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Note 5 - Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 5: GOODWILL AND OTHER INTANGIBLE ASSETS The following table presents the changes in the carrying value of goodwill by reportable segment.
|  |  |  |  |  | Advanced |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Materials and |  |  |  |  |  |  | Consolidated |
(in millions) |  | Print |  |  | Chemicals |  |  | Brand |  |  | Total |
Balance as of December 31, 2021 |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 12 |
Impairment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
As of December 31, 2022 |  |  | 6 |  |  |  | — |  |  |  | 6 |  |  |  | 12 |
Impairment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
As of December 31, 2023 |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 12 |
Gross goodwill |  | $ | 62 |  |  | $ | 8 |  |  | $ | 6 |  |  | $ | 76 |
Accumulated impairment losses |  |  | (56 | ) |  |  | (8 | ) |  |  | — |  |  |  | (64 | )
Balance as of December 31, 2023 |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 12 |
The Print segment has four goodwill reporting units: Prepress Solutions, Electrophotographic Printing Solutions; Prosper and Versamark; and Software. The Advanced Materials and Chemicals segment has two goodwill reporting units: Motion Picture and Industrial Films and Chemicals; and Advanced Materials and Functional Printing. The Brand segment has one goodwill reporting unit. As of December 31, 2023, goodwill is only recorded in the Brand and Software reporting units. Based upon the results of Kodak’s December 31, 2023 and 2022 annual impairment tests, no impairment of goodwill is indicated. As of December 31, 2023 and 2022 the carrying value of the Brand reporting unit was negative. ` The gross carrying amount and accumulated amortization by major intangible asset category as of December 31, 2023 and 2022 were as follows:
|  | As of December 31, 2023
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted Average
|  |  |  |  |  |  |  |  |  |  |  |  | Remaining
|  | Gross Carrying |  |  | Accumulated |  |  |  |  |  | Amortization Period
(in millions) |  | Amount |  |  | Amortization |  |  | Net |  | (in years)
Technology-based |  | $ | 99 |  |  | $ | 92 |  |  | $ | 7 |  | 2 years
Kodak trade name |  |  | 17 |  |  |  | — |  |  |  | 17 |  | Indefinite life
Customer-related |  |  | 9 |  |  |  | 9 |  |  |  | — |  | 0 years
Total |  | $ | 125 |  |  | $ | 101 |  |  | $ | 24 |  |
|  | As of December 31, 2022
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted Average
|  |  |  |  |  |  |  |  |  |  |  |  | Remaining
|  | Gross Carrying |  |  | Accumulated |  |  |  |  |  | Amortization Period
(in millions) |  | Amount |  |  | Amortization |  |  | Net |  | (in years)
Technology-based |  | $ | 99 |  |  | $ | 88 |  |  | $ | 11 |  | 3 years
Kodak trade name |  |  | 17 |  |  |  | — |  |  |  | 17 |  | Indefinite life
Customer-related |  |  | 9 |  |  |  | 9 |  |  |  | - |  | 1 year
Total |  | $ | 125 |  |  | $ | 97 |  |  | $ | 28 |  |
Based on the results of Kodak’s December 31, 2023 annual impairment test, the carrying value of the Kodak trade name exceeded its fair value and Kodak recorded a pre-tax impairment charge of less than $1 million. Based on the results of Kodak’s December 31, 2022 annual impairment test, the carrying value of the Kodak trade name exceeded its fair value and Kodak recorded a pre-tax impairment charge of $1 million driven by lower forecasted revenues primarily associated with the decision to cease manufacturing of the Electrophotographic Printing Solutions equipment products. The $1 million impairment charge is included in Other operating expense (income), net for the year ended December 31, 2022 in the Consolidated Statement of Operations. Amortization expense related to intangible assets was $4 million for the year ended December 31, 2023 and $5 million for each of the years ended December 31, 2022 and 2021. Estimated future amortization expense related to intangible assets that are currently being amortized as of December 31, 2023 was as follows:
(in millions) |  |  |  |
2024 |  | $ | 4 |
2025 |  |  | 3 |
Total |  | $ | 7 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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