Note 6 - Other Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

Other Liabilities Current [Abstract]

	March 31,		December 31,
(in millions)	2020		2019
Employee related liabilities	$	38	$	38
Deferred revenue		38		43
Customer rebates		18		23
Deferred consideration on disposed businesses ⁽¹⁾		14		14
Series A Preferred Stock dividends payable		14		14
Workers compensation		10		10
Restructuring liabilities		10		12
Transition services agreement prepayment		—		3
Other		33		44
Total	$	175	$	201

(1)

On September 3, 2013, Kodak consummated the sale of certain assets and the assumption of certain liabilities of the Personalized Imaging and Document Imaging Businesses (“PI/DI Businesses”) to the trustee of the U. K. pension plan (and/or its subsidiaries) for net cash consideration of $325 million. Up to $35 million in aggregate of the purchase price is subject to repayment if the PI/DI Business does not achieve certain annual adjusted EBITDA targets over the four-year period ending December 31, 2018. The PI/DI Business did not achieve the adjusted annual EBITDA target for any year in the four-year period. The amounts owed for 2015, 2016 and 2017 were paid in 2016, 2017 and 2019, respectively. The maximum potential payment related to the year ending December 31, 2018 of $14 million was accrued at the time of the divestiture of the business. The Company does not consider the procedural requirements giving rise to the obligation to pay the amount relating to the year ended December 31, 2018 to have been met. The PI/DI Businesses (operating as Kodak Alaris) have filed suit against the Company alleging breach of contract based on the failure to pay the $14 million amount with respect to 2018. The Company has filed counterclaims seeking contractual penalties related to late payments for goods and services provided by Kodak under various separate agreements.