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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net earnings $ 102 $ 75 $ 26
Depreciation and amortization 28 30 29
Pension and other postretirement income (155) (145) (77)
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives 0 2 (3)
Asset impairments [1],[2],[3] 4 5 1
Stock based compensation 6 7 5
Non-cash changes in workers' compensation and other employee benefit reserves (2) (1) (15)
Net gain on sales of assets (17) 0 0
Loss on early extinguishment of debt 0 27 0
Benefit from deferred income taxes (1) (1) (3)
Decrease (increase) in trade receivables 51 (16) (12)
Decrease (increase) in miscellaneous receivables 1 6 (1)
(Increase) decrease in inventories (7) 19 (31)
Decrease in trade accounts payable (3) (14) (12)
(Decrease) increase in liabilities excluding borrowings and trade payables (46) 21 (36)
Other items, net 32 23 13
Total adjustments (109) (37) (142)
Net cash (used in) provided by operating activities (7) 38 (116)
Cash flows from investing activities:      
Additions to properties (56) (32) (31)
Purchase of preferred equity interest 0 0 (25)
Net proceeds from sales of assets 17 0 0
Net cash used in investing activities (39) (32) (56)
Cash flows from financing activities:      
Net proceeds from Amended and Restated Term Loan Agreement 0 435 0
Repayment of Convertible Notes 0 (28) 0
Other debt acquisition costs 0 (1) 0
Preferred stock cash dividend payments (4) (4) (4)
Treasury stock purchases (1) 0 (1)
Finance lease payments (1) (1) (1)
Net cash (used in) provided by financing activities (23) 85 43
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7) 0 (8)
Net (decrease) increase in cash, cash equivalents and restricted cash (76) 91 (137)
Cash, cash equivalents and restricted cash, beginning of period 377 [4] 286 [4] 423
Cash, cash equivalents and restricted cash, end of period (1) [4] 301 377 286
Cash paid for interest and income taxes was:      
Interest (net of portion capitalized of $6 in 2024 and $3 in both 2023 and 2022) 31 26 23
Income taxes (net of refunds) 13 9 6
Amended and Restated Term Loan Agreement [Member]      
Cash flows from financing activities:      
Repayment of debt (17)    
Original Term Loan Credit Agreement [Member]      
Cash flows from financing activities:      
Net proceeds from debt 0 0 49
Repayment of debt $ 0 $ (316) $ 0
[1] In the fourth quarter of 2022, Kodak recorded an impairment charge of $1 million related to the Kodak trade name. Refer to Note 5, "Goodwill and Other Intangible Assets."
[2] In the fourth quarter of 2023, Kodak recorded a long-lived asset impairment charge of $4 million related to the EPS business, within the Print segment, due to the continued impacts of the decision to cease manufacturing of the EPS equipment products. The fair value of EPS was estimated using a discounted cash flow method (Level 3).
[3] In the fourth quarter of 2024, Kodak recorded a long-lived asset impairment charge of $4 million related to the Light Blocking business, within the Advanced Materials and Chemicals segment, as a result of lower forecasted cash flows as the business continues to explore strategic alternatives in order to commercialize this technology. The fair value of Light Blocking was estimated using a discounted cash flow method (Level 3).
[4] Refer to Note 2, “Cash, Cash Equivalents and Restricted Cash” for the components of cash, cash equivalents and restricted cash.