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Note 26 - Discontinued Operations | 12 Months Ended
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Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 26: DISCONTINUED OPERATIONS On the Effective Date, as a part of the Global Settlement and pursuant to the Amended SAPA, Kodak consummated the sale of certain assets of the Business to the KPP Purchasing Parties for net cash consideration, in addition to the assumption by the KPP Purchasing Parties of certain liabilities of the Business, of $325 million. Up to $35 million in aggregate of the purchase price is subject to repayment to KPP if the Business does not achieve certain annual adjusted EBITDA targets over the four-year period ending December 31, 2018. Certain assets and liabilities of the Business in certain jurisdictions were not transferred at the initial closing, which took place on the Effective Date, but are being transferred at a series of deferred closings in accordance with the Amended SAPA. Kodak is operating the Business related to the deferred closing jurisdictions, subject to certain covenants, until the applicable deferred closing occurs, and delivers to (or receives from) a KPP subsidiary at each deferred closing a true-up payment reflecting the actual economic benefit (or detriment) to the Business in the applicable deferred closing jurisdiction(s) from the time of the initial closing through the time of the applicable deferred closing. Up to the time of the deferred closing, the results of the operations of the Business are being reported as Earnings (loss) from discontinued operations, net of income taxes in the Consolidated Statement of Operations and the assets and liabilities of the Business are being categorized as Assets held for sale or Liabilities held for sale in the Consolidated Statement of Financial Position, as appropriate. Kodak recognized a pre-tax loss on the sale of the Business of approximately $163 million during the third quarter 2013 predecessor period. The pre-tax loss excluded recognition of $64 million of non-refundable consideration related to the delayed closings, which non-refundable consideration was received on the Effective Date, and $35 million of contingent consideration, subject to repayment to KPP which was also received by Kodak on the Effective Date. The pre-tax loss includes the recognition of approximately $1.5 billion of unamortized pension losses previously reported in accumulated other comprehensive income. On March 17, 2014 the KPP Purchasing Parties agreed to pay Kodak $20 million of incremental consideration ($13 million in March 2014 and the remainder within one year of March 2014) in lieu of working capital adjustments contemplated by the Amended SAPA. The following table summarizes the major classes of assets and liabilities related to the disposition of the Business which have been segregated and included in assets held for sale and liabilities held for sale in the Consolidated Statement of Financial Position:
|  | Successor |  |  | Predecessor |
|  | As of December 31, 2013 |  |  | As of December 31, 2012 |
Receivables, net |  | $ | 16 |  |  | $ | 180 |
Inventories, net |  |  | 62 |  |  |  | 123 |
Property, plant and equipment, net |  |  | 10 |  |  |  | 86 |
Goodwill |  |  | - |  |  |  | 146 |
Other assets |  |  | 7 |  |  |  | 43 |
Current assets held for sale |  | $ | 95 |  |  | $ | 578 |
Trade payables |  | $ | 24 |  |  | $ | 77 |
Miscellaneous payables and accruals |  |  | 14 |  |  |  | 159 |
Pension liabilities |  |  | - |  |  |  | 1,525 |
Other liabilities |  |  | - |  |  |  | 12 |
Liabilities subject to compromise |  |  | - |  |  |  | 8 |
Current liabilities held for sale |  | $ | 38 |  |  | $ | 1,781 |
Discontinued operations of Kodak include the Business (excluding the consumer film business, for which Kodak has entered into an ongoing supply arrangement with one or more KPP Purchasing Parties), digital capture and devices business (exited in the third quarter of 2012), Kodak Gallery (exited in the third quarter of 2012), and other miscellaneous businesses. The significant components of revenues and earnings (loss) from discontinued operations, net of income taxes are as follows:
|  | Successor |  |  | Predecessor |
|  | Four Months Ended December 31, 2013 |  |  | Eight Months Ended August 31, 2013 |  |  | Year Ended December 31, 2012 |  |  | Year Ended December 31, 2011 |
(in millions) |  |  |  |  |  |  |  |  |  |  |  |
Revenues from Personalized and Document Imaging |  | $ | 77 |  |  | $ | 738 |  |  | $ | 1,350 |  |  | $ | 1,508 |
Revenues from Digital Capture and Devices operations |  |  | - |  |  |  | 6 |  |  |  | 36 |  |  |  | 659 |
Revenues from Kodak Gallery operations |  |  | - |  |  |  | - |  |  |  | 29 |  |  |  | 85 |
Revenues from other discontinued operations |  |  | 1 |  |  |  | 17 |  |  |  | 50 |  |  |  | 185 |
Total revenues from discontinued operations |  | $ | 78 |  |  | $ | 761 |  |  | $ | 1,465 |  |  | $ | 2,437 |
Pre-tax earnings (loss) from Personalized and Document Imaging |  | $ | 5 |  |  | $ | (217 | ) |  | $ | 51 |  |  | $ | 53 |
Pre-tax earnings (loss) from Digital Capture and Devices operations |  |  | 1 |  |  |  | 2 |  |  |  | (78 | ) |  |  | (54 | )
Pre-tax earnings (loss) from Kodak Gallery operations |  |  | - |  |  |  | 1 |  |  |  | 4 |  |  |  | (31 | )
Pre-tax (loss) earnings from other discontinued operations |  |  | - |  |  |  | (17 | ) |  |  | (7 | ) |  |  | 30 |
(Provision) benefit for income taxes related to discontinued operations |  |  | (2 | ) |  |  | 96 |  |  |  | (12 | ) |  |  | (23 | )
Earnings (loss) from discontinued operations, net of income taxes |  | $ | 4 |  |  | $ | (135 | ) |  | $ | (42 | ) |  | $ | (25 | )
Kodak was required to use a portion of the proceeds from the divestiture of the Business to repay $200 million of the Junior DIP Credit Agreement. Interest expense on the debt that was required to be repaid as a result of the sale of the Personalized Imaging and Document Imaging businesses has therefore been allocated to discontinued operations ($0 and $14 million for the four months ended December 31, 2013 and the eight months ended August 31, 2013, respectively, and $19 million and $17 million for the years ended December 31, 2012, and December 31, 2011, respectively). Depreciation and amortization of long-lived assets of the Personalized Imaging and Document Imaging businesses included in discontinued operations ceased as of July 1, 2013. Direct operating expenses of the discontinued operations are included in the results of discontinued operations. Indirect expenses that were historically allocated to the discontinued operations have been included in the results of continuing operations. Prior period results have been reclassified to conform to the current period presentation.

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 + Details
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