Note 13 - Retirement Plans And Other Postretirement Benefits

3 Months Ended

Mar. 31, 2013

Pension and Other Postretirement Benefits Disclosure [Text Block]

NOTE 13:  RETIREMENT PLANS AND OTHER POSTRETIREMENT BENEFITS

Components of the net periodic benefit cost for all major funded and unfunded U.S. and Non-U.S. defined benefit plans for the three months ended March 31, 2013 and 2012 are as follows:

	Three Months Ended
	March 31,
(in millions)	2013						2012
	U.S.			Non-U.S.			U.S.			Non-U.S.
Major defined benefit plans:
Service cost	$	8		$	2		$	12		$	4
Interest cost		43			36			54			39
Expected return on plan assets		(87	)		(40	)		(97	)		(44	)
Amortization of:
Recognized prior service cost		-			1			-			1
Recognized net actuarial loss		49			21			43			17
Pension expense before     special termination benefits		13			20			12			17
Special termination benefits		-			-			54			-
Net pension expense		13			20			66			17
Other plans including unfunded   plans		-			6			-			4
Total net pension expense   from continuing operations	$	13		$	26		$	66		$	21

For the three months ended March 31, 2012, $54 million of special termination benefits charges were incurred as a result of Kodak’s restructuring actions.  These charges have been included in Restructuring costs and other in the Consolidated Statement of Operations.

Kodak made contributions (funded plans) or paid benefits (unfunded plans) totaling approximately $13 million relating to its major U.S. and non-U.S. defined benefit pension plans for the three months ended March 31, 2013.  The Company forecasts its contribution (funded plans) and benefit payment (unfunded plans) requirements for its major U.S. and non-U.S. defined benefit pension plans for the balance of 2013 to be approximately $23 million, exclusive of any payments to be determined through the Bankruptcy Proceedings for the U.S. non-qualified pension plans, as well as any payments to be made to the KPP as a part of the Global Settlement agreement reached with the Trustee of the KPP.

Postretirement benefit costs for the Company's U.S. and Canada postretirement benefit plans, which represent the Company's major postretirement plans, include:

	Three Months Ended
	March 31,
(in millions)	2013			2012
Service cost	$	-		$	-
Interest cost		1			13
Amortization of:
Prior service credit		(28	)		(19	)
Recognized net actuarial loss		1			8
Total net postretirement benefit (income) expense	$	(26	)	$	2

Kodak paid benefits totaling approximately $3 million relating to its U.S. and Canada postretirement benefit plans for the three months ended March 31, 2013.  Kodak expects to pay benefits of approximately $13 million for these postretirement plans for the remainder of 2013.

The change in net postretirement benefit expense from the three months ended March 31, 2012 to the three months ended March 31, 2013 is primarily the result of modification, in 2012, of benefits provided by the U.S. postretirement benefit plan.