customer demand, technology developments or other economic factors. |
Property, Plant and Equipment, Policy [Policy Text Block] | PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are recorded at cost, net of accumulated depreciation. Kodak capitalizes additions and improvements while maintenance and repairs are charged to expense as incurred. Upon sale or other disposition, the applicable amounts of asset cost and accumulated depreciation are removed from the accounts and the net amount, less proceeds from disposal, is charged or credited to Other operating expense (income), net in the Consolidated Statement of Operations. Kodak calculates depreciation expense using the straight-line method over the assets’ estimated useful lives, which are as follows: Estimated Useful Lives Buildings and building improvements 5-40 Land improvements 4-20 Leasehold improvements 3-20 Equipment 3-20 Tooling 1-3 Furniture and fixtures 5-10 Kodak depreciates leasehold improvements over the shorter of the lease term or the assets’ estimated useful life. |
Internal Use Software, Policy [Policy Text Block] | INTERNAL USE SOFTWARE Expenditures for software purchases and software developed for internal use are capitalized and depreciated on a straight-line basis over the estimated useful lives, generally 3 to 10 years. For software developed for internal use, certain costs are capitalized, including external direct costs of materials and services associated with developing or obtaining the software, and payroll and payroll-related costs for employees who are directly associated with internal-use software projects. Capitalization of these costs ceases no may not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | GOODWILL Goodwill is not not When testing goodwill for impairment, Kodak may not 50 not not 5, |
Workers Compensation [Policy Text Block] | WORKERS COMPENSATION Kodak participates in high-deductible insurance programs with retention and per occurrence deductible levels for claims related to workers’ compensation. The estimated liability for workers’ compensation is based on actuarially estimated, discounted cost of claims, including claims incurred but not 6, 7, third not December 31, 2023 2022 |
Lessor, Lessee, Leases [Policy Text Block] | LEASES Kodak as lessee Kodak determines if an arrangement is a lease at inception. The primary criteria used to classify transactions as operating or finance leases are: ( 1 2 75% 3 90% not not Operating lease right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the operating lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The ROU assets are adjusted for prepayments and lease incentives. Variable lease payments are excluded from the measurement of ROU assets and lease liabilities and are recognized in expense in the period in which the obligation for those payments is incurred. Lease agreements may Kodak’s lease agreements are primarily for real estate space and vehicles. Arrangements for goods and services are assessed to determine if the arrangement contains a lease at its inception. Operating leases are included within Operating lease right-of-use assets, Current portion of operating leases and Operating leases, net of current portion in the Consolidated Statement of Financial Position. Finance leases are included in Property, plant and equipment, net, Short-term borrowings and current portion of long-term debt and Long-term debt, net of current portion in the Consolidated Statement of Financial Position. When available, the rate implicit in the lease is used to discount lease payments to present value; however, many leases do not Rental expense related to operating leases is recognized on a straight-line basis over the lease term. The lease agreements may not Kodak as Lessor Kodak places its own equipment at customer sites under sales-type and operating lease arrangements. Arrangements classified as sales-type leases with revenue recognition at inception generally transfer title to the equipment by the end of the lease term or have a lease term that is for a major part of the remaining economic life of the equipment; and collectability is considered probable. Leases meeting the sales-type lease criteria with variable lease payments that do not one not not not may The Eastman Business Park segment’s core operations are commercial real estate management activities including real estate leasing and related facility management services. Kodak also leases underutilized portions of its other real estate properties to third Renewal options and/or termination options are factored into the determination of lease payments if considered probable. Kodak does not |
Revenue [Policy Text Block] | REVENUE Kodak’s revenue transactions include sales of products (such as components and consumables for use in Kodak and other manufacturers’ equipment, film-based products and specialty materials and chemicals), equipment, software, services (such as equipment and software maintenance, engineering, coating and contract manufacturing services), integrated solutions, intellectual property and brand licensing, and commercial real estate management activities. Revenue from services includes extended warranty, customer support and maintenance agreements, consulting, training and education. Revenue is recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration Kodak expects to be entitled to in exchange for those goods or services. For product sales (such as plates, film, inks, specialty materials and chemicals and other consumables), revenue is recognized when control has transferred from Kodak to the buyer, which may Equipment is generally dependent on, and interrelated with, the underlying operating system (firmware) and cannot function without the operating system. In these cases, the hardware and software licenses are accounted for as a single performance obligation. Contracts with customers may one may not For non-complex equipment installations and software sales, revenue is recognized when control of each distinct performance obligation has transferred from Kodak to the buyer, which is generally met when the equipment or software is delivered and installed at the customer site, as delivery and installation generally occur within the same period. For complex equipment installations or integrated software solutions, revenue is deferred until receipt of customer acceptance and control has transferred to the buyer. Software licenses are sold both in bundled equipment arrangements as discussed above or on a stand-alone basis. Perpetual licenses are usually sold with post-contract support services (“PCS”) which are considered distinct performance obligations as the customer’s use of the existing software is not In service arrangements such as consulting where final acceptance by the customer is required, revenue is deferred until all acceptance criteria have been met and Kodak has a legal right to payment. Kodak’s licensing revenue is comprised of software licenses as discussed above, licenses to use functional intellectual property (e.g. patents and technical know-how) and licenses to use symbolic intellectual property (e.g. brand names and trademarks). The timing and the amount of revenue recognized from the licensing of intellectual property depends upon a variety of factors, including the nature of the performance obligations (functional vs. symbolic licenses), specific terms of each agreement, and the payment terms. Aside from software licenses discussed above, Kodak’s functional licenses generally provide the right to use functional intellectual property; therefore, non-sales/usage-based revenue is recognized when the customer has the right to use the intellectual property while sales and usage-based royalties are recognized in the period the related sales and usage occurs. Revenue for symbolic licenses such as brand licenses are recognized over time. Real estate management revenue consists primarily of income from tenant leases, including rent and utilities, as well as facility management services and hosting onsite events. Usage based revenue is recognized as earned while tenant lease income is recognized on a straight-line basis over the lease term (Refer to Leases; Kodak as Lessor above). Deferred revenue is recorded when cash payments are received in advance of satisfying performance obligations such as deposits required in advance on equipment orders, prepaid service contracts, prepaid tenant lease income or prepaid royalties on intellectual property arrangements. Interest expense is imputed for payments received greater than one Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. With the exception of brand licensing arrangements, Kodak applies the practical expedient with respect to implied financial components and only imputes interest for payment terms greater than one Sales and usage-based taxes are excluded from revenues. Certain customers may Incremental direct costs of obtaining a contract consist of sales commissions. Kodak expenses sales commissions when incurred if the amortization period would be one Kodak does not one Performance obligations with an original expected length of greater than one December 31, 2023 2024 2025 2026 2027 |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | ALLOWANCE FOR CREDIT LOSSES Kodak records an allowance for credit losses against financial assets measured at amortized cost basis (primarily accounts receivable) for the current expected credit losses inherent in the asset over its expected life. The allowance for credit losses is maintained based on historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. Kodak records a specific reserve for individual accounts when Kodak becomes aware of specific customer circumstances evidencing the customer's inability to pay, such as in the case of a bankruptcy filing or deterioration in the customer's operating results or financial position. |
Research and Development Expense, Policy [Policy Text Block] | RESEARCH AND DEVELOPMENT COSTS R&D costs, which include costs incurred in connection with new product development, fundamental and exploratory research, process improvement, product use technology and product accreditation, are expensed in the period in which they are incurred. |
Advertising Cost [Policy Text Block] | ADVERTISING Advertising costs are expensed as incurred and are included in SG&A expenses in the accompanying Consolidated Statement of Operations. Advertising expenses amounted to $2 million, $3 million and $2 million for the years ended December 31, 2023 2022 2021 |
Shipping and Handling Costs [Policy Text Block] | SHIPPING AND HANDLING COSTS Amounts charged to customers and costs incurred by Kodak related to shipping and handling are included in Net revenue and Cost of revenues, respectively. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | IMPAIRMENT OF LONG-LIVED ASSETS The carrying values of long-lived assets, other than goodwill and intangible assets with indefinite useful lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying values may not Long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (the asset group). If the sum of the expected undiscounted cash flows from the use of and eventual disposition of such asset group is less than the carrying value of the asset group a loss is recognized to the extent the carrying value of the asset group exceeds its fair value. Kodak determines fair value through quoted market prices in active markets or using a discounted cash flow analysis. The remaining useful lives of long-lived assets are reviewed in connection with the assessment of recoverability of long-lived assets and the ongoing strategic review of the business and operations. If the review indicates that the remaining useful life of the long-lived asset has changed significantly, the depreciation on that asset is adjusted to facilitate full cost recovery over its revised estimated remaining useful life. The carrying values of indefinite-lived intangible assets are evaluated for potential impairment annually or whenever events or changes in circumstances indicate that it is more likely than not 5, |
Income Tax, Policy [Policy Text Block] | INCOME TAXES Kodak recognizes deferred tax liabilities and assets for the expected future tax consequences of operating losses, credit carry-forwards and temporary differences between the carrying amounts and tax basis of Kodak’s assets and liabilities. Kodak records a valuation allowance to reduce its net deferred tax assets to the amount that is more likely than not December 31, 2023 2022 17, The undistributed earnings of Kodak’s foreign subsidiaries are not |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In December 2023, 2023 09, 740 2023 09 December 15, 2024 ( January 1, 2025 In November 2023, 2023 07, 280 2023 07 not December 15, 2023 ( January 1, 2024 December 15, 2024 ( January 1, 2025 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment, Useful Lives [Table Text Block] | Estimated Useful Lives Buildings and building improvements 5-40 Land improvements 4-20 Leasehold improvements 3-20 Equipment 3-20 Tooling 1-3 Furniture and fixtures 5-10 |
Note 2 - Cash, Cash Equivalen_2
Note 2 - Cash, Cash Equivalents and Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Cash and Cash Equivalents [Table Text Block] | As of December 31, (in millions) 2023 2022 Cash and cash equivalents $ 255 $ 217 Restricted cash reported in Other current assets 12 7 Restricted cash 110 62 Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows $ 377 $ 286 |
Note 3 - Inventories, Net (Tabl
Note 3 - Inventories, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | As of December 31, (in millions) 2023 2022 Finished goods $ 85 $ 98 Work in process 68 64 Raw materials 64 75 Total $ 217 $ 237 |
Note 4 - Property, Plant and _2
Note 4 - Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of December 31, (in millions) 2023 2022 Land $ 55 $ 51 Buildings and building improvements 137 134 Machinery and equipment 420 390 Construction in progress 27 29 Property, plant and equipment, gross 639 604 Accumulated depreciation (470 ) (450 ) Property, plant and equipment, net $ 169 $ 154 |
Note 5 - Goodwill and Other I_2
Note 5 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Advanced Materials and Consolidated (in millions) Print Chemicals Brand Total Balance as of December 31, 2021 $ 6 $ — $ 6 $ 12 Impairment — — — — As of December 31, 2022 6 — 6 12 Impairment — — — — As of December 31, 2023 $ 6 $ — $ 6 $ 12 Gross goodwill $ 62 $ 8 $ 6 $ 76 Accumulated impairment losses (56 ) (8 ) — (64 ) Balance as of December 31, 2023 $ 6 $ — $ 6 $ 12 |
Schedule of Finite Lived and Indefinite Lived Intangible Assets [Table Text Block] | As of December 31, 2023 Weighted Average Remaining Gross Carrying Accumulated Amortization Period (in millions) Amount Amortization Net (in years) Technology-based $ 99 $ 92 $ 7 2 years Kodak trade name 17 — 17 Indefinite life Customer-related 9 9 — 0 years Total $ 125 $ 101 $ 24 As of December 31, 2022 Weighted Average Remaining Gross Carrying Accumulated Amortization Period (in millions) Amount Amortization Net (in years) Technology-based $ 99 $ 88 $ 11 3 years Kodak trade name 17 — 17 Indefinite life Customer-related 9 9 - 1 year Total $ 125 $ 97 $ 28 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in millions) 2024 $ 4 2025 3 Total $ 7 |
Note 6 - Other Current Liabil_2
Note 6 - Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Other Current Liabilities [Table Text Block] | As of December 31, (in millions) 2023 2022 Deferred revenue and customer deposits $ 37 $ 40 Employment-related liabilities 36 35 Customer rebates 12 18 Workers' compensation 10 9 Restructuring liabilities 5 7 Accrued interest 9 6 Preferred Stock dividends payable 1 1 Other 34 27 Total $ 144 $ 143 |
Note 7 - Long-term Liabilities
Note 7 - Long-term Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Other Long-term Liabilities Table [Text Block] | As of December 31, (in millions) 2023 2022 Workers' compensation $ 56 $ 59 Asset retirement obligations 43 43 Deferred taxes 27 27 Deferred brand licensing revenue (1) 63 11 Environmental liabilities 9 8 Embedded conversion option derivative liabilities 2 4 Other 13 19 Total $ 213 $ 171 |
Note 8 - Debt and Credit Faci_2
Note 8 - Debt and Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Debt And Capital Lease Obligations [Table Text Block] | Weighted-Average As of December 31, Effective 2023 2022 (in millions) Type Maturity Interest Rate Carrying Value Carrying Value Current portion: RED-Rochester, LLC 11.45% $ 1 $ 1 1 1 Non-current portion: Term Loans 2028 13.72% 446 — Original Term Loans 2026 13.68% — 286 Convertible Debt 2026 17.28% — 18 RED-Rochester, LLC 2033 11.45% 10 11 Finance Leases Various Various 1 1 457 316 $ 458 $ 317 |
Schedule of Maturities of Debt and Finance Leases Outstanding [Table Text Block] | Carrying Maturity (in millions) Value Value 2024 1 1 2025 1 1 2026 1 1 2027 1 1 2028 447 582 2029 and thereafter 7 7 Total $ 458 $ 593 |
Note 9 - Redeemable, Converti_2
Note 9 - Redeemable, Convertible Preferred Stock (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Temporary Equity [Table Text Block] | As of December 31, (in millions) 2023 2022 Series B preferred stock $ 96 $ 95 Series C preferred stock 114 108 Total $ 210 $ 203 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Balance Sheet Information Related To Leases Table [Text Block] | Classification in the December 31, (in millions) Consolidated Statement of Financial Position 2023 2022 Assets Operating lease assets Operating lease right-of-use assets $ 30 $ 39 Finance lease assets Property, plant and equipment, net 1 1 Total lease assets $ 31 $ 40 Liabilities Current Operating Current portion of operating leases $ 13 $ 15 Noncurrent Operating Operating leases, net of current portion 24 31 Finance Long-term debt, net of current portion 1 1 Total lease liabilities $ 38 $ 47 |
Lease, Cost [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Finance lease expense Amortization of leased assets $ 1 $ 1 $ 1 Interest on lease liabilities — — — Operating lease expense 16 17 19 Variable lease expense (1) 7 7 9 Total lease expense $ 24 $ 25 $ 29 |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 20 $ 19 $ 21 Operating cash flow for finance leases — — — Financing cash flow for finance leases 1 1 1 Total $ 21 $ 20 $ 22 Weighted-average remaining lease term (in years) Operating 5 5 5 Finance 3 3 2 Weighted-average discount rate Operating 13.22 % 12.17 % 11.91 % Finance 6.42 % 5.18 % 5.56 % |
Lessee, Operating Lease and Finance Lease, Liability, Maturity [Table Text Block] | Undiscounted future cash flows: (in millions) Operating Leases Finance Leases 2024 $ 17 $ — 2025 8 1 2026 6 — 2027 5 — 2028 5 — Thereafter 13 — Total minimum lease payments 54 1 Less: amount of lease payments representing interest (17 ) — Present value of future minimum lease payments 37 1 Less: current obligations under leases 13 — Long-term lease obligations $ 24 $ 1 |
Sales-Type and Direct Financing Leases, Payment to be Received, Maturity [Table Text Block] | (in millions) 2024 $ 1 2025 1 2026 and thereafter 1 Total minimum lease payments 3 Less: unearned interest — Net investment in sales-type leases $ 3 |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | (in millions) 2024 $ 9 2025 5 2026 3 2027 2 2028 2 Thereafter 6 Total minimum lease payments $ 27 |
Lease Income [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Lease income - sales-type leases $ 1 $ 1 $ 3 Lease income - operating leases 9 8 8 Variable lease income (1) 5 5 5 Total lease income $ 15 $ 14 $ 16 |
