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Note 3 - Fresh Start Accounting (Tables) | 12 Months Ended
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Dec. 31, 2013
Note 3 - Fresh Start Accounting (Tables) [Line Items] |
Reconciliation of Enterprise Value to Estimated Fair Value [Table Text Block] |
(in millions, except share and per share value) |  |  |
Enterprise value |  | $ | 1,000 |
Plus: Cash and cash equivalents |  |  | 898 |
Less: Other non-operating liabilities |  |  | 18 |
Less: Fair value of debt and capitalized lease obligations |  |  | 734 |
Less: Fair value of pension and other postretirement obligations |  |  | 533 |
Less: Fair value of warrants |  |  | 24 |
Fair value of Successor common stock |  | $ | 589 |
Shares outstanding at September 3, 2013 |  |  | 41,753,211 |
Per share value |  | $ | 14.11 |
Reconciliation of Enterprise Value to Estimated Reorganization Value [Table Text Block] |
(in millions) |  |  |
Enterprise value |  | $ | 1,000 |
Plus: Cash and cash equivalents |  |  | 898 |
Plus: Fair value of noncontrolling interests |  |  | 10 |
Plus: Fair value of non-debt liabilities |  |  | 2,088 |
Less: Fair value of pension and other postretirement obligations |  |  | 533 |
Reorganization value of Successor assets |  | $ | 3,463 |
Schedule of Cash Payments for Reorganization Adjustments [Table Text Block] |
(in millions) |  |  |  |  |  |
Sources: |  |  |  |  |  |
Net proceeds from Emergence Credit Facilities |  | $ | 664 |  |  |  |
Proceeds from Rights Offerings |  |  | 406 |  |  |  |
Total sources |  |  |  |  |  | $ | 1,070 |
Uses: |  |  |  |  |  |  |  |
Repayment of Junior DIP Term Loans |  | $ | 644 |  |  |  |  |
Repayment of Second Lien Notes |  |  | 375 |  |  |  |  |
Claims paid at emergence |  |  | 94 |  |  |  |  |
Funding of escrow accounts |  |  | 113 |  |  |  |  |
Other fees and expenses |  |  | 16 |  |  |  |  |
Total uses |  |  |  |  |  |  | 1,242 |
Net uses |  |  |  |  |  | $ | (172 | )
Reorganization Liabilities Subject to Compromise [Table Text Block] |
(in millions) |  |  |  |  |  |
Liabilities subject to compromise of the Predecessor Company (LSTC) |  |  |  |  | $ | 2,475 |
Cash payments at emergence from LSTC |  |  |  |  |  | (84 | )
Claims expected to be satisfied in cash |  |  |  |  |  | (35 | )
Liabilities reinstated at emergence: |  |  |  |  |  |  |
Pension and other postretirement liabilities |  |  | (156 | ) |  |  |  |
Environmental obligations |  |  | (61 | ) |  |  |  |
Other current liabilities |  |  | (9 | ) |  |  |  |
Total liabilities reinstated at emergence |  |  |  |  |  |  | (226 | )
Fair value of equity issued to unsecured creditors |  |  |  |  |  |  | (85 | )
Fair value of warrants issued to unsecured creditors |  |  |  |  |  |  | (24 | )
Gain on settlement of liabilities subject to compromise |  |  |  |  |  | $ | 2,021 |
Schedule of Cumulative Impact of Reorganization Adjustments [Table Text Block] |
(in millions) |  |  |
Gain on settlement of liabilities subject to compromise |  | $ | 2,021 |
Fair value of shares issued to Backstop Parties and employees |  |  | (25 | )
Write-off of unamortized debt discounts and debt issuance costs |  |  | (14 | )
Success fees accrued at emergence |  |  | (13 | )
Emergence and success fees paid at emergence |  |  | (9 | )
Write-off of deferred equity issuance costs |  |  | (3 | )
Net gain on reoganization adjustments |  |  | 1,957 |
Cancellation of Predecessor Company equity |  |  | (3,628 | )
Net impact to Retained earnings (deficit) |  | $ | (1,671 | )
Schedule of Inventory, Current [Table Text Block] |
|  | Successor |  |  | Predecessor |
(in millions) |  | As of December 31, 2013 |  |  | As of December 31, 2012 |
Finished goods |  | $ | 185 |  |  | $ | 236 |
Work in process |  |  | 94 |  |  |  | 87 |
Raw materials |  |  | 79 |  |  |  | 97 |
Total |  | $ | 358 |  |  | $ | 420 |
Property, Plant and Equipment [Table Text Block] |
|  | Successor |  |  | Predecessor |
(in millions) |  | As of December 31, 2013 |  |  | As of December 31, 2012 |
