Note 10 - Income Taxes

9 Months Ended

Sep. 30, 2016

Disclosure Text Block [Abstract]

Income Tax Disclosure [Text Block]

NOTE 10: INCOME TAXES

Kodak’s income tax provision (benefit) and effective tax rate were as follows:

	Three Months Ended						Nine Months Ended
(in millions)	September 30,						September 30,
	2016			2015			2016			2015
Earnings (loss) from continuing operations before income taxes	$	26		$	8		$	50		$	(31	)
Effective tax rate		15.4	%		175.0	%		32.0	%		(87.1	)%
Provision for income taxes		4			14			16			27
Provision (benefit) for income taxes @ 35%		9			3			18			(11	)
Difference between tax at effective vs. statutory rate	$	(5	)	$	11		$	(2	)	$	38

For the three and nine months ended September 30, 2016, the difference between the Company’s recorded provision and the provision that would result from applying the U.S. statutory rate of 35.0% is primarily attributable to: (1) losses generated within the U.S. and certain jurisdictions outside the U.S. for which no benefit was recognized due to management’s conclusion that it was more likely than not that the tax benefits would not be realized, (2) the results from operations in jurisdictions outside the U.S., (3) a provision associated with foreign withholding taxes on undistributed earnings and (4) changes in audit reserves.

For the three and nine months ended September 30, 2015, the difference between the Company’s recorded provision and the provision or benefit, (as applicable), that would result from applying the U.S. statutory rate of 35.0% is primarily attributable to: (1) losses generated within the U.S. and certain jurisdictions outside the U.S. for which no benefit was recognized due to management’s conclusion that it was more likely than not that the tax benefits would not be realized, (2) the results from operations in jurisdictions outside the U.S. and (3) a provision associated with foreign withholding taxes on undistributed earnings.