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Note 19 - Segment Information | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Segment Information | NOTE 19: SEGMENT INFORMATION Kodak has four reportable segments: Traditional Printing, Digital Printing, Advanced Materials and Chemicals and Brand. A description of Kodak’s reportable segments follows. Traditional Printing: The Traditional Printing segment is comprised of Prepress Solutions. Digital Printing: The Digital Printing segment is comprised of four lines of business: the Electrophotographic Printing Solutions business, the Prosper business, the Versamark business and the Kodak Software business. Advanced Materials and Chemicals: The Advanced Materials and Chemicals segment is comprised of four lines of business: Industrial Film and Chemicals, Motion Picture, Advanced Materials and Functional Printing and Kodak Services for Business (“KSB”). KSB was sold to Swiss Post Solutions in December 2020. Brand: The Brand segment contains the brand licensing business. All Other: All Other is comprised of the operations of the Eastman Business Park, a more than 1,200-acre technology center and industrial complex. Segmen t financial information is shown below: Segment Revenues
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in millions) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Traditional Printing |  | $ | 166 |  |  | $ | 146 |  |  | $ | 483 |  |  | $ | 419 |
Digital Printing |  |  | 58 |  |  |  | 56 |  |  |  | 184 |  |  |  | 173 |
Advanced Materials and Chemicals |  |  | 55 |  |  |  | 44 |  |  |  | 155 |  |  |  | 124 |
Brand |  |  | 4 |  |  |  | 3 |  |  |  | 10 |  |  |  | 8 |
All Other |  |  | 4 |  |  |  | 3 |  |  |  | 11 |  |  |  | 8 |
Consolidated total |  | $ | 287 |  |  | $ | 252 |  |  | $ | 843 |  |  | $ | 732 |
Segment Operational EBITDA and Consolidated Income (Loss) from Operations Before Income Taxes
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in millions) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Traditional Printing |  | $ | 5 |  |  | $ | 5 |  |  | $ | 16 |  |  | $ | 7 |
Digital Printing |  |  | (2 | ) |  |  | (3 | ) |  |  | (2 | ) |  |  | (8 | )
Advanced Materials and Chemicals |  |  | — |  |  |  | (6 | ) |  |  | (3 | ) |  |  | (22 | )
Brand |  |  | 3 |  |  |  | 3 |  |  |  | 8 |  |  |  | 7 |
Total of reportable segments |  |  | 6 |  |  |  | (1 | ) |  |  | 19 |  |  |  | (16 | )
All Other |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |
Depreciation and amortization |  |  | (7 | ) |  |  | (9 | ) |  |  | (23 | ) |  |  | (29 | )
Restructuring costs and other |  |  | — |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (9 | )
Stock based compensation |  |  | (2 | ) |  |  | (17 | ) |  |  | (6 | ) |  |  | (18 | )
Consulting and other costs (1) |  |  | (4 | ) |  |  | (4 | ) |  |  | (13 | ) |  |  | (5 | )
Idle costs (2) |  |  | (1 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | (2 | )
Other operating (expense) income, net, excluding income from transition services agreement (3) |  |  | (1 | ) |  |  | — |  |  |  | 6 |  |  |  | 6 |
Interest expense (4) |  |  | (9 | ) |  |  | (3 | ) |  |  | (23 | ) |  |  | (11 | )
Pension income excluding service cost component (4) |  |  | 25 |  |  |  | 26 |  |  |  | 76 |  |  |  | 79 |
Loss on early extinguishment of debt (4) |  |  | — |  |  |  | (2 | ) |  |  | - |  |  |  | (2 | )
Other income (charges) net (4) |  |  | 2 |  |  |  | (432 | ) |  |  | 1 |  |  |  | (387 | )
Consolidated income (loss) from operations before income taxes |  | $ | 9 |  |  | $ | (444 | ) |  | $ | 35 |  |  | $ | (394 | )
| (1) | Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation.
| (2) | Consists of costs such as security, maintenance and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.
| (3) | $1 million and $5 million of income from the transition services agreement with the purchaser of Kodak’s Flexographic Packaging Business was recognized in the three and nine months ended September 30, 2020, respectively. No income has been recognized in 2021. The income was reported in Other operating expense (income), net in the Consolidated Statement of Operations. Other operating expense (income), net is typically excluded from the segment measure. However, the income from the transition services agreement was included in the segment measure.
| (4) | As reported in the Consolidated Statement of Operations.
Kodak decreased workers’ compensation reserves by approximately $1 million and $4 million in the three and nine months ended September 30, 2021, respectively, driven by changes in discount rates. The decrease in reserves in the three and nine months ended September 30, 2021 impacted gross profit by approximately $1 million and $3 million, respectively. Selling, general and administrative expenses (“SG&A”) were not impacted in the three months ended September 30, 2021 and were impacted by approximately $1 million in the nine months ended September 30, 2021. Kodak increased workers’ compensation reserves by approximately $9 million in the third quarter of 2020 driven by changes in discount rates. The increase in reserves in the third quarter of 2020 impacted gross profit by approximately $6 million, SG&A by approximately $2 million and R&D by approximately $1 million. Segment Measure of Profit and Loss Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). As demonstrated in the above table, Operational EBITDA represents the earnings (loss) from operations excluding the provision for income taxes; non-service cost components of pension and other postemployment benefits (“OPEB”) income; loss on early extinguishment of debt, depreciation and amortization expense; restructuring costs; stock-based compensation expense; consulting and other costs; idle costs; other operating (expense) income, net (unless otherwise indicated); interest expense and other income (charges), net. Kodak’s segments are measured using Operational EBITDA both before and after allocation of corporate SG&A. The segment earnings measure reported is after allocation of corporate SG&A as this most closely aligns with U.S. GAAP. Research and Development activities not directly related to the other segments are reported within the Advanced Materials and Chemicals segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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