Note 5 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

NOTE 5: GOODWILL AND OTHER INTANGIBLE ASSETS

The following table presents the changes in the carrying value of goodwill by reportable segment.

				Advanced
				Materials and					Consolidated
(in millions)	Print			Chemicals			Brand		Total
Balance as of December 31, 2022	$	6		$	—		$	6	$	12
Impairment		—			—			—		—
As of December 31, 2023		6			—			6		12
Impairment		—			—			—		—
As of December 31, 2024	$	6		$	—		$	6	$	12
Gross goodwill	$	62		$	8		$	6	$	76
Accumulated impairment losses		(56	)		(8	)		—		(64	)
Balance as of December 31, 2024	$	6		$	—		$	6	$	12

The Print segment has four goodwill reporting units: Prepress Solutions; Electrophotographic Printing Solutions; Prosper; and Software. The Advanced Materials and Chemicals segment has two goodwill reporting units: Motion Picture and Industrial Films and Chemicals; and Advanced Materials and Functional Printing. The Brand segment has one goodwill reporting unit. As of December 31, 2024, goodwill is only recorded in the Brand and Software reporting units.

Based upon the results of Kodak’s December 31, 2024 and 2023 annual impairment tests, no impairment of goodwill was indicated. As of December 31, 2024 and 2023 the carrying value of the Brand reporting unit was negative.

The gross carrying amount and accumulated amortization by major intangible asset category as of December 31, 2024 and 2023 were as follows:

	As of December 31, 2024
							Weighted Average
							Remaining
	Gross Carrying		Accumulated				Amortization Period
(in millions)	Amount		Amortization		Net		(in years)
Technology-based	$	99	$	96	$	3	1 year
Kodak trade name		17		—		17	Indefinite
Customer-related and other		9		9		—	N/A
Total	$	125	$	105	$	20

	As of December 31, 2023
							Weighted Average
							Remaining
	Gross Carrying		Accumulated				Amortization Period
(in millions)	Amount		Amortization		Net		(in years)
Technology-based	$	99	$	92	$	7	2 years
Kodak trade name		17		—		17	Indefinite life
Customer-related		9		9		—	N/A
Total	$	125	$	101	$	24

Based on the results of Kodak’s December 31, 2024 annual impairment test, no impairment of Kodak's trade name was indicated. Based on the results of Kodak’s December 31, 2023 annual impairment test, the carrying value of the Kodak trade name exceeded its

fair value and Kodak recorded a pre-tax impairment charge of less than $1 million. The impairment charge was included in Other operating (income) expense, net in the Consolidated Statement of Operations.

Amortization expense related to intangible assets was $4 million for both of the years ended December 31, 2024 and 2023 and $5 million for the year ended December 31, 2022.

Estimated amortization expense for 2025 related to intangible assets that are currently being amortized as of December 31, 2024 is $3 million.