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Note 9 - Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

NOTE 11: REVENUE

Disaggregation of Revenue

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

Major Product:

 

Three Months Ended

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products and services (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

125

 

 

$

6

 

 

$

—

 

 

$

—

 

 

$

131

 

Ongoing service arrangements

 

 

34

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

34

 

Total annuities

 

 

159

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

165

 

Equipment & software

 

 

21

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

21

 

Film and chemicals

 

 

—

 

 

 

69

 

 

 

—

 

 

 

—

 

 

 

69

 

Total core products and services

 

 

180

 

 

 

75

 

 

 

—

 

 

 

—

 

 

 

255

 

Growth products (2)

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Other (3)

 

 

—

 

 

 

—

 

 

 

6

 

 

 

3

 

 

 

9

 

   Total

 

$

180

 

 

$

76

 

 

$

6

 

 

$

3

 

 

$

265

 

 

Three Months Ended

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products and services (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

114

 

 

$

7

 

 

$

—

 

 

$

—

 

 

$

121

 

Ongoing service arrangements

 

 

36

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

36

 

Total annuities

 

 

150

 

 

 

7

 

 

 

—

 

 

 

—

 

 

 

157

 

Equipment & software

 

 

15

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15

 

Film and chemicals

 

 

—

 

 

 

66

 

 

 

—

 

 

 

—

 

 

 

66

 

Total core products and services

 

 

165

 

 

 

73

 

 

 

—

 

 

 

—

 

 

 

238

 

Growth products (2)

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Other (3)

 

 

—

 

 

 

—

 

 

 

4

 

 

 

4

 

 

 

8

 

Total

 

$

165

 

 

$

74

 

 

$

4

 

 

$

4

 

 

$

247

 

 

(1)
Core products and services 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 products consist 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

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

67

 

 

$

58

 

 

$

6

 

 

$

3

 

 

$

134

 

Canada

 

 

3

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

4

 

North America

 

 

70

 

 

 

59

 

 

 

6

 

 

 

3

 

 

 

138

 

Europe, Middle East and Africa

 

 

67

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

75

 

Asia Pacific

 

 

40

 

 

 

9

 

 

 

—

 

 

 

—

 

 

 

49

 

Latin America

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3

 

Total

 

$

180

 

 

$

76

 

 

$

6

 

 

$

3

 

 

$

265

 

 

Three Months Ended

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

52

 

 

$

59

 

 

$

4

 

 

$

4

 

 

$

119

 

Canada

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3

 

North America

 

 

55

 

 

 

59

 

 

 

4

 

 

 

4

 

 

 

122

 

Europe, Middle East and Africa

 

 

68

 

 

 

7

 

 

 

—

 

 

 

—

 

 

 

75

 

Asia Pacific

 

 

38

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

46

 

Latin America

 

 

4

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

Total

 

$

165

 

 

$

74

 

 

$

4

 

 

$

4

 

 

$

247

 

 

(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 amounts recorded for contract assets at both March 31, 2026 and December 31, 2025 was $5 million and is 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 amounts recorded for contract liabilities in the Consolidated Statement of Financial Position at March 31, 2026 and December 31, 2025 was $91 million and $94 million, respectively, of which $41 million and $42 million, respectively, was reported in Other current liabilities and $50 million and $52 million, respectively, was reported in Other long-term liabilities.

Revenue recognized for the three months ended March 31, 2026 and 2025 that was included in the contract liability balance at the beginning of the respective fiscal years was $27 million and $19 million, respectively, and primarily represented revenue from prepaid service contracts and equipment sales. Contract liabilities included $23 million and $18 million of cash payments received during the three months ended March 31, 2026 and 2025, 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 March 31, 2026, there was approximately $80 million of unrecognized revenue from unsatisfied performance obligations. Approximately 15% of the revenue from unsatisfied performance obligations is expected to be recognized in the remainder of 2026, 15% in 2027, 10% in each of 2028 and 2029 and 50% thereafter.