Operating Leases And Related Accumulated Depreciation Table [Text Block] | As of December 31, (in millions) 2023 2022 Equipment subject to operating leases $ 26 $ 19 Accumulated depreciation (18 ) (16 ) Equipment subject to operating leases, net $ 8 $ 3 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Asset Retirement Obligations [Table Text Block] | For the Year Ended December 31, (in millions) 2023 2022 Asset Retirement Obligations at start of period $ 43 $ 42 Liabilities incurred in the current period — 1 Liabilities settled in the current period — (2 ) Revision in estimated cash flows — 2 Asset Retirement Obligations at end of period $ 43 $ 43 |
Note 12 - Guarantees (Tables)
Note 12 - Guarantees (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | (in millions) Deferred revenue on extended warranties as of December 31, 2021 $ 19 New extended warranty and maintenance arrangements 89 Recognition of extended warranty and maintenance arrangement revenue (89 ) Deferred revenue on extended warranties as of December 31, 2022 19 New extended warranty and maintenance arrangements 87 Recognition of extended warranty and maintenance arrangement revenue (89 ) Deferred revenue on extended warranties as of December 31, 2023 $ 17 |
Note 13 - Financial Instrumen_2
Note 13 - Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Net loss (gain) from derivatives not designated as hedging instruments $ 12 $ 16 $ (1 ) |
Embedded Derivative, Gain (Loss) on Embedded Derivative [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Net loss (gain) from Preferred Stock and Convertible Notes embedded derivatives $ 2 $ (3 ) $ (7 ) |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Valuation Date July 21, December 31, 2023 2022 Total value of embedded derivative liability (in millions) $ 5 $ 2 Kodak's closing stock price $ 5.26 $ 3.05 Expected stock price volatility 60.00 % 50.00 % Risk free rate 4.50 % 4.17 % Implied credit spread on the Convertible Notes 17.75 % 26.19 % Valuation Date December 31, 2023 2022 Total value of embedded derivative liability (in millions) $ 1 $ 1 Kodak's closing stock price $ 3.90 $ 3.05 Expected stock price volatility 60.00 % 50.00 % Risk free rate 4.14 % 4.17 % Implied credit spread on the Series B Preferred Stock 18.34 % 27.19 % Valuation Date December 31, 2023 2022 Total value of embedded derivative liability (in millions) $ 1 $ 1 Kodak's closing stock price $ 3.90 $ 3.05 Expected stock price volatility 60.00 % 50.00 % Risk free rate 4.14 % 4.17 % Implied credit spread on the Series C Preferred Stock 20.34 % 29.19 % |
Note 14 - Revenue (Tables)
Note 14 - Revenue (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, 2023 Advanced Materials and (in millions) Print Chemicals Brand Other Total Core products and services (1) Plates, inks and other consumables $ 571 $ 26 $ — $ — $ 597 Ongoing service arrangements 185 — — — 185 Total annuities 756 26 — — 782 Equipment & Software 72 — — — 72 Film and chemicals — 215 — — 215 Total core products and services 828 241 — — 1,069 Growth products (2) — 14 — — 14 Other (3) — — 17 17 34 Total $ 828 $ 255 $ 17 $ 17 $ 1,117 Year Ended December 31, 2022 Advanced Materials and (in millions) Print Chemicals Brand Other Total Core products and services (1) Plates, inks and other consumables $ 652 $ 26 $ — $ — $ 678 Ongoing service arrangements 205 — — — 205 Total annuities 857 26 — — 883 Equipment & Software 81 — — — 81 Film and chemicals — 192 — — 192 Total core products and services 938 218 — — 1,156 Growth products (2) — 16 — — 16 Other (3) — - 17 16 33 Total $ 938 $ 234 $ 17 $ 16 $ 1,205 Year Ended December 31, 2021 Advanced Materials and (in millions) Print Chemicals Brand Other Total Core products and services (1) Plates, inks and other consumables $ 599 $ 22 $ — $ — $ 621 Ongoing service arrangements 213 — — — 213 Total annuities 812 22 — — 834 Equipment & Software 96 — — — 96 Film and chemicals — 180 — — 180 Total core products and services 908 202 — — 1,110 Growth products (2) — 9 — — 9 Other (3) — 1 15 15 31 Total $ 908 $ 212 $ 15 $ 15 $ 1,150 Year Ended December 31, 2023 Advanced Materials and (in millions) Print Chemicals Brand Other Total United States $ 250 $ 199 $ 17 $ 17 $ 483 Canada 17 2 — — 19 North America 267 201 17 17 502 Europe, Middle East and Africa 360 20 — — 380 Asia Pacific 178 33 — — 211 Latin America 23 1 — — 24 Total Sales $ 828 $ 255 $ 17 $ 17 $ 1,117 Year Ended December 31, 2022 Advanced Materials and (in millions) Print Chemicals Brand Other Total United States $ 276 $ 177 $ 17 $ 16 $ 486 Canada 20 2 — — 22 North America 296 179 17 16 508 Europe, Middle East and Africa 410 19 — — 429 Asia Pacific 199 35 — — 234 Latin America 33 1 — — 34 Total Sales $ 938 $ 234 $ 17 $ 16 $ 1,205 Year Ended December 31, 2021 Advanced Materials and (in millions) Print Chemicals Brand Other Total United States $ 244 $ 152 $ 15 $ 15 $ 426 Canada 20 2 — — 22 North America 264 154 15 15 448 Europe, Middle East and Africa 387 17 — — 404 Asia Pacific 224 41 — — 265 Latin America 33 — — — 33 Total Sales $ 908 $ 212 $ 15 $ 15 $ 1,150 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | As of December 31, (in millions) 2023 2022 Contract assets $ 1 $ 1 Contract liabilities - current 37 40 Contract liabilities - long-term 63 11 Total $ 100 $ 51 |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Beginning liabilities recognized in revenue $ 33 $ 38 $ 37 Cash payments received, net of revenue recognized 39 30 28 |
Note 15 - Other Operating Inc_2
Note 15 - Other Operating Income, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Asset impairments (1) (2) $ 5 $ 1 $ — Legal settlements — (1 ) (7 ) Loss related to the sales of assets — — 1 Other 1 (1 ) — Total $ 6 $ (1 ) $ (6 ) |
Note 16 - Other Charges (Inco_2
Note 16 - Other Charges (Income), Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Other Nonoperating Income, by Component [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Interest income (1) $ (15 ) $ (1 ) $ (1 ) Change in fair value of embedded conversion features derivative (2) 2 (3 ) (7 ) Loss on foreign exchange transactions 9 4 2 Other 3 1 1 Total $ (1 ) $ 1 $ (5 ) |
Note 17 - Income Taxes (Tables)
Note 17 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Earnings (loss) from continuing operations before income taxes: U.S. $ 36 $ (2 ) $ (12 ) Outside the U.S. 51 33 40 Total $ 87 $ 31 $ 28 U.S. income taxes: Deferred benefit (1 ) (3 ) (1 ) Income taxes outside the U.S.: Current provision 12 7 4 Deferred provision 1 1 1 Total provision $ 12 $ 5 $ 4 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Amount computed using the statutory rate $ 18 $ 7 $ 6 Increase (reduction) in taxes resulting from: Unremitted foreign earnings 1 (2 ) (1 ) Operations outside the U.S. 13 4 8 Legislative tax law and rate changes — — (28 ) Valuation allowance (19 ) (9 ) 20 Tax settlements and adjustments, including interest — 4 (1 ) Other, net (1 ) 1 — Provision for income taxes $ 12 $ 5 $ 4 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of December 31, (in millions) 2023 2022 Deferred tax assets Restructuring programs $ 1 $ 2 Leasing 2 3 Foreign tax credit 281 358 Inventories 11 14 Investment tax credit 25 26 Employee deferred compensation 23 22 Depreciation 31 33 Research and development costs 42 42 Tax loss carryforwards 529 506 Other deferred revenue 2 2 Other 79 74 Total deferred tax assets before valuation allowances $ 1,026 $ 1,082 Valuation allowances (778 ) (826 ) Total net deferred tax assets $ 248 $ 256 Deferred tax liabilities Pension and postretirement obligations $ (251 ) $ (258 ) Goodwill/intangibles (8 ) (8 ) Unremitted foreign earnings (16 ) (17 ) Total deferred tax liabilities (275 ) (283 ) Net deferred tax liabilities $ (27 ) $ (27 ) As of December 31, (in millions) 2023 2022 Other long-term liabilities $ (27 ) $ (27 ) Net deferred tax liabilities $ (27 ) $ (27 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Balance as of January 1 $ 3 $ 4 $ 8 Tax positions related to the current year: Additions — — — Tax positions related to prior years: Additions 1 1 — Reductions (1 ) (2 ) (1 ) Settlements with taxing jurisdictions (1 ) — (3 ) Balance as of December 31 $ 2 $ 3 $ 4 |
Note 18 - Restructuring Costs_2
Note 18 - Restructuring Costs and Other (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Inventory Severance Exit Costs Write- (in millions) Reserve (1) Reserve (1) downs (1) Total Balance as of December 31, 2020 $ 10 $ 1 $ — $ 11 Charges 6 — — 6 Utilization/cash payments (10 ) — — (10 ) Other adjustments & reclasses (2) (2 ) — — (2 ) Balance as of December 31, 2021 4 1 — 5 Charges 6 4 3 13 Utilization/cash payments (6 ) — (3 ) (9 ) Other adjustments & reclasses (2) (2 ) — — (2 ) Balance as of December 31, 2022 2 5 — 7 Charges 8 (1 ) 3 10 Utilization/cash payments (6 ) (3 ) (3 ) (12 ) Balance as of December 31, 2023 $ 4 $ 1 $ — $ 5 |
Note 19 - Retirement Plans (Tab
Note 19 - Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | Year Ended Year Ended December 31, 2023 December 31, 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Change in Benefit Obligation Projected benefit obligation at beginning of period $ 2,482 $ 577 $ 3,132 $ 816 Service cost 13 2 13 3 Interest cost 117 20 80 9 Benefit payments (283 ) (43 ) (294 ) (44 ) Plan Amendments 29 — 28 — Actuarial loss (gain) 28 12 (479 ) (165 ) Special termination benefits — — 2 — Currency adjustments — 20 — (42 ) Projected benefit obligation at end of period $ 2,386 $ 588 $ 2,482 $ 577 Change in Plan Assets Fair value of plan assets at beginning of period $ 3,659 $ 526 $ 4,105 $ 626 Actual Return on plan assets 170 25 (152 ) (31 ) Employer contributions — 6 — 5 Benefit payments (283 ) (43 ) (294 ) (44 ) Currency adjustments — 14 — (30 ) Fair value of plan assets at end of period $ 3,546 $ 528 $ 3,659 $ 526 Over (under) funded status at end of period $ 1,160 $ (60 ) $ 1,177 $ (51 ) Accumulated benefit obligation at end of period $ 2,384 $ 579 $ 2,482 $ 568 |
Schedule of Assumptions Used to Calculate Pension Plan Net Benefit Obligation [Table Text Block] | As of December 31, 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 4.92 % 3.47 % 5.13 % 3.93 % 2.54 % 1.48 % Salary increase rate 1.50 % 2.06 % 1.00 % 2.71 % 1.00 % 2.39 % Interest crediting rate for cash balance plan 4.00 % NA 4.00 % NA 2.00 % NA |
Schedule of Amounts From Pension Plan Recognized in Balance Sheet [Table Text Block] | As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Pension and other postretirement assets $ 1,160 $ 42 $ 1,177 $ 42 Pension and other postretirement liabilities — (102 ) — (93 ) Net amount recognized $ 1,160 $ (60 ) $ 1,177 $ (51 ) |
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block] | As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Projected benefit obligation $ — $ 406 $ — $ 209 Fair value of plan assets — 304 — 116 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] | As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Accumulated benefit obligation $ — $ 397 $ — $ 201 Fair value of plan assets — 304 — 116 |
Schedule of Pension Plan Amounts Recognized in Accumulated Other Income (Loss) [Table Text Block] | As of December 31, 2023 2022 (in millions) U.S. Non-U.S. U.S. Non-U.S. Prior service (cost) credit $ (45 ) $ 2 $ (25 ) $ 2 Net actuarial gain (loss) 449 (52 ) 594 (43 ) Total $ 404 $ (50 ) $ 569 $ (41 ) |
Schedule of Amounts From Pension Plans Recognized in Other Comprehensive Income [Table Text Block] | Year Ended December 31, 2023 2022 2021 (in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Newly established (loss) gain $ (115 ) $ (7 ) $ 149 $ 120 $ 635 $ (4 ) Newly established prior service cost (29 ) — (28 ) — — — Amortization of: Prior service cost (credit) 9 — (3 ) — (7 ) — Net actuarial (gain) loss (30 ) 1 — 10 30 9 Total (loss) income recognized in Other comprehensive (loss) income $ (165 ) $ (6 ) $ 118 $ 130 $ 658 $ 5 |
Schedule of Net Benefit Costs [Table Text Block] | Year Ended December 31, 2023 2022 2021 (in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Major defined benefit plans: Service cost $ 13 $ 2 $ 13 $ 3 $ 11 $ 3 Interest cost 117 20 80 9 47 5 Expected return on plan assets (257 ) (20 ) (178 ) (14 ) (167 ) (15 ) Amortization of: Prior service cost (credit) 9 — (3 ) — (7 ) — Actuarial (gain) loss (30 ) 1 — 10 30 9 Pension (income) expense before special termination benefits (148 ) 3 (88 ) 8 (86 ) 2 Special termination benefits — — 2 — 2 — Net pension (income) expense for major defined benefit plans (148 ) 3 (86 ) 8 (84 ) 2 Other plans including unfunded plans — 1 — — — (2 ) Net pension (income) expense $ (148 ) $ 4 $ (86 ) $ 8 $ (84 ) $ — |
Schedule of Assumptions Used to Calculate Pension Plan Net Benefit Costs [Table Text Block] | Year Ended December 31, 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Effective rate for service cost 5.04 % 3.44 % 3.45 % 1.60 % 2.11 % 1.17 % Effective rate for interest cost 5.02 % 3.80 % 2.97 % 1.20 % 1.42 % 0.70 % Salary increase rate 1.00 % 2.71 % 1.00 % 2.39 % 3.50 % 1.56 % Expected long-term rate of return on plan assets 7.50 % 4.16 % 5.30 % 2.67 % 5.20 % 2.56 % Interest crediting rate for cash balance plan 3.85 % NA 2.58 % NA 1.75 % NA |
Schedule of Allocation of Plan Assets [Table Text Block] | As of December 31, 2023 2022 2023 Target Asset Category Debt securities 20 % 20 % 18-24% Real estate 0 % 1 % 0% Cash and cash equivalents 5 % 7 % 0-10% Private equity 31 % 30 % 23-28% Hedge funds (1) 44 % 42 % 46-58% Total 100 % 100 % As of December 31, 2023 2022 2023 Target Asset Category Equity securities 6 % 6 % 0-10% Debt securities 16 % 16 % 10-20% Real estate 2 % 2 % 0-5% Cash and cash equivalents 2 % 4 % 0-5% Hedge Funds 6 % 4 % 0-10% Private equity 8 % 8 % 0-10% Insurance contracts 60 % 60 % 25-75% Total 100 % 100 % |
Schedule of Fair Value of Plan Assets By Measurement Inputs Disclosure [Table Text Block] | U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents (1) $ 164 $ — $ — $ — $ 164 Debt Securities: (2) Government bonds — 32 — — 32 Investment grade bonds — 682 — — 682 Real estate — — — 18 18 Other: Hedge funds — — — 1,552 1,552 Private Equity — — 3 1,094 1,097 Derivatives with unrealized gains 1 — — — 1 $ 165 $ 714 $ 3 $ 2,664 $ 3,546 U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents (1) $ 251 $ — $ — $ — $ 251 Debt Securities: (2) Government bonds — 39 — — 39 Investment grade bonds — 717 — — 717 Real estate — — — 29 29 Other: Hedge funds — — — 1,528 1,528 Private Equity — — 3 1,092 1,095 $ 251 $ 756 $ 3 $ 2,649 $ 3,659 Non - U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents $ 13 $ — $ — $ — $ 13 Equity securities 33 — — — 33 Debt securities: Investment grade bonds 35 45 — — 80 Global high yield & emerging market debt 2 — — — 2 Real estate — — — 11 11 Other: Hedge Funds — — — 29 29 Private equity — — — 42 42 Insurance contracts — 30 287 — 317 Derivatives with unrealized gains 1 — — — 1 $ 83 $ 75 $ 287 $ 82 $ 527 Non - U.S. Quoted Prices in Active Markets for Significant Significant Identical Observable Unobservable Assets Inputs Inputs Measured at (in millions) (Level 1) (Level 2) (Level 3) NAV Total Cash and cash equivalents $ 21 $ — $ — $ — $ 21 Equity securities 31 — — — 31 Debt securities: Investment grade bonds 35 45 — — 80 Global high yield & emerging market debt 2 — — — 2 Real estate — — — 11 11 Other: Hedge Funds — — — 20 20 Private equity — — — 43 43 Insurance contracts — 29 289 — 318 $ 89 $ 74 $ 289 $ 74 $ 526 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] | Investments Valued at NAV at December 31, 2023 Unfunded Redemption Redemption (in millions): Fair Value Commitments Frequency Notice Period Real estate $ 18 $ — N/A N/A Private equity 1,094 172 N/A N/A Hedge Funds 1,552 — Bi-Monthly, Monthly, Quarterly, Semi-Annual, and Annual 5-365 days Total $ 2,664 $ 172 Investments Valued at NAV at December 31, 2022 Unfunded Redemption Redemption (in millions): Fair Value Commitments Frequency Notice Period Real estate $ 29 $ — N/A N/A Private equity 1,092 229 N/A N/A Hedge Funds 1,528 26 Bi-Monthly, Monthly, Quarterly, Semi-Annual, and Annual 5-365 days Total $ 2,649 $ 255 |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2023 Still Held Period Settlements 2023 Private Equity 3 — — — 3 Total $ 3 $ — $ — $ — $ 3 U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2022 Still Held Period Settlements 2022 Private Equity — — — 3 3 Total $ — $ — $ — $ 3 $ 3 U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2021 Still Held Period Settlements 2021 Private Equity 5 (5 ) — — — Total $ 5 $ (5 ) $ — $ — $ — Non - U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2023 Still Held Period Settlements 2023 Insurance Contracts 289 (2 ) — — 287 Total $ 289 $ (2 ) $ — $ — $ 287 Non - U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2022 Still Held Period Settlements 2022 Insurance Contracts 342 (53 ) — — 289 Total $ 342 $ (53 ) $ — $ — $ 289 Non - U.S. Net Realized and Unrealized Gains Relating to Balance at Relating to Assets Net Purchases, Balance at January 1, Assets Sold During the Sales and December 31, (in millions) 2021 Still Held Period Settlements 2021 Insurance Contracts 291 (37 ) — 88 342 Total $ 291 $ (37 ) $ — $ 88 $ 342 |
Schedule of Expected Pension Plan Payments [Table Text Block] | (in millions) U.S. Non-U.S. 2024 $ 263 $ 45 2025 254 43 2026 242 42 2027 230 41 2028 219 40 2029 - 2033 935 184 |
Hedge Funds [Member] | |
Notes Tables | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] | Redemption Redemption (in millions) Net Asset Value Frequency Notice Period Multi-strategy hedge funds $ 509 Quarterly 45-90 days Relative value hedge funds 342 Bi-monthly, Quarterly 6-120 days Directional hedge funds 143 Monthly 5 days Equity long/short hedge funds 264 Monthly, Quarterly 45-90 days Sector specialist hedge funds 120 Quarterly, Semi-Annually 60-90 days Long-biased hedge funds 160 Quarterly, Annually 60-90 days Event driven hedge funds 14 Quarterly 90 days $ 1,552 Redemption Redemption (in millions) Net Asset Value Frequency Notice Period Multi-strategy hedge funds $ 495 Quarterly 45-90 days Relative value hedge funds 331 Bi-monthly, Quarterly 6-120 days Directional hedge funds 167 Monthly 5 days Equity long/short hedge funds 227 Quarterly 45-90 days Sector specialist hedge funds 135 Quarterly, Semi-Annually 60-90 days Long-biased hedge funds 159 Quarterly, Annually 60-90 days Event driven hedge funds 14 Quarterly 90 days $ 1,528 |
Note 20 - Other Postretiremen_2
Note 20 - Other Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 Net benefit obligation at beginning of period $ 43 $ 52 Interest cost 2 1 Actuarial gain — (7 ) Benefit payments (2 ) (3 ) Net benefit obligation at end of period $ 43 $ 43 Underfunded status at end of period (43 ) (43 ) |
Schedule Of Amounts From Other Post Retirement Plan Recognized In Balance Sheet Table [Text Block] | As of December 31, (in millions) 2023 2022 Other current liabilities $ (3 ) $ (3 ) Pension and other postretirement liabilities (40 ) (40 ) $ (43 ) $ (43 ) |
Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income Loss Table [Text Block] | As of December 31, (in millions) 2023 2022 Net actuarial gain $ 10 $ 11 |
Schedule Of Other Post Retirement Plan Recognized In Other Comprehensive Income Loss Table [Text Block] | Year Ended December 31, (in millions) 2023 2022 Newly established gain $ — $ 7 Total gain recognized in Other comprehensive loss (income) $ — $ 7 |
Schedule Of Other Post Retirement Plan Net Benefit Costs Table [Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Components of net postretirement benefit cost: Service cost $ — $ — $ — Interest cost 2 1 1 Amortization of: Actuarial gain (1 ) — — Other postretirement benefit cost from continuing operations $ 1 $ 1 $ 1 |
