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Note 20 - Other Postretirement Benefits | 12 Months Ended
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Dec. 31, 2013
Postemployment Benefits [Abstract] |
Postemployment Benefits Disclosure [Text Block] | NOTE 20: OTHER POSTRETIREMENT BENEFITS The Company provided U.S. medical, dental, life insurance, and survivor income benefits to eligible retirees, long-term disability recipients and their spouses, dependents and survivors. Generally, to be eligible for these benefits, former employees leaving the Company prior to January 1, 1996 were required to be 55 years of age with ten years of service or their age plus years of service must have equaled or exceeded 75. For those leaving the Company after December 31, 1995, former employees must be 55 years of age with ten years of service or have been eligible as of December 31, 1995. These benefits are paid from the general assets of the Company as they are incurred. The Company's subsidiary in Canada offers similar postretirement benefits. On November 7, 2012, the Bankruptcy Court entered an order approving a settlement agreement between the Debtors and the Retiree Committee appointed by the U.S. Trustee which eliminated or reduced certain retiree benefits under the U.S. plan. The Company also eliminated all postretirement benefits for active employees in the U.S. The measurement date used to determine the net benefit obligation for Kodak's other postretirement benefit plans is December 31. Changes in Kodak’s benefit obligation and funded status for the U.S. and Canada other postretirement benefit plans were as follows:
(in millions) |  | Successor |  |  | Predecessor |
|  | 2013 |  |  | 2013 |  |  | 2012 |
Net benefit obligation at beginning of period |  | $ | 82 |  |  | $ | 137 |  |  | $ | 1,294 |
Service cost |  |  | - |  |  |  | - |  |  |  | 1 |
Interest cost |  |  | 1 |  |  |  | 3 |  |  |  | 44 |
Plan participants’ contributions |  |  | 4 |  |  |  | 9 |  |  |  | 17 |
Plan amendments |  |  | - |  |  |  | - |  |  |  | (460 | )
Actuarial (gain) loss |  |  | (2 | ) |  |  | (50 | ) |  |  | 117 |
Settlements |  |  | - |  |  |  | - |  |  |  | (738 | )
Benefit payments |  |  | (6 | ) |  |  | (12 | ) |  |  | (134 | )
Other |  |  | - |  |  |  | - |  |  |  | (6 | )
Currency adjustments |  |  | (1 | ) |  |  | (5 | ) |  |  | 2 |
Net benefit obligation at end of period |  | $ | 78 |  |  | $ | 82 |  |  | $ | 137 |
Underfunded status at end of period |  | $ | (78 | ) |  | $ | (82 | ) |  | $ | (137 | )
Amounts recognized in the Consolidated Statement of Financial Position for the Company's U.S. and Canada plans consist of:
|  | As of December 31, |
(in millions) |  | 2013 |  |  | 2012 |
Other current liabilities |  | $ | (8 | ) |  | $ | (23 | )
Pension and other postretirement liabilities |  |  | (70 | ) |  |  | (114 | )
|  | $ | (78 | ) |  | $ | (137 | )
Pre-tax amounts recognized in accumulated other comprehensive loss for the Company's U.S. and Canada plans consist of:
(in millions) |  | Successor |  |  | Predecessor |
|  | As of December 31, |
|  | 2013 |  |  | 2012 |
Prior service credit |  | $ | - |  |  | $ | 1,118 |
Net actuarial gain (loss) |  |  | 2 |  |  |  | (73 | )
Total recorded in Accumulated other comprehensive income |  | $ | 2 |  |  | $ | 1,045 |
Changes in benefit obligations recognized in Other comprehensive income (loss) consist of:
(in millions) |  | Successor |  |  | Predecessor |
|  | 2013 |  |  | 2013 |  |  | 2012 |
Newly established gain (loss) |  | $ | 2 |  |  | $ | 50 |  |  | $ | (117 | )
Newly established prior service credit |  |  | - |  |  |  | - |  |  |  | 460 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Prior service credit |  |  | - |  |  |  | (75 | ) |  |  | (83 | )
Net actuarial loss |  |  | - |  |  |  | 3 |  |  |  | 26 |
Prior service credit recognized due to curtailment |  |  | - |  |  |  | - |  |  |  | (9 | )
Net loss recognized in expense due to settlement |  |  | - |  |  |  | - |  |  |  | 510 |
Total income (loss) recognized in Other comprehensive income (loss) before fresh start accounting |  | $ | 2 |  |  | $ | (22 | ) |  | $ | 787 |
