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Note 20 - Financial Instruments (Tables) | 9 Months Ended
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Sep. 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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in millions) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net (gain) loss from derivatives not designated as hedging instruments |  | $ | (1 | ) |  | $ | (4 | ) |  | $ | 1 |  |  | $ | (6 | )
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, |
|  | September 30, |  |  | 2021 |
|  | 2021 |  |  | (Inception) |
Total value of embedded derivative liability ($ millions) |  | $ | 7 |  |  | $ | 12 |
Kodak's closing stock price |  | $ | 6.81 |  |  | $ | 8.62 |
Expected stock price volatility |  |  | 47.50 | % |  |  | 70.00 | %
Risk free rate |  |  | 0.90 | % |  |  | 0.80 | %
Implied credit spread on the Convertible Notes |  |  | 18.41 | % |  |  | 18.25 | %
Series B Preferred Stock:
|  | Valuation Date |
|  |  |  |  |  | February 26, |
|  | September 30, |  |  | 2021 |
|  | 2021 |  |  | (Inception) |
Total value of embedded derivative liability ($ millions) |  | $ | 1 |  |  | $ | 1 |
Kodak's closing stock price |  | $ | 6.81 |  |  | $ | 8.62 |
Expected stock price volatility |  |  | 47.50 | % |  |  | 70.00 | %
Risk free rate |  |  | 0.90 | % |  |  | 0.80 | %
Implied credit spread on the preferred stock |  |  | 19.91 | % |  |  | 19.75 | %
Series C Preferred Stock:
|  | Valuation Date |
|  |  |  |  |  | March 30, |  |  | February 26, |
|  |  |  |  |  | 2021 |  |  | 2021 |
|  | September 30, 2021 |  |  | (Inception - Final Sale) |  |  | (Inception - Initial Sale) |
Total value of embedded derivative liability ($ millions) |  | $ | 2 |  |  | $ | 1 |  |  | $ | 1 |
Kodak's closing stock price |  | $ | 6.81 |  |  | $ | 8.05 |  |  | $ | 8.62 |
Expected stock price volatility |  |  | 47.50 | % |  |  | 70.00 | % |  |  | 70.00 | %
Risk free rate |  |  | 0.90 | % |  |  | 0.94 | % |  |  | 0.80 | %
Implied credit spread on the preferred stock |  |  | 21.91 | % |  |  | 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 liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + 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 (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL109998890-113959 + Details
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