Schedule Of Assumptions Used To Calculate Other Post Retirement Plan Net Benefit Obligation Table [Text Block] | As of December 31, 2023 2022 Discount rate 4.64 % 5.15 % Salary increase rate 1.85 % 2.10 % |
Schedule Of Assumptions Used To Calculate Other Post Retirement Plan Net Benefit Costs Table [Text Block] | Year Ended December 31, 2023 2022 2021 Effective rate for interest cost 5.13 % 2.53 % 1.81 % Salary increase rate 2.10 % 1.85 % 1.70 % |
Other Post Retirement Benefits Schedule of Health Care Cost Trend Rates [Table Text Block] | 2023 2022 Healthcare cost trend 5.73 % 5.64 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 3.32 % 3.57 % Year that the rate reaches the ultimate trend rate 2040 2043 |
Schedule of Expected Other Postretirement Benefit Payments [Table Text Block] | 2024 $ 3 2025 3 2026 3 2027 3 2028 3 2029 - 2033 12 |
Note 21 - Earnings Per Share (T
Note 21 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Net income attributable to Eastman Kodak Company $ 75 $ 26 $ 24 Less: Preferred Stock cash and accrued dividends (4 ) (4 ) (4 ) Less: Preferred Stock in-kind dividends (5 ) (5 ) (4 ) Less: Preferred Stock deemed dividends (2 ) (2 ) (3 ) Plus: Expiration of Series A embedded derivative — — 11 Less: Earnings attributable to Series C Preferred shareholders (8 ) (2 ) (2 ) Net income available to common shareholders - basic $ 56 $ 13 $ 22 Effect of dilutive securities: Add back: Series B preferred stock cash and deemed dividends $ 5 $ — $ — Net earnings available to common shareholders - diluted $ 61 $ 13 $ 22 Year Ended December 31, 2023 2022 2021 Weighted-average common shares outstanding - basic 79.4 78.9 78.4 Effect of dilutive securities: Unvested restricted stock units and awards 0.9 0.6 0.1 Stock options 0.7 1.1 2.0 Series B Preferred Stock 9.5 — — Weighted-average common shares outstanding - diluted 90.5 80.6 80.5 |
Note 22 - Stock-Based Compens_2
Note 22 - Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2023 Fair value of options granted $ 3.03 Risk-free interest rate 3.80% Term (in years) 3.0 Volatility 60% Weighted-average expected dividend yield 0.00% |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Restricted Weighted-Average Stock Grant Date Units/Awards Fair Values Outstanding on December 31, 2022 1,140,877 $ 6.30 Granted 2,007,609 $ 3.90 Vested 583,810 $ 6.16 Forfeited 27,092 $ 5.37 Outstanding on December 31, 2023 2,537,584 $ 4.44 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Average Weighted Remaining Aggregate Shares Exercise Contractual Intrinsic Under Price Life Value Option Per Share (Years) ($ millions) Outstanding on December 31, 2022 6,884,311 $ 6.97 Granted 50,000 $ 4.28 Expired 161,203 $ 15.41 Exercised 25,000 $ 3.90 Outstanding on December 31, 2023 6,748,108 $ 6.75 3.35 $ 2 Exercisable on December 31, 2023 6,698,108 $ 6.77 3.33 $ 2 Expected to vest December 31, 2023 6,748,108 $ 6.75 3.35 $ 2 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2023 Weighted-average fair value of options granted $ 3.48 Weighted-average risk-free interest rate 3.75 % Expected option lives (in years) 4.5 Weighted-average volatility 120 % Expected dividend yield 0.00 % Year Ended December 31, 2023 Fair value of options granted $ 2.25 Risk-free interest rate 3.80 % Term (in years) 3.0 Volatility 60 % Weighted-average expected dividend yield 0.00 % February 16, 2023 Option Award Modifications Immediately Before Immediately After Range of fair values 0.000 -2.1414 1.322 -2.2424 Range of risk-free interest rates 3.82% - 4.99% 3.82% - 4.99% Range of remaining contractual terms (in years) 0.37 - 4.25 3.37 - 7.25 Range of weighted volatilities 66.96% - 103.39% 66.96% - 103.39% Expected dividend yield 0.00% 0.00% Early exercise model 2.5 2.5 Number of times steps 500 500 |
Note 24 - Other Comprehensive_2
Note 24 - Other Comprehensive (Loss) Income (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | Year Ended December 31, (in millions) 2023 2022 2021 Currency translation adjustments Currency translation adjustments $ (8 ) $ (12 ) $ 6 Pension and other postretirement benefit plan changes Newly established net actuarial (loss) gain (122 ) 277 632 Newly established prior service cost (29 ) (28 ) — Tax benefit — — — Newly established net actuarial (loss) gain, net of tax (151 ) 249 632 Reclassification adjustments: Amortization of prior service credit (cost) (a) 9 (4 ) (7 ) Amortization of actuarial (gains) losses (a) (31 ) 8 37 Recognition of losses due to settlements and curtailments (a) — — (1 ) Total reclassification adjustments (22 ) 4 29 Tax provision — — — Reclassification adjustments, net of tax (22 ) 4 29 Pension and other postretirement benefit plan changes, net of tax (173 ) 253 661 Other comprehensive (loss) income $ (181 ) $ 241 $ 667 |
Note 25 - Accumulated Other C_2
Note 25 - Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | As of December 31, (in millions) 2023 2022 Currency translation adjustments $ (120 ) $ (112 ) Pension and other postretirement benefit plan changes 401 574 Total $ 281 $ 462 |
Note 26 - Segment Information (
Note 26 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2023 2022 2021 (in millions) Print $ 828 $ 938 $ 908 Advanced Materials and Chemicals 255 234 212 Brand 17 17 15 Total of reportable segments 1,100 1,189 1,135 All Other 17 16 15 Total $ 1,117 $ 1,205 $ 1,150 Year Ended December 31, (in millions) 2023 2022 2021 Print $ 20 $ 5 $ 4 Advanced Materials and Chemicals 10 (1 ) (6 ) Brand 15 14 13 Total of reportable segments 45 18 11 All Other 2 3 2 Depreciation and amortization (30 ) (29 ) (31 ) Restructuring costs and other (10 ) (13 ) (6 ) Stock-based compensation (7 ) (5 ) (7 ) Consulting and other costs (1) 13 2 (19 ) Idle costs (2) (3 ) (3 ) (2 ) Other operating (expense) income, net (3) (6 ) 1 6 Interest expense (3) (52 ) (40 ) (33 ) Pension income excluding service cost component (3) 161 98 102 Loss on early extinguishment of debt (3) (27 ) — — Other income (charges), net (3) 1 (1 ) 5 Consolidated earnings from continuing operations before income taxes $ 87 $ 31 $ 28 (in millions) Year Ended December 31, Intangible asset amortization expense from continuing operations: 2023 2022 2021 Print $ 4 $ 4 $ 4 Brand — 1 1 Total $ 4 $ 5 $ 5 (in millions) Year Ended December 31, Depreciation expense from continuing operations: 2023 2022 2021 Print $ 17 $ 17 $ 20 Advanced Materials and Chemicals 7 6 5 All Other 1 1 1 Total $ 25 $ 24 $ 26 |
Long-Lived Assets by Geographic Areas [Table Text Block] | (in millions) Year Ended December 31, Long-lived assets located in: (1) 2023 2022 The United States $ 112 $ 95 Europe, Middle East and Africa 6 9 Asia Pacific 5 6 Canada and Latin America 46 44 Non-U.S. countries total (2) 57 59 Total $ 169 $ 154 |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Beginning Net Deductions Ending (in millions) Balance Additions and Other Balance Year ended December 31, 2023 Reserve for doubtful accounts $ 7 3 2 $ 8 Deferred tax valuation allowance $ 826 62 110 $ 778 Year ended December 31, 2022 Reserve for doubtful accounts $ 7 2 2 $ 7 Deferred tax valuation allowance $ 934 18 126 $ 826 Year ended December 31, 2021 Reserve for doubtful accounts $ 10 — 3 $ 7 Deferred tax valuation allowance $ 1,112 33 211 $ 934 |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies 1 (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Estimated Insurance Recoveries | $ 16 | $ 15 | |
Revenue, Remaining Performance Obligation, Amount | 98 | ||
Advertising Expense | 2 | 3 | $ 2 |
Other Noncurrent Assets [Member] | |||
Estimated Insurance Recoveries | 12 | 12 | |
Other Current Assets [Member] | |||
Estimated Insurance Recoveries | $ 4 | $ 3 | |
Minimum [Member] | |||
Revenue Recognition, Payment Terms (Day) | 30 days | ||
Maximum [Member] | |||
Revenue Recognition, Payment Terms (Day) | 60 days | ||
Software and Software Development Costs [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Software and Software Development Costs [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 10 years | ||
Equipment Subject To Operating Leases [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Equipment Subject To Operating Leases [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 7 years |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies 2 (Details Textual) | Dec. 31, 2023 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Percentage | 15% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Percentage | 15% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Percentage | 10% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Percentage | 10% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Percentage | 50% |
Note 1 - Basis of Presentatio_5
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Property, Plant and Equipment Estimated Useful Lives (Details) | Dec. 31, 2023 |
Minimum [Member] | Building and Building Improvements [Member] | |
Useful Life (Year) | 5 years |
Minimum [Member] | Land Improvements [Member] | |
Useful Life (Year) | 4 years |
Minimum [Member] | Leasehold Improvements [Member] | |
Useful Life (Year) | 3 years |
Minimum [Member] | Equipment [Member] | |
Useful Life (Year) | 3 years |
Minimum [Member] | Tooling [Member] | |
Useful Life (Year) | 1 year |
Minimum [Member] | Furniture and Fixtures [Member] | |
Useful Life (Year) | 5 years |
Maximum [Member] | Building and Building Improvements [Member] | |
Useful Life (Year) | 40 years |
Maximum [Member] | Land Improvements [Member] | |
Useful Life (Year) | 20 years |
Maximum [Member] | Leasehold Improvements [Member] | |
Useful Life (Year) | 20 years |
Maximum [Member] | Equipment [Member] | |
Useful Life (Year) | 20 years |
Maximum [Member] | Tooling [Member] | |
Useful Life (Year) | 3 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Useful Life (Year) | 10 years |
Note 2 - Cash, Cash Equivalen_3
Note 2 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Cash Collateralized Letter Of Credit Facility [Member] | ||
Restricted Cash and Investments, Noncurrent | $ 32 | $ 44 |
Cash Collateralized for Workers Compensation Obligations [Member] | ||
Restricted Cash and Investments, Noncurrent | 63 | |
CHINA | Lucky Hua Guang Graphics Co Ltd [Member] | ||
Restricted Cash and Investments, Current | 3 | |
Restricted Cash and Investments, Noncurrent | 5 | |
BRAZIL | ||
Restricted Cash and Investments, Noncurrent | 8 | 6 |
UNITED KINGDOM | ||
Restricted Cash and Investments, Noncurrent | $ 5 | $ 5 |
Note 2 - Cash, Cash Equivalen_4
Note 2 - Cash, Cash Equivalents and Restricted Cash - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | [1] | Dec. 31, 2020 | ||
Cash and cash equivalents | $ 255 | $ 217 | |||||
Restricted cash reported in Other current assets | 12 | 7 | |||||
Restricted cash | 110 | 62 | |||||
Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows | $ 377 | [1] | $ 286 | [1] | $ 423 | $ 256 | |
[1]Refer to Note 2, “Cash, Cash Equivalents and Restricted Cash” for the components of cash, cash equivalents and restricted cash. |
Note 3 - Inventories, Net - Sch
Note 3 - Inventories, Net - Schedule of Current Inventory (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Finished goods | $ 85 | $ 98 |
Work in process | 68 | 64 |
Raw materials | 64 | 75 |
Total | $ 217 | $ 237 |
Note 4 - Property, Plant and _3
Note 4 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Depreciation | $ 26 | $ 24 | $ 26 |
Note 4 - Property, Plant and _4
Note 4 - Property, Plant and Equipment, Net - Components (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Land | $ 55 | $ 51 |
Buildings and building improvements | 137 | 134 |
Machinery and equipment | 420 | 390 |
Construction in progress | 27 | 29 |
Property, plant and equipment, gross | 639 | 604 |
Accumulated depreciation | (470) | (450) |
Property, plant and equipment, net | $ 169 | $ 154 |
Note 5 - Goodwill and Other I_3
Note 5 - Goodwill and Other Intangible Assets (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Goodwill, Impairment Loss | $ 0 | $ 0 | ||
Amortization of Intangible Assets | 4,000 | 5,000 | $ 5,000 | |
Trade Names [Member] | ||||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | $ 1,000 | 1,000 | ||
Trade Names [Member] | Other Operating Income (Expense) [Member] | ||||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | $ 1,000 | 1,000 | ||
Print Segment [Member] | ||||
Number of Reporting Units | 4 | |||
Advanced Materials And Chemicals [Member] | ||||
Number of Reporting Units | 2 | |||
Goodwill, Impairment Loss | $ 0 | $ 0 |
Note 5 - Goodwill and Other I_4
Note 5 - Goodwill and Other Intangible Assets - Carrying Value of Goodwill by Reportable Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Goodwill | $ 12,000 | $ 12,000 |
Impairment | 0 | 0 |
Gross goodwill | 76,000 | |
Accumulated impairment losses | (64,000) | |
Goodwill | 12,000 | 12,000 |
Print [Member] | ||
Goodwill | 6,000 | 6,000 |
Impairment | 0 | 0 |
Gross goodwill | 62,000 | |
Accumulated impairment losses | (56,000) | |
Goodwill | 6,000 | 6,000 |
Advanced Materials And Chemicals [Member] | ||
Goodwill | 0 | 0 |
Impairment | 0 | 0 |
Gross goodwill | 8,000 | |
Accumulated impairment losses | (8,000) | |
Goodwill | 0 | 0 |
Brand [Member] | ||
Goodwill | 6,000 | 6,000 |
Impairment | 0 | 0 |
Gross goodwill | 6,000 | |
Accumulated impairment losses | 0 | |
Goodwill | $ 6,000 | $ 6,000 |
Note 5 - Goodwill and Other I_5
Note 5 - Goodwill and Other Intangible Assets - Gross Carrying Amount and Accumulated Amortization by Major Intangible Asset Category (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Intangible assets, accumulated amortization | $ 101 | $ 97 |
Finite-lived intangible assets, net | 7 | |
Intangible assets, gross carrying amount | 125 | 125 |
Intangible assets, net | 24 | 28 |
Trade Names [Member] | ||
Indefinite-lived intangible assets | 17 | 17 |
Technology-Based Intangible Assets [Member] | ||
Finite-lived intangible assets, gross carrying amount | 99 | 99 |
Intangible assets, accumulated amortization | 92 | 88 |
Finite-lived intangible assets, net | $ 7 | $ 11 |
Intangible assets, weighted average remaining amortization period (Year) | 2 years | 3 years |
Customer-Related Intangible Assets [Member] | ||
Finite-lived intangible assets, gross carrying amount | $ 9 | $ 9 |
Intangible assets, accumulated amortization | 9 | 9 |
Finite-lived intangible assets, net | $ 0 | $ 0 |
Intangible assets, weighted average remaining amortization period (Year) | 0 years | 1 year |
Note 5 - Goodwill and Other I_6
Note 5 - Goodwill and Other Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Millions | Dec. 31, 2023 USD ($) |
2024 | $ 4 |
2025 | 3 |
Total | $ 7 |
Note 6 - Other Current Liabil_3
Note 6 - Other Current Liabilities (Details Textual) | Dec. 31, 2023 |
Maximum [Member] | |
Percentage of Current Liabilities | 5% |
Note 6 - Other Current Liabil_4
Note 6 - Other Current Liabilities - Summary of Other Current Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred revenue and customer deposits | $ 37 | $ 40 |
Employment-related liabilities | 36 | 35 |
Customer rebates | 12 | 18 |
Workers' compensation | 10 | 9 |
Restructuring liabilities | 5 | 7 |
Accrued interest | 9 | 6 |
Preferred Stock dividends payable | 1 | 1 |
Other | 34 | 27 |
Total | $ 144 | $ 143 |
Note 7 - Long-term Liabilitie_2
Note 7 - Long-term Liabilities (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Contract with Customer, Liability | $ 100 | $ 51 |
Long-term Brand Licensing Agreements [Member] | ||
Contract with Customer, Liability | 57 | |
Proceeds From Licensing Arrangements | $ 12 | |
Long-term Brand Licensing Agreements [Member] | Minimum [Member] | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 5 years | |
Long-term Brand Licensing Agreements [Member] | Maximum [Member] | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 20 years | |
Long-term Brand Licensing Agreements [Member] | Trade Receivables [Member] | ||
Accounts Receivable, after Allowance for Credit Loss | $ 40 | |
Long-term Brand Licensing Agreements [Member] | Long-term Brand Licensing Agreements [Member] | ||
Accounts Receivable, after Allowance for Credit Loss | 5 | |
Long-term Brand Licensing Agreements [Member] | Other Noncurrent Liabilities [Member] | ||
Contract with Customer, Liability | 54 | |
Long-term Brand Licensing Agreements [Member] | Other Current Liabilities [Member] | ||
Contract with Customer, Liability | $ 3 |
Note 7 - Long-term Liabilitie_3
Note 7 - Long-term Liabilities - Summary of Other Long-Term Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | |
Workers' compensation | $ 56 | $ 59 | |
Asset retirement obligations | 43 | 43 | |
Deferred taxes | 27 | 27 | |
Deferred brand licensing revenue (1) | [1] | 63 | 11 |
Environmental liabilities | 9 | 8 | |
Embedded conversion option derivative liabilities | 2 | 4 | |
Other | 13 | 19 | |
Total | $ 213 | $ 171 | |
[1]During the third quarter of 2023, Kodak entered into multiple long-term brand licensing arrangements and recorded additional deferred revenue of approximately $57 million, of which $54 million is recorded in Other long-term liabilities and $3 million in Other current liabilities on the Consolidated Statement of Financial Position. Kodak received approximately $8 million of cash proceeds related to these licensing arrangements during the third quarter and approximately $44 million and $5 million, respectively was recorded as an offset in Trade Receivables, net and Other long-term assets on the Consolidated Statement of Financial Position. Kodak will recognize the total deferred revenue amount ratably over the term of the respective arrangements, ranging from five to twenty years. Kodak determined that the contracts did not have a significant financing component. |
Note 8 - Debt and Credit Faci_3
Note 8 - Debt and Credit Facilities (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 7 Months Ended | 12 Months Ended | |||||||||||||
Jul. 21, 2023 USD ($) | Mar. 31, 2023 USD ($) | Feb. 26, 2021 USD ($) $ / shares shares | Jan. 31, 2019 USD ($) | Aug. 31, 2023 USD ($) | Jan. 31, 2019 USD ($) | Mar. 31, 2024 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) $ / shares | Jul. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) | Feb. 26, 2024 USD ($) | Jun. 30, 2023 USD ($) | May 31, 2023 USD ($) | Mar. 14, 2023 USD ($) | Feb. 25, 2021 USD ($) | |
Long-Term Debt, Total | $ 458,000,000 | $ 458,000,000 | $ 317,000,000 | |||||||||||||||
Gain (Loss) on Extinguishment of Debt | $ (27,000,000) | $ 0 | $ 0 | |||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||
Proceeds from Issuance of Common Stock | $ 0 | $ 0 | 10,000,000 | |||||||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 2,000,000 | 2,000,000 | 4,000,000 | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,117,000,000 | $ 1,205,000,000 | 1,150,000,000 | |||||||||||||||
Percentage Of Aggregate Sales Of Unrestricted Subsidiaries To Consolidated Sales Of Entity | 1% | |||||||||||||||||
Assets | 2,355,000,000 | 2,355,000,000 | $ 2,285,000,000 | |||||||||||||||
Percentage Of Aggregate Assets Of Unrestricted Subsidiaries To Consolidated Assets Of Entity | 1% | |||||||||||||||||
A B L Credit Agreement [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 90,000,000 | |||||||||||||||||
L C Facility Agreement [Member] | ||||||||||||||||||
Line of Credit Facility, Daily Minimum Liquidity | $ 50,000,000 | |||||||||||||||||
Letters of Credit Outstanding, Amount | $ 31,000,000 | 31,000,000 | $ 43,000,000 | |||||||||||||||
Line of Credit Facility, Aggregate Cash Collateral Percentage | 104% | |||||||||||||||||
Letter of Credit, Commitment Amount | $ 50,000,000 | 50,000,000 | $ 100,000,000 | 50,000,000 | ||||||||||||||
