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Note 23 - Segment Information (Tables)
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(in millions)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Traditional Printing

 

$

146

 

 

$

187

 

 

$

419

 

 

$

534

 

Digital Printing

 

 

56

 

 

 

70

 

 

 

173

 

 

 

211

 

Advanced Materials and Chemicals

 

 

44

 

 

 

53

 

 

 

124

 

 

 

153

 

Brand

 

 

3

 

 

 

3

 

 

 

8

 

 

 

8

 

All Other

 

 

3

 

 

 

2

 

 

 

8

 

 

 

7

 

Consolidated total

 

$

252

 

 

$

315

 

 

$

732

 

 

$

913

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(in millions)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Traditional Printing

 

$

5

 

 

$

21

 

 

$

7

 

 

$

36

 

Digital Printing

 

 

(3

)

 

 

(3

)

 

 

(8

)

 

 

(9

)

Advanced Materials and Chemicals

 

 

(6

)

 

 

(6

)

 

 

(22

)

 

 

(24

)

Brand

 

 

3

 

 

 

2

 

 

 

7

 

 

 

5

 

Total of reportable segments

 

 

(1

)

 

 

14

 

 

 

(16

)

 

 

8

 

All Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1

)

Depreciation and amortization

 

 

(9

)

 

 

(14

)

 

 

(29

)

 

 

(43

)

Restructuring costs and other

 

 

(1

)

 

 

(3

)

 

 

(9

)

 

 

(7

)

Stock based compensation

 

 

(17

)

 

 

(1

)

 

 

(18

)

 

 

(6

)

Consulting and other costs (1)

 

 

(4

)

 

 

(2

)

 

 

(5

)

 

 

(7

)

Idle costs (2)

 

 

(1

)

 

 

(1

)

 

 

(2

)

 

 

(4

)

Former CEO separation agreement compensation

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2

)

Other operating (loss) income, net, excluding income from

   transition services agreement (3)

 

 

—

 

 

 

(12

)

 

 

6

 

 

 

(14

)

Interest expense (4)

 

 

(3

)

 

 

(4

)

 

 

(11

)

 

 

(12

)

Pension income excluding service cost component (4)

 

 

26

 

 

 

26

 

 

 

79

 

 

 

79

 

Loss on early extinguishment of debt (4)

 

 

(2

)

 

 

—

 

 

 

(2

)

 

 

—

 

Other charges, net (4)

 

 

(432

)

 

 

(6

)

 

 

(387

)

 

 

(7

)

Consolidated loss from continuing operations

   before income taxes

 

$

(444

)

 

$

(3

)

 

$

(394

)

 

$

(16

)

 

Kodak increased workers’ compensation reserves by approximately $9 million and $2 million in the third quarters of 2020 and 2019, respectively, driven by changes in discount rates.  The increase in reserves in the third quarter of 2020 impacted gross profit by approximately $6 million, SG&A by approximately $2 million and R&D by approximately $1 million.  The increase in reserves in the third quarter of 2019 impacted gross profit by approximately $1 million and SG&A by approximately $1 million.

 

 

(1)

Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives and investigations.

 

(2)

Consists of costs such as security, maintenance and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.

 

(3)

$1 million and $2 million of income from the transition services agreement with the Purchaser was recognized in the three months ended September 30, 2020 and 2019 Transition services income of $5 million and $4 million was recognized in the nine months ended September 30, 2020 and 2019, respectively.  The income was reported in Other operating (income) expense, net in the Consolidated Statement of Operations. Other operating (income) expense, net is typically excluded from the segment measure. However, the income from the transition services agreement was included in the segment measure.

 

(4)

As reported in the Consolidated Statement of Operations.