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Note 15 - Discontinued Operations | 9 Months Ended
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Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 15: DISCONTINUED OPERATIONS Upon emergence from bankruptcy, as a part of a settlement agreement between Eastman Kodak Company, the KPP Trustees Limited (“KPP” or the “Trustee”), as trustee for the U.K. Pension Plan, and certain other Kodak entities, Kodak consummated the sale of certain assets of Kodak’s Personalized Imaging and Document Imaging businesses (together the “Business”) to KPP Holdco Limited (“KPP Holdco”), a wholly owned subsidiary of KPP, and certain direct and indirect subsidiaries of KPP Holdco (together with KPP Holdco, 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, but were transferred in a series of deferred closings. The final deferred closing occurred in September 2015. Kodak operated the Business relating to the deferred closing jurisdiction, subject to certain covenants, until the applicable deferred closing occurred, and delivered to (or received 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 were reported as (Loss) earnings from discontinued operations, net of income taxes in the Consolidated Statement of Operations and the assets and liabilities of the Business were categorized as Assets held for sale or Liabilities held for sale in the Consolidated Statement of Financial Position, as appropriate. On March 17, 2014 the KPP Purchasing Parties agreed to pay Kodak $20 million of incremental consideration ($13 million was paid in March of 2014 and the remainder was paid in March 2015) in lieu of working capital adjustments contemplated by the settlement agreement. 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:
|  | As of |
(in millions) |  | September 30, 2015 |  |  | December 31, 2014 |
Inventories, net |  | $ | - |  |  | $ | 2 |
Property, plant and equipment, net |  |  | - |  |  |  | 4 |
Intangible assets and other |  |  | - |  |  |  | 6 |
Assets held for sale |  | $ | - |  |  | $ | 12 |
Trade payables |  | $ | - |  |  | $ | 1 |
Liabilities held for sale |  | $ | - |  |  | $ | 1 |
Discontinued operations of Kodak include the Business (excluding the consumer film business, for which Kodak entered into an ongoing supply arrangement with one or more KPP Purchasing Parties) and other miscellaneous businesses. The significant components of revenues and (loss) earnings from discontinued operations, net of income taxes, are as follows:
(in millions) |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Revenues from Personalized and Document Imaging |  | $ | - |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 60 |
Revenues from other discontinued operations |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |
Total revenues from discontinued operations |  | $ | - |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 61 |
Pre-tax (loss) earnings from Personalized and Document Imaging |  | $ | (5 | ) |  | $ | (9 | ) |  | $ | (5 | ) |  | $ | 10 |
Provision for income taxes related to discontinued operations |  |  | (3 | ) |  |  | (3 | ) |  |  | (3 | ) |  |  | (5 | )
(Loss) earnings from discontinued operations, net of income taxes |  | $ | (8 | ) |  | $ | (12 | ) |  | $ | (8 | ) |  | $ | 5 |
The $5 million in pre-tax loss recognized in Q3 2015 represents costs incurred in the final deferred closing.

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