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Note 13 - Revenue | 3 Months Ended
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Mar. 31, 2020
Revenue From Contract With Customer [Abstract] |
Revenue | NOTE 13: REVENUE Disaggregation of Revenue The following tables present revenue disaggregated by major product, portfolio summary and geography.
|  | Three Months Ended |
|  | March 31, 2020 |
(in millions) |  | Traditional Printing |  |  | Digital Printing |  |  | Advanced Materials and Chemicals |  |  | Brand |  |  | All Other |  |  | Total |
Plates, inks and other consumables |  | $ | 126 |  |  | $ | 18 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 146 |
Ongoing service arrangements (1) |  |  | 21 |  |  |  | 35 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 56 |
Total Annuities |  |  | 147 |  |  |  | 53 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 202 |
Equipment & Software |  |  | 7 |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19 |
Film and chemicals |  |  | — |  |  |  | — |  |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  | 38 |
Other (2) |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 3 |  |  |  | 3 |  |  |  | 8 |
Total |  | $ | 154 |  |  | $ | 65 |  |  | $ | 42 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 267 |
|  | Three Months Ended |
|  | March 31, 2019 |
(in millions) |  | Traditional Printing |  |  | Digital Printing |  |  | Advanced Materials and Chemicals |  |  | Brand |  |  | All Other |  |  | Total |
Plates, inks and other consumables |  | $ | 137 |  |  | $ | 21 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 162 |
Ongoing service arrangements (1) |  |  | 21 |  |  |  | 40 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 62 |
Total Annuities |  |  | 158 |  |  |  | 61 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 224 |
Equipment & Software |  |  | 8 |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19 |
Film and chemicals |  |  | — |  |  |  | — |  |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  | 38 |
Other (2) |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 3 |  |  |  | 2 |  |  |  | 10 |
Total |  | $ | 166 |  |  | $ | 72 |  |  | $ | 48 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 291 |
(1) | Service revenue in the Consolidated Statement of Operations includes the ongoing service revenue shown above as well as revenue from project-based document management and managed print services businesses, which is included in Other above.
(2) | Other includes revenue from professional services, non-recurring engineering services, print and managed media services, tenant rent and related property management services and licensing.
Product Portfolio Summary:
|  | Three Months Ended |
|  | March 31, 2020 |
(in millions) |  | Traditional Printing |  |  | Digital Printing |  |  | Advanced Materials and Chemicals |  |  | Brand |  |  | All Other |  |  | Total |
Growth engines (1) |  | $ | 44 |  |  | $ | 36 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 83 |
Strategic other businesses (2) |  |  | 110 |  |  |  | 15 |  |  |  | 39 |  |  |  | — |  |  |  | 3 |  |  |  | 167 |
Planned declining businesses (3) |  |  | — |  |  |  | 14 |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 17 |
|  | $ | 154 |  |  | $ | 65 |  |  | $ | 42 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 267 |
|  | Three Months Ended |
|  | March 31, 2019 |
(in millions) |  | Traditional Printing |  |  | Digital Printing |  |  | Advanced Materials and Chemicals |  |  | Brand |  |  | All Other |  |  | Total |
Growth engines (1) |  | $ | 39 |  |  | $ | 35 |  |  | $ | 2 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 79 |
Strategic other businesses (2) |  |  | 127 |  |  |  | 17 |  |  |  | 39 |  |  |  | — |  |  |  | 2 |  |  |  | 185 |
Planned declining businesses (3) |  |  | — |  |  |  | 20 |  |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | 27 |
|  | $ | 166 |  |  | $ | 72 |  |  | $ | 48 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 291 |
(1) | Growth engines consist of Sonora in the Traditional Printing segment, PROSPER and Software in the Digital Printing segment, brand licensing and Advanced Materials and Functional Printing in the Advanced Materials and Chemicals segment, excluding intellectual property (IP) licensing.
