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Consolidated Statement of Cash Flow - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net earnings (loss) $ 24 $ (541) $ 116
Adjustments to reconcile to net cash (used in) provided by operating activities:      
Depreciation and amortization 31 37 55
Pension and other postretirement income (83) (77) (91)
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives [1] (7) 382 42
Asset impairments [2],[3]   3 6
Stock based compensation 7 15 7
Non-cash changes in workers' compensation and postemployment reserves (4) 4 3
Net losses (gains) on sales of businesses/assets 1 (10) (201)
Loss on early extinguishment of debt   2  
(Benefit) provision for deferred income taxes (1) 160 21
(Increase) decrease in trade receivables (5) 33 21
(Increase) decrease in inventories (19) 12 11
Increase (decrease) in trade accounts payable 38 (36) 25
Decrease in liabilities excluding borrowings (29) (26) (10)
Other items, net   7 7
Total adjustments (71) 506 (104)
Net cash (used in) provided by operating activities (47) (35) 12
Cash flows from investing activities:      
Additions to properties (21) (17) (15)
Net proceeds from sales of businesses/assets, net 1 2 326
Net proceeds from return of equity investment   2  
Net cash (used in) provided by investing activities (20) (13) 311
Cash flows from financing activities:      
Net proceeds from the Term Loan Credit Agreement 215    
Proceeds from issuance of Convertible Notes 25   98
Net proceeds from Series C Preferred Stock 99    
Net proceeds from the sale of common stock 10    
Repurchase of Series A Preferred Stock (100)    
Debt issuance costs (2)    
Repayment of emergence credit facilities     (395)
Proceeds from other borrowings     14
Proceeds from stock option exercises   33  
Preferred stock dividend payments (7) (22) (3)
Treasury stock purchases (1)    
Payment of contingent consideration related to the sale of a business     (10)
Repayment of other borrowings (1)    
Finance lease payments (1) (1) (2)
Net cash provided by (used in) financing activities 238 10 (298)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (4) 4 (2)
Net increase (decrease) in cash, cash equivalents, restricted cash and cash in assets held for sale 167 (34) 23
Cash, cash equivalents, restricted cash and cash in assets held for sale, beginning of period 256 [4] 290 [4] 267
Cash, cash equivalents and restricted cash, end of period [4] 423 256 290
Cash paid for interest and income taxes was:      
Interest 14 8 21
Income taxes (net of refunds) $ 2 $ 8 $ 17
[1] Refer to Note 13, “Financial Instruments”.
[2]

In the first quarter of 2020 and the fourth quarter of 2019, Kodak recorded impairment charges of $3 million and $4 million, respectively, related to the Kodak trade name. Refer to Note 5, “Goodwill and Other Intangible Assets”.

[3] In the fourth quarter of 2019, Kodak determined the carrying value of one building no longer in use exceeded its fair value and recorded an impairment charge of $2 million.
[4]

Refer to Note 2, “Cash, Cash Equivalents and Restricted Cash” for the components of cash, cash equivalents and restricted cash.