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Note 16 - Segment Information | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 16: SEGMENT INFORMATION Kodak has three reportable segments: Print, Advanced Materials and Chemicals and Brand. A description of Kodak’s reportable segments follows. Print: The Print segment is comprised of five lines of business: the Prepress Solutions business, the PROSPER business, the Software business, the Electrophotographic Printing Solutions business and the VERSAMARK business. Advanced Materials and Chemicals: The Advanced Materials and Chemicals segment is comprised of four lines of business: the Industrial Film and Chemicals business, the Motion Picture business, the Advanced Materials and Functional Printing business and the IP Licensing and Analytical Services business. 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. Segment financial information is shown below: Segment Revenues
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Print |  | $ | 182 |  |  | $ | 196 |  |  | $ | 550 |  |  | $ | 620 |
Advanced Materials and Chemicals |  |  | 71 |  |  |  | 64 |  |  |  | 203 |  |  |  | 197 |
Brand |  |  | 5 |  |  |  | 4 |  |  |  | 13 |  |  |  | 12 |
All Other |  |  | 3 |  |  |  | 5 |  |  |  | 11 |  |  |  | 13 |
Total |  | $ | 261 |  |  | $ | 269 |  |  | $ | 777 |  |  | $ | 842 |
Segment Operational EBITDA and Consolidated Earnings from Operations Before Income Taxes
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Print |  | $ | (9 | ) |  | $ | 4 |  |  | $ | (9 | ) |  | $ | 18 |
Advanced Materials and Chemicals |  |  | 6 |  |  |  | 4 |  |  |  | 15 |  |  |  | 15 |
Brand |  |  | 4 |  |  |  | 4 |  |  |  | 11 |  |  |  | 10 |
Total of reportable segments |  |  | 1 |  |  |  | 12 |  |  |  | 17 |  |  |  | 43 |
All other |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |
Depreciation and amortization |  |  | (8 | ) |  |  | (7 | ) |  |  | (21 | ) |  |  | (23 | )
Restructuring costs and other (1) |  |  | (1 | ) |  |  | (3 | ) |  |  | (6 | ) |  |  | (9 | )
Stock based compensation |  |  | (1 | ) |  |  | (1 | ) |  |  | (5 | ) |  |  | (6 | )
Consulting and other costs (2) |  |  | — |  |  |  | (1 | ) |  |  | (1 | ) |  |  | 10 |
Idle costs (3) |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (1 | )
Other operating income, net (4) |  |  | — |  |  |  | — |  |  |  | 16 |  |  |  | — |
Interest expense (4) |  |  | (14 | ) |  |  | (14 | ) |  |  | (44 | ) |  |  | (36 | )
Pension income excluding service cost component (4) |  |  | 42 |  |  |  | 41 |  |  |  | 124 |  |  |  | 122 |
Loss on extinguishment of debt (4) |  |  | — |  |  |  | (27 | ) |  |  | — |  |  |  | (27 | )
Other income (charges), net (4) |  |  | 1 |  |  |  | (2 | ) |  |  | 2 |  |  |  | 2 |
Consolidated earnings from operations before income taxes |  | $ | 21 |  |  | $ | — |  |  | $ | 83 |  |  | $ | 78 |
(1) | Restructuring costs and other for the three and nine months ended September 30, 2023 included $1 million and $7 million, respectively, which were reported as Restructuring costs and other in the Consolidated Statement of Operations. The remaining $2 million in each period represented inventory write-downs and were reported as Cost of revenues in the accompanying Consolidated Statement of Operations.
(2) | Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. Consulting and other costs included $1 million and $12 million of income in the three and nine months ended September 30, 2023, respectively, representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters.
(3) | Consists of third-party 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.
(4) | As reported in the Consolidated Statement of Operations.
Kodak increased employee benefit reserves by approximately $2 million and $1 million in the three and nine months ended September 30, 2024, respectively. The increase in employee benefit reserves in the three and nine months ended September 30, 2024 was primarily due to an increase in workers' compensation reserves driven by changes in discount rates. The increase in reserves in the three months ended September 30, 2024 impacted gross profit and selling, general and administrative expenses (“SG&A”) by approximately $1 million each. The increase in reserves in the nine months ended September 30, 2024 did not have a significant impact on gross profit, R&D or SG&A. Kodak decreased employee benefit reserves by approximately $3 million in the three and nine months ended September 30, 2023, primarily related to workers’ compensation reserves, driven by changes in discount rates. The change in employee benefit reserves in the three months ended September 30, 2023 impacted gross profit by approximately $2 million and SG&A by approximately $1 million. The decrease in reserves in the nine months ended September 30, 2023 impacted gross profit by approximately $1 million and SG&A expenses by approximately $2 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 consolidated earnings from operations excluding the provision for income taxes; non-service cost components of pension and other postemployment benefits (“OPEB”) income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; interest expense; other operating income, net; loss on extinguishment of debt and other income (charges), net.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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