(2) | Strategic other businesses include plates in the Traditional Printing segment; Computer to Plate (“CTP”) equipment and related service and Nexpress and related toner business in the Digital Printing segment and Motion Picture and Industrial Film and Chemicals (including external inks) and IP licensing in the Advanced Materials and Chemicals segment.
(3) | Planned declining businesses are product lines where the decision has been made to stop new product development and manage an orderly expected decline in the installed product and annuity base or are otherwise not strategic to Kodak. These product families consist of Consumer Inkjet, Kodak Services for Business and Kodakit in the Advanced Materials and Chemicals segment and Versamark and Digimaster in the Digital Printing segment.
Geography (1):
|  | Three Months Ended |
|  | March 31, 2020 |
(in millions) |  | Traditional Printing |  |  | Digital Printing |  |  | Advanced Materials and Chemicals |  |  | Brand |  |  | All Other |  |  | Total |
United States |  | $ | 35 |  |  | $ | 28 |  |  | $ | 30 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 99 |
Canada |  |  | 3 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |
North America |  |  | 38 |  |  |  | 30 |  |  |  | 30 |  |  |  | 3 |  |  |  | 3 |  |  |  | 104 |
Europe, Middle East and Africa |  |  | 68 |  |  |  | 24 |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 95 |
Asia Pacific |  |  | 39 |  |  |  | 10 |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | 58 |
Latin America |  |  | 9 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10 |
Total Sales |  | $ | 154 |  |  | $ | 65 |  |  | $ | 42 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 267 |
|  | Three Months Ended |
|  | March 31, 2019 |
(in millions) |  | Traditional Printing |  |  | Digital Printing |  |  | Advanced Materials and Chemicals |  |  | Brand |  |  | All Other |  |  | Total |
United States |  | $ | 36 |  |  | $ | 39 |  |  | $ | 30 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 110 |
Canada |  |  | 2 |  |  |  | 1 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 4 |
North America |  |  | 38 |  |  |  | 40 |  |  |  | 31 |  |  |  | 3 |  |  |  | 2 |  |  |  | 114 |
Europe, Middle East and Africa |  |  | 72 |  |  |  | 20 |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | 96 |
Asia Pacific |  |  | 45 |  |  |  | 10 |  |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | 68 |
Latin America |  |  | 11 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13 |
Total Sales |  | $ | 166 |  |  | $ | 72 |  |  | $ | 48 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 291 |
| (1) | Sales are reported in the geographic area in which they originate.
Contract Balances The timing of revenue recognition, billings and cash collections results in billed trade receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the Consolidated Statement of Financial Position. The contract assets are transferred to trade receivables when the rights to consideration become unconditional. The amounts recorded for contract assets at March 31, 2020 and December 31, 2019 were $1 million and $4 million, respectively, and are reported in Other current assets in the Consolidated Statement of Financial Position. The contract liabilities primarily relate to prepaid service contracts, upfront payments for certain equipment purchases or prepaid royalties on intellectual property arrangements. The amounts recorded for contract liabilities at March 31, 2020 and December 31, 2019 were $56 million and $61 million, respectively, of which $39 million and $43 million are reported in Other current liabilities, respectively and $17 million and $18 million, respectively, are reported in Other long-term liabilities in the Consolidated Statement of Financial Position. Revenue recognized for the three months ended March 31, 2020 and 2019 that was included in the contract liability balance at the beginning of the year was $26 million and $24 million, respectively, and primarily represented revenue from prepaid service contracts and equipment revenue recognition. Contract liabilities as of March 31, 2020 and 2019 included $19 million and $20 million of cash payments received during the three months ended March 31, 2020 and 2019, respectively. Kodak does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less or for which revenue is recognized at the amount to which Kodak has the right to invoice for services performed. Performance obligations with an original expected length of greater than one year generally consist of deferred service contracts, operating leases and licensing arrangements. As of March 31, 2020, there was approximately $70 million of unrecognized revenue from unsatisfied performance obligations. Approximately 25% of the revenue from unsatisfied performance obligations is expected to be recognized in each of the rest of 2020 and in 2021, with 15% expected to be recognized in 2022 and 35% thereafter.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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