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Note 11 - Leases | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Leases | NOTE 11: LEASES Kodak as lessee The table below presents the lease-related assets and liabilities on the balance sheet:
|  | Classification in the |  | December 31, |
(in millions) |  | Consolidated Statement of Financial Position |  | 2019 |
Assets |  |  |  |  |  |
Operating lease assets |  | Operating lease right-of-use assets |  | $ | 49 |
Finance lease assets |  | Property, plant and equipment, net |  |  | 5 |
Total lease assets |  |  |  | $ | 54 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Current portion of operating leases |  | $ | 12 |
Finance |  | Short-term borrowings and current portion of long-term debt |  |  | 1 |
Noncurrent |  |  |  |  |  |
Operating |  | Operating leases, net of current portion |  |  | 48 |
Finance |  | Long-term debt, net of current portion |  |  | 4 |
Total lease liabilities |  |  |  | $ | 65 |
Weighted-average remaining lease term |  |  |  |
Operating |  |  |  | 7 years |
Finance (1) |  |  |  | 338 years |
Weighted-average discount rate |  |  |  |
Operating (2) |  |  |  |  | 14.12 | %
Finance |  |  |  |  | 6.79 | %
| (1) | One finance lease has a remaining term of 968 years. The weighted-average lease term excluding the lease with a remaining term of 968 years is 4 years.
| (2) | Upon adoption of ASC 842, Kodak’s incremental borrowing rate of 16.50% as of January 1, 2019 was used for existing operating leases.
Lease Costs The table below presents certain information related to the lease expense for finance and operating leases. Lease expense is presented gross of sublease income. See “Kodak as Lessor” section below for income from subleases.
|  | Year Ended |
|  | December 31, |
(in millions) |  | 2019 |
Finance lease expense |  |  |  |
Amortization of leased assets |  | $ | 3 |
Interest on lease liabilities |  |  | — |
Operating lease expense |  |  | 25 |
Variable lease expense (1) |  |  | 10 |
Total lease expense |  | $ | 38 |
| (1) | Variable lease expense is related to real estate leases and primarily includes taxes, insurance and operating costs.
Other Information The table below presents supplemental cash flow information related to leases.
|  | Year Ended |
|  | December 31, |
(in millions) |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows for operating leases |  | $ | 25 |
Operating cash flow for finance leases |  |  | — |
Financing cash flow for finance leases |  |  | 2 |
|  | $ | 27 |
Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for the next five years and thereafter to the finance lease liabilities and operating lease liabilities recorded on the balance sheet.
(in millions) |  | Operating Leases |  |  | Finance Leases |
2020 |  | $ | 21 |  |  | $ | 1 |
2021 |  |  | 15 |  |  |  | 1 |
2022 |  |  | 17 |  |  |  | 1 |
2023 |  |  | 9 |  |  |  | — |
2024 |  |  | 8 |  |  |  | — |
Thereafter |  |  | 28 |  |  |  | 117 |
Total minimum lease payments |  |  | 98 |  |  |  | 120 |
Less: amount of lease payments representing interest |  |  | (38 | ) |  |  | (115 | )
Present value of future minimum lease payments |  |  | 60 |  |  |  | 5 |
Less: current obligations under leases |  |  | 12 |  |  |  | 1 |
Long-term lease obligations |  | $ | 48 |  |  | $ | 4 |
Prior Period Disclosures under ASC 840 For the year ended December 31, 2018, operating lease expense was $21 million, net of sublease income of $7 million. Future minimum contractual lease payments for operating leases having initial or remaining noncancelable lease terms in excess of one year as of December 31, 2018 were as follows:
(in millions) |  | At December 31, 2018 |
2019 |  | $ | 20 |
2020 |  |  | 21 |
2021 |  |  | 13 |
2022 |  |  | 3 |
2023 |  |  | 3 |
Thereafter |  |  | 7 |
|  | $ | 67 |
Kodak as Lessor Kodak’s net investment in sales-type leases as of December 31, 2019 was $4 million. The current portion of the net investment in sales-type leases is included in Trade receivables in the Consolidated Statement of Financial Position. The portion of the net investment in sales-type leases due after one year is included in Other long-term assets. The table below reconciles the undiscounted cash flows to be received for the next five years and thereafter to the net investment in sales-type leases recorded in the Consolidated Statement of Financial Position:
(in millions) |  |  |  |
2020 |  | $ | 2 |
2021 |  |  | 1 |
2022 |  |  | 1 |
2023 and thereafter |  |  | — |
Total minimum lease payments |  |  | 4 |
Less: unearned interest |  |  | — |
Less: allowance for doubtful accounts |  |  | — |
Net investment in sales-type leases |  | $ | 4 |
Undiscounted cash flows to be received for the next five years and thereafter for operating leases and subleases are:
(in millions) |  |  |  |
2020 |  | $ | 10 |
2021 |  |  | 8 |
2022 |  |  | 6 |
2023 |  |  | 5 |
2024 |  |  | 4 |
Thereafter |  |  | 14 |
Total minimum lease payments |  | $ | 47 |
Income recognized on operating lease arrangements for the year ended December 31, 2019 is presented below (income recognized for sales-type lease arrangements is $0 million):
|  | Year Ended |
|  | December 31, |
(in millions) |  | 2019 |
Lease income - operating leases: |  |  |  |
Lease income |  | $ | 9 |
Sublease income |  |  | 6 |
Variable lease income (1) |  |  | 6 |
Total lease income |  | $ | 21 |
| (1) | Variable lease income primarily represents operating costs under real estate leases and incremental variable income based on usage under equipment leases.
Equipment subject to operating leases and the related accumulated depreciation were as follows:
|  | As of December 31, |
(in millions) |  | 2019 |  |  | 2018 |
Equipment subject to operating leases |  | $ | 29 |  |  | $ | 34 |
Accumulated depreciation |  |  | (20 | ) |  |  | (19 | )
Equipment subject to operating leases, net |  | $ | 9 |  |  | $ | 15 |
Equipment subject to operating leases, net is included in Property, plant and equipment, net in the Consolidated Statement of Financial Position.

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- Definition Leases as lessee and lessor. + References No definition available. + Details
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Namespace Prefix: | kodk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration