Note 16 - Retirement Plans And Other Postretirement Benefits

9 Months Ended

Sep. 30, 2013

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

NOTE 16:  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 one month ended September 30, 2013 (Successor) and the two and eight months ended August 31, 2013 (Predecessor) and the three and nine months ended September 30, 2012 (Predecessor) are as follows:

	Successor						Predecessor												Successor						Predecessor
	One Month Ended September 30, 2013						Two Months Ended August 31, 2013						Three Months Ended September 30, 2012						One Month Ended September 30, 2013						Eight Months Ended August 31, 2013						Nine Months Ended September 30, 2012
(in millions)
	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
Major defined benefit plans:
Service cost	$	1		$	1		$	4		$	1		$	12		$	2		$	1		$	1		$	20		$	6		$	36		$	8
Interest cost		17			3			34			24			51			38			17			3			120			95			155			116
Expected return on plan assets		(30	)		(4	)		(63	)		(27	)		(97	)		(39	)		(30	)		(4	)		(236	)		(107	)		(292	)		(123	)
Amortization of:
Prior service cost		-			-			1			-			1			1			-			-			1			1			1			2
Net actuarial loss		-			-			25			14			43			17			-			-			124			56			130			50
Pension (income) expense before special termination benefits		(12	)		-			1			12			10			19			(12	)		-			29			51			30			53
Special termination benefits		-			-			-			-			42			-			-			-			-			-			98			-
Curtailment (gain) loss		-			-			(1	)		-			-			(1	)		-			-			-			13			-			(1	)
Settlement loss		-			-			-			114			-			1			-			-			-			114			-			2
Net pension (income) expense		(12	)		-			-			126			52			19			(12	)		-			29			178			128			54
Other plans including unfunded plans		-			1			-			(1	)		-			3			-			1			-			7			-			9
Total net pension (income) expense	$	(12	)	$	1		$	-		$	125		$	52		$	22		$	(12	)	$	1		$	29		$	185		$	128		$	63

The pension (income) expense before special termination benefits, curtailments, and settlements reported above for the one month ended September 30, 2013 (Successor) and the two and eight months ended August 31, 2013 (Predecessor) includes $0, $9 million and $38 million, respectively, which was reported as Discontinued operations. The Pension expense before special termination benefits, curtailments, and settlements reported above for the three and nine months ended September 30, 2012 includes $16 million and $46 million, respectively, which was reported as Discontinued operations.

For the three and nine months ended September 30, 2012, the $42 million and $98 million, respectively, 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. For the two months ended August 31, 2013 (Predecessor), $(1) million of curtailment gains were recognized as a result of EKC’s emergence from chapter 11 and have been included in Reorganization items, net in the Consolidated Statement of Operations.  The $114 million of settlement losses for the two months ended August 31, 2013 were incurred as a result of the Global Settlement, and have been included in Discontinued operations in the Consolidated Statement of Operations.

Kodak made contributions (funded plans) or paid benefits (unfunded plans) totaling approximately $1 million and $23 million relating to its major U.S. and non-U.S. defined benefit pension plans for the one month ended September 30, 2013 (Successor) and the eight months ended August 31, 2013 (Predecessor), respectively, exclusive of payments made to the U.K. Pension Plan as a part of the Global Settlement agreement reached with the Trustee. Kodak 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 $14 million.

Remeasurement events in the eight months ended August 31 2013 resulted in the required remeasurement of certain of the plans’ obligations which decreased the retirement and other postretirement benefit plan obligation by $226 million.

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

	Successor		Predecessor						Successor		Predecessor
(in millions)	One Month Ended September 30, 2013		Two Months Ended August 31, 2013			Three Months Ended September 30, 2012			One Month Ended September 30, 2013		Eight Months Ended August 31, 2013			Nine Months Ended September 30, 2012
Service cost	$	-	$	-		$	1		$	-	$	-		$	1
Interest cost		-		1			13			-		3			39
Amortization of:										-
Prior service credit		-		(18	)		(20	)		-		(75	)		(58	)
Net actuarial loss		-		-			8			-		3			23
Total net postretirement benefit (income) expense	$	-	$	(17	)	$	2		$	-	$	(69	)	$	5

Kodak paid benefits, net of participant contributions, totaling approximately $1 million and $2 million relating to its U.S. and Canada postretirement benefit plans for the one month ended September 30, 2013 (Successor) and the eight months ended August 31, 2013 (Predecessor).  Kodak expects to pay benefits, net of participant contributions, of approximately $1 million for these postretirement plans for the remainder of 2013.

The change in net postretirement benefit expense from the nine months ended September 30, 2012 to the one month ended September 30, 2013 (Successor) and the eight months ended August 31, 2013 (Predecessor) is primarily the result of modification, in 2012, of benefits provided by the U.S. postretirement benefit plan.