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Note 20 - Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2021
Fair Value Disclosures [Abstract] |
Derivatives Not Designated as Hedging Instruments | The net effect of foreign currency forward contracts in the results of operations is shown in the following table:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(in millions) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net (gain) loss from derivatives not designated as hedging instruments |  | $ | (1 | ) |  | $ | (1 | ) |  | $ | 2 |  |  | $ | (2 | )
Derivative Liability Key Inputs in Determination of Fair Value for Embedded Conversion Features | The following tables present the key inputs in the determination of fair value for the embedded conversion features: Convertible Notes:
|  | Valuation Date |
|  |  |  |  |  | February 26, |
|  | June 30, |  |  | 2021 |
|  | 2021 |  |  | (Inception) |
Total value of embedded derivative liability ($ millions) |  | $ | 10 |  |  | $ | 12 |
Kodak's closing stock price |  | $ | 8.32 |  |  | $ | 8.62 |
Expected stock price volatility |  |  | 51.50 | % |  |  | 70.00 | %
Risk free rate |  |  | 0.86 | % |  |  | 0.80 | %
Implied credit spread on the Convertible Notes |  |  | 17.57 | % |  |  | 18.25 | %
Series B Preferred Stock:
|  | Valuation Date |
|  |  |  |  |  | February 26, |
|  | June 30, |  |  | 2021 |
|  | 2021 |  |  | (Inception) |
Total value of embedded derivative liability ($ millions) |  | $ | 1 |  |  | $ | 1 |
Kodak's closing stock price |  | $ | 8.32 |  |  | $ | 8.62 |
Expected stock price volatility |  |  | 51.50 | % |  |  | 70.00 | %
Risk free rate |  |  | 0.86 | % |  |  | 0.80 | %
Implied credit spread on the preferred stock |  |  | 19.07 | % |  |  | 19.75 | %
Series C Preferred Stock:
|  | Valuation Date |
|  |  |  |  |  | March 30, |  |  | February 26, |
|  |  |  |  |  | 2021 |  |  | 2021 |
|  | June 30, 2021 |  |  | (Inception - Final Sale) |  |  | (Inception - Initial Sale) |
Total value of embedded derivative liability ($ millions) |  | $ | 2 |  |  | $ | 1 |  |  | $ | 1 |
Kodak's closing stock price |  | $ | 8.32 |  |  | $ | 8.05 |  |  | $ | 8.62 |
Expected stock price volatility |  |  | 51.50 | % |  |  | 70.00 | % |  |  | 70.00 | %
Risk free rate |  |  | 0.86 | % |  |  | 0.94 | % |  |  | 0.80 | %
Implied credit spread on the preferred stock |  |  | 21.07 | % |  |  | 21.75 | % |  |  | 21.75 | %
Series A Preferred Stock:
|  | Valuation Date |
|  | February 26, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Total value of embedded derivative liability ($ millions) |  | $ | 11 |  |  | $ | 9 |
Kodak's closing stock price |  | $ | 8.62 |  |  | $ | 8.14 |
Expected stock price volatility |  |  | 137.53 | % |  |  | 133.44 | %
Risk free rate |  |  | 0.07 | % |  |  | 0.10 | %
Implied credit spread on the preferred stock |  |  | 14.02 | % |  |  | 11.97 | %

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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