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Note 4 - Long-term Liabilities - Summary of Other Long-Term Liabilities (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Workers' compensation $ 55 $ 59
Asset retirement obligations 43 43
Deferred taxes 27 27
Deferred brand licensing revenue (1) [1] 64 11
Environmental liabilities 8 8
Embedded conversion options derivative liability 2 4
Other 18 19
Total $ 217 $ 171
[1] During the third quarter of 2023, Kodak entered into multiple long-term brand licensing arrangements and recorded additional deferred revenue of approximately $57 million, of which $54 million is recorded in Other long-term liabilities and $3 million in Other current liabilities on the Consolidated Statement of Financial Position. Kodak received approximately $8 million of cash proceeds related to these licensing arrangements during the third quarter and approximately $44 million and $5 million, respectively was recorded as an offset in Trade Receivables, net and Other long-term assets on the Consolidated Statement of Financial Position. Kodak will recognize the total deferred revenue amount ratably over the term of the respective arrangements, ranging from five to twenty years. Kodak determined that the contracts did not have a significant financing component.