Letters of Credit, Amount Transferred | $ 58,000,000 | |||||||||||||||||
Proceeds From Issuance of Debt, Collateralize Letters of Credit | 59,000,000 | |||||||||||||||||
Reductions of Collateral Account to Fund Liabilities | $ 68,000,000 | |||||||||||||||||
Letter Of Credit Cash Collateral | 32,000,000 | $ 32,000,000 | 44,000,000 | |||||||||||||||
Line of Credit Facility, Percentage of Letter of Credit Fee | 3.75% | |||||||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.25% | |||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||||||||||||||
Amended A B L Credit Agreement [Member] | ||||||||||||||||||
Lender Commitments Threshold Trigger Excess Availability Amount | $ 11,250,000 | $ 11,250,000 | ||||||||||||||||
Excess Availability Percentage Of Lender Commitments Threshold Triggering Cash Dominion Control | 12.50% | |||||||||||||||||
Excess Availability Below Which Fixed Charge Coverage Ratios Triggered | 12.50% | |||||||||||||||||
Fixed Charged Coverage Ratio Required | 1 | |||||||||||||||||
Amended A B L Credit Agreement [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 90,000,000 | $ 110,000,000 | ||||||||||||||||
Lender Commitments Threshold Trigger Excess Availability Amount | 11,250,000 | $ 11,250,000 | $ 11,250,000 | $ 13,750,000 | ||||||||||||||
Line of Credit Facility, Daily Minimum Liquidity | 50,000,000 | |||||||||||||||||
Line of Credit Facility, Quarterly Minimum Liquidity | $ 80,000,000 | |||||||||||||||||
Letters of Credit Outstanding, Amount | $ 58,000,000 | |||||||||||||||||
Minimum Liquidity Current Balance | $ 143,000,000 | $ 150,000,000 | ||||||||||||||||
Excess Availability Percentage Of Lender Commitments Threshold Triggering Cash Dominion Control | 12.50% | 12.50% | ||||||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 21,000,000 | $ 17,000,000 | ||||||||||||||||
Excess Availability Below Which Fixed Charge Coverage Ratios Triggered | 12.50% | |||||||||||||||||
Amended A B L Credit Agreement [Member] | Scenario, Plan [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 81,000,000 | |||||||||||||||||
A B L Credit Agreement [Member] | ||||||||||||||||||
Lender Commitments Threshold Trigger Excess Availability Amount | $ 11,250,000 | |||||||||||||||||
Excess Availability Below Which Fixed Charge Coverage Ratios Triggered | 12.50% | |||||||||||||||||
Proforma Fixed Charge Coverage Ratio | 1 | 1 | ||||||||||||||||
Consolidated EBITDA Exceeding Fixed Charges, Amount | $ 9,000,000 | |||||||||||||||||
Percentage Of Aggregate Consolidated Sales To Qualify Restricted Subsidiaries To Be Designated As Unrestricted Subsidiaries | 7.50% | |||||||||||||||||
Percentage Of Aggregate Consolidated Assets To Qualify Restricted Subsidiaries To Be Designated As Unrestricted Subsidiaries | 7.50% | |||||||||||||||||
A B L Credit Agreement [Member] | Unrestricted Subsidiaries [Member] | ||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 6,000,000 | 7,000,000 | ||||||||||||||||
Assets | 12,000,000 | |||||||||||||||||
Letter Of Credit Facility Agreement [Member] | ||||||||||||||||||
Line of Credit Facility, Aggregate Cash Collateral Percentage | 103% | |||||||||||||||||
Minimum Liquidity Requirement | 80,000,000 | |||||||||||||||||
Two Thousand Twenty One Notes Embedded Derivative [Member] | ||||||||||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 12,000,000 | $ 5,000,000 | 2,000,000 | |||||||||||||||
Original Term Loan Credit Agreement [Member] | ||||||||||||||||||
Long-Term Debt, Total | 293,000,000 | |||||||||||||||||
Proceeds from Issuance of Debt | $ 0 | 49,000,000 | 215,000,000 | |||||||||||||||
Repayments of Debt | 316,000,000 | 316,000,000 | 0 | 0 | ||||||||||||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 2,000,000 | |||||||||||||||||
Gain (Loss) on Extinguishment of Debt | $ (23,000,000) | |||||||||||||||||
Two Thousand Twenty One Convertible Debt [Member] | ||||||||||||||||||
Debt Instrument, Face Amount | $ 25,000,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5% | |||||||||||||||||
Gain (Loss) on Extinguishment of Debt | $ (4,000,000) | |||||||||||||||||
Debt Instrument, Convertible, Conversion Ratio | 100 | |||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 1,000 | |||||||||||||||||
Initial Conversion Price Per Share of Common Stock (in dollars per share) | $ / shares | $ 10 | |||||||||||||||||
Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) | $ / shares | $ 14.5 | |||||||||||||||||
Holder Fundamental Transaction Election Period (Day) | 30 days | |||||||||||||||||
Convertible Notes Payable, Noncurrent | 18,000,000 | |||||||||||||||||
Convertible Debt, Fair Value Disclosures | 24,000,000 | 16,000,000 | ||||||||||||||||
Extinguishment of Debt, Amount | 28,000,000 | |||||||||||||||||
UNITED STATES | ||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 483,000,000 | $ 486,000,000 | $ 426,000,000 | |||||||||||||||
Minimum [Member] | Amended A B L Credit Agreement [Member] | ||||||||||||||||||
Fixed Charged Coverage Ratio Required | 1 | 1 | ||||||||||||||||
Minimum [Member] | Revolving Credit Facility [Member] | A B L Credit Agreement [Member] | ||||||||||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.375% | |||||||||||||||||
Minimum [Member] | Two Thousand Twenty One Convertible Debt [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 45 | |||||||||||||||||
Maximum [Member] | Revolving Credit Facility [Member] | A B L Credit Agreement [Member] | ||||||||||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |||||||||||||||||
Maximum [Member] | Two Thousand Twenty One Convertible Debt [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 60 | |||||||||||||||||
Term Loan Credit Agreement [Member] | ||||||||||||||||||
Long-Term Debt, Total | $ 225,000,000 | |||||||||||||||||
Long Term Debt, Maximum Additional Proceeds | $ 50,000,000 | |||||||||||||||||
Term Loan Credit Agreement [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||
Common Stock, Shares, Issued (in shares) | shares | 1,000,000 | |||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | |||||||||||||||||
Sale of Stock, Price Per Share (in dollars per share) | $ / shares | $ 10 | |||||||||||||||||
Proceeds from Issuance of Common Stock | $ 10,000,000 | |||||||||||||||||
Refinancing Term Loans [Member] | ||||||||||||||||||
Debt Instrument, Face Amount | $ 450,000,000 | $ 450,000,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Annum Payable | 7.50% | 7.50% | ||||||||||||||||
Debt Instrument, Interest Rate, Payable In-kind | 5% | 5% | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.50% | 12.50% | ||||||||||||||||
Debt Instrument, Collateral Amount | $ 4,205,000,000 | $ 4,205,000,000 | ||||||||||||||||
Refinancing Term Loans [Member] | Subsequent Event [Member] | ||||||||||||||||||
Repayments of Debt | $ 17,000,000 | |||||||||||||||||
Refinancing Term Loans [Member] | UNITED STATES | ||||||||||||||||||
Maximum Amount Liquidity Required | 85,000,000 | 85,000,000 | ||||||||||||||||
Refinancing Term Loans [Member] | Minimum [Member] | ||||||||||||||||||
Debt Instrument, Material Indebtness | 20,000,000 | 20,000,000 | ||||||||||||||||
Refinancing Term Loans [Member] | Minimum [Member] | UNITED STATES | ||||||||||||||||||
Maximum Amount Liquidity Required | 60,000,000 | 60,000,000 | ||||||||||||||||
Refinancing Term Loans [Member] | Maximum [Member] | ||||||||||||||||||
Debt Instrument, Material Indebtness | $ 25,000,000 | $ 25,000,000 | ||||||||||||||||
Refinancing Term Loans [Member] | Used to Refinance Obligations [Member] | ||||||||||||||||||
Proceeds from Issuance of Debt | 435,000,000 | |||||||||||||||||
Refinancing Term Loans [Member] | General Corporate Purposes and Working Capital Needs [Member] | ||||||||||||||||||
Proceeds from Issuance of Debt | $ 29,000,000 | |||||||||||||||||
Arrangements with R E D Rochester L L C [Member] | ||||||||||||||||||
Long-Term Debt, Total | $ 14,000,000 | $ 14,000,000 | ||||||||||||||||
Proceeds from Issuance of Long-Term Debt | $ 14,000,000 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 2,000,000 |
Note 8 - Debt and Credit Faci_4
Note 8 - Debt and Credit Facilities - Related Maturities and Interest Rates (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 31, 2019 |
Short-term borrowings and current portion of long-term debt | $ 1 | $ 1 | |
Long-term debt, net of current portion | 457 | 316 | |
Long-Term Debt | $ 458 | 317 | |
Arrangements with R E D Rochester L L C [Member] | |||
Weighted average effective interest rate | 11.45% | ||
Short-term borrowings and current portion of long-term debt | $ 1 | 1 | |
Long-term debt, net of current portion | $ 10 | 11 | |
Long-Term Debt | $ 14 | ||
Term Loans [Member] | |||
Weighted average effective interest rate | 13.72% | ||
Long-term debt, net of current portion | $ 446 | $ 0 | |
Original Term Loan Credit Agreement [Member] | |||
Weighted average effective interest rate | 13.68% | ||
Long-term debt, net of current portion | 0 | $ 286 | |
Convertible Notes [Member] | |||
Weighted average effective interest rate | 17.28% | ||
Long-term debt, net of current portion | 0 | $ 18 | |
Finance Leases [Member] | |||
Long-term debt, net of current portion | $ 1 | $ 1 |
Note 8 - Debt and Credit Faci_5
Note 8 - Debt and Credit Facilities - Schedule of Maturities of Debt and Finance Leases Outstanding (Details) $ in Millions | Dec. 31, 2023 USD ($) |
2024, Carrying value | $ 1 |
2024, Maturity value | 1 |
2025, Carrying value | 1 |
2026, Carrying value | 1 |
2026, Maturity value | 1 |
2027, Carrying value | 1 |
2027, Maturity value | 1 |
2028, Carrying value | 447 |
2028, Maturity value | 582 |
2029 and thereafter, Carrying value | 7 |
2029 and thereafter, Maturity value | 7 |
Total, Carrying value | 458 |
Total, Maturity value | $ 593 |
Note 9 - Redeemable, Converti_3
Note 9 - Redeemable, Convertible Preferred Stock (Details Textual) | 1 Months Ended | 12 Months Ended | ||||||||
Feb. 26, 2024 | Feb. 26, 2023 | Mar. 30, 2021 USD ($) shares | Feb. 26, 2021 USD ($) $ / shares shares | Nov. 15, 2016 USD ($) $ / shares shares | Jul. 31, 2020 USD ($) | Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) $ / shares shares | Feb. 28, 2021 shares | |
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 | |||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 2,000,000 | $ 4,000,000 | ||||||||
Series A Preferred Stock [Member] | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 5.50% | |||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 198,000,000 | |||||||||
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ / shares | $ 100 | |||||||||
Stock Repurchased During Period, Shares (in shares) | shares | 1,000,000 | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 0 | 0 | $ 100,000,000 | |||||||
Common Stock Price Equal Or Exceeds Preferred Stock Conversion Price Percentage | 125% | |||||||||
Net Proceeds Received Allocated To Derivative Liability | $ 43,000,000 | |||||||||
Temporary Equity Issuance Of Redeemable Convertible Preferred Stock Net Of Offering Costs And Derivative Liability | 155,000,000 | |||||||||
Gross Proceeds From Issuance Of Preferred Stock And Preference Stock | 200,000,000 | |||||||||
Derivative Liability, Subject to Master Netting Arrangement, before Offset | 43,000,000 | |||||||||
Transaction Costs | $ 2,000,000 | |||||||||
Temporary Equity Preferred Stock Prior To Extinguishment Carrying Value | $ 203,000,000 | |||||||||
Temporary Equity Deemed Preferred Stock Dividends | $ 8,000,000 | |||||||||
Dividends, Total | $ 11,000,000 | |||||||||
Series A Preferred Stock [Member] | Purchase Agreement [Member] | ||||||||||
Temporary Equity, Shares Issued (in shares) | shares | 2,000,000 | |||||||||
Preferred Stock, Dividend Rate, Percentage | 5.50% | |||||||||
Temporary Equity, Liquidation Preference | $ 200,000,000 | |||||||||
Temporary Equity, Liquidation Preference Per Share (in dollars per share) | $ / shares | $ 100 | |||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | shares | 5.7471 | |||||||||
Preferred Stock Initial Conversion Price Per Share Of Common Stock (in dollars per share) | $ / shares | $ 17.4 | |||||||||
Series A Preferred Stock [Member] | Repurchase And Exchange Agreement [Member] | ||||||||||
Stock Repurchased During Period, Shares (in shares) | shares | 1,000,000 | |||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 100,641,667 | |||||||||
Series B Preferred Stock [Member] | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 4% | |||||||||
Temporary Equity, Liquidation Preference Per Share (in dollars per share) | $ / shares | $ 100 | |||||||||
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ / shares | $ 100 | |||||||||
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 | |||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | shares | 1,000,000 | |||||||||
Temporary Equity Issuance Of Redeemable Convertible Preferred Stock Net Of Offering Costs And Derivative Liability | $ 93,000,000 | |||||||||
Derivative Liability, Subject to Master Netting Arrangement, before Offset | 1,000,000 | |||||||||
Temporary Equity, Fair Value of Preferred Stock at Issuance | 95,000,000 | |||||||||
Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) | $ / shares | $ 14.5 | |||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 1,000,000 | |||||||||
Series B Preferred Stock [Member] | Other Noncurrent Liabilities [Member] | ||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 1,000,000 | $ 1,000,000 | ||||||||
Series B Preferred Stock [Member] | Minimum [Member] | ||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 45 | |||||||||
Series B Preferred Stock [Member] | Maximum [Member] | ||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 60 | |||||||||
Series B Preferred Stock [Member] | Purchase Agreement [Member] | ||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | shares | 9.5238 | |||||||||
Temporary Equity, Fair Value of Preferred Stock at Issuance | $ 95,000,000 | |||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 10.5 | |||||||||
Series B Preferred Stock [Member] | Repurchase And Exchange Agreement [Member] | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 4% | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 1,000,000 | |||||||||
Dividends and Interest Paid | $ 641,667 | |||||||||
Series C Preferred Stock [Member] | ||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 0 | 0 | $ 99,000,000 | |||||||
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ / shares | $ 100 | |||||||||
Temporary Equity Issuance Of Redeemable Convertible Preferred Stock Net Of Offering Costs And Derivative Liability | 97,000,000 | |||||||||
Derivative Liability, Subject to Master Netting Arrangement, before Offset | $ 2,000,000 | |||||||||
Transaction Costs | 1,000,000 | |||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 2,000,000 | |||||||||
Series C Preferred Stock [Member] | After February Twenty Six Two Thousand Twenty Three [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 | $ 1,000,000 | $ 1,000,000 | ||||||||
Series C Preferred Stock [Member] | Minimum [Member] | ||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 45 | |||||||||
Series C Preferred Stock [Member] | Maximum [Member] | ||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 60 | |||||||||
Series C Preferred Stock [Member] | Purchase Agreement [Member] | ||||||||||
Temporary Equity, Shares Issued (in shares) | shares | 250,000 | 750,000 | 100,000,000 | |||||||
Preferred Stock, Dividend Rate, Percentage | 5% | |||||||||
Temporary Equity, Liquidation Preference Per Share (in dollars per share) | $ / shares | $ 100 | |||||||||
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 | |||||||||
Gross Proceeds From Issuance Of Preferred Stock And Preference Stock | $ 25,000,000 | $ 75,000,000 | ||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 10 | |||||||||
Convertible Preferred Stock, Shares Reserved for Future Issuance (in shares) | shares | 1,000,000 | |||||||||
Gross Proceeds Owed on Issuance of PreferredStock | $ 100,000,000 | |||||||||
Series C Preferred Stock [Member] | Dividend And Other Rights [Member] | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 5% |
Note 9 - Redeemable, Converti_4
Note 9 - Redeemable, Convertible Preferred Stock - Schedule of Redeemable, Convertible Preferred Stock (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Redeemable, convertible preferred stock | $ 210 | $ 203 |
Series B Preferred Stock [Member] | ||
Redeemable, convertible preferred stock | 96 | 95 |
Series C Preferred Stock [Member] | ||
Redeemable, convertible preferred stock | $ 114 | $ 108 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Sales-Type Lease, Net Investment in Lease, before Allowance for Credit Loss | $ 3 | $ 4 |
Note 10 - Leases - Lease Relate
Note 10 - Leases - Lease Related Assets and Liabilities - Lease Related Assets and Liabilities on Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Operating lease right-of-use assets | $ 30 | $ 39 |
Total lease assets | 31 | 40 |
Current portion of operating leases | 13 | 15 |
Operating leases, net of current portion | 24 | 31 |
Total lease liabilities | 38 | 47 |
Property, Plant and Equipment, Net [Member] | ||
Finance lease assets | 1 | 1 |
Long-term Debt, Net of Current Portion [Member] | ||
Finance, noncurrent | $ 1 | $ 1 |
Note 10 - Leases - Lease Expens
Note 10 - Leases - Lease Expense (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Amortization of leased assets | $ 1 | $ 1 | $ 1 | |
Interest on lease liabilities | 0 | 0 | 0 | |
Operating lease expense | 16 | 17 | 19 | |
Variable lease expense (1) | [1] | 7 | 7 | 9 |
Total lease expense | $ 24 | $ 25 | $ 29 | |
[1]Variable lease expense is related to real estate leases and primarily includes taxes, insurance and operating costs. |
Note 10 - Leases - Schedule of
Note 10 - Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating cash flows for operating leases | $ 20 | $ 19 | $ 21 |
Operating cash flow for finance leases | 0 | 0 | 0 |
Financing cash flow for finance leases | 1 | 1 | 1 |
Total | $ 21 | $ 20 | $ 22 |
Operating (Year) | 5 years | 5 years | 5 years |
Finance (Year) | 3 years | 3 years | 2 years |
Operating | 13.22% | 12.17% | 11.91% |
Finance | 6.42% | 5.18% | 5.56% |
Note 10 - Leases - Summary of U
Note 10 - Leases - Summary of Undiscounted Cash Flows to Be Paid for Leases (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
2024, operating leases | $ 17 | |
2024, finance leases | 0 | |
2025, operating leases | 8 | |
2025, finance leases | 1 | |
2026, operating leases | 6 | |
2026, finance leases | 0 | |
2027, operating leases | 5 | |
2027, finance leases | 0 | |
2028, operating leases | 5 | |
2028, finance leases | 0 | |
Thereafter, operating leases | 13 | |
Thereafter, finance leases | 0 | |
Total minimum lease payments, operating leases | 54 | |
Total minimum lease payments, finance leases | 1 | |
Less: amount of lease payments representing interest, operating leases | (17) | |
Less: amount of lease payments representing interest, finance leases | 0 | |
Present value of future minimum lease payments, operating leases | 37 | |
Less: current obligations under leases, operating leases | 13 | $ 15 |
Long-term lease obligations, operating leases | 24 | 31 |
Long-term and Short-term Debt [Member] | ||
Present value of future minimum lease payments, finance leases | 1 | |
Short-term Borrowings and Current Portion of Long-term Debt [Member] | ||
Less: current obligations under leases, finance leases | 0 | |
Long-term Debt, Net of Current Portion [Member] | ||
Long-term lease obligations, finance leases | $ 1 | $ 1 |
Note 10 - Leases - Summary of_2
