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Note 20 - Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2019

Table [Text Block]

Schedule of Changes in Projected Benefit Obligations

The measurement date used to determine the pension obligation for all funded and unfunded U.S. and Non-U.S. defined benefit plans is December 31.

		Year Ended December 31, 2019								Year Ended December 31, 2018
(in millions)		U.S.				Non-U.S.				U.S.				Non-U.S.
Change in Benefit Obligation
Projected benefit obligation at beginning of period		$	3,405			$	834			$	3,866			$	885
Service cost			10				3				13				3
Interest cost			122				13				109				12
Benefit payments			(349	)			(48	)			(414	)			(50	)
Actuarial loss (gain)			284				36				(174	)			—
Special termination benefits			3				—				5				—
Currency adjustments			—				(4	)			—				(16	)
Projected benefit obligation at end of period		$	3,475			$	834			$	3,405			$	834
Change in Plan Assets
Fair value of plan assets at beginning of period		$	3,445			$	671			$	3,804			$	722
Gain on plan assets			514				28				55				5
Employer contributions			—				10				—				4
Benefit payments			(349	)			(48	)			(414	)			(50	)
Currency adjustments			—				—				—				(10	)
Fair value of plan assets at end of period		$	3,610			$	661			$	3,445			$	671
Over (under) funded status at end of period		$	135			$	(173	)		$	40			$	(163	)
Accumulated benefit obligation at end of period		$	3,474			$	825			$	3,403			$	824

Amounts Recognized in Consolidated Statement of Financial Position

Amounts recognized in the Consolidated Statement of Financial Position for all major funded and unfunded U.S. and Non-U.S. defined benefit plans are as follows (in millions):

		As of December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Other long-term assets		$	135			$	26			$	40			$	32
Pension and other postretirement liabilities			—				(199	)			—				(195	)
Net amount recognized		$	135			$	(173	)		$	40			$	(163	)

Major Funded and Unfunded Defined Benefit Plans With Projected Benefit Obligation in Excess of Plan Assets

Information with respect to the major funded and unfunded U.S. and Non-U.S. defined benefit plans with a projected benefit obligation in excess of plan assets is as follows (in millions):

`		As of December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Projected benefit obligation		$	—			$	568			$	—			$	578
Fair value of plan assets			—				368				—				382

Major Funded and Unfunded Defined Benefit Plans With Accumulated Benefit Obligation in Excess of Plan Assets

Information with respect to the major funded and unfunded U.S. and Non-U.S. defined benefit plans with an accumulated benefit obligation in excess of plan assets is as follows (in millions):

		As of December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Accumulated benefit obligation		$	—			$	559			$	—			$	568
Fair value of plan assets			—				368				—				382

Amounts Recognized in Accumulated Other Comprehensive Loss For All Major Funded and Unfunded Defined Benefit Plans

Amounts recognized in accumulated other comprehensive (loss) income for all major funded and unfunded U.S. and Non-U.S. defined benefit plans consist of (in millions):

		As of December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Prior service credit		$	20			$	3			$	27			$	3
Net actuarial loss			(244	)			(151	)			(258	)			(126	)
Total		$	(224	)		$	(148	)		$	(231	)		$	(123	)

Changes in Major Plan Assets and Benefit Recognized in Other Comprehensive Income (Loss)

Other changes in major plan assets and benefit obligations recognized in Other comprehensive income (expense) are as follows (in millions):

		Year Ended December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Newly established gain (loss)		$	16			$	(30	)		$	6			$	(21	)
Amortization of:
Prior service credit			(7	)			—				(7	)			—
Net actuarial loss			—				5				5				5
Curtailment gain recognized in expense			(2	)			—				—				—
Total income (loss) recognized in Other    comprehensive income		$	7			$	(25	)		$	4			$	(16	)

Pension Income From Continuing Operations For All Defined Benefit Plans

Pension income for all defined benefit plans included (in millions):

		Year Ended December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Major defined benefit plans:
Service cost		$	10			$	3			$	13			$	3
Interest cost			122				13				109				12
Expected return on plan assets			(214	)			(22	)			(223	)			(26	)
Amortization of:
Prior service credit			(7	)			—				(7	)			—
Actuarial loss			—				5				5				5
Pension income before special termination    benefits			(89	)			(1	)			(103	)			(6	)
Special termination benefits			3				—				5				—
Curtailment gains			(2	)			—				—				—
Net pension income for major    defined benefit plans			(88	)			(1	)			(98	)			(6	)
Other plans including unfunded plans			—				(3	)			—				(4	)
Net pension income		$	(88	)		$	(4	)		$	(98	)		$	(10	)

Weighted-average Assumptions Used to Determine Benefit Obligation Amounts

The weighted-average assumptions used to determine the benefit obligation amounts for all major funded and unfunded U.S. and Non-U.S. defined benefit plans were as follows:

		Year Ended December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Discount rate			2.97	%			1.44	%			4.04	%			2.05	%
Salary increase rate			3.50	%			1.72	%			3.50	%			2.06	%

Weighted-average Assumptions Used to Determine Net Pension (Income) Expenses

The weighted-average assumptions used to determine net pension (income) expense for all the major funded and unfunded U.S. and Non-U.S. defined benefit plans were as follows:

		Year Ended December 31,
		2019								2018
		U.S.				Non-U.S.				U.S.				Non-U.S.
Effective rate for service cost			4.03	%			2.47	%			3.33	%			2.32	%
Effective rate for interest cost			3.75	%			1.89	%			2.96	%			1.70	%
Salary increase rate			3.50	%			2.06	%			3.50	%			2.17	%
Expected long-term rate of return on    plan assets			6.50	%			3.46	%			6.40	%			3.98	%

