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Note 27: Condensed Combined Debtor-In-Possesion Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
(in millions) |  | For the Year Ended December 31, 2012 |
Net sales |  |  |
Products |  | $ | 1,558 |
Services |  |  | 356 |
Licensing & royalties |  |  | (48 | )
Total net sales |  | $ | 1,866 |
Cost of sales |  |  |  |
Products |  | $ | 1,627 |
Services |  |  | 310 |
Total cost of sales |  | $ | 1,937 |
Gross profit (loss) |  | $ | (71 | )
Selling, general and administrative expenses |  |  | 417 |
Research and development costs |  |  | 172 |
Restructuring costs and other |  |  | 143 |
Other operating (income) expenses, net |  |  | (38 | )
Loss from continuing operations before interest expense, other income (charges), net, reorganization items, net and income taxes |  |  | (765 | )
Interest expense (contractual interest for the year ended December 31, 2012 of $193) |  |  | 148 |
Loss on early extinguishment of debt, net |  |  | 7 |
Other income (charges), net |  |  | 34 |
Reorganization items, net |  |  | 843 |
Loss from continuing operations before income taxes |  |  | (1,729 | )
Benefit for income taxes |  |  | (369 | )
Loss from continuing operations |  |  | (1,360 | )
Loss from discontinued operations, net of income taxes |  |  | (47 | )
NET LOSS ATTRIBUTABLE TO DEBTOR ENTITIES |  |  | (1,407 | )
Equity in earnings of non-filing entities, net of tax |  |  | 28 |
NET LOSS ATTRIBUTABLE TO EASTMAN KODAK COMPANY |  | $ | (1,379 | )
(in millions) | For the Year Ended Decemeber 31, 2012 |
NET LOSS ATTRIBUTABLE TO DEBTOR ENTITIES | $ | (1,407 | )
Other comprehensive income (loss), net of tax: |  |  |
Realized and unrealized losses from hedging activity, net of tax $2 |  | (1 | )
Reclassification adjustment for hedging-related gains included in net earnings, net of tax of $1 |  | 5 |
Unrealized gain from investment, net of tax of $0 for the year ended December 31, 2012 |  | - |
Currency translation adjustments |  | 1 |
Pension and other postretirement benefit plan obligation activity, net of tax of $255 for the year ended December 31, 2012 |  | 434 |
Total comprehensive loss, net of tax | $ | (968 | )
(in millions) |  | For the Year Ended December 31, 2012 |
Retained earnings at beginning of period |  | $ | 4,849 |
Net loss |  |  | (1,379 | )
Loss from issuance of treasury stock |  |  | (92 | )
Retained earnings at end of period |  | $ | 3,378 |
(in millions) ASSETS |  | As of December 31, 2012 |
Current Assets |  |  |
Cash and cash equivalents |  | $ | 337 |
Receivables, net |  |  | 201 |
Receivables and advances from non-filing entities, net |  |  | 159 |
Inventories, net |  |  | 285 |
Deferred income taxes |  |  | 34 |
Other current assets |  |  | 19 |
Total current assets |  |  | 1,035 |
Property, plant and equipment, net of accumulated depreciation of $3,294 |  |  | 426 |
Goodwill |  |  | 144 |
Investment in non-filing entities |  |  | 1,964 |
Other long-term assets |  |  | 17 |
TOTAL ASSETS |  | $ | 3,586 |
LIABILITIES AND EQUITY (DEFICIT) |  |  |  |
Current Liabilities |  |  |  |
Accounts payable, trade |  | $ | 192 |
Short-term borrowings and current portion of long-term debt |  |  | 659 |
Accrued income and other taxes |  |  | 5 |
Other current liabilities |  |  | 488 |
Total current liabilities |  |  | 1,344 |
Long-term debt, net of current portion |  |  | 740 |
Other long-term liabilities |  |  | 293 |
Liabilities subject to compromise |  |  | 2,909 |
Total Liabilities |  |  | 5,286 |
Equity (Deficit) |  |  |  |
Common stock, $2.50 par value |  |  | 978 |
Additional paid in capital |  |  | 1,105 |
Retained earnings |  |  | 3,378 |
Accumulated other comprehensive loss |  |  | (1,415 | )
|  |  | 4,046 |
Less: Treasury stock, at cost |  |  | (5,746 | )
Total Eastman Kodak Company shareholders’ (deficit) equity |  |  | (1,700 | )
Noncontrolling interests |  |  | - |
Total (deficit) equity |  |  | (1,700 | )
TOTAL LIABILITIES AND DEFICIT |  | $ | 3,586 |
(in millions) |  | For the Year Ended December 31, 2012 |
Cash flows from operating activities: |  |  |
Net loss attributable to debtor entities |  | $ | (1,407 | )
Adjustments to reconcile to net cash used in operating activities: |  |  |  |
Loss from discontinued operations, net of income taxes |  |  | 47 |
Depreciation and amortization |  |  | 150 |
Gain on sales of businesses/assets |  |  | (1 | )
Loss on early extinguishment of debt |  |  | 7 |
Non-cash restructuring costs, asset impairments and other charges |  |  | 16 |
Non-cash reorganization items, net |  |  | 717 |
Benefit for deferred income taxes |  |  | (18 | )
Increase in receivables |  |  | (118 | )
Decrease in inventories |  |  | 12 |
Increase in liabilities excluding borrowings |  |  | 120 |
Other items, net |  |  | 101 |
Total adjustments |  |  | 1,033 |
Net cash used in continuing operations |  |  | (374 | )
Net cash provided by discontinued operations |  |  | 8 |
Net cash used in operating activities |  |  | (366 | )
Cash flows from investing activities: |  |  |  |
Additions to properties |  |  | (27 | )
Proceeds from sales of businesses/assets |  |  | 9 |
Marketable securities - sales |  |  | 95 |
Marketable securities - purchases |  |  | (91 | )
Net cash used in continuing operations |  |  | (14 | )
Net cash provided by discontinued operations |  |  | 24 |
Net cash provided by investing activities |  |  | 10 |
Cash flows from financing activities: |  |  |  |
Proceeds from DIP credit agreement |  |  | 686 |
Repayment of borrowings |  |  | (136 | )
Reorganization items |  |  | (41 | )
Net cash provided by financing activities |  |  | 509 |
Net increase in cash and cash equivalents |  |  | 153 |
Cash and cash equivalents, beginning of year |  |  | 184 |
Cash and cash equivalents, end of year |  | $ | 337 |
(in millions) |  | As of December 31, 2012 |
Accounts payable |  | $ | 283 |
Debt |  |  | 683 |
Pension obligations |  |  | 785 |
Settlements |  |  | 710 |
Payable and advances to non-filing entities |  |  | 193 |
Other liabilities subject to compromise |  |  | 255 |
Liabilities subject to compromise |  | $ | 2,909 |

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