Note 10 - Leases - Summary of Undiscounted Cash Flows to Be Received for Net Investment in Sales-type Leases (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
2024 | $ 1 | |
2025 | 1 | |
2026 and thereafter | 1 | |
Total minimum lease payments | 3 | |
Less: unearned interest | 0 | |
Net investment in sales-type leases | $ 3 | $ 4 |
Note 10 - Leases - Lessor Opera
Note 10 - Leases - Lessor Operating Payments to be Received Maturity (Details) $ in Millions | Dec. 31, 2023 USD ($) |
2024, lessor operating payments | $ 9 |
2025, lessor operating payments | 5 |
2026, lessor operating payments | 3 |
2027, lessor operating payments | 2 |
2028, lessor operating payments | 2 |
Thereafter, lessor operating payments | 6 |
Total minimum lease payments | $ 27 |
Note 10 - Leases - Summary of I
Note 10 - Leases - Summary of Income Recognized on Lease Arrangements (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Lease income - sales-type leases | $ 1 | $ 1 | $ 3 | |
Lease income - operating leases | 9 | 8 | 8 | |
Variable lease income (1) | [1] | 5 | 5 | 5 |
Total lease income | $ 15 | $ 14 | $ 16 | |
[1]Variable lease income primarily represents operating costs under real estate leases and incremental variable income based on usage under equipment leases. |
Note 10 - Leases - Equipment Su
Note 10 - Leases - Equipment Subject to Operating Leases and Related Accumulated Depreciation (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Equipment subject to operating leases | $ 26 | $ 19 |
Accumulated depreciation | (18) | (16) |
Equipment subject to operating leases, net | $ 8 | $ 3 |
Note 11 - Commitments and Con_3
Note 11 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2020 | |
U S International Development Finance Corporation [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 765 | ||
BRAZIL | |||
Restricted Cash and Investments, Noncurrent | $ 8 | $ 6 | |
Federal And State Value Added Taxes Litigations And Civil Litigation And Disputes With Former Employees [Member] | BRAZIL | |||
Restricted Cash | 122 | ||
Loss Contingency Accrual | 4 | ||
Aggregate Claims | 127 | ||
Loss Contingency, Estimate of Possible Loss | 6 | ||
Restricted Cash and Investments, Noncurrent | 8 | ||
Assets, Noncurrent | 45 | ||
Bank Guarantees And Letters Of Credit [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 1 | ||
Surety Bond [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 19 | ||
L C Facility Agreement [Member] | |||
Letters of Credit Outstanding, Amount | $ 31 |
Note 11 - Commitments and Con_4
Note 11 - Commitments and Contingencies - Schedule of Asset Retirement Obligation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Asset Retirement Obligations at start of period | $ 43 | $ 42 |
Liabilities incurred in the current period | 0 | 1 |
Liabilities settled in the current period | 0 | (2) |
Revision in estimated cash flows | 0 | 2 |
Asset Retirement Obligations at end of period | $ 43 | $ 43 |
Note 12 - Guarantees (Details T
Note 12 - Guarantees (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Product Warranty Expense | $ 77 | $ 78 | $ 82 |
Warranty Arrangement Period [Member] | |||
Extended Warranty Period (Year) | 1 year | ||
Minimum [Member] | |||
Environmental Settlement, Historical Liabilities Trigger Amount | $ 99 | ||
Extended Warranty Period (Year) | 3 months | ||
Maximum [Member] | |||
Percentage of Liability Above 99 Million | 50% | ||
Extended Warranty Period (Year) | 6 years |
Note 12 - Guarantees - Deferred
Note 12 - Guarantees - Deferred Revenue by Arrangement (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Deferred revenue on extended warranties | $ 51 | |
Deferred revenue on extended warranties | 100 | $ 51 |
Extended Warranty Arrangements [Member] | ||
Deferred revenue on extended warranties | 19 | 19 |
New extended warranty and maintenance arrangements | 87 | 89 |
Recognition of extended warranty and maintenance arrangement revenue | (89) | (89) |
Deferred revenue on extended warranties | $ 17 | $ 19 |
Note 13 - Financial Instrumen_3
Note 13 - Financial Instruments (Details Textual) - USD ($) $ in Thousands, shares in Millions | 12 Months Ended | ||
Feb. 26, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | |
Derivatives Hedging Instruments | $ 0 | $ 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Long-Term Debt, Fair Value | 396,000 | 271,000 | |
Forward Contracts [Member] | |||
Foreign Currency Contract, Asset, Fair Value Disclosure | 3,000 | 1,000 | |
Foreign Currency Contracts, Liability, Fair Value Disclosure | 0 | 1,000 | |
Series A Preferred Stock [Member] | |||
Stock Repurchased During Period, Shares (in shares) | 1 | ||
Remaining Embedded Conversion Features And Term Extension Option Net Expense | $ 2,000 | ||
Series B Preferred Stock [Member] | |||
Stock Issued During Period Number Of New Shares Exchanged (in shares) | 1 | ||
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative Asset, Notional Amount | $ 279,000 | $ 308,000 |
Note 13 - Financial Instrumen_4
Note 13 - Financial Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 21, 2022 | Dec. 31, 2021 | |
Net loss (gain) from derivatives not designated as hedging instruments | $ 12 | $ 16 | $ (1) |
Note 13 - Financial Instrumen_5
Note 13 - Financial Instruments - Gain (Loss) on Embedded Derivatives (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives | [1],[2] | $ 2 | $ (3) | $ (7) |
[1]Refer to Note 13, “Financial Instruments”.[2]Refer to Note 14, “Financial Instruments”. |
Note 13 - Financial Instrumen_6
Note 13 - Financial Instruments - Derivative Liability Key Inputs in Determination of Fair Value for Embedded Conversion Features (Details) $ / shares in Units, $ in Millions | Dec. 31, 2023 USD ($) $ / shares | Jul. 21, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) $ / shares | Feb. 26, 2021 USD ($) |
Embedded conversion option derivative liabilities | $ 2 | $ 4 | ||
Series B Preferred Stock [Member] | ||||
Embedded conversion option derivative liabilities | $ 1 | |||
Series C Preferred Stock [Member] | ||||
Embedded conversion option derivative liabilities | $ 2 | |||
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | ||||
Embedded conversion option derivative liabilities | $ 1 | $ 1 | ||
Kodak's closing stock price (in dollars per share) | $ / shares | $ 3.9 | $ 3.05 | ||
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | Measurement Input, Price Volatility [Member] | ||||
Alternative Investment, Measurement Input | 0.60 | 0.50 | ||
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Alternative Investment, Measurement Input | 0.0414 | 0.0417 | ||
Fair Value, Inputs, Level 3 [Member] | Series B Preferred Stock [Member] | Measurement Input, Credit Spread [Member] | ||||
Alternative Investment, Measurement Input | 0.1834 | 0.2719 | ||
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | ||||
Embedded conversion option derivative liabilities | $ 1 | $ 1 | ||
Kodak's closing stock price (in dollars per share) | $ / shares | $ 3.9 | $ 3.05 | ||
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | Measurement Input, Price Volatility [Member] | ||||
Alternative Investment, Measurement Input | 0.60 | 0.50 | ||
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Alternative Investment, Measurement Input | 0.0414 | 0.0417 | ||
Fair Value, Inputs, Level 3 [Member] | Series C Preferred Stock [Member] | Measurement Input, Credit Spread [Member] | ||||
Alternative Investment, Measurement Input | 0.2034 | 0.2919 | ||
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | ||||
Embedded conversion option derivative liabilities | $ 5 | $ 2 | ||
Kodak's closing stock price (in dollars per share) | $ / shares | $ 5.26 | $ 3.05 | ||
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | Measurement Input, Price Volatility [Member] | ||||
Alternative Investment, Measurement Input | 0.60 | 0.50 | ||
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Alternative Investment, Measurement Input | 0.045 | 0.0417 | ||
Fair Value, Inputs, Level 3 [Member] | Two Thousand Twenty One Convertible Notes [Member] | Measurement Input, Credit Spread [Member] | ||||
Alternative Investment, Measurement Input | 0.1775 | 0.2619 |
Note 14 - Revenues - Disaggrega
Note 14 - Revenues - Disaggregated Revenue by Major Product, Product Portfolio Summary, and Geography (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,117 | $ 1,205 | $ 1,150 | ||
Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 1,069 | 1,156 | 1,110 | |
Plates Inks And Other Consumables [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 597 | 678 | 621 | |
Ongoing Service Arrangements [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 185 | 205 | 213 | |
Annuities [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 782 | 883 | 834 | |
Equipment and Software [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 72 | 81 | 96 | |
Film and Chemicals [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 215 | 192 | 180 | |
Growth Products [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 14 | 16 | 9 | |
Other [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 34 | 33 | 31 | |
UNITED STATES | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 483 | 486 | 426 | ||
CANADA | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 19 | 22 | 22 | ||
North America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 502 | 508 | 448 | ||
EMEA [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 380 | [4] | 429 | 404 | |
Asia Pacific [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 211 | [4] | 234 | 265 | |
Latin America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 24 | [4] | 34 | 33 | |
Print [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 828 | 938 | 908 | ||
Print [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 828 | 938 | 908 | |
Print [Member] | Plates Inks And Other Consumables [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 571 | 652 | 599 | |
Print [Member] | Ongoing Service Arrangements [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 185 | 205 | 213 | |
Print [Member] | Annuities [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 756 | 857 | 812 | |
Print [Member] | Equipment and Software [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 72 | 81 | 96 | |
Print [Member] | Film and Chemicals [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Print [Member] | Growth Products [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 0 | 0 | 0 | |
Print [Member] | Other [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 0 | 0 | 0 | |
Print [Member] | UNITED STATES | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 250 | 276 | 244 | ||
Print [Member] | CANADA | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17 | 20 | 20 | ||
Print [Member] | North America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 267 | 296 | 264 | ||
Print [Member] | EMEA [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 360 | [4] | 410 | 387 | |
Print [Member] | Asia Pacific [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 178 | [4] | 199 | 224 | |
Print [Member] | Latin America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 23 | [4] | 33 | 33 | |
Advanced Materials And Chemicals [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 255 | 234 | 212 | ||
Advanced Materials And Chemicals [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 241 | 218 | 202 | |
Advanced Materials And Chemicals [Member] | Plates Inks And Other Consumables [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 26 | 26 | 22 | |
Advanced Materials And Chemicals [Member] | Ongoing Service Arrangements [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Advanced Materials And Chemicals [Member] | Annuities [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 26 | 26 | 22 | |
Advanced Materials And Chemicals [Member] | Equipment and Software [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Advanced Materials And Chemicals [Member] | Film and Chemicals [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 215 | 192 | 180 | |
Advanced Materials And Chemicals [Member] | Growth Products [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 14 | 16 | 9 | |
Advanced Materials And Chemicals [Member] | Other [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 0 | 0 | 1 | |
Advanced Materials And Chemicals [Member] | UNITED STATES | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 199 | 177 | 152 | ||
Advanced Materials And Chemicals [Member] | CANADA | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2 | 2 | 2 | ||
Advanced Materials And Chemicals [Member] | North America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 201 | 179 | 154 | ||
Advanced Materials And Chemicals [Member] | EMEA [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 20 | [4] | 19 | 17 | |
Advanced Materials And Chemicals [Member] | Asia Pacific [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 33 | [4] | 35 | 41 | |
Advanced Materials And Chemicals [Member] | Latin America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1 | [4] | 1 | 0 | |
Brand [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17 | 17 | 15 | ||
Brand [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Brand [Member] | Plates Inks And Other Consumables [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Brand [Member] | Ongoing Service Arrangements [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Brand [Member] | Annuities [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Brand [Member] | Equipment and Software [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Brand [Member] | Film and Chemicals [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
Brand [Member] | Growth Products [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 0 | 0 | 0 | |
Brand [Member] | Other [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 17 | 17 | 15 | |
Brand [Member] | UNITED STATES | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17 | 17 | 15 | ||
Brand [Member] | CANADA | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | ||
Brand [Member] | North America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17 | 17 | 15 | ||
Brand [Member] | EMEA [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | [4] | 0 | 0 | |
Brand [Member] | Asia Pacific [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | [4] | 0 | 0 | |
Brand [Member] | Latin America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | [4] | 0 | 0 | |
All Other [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17 | 16 | 15 | ||
All Other [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
All Other [Member] | Plates Inks And Other Consumables [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
All Other [Member] | Ongoing Service Arrangements [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
All Other [Member] | Annuities [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
All Other [Member] | Equipment and Software [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
All Other [Member] | Film and Chemicals [Member] | Core [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [1] | 0 | 0 | 0 | |
All Other [Member] | Growth Products [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [2] | 0 | 0 | 0 | |
All Other [Member] | Other [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | [3] | 17 | 16 | 15 | |
All Other [Member] | UNITED STATES | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17 | 16 | 15 | ||
All Other [Member] | CANADA | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | ||
All Other [Member] | North America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 17 | 16 | 15 | ||
All Other [Member] | EMEA [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | [4] | 0 | 0 | |
All Other [Member] | Asia Pacific [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | [4] | 0 | 0 | |
All Other [Member] | Latin America [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 0 | [4] | $ 0 | $ 0 | |
[1]Core includes the Print business, Motion Picture, Industrial Film and Chemicals, and excludes coating and product commercialization services (“Coating Services”) and analytical services within the Advanced Materials and Chemicals segment.[2]Growth consists of Coating Services and Advanced Materials and Functional Printing within the Advanced Materials and Chemicals segment.[3]Other consists of Intellectual Property Licensing ("IP Licensing"), Brand Licensing and Eastman Business Park.[4]Sales are reported in the geographic area in which they originate. No non-U.S. country generated more than 10% of net sales in the years ended December 31, 2023, 2022 and 2021. |
Note 14 - Revenue - Schedule of
Note 14 - Revenue - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Contract liabilities - current | $ 37 | $ 40 |
Total | 100 | 51 |
Other Current Assets [Member] | ||
Contract assets | 1 | 1 |
Other Current Liabilities [Member] | ||
Contract liabilities - current | 37 | 40 |
Other Noncurrent Liabilities [Member] | ||
Contract liabilities - long-term | $ 63 | $ 11 |
Note 14 - Revenue - Schedule De
Note 14 - Revenue - Schedule Deferred Revenue Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning liabilities recognized in revenue | $ 33 | $ 38 | $ 37 |
Cash payments received, net of revenue recognized | $ 39 | $ 30 | $ 28 |
Note 15 - Other Operating Inc_3
Note 15 - Other Operating Income, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Trade Names [Member] | ||||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | $ 1 | $ 1 | ||
Other Operating Income (Expense) [Member] | ||||
Tangible Asset Impairment Charges | $ 4 | |||
Other Operating Income (Expense) [Member] | Trade Names [Member] | ||||
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) | $ 1 | $ 1 |
Note 15 - Other Operating Inc_4
Note 15 - Other Operating Income, Net - Summary of Other Operating Income, by Component (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Asset impairments | [1],[2] | $ 5 | $ 1 | $ 0 |
Legal settlements | 0 | (1) | (7) | |
Loss related to the sales of assets | 0 | 0 | 1 | |
Other | 1 | (1) | 0 | |
Total | $ 6 | $ (1) | $ (6) | |
[1]In the fourth quarter of 2022, Kodak recorded an impairment charge of $1 million related to the Kodak trade name. Refer to Note 5, "Goodwill and Other Intangible Assets".[2]In the fourth quarter of 2023, Kodak recorded an impairment charge of $4 million related to the Electrophotographic Printing Solutions (“EPS”) business due to the continued impacts of the decision to cease manufacturing of the EPS equipment products. The fair value of EPS was estimated using a discounted cash flow method (Level 3) |
Note 16 - Other Charges (Inco_3
Note 16 - Other Charges (Income), Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Investment Income, Interest | [1] | $ 15 | $ 1 | $ 1 | |
Foreign Tax Authority [Member] | |||||
Investment Income, Interest | $ 9 | ||||
[1]Includes $9 million of interest income associated with a refund received in the first quarter of 2023 from a governmental authority in a location outside the U.S. that was previously held in order to guarantee potential tax disputes in that jurisdiction. |
Note 16 - Other Charges (Inco_4
Note 16 - Other Charges (Income), Net - Schedule of Other (Income) Charges - Schedule of Other Charges, Net (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Interest income (1) | [1] | $ (15) | $ (1) | $ (1) |
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives | [2],[3] | 2 | (3) | (7) |
Loss on foreign exchange transactions | 9 | 4 | 2 | |
Other | 3 | 1 | 1 | |
Total | $ (1) | $ 1 | $ (5) | |
