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Note 21 - Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Earnings Per Share [Text Block] | NOTE 21: EARNINGS PER SHARE Basic earnings per share are calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share calculations include any dilutive effect of potential common shares. In periods with a net loss from continuing operations, diluted earnings per share are calculated using weighted-average basic shares for that period, as utilizing diluted shares would be anti-dilutive to loss per share. A reconciliation of the amounts used to calculate basic and diluted earnings per share for the years ended December 31, 2023, 2022 and 2021 follows:
|  | Year Ended December 31, |
(in millions) |  | 2023 |  |  | 2022 |  |  | 2021 |
Net income attributable to Eastman Kodak Company |  | $ | 75 |  |  | $ | 26 |  |  | $ | 24 |
Less: Preferred Stock cash and accrued dividends |  |  | (4 | ) |  |  | (4 | ) |  |  | (4 | )
Less: Preferred Stock in-kind dividends |  |  | (5 | ) |  |  | (5 | ) |  |  | (4 | )
Less: Preferred Stock deemed dividends |  |  | (2 | ) |  |  | (2 | ) |  |  | (3 | )
Plus: Expiration of Series A embedded derivative |  |  | — |  |  |  | — |  |  |  | 11 |
Less: Earnings attributable to Series C Preferred shareholders |  |  | (8 | ) |  |  | (2 | ) |  |  | (2 | )
Net income available to common shareholders - basic |  | $ | 56 |  |  | $ | 13 |  |  | $ | 22 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Add back: Series B preferred stock cash and deemed dividends |  | $ | 5 |  |  | $ | — |  |  | $ | — |
Net earnings available to common shareholders - diluted |  | $ | 61 |  |  | $ | 13 |  |  | $ | 22 |
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Weighted-average common shares outstanding - basic |  |  | 79.4 |  |  |  | 78.9 |  |  |  | 78.4 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Unvested restricted stock units and awards |  |  | 0.9 |  |  |  | 0.6 |  |  |  | 0.1 |
Stock options |  |  | 0.7 |  |  |  | 1.1 |  |  |  | 2.0 |
Series B Preferred Stock |  |  | 9.5 |  |  |  | — |  |  |  | — |
Weighted-average common shares outstanding - diluted |  |  | 90.5 |  |  |  | 80.6 |  |  |  | 80.5 |
The computation of diluted earnings per share for the year ended December 31, 2023 excluded the impact of (1) the assumed conversion of 1.1 million shares of Series C Preferred Stock and (2) the assumed exercise of 3.9 million outstanding employee stock options in each case because they would have been anti-dilutive. The computation of diluted earnings per share for the year ended December 31, 2022 and 2021 excluded the impact of (1) the assumed conversion of $25 million of Convertible Notes, (2) the assumed conversion of 1.0 million shares of Series B Preferred Stock, (3) the assumed conversion of 1.1 million and 1.0 million, respectively, shares of Series C Preferred Stock and (4) the assumed exercise of 3.3 million and 2.9 million, respectively, outstanding employee stock options in each case because they would have been anti-dilutive.

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