XML 20 R9.htm IDEA: XBRL DOCUMENT v3.19.2
Note 2 - Cash, Cash Equivalents and Restricted Cash
6 Months Ended
Jun. 30, 2019
Cash And Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Restricted Cash

NOTE 2: CASH, CASH EQUIVALENTS AND RESTRICTED CASH

 

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Statement of Financial Position that sums to the total of such amounts shown in the Statement of Cash Flows:

 

 

 

June 30,

 

 

December 31,

 

(in millions)

 

2019

 

 

2018

 

Cash and cash equivalents

 

$

216

 

 

$

246

 

Restricted cash included in Other current assets

 

 

23

 

 

 

8

 

Long-term restricted cash

 

 

19

 

 

 

11

 

Cash included in assets held for sale

 

 

 

 

 

2

 

Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows

 

$

258

 

 

$

267

 

 

Restricted cash included in Other current assets on the Statement of Financial Position primarily includes collateral for a guaranty provided to MIR Bidco, SA (the “Purchaser”) and collateral in support of hedging activities.  On April 16, 2019 the Purchaser of FPD paid Kodak $15 million in the U.S. as a prepayment for transition services and products and services to be provided by Kodak to the Purchaser.  Kodak provided a $15 million guaranty, supported by cash collateral in China, to the Purchaser.  The Purchaser has the option to satisfy its payment obligations to Kodak through a reduction of the prepayment balance or in cash.  When the Purchaser satisfies its payment obligations to Kodak by utilizing its prepayment balance, Kodak can follow a guaranty amendment process to reduce the amount of its guaranty and cash collateral supporting the prepayment balance.  As of June 30, 2019, the remaining prepayment balance is $13 million and the cash collateral supporting Kodak’s guaranty is $15 million.    

 

Long-term restricted cash includes $4 million and $5 million of security posted related to Brazilian legal contingencies as of June 30, 2019 and December 31, 2018, respectively.  Long-term restricted cash also includes $11 million and $3 million as of June 30, 2019 and December 31, 2018, respectively, supporting compliance with the Excess Availability threshold under the ABL Credit Agreement, as defined below.