Weighted-average Asset Allocation By Assets Category

The Company’s weighted-average asset allocations for its major U.S. defined benefit pension plans by asset category, are as follows:

		As of December 31,
		2019				2018				2019 Target
Asset Category
Equity securities			10	%			11	%		7-13%
Debt securities			44	%			40	%		35-45%
Real estate			1	%			2	%		0-6%
Cash and cash equivalents			1	%			1	%		0-6%
Global balanced asset allocation funds			15	%			13	%		12-18%
Other			29	%			33	%		27-39%
Total			100	%			100	%

Kodak’s weighted-average asset allocations for its major Non-U.S. defined benefit pension plans by asset category, are as follows:

		As of December 31,
		2019				2018				2019 Target
Asset Category
Equity securities			5	%			3	%		0-10%
Debt securities			31	%			33	%		30-40%
Real estate			2	%			1	%		0-6%
Cash and cash equivalents			2	%			2	%		0-6%
Global balanced asset allocation funds			5	%			4	%		0-10%
Other			55	%			57	%		55-65%
Total			100	%			100	%

Fair Value Measurement of Plan Assets

Major U.S. Plans

December 31, 2019

		U.S.
(in millions)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Measured at NAV				Total
Cash and cash equivalents		$	—			$	—			$	—			$	38			$	38
Equity Securities			4				—				—				374				378
Debt Securities:
Government Bonds			—				—				—				1,110				1,110
Investment Grade Bonds			—				457				—				—				457
Real Estate			—				—				—				42				42
Global Balanced Asset Allocation Funds			—				—				—				544				544
Other:
Absolute Return			—				—				—				370				370
Private Equity			—				—				7				680				687
Derivatives with unrealized gains			2				—				—				—				2
Derivatives with unrealized losses			(18	)			—				—				—				(18	)
		$	(12	)		$	457			$	7			$	3,158			$	3,610

Major U.S. Plans

December 31, 2018

		U.S.
(in millions)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Measured at NAV				Total
Cash and cash equivalents		$	—			$	—			$	—			$	50			$	50
Equity Securities			4				—				—				364				368
Debt Securities:
Government Bonds			—				—				—				1,005				1,005
Investment Grade Bonds			—				391				—				—				391
Real Estate			—				—				—				57				57
Global Balanced Asset Allocation Funds			—				—				—				438				438
Other:
Absolute Return			—				—				—				431				431
Private Equity			—				—				6				659				665
Derivatives with unrealized gains			46				—				—				—				46
Derivatives with unrealized losses			(6	)			—				—				—				(6	)
		$	44			$	391			$	6			$	3,004			$	3,445

Major Non-U.S. Plans

December 31, 2019

		Non - U.S.
(in millions)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Measured at NAV				Total
Cash and cash equivalents		$	5			$	—			$	—			$	8			$	13
Equity Securities			—				—				—				33				33
Debt Securities:
Government Bonds			—				—				—				51				51
Inflation-Linked Bonds			—				—				—				4				4
Investment Grade Bonds			—				61				—				65				126
Global High Yield & Emerging Market Debt			—				—				—				26				26
Real Estate			—				—				—				11				11
Global Balanced Asset Allocation Funds			—				—				—				34				34
Other:
Absolute Return			—				—				—				7				7
Private Equity			—				—				—				38				38
Insurance Contracts			—				317				—				—				317
Derivatives with unrealized gains			1				—				—				—				1
Derivatives with unrealized losses			—				—				—				—				—
		$	6			$	378			$	—			$	277			$	661

Major Non-U.S. Plans

December 31, 2018

		Non - U.S.
(in millions)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Measured at NAV				Total
Cash and cash equivalents		$	8			$	—			$	—			$	5			$	13
Equity Securities			—				—				—				21				21
Debt Securities:
Government Bonds			—				—				—				53				53
Inflation-Linked Bonds			—				—				—				4				4
Investment Grade Bonds			—				66				—				68				134
Global High Yield & Emerging Market Debt			—				—				—				28				28
Real Estate			—				—				—				9				9
Global Balanced Asset Allocation Funds			—				—				—				27				27
Other:
Absolute Return			—				—				—				7				7
Private Equity			—				—				—				42				42
Insurance Contracts			—				333				—				—				333
Derivatives with unrealized gains			1				—				—				—				1
Derivatives with unrealized losses			(1	)			—				—				—				(1	)
		$	8			$	399			$	—			$	264			$	671

Reconciliation of Beginning and Ending Balances of Assets Measured With Significant Unobservable Inputs

The following is a reconciliation of the beginning and ending balances of level 3 assets of Kodak’s major U.S. defined benefit pension plans:

		U.S.
						Net Realized and Unrealized Gains
(in millions)		Balance at January 1, 2019				Relating to Assets Still Held				Relating to Assets Sold During the Period				Net Purchases, Sales and Settlements				Balance at December 31, 2019
Private Equity			6				2				—				(1	)			7
Total		$	6			$	2			$	—			$	(1	)		$	7

		U.S.
						Net Realized and Unrealized Gains
(in millions)		Balance at January 1, 2018				Relating to Assets Still Held				Relating to Assets Sold During the Period				Net Purchases, Sales and Settlements				Balance at December 31, 2018
Real Estate		$	26			$	—			$	14			$	(40	)		$	—
Private Equity			14				1				—				(9	)			6
Total		$	40			$	1			$	14			$	(49	)		$	6

Pension Benefit Payments Which Reflects Future Services Expected to Be Paid From the Plans

The following pension benefit payments, which reflect expected future service, are expected to be paid (in millions):

		U.S.				Non-U.S.
2020		$	308			$	48
2021			295				47
2022			283				46
2023			272				46
2024			261				45
2025 - 2029			1,134				205

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