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Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2019
Property Plant and Equipment Estimated Useful Lives

Kodak calculates depreciation expense using the straight-line method over the assets’ estimated useful lives, which are as follows:

 

 

 

Estimated Useful Lives

Buildings and building improvements

 

5-40

Land improvements

 

4-20

Leasehold improvements

 

3-20

Equipment

 

3-20

Tooling

 

1-3

Furniture and fixtures

 

5-10
ASU 2016-02 [Member]  
Summary of Impact of Adoption on Consolidated Statement of Financial Position

The impact of adoption on the Consolidated Statement of Financial Position is presented below:

(in millions)

Balance at December 31, 2018

 

Adjustments Due to

ASU 2016-02

 

Balance at January 1,

2019

 

Operating lease right-of-use assets

$

—

 

$

51

 

$

51

 

Operating lease liabilities

 

—

 

 

61

 

 

61

 

Deferred rent payable (1)

 

10

 

 

(10

)

 

—

 

Deferred gain on previous sale leaseback transaction (1)

 

6

 

 

(6

)

 

—

 

Net fixed assets from previous sale leaseback transaction

 

1

 

 

(1

)

 

—

 

Accumulated deficit

 

200

 

 

(5

)

 

195

 

 

 

(1)

Deferred amounts were previously reported in Other current liabilities ($2 million) and Other long-term liabilities ($14 million) in the Consolidated Statements of Financial Position.