Land |  | $ | 117 |  |  | $ | 39 |
Buildings and building improvements |  |  | 178 |  |  |  | 1,156 |
Machinery and equipment |  |  | 414 |  |  |  | 3,138 |
Construction in progress |  |  | 42 |  |  |  | 28 |
|  |  | 751 |  |  |  | 4,361 |
Accumulated depreciation |  |  | (67 | ) |  |  | (3,754 | )
Property, plant and equipment, net |  | $ | 684 |  |  | $ | 607 |
Schedule of Goodwill [Table Text Block] |
(in millions) |  | Graphics, Entertainment and Commercial Films Segment |  |  | Digital Printing and Enterprise Segment |  |  | Consolidated Total |
Balance as of December 31, 2011 and 2012 (Predecessor): |  | $ | 115 |  |  | $ | 17 |  |  | $ | 132 |
Impairment |  |  | (77 | ) |  |  | - |  |  |  | (77 | )
Currency translation adjustments |  |  | 1 |  |  |  | - |  |  |  | 1 |
Balance as of August 31, 2013 (Predecessor): |  | $ | 39 |  |  | $ | 17 |  |  | $ | 56 |
Impact of fresh start accounting |  | $ | 22 |  |  | $ | 10 |  |  | $ | 32 |
Balance as of December 31, 2013 (Successor): |  | $ | 61 |  |  | $ | 27 |  |  | $ | 88 |
Cumulative Impact of Fresh Start Adjustments [Table Text Block] |
(in millions) |  |  |
Establishment of Successor goodwill |  | $ | 88 |
Elimination of Predecessor goodwill |  |  | (56 | )
Establishment of Successor intangibles |  |  | 235 |
Elimination of Predecessor intangibles |  |  | (43 | )
Inventory fair value adjustment |  |  | 67 |
Property, plant & equipment fair value adjustment |  |  | 220 |
Pension and other postretirement obligations fair value adjustment |  |  | (178 | )
Rights offering fair value adjustment |  |  | (73 | )
Long-term debt fair value adjustment |  |  | (11 | )
Other assets and liabilities fair value adjustments |  |  | 53 |
Net gain on fresh start adjustments |  |  | 302 |
Tax impact on fresh start adjustments |  |  | (69 | )
Elimination of Predecessor accumulated other comprehensive loss |  |  | (1,008 | )
Net impact on Retained earnings (deficit) |  | $ | (775 | )
Reorganization and Fresh Start Adjustments [Member] |
Note 3 - Fresh Start Accounting (Tables) [Line Items] |
Condensed Balance Sheet [Table Text Block] |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Predecessor Company (a) |  |  | Reorganization Adjustments |  |  |  |  | Fresh Start Adjustments |  |  |  |  | Successor Company |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,070 |  |  | $ | (172 | ) | (1 | ) |  | $ | - |  |  |  |  | $ | 898 |
Restricted cash |  |  | 24 |  |  |  | 98 |  | (2 | ) |  |  | - |  |  |  |  |  | 122 |
Receivables, net |  |  | 492 |  |  |  | - |  |  |  |  |  | - |  |  |  |  |  | 492 |
Inventories, net |  |  | 435 |  |  |  | - |  |  |  |  |  | 67 |  | (21 | ) |  |  | 502 |
Assets held for sale |  |  | 109 |  |  |  | - |  |  |  |  |  | 8 |  | (22 | ) |  |  | 117 |
Other current assets |  |  | 77 |  |  |  | 8 |  | (3 | ) |  |  | (42 | ) | (23 | ) |  |  | 42 |
|  |  |  |  |  |  | (1 | ) | (4 | ) |  |  |  |  |  |  |  |  |  |
Total current assets |  |  | 2,207 |  |  |  | (67 | ) |  |  |  |  | 33 |  |  |  |  |  | 2,173 |
Property, plant & equipment, net |  |  | 507 |  |  |  | - |  |  |  |  |  | 220 |  | (24 | ) |  |  | 727 |
Goodwill |  |  | 56 |  |  |  | - |  |  |  |  |  | 32 |  | (25 | ) |  |  | 88 |
Intangible assets, net |  |  | 43 |  |  |  | - |  |  |  |  |  | 192 |  | (26 | ) |  |  | 235 |
Deferred income taxes |  |  | 22 |  |  |  | (21 | ) | (3 | ) |  |  | 55 |  | (23 | ) |  |  | 56 |
Other long-term assets |  |  | 202 |  |  |  | 15 |  | (5 | ) |  |  | (26 | ) | (27 | ) |  |  | 184 |
|  |  |  |  |  |  | 8 |  | (6 | ) |  |  | (8 | ) | (28 | ) |  |  |  |
|  |  |  |  |  |  | (8 | ) | (7 | ) |  |  | 1 |  | (29 | ) |  |  |  |
TOTAL ASSETS |  | $ | 3,037 |  |  | $ | (73 | ) |  |  |  | $ | 499 |  |  |  |  | $ | 3,463 |
LIABILITIES AND EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, trade |  | $ | 317 |  |  | $ | 6 |  | (8 | ) |  | $ | - |  |  |  |  | $ | 339 |
|  |  |  |  |  |  | 3 |  | (9 | ) |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 13 |  | (10 | ) |  |  |  |  |  |  |  |  |  |