[1]Includes $9 million of interest income associated with a refund received in the first quarter of 2023 from a governmental authority in a location outside the U.S. that was previously held in order to guarantee potential tax disputes in that jurisdiction.[2]Refer to Note 13, “Financial Instruments”.[3]Refer to Note 14, “Financial Instruments”. |
Note 17 - Income Taxes (Details
Note 17 - Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | 24 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | |
Operating Loss Carryforwards | $ 2,181 | $ 2,181 | |
Operating Loss Carryforwards, Not Subject to Expiration | 1,007 | 1,007 | |
Operating Loss Carryforwards, Not Subject to Expiration, Interest Carryforward | 150 | 150 | |
Operating Loss Carryforwards, Subject to Expiration | $ 1,174 | $ 1,174 | |
Net Operating Losses and Tax Credit Carryforwards, Limitations Minimum Ownership Change Percentage | 50% | 50% | |
Net Operating Losses and Tax Credit Carryforwards, Limitations, Ownership Change Period (Year) | 3 years | ||
Deferred Tax Liabilities, Undistributed Foreign Earnings | $ 16 | $ 17 | $ 16 |
Deferred Tax Assets, Valuation Allowance | 778 | 826 | 778 |
Deferred Tax Assets, Net of Valuation Allowance | 248 | 256 | 248 |
Income Tax Examination, Penalties and Interest Accrued | 10 | 10 | 10 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 13 | 13 | 13 |
Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards, Subject to Expiration | 147 | 147 | |
Operating Loss Carryforwards, Expired | 77 | 77 | |
Deferred Tax Assets, Valuation Allowance | 290 | 285 | 290 |
Deferred Tax Assets, Net of Valuation Allowance | $ 279 | $ 275 | 279 |
Income Tax Examination, Year under Examination | 2013 2014 2015 2016 2017 | 2015 2016 2017 2018 | |
Income Tax Examination, Penalties and Interest Expense | $ 1 | $ 2 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (3) | ||
Open Tax Year | 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 | ||
Domestic Tax Authority [Member] | |||
Deferred Tax Assets, Valuation Allowance | $ 488 | 541 | 488 |
Deferred Tax Assets, Net of Valuation Allowance | $ 472 | $ 524 | 472 |
Open Tax Year | 2019 2020 2021 2022 2023 | ||
State and Local Jurisdiction [Member] | |||
Open Tax Year | 2016 2017 2018 2019 2020 2021 2022 2023 | ||
General Business Tax Credit Carryforward [Member] | |||
Tax Credit Carryforward, Amount | $ 281 | 281 | |
Investment Tax Credit Carryforward [Member] | |||
Tax Credit Carryforward, Amount | $ 25 | $ 25 |
Note 17 - Income Taxes - Schedu
Note 17 - Income Taxes - Schedule of Earnings (Loss) before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
U.S. | $ 36 | $ (2) | $ (12) |
Outside the U.S. | 51 | 33 | 40 |
Total | 87 | 31 | 28 |
Deferred benefit | (1) | (3) | (1) |
Current provision | 12 | 7 | 4 |
Deferred provision | 1 | 1 | 1 |
Provision for income taxes | $ 12 | $ 5 | $ 4 |
Note 17 - Income Taxes - Sche_2
Note 17 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Amount computed using the statutory rate | $ 18 | $ 7 | $ 6 |
Unremitted foreign earnings | 1 | (2) | (1) |
Operations outside the U.S. | 13 | 4 | 8 |
Legislative tax law and rate changes | 0 | 0 | (28) |
Valuation allowance | (19) | (9) | 20 |
Tax settlements and adjustments, including interest | 0 | 4 | (1) |
Other, net | (1) | 1 | 0 |
Provision for income taxes | $ 12 | $ 5 | $ 4 |
Note 17 - Income Taxes - Deferr
Note 17 - Income Taxes - Deferred Tax Assets and Liabilities Significant Components (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred tax assets | ||
Restructuring programs | $ 1 | $ 2 |
Leasing | 2 | 3 |
Foreign tax credit | 281 | 358 |
Inventories | 11 | 14 |
Investment tax credit | 25 | 26 |
Employee deferred compensation | 23 | 22 |
Depreciation | 31 | 33 |
Research and development costs | 42 | 42 |
Tax loss carryforwards | 529 | 506 |
Other deferred revenue | 2 | 2 |
Other | 79 | 74 |
Total deferred tax assets before valuation allowances | 1,026 | 1,082 |
Valuation allowances | (778) | (826) |
Total net deferred tax assets | 248 | 256 |
Deferred tax liabilities | ||
Pension and postretirement obligations | (251) | (258) |
Goodwill/intangibles | (8) | (8) |
Unremitted foreign earnings | (16) | (17) |
Total deferred tax liabilities | (275) | (283) |
Net deferred tax liabilities | (27) | (27) |
Other long-term liabilities | $ (27) | $ (27) |
Note 17 - Income Taxes - Sche_3
Note 17 - Income Taxes - Schedule of Unrecognized Tax Benefits, Roll Forward (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Balance | $ 3 | $ 4 | $ 8 |
Additions, current year | 0 | 0 | 0 |
Additions, prior year | 1 | 1 | 0 |
Reductions | (1) | (2) | (1) |
Settlements with taxing jurisdictions | (1) | 0 | (3) |
Balance | $ 2 | $ 3 | $ 4 |
Note 18 - Restructuring Costs_3
Note 18 - Restructuring Costs and Other (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Severance Costs | $ 2 | $ 2 | |
Restructuring Costs, Total | $ 10 | $ 13 | $ 6 |
Restructuring and Related Cost, Number of Positions Eliminated | 130 | 115 | 130 |
Restructuring and Related Cost, Expected Cost, Total | $ 1 | ||
United States And Canada [Member] | |||
Restructuring and Related Cost, Number of Positions Eliminated | 20 | 65 | 70 |
World Excluding U S And Canada [Member] | |||
Restructuring and Related Cost, Number of Positions Eliminated | 110 | 50 | 60 |
Administrative Positions [Member] | |||
Restructuring and Related Cost, Number of Positions Eliminated | 50 | 50 | 70 |
Manufacturing Service Positions [Member] | |||
Restructuring and Related Cost, Number of Positions Eliminated | 80 | 40 | 60 |
Research And Development Positions [Member] | |||
Restructuring and Related Cost, Number of Positions Eliminated | 25 | ||
Restructuring Charges [Member] | |||
Restructuring Costs, Total | $ 7 | $ 10 | $ 6 |
Cost of Sales [Member] | |||
Restructuring Costs, Total | $ 3 | $ 3 |
Note 18 - Restructuring Costs_4
Note 18 - Restructuring Costs and Other - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Balance | $ 7 | $ 5 | $ 11 | |
Charges | 10 | 13 | 6 | |
Utilization/cash payments | (12) | (9) | (10) | |
Other adjustments & reclasses (2) | [1] | (2) | (2) | |
Balance | 5 | 7 | 5 | |
Employee Severance [Member] | ||||
Balance | [2] | 2 | 4 | 10 |
Charges | [2] | 8 | 6 | 6 |
Utilization/cash payments | [2] | (6) | (6) | (10) |
Other adjustments & reclasses (2) | [1],[2] | (2) | (2) | |
Balance | [2] | 4 | 2 | 4 |
Facility Closing [Member] | ||||
Balance | [2] | 5 | 1 | 1 |
Charges | [2] | (1) | 4 | 0 |
Utilization/cash payments | [2] | (3) | 0 | 0 |
Other adjustments & reclasses (2) | [1],[2] | 0 | 0 | |
Balance | [2] | 1 | 5 | 1 |
Inventory Write-down [Member] | ||||
Balance | [2] | 0 | 0 | 0 |
Charges | [2] | 3 | 3 | 0 |
Utilization/cash payments | [2] | (3) | (3) | 0 |
Other adjustments & reclasses (2) | [1],[2] | 0 | 0 | |
Balance | [2] | $ 0 | $ 0 | $ 0 |
[1]The $2 million in 2022 and 2021 and the $3 million in 2020 represented severance charges funded from pension plan assets, which were reclassified to Pension and other postretirement liabilities.[2]The severance and exit costs reserves require the outlay of cash. Inventory write-downs are non-cash items. |
Note 19 - Retirement Plans (Det
Note 19 - Retirement Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | May 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 | |
Cash and Cash Equivalents, at Carrying Value | $ 255,000 | $ 217,000 | |||
UNITED STATES | |||||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate | 4% | 4% | 2% | ||
Derivative, Notional Amount | $ 384,000 | $ 389,000 | |||
Derivative Instruments in Hedges, at Fair Value, Net | 1,000 | 0 | |||
Cash and Cash Equivalents, at Carrying Value | $ 9,000 | $ 9,000 | |||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Redemption Restriction, Percentage | 1% | 1% | |||
UNITED STATES | Defined Benefit Plan, Cash and Cash Equivalents [Member] | Hedge Funds [Member] | |||||
Cash Liquidity Reserves | $ 77,000 | $ 90,000 | |||
Kodak Retirement Income Plan [Member] | Minimum [Member] | |||||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate | 9% | 12% | |||
Kodak Retirement Income Plan [Member] | Maximum [Member] | |||||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate | 10% | 13% | |||
Pension Plan [Member] | UNITED STATES | |||||
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | (28,000) | 479,000 | |||
Defined Benefit Plan, Gain (Loss), Increase (Decrease) in Discount Rate | (40,000) | 582,000 | |||
Defined Benefit Plan, Gain (Loss), Increase (Decrease) in Mortality Assumptions | 12,000 | (105,000) | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Increase (Decrease) for Plan Amendment | 29,000 | 28,000 | |||
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 170,000 | (152,000) | |||
Gain (Loss) on Derivative Instruments, Net, Pretax | (1,000) | (128,000) | |||
Defined Benefit Plan, Benefit Obligation, PBO Actuarial Loss | 28,000 | ||||
Defined Benefit Plan, Asset Actuarial Loss | 87,000 | 330,000 | |||
Defined Benefit Plan, Benefit Obligation, PBO Actuarial Gain | 479,000 | ||||
Pension Plan [Member] | Foreign Plan [Member] | |||||
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | (12,000) | 165,000 | |||
Defined Benefit Plan, Gain (Loss), Increase (Decrease) in Discount Rate | (20,000) | ||||
Defined Benefit Plan, Gain (Loss) Due to Demographic Experience | (1,000) | ||||
Defined Benefit Plan, Gain (Loss), Inflation Assumption | 9,000 | ||||
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 25,000 | (31,000) | |||
Defined Benefit Plan, Benefit Obligation, PBO Actuarial Loss | 12,000 | ||||
Defined Benefit Plan, Asset Actuarial Loss | $ 5,000 | 45,000 | |||
Defined Benefit Plan, Benefit Obligation, PBO Actuarial Gain | $ 165,000 |
Note 19 - Retirement Plans - Co
Note 19 - Retirement Plans - Components of the Pension Obligation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Service cost | $ 0 | $ 0 | $ 0 |
Interest cost | 2 | 1 | 1 |
UNITED STATES | |||
Over (under) funded status at end of period | 1,160 | 1,177 | |
UNITED STATES | Pension Plan [Member] | |||
Net benefit obligation at beginning of period | 2,482 | 3,132 | |
Service cost | 13 | 13 | 11 |
Interest cost | 117 | 80 | 47 |
Benefit payments | (283) | (294) | |
Plan Amendments | 29 | 28 | |
Actuarial gain | 28 | (479) | |
Special termination benefits | 0 | 2 | |
Currency adjustments | 0 | 0 | |
Net benefit obligation at end of period | 2,386 | 2,482 | 3,132 |
Fair value of plan assets at beginning of period | 3,659 | 4,105 | |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 170 | (152) | |
Employer contributions | 0 | 0 | |
Benefit payments | (283) | (294) | |
Currency adjustments | 0 | 0 | |
Fair value of plan assets at end of period | 3,546 | 3,659 | 4,105 |
Over (under) funded status at end of period | 1,160 | 1,177 | |
Accumulated benefit obligation at end of period | 2,384 | 2,482 | |
Foreign Plan [Member] | |||
Over (under) funded status at end of period | (60) | (51) | |
Foreign Plan [Member] | Pension Plan [Member] | |||
Net benefit obligation at beginning of period | 577 | 816 | |
Service cost | 2 | 3 | 3 |
Interest cost | 20 | 9 | 5 |
Benefit payments | (43) | (44) | |
Plan Amendments | 0 | 0 | |
Actuarial gain | 12 | (165) | |
Special termination benefits | 0 | 0 | |
Currency adjustments | 20 | (42) | |
Net benefit obligation at end of period | 588 | 577 | 816 |
Fair value of plan assets at beginning of period | 526 | 626 | |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 25 | (31) | |
Employer contributions | 6 | 5 | |
Benefit payments | (43) | (44) | |
Currency adjustments | 14 | (30) | |
Fair value of plan assets at end of period | 528 | 526 | $ 626 |
Over (under) funded status at end of period | (60) | (51) | |
Accumulated benefit obligation at end of period | $ 579 | $ 568 |
Note 19 - Retirement Plans - We
Note 19 - Retirement Plans - Weighted-average Assumptions Used to Determine Benefit Obligation Amounts (Details) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
UNITED STATES | |||
Discount rate | 4.92% | 5.13% | 2.54% |
Salary increase rate | 1.50% | 1% | 1% |
Interest crediting rate for cash balance plan | 4% | 4% | 2% |
Foreign Plan [Member] | |||
Discount rate | 3.47% | 3.93% | 1.48% |
Salary increase rate | 2.06% | 2.71% | 2.39% |
Note 19 - Retirement Plans - Am
Note 19 - Retirement Plans - Amounts Recognized in Consolidated Statement of Financial Position (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Pension and other postretirement assets | $ 1,216 | $ 1,233 |
Pension and other postretirement liabilities | (237) | (230) |
UNITED STATES | ||
Pension and other postretirement assets | 1,160 | 1,177 |
Pension and other postretirement liabilities | 0 | 0 |
Net amount recognized | 1,160 | 1,177 |
Foreign Plan [Member] | ||
Pension and other postretirement assets | 42 | 42 |
Pension and other postretirement liabilities | (102) | (93) |
Net amount recognized | $ (60) | $ (51) |
Note 19 - Retirement Plans - Pr
Note 19 - Retirement Plans - Projected Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
UNITED STATES | ||
Projected benefit obligation | $ 0 | $ 0 |
Fair value of plan assets | 0 | 0 |
Foreign Plan [Member] | ||
Projected benefit obligation | 406 | 209 |
Fair value of plan assets | $ 304 | $ 116 |
Note 19 - Retirement Plans - Ma
Note 19 - Retirement Plans - Major Funded and Unfunded Defined Benefit Plans With Accumulated Benefit Obligation (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
UNITED STATES | ||
Accumulated benefit obligation | $ 0 | $ 0 |
Fair value of plan assets | 0 | 0 |
Foreign Plan [Member] | ||
Accumulated benefit obligation | 397 | 201 |
Fair value of plan assets | $ 304 | $ 116 |
Note 19 - Retirement Plans - _2
Note 19 - Retirement Plans - Amounts Recognized in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
UNITED STATES | ||
Prior service (cost) credit | $ (45) | $ (25) |
Net actuarial gain (loss) | 449 | 594 |
Total | 404 | 569 |
Foreign Plan [Member] | ||
Prior service (cost) credit | 2 | 2 |
Net actuarial gain (loss) | (52) | (43) |
Total | $ (50) | $ (41) |
Note 19 - Retirement Plans - Ch
Note 19 - Retirement Plans - Changes in Major Plan Assets and Benefit Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Newly established (loss) gain | $ (122) | $ 277 | $ 632 | |
Newly established prior service cost | (29) | (28) | 0 | |
Prior service cost (credit) | [1] | 9 | (4) | (7) |
Net actuarial (gain) loss | [1] | (31) | 8 | 37 |
UNITED STATES | ||||
Newly established (loss) gain | (115) | 149 | 635 | |
Newly established prior service cost | (29) | (28) | 0 | |
Prior service cost (credit) | 9 | (3) | (7) | |
Net actuarial (gain) loss | (30) | 0 | 30 | |
Total (loss) income recognized in Other comprehensive (loss) income | (165) | 118 | 658 | |
Foreign Plan [Member] | ||||
Newly established (loss) gain | (7) | 120 | (4) | |
Newly established prior service cost | 0 | 0 | 0 | |
Prior service cost (credit) | 0 | 0 | 0 | |
Net actuarial (gain) loss | 1 | 10 | 9 | |
Total (loss) income recognized in Other comprehensive (loss) income | $ (6) | $ 130 | $ 5 | |
[1]Reclassified to Pension income - refer to Note 20, "Retirement Plans" and Note 21, "Other Postretirement Benefits" for additional information. |
Note 19 - Retirement Plans - Pe
Note 19 - Retirement Plans - Pension Income From Continuing Operations For All Defined Benefit Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Service cost | $ 0 | $ 0 | $ 0 |
Interest cost | 2 | 1 | 1 |
Net pension (income) expense | 1 | 1 | 1 |
UNITED STATES | Pension Plan [Member] | |||
Service cost | 13 | 13 | 11 |
Interest cost | 117 | 80 | 47 |
Expected return on plan assets | (257) | (178) | (167) |
Prior service cost (credit) | 9 | (3) | (7) |
Actuarial (gain) loss | (30) | 0 | 30 |
Pension (income) expense before special termination benefits | (148) | (88) | (86) |
Special termination benefits | 0 | 2 | 2 |
Net pension (income) expense for major defined benefit plans | (148) | (86) | (84) |
Other plans including unfunded plans | 0 | 0 | 0 |
Net pension (income) expense | (148) | (86) | (84) |
Foreign Plan [Member] | Pension Plan [Member] | |||
Service cost | 2 | 3 | 3 |
Interest cost | 20 | 9 | 5 |
Expected return on plan assets | (20) | (14) | (15) |
Prior service cost (credit) | 0 | 0 | 0 |
Actuarial (gain) loss | 1 | 10 | 9 |
Pension (income) expense before special termination benefits | 3 | 8 | 2 |
Special termination benefits | 0 | 0 | 0 |
Net pension (income) expense for major defined benefit plans | 3 | 8 | 2 |
Other plans including unfunded plans | 1 | 0 | (2) |
Net pension (income) expense | $ 4 | $ 8 | $ 0 |
Note 19 - Retirement Plans - _3
Note 19 - Retirement Plans - Weighted-average Assumptions Used to Determine Net Pension (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Effective rate for interest cost | 5.13% | 2.53% | 1.81% |
Salary increase rate | 2.10% | 1.85% | 1.70% |
Pension Plan [Member] | UNITED STATES | |||
Effective rate for service cost | 5.04% | 3.45% | 2.11% |
Effective rate for interest cost | 5.02% | 2.97% | 1.42% |
Salary increase rate | 1% | 1% | 3.50% |
Expected long-term rate of return on plan assets | 7.50% | 5.30% | 5.20% |
Interest crediting rate for cash balance plan | 3.85% | 2.58% | 1.75% |
Pension Plan [Member] | Foreign Plan [Member] | |||
Effective rate for service cost | 3.44% | 1.60% | 1.17% |
Effective rate for interest cost | 3.80% | 1.20% | 0.70% |
Salary increase rate | 2.71% | 2.39% | 1.56% |
Expected long-term rate of return on plan assets | 4.16% | 2.67% | 2.56% |
Note 19 - Retirement Plans - _4
Note 19 - Retirement Plans - Weighted-average Asset Allocation By Assets Category (Details) | Dec. 31, 2023 | Dec. 31, 2022 | |
Major US Plans [Member] | |||
Asset allocations | 100% | 100% | |
Major US Plans [Member] | Debt Securities [Member] | |||
Asset allocations | 20% | 20% | |
Major US Plans [Member] | Debt Securities [Member] | Minimum [Member] | |||
Target asset allocations | 18% | ||
Major US Plans [Member] | Debt Securities [Member] | Maximum [Member] | |||
Target asset allocations | 24% | ||
Major US Plans [Member] | Real Estate [Member] | |||
Asset allocations | 0% | 1% | |
Target asset allocations | 0% | ||
Major US Plans [Member] | Cash and Cash Equivalents [Member] | |||
Asset allocations | 5% | 7% | |
Major US Plans [Member] | Cash and Cash Equivalents [Member] | Minimum [Member] | |||
Target asset allocations | 0% | ||
Major US Plans [Member] | Cash and Cash Equivalents [Member] | Maximum [Member] | |||
Target asset allocations | 10% | ||
Major US Plans [Member] | Private Equity Funds [Member] | |||
Asset allocations | 31% | 30% | |
Major US Plans [Member] | Private Equity Funds [Member] | Minimum [Member] | |||
Target asset allocations | 23% | ||
Major US Plans [Member] | Private Equity Funds [Member] | Maximum [Member] | |||
Target asset allocations | 28% | ||
Major US Plans [Member] | Hedge Funds [Member] | |||
Asset allocations | [1] | 44% | 42% |
Major US Plans [Member] | Hedge Funds [Member] | Minimum [Member] | |||
Target asset allocations | [1] | 46% | |
Major US Plans [Member] | Hedge Funds [Member] | Maximum [Member] | |||
Target asset allocations | [1] | 58% | |
Major Non-US Plans [Member] | |||
Asset allocations | 100% | 100% | |
Major Non-US Plans [Member] | Debt Securities [Member] | |||
Asset allocations | 16% | 16% | |
Major Non-US Plans [Member] | Debt Securities [Member] | Minimum [Member] | |||
Target asset allocations | 10% | ||
Major Non-US Plans [Member] | Debt Securities [Member] | Maximum [Member] | |||
Target asset allocations | 20% | ||
Major Non-US Plans [Member] | Equity Securities [Member] | |||
Asset allocations | 6% | 6% | |
Major Non-US Plans [Member] | Equity Securities [Member] | Minimum [Member] | |||
Target asset allocations | 0% | ||
