Note 12 - Income Taxes

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 12: INCOME TAXES

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2017			2016			2017			2016
(Loss) earnings from continuing operations before income taxes	$	(58	)	$	15		$	(37	)	$	23
Effective tax rate		22.4	%		20.0	%		16.2	%		69.6	%
(Benefit) provision for income taxes		(13	)		3			(6	)		16
(Benefit) provision for income taxes @ 35%		(20	)		5			(13	)		8
Difference between tax at effective vs. statutory rate	$	7		$	(2	)	$	7		$	8

For the three and nine months ended September 30, 2017, the difference between Kodak’s recorded (benefit) provision and the (benefit) provision, respectively, that would result from applying the U.S. statutory rate of 35.0% is primarily attributable to: (1) the impact related to existing valuation allowances associated with changes in net deferred tax assets from current earnings and losses, (2) the results from operations in jurisdictions outside the U.S., (3) a benefit associated with the tax impact of a goodwill impairment, and (4) changes in audit reserves, including settlements with taxing authorities in locations outside the U.S.

For the three and nine months ended September 30, 2016, the difference between Kodak’s recorded provision and the provision that would result from applying the U.S. statutory rate of 35.0% is primarily attributable to: (1) the impact related to existing valuation allowances associated with changes in net deferred tax assets from current earnings and losses, (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.