afternoon. Commission. and its filed the the Thanks, Securities XXXX, for Form Today, ended good year XX, has December company and Jim, with the XX-K Exchange
you recommend in filing this its entirety. As do, read they I always
details the I year, the provide into liquidity to for the transactions updates completed provided the company. get I quarter on to and briefly within the additional full would company XXXX, some like of Before which
the general overview discussed, working purposes and used premium $XX net company a which, proceeds summary, refinancing in million previously closed last on capital a satisfying of and As cash and the announced after quarter we our prepayment refinancing provided obligations corporate of company for by an transaction in transaction On XXXX. the provided being third the call, of needs.
to arrangements $X into licensing of revenue brand Kodak cash the and of total licensing $XX to in XXXX, $XX deferred quarter arrangements multiple these billion million remaining long-term XXXX, XXXX. $XX and entered the XXXX recorded receive and Additionally, during the proceeds quarter respectively. of expects third approximately million. in of first approximately Kodak Kodak million related received
Details of these and disclosed transactions in filed financing XX-K are brand our Form licensing today.
Additionally, the MD&A. media statement about there fund. the topic to the you on been U.S. SEC direct section recent has within XX-K this statement the Kodak's activity today, and of in company's liquidity We filed with including the Form pension the
in smart the company the resulted will flow EBITDA cost in company I to economic fourth face Driving reductions collective in revenue, full cash customer-focused extremely operational profitability year improvements these of initiatives pricing share the XXXX. continue results, of details of quarter rationalization, be and a for initiatives now difficult have and result full environment. on the impact the priority for as the and global an and
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to of million workers' benefit $X On income we quarter, and to million compensation asset million and income of million. reserves, a impairments. reported include fourth expense in prior income million, $X million, of fourth an XXXX GAAP compared $X expense changes net $X The quarter $X of in related million XXXX year decrease results U.S. and noncash respectively, respectively, employee and a net in to quarter of the $X related $X the of basis,
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million. quarter the to million reflecting and current $X in of these $XX items, an for income net of prior income net Excluding was compared XXXX improvement million quarter. prior $X year
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year impact prior prior Excluding compensation of benefit current the exchange the to reserves and in noncash the year and year and compared current both workers' employee $X by period, quarter. operational the decreased million EBITDA and of changes in favorable the in foreign impact periods when
to EBITDA by associated information offset technology structure organizational by impacted efficiencies, XXXX drive was related systems, to in investments unfavorably an operational pricing further Operational rationalization. with partially for profitability costs higher
end had cash $XXX from quarter the to $X of prior period. $XXX the on The improvement year-end at balance Slide on X. million Moving the XXXX, with compared an company of million performance third million of cash the company's fourth of presented quarter a
quarters. delivered in X enhances year, which team performance last the consecutive cash, working which profitability company's and Throughout capital, the generate we our to in of X ability improves the
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capital Cash initiatives. compared used the period, million in the $X from growth primarily in to in when activities of as an $XX we increase continue in investing prior an million resulting increase was expenditures current period. invest year to year
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for compared million declined or the X%. X, million to company Slide the by to year, the On prior foreign $X.XXX year million, billion of of decline of prior had year. Adjusting revenues billion for in $X revenue impact the $XX or compared a of favorable X% full or exchange the $X.XXX $XX XXXX, of
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make a efficient. our has global mitigate rationalization, team to effects the more revenue, cost taken, economy and operations many of including driving pricing is the our result the smart initiatives to customer-focused This actions and of reduction
expense the On income improvement U.S. net for million of to we XXXX include a $XX of basis, changes income prior asset of expense of million, to compensation million $XX to $XX benefit in noncash impairments. The in $X in GAAP derivative employee related $X and $X fair workers' XXXX compared value of of XXXX, income results and million $X respectively, changes respectively, related and reserves million related from the million, $XX respectively, and liabilities, year. net and of million $X million, to and of million income reported embedded XXXX an
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XXX% and -- $XX compared million in XXXX, for from Operational EBITDA to or an was XXXX the prior $XX improvement $XX of million million year.
year, favorable Excluding and and million -- of increased the compensation XXXX the and current impact changes from noncash exchange year. EBITDA the reserves in of in and foreign prior the benefit XXXX workers' impact $XX employee in by operational
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year Moving $XX full and XXXX. XX. with December on to Slide cash of million company's The from in company XXXX cash on an XX, increase million equivalents, $XXX performance the presented ended cash
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for million from $XX improvement flow by $XXX capital changes, $XXX million an operating of flows million breakeven the $XX trade working sheet and borrowings and in million. receivable $XX accounts million, Cash decreased liabilities provided including from working improvement improved increase and by $XX accounts flows balance payables in Cash from net million million. excluding by increased year, by decreased in payable driven prior cash an was Within capital, XXXX. by earnings activities $XX by inventory cash
very focus period. this We and throughout levels comfortable economic capital with serving customers our our our maintained of working are have difficult on
year, year. investing interest discovery when in The the the a equity $XX $XX in in current a million year prior activities includes of million investment used $XX Cash prior compared technologies. million wildcat was decrease to
million was in refinancing which the year. by in prior activities year to impacts the transaction, activities improvement financing cash This XXXX. the driven in the current from by compared financing million provided $XX quarter the in Cash third is of $XX occurred of
in the cash quarter exercised year million financing second Cash by loan from term delayed fees the received and expenses, of prior incremental $XX the provided of activities proceeds includes in by XXXX. draw driven after
the supporting -- the from December addition, in liabilities, obligations. XX, of various the compensation year primarily at aluminum contracts end $XXX escrows The workers' increase an facility of supply to was of Restricted required cash XXXX. and collateral ongoing to million, XXXX support cash represents collateral cash $XX million of cash letter certain secure Restricted credit
Compensation -- $XX during the the the and for refinancing quarter Board. As company to million New Workers' previously reported, deposit deposited third State security support of from required primarily proceeds the XXXX, York
statement is cash restricted of XXXX, current and December of of $XX balance position. as financial The million XX, -- as reported on our
to will restrictions reduce cash. to on continue We on alternatives focus
the As in and the period, bottom the equivalents financing year, prior cash prior governmental term presented the the on portion of cash REIT draw of loan of the year-over-year and in excluding current a non-U.S. impact the current effect exchange increase year from rates receipt proceeds slide, the million. fund changes each in transaction the from restricted cash, and cash year net on refinancing delayed in authority the was of $XXX a the for year
$XXX of flow This operations from result improvement of the year-over-year the is million. cash in primarily
cash are the performance of health sheet. flow pleased We and with our the balance company's
execution on strategy. long-term to of continue will our focus the We
our with we Finally, turn Form compliance applicable XX-K, covenants. I in to the now as discussion will in remain Jim. financial back disclosed