Major Non-US Plans [Member] | Equity Securities [Member] | Maximum [Member] | |||
Target asset allocations | 10% | ||
Major Non-US Plans [Member] | Real Estate [Member] | |||
Asset allocations | 2% | 2% | |
Major Non-US Plans [Member] | Real Estate [Member] | Minimum [Member] | |||
Target asset allocations | 0% | ||
Major Non-US Plans [Member] | Real Estate [Member] | Maximum [Member] | |||
Target asset allocations | 5% | ||
Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | |||
Asset allocations | 2% | 4% | |
Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | Minimum [Member] | |||
Target asset allocations | 0% | ||
Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | Maximum [Member] | |||
Target asset allocations | 5% | ||
Major Non-US Plans [Member] | Private Equity Funds [Member] | |||
Asset allocations | 8% | 8% | |
Major Non-US Plans [Member] | Private Equity Funds [Member] | Minimum [Member] | |||
Target asset allocations | 0% | ||
Major Non-US Plans [Member] | Private Equity Funds [Member] | Maximum [Member] | |||
Target asset allocations | 10% | ||
Major Non-US Plans [Member] | Hedge Funds [Member] | |||
Asset allocations | 6% | 4% | |
Major Non-US Plans [Member] | Hedge Funds [Member] | Minimum [Member] | |||
Target asset allocations | 0% | ||
Major Non-US Plans [Member] | Hedge Funds [Member] | Maximum [Member] | |||
Target asset allocations | 10% | ||
Major Non-US Plans [Member] | Insurance Contracts [Member] | |||
Asset allocations | 60% | 60% | |
Major Non-US Plans [Member] | Insurance Contracts [Member] | Minimum [Member] | |||
Target asset allocations | 25% | ||
Major Non-US Plans [Member] | Insurance Contracts [Member] | Maximum [Member] | |||
Target asset allocations | 75% | ||
[1]The 2023 target for hedge funds includes a policy allocation to U.S. government bonds that is obtained via treasury futures contracts. |
Note 19 - Retirement Plans - Fa
Note 19 - Retirement Plans - Fair Value Measurement of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Major US Plans [Member] | |||||
Fair Value of Plan Assets | $ 3,546 | $ 3,659 | |||
Major US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 164 | 251 | [1] | ||
Major US Plans [Member] | Government Bonds [Member] | |||||
Fair Value of Plan Assets | 32 | 39 | [2] | ||
Major US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 682 | 717 | [2] | ||
Major US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 18 | 29 | |||
Major US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 1,552 | 1,528 | |||
Major US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 1,097 | 1,095 | |||
Major US Plans [Member] | Derivatives With Unrealized Gains [Member] | |||||
Fair Value of Plan Assets | 1 | ||||
Major Non-US Plans [Member] | |||||
Fair Value of Plan Assets | 527 | 526 | |||
Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 13 | 21 | |||
Major Non-US Plans [Member] | Equity Securities [Member] | |||||
Fair Value of Plan Assets | 33 | 31 | |||
Major Non-US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 80 | 80 | |||
Major Non-US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 11 | 11 | |||
Major Non-US Plans [Member] | Global High Yield & Emerging Market Debt [Member] | |||||
Fair Value of Plan Assets | 2 | 2 | |||
Major Non-US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 29 | 20 | |||
Major Non-US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 42 | 43 | |||
Major Non-US Plans [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 317 | 318 | |||
Derivatives With Unrealized Gains [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 1 | ||||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | |||||
Fair Value of Plan Assets | 165 | 251 | |||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 164 | 251 | [1] | ||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | Government Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [2] | ||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [2] | ||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Major US Plans [Member] | Derivatives With Unrealized Gains [Member] | |||||
Fair Value of Plan Assets | 1 | ||||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | |||||
Fair Value of Plan Assets | 83 | 89 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 13 | 21 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Equity Securities [Member] | |||||
Fair Value of Plan Assets | 33 | 31 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 35 | 35 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Global High Yield & Emerging Market Debt [Member] | |||||
Fair Value of Plan Assets | 2 | 2 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Major Non-US Plans [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Derivatives With Unrealized Gains [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 1 | ||||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | |||||
Fair Value of Plan Assets | 714 | 756 | |||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [1] | ||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | Government Bonds [Member] | |||||
Fair Value of Plan Assets | 32 | 39 | [2] | ||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 682 | 717 | [2] | ||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major US Plans [Member] | Derivatives With Unrealized Gains [Member] | |||||
Fair Value of Plan Assets | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | |||||
Fair Value of Plan Assets | 75 | 74 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Equity Securities [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 45 | 45 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Global High Yield & Emerging Market Debt [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Major Non-US Plans [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 30 | 29 | |||
Fair Value, Inputs, Level 2 [Member] | Derivatives With Unrealized Gains [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | |||||
Fair Value of Plan Assets | 3 | 3 | $ 0 | $ 5 | |
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [1] | ||
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | Government Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [2] | ||
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [2] | ||
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 3 | 3 | 0 | 5 | |
Fair Value, Inputs, Level 3 [Member] | Major US Plans [Member] | Derivatives With Unrealized Gains [Member] | |||||
Fair Value of Plan Assets | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | |||||
Fair Value of Plan Assets | 287 | 289 | 342 | 291 | |
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Equity Securities [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Global High Yield & Emerging Market Debt [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Major Non-US Plans [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 287 | 289 | $ 342 | $ 291 | |
Fair Value, Inputs, Level 3 [Member] | Derivatives With Unrealized Gains [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 0 | ||||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | |||||
Fair Value of Plan Assets | 2,664 | 2,649 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [1] | ||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | Government Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [2] | ||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | [2] | ||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 18 | 29 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 1,552 | 1,528 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 1,094 | 1,092 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major US Plans [Member] | Derivatives With Unrealized Gains [Member] | |||||
Fair Value of Plan Assets | 0 | ||||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | |||||
Fair Value of Plan Assets | 82 | 74 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Cash and Cash Equivalents [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Equity Securities [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Investment Grade Bonds [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Real Estate [Member] | |||||
Fair Value of Plan Assets | 11 | 11 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Global High Yield & Emerging Market Debt [Member] | |||||
Fair Value of Plan Assets | 0 | 0 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Hedge Funds [Member] | |||||
Fair Value of Plan Assets | 29 | 20 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Private Equity Funds [Member] | |||||
Fair Value of Plan Assets | 42 | 43 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Major Non-US Plans [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | 0 | $ 0 | |||
Fair Value Measured at Net Asset Value Per Share [Member] | Derivatives With Unrealized Gains [Member] | Insurance Contracts [Member] | |||||
Fair Value of Plan Assets | $ 0 | ||||
[1]Cash and cash equivalents are primarily held in short term investment funds and are used for benefit and fee payments, as well as for margin and liquidity requirements associated with the U.S. Plan’s derivative instrument contracts.[2]Debt securities are traded on an active market and are valued using a market approach based on the closing price on the last business day of the year. |
Note 19 - Retirement Plans - Su
Note 19 - Retirement Plans - Summary of Total Fair Value, Unfunded Commitments and Redemption Provisions for U.S. Defined Benefit Pension (Details) - UNITED STATES - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Fair Value | $ 2,664 | $ 2,649 |
Unfunded Commitments | 172 | 255 |
Real Estate [Member] | ||
Fair Value | 18 | 29 |
Unfunded Commitments | 0 | 0 |
Private Equity Funds [Member] | ||
Fair Value | 1,094 | 1,092 |
Unfunded Commitments | 172 | 229 |
Hedge Funds [Member] | ||
Fair Value | 1,552 | 1,528 |
Unfunded Commitments | $ 0 | $ 26 |
Hedge Funds [Member] | Minimum [Member] | ||
Redemption Notice Period (Day) | 5 days | 5 days |
Hedge Funds [Member] | Maximum [Member] | ||
Redemption Notice Period (Day) | 365 days | 365 days |
Note 19 - Retirement Plans - _5
Note 19 - Retirement Plans - Summary of U.S. Defined Benefit Pension Plan Investments in Hedge Funds by Type for Those Investments Values at NAV (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
UNITED STATES | ||
Net Asset Value | $ 2,664 | $ 2,649 |
Multi-Strategy Hedge Funds [Member] | Minimum [Member] | ||
Redemption Frequency | 45 days | 45 days |
Multi-Strategy Hedge Funds [Member] | Maximum [Member] | ||
Redemption Frequency | 90 days | 90 days |
Multi-Strategy Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 509 | $ 495 |
Relative Value Hedge Funds [Member] | Minimum [Member] | ||
Redemption Frequency | 6 days | 6 days |
Relative Value Hedge Funds [Member] | Maximum [Member] | ||
Redemption Frequency | 120 days | 120 days |
Relative Value Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 342 | $ 331 |
Directional Hedge Funds [Member] | ||
Redemption Frequency | 5 days | 5 days |
Directional Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 143 | $ 167 |
Equity Long/Short Hedge Funds [Member] | Minimum [Member] | ||
Redemption Frequency | 45 days | Quarterly |
Equity Long/Short Hedge Funds [Member] | Maximum [Member] | ||
Redemption Frequency | 90 days | 90 days |
Equity Long/Short Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 264 | $ 227 |
Sector Specialist Hedge Funds [Member] | Minimum [Member] | ||
Redemption Frequency | 60 days | 60 days |
Sector Specialist Hedge Funds [Member] | Maximum [Member] | ||
Redemption Frequency | 90 days | 90 days |
Sector Specialist Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 120 | $ 135 |
Long-Biased Hedge Funds [Member] | Minimum [Member] | ||
Redemption Frequency | 60 days | 60 days |
Long-Biased Hedge Funds [Member] | Maximum [Member] | ||
Redemption Frequency | 90 days | 90 days |
Long-Biased Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 160 | $ 159 |
Event Driven Hedge Funds [Member] | ||
Redemption Frequency | 90 days | 90 days |
Event Driven Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 14 | $ 14 |
Hedge Funds [Member] | UNITED STATES | ||
Net Asset Value | $ 1,552 | $ 1,528 |
Note 19 - Retirement Plans - Re
Note 19 - Retirement Plans - Reconciliation of Beginning and Ending Balances of Assets Measured With Significant Unobservable Inputs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Major US Plans [Member] | |||
Fair value of plan assets at beginning of period | $ 3,659 | ||
Fair value of plan assets at end of period | 3,546 | $ 3,659 | |
Major US Plans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets at beginning of period | 3 | 0 | $ 5 |
Net Realized and Unrealized Gains Relating to Assets Still Held | 0 | 0 | (5) |
Net Purchases, Sales and Settlements | 0 | 3 | 0 |
Fair value of plan assets at end of period | 3 | 3 | 0 |
Major US Plans [Member] | Private Equity Funds [Member] | |||
Fair value of plan assets at beginning of period | 1,095 | ||
Fair value of plan assets at end of period | 1,097 | 1,095 | |
Major US Plans [Member] | Private Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets at beginning of period | 3 | 0 | 5 |
Net Realized and Unrealized Gains Relating to Assets Still Held | 0 | 0 | (5) |
Net Purchases, Sales and Settlements | 0 | 3 | 0 |
Fair value of plan assets at end of period | 3 | 3 | 0 |
Major Non-US Plans [Member] | |||
Fair value of plan assets at beginning of period | 526 | ||
Fair value of plan assets at end of period | 527 | 526 | |
Major Non-US Plans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets at beginning of period | 289 | 342 | 291 |
Net Realized and Unrealized Gains Relating to Assets Still Held | (2) | (53) | (37) |
Net Purchases, Sales and Settlements | 0 | 0 | 88 |
Fair value of plan assets at end of period | 287 | 289 | 342 |
Major Non-US Plans [Member] | Private Equity Funds [Member] | |||
Fair value of plan assets at beginning of period | 43 | ||
Fair value of plan assets at end of period | 42 | 43 | |
Major Non-US Plans [Member] | Private Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets at beginning of period | 0 | ||
Fair value of plan assets at end of period | 0 | 0 | |
Major Non-US Plans [Member] | Insurance Contracts [Member] | |||
Fair value of plan assets at beginning of period | 318 | ||
Fair value of plan assets at end of period | 317 | 318 | |
Major Non-US Plans [Member] | Insurance Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets at beginning of period | 289 | 342 | 291 |
Net Realized and Unrealized Gains Relating to Assets Still Held | (2) | (53) | (37) |
Net Purchases, Sales and Settlements | 0 | 0 | 88 |
Fair value of plan assets at end of period | $ 287 | $ 289 | $ 342 |
Note 19 - Retirement Plans - _6
Note 19 - Retirement Plans - Pension Benefit Payments Which Reflects Future Services Expected to Be Paid From the Plans (Details) $ in Millions | Dec. 31, 2023 USD ($) |
Major US Plans [Member] | |
2024 | $ 263 |
2025 | 254 |
2026 | 242 |
2027 | 230 |
2028 | 219 |
2029 - 2033 | 935 |
Major Non-US Plans [Member] | |
2024 | 45 |
2025 | 43 |
2026 | 42 |
2027 | 41 |
2028 | 40 |
2029 - 2033 | $ 184 |
Note 20 - Other Postretiremen_3
Note 20 - Other Postretirement Benefits - Schedule Of Changes In Projected Benefit Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest cost | $ 2 | $ 1 | $ 1 |
Other Postretirement Benefits Plan [Member] | |||
Net benefit obligation at beginning of period | 43 | 52 | |
Interest cost | 2 | 1 | |
Actuarial gain | 0 | (7) | |
Benefit payments | (2) | (3) | |
Net benefit obligation at end of period | 43 | 43 | $ 52 |
Underfunded status at end of period | $ (43) | $ (43) |
Note 20 - Other Postretiremen_4
Note 20 - Other Postretirement Benefits - Schedule Of Amounts From Other Post Retirement Plan Recognized In Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Pension and other postretirement liabilities | $ (237) | $ (230) |
Other Postretirement Benefits Plan [Member] | ||
Other current liabilities | (3) | (3) |
Pension and other postretirement liabilities | (40) | (40) |
Liability, Defined Benefit Plan | $ (43) | $ (43) |
Note 20 - Other Postretiremen_5
Note 20 - Other Postretirement Benefits - Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income Loss (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Other Postretirement Benefits Plan [Member] | ||
Net actuarial gain | $ 10 | $ 11 |
Note 20 - Other Postretiremen_6
Note 20 - Other Postretirement Benefits - Schedule Of Other Post Retirement Plan Recognized In Other Comprehensive Income Loss (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Total gain recognized in Other comprehensive loss (income) | $ 0 | $ 7 |
Other Postretirement Benefits Plan [Member] | ||
Total gain recognized in Other comprehensive loss (income) | $ 0 | $ 7 |
Note 20 - Other Postretiremen_7
Note 20 - Other Postretirement Benefits - Schedule Of Other Post Retirement Plan Net Benefit Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Service cost | $ 0 | $ 0 | $ 0 |
Interest cost | 2 | 1 | 1 |
Actuarial gain | (1) | 0 | 0 |
Other postretirement benefit cost from continuing operations | $ 1 | $ 1 | $ 1 |
Note 20 - Other Postretiremen_8
Note 20 - Other Postretirement Benefits - Schedule of Weighted- Average Assumption (Details) - Other Postretirement Benefits Plan [Member] | Dec. 31, 2023 | Dec. 31, 2022 |
Discount rate | 4.64% | 5.15% |
Salary increase rate | 1.85% | 2.10% |
Note 20 - Other Retirement Bene
Note 20 - Other Retirement Benefits - Schedule Of Assumptions Used To Calculate Other Post Retirement Plan Net Benefit Costs (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Effective rate for interest cost | 5.13% | 2.53% | 1.81% |
Salary increase rate | 2.10% | 1.85% | 1.70% |
Note 20 - Other Postretiremen_9
Note 20 - Other Postretirement Benefits - Weighted-average Assumed Healthcare Cost Trend Rates Used to Compute Other Post-retirement Amounts (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Healthcare cost trend | 5.73% | 5.64% |
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 3.32% | 3.57% |
Year that the rate reaches the ultimate trend rate | 2040 | 2043 |
Note 20 - Other Postretireme_10
Note 20 - Other Postretirement Benefits - Other Post-retirement Benefits Which Reflects Expected Future Services Expected to Be Paid (Details) - Other Postretirement Benefits Plan [Member] $ in Millions | Dec. 31, 2023 USD ($) |
2024 | $ 3 |
2025 | 3 |
2026 | 3 |
2027 | 3 |
2028 | 3 |
2029 - 2033 | $ 12 |
Note 21 - Earnings Per Share (D
Note 21 - Earnings Per Share (Details Textual) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Two Thousand Twenty One Convertible Notes [Member] | |||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount, Value | $ 25 | $ 25 | |
Share-Based Payment Arrangement, Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 3.9 | 3.3 | 2.9 |
Series C Preferred Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1.1 | 1.1 | 1 |
Series B Preferred Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1 | 1 |
Note 21 - Earnings Per Share -
Note 21 - Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net income attributable to Eastman Kodak Company | $ 75 | $ 26 | $ 24 |
Less: Preferred Stock cash and accrued dividends | (4) | (4) | (4) |
Less: Preferred Stock in-kind dividends | (5) | (5) | (4) |
Less: Preferred Stock deemed dividends | (2) | (2) | (3) |
Net income available to common shareholders - basic | 56 | 13 | 22 |
Net earnings available to common shareholders - diluted | $ 61 | $ 13 | $ 22 |
Basic (in shares) | 79.4 | 78.9 | 78.4 |
Effect of dilutive securities: | |||
