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Note 17 - Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | NOTE 17: SEGMENT INFORMATION Kodak has three reportable segments: Print, Advanced Materials and Chemicals and Brand. Kodak’s reportable segments are based on a combination of factors that the chief operating decision maker (“CODM”) uses to evaluate and manage the business operations, including but not limited to, Kodak’s organizational structure, customer base, markets, products and services and related technologies. Kodak does not aggregate operating segments. A description of Kodak’s reportable segments follows. Print: The Print segment is comprised of four lines of business: the Prepress Solutions business, the PROSPER business, the Software business and the Electrophotographic Printing Solutions 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. The balance of Kodak’s continuing operations, which do not meet the criteria of a reportable segment, are reported in All Other revenues and All Other Operational EBITDA, and primarily represent the operations of the Eastman Business Park. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in Note 1 included in the 2024 Form 10-K. There are no intersegment sales between the segments. Kodak’s CODM is the Executive Chairman and Chief Executive Officer. Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). Operational EBITDA represents the (loss) 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; interest expense; other operating income, net and other income, net. The CODM uses Operational EBITDA in assessing segment performance and deciding how to allocate resources for each segment predominantly through the annual budget and forecasting process. The CODM evaluates Operational EBITDA budget-to-actual variances, changes in Operational EBITDA from prior periods and when comparing the results of each segment with one another. Segment financial information is shown below. Asset information by reportable segment is not disclosed below as this information is not regularly provided to or used by the CODM in assessing performance and allocating resources. Segment Revenues, Operational EBITDA and Consolidated (Loss) Earnings from Continuing Operations Before Income Taxes
| Three Months Ended |
| March 31, |
| 2025 |  |  | 2024 |
(in millions) |  |  |  |  |
Print: |  |  |  |  |
Revenues from external customers | $ | 165 |  |  | $ | 182 |
Cost of revenues |  | 137 |  |  |  | 145 |
Selling, general and administrative expenses |  | 33 |  |  |  | 32 |
Research and development expenses |  | 4 |  |  |  | 5 |
Operational EBITDA |  | (9 | ) |  |  | — |
Advanced Materials and Chemicals: |  |  |  |  |
Revenues from external customers |  | 74 |  |  |  | 59 |
Cost of revenues |  | 55 |  |  |  | 47 |
Selling, general and administrative expenses |  | 9 |  |  |  | 8 |
Research and development expenses |  | 3 |  |  |  | 3 |
Operational EBITDA |  | 7 |  |  |  | 1 |
Brand: |  |  |  |  |
Revenues from external customers |  | 4 |  |  |  | 4 |
Selling, general and administrative expenses |  | — |  |  |  | 1 |
Operational EBITDA |  | 4 |  |  |  | 3 |
Total Operational EBITDA for Reportable Segments |  | 2 |  |  |  | 4 |
All Other Operational EBITDA |  | — |  |  |  | 1 |
Depreciation and amortization |  | (7 | ) |  |  | (7 | )
Restructuring costs and other |  | (5 | ) |  |  | (5 | )
Stock-based compensation |  | (2 | ) |  |  | (3 | )
Idle costs (1) |  | (1 | ) |  |  | — |
Other operating income, net (2) |  | — |  |  |  | 17 |
Interest expense (2) |  | (14 | ) |  |  | (15 | )
Pension income excluding service cost component (2) |  | 22 |  |  |  | 41 |
Other income, net (2) |  | — |  |  |  | 2 |
Consolidated (loss) earnings from continuing operations before income taxes | $ | (5 | ) |  | $ | 35 |
(1) 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. (2) As reported in the Consolidated Statement of Operations. A reconciliation of reportable segment revenues to consolidated revenues follows:
| Three Months Ended |
| March 31, |
(in millions) | 2025 |  |  | 2024 |
Total Reportable Segment Revenues | $ | 243 |  |  | $ | 245 |
All Other Revenues |  | 4 |  |  |  | 4 |
Total Consolidated Revenues | $ | 247 |  |  | $ | 249 |
Kodak increased employee benefit reserves by approximately $1 million in the three months ended March 31, 2025 due to an increase in workers' compensation reserves driven by changes in discount rates. The increase in reserves in the three months ended March 31, 2025 impacted gross profit by approximately $1 million. Kodak decreased employee benefit reserves by approximately $1 million in the three months ended March 31, 2024 due to a decrease in workers' compensation reserves driven by changes in discount rates. The decrease in reserves in the three months ended March 31, 2024 impacted gross profit by approximately $1 million. Amortization and depreciation expense by segment are not included in the segment measure of profit and loss but are regularly provided to the CODM.
| Three Months Ended |
(in millions) | March 31, |
Intangible asset amortization expense from continuing operations: | 2025 |  |  | 2024 |
Print | $ | 1 |  |  | $ | 1 |
Total | $ | 1 |  |  | $ | 1 |
| Three Months Ended |
(in millions) | March 31, |
Depreciation expense from continuing operations: | 2025 |  |  | 2024 |
Print | $ | 4 |  |  | $ | 4 |
Advanced Materials and Chemicals |  | 2 |  |  |  | 2 |
Total | $ | 6 |  |  | $ | 6 |
(in millions) | March 31, |  |  | December 31, |
Long-lived assets located in: (1) | 2025 |  |  | 2024 |
The United States | $ | 149 |  |  | $ | 143 |
Europe, Middle East and Africa |  | 5 |  |  |  | 5 |
Asia Pacific |  | 5 |  |  |  | 5 |
Canada and Latin America |  | 39 |  |  |  | 36 |
Non-U.S. countries total (2) |  | 49 |  |  |  | 46 |
Total | $ | 198 |  |  | $ | 189 |
(1) Long-lived assets are comprised of property, plant and equipment, net. (2) Of the total non-U.S. property, plant and equipment as of March 31, 2025, $38 million was located in Brazil. Of the total non-U.S. property, plant and equipment as of December 31, 2024, $35 million was located in Brazil.

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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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