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Note 17 - Discontinued Operations | 3 Months Ended
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Mar. 31, 2016
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 17: DISCONTINUED OPERATIONS KODAK PROSPER Enterprise Inkjet Business In March 2016 Kodak announced that it is in talks with prospective buyers about offers to purchase its KODAK PROSPER Enterprise Inkjet business (the “Business”). The results of operations of the Business are classified as discontinued operations in the Consolidated Statement of Operations for all periods presented. Additionally, the related assets and liabilities associated with the Business are classified as held for sale in the Consolidated Statement of Financial Position as of March 31, 2016 and December 31, 2015. Kodak anticipates the sale may take up to a year to complete. The results of operations of the Business are presented in the following table:
|  | Three Months Ended March 31, |
(in millions) |  | 2016 |  |  | 2015 |
Revenues |  | $ | 14 |  |  | $ | 16 |
Cost of sales |  |  | 12 |  |  |  | 23 |
Selling, general and administrative expenses |  |  | 5 |  |  |  | 6 |
Research and development expenses |  |  | 6 |  |  |  | 5 |
Loss from discontinued operations, before income taxes |  |  | (9 | ) |  |  | (18 | )
Provision (benefit) for income taxes |  |  | 1 |  |  |  | (1 | )
Loss from discontinued operations, net of income taxes |  | $ | (10 | ) |  | $ | (17 | )
Loss from discontinued operations for the three months ended March 31, 2016 in the Consolidated Statement of Operations also included $1 million associated with discontinued operations of the Personalized Imaging and Document Imaging Business. The following table presents the aggregate carrying amount of major assets and liabilities of the Business:
(in millions) |  | March 31, 2016 |  |  | December 31, 2015 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | - |  |  | $ | 1 |
Receivables, net |  |  | 13 |  |  |  | 19 |
Inventories, net |  |  | 52 |  |  |  | 51 |
Property, plant and equipment, net |  |  | 36 |  |  |  | 32 |
Intangible assets, net |  |  | 38 |  |  |  | 39 |
Assets of business held for sale |  | $ | 139 |  |  | $ | 142 |
LIABILITIES |  |  |  |  |  |  |  |
Accounts payable, trade |  | $ | 6 |  |  | $ | 9 |
Current portion of long-term debt |  |  | - |  |  |  | 1 |
Other current liabilities |  |  | 20 |  |  |  | 12 |
Long-term debt, net of current portion |  |  | 2 |  |  |  | 2 |
Other long-term liabilities |  |  | 4 |  |  |  | 5 |
Liabilities of business held for sale |  | $ | 32 |  |  | $ | 29 |
Intercompany liabilities between a dedicated entity of the Business and Kodak of approximately $5 million as of March 31, 2016 that are part of the proposed transaction are not reflected in the table above as these amounts have been eliminated in deriving the consolidated financial statements. There were no intercompany amounts that are part of the proposed transaction as of December 31, 2015. Current assets held for sale as of March 31, 2016 and December 31, 2015 in the Consolidated Statement of Financial Position also included $2 million from assets under contract for sale not associated with the Business. The following table presents cash flow information associated with the Business:
|  | Three Months Ended March 31, |
(in millions) |  | 2016 |  |  | 2015 |
Depreciation |  |  | 2 |  |  |  | 1 |
Amortization |  |  | 1 |  |  |  | 1 |
Capital expenditures |  |  | 1 |  |  |  | - |
Depreciation and amortization of long-lived assets of the Business included in discontinued operations ceased on April 1, 2016. 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 related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 6: 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=64862545&loc=d3e2941-110230 Reference 7: 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=64827811&loc=d3e1361-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 Reference 12: 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=64827811&loc=d3e1474-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 + Details
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