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Note 7 - Long-term Liabilities

12 Months Ended

Dec. 31, 2023

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block]

NOTE 7: OTHER LONG-TERM LIABILITIES

	*As of December 31,*
(in millions)	*2023*		*2022*
Workers' compensation	$	56	$	59
Asset retirement obligations		43		43
Deferred taxes		27		27
Deferred brand licensing revenue ⁽¹⁾		63		11
Environmental liabilities		9		8
Embedded conversion option derivative liabilities		2		4
Other		13		19
Total	$	213	$	171

⁽¹⁾

During the third quarter of 2023, Kodak entered into multiple long-term brand licensing arrangements and recorded total deferred revenue of approximately $57 million. Kodak received approximately $12 million of cash proceeds related to these licensing arrangements in 2023 and approximately $40 million and $5 million, respectively, was recorded as an offset in Trade receivables, net and Other long-term assets in the Consolidated Statement of Financial Position. Approximately $54 million of the deferred revenue balance related to these licensing arrangements as of December 31, 2023 is recorded in Other long-term liabilities and the remaining $3 million in Other current liabilities in the Consolidated Statement of Financial Position. Kodak will recognize the total deferred revenue amount ratably over the term of the respective arrangements, ranging from five to twenty years. While the arrangements include up-front payments, Kodak determined that the contracts did not have a significant financing component.

The Other component above consists of other miscellaneous long-term liabilities that, individually, were less than 5% of the total liabilities component in the accompanying Consolidated Statement of Financial Position and therefore have been aggregated in accordance with Regulation S-X.