XML 27 R18.htm IDEA: XBRL DOCUMENT v3.25.3
Note 9 - Revenue
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue

NOTE 9: REVENUE

Disaggregation of Revenue

The following tables present revenue disaggregated by major product and geography:

Major Product:

 

Three Months Ended

 

September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

120

 

 

 

$

8

 

 

$

—

 

 

$

—

 

 

$

128

 

Ongoing service arrangements

 

 

38

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

38

 

Total annuities

 

 

158

 

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

166

 

Equipment & software

 

 

19

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

19

 

Film and chemicals

 

 

—

 

 

 

 

74

 

 

 

—

 

 

 

—

 

 

 

74

 

Total Core

 

 

177

 

 

 

 

82

 

 

 

—

 

 

 

—

 

 

 

259

 

Other (3)

 

 

—

 

 

 

 

—

 

 

 

6

 

 

 

4

 

 

 

10

 

Total

 

$

177

 

 

 

 

$

82

 

 

$

6

 

 

$

4

 

 

$

269

 

 

Nine Months Ended

 

September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

363

 

 

$

21

 

 

$

—

 

 

$

—

 

 

$

384

 

Ongoing service arrangements

 

 

109

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

109

 

Total annuities

 

 

472

 

 

 

21

 

 

 

—

 

 

 

—

 

 

 

493

 

Equipment & software

 

 

48

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

48

 

Film and chemicals

 

 

—

 

 

 

208

 

 

 

—

 

 

 

—

 

 

 

208

 

Total Core

 

 

520

 

 

 

229

 

 

 

—

 

 

 

—

 

 

 

749

 

Growth products (2)

 

 

—

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

2

 

Other (3)

 

 

—

 

 

 

—

 

 

 

16

 

 

 

12

 

 

 

28

 

Total

 

$

520

 

 

$

231

 

 

$

16

 

 

$

12

 

 

$

779

 

 

Three Months Ended

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

126

 

 

$

7

 

 

$

—

 

 

$

—

 

 

$

133

 

Ongoing service arrangements

 

 

38

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

38

 

Total annuities

 

 

164

 

 

 

7

 

 

 

—

 

 

 

—

 

 

 

171

 

Equipment & software

 

 

18

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18

 

Film and chemicals

 

 

—

 

 

 

63

 

 

 

—

 

 

 

—

 

 

 

63

 

Total Core

 

 

182

 

 

 

70

 

 

 

—

 

 

 

—

 

 

 

252

 

Growth products (2)

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Other (3)

 

 

—

 

 

 

—

 

 

 

5

 

 

 

3

 

 

 

8

 

Total

 

$

182

 

 

$

71

 

 

$

5

 

 

$

3

 

 

$

261

 

 

Nine Months Ended

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

388

 

 

$

20

 

 

$

—

 

 

$

—

 

 

$

408

 

Ongoing service arrangements

 

 

118

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

118

 

Total annuities

 

 

506

 

 

 

20

 

 

 

—

 

 

 

—

 

 

 

526

 

Equipment & software

 

 

44

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

45

 

Film and chemicals

 

 

—

 

 

 

179

 

 

 

—

 

 

 

—

 

 

 

179

 

Total Core

 

 

550

 

 

 

200

 

 

 

—

 

 

 

—

 

 

 

750

 

Growth products (2)

 

 

—

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

3

 

Other (3)

 

 

—

 

 

 

—

 

 

 

13

 

 

 

11

 

 

 

24

 

Total

 

$

550

 

 

$

203

 

 

$

13

 

 

$

11

 

 

$

777

 

 

(1) Core includes the Print segment and the Motion Picture and Industrial Film and Chemicals businesses within the Advanced

Materials and Chemicals segment, excluding coating and product commercialization services (“Coating Services”).

 

(2) Growth consists of Coating Services, Analytical Services and Advanced Materials and Functional Printing within the Advanced

Materials and Chemicals segment.

 

(3) Other consists of Intellectual Property Licensing ("IP Licensing") within the Advanced Materials and Chemicals segment, Brand

Licensing and Eastman Business Park.