Series B Preferred Stock (in shares) | 9.5 | 0 | 0 |
Diluted (in shares) | 90.5 | 80.6 | 80.5 |
Series A Preferred Stock [Member] | |||
Plus: Expiration of Series A embedded derivative | $ 0 | $ 0 | $ 11 |
Series C Preferred Stock [Member] | |||
Less: Earnings attributable to Series C Preferred shareholders | (8) | (2) | (2) |
Series B Preferred Stock [Member] | |||
Add back: Series B preferred stock cash and deemed dividends | $ 5 | $ 0 | $ 0 |
Restricted Stock Units (RSUs) [Member] | |||
Effect of dilutive securities: | |||
Effect of dilutive securities (in shares) | 0.9 | 0.6 | 0.1 |
Share-Based Payment Arrangement, Option [Member] | |||
Effect of dilutive securities: | |||
Effect of dilutive securities (in shares) | 0.7 | 1.1 | 2 |
Note 22 - Stock-Based Compens_3
Note 22 - Stock-Based Compensation (Details Textual) - USD ($) | 12 Months Ended | |||||
Feb. 16, 2023 | Feb. 15, 2023 | Feb. 26, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award Maximum Fair Value Of Awards Per Non Employee Director | $ 450,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 2,000,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.48 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value | $ 1,000,000 | $ 2,000,000 | $ 2,000,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 25,000 | |||||
Omnibus Incentive Plan 2013 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 13 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 13,500,000 | |||||
New Employment Agreement [Member] | ||||||
Share-Based Payment Arrangement, Plan Modification, Incremental Cost | $ 0 | |||||
Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Common Stock Ownable Percentage | 4.99% | |||||
Share-Based Payment Arrangement, Accelerated Cost | $ 0 | |||||
Minimum [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.32 | $ 0 | ||||
Maximum [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.24 | $ 2.14 | ||||
Share-Based Payment Arrangement, Option [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 3,000,000 | $ 1,000,000 | $ 2,000,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.87 | |||||
Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 7 years | |||||
Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,000,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 1,000,000 | 1,000,000 | 1,000,000 | |||
Incentive Stock Options [Member] | Maximum [Member] | Omnibus Incentive Plan 2013 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 2,000,000 | |||||
Stock Options And Stock Appreciation Rights [Member] | Omnibus Incentive Plan 2013 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Maximum Number of Shares Per Employee (in shares) | 2,500,000 | |||||
Unvested Restricted Stock Awards [Member] | Omnibus Incentive Plan 2013 [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 4,000,000 | $ 4,000,000 | $ 5,000,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 6,000,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days | |||||
Restricted Stock Units And Restricted Stock Awards [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.9 | $ 4.6 | $ 8.5 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 4,000,000 | $ 5,000,000 | $ 6,000,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,007,609 | |||||
Restricted Stock Units (RSUs) [Member] | Omnibus Incentive Plan 2013 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested, Number (in shares) | 368,324 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 6.1 | |||||
Restricted Stock Units (RSUs) [Member] | New Employment Agreement [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 2,000,000 | |||||
Restricted Stock Units (RSUs) [Member] | New Employment Agreement [Member] | Executive Chairman And Chief Executive Officer [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 200,000 | |||||
Non-qualified Stock Options [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | 7 years | ||||
Share-Based Payment Arrangement, Plan Modification, Incremental Cost | $ 2,000,000 | |||||
Share-Based Payment Arrangement, Plan Modification, Awards Modified (in shares) | 3,500,000 |
Note 22 - Stock-based Compens_4
Note 22 - Stock-based Compensation - Schedule Of Share Based Payment Award Restricted Stock Valuation Assumptions (Details) - $ / shares | 12 Months Ended | ||
Feb. 16, 2023 | Feb. 15, 2023 | Dec. 31, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.48 | ||
Risk-free interest rate | 3.80% | ||
Term (in years) (Year) | 3 years | ||
Volatility | 60% | ||
Weighted-average expected dividend yield | 0% | 0% | 0% |
Restricted Stock Units [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.03 | ||
Risk-free interest rate | 3.80% | ||
Term (in years) (Year) | 3 years | ||
Volatility | 60% | ||
Weighted-average expected dividend yield | 0% |
Note 22 - Stock -Based Compensa
Note 22 - Stock -Based Compensation - Schedule Of Share-based Compensation Restricted Stock And Restricted Stock Units Activity (Details) - Restricted Stock Units And Restricted Stock Awards [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Outstanding (in shares) | 1,140,877 | ||
Outstanding, weighted average grant date fair values (in dollars per share) | $ 6.3 | ||
Granted (in shares) | 2,007,609 | ||
Granted, weighted average grant date fair values (in dollars per share) | $ 3.9 | $ 4.6 | $ 8.5 |
Vested (in shares) | 583,810 | ||
Vested, weighted average grant date fair values (in dollars per share) | $ 6.16 | ||
Forfeited (in shares) | 27,092 | ||
Forfeited, weighted average grant date fair values (in dollars per share) | $ 5.37 | ||
Outstanding (in shares) | 2,537,584 | 1,140,877 | |
Outstanding, weighted average grant date fair values (in dollars per share) | $ 4.44 | $ 6.3 |
Note 22 - Stock-based Compens_5
Note 22 - Stock-based Compensation - Schedule Of Share Based Compensation Stock Options Activity (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2023 USD ($) $ / shares shares | |
Outstanding, shares (in shares) | shares | 6,884,311 |
Outstanding, weighted exercise price per share (in dollars per share) | $ / shares | $ 6.97 |
Granted, shares (in shares) | shares | 50,000 |
Fair value of options granted (in dollars per share) | $ / shares | $ 4.28 |
Expired, shares (in shares) | shares | 161,203 |
Expired, weighted exercise price per share (in dollars per share) | $ / shares | $ 15.41 |
Exercised, shares (in shares) | shares | 25,000 |
Exercised, weighted exercise price per share (in dollars per share) | $ / shares | $ 3.9 |
Outstanding, shares (in shares) | shares | 6,748,108 |
Outstanding, weighted exercise price per share (in dollars per share) | $ / shares | $ 6.75 |
Outstanding, weighted average remaining contractual life (Year) | 3 years 4 months 6 days |
Outstanding, aggregate intrinsic value | $ | $ 2 |
Exercisable, shares (in shares) | shares | 6,698,108 |
Exercisable, weighted exercise price per share (in dollars per share) | $ / shares | $ 6.77 |
Exercisable, weighted average remaining contractual life (Year) | 3 years 3 months 29 days |
Exercisable, aggregate intrinsic value | $ | $ 2 |
Expected to vest, shares (in shares) | shares | 6,748,108 |
Expected to vest, weighted exercise price per share (in dollars per share) | $ / shares | $ 6.75 |
Expected to vest, weighted average remaining contractual life (Year) | 3 years 4 months 6 days |
Expected to vest, aggregate intrinsic value | $ | $ 2 |
Note 22 - Stock-based Compens_6
Note 22 - Stock-based Compensation - Schedule Of Share Based Payment Award Stock Options Valuation Assumptions (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Feb. 16, 2023 | Feb. 15, 2023 | Dec. 31, 2023 | |
Weighted-average fair value of options granted (in dollars per share) | $ 3.48 | ||
Risk-free interest rate | 3.80% | ||
Term (in years) (Year) | 3 years | ||
Weighted-average volatility | 120% | ||
Expected dividend yield | 0% | 0% | 0% |
Fair value of options granted (in dollars per share) | $ 4.28 | ||
Risk-free interest rate | 3.80% | ||
Term (in years) (Year) | 3 years | ||
Volatility | 60% | ||
Weighted-average expected dividend yield | $ 0 | ||
Range of fair values (in dollars per share) | $ 3.48 | ||
Range of risk-free interest rates, minimum | 3.82% | 3.82% | |
Range of risk-free interest rates, maximum | 4.99% | 4.99% | |
Range of weighted volatilities, minimum | 66.96% | 66.96% | |
Range of weighted volatilities, maximum | 103.39% | 103.39% | |
Expected dividend yield | 0% | 0% | 0% |
Early exercise model (Year) | 2 years 6 months | 2 years 6 months | |
Number of times steps | 500 | 500 | |
Without Market Condition [Member] | |||
Fair value of options granted (in dollars per share) | $ 2.25 | ||
Minimum [Member] | |||
Weighted-average fair value of options granted (in dollars per share) | $ 1.32 | $ 0 | |
Term (in years) (Year) | 3 years 4 months 13 days | 4 months 13 days | |
Term (in years) (Year) | 3 years 4 months 13 days | 4 months 13 days | |
Range of fair values (in dollars per share) | $ 1.32 | $ 0 | |
Maximum [Member] | |||
Weighted-average fair value of options granted (in dollars per share) | $ 2.24 | $ 2.14 | |
Term (in years) (Year) | 7 years 3 months | 4 years 3 months | |
Term (in years) (Year) | 7 years 3 months | 4 years 3 months | |
Range of fair values (in dollars per share) | $ 2.24 | $ 2.14 | |
Weighted Average [Member] | |||
Risk-free interest rate | 3.75% | ||
Term (in years) (Year) | 4 years 6 months | ||
Risk-free interest rate | 3.75% | ||
Term (in years) (Year) | 4 years 6 months |
Note 23 - Shareholders' Equity
Note 23 - Shareholders' Equity (Details Textual) | Aug. 10, 2021 USD ($) shares | Feb. 26, 2021 USD ($) $ / shares shares | Dec. 31, 2023 $ / shares shares | Dec. 31, 2022 $ / shares shares | Feb. 28, 2021 shares |
Stock Authorized (in shares) | 560,000,000 | ||||
Common Stock, Shares Authorized (in shares) | 500,000,000 | ||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | ||
Preferred Stock, Shares Authorized (in shares) | 60,000,000 | ||||
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 | ||||
Common Stock, Shares, Outstanding (in shares) | 79,600,000 | 79,100,000 | |||
Treasury Stock, Common, Shares (in shares) | 1,000,000 | 900,000 | |||
Number Of Shares Registered For Resale Through Registration Statements (in shares) | 44,490,032 | ||||
Securities Registered For Offer And Sale Through Registration Statements | $ | $ 500,000,000 | ||||
Registration Rights Agreement [Member] | Five Percentage Unsecured Convertible Promissory Notes Due May Twenty Eight Two Thousand Twenty Six [Member] | |||||
Debt Instrument, Convertible, Number of Equity Instruments | 1,000,000 | ||||
Debt Instrument, Face Amount | $ | $ 25,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5% | ||||
Series B Preferred Stock [Member] | |||||
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 | ||||
Preferred Stock, Shares Outstanding (in shares) | 1,000,000 | ||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 1,000,000 | ||||
Series C Preferred Stock [Member] | |||||
Preferred Stock, Shares Outstanding (in shares) | 1,100,000 | ||||
Series C Preferred Stock [Member] | Registration Rights Agreement [Member] | |||||
Stock Repurchased During Period, Shares (in shares) | 1,000,000 |
Note 24 - Other Comprehensive I
Note 24 - Other Comprehensive Income (Loss) - Changes in Other Comprehensive Income (Loss), by Component (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Currency translation adjustments | $ (8) | $ (12) | $ 6 | |
Newly established net actuarial (loss) gain | (122) | 277 | 632 | |
Newly established prior service cost | (29) | (28) | 0 | |
Tax benefit | 0 | 0 | 0 | |
Newly established net actuarial (loss) gain, net of tax | (151) | 249 | 632 | |
Prior service cost (credit) | [1] | 9 | (4) | (7) |
Net actuarial (gain) loss | [1] | (31) | 8 | 37 |
Recognition of losses due to settlements and curtailments | 0 | 0 | (1) | |
Total reclassification adjustments | (22) | 4 | 29 | |
Tax provision | 0 | 0 | 0 | |
Reclassification adjustments, net of tax | (22) | 4 | 29 | |
Pension and other postretirement benefit plan changes, net of tax | (173) | 253 | 661 | |
Other comprehensive (loss) income, net attributable to Eastman Kodak Company | $ (181) | $ 241 | $ 667 | |
[1]Reclassified to Pension income - refer to Note 20, "Retirement Plans" and Note 21, "Other Postretirement Benefits" for additional information. |
Note 25 - Accumulated Other C_3
Note 25 - Accumulated Other Comprehensive Income - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Currency translation adjustments | $ (120) | $ (112) |
Pension and other postretirement benefit plan changes | 401 | 574 |
Total | $ 281 | $ 462 |
Note 26 - Segment Information_2
Note 26 - Segment Information (Details Textual) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 USD ($) a | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | ||
Number of Reportable Segments | 3 | |||
Consulting and Other Costs | $ 15 | $ 10 | ||
Proceeds from Insurance Settlement, Investing Activities | 5 | |||
Increase (Decrease) in Employee Related Liabilities | (1) | (15) | ||
Increase (Decrease) in Workers' Compensation Liabilities | (1) | (13) | $ (4) | |
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits, Total | (2) | |||
Long-Lived Assets | [1] | 169 | 154 | |
BRAZIL | ||||
Long-Lived Assets | 45 | 41 | ||
Selling, General and Administrative Expenses [Member] | ||||
Increase (Decrease) in Employee Related Liabilities | 1 | (5) | (1) | |
Gross Profit [Member] | ||||
Increase (Decrease) in Employee Related Liabilities | (9) | $ (3) | ||
Research and Development Expense [Member] | ||||
Increase (Decrease) in Employee Related Liabilities | $ (1) | |||
Other Current Assets [Member] | ||||
Insurance Reimbursement | 20 | |||
Insurance Settlements Receivable, Current | $ 5 | |||
Eastman Business Park Rochester N Y [Member] | Minimum [Member] | ||||
Area of Real Estate Property (Acre) | a | 1,200 | |||
Print [Member] | ||||
Number of Reportable Segments | 1 | |||
Number of Business Lines | 5 | |||
Advanced Materials And Chemicals [Member] | ||||
Number of Reportable Segments | 4 | |||
[1]Long-lived assets are comprised of property, plant and equipment, net. |
Note 26 - Segment Information -
Note 26 - Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Total revenues | $ 1,117 | $ 1,205 | $ 1,150 | |
Revenue | 1,117 | 1,205 | 1,150 | |
Depreciation and amortization | (30) | (29) | (31) | |
Restructuring costs and other | (7) | (10) | (6) | |
Consulting and Other Costs | 15 | 10 | ||
Other operating (expense) income, net (3) | (6) | 1 | 6 | |
Interest expense (3) | (52) | (40) | (33) | |
Pension income excluding service cost component (3) | 161 | 98 | 102 | |
Loss on early extinguishment of debt (3) | (27) | 0 | 0 | |
Other income (charges), net (3) | 1 | (1) | 5 | |
Amortization of Intangible Assets | 4 | 5 | 5 | |
Depreciation expense | 26 | 24 | 26 | |
Continuing Operations [Member] | ||||
Total revenues | 1,117 | 1,205 | 1,150 | |
Revenue | 1,117 | 1,205 | 1,150 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 45 | 18 | 11 | |
Depreciation and amortization | (30) | (29) | (31) | |
Restructuring costs and other | (10) | (13) | (6) | |
Stock-based compensation | (7) | (5) | (7) | |
Consulting and Other Costs | [1] | 13 | 2 | (19) |
Idle costs (2) | [2] | (3) | (3) | (2) |
Other operating (expense) income, net (3) | (6) | 1 | 6 | |
Interest expense (3) | [3] | (52) | (40) | (33) |
Pension income excluding service cost component (3) | [3] | 161 | 98 | 102 |
Loss on early extinguishment of debt (3) | [3] | (27) | 0 | 0 |
Other income (charges), net (3) | [3] | 1 | (1) | 5 |
Consolidated earnings from continuing operations before income taxes | 87 | 31 | 28 | |
Amortization of Intangible Assets | 4 | 5 | 5 | |
Depreciation expense | 25 | 24 | 26 | |
Continuing Operations [Member] | Operating Segments [Member] | ||||
Total revenues | 1,100 | 1,189 | 1,135 | |
Revenue | 1,100 | 1,189 | 1,135 | |
Continuing Operations [Member] | Operating Segments [Member] | Print [Member] | ||||
Amortization of Intangible Assets | 4 | 4 | 4 | |
Depreciation expense | 17 | 17 | 20 | |
Continuing Operations [Member] | Operating Segments [Member] | Brand [Member] | ||||
Total revenues | 17 | 17 | 15 | |
Revenue | 17 | 17 | 15 | |
Amortization of Intangible Assets | 0 | 1 | 1 | |
Continuing Operations [Member] | Operating Segments [Member] | Advanced Materials And Chemicals [Member] | ||||
Depreciation expense | 7 | 6 | 5 | |
Continuing Operations [Member] | Operating Segments [Member] | All Other [Member] | ||||
Depreciation expense | 1 | 1 | 1 | |
Print [Member] | ||||
Total revenues | 828 | 938 | 908 | |
Revenue | 828 | 938 | 908 | |
Print [Member] | Continuing Operations [Member] | Operating Segments [Member] | ||||
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 20 | 5 | 4 | |
Advanced Materials And Chemicals [Member] | ||||
Total revenues | 255 | 234 | 212 | |
Revenue | 255 | 234 | 212 | |
Advanced Materials And Chemicals [Member] | Continuing Operations [Member] | Operating Segments [Member] | ||||
Total revenues | 255 | 234 | 212 | |
Revenue | 255 | 234 | 212 | |
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 10 | (1) | (6) | |
Brand [Member] | ||||
Total revenues | 17 | 17 | 15 | |
Revenue | 17 | 17 | 15 | |
Brand [Member] | Continuing Operations [Member] | Operating Segments [Member] | ||||
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | 15 | 14 | 13 | |
All Other [Member] | ||||
Total revenues | 17 | 16 | 15 | |
Revenue | 17 | 16 | 15 | |
All Other [Member] | Continuing Operations [Member] | ||||
Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization | $ 2 | $ 3 | $ 2 | |
[1]Consulting and other costs are professional services and internal costs associated with corporate strategic initiatives, investigations and litigation. Consulting and other costs include $10 million of income in the year ended December 31, 2022 representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters. Kodak received $5 million of insurance reimbursement in the fourth quarter of 2022 and the remaining $5 million in January 2023.[2]Consists of third-party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.[3]As reported in the Consolidated Statement of Operations. |
Note 26 - Segment Information_3
Note 26 - Segment Information - Long Lived Assets by Geographical Areas (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | |
Long-lived assets | [1] | $ 169 | $ 154 |
UNITED STATES | |||
Long-lived assets | [1] | 112 | 95 |
EMEA [Member] | |||
Long-lived assets | [1] | 6 | 9 |
Asia Pacific [Member] | |||
Long-lived assets | [1] | 5 | 6 |
Canada And Latin America [Member] | |||
Long-lived assets | [1] | 46 | 44 |
Non-US [Member] | |||
Long-lived assets | [1],[2] | $ 57 | $ 59 |
[1]Long-lived assets are comprised of property, plant and equipment, net.[2]Of the total non-U.S. property, plant and equipment in 2022, $41 million was located in Brazil. Of the total non-U.S. property, plant and equipment in 2021, $39 million was located in Brazil. |
Note 27 - Business Combination
Note 27 - Business Combination (Details Textual) | May 26, 2023 |
Graphic Systems Services, Inc. [Member] | |
Business Acquisition, Percentage of Voting Interests Acquired | 100% |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||
Balance at beginning of period | $ 7 | $ 7 | $ 10 |
Additions | 3 | 2 | 0 |
Net deductions and other | 2 | 2 | 3 |
Balance at end of period | 8 | 7 | 7 |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | |||
Balance at beginning of period | 826 | 934 | 1,112 |
Additions | 62 | 18 | 33 |
Net deductions and other | 110 | 126 | 211 |
Balance at end of period | $ 778 | $ 826 | $ 934 |