Effect of application of fresh start accounting |  |  |  |  |  | $ | (1,023 | ) |  |  |  |
Other postretirement benefit cost for the Company's U.S. and Canada plans included:
|  | Successor |  |  | Predecessor |
(in millions) |  | For the Four Months Ended December 31, 2013 |  |  | For the Eight Months Ended August 31, 2013 |  |  | For the Year Ended December 31, 2012 |  |  | For the Year Ended December 31, 2011 |
Components of net postretirement benefit cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | - |  |  | $ | - |  |  | $ | 1 |  |  | $ | 1 |
Interest cost |  |  | 1 |  |  |  | 3 |  |  |  | 44 |  |  |  | 64 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service credit |  |  | - |  |  |  | (75 | ) |  |  | (83 | ) |  |  | (77 | )
Actuarial loss |  |  | - |  |  |  | 3 |  |  |  | 26 |  |  |  | 32 |
Other postretirment benefit cost (income) before curtailments and settlements |  | $ | 1 |  |  | $ | (69 | ) |  | $ | (12 | ) |  | $ | 20 |
Curtailment gains |  |  | - |  |  |  | - |  |  |  | (9 | ) |  |  | - |
Settlement gains |  |  | - |  |  |  | - |  |  |  | (228 | ) |  |  | - |
Other postretirement benefit cost (income) from continuing operations |  | $ | 1 |  |  | $ | (69 | ) |  | $ | (249 | ) |  | $ | 20 |
The Company does not expect to recognize any amounts recorded in accumulated other comprehensive loss as components of net periodic benefit cost over the next year. The weighted-average assumptions used to determine the net benefit obligations were as follows:
|  | Successor |  |  | Predecessor |
|  | December 31, |  |  | August 31, |  |  | December 31, |
|  | 2013 |  |  | 2013 |  |  | 2012 |
Discount rate |  |  | 4.24 | % |  |  | 4.02 | % |  |  | 2.97 | %
Salary increase rate |  |  | 2.50 | % |  |  | 2.50 | % |  |  | 2.50 | %
The weighted-average assumptions used to determine the net postretirement benefit cost were as follows:
|  | Successor |  |  | Predecessor |
(in millions) |  | For the Four Months Ended December 31, 2013 |  |  | For the Eight Months Ended August 31, 2013 |  |  | For the Year Ended December 31, 2012 |  |  | For the Year Ended December 31, 2011 |
Discount rate |  |  | 4.02 | % |  |  | 2.97 | % |  |  | 4.25 | % |  |  | 5.03 | %
Salary increase rate |  |  | 2.50 | % |  |  | 2.50 | % |  |  | 3.09 | % |  |  | 4.05 | %
The weighted-average assumed healthcare cost trend rates used to compute the other postretirement amounts were as follows:
|  | Successor |  |  | Predecessor |
|  | 2013 |  |  | 2012 |
Healthcare cost trend |  |  | 6.61 | % |  |  | 7.08 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) |  |  | 5.00 | % |  |  | 5.00 | %
Year that the rate reaches the ultimate trend rate |  |  | 2020 |  |  |  | 2019 |
A one-percentage point change in assumed healthcare cost trend rates would have the following effects:
(in millions) |  | 1% increase |  |  | 1% decrease |
Effect on total service and interest cost |  | $ | - |  |  | $ | - |
Effect on postretirement benefit obligation |  |  | 6 |  |  |  | (5 | )
Kodak expects to make $8 million of benefit payments for its U.S. and Canada unfunded other postretirement benefit plans in 2014. The following other postretirement benefits, which reflect expected future service, are expected to be paid.
(in millions) |  |  |
2014 |  | $ | 8 |
2015 |  |  | 7 |
2016 |  |  | 7 |
2017 |  |  | 6 |
2018 |  |  | 5 |
2019-2023 |  |  | 22 |

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- Definition The entire disclosure for postemployment benefits, which may include supplemental unemployment benefits, obligations recognized for all types of benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement. Disclosure may also include discussion that an obligation for postemployment benefits is not accrued in accordance with regulation only because the amount cannot be reasonably estimated. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -SubTopic 10 -Section 25 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6410138&loc=d3e79691-111665 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6410195&loc=d3e80090-111668 + Details
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