Note 1 - Basis of Presentation and Recent Accounting Pronouncements	9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	NOTE 1: BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS BASIS OF PRESENTATION The consolidated interim financial statements are unaudited, and certain information and footnote disclosures related thereto normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, the accompanying unaudited consolidated interim financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the results of operations, financial position and cash flows of Eastman Kodak Company and all companies directly or indirectly controlled, either through majority ownership or otherwise (“Kodak” or the “Company”). The results of operations for the interim periods are not necessarily indicative of the results for the entire fiscal year. These consolidated interim statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”). RECLASSIFICATIONS Certain amounts from previous periods have been reclassified to conform to the current period classification of paid-in-kind interest expense in the Consolidated Statement of Cash Flows. GOING CONCERN As disclosed in the Company’s quarterly report on Form 10‐Q for the quarter ended June 30, 2025, Kodak had debt coming due within twelve months and its plans to adequately fund its debt obligations at that time were not solely within the Company’s control and therefore were not deemed “probable” under U.S. GAAP. As of the date of issuance of these consolidated interim financial statements, the Company has extended the maturity dates of the Term Loans (defined below) and the L/C Facility Agreement (defined below). In addition, as of the date of issuance of these consolidated interim financial statements, Kodak has settled approximately $2.1 billion of pension obligations under the Kodak Retirement Income Plan (“KRIP”) and will transfer the remaining liabilities of approximately $15 million for missing participants to the Pension Benefit Guaranty Corporation (“PBGC”) by the end of November 2025. Upon completing the transfer of these remaining liabilities to the PBGC, all pension obligations under KRIP will be fully settled and the excess pension assets will be distributed to the Company and the Kodak Cash Balance Plan, given the authority of the Plan Sponsor (Kodak) to distribute such assets. Refer to Note 19, “Subsequent Events” for additional information on the amendments for the Term Loans and L/C Facility Agreement as well as the settlement of KRIP’s pension obligations. Based on the actions completed by management, the Company will receive sufficient proceeds from the reversion of cash from KRIP to the Company in December 2025 to adequately fund the Company’s debt obligations required to be paid from such proceeds or otherwise maturing within twelve months as of the filing of this Form 10-Q. Therefore, the prior conditions that raised substantial doubt about Kodak’s ability to continue as a going concern, as disclosed in the Form 10-Q for the quarter ended June 30, 2025, have been resolved. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS No accounting pronouncements were recently adopted by Kodak. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires disclosure of additional categories of information about federal, state and foreign income taxes in the rate reconciliation table and more details about the reconciling items in some categories if items meet a quantitative threshold. The ASU requires entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. The ASU is required to be applied prospectively, with the option to apply it retrospectively. The ASU is effective for Kodak for the fiscal year ending December 31, 2025, and the required disclosures will be included in Kodak's Form 10-K for the year ending December 31, 2025. As the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires public business entities to disclose specified information about certain costs and expenses, including but not limited to purchases of inventory, employee compensation, depreciation, and intangible asset amortization, in a tabular format within the notes to their financial statements, as well as provide additional disclosures related to certain other specified expenses. The ASU may be applied on either a prospective or retrospective basis and is effective for annual reporting periods beginning after December 15, 2026 (January 1, 2027 for Kodak) and interim reporting periods beginning after December 15, 2027 (January 1, 2028 for Kodak). As the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements. In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting for internal-use software to reflect the evolution of software development to using an incremental and iterative development method. Accordingly, the ASU removes all references in Subtopic 350-40 to prescriptive and sequential software development phases (or “project stages”), and requires an entity to start capitalizing software costs when both (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. The ASU may be applied using either a prospective, retrospective, or modified transition approach, and is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within such annual reporting periods (January 1, 2028 for Kodak). The Company is currently evaluating the impact of this ASU.

Note 1 - Basis of Presentation and Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2025

Basis of Presentation and Summary of Significant Accounting Policies

NOTE 1: BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS

BASIS OF PRESENTATION

The consolidated interim financial statements are unaudited, and certain information and footnote disclosures related thereto normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, the accompanying unaudited consolidated interim financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the results of operations, financial position and cash flows of Eastman Kodak Company and all companies directly or indirectly controlled, either through majority ownership or otherwise (“Kodak” or the “Company”). The results of operations for the interim periods are not necessarily indicative of the results for the entire fiscal year. These consolidated interim statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”).

RECLASSIFICATIONS

Certain amounts from previous periods have been reclassified to conform to the current period classification of paid-in-kind interest expense in the Consolidated Statement of Cash Flows.

GOING CONCERN

As disclosed in the Company’s quarterly report on Form 10‐Q for the quarter ended June 30, 2025, Kodak had debt coming due within twelve months and its plans to adequately fund its debt obligations at that time were not solely within the Company’s control and therefore were not deemed “probable” under U.S. GAAP.

As of the date of issuance of these consolidated interim financial statements, the Company has extended the maturity dates of the Term Loans (defined below) and the L/C Facility Agreement (defined below). In addition, as of the date of issuance of these consolidated interim financial statements, Kodak has settled approximately $2.1 billion of pension obligations under the Kodak Retirement Income Plan (“KRIP”) and will transfer the remaining liabilities of approximately $15 million for missing participants to the Pension Benefit Guaranty Corporation (“PBGC”) by the end of November 2025. Upon completing the transfer of these remaining liabilities to the PBGC, all pension obligations under KRIP will be fully settled and the excess pension assets will be distributed to the Company and the Kodak Cash Balance Plan, given the authority of the Plan Sponsor (Kodak) to distribute such assets. Refer to Note 19, “Subsequent Events” for additional information on the amendments for the Term Loans and L/C Facility Agreement as well as the settlement of KRIP’s pension obligations.

Based on the actions completed by management, the Company will receive sufficient proceeds from the reversion of cash from KRIP to the Company in December 2025 to adequately fund the Company’s debt obligations required to be paid from such proceeds or otherwise maturing within twelve months as of the filing of this Form 10-Q. Therefore, the prior conditions that raised substantial doubt about Kodak’s ability to continue as a going concern, as disclosed in the Form 10-Q for the quarter ended June 30, 2025, have been resolved.

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

No accounting pronouncements were recently adopted by Kodak.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires disclosure of additional categories of information about federal, state and foreign income taxes in the rate reconciliation table and more details about the reconciling items in some categories if items meet a quantitative threshold. The ASU requires entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. The ASU is required to be applied prospectively, with the option to apply it retrospectively. The ASU is effective for Kodak for the fiscal year ending December 31, 2025, and the required disclosures will be included in Kodak's Form 10-K for the year ending December 31, 2025. As

the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires public business entities to disclose specified information about certain costs and expenses, including but not limited to purchases of inventory, employee compensation, depreciation, and intangible asset amortization, in a tabular format within the notes to their financial statements, as well as provide additional disclosures related to certain other specified expenses. The ASU may be applied on either a prospective or retrospective basis and is effective for annual reporting periods beginning after December 15, 2026 (January 1, 2027 for Kodak) and interim reporting periods beginning after December 15, 2027 (January 1, 2028 for Kodak). As the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting for internal-use software to reflect the evolution of software development to using an incremental and iterative development method. Accordingly, the ASU removes all references in Subtopic 350-40 to prescriptive and sequential software development phases (or “project stages”), and requires an entity to start capitalizing software costs when both (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. The ASU may be applied using either a prospective, retrospective, or modified transition approach, and is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within such annual reporting periods (January 1, 2028 for Kodak). The Company is currently evaluating the impact of this ASU.