Note 16 - Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Derivatives Not Designated as Hedging Instruments

The net effect of foreign currency forward contracts in the results of operations is shown in the following table:

	Three Months Ended
	March 31,
(in millions)	2022		2021
Net loss from derivatives not designated as    hedging instruments	$	3	$	3

Derivative Liability Key Inputs in Determination of Fair Value for Embedded Conversion Features

The following tables present the key inputs in the determination of fair value for the embedded conversion features:

2021 Convertible Notes:

	Valuation Date
	March 31,			December 31,
	2022			2021
Total value of embedded derivative liability ($ millions)	$	8		$	4
Kodak's closing stock price	$	6.55		$	4.68
Expected stock price volatility		45.00	%		36.00	%
Risk free rate		2.43	%		1.17	%
Implied credit spread on the Convertible Notes		20.60	%		18.89	%

Series B Preferred Stock:

	Valuation Date
	March 31,			December 31,
	2022			2021
Total value of embedded derivative liability ($ millions)	$	1		$	1
Kodak's closing stock price	$	6.55		$	4.68
Expected stock price volatility		45.00	%		36.00	%
Risk free rate		2.43	%		1.17	%
Implied credit spread on the preferred stock		21.10	%		19.39	%

Series C Preferred Stock:

	Valuation Date
	March 31,			December 31,
	2022			2021
Total value of embedded derivative liability    ($ millions)	$	1		$	2
Kodak's closing stock price	$	6.55		$	4.68
Expected stock price volatility		45.00	%		36.00	%
Risk free rate		2.43	%		1.17	%
Implied credit spread on the preferred stock		23.10	%		21.39	%