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Note 17 - Restructuring Liabilities | 6 Months Ended
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Jun. 30, 2020
Restructuring And Related Activities [Abstract] |
Restructuring Liabilities | NOTE 17: RESTRUCTURING LIABILITIES Charges for restructuring activities are recorded in the period in which Kodak commits to a formalized restructuring plan, or executes the specific actions contemplated by the plan, and all criteria for liability recognition under the applicable accounting guidance have been met. Restructuring actions taken in the first six months of 2020 were initiated to reduce Kodak’s cost structure as part of its commitment to drive sustainable profitability and included various targeted reductions in manufacturing, service, sales and other administrative functions. Restructuring Reserve Activity The activity in the accrued balances and the non-cash charges and credits incurred in relation to restructuring activities for the six months ended June 30, 2020 were as follows:
(in millions) |  | Severance Reserve (1) |  |  | Exit Costs Reserve (1) |  |  | Long-lived Asset Impairments and Inventory Write-downs (1) |  |  | Total |
Balance as of December 31, 2019 |  | $ | 11 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 12 |
Q1 charges |  |  | 6 |  |  |  | 1 |  |  |  | — |  |  |  | 7 |
Q1 utilization/cash payments |  |  | (7 | ) |  |  | — |  |  |  | — |  |  |  | (7 | )
Q1 other adjustments and reclasses (2) |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |  |  | (2 | )
Balance as of March 31, 2020 |  | $ | 9 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 10 |
Q2 charges |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Q2 utilization/cash payments |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | (3 | )
Balance as of June 30, 2020 |  | $ | 7 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 8 |
(1) | The severance and exit costs reserves require the outlay of cash, while long-lived asset impairments and inventory write-downs represent non-cash items.
(2) | Includes $(1) million of severance charges funded from pension plan assets, which were reclassified to Pension and other postretirement liabilities and $(1) million of currency translation impacts.
The $1 million and $7 million of charges for the three and six months ended June 30, 2020, respectively, were reported as Restructuring costs and other in the Consolidated Statement of Operations. The severance costs for the 3 months ended June 30, 2020 related to the elimination of 3 administrative positions outside of the U.S. The severance costs for the six months ended June 30, 2020 related to the elimination of approximately 90 positions including approximately 20 manufacturing/service positions, and 70 administrative and sales positions. The geographic composition of these positions includes approximately 40 in the U.S. and Canada and 50 throughout the rest of the world. As a result of these initiatives, the majority of the severance will be paid during periods through the end of the year.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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