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Note 10 - Other Operating (Income) Expense, Net (Tables)
6 Months Ended
Jun. 30, 2017
Table [Text Block]  
Schedule of Other Operating Expense (Income), by Component [Table Text Block]

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(in millions)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

(Income) expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prosper asset remeasurement (1)

 

$

 

 

$

 

 

$

12

 

 

$

 

Asset impairments (2) (3)

 

 

2

 

 

 

1

 

 

 

2

 

 

 

25

 

Legal settlements (4)

 

 

 

 

 

 

 

 

 

 

 

(10

)

Gain on sale of assets (5)

 

 

 

 

 

(7

)

 

 

(2

)

 

 

(7

)

Total

 

$

2

 

 

$

(6

)

 

$

12

 

 

$

8

 

 

(1)

In the first quarter of 2017, Kodak reduced the carrying value of Prosper fixed assets ($8 million) and intangible assets ($4 million) to the amount that would have been recorded had the Prosper assets been continuously classified as held and used. Refer to Note 21, “Discontinued Operations”.

 

(2)

In the first quarter of 2016, due to the exit of its position in silver metal mesh touch screen development, Kodak concluded that the carrying value of property, plant and equipment associated with those operations exceeded their fair value.  Kodak recorded pre-tax impairment charges in the quarter and six months ended June 30, 2016 of $1 million and $12 million, respectively.  Kodak also wrote off related intangible assets with a gross carrying amount of $14 million and accumulated amortization of $6 million and recorded an impairment charge of $8 million.

(3)

In the first quarter of 2016, Kodak concluded the carrying value of the Kodak trade name exceeded its fair value and recorded an impairment charge of $5 million related to the Kodak trade name.  

(4)

In the first quarter of 2016, Kodak received $10 million representing net litigation proceeds from DuPont.

(5)

On June 30, 2016, Kodak sold certain assets of its brand protection business to eApeiron Solutions Inc. in exchange for cash consideration of approximately $6 million and an equity investment of 19.9%.  Kodak is accounting for this investment under the equity method of accounting.  Kodak recognized a gain of approximately $7 million on this transaction.