Geography (1):

 

Three Months Ended

 

September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

60

 

 

$

61

 

 

$

6

 

 

$

4

 

 

$

131

 

Canada

 

 

7

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7

 

North America

 

 

67

 

 

 

61

 

 

 

6

 

 

 

4

 

 

 

138

 

Europe, Middle East and Africa

 

 

70

 

 

 

9

 

 

 

—

 

 

 

—

 

 

 

79

 

Asia Pacific

 

 

35

 

 

 

11

 

 

 

—

 

 

 

—

 

 

 

46

 

Latin America

 

 

5

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

6

 

Total

 

$

177

 

 

$

82

 

 

$

6

 

 

$

4

 

 

$

269

 

 

Nine Months Ended

 

September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

171

 

 

$

174

 

 

$

16

 

 

$

12

 

 

$

373

 

Canada

 

 

14

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

15

 

North America

 

 

185

 

 

 

175

 

 

 

16

 

 

 

12

 

 

 

388

 

Europe, Middle East and Africa

 

 

211

 

 

 

24

 

 

 

—

 

 

 

—

 

 

 

235

 

Asia Pacific

 

 

112

 

 

 

31

 

 

 

—

 

 

 

—

 

 

 

143

 

Latin America

 

 

12

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

13

 

Total

 

$

520

 

 

$

231

 

 

$

16

 

 

$

12

 

 

$

779

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

56

 

 

$

56

 

 

$

5

 

 

$

3

 

 

$

120

 

Canada

 

 

4

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

5

 

North America

 

 

60

 

 

 

57

 

 

 

5

 

 

 

3

 

 

 

125

 

Europe, Middle East and Africa

 

 

74

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

80

 

Asia Pacific

 

 

43

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

51

 

Latin America

 

 

5

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

Total

 

$

182

 

 

$

71

 

 

$

5

 

 

$

3

 

 

$

261

 

 

Nine Months Ended

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

173

 

 

$

161

 

 

$

13

 

 

$

11

 

 

$

358

 

Canada

 

 

11

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

13

 

North America

 

 

184

 

 

 

163

 

 

 

13

 

 

 

11

 

 

 

371

 

Europe, Middle East and Africa

 

 

234

 

 

 

17

 

 

 

—

 

 

 

—

 

 

 

251

 

Asia Pacific

 

 

118

 

 

 

23

 

 

 

—

 

 

 

—

 

 

 

141

 

Latin America

 

 

14

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

Total

 

$

550

 

 

$

203

 

 

$

13

 

 

$

11

 

 

$

777

 

 

(1) Sales are reported in the geographic area in which they originate.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed trade receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the Consolidated Statement of Financial Position. The contract assets are transferred to trade receivables when the rights to consideration become unconditional. The amount recorded for contract assets at both September 30, 2025 and December 31, 2024 was $5 million, and was reported in Other current assets in the Consolidated Statement of Financial Position. The contract liabilities primarily relate to brand licensing agreements, prepaid service contracts or upfront payments for certain equipment purchases. The amount recorded for contract liabilities in the Consolidated Statement of Financial Position at September 30, 2025 and December 31, 2024 was $98 million and $92 million, respectively, of which $45 million and $35 million, respectively, was reported in Other current liabilities and $53 million and $57 million, respectively, was reported in Other long-term liabilities.

Revenue recognized for the three and nine months ended September 30, 2025 and 2024 that was included in the contract liability balance at the beginning of the period was $9 million and $26 million, respectively, in 2025 and $9 million and $29 million, respectively, in 2024 and primarily represented revenue from prepaid service contracts and equipment sales. Contract liabilities as of September 30, 2025 included $21 million and $32 million of cash payments received during the three and nine months ended September 30, 2025, respectively. Contract liabilities as of September 30, 2024 included $17 million and $24 million of cash payments received during the three and nine months ended September 30, 2024, respectively.

Kodak does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less or for which revenue is recognized at the amount to which Kodak has the right to invoice for services performed.

Performance obligations with an original expected length of greater than one year generally consist of deferred service contracts, operating leases and licensing arrangements. As of September 30, 2025, there was approximately $86 million of unrecognized revenue from unsatisfied performance obligations. Approximately 5% of the revenue from unsatisfied performance obligations is expected to be recognized in the remainder of 2025, 15% in each of 2026 , 2027 and 2028 and 50% thereafter.