Short-term borrowings and current portion of long-term debt |  |  | 681 |  |  |  | (641 | ) | (11 | ) |  |  | - |  |  |  |  |  | 44 |
|  |  |  |  |  |  | 4 |  | (12 | ) |  |  |  |  |  |  |  |  |  |
Other current liabilities |  |  | 600 |  |  |  | (17 | ) | (13 | ) |  |  | (8 | ) | (30 | ) |  |  | 586 |
|  |  |  |  |  |  | (13 | ) | (3 | ) |  |  | (14 | ) | (29 | ) |  |  |  |
|  |  |  |  |  |  | 38 |  | (14 | ) |  |  |  |  |  |  |  |  |  |
Liabilities held for sale |  |  | 45 |  |  |  | - |  |  |  |  |  | (3 | ) | (22 | ) |  |  | 42 |
Total current liabilities |  |  | 1,643 |  |  |  | (607 | ) |  |  |  |  | (25 | ) |  |  |  |  | 1,011 |
Long-term debt, net of current portion |  |  | 370 |  |  |  | (370 | ) | (15 | ) |  |  | 11 |  | (31 | ) |  |  | 676 |
|  |  |  |  |  |  | 665 |  | (16 | ) |  |  |  |  |  |  |  |  |  |
Pension and other postretirement liabilities |  |  | 411 |  |  |  | 156 |  | (17 | ) |  |  | 178 |  | (29 | ) |  |  | 745 |
Other long-term liabilities |  |  | 318 |  |  |  | 61 |  | (17 | ) |  |  | 82 |  | (23 | ) |  |  | 408 |
|  |  |  |  |  |  |  |  |  |  |  |  | (53 | ) | (32 | ) |  |  |  |
Liabilities subject to compromise |  |  | 2,475 |  |  |  | (2,475 | ) | (17 | ) |  |  | - |  |  |  |  |  | - |
Total liabilities |  |  | 5,217 |  |  |  | (2,570 | ) |  |  |  |  | 193 |  |  |  |  |  | 2,840 |
Equity (Deficit) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock (Successor) |  |  | - |  |  |  | - |  | (18 | ) |  |  | - |  |  |  |  |  | - |
Additional paid in capital (Successor) |  |  | - |  |  |  | 540 |  | (18 | ) |  |  | 73 |  | (33 | ) |  |  | 613 |
Common stock (Predecessor) |  |  | 978 |  |  |  | (978 | ) | (19 | ) |  |  | - |  |  |  |  |  | - |
Additional paid in capital (Predecessor) |  |  | 1,105 |  |  |  | (1,105 | ) | (19 | ) |  |  | - |  |  |  |  |  | - |
Retained earnings (deficit) |  |  | 2,446 |  |  |  | (1,671 | ) | (20 | ) |  |  | (775 | ) | (34 | ) |  |  | - |
Accumulated other comprehensive loss |  |  | (1,008 | ) |  |  | - |  |  |  |  |  | 1,008 |  | (34 | ) |  |  | - |
|  |  | 3,521 |  |  |  | (3,214 | ) |  |  |  |  | 306 |  |  |  |  |  | 613 |
Less: Treasury stock (Predecessor) |  |  | (5,711 | ) |  |  | 5,711 |  | (19 | ) |  |  | - |  |  |  |  |  | - |
Total Eastman Kodak Company shareholders' (deficit) equity |  |  | (2,190 | ) |  |  | 2,497 |  |  |  |  |  | 306 |  |  |  |  |  | 613 |
Noncontrolling interests |  |  | 10 |  |  |  | - |  |  |  |  |  | - |  |  |  |  |  | 10 |
Total equity (deficit) |  |  | (2,180 | ) |  |  | 2,497 |  |  |  |  |  | 306 |  |  |  |  |  | 623 |
TOTAL LIABILITIES AND EQUITY (DEFICIT) |  | $ | 3,037 |  |  | $ | (73 | ) |  |  |  | $ | 499 |  |  |  |  | $ | 3,463 |
Schedule of Goodwill [Table Text Block] |
|  | Successor |
(in millions) |  | As of September 1, 2013 |
Reorganization value of Successor assets |  |  | 3,463 |
Less: Fair value of Successor assets (excluding goodwill) |  |  | 3,375 |
Reorganization value of Successor assets in excess of fair value - Successor goodwill |  | $ | 88 |
As of August 31, 2013 and Fair Value at September 1, 2013 [Member] |
Note 3 - Fresh Start Accounting (Tables) [Line Items] |
Schedule of Inventory, Current [Table Text Block] |
|  | Successor |  |  | Predecessor |
(in millions) |  | As of September 1, 2013 |  |  | As of August 31, 2013 |
Finished goods |  | $ | 280 |  |  | $ | 235 |
Work in process |  |  | 120 |  |  |  | 99 |
Raw materials |  |  | 102 |  |  |  | 101 |
Total |  | $ | 502 |  |  | $ | 435 |
Property, Plant and Equipment [Table Text Block] |
|  | Successor |  |  | Predecessor |
(in millions) |  | As of September 1, 2013 |  |  | As of August 31, 2013 |
Land |  | $ | 114 |  |  | $ | 35 |
Buildings and building improvements |  |  | 180 |  |  |  | 189 |
Machinery and equipment |  |  | 402 |  |  |  | 252 |
Construction in progress |  |  | 31 |  |  |  | 31 |
Total |  | $ | 727 |  |  | $ | 507 |

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