EX-99 3 wilpdc991.txt EXHIBIT 99.1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE - - - - - - - - - - - - - - - x : In re: : Chapter 11 : POLAROID CORPORATION, : Case No. 01-10864 (PJW) et al., : : Jointly Administered Debtors. : : - - - - - - - - - - - - - - - x NOTICE OF FILING OF MONTHLY OPERATING REPORTS FOR PERIOD FROM JANUARY 1, 2003 THROUGH FEBRUARY 2, 2003 PLEASE TAKE NOTICE that on March 7, 2003, the debtors and debtors-in-possession in the above-captioned cases filed with the United States Bankruptcy Court for the District of Delaware the Monthly Operating Reports of Polaroid Corporation, et al., for the period from January 1, 2003 through February 2, 2003, attached hereto as Exhibit A (the "Monthly Operating Reports"). PLEASE TAKE FURTHER NOTICE that contemporaneously herewith, copies of the Monthly Operating Reports were served on the parties set forth on Exhibit B attached hereto in the manner indicated thereon. Dated: Wilmington, Delaware March 7, 2003 /s/ Mark L. Desgrosseilliers ________________________________________ Gregg M. Galardi (I.D. No. 2991) Mark L. Desgrosseilliers (I.D. No. 4083) SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP One Rodney Square P.O. Box 636 Wilmington, Delaware 19899-0636 (302) 651-3000 - and - Eric W. Kaup SKADDEN, ARPS, SLATE, MEAGHER & FLOM (ILLINOIS) 333 West Wacker Drive Chicago, Illinois 60606 (312) 407-0700 Attorneys for Debtors and Debtors-in-Possession EXHIBIT A TRANSMITTAL OF FINANCIAL REPORTS AND CERTIFICATION OF COMPLIANCE WITH UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR PERIOD ENDED February 2, 2003 Debtors Names: Case Number: Polaroid Corporation 01-10864 Inner City, Inc. 01-10865 Polaroid Asia Pacific Limited 01-10866 Polaroid Latin America Corp. 01-10867 Polaroid Digital Solutions, 01-10868 Inc. Polaroid Eyewear, Inc. 01-10869 Polaroid ID Systems, Inc. 01-10870 Polaroid Malaysia Limited 01-10871 PRD Capital, Inc. 01-10872 PRD Investment, Inc. 01-10874 International Polaroid 01-10875 Corporation Mag-Media Ltd. 01-10876 PMC, Inc. 01-10877 Polaroid Asia Pacific 01-10878 International, Inc. Polaroid Dry Imaging, LLC 01-10879 Polaroid Eyewear FarEast, Inc. 01-10881 Polaroid Memorial Drive, LLC 01-10882 Sub Debt Partners Corp. 01-10883 Polaroid Online Services, Inc. 01-10884 Polaroid Partners, Inc. 01-10885 Polint, Inc. 01-10886 As President of Primary PDC, Inc. (formerly Polaroid Corporation), I affirm: 1) That I have reviewed the financial statements attached hereto, consisting of: Balance Sheet Statement of Cash Receipts and Cash Disbursements Statement of Postpetition Taxes along with the debtor questionnaire and that this information has been prepared in accordance with normal and customary accounting practices, and fairly and accurately reflect the debtors' financial activity for the period stated. 2) That the insurance as described in Section 3 of the Operating Instructions and Reporting Requirements for Chapter 11 cases are current and have been paid in the normal course of business. 3) That all post-petition taxes as described in Section 4 of the Operating Instructions and Reporting Requirements for Chapter 11 cases are current and have been paid in the normal course of business. 4) That no professional fees (attorney, accountant, etc.) have been paid without specific court authorization. (See Exhibit A for information on payments of professional fees paid in January 2003.) 5) That no payments were made by or on behalf of any of the Debtors other than Primary PDC, Inc., for the period January 1, 2003 through and including February 2, 2003. Primary PDC, Inc. (formerly Polaroid Corporation) under my direction and supervision prepared the attached monthly report. Primary PDC, Inc. (formerly Polaroid Corporation) verifies that to the best of its knowledge, the information provided herein is true and correct. I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the documents attached are true and correct to the best of my knowledge and belief. Dated: March 6, 2003 /s/ Kevin Pond ------------------------------ Debtor in Possession Title: President Phone Number: (781) 386-2000 POLAROID CORPORATION DEBTOR QUESTIONNAIRE January 2003 Must be completed each month Yes No 1. Have any assets been sold or transferred outside the No normal course of business this reporting period? If yes, provide an explanation below. 2. Have any funds been disbursed from any account No other than a debtor in possession account this reporting period? If yes, provide an explanation below. Note: All cash disbursements for the month of January 2003 were made in the Polaroid Corporation (renamed Primary PDC, Inc.) entity. No other cash disbursements were made in January 2003 by the other Debtor companies. 3. Have all postpetition tax returns been timely Yes (A) filed? If no, provide an explanation below. (A) As previously reported in the December 2001 report to the Bankruptcy Court, Primary PDC, Inc. (formerly Polaroid Corporation), with the approval of the Court, sold its large government identification business assets to Digimarc Corporation ("Digimarc"). In three states where the assets that were sold are located, Primary PDC, Inc. could be subject to a sales tax on the net book value of the assets. Digimarc has stated that they have applied to these three states to be a reseller of ID assets to a wholly owned LLC. If so, the three states would issue a resale certificate to Digimarc and they would send a copy of this certificate to Primary PDC, Inc. who would not have to pay a sales tax on the sale. As of the date of this report, Primary PDC, Inc. has not received any resale certificates from Digimarc. However, Digimarc has applied for them. Primary PDC, Inc. has filed the state sales tax returns for the period in question without remitting sales tax to the three states. Primary PDC, Inc. expects that this issue will be resolved shortly. If the states in question deny resale status to Digimarc, Primary PDC, Inc. would owe the three states approximately $600,000 plus interest. Although Primary PDC, Inc. believes such an outcome would be unlikely, Primary PDC, Inc. has sufficient cash to cover any adverse conclusion on this matter. 4. Are workers compensation, general liability Yes and other necessary insurance coverages in effect? If no, provide an explanation below.
Polaroid Corporation Statement of Cash Receipts and Disbursements Period December 30 - February 2, 2003 (in U.S. $'s) Beginning Ending Book Transfers Book Account Name Account # Balance Receipts In/(Out) Disbursements Balance ------------ --------- ------- -------- -------- ------------- ------- Bank of New York 690353489/ $8,136,470.82 76001691637 Cash Receipts: Account transfer Tax/ escrow refunds $55,293.01 Interest $4,507.56 Other recoveries Cash Disbursements: Professional fee payments (See Exhibit A) $492,979.45 Management and transitional services $18,676.27 Other payments made pursuant to an order of the Court $125,000.00 All other costs $73,962.00 -------------- -------------- -------------- -------------- -------------- Balance at February 2, 2003 $8,136,470.82 $59,800.57 $0.00 $710,617.72 $7,485,653.67 JP Morgan Chase Tax Escrow Account 507-895053 $4,029,161.00 Cash Receipts: Interest $2,519.05 Cash Disbursements: Account transfer Tax payments -------------- -------------- -------------- -------------- -------------- Balance at February 2, 2003 $4,029,161.00 $2,519.05 $0.00 $0.00 $4,031,680.05 -------------- -------------- -------------- -------------- -------------- Balance at February 2, 2003 $12,165,631.82 $62,319.62 $0.00 $710,617.72 $11,517,333.72 =============== ============== ============== ============== ==============
[chart continued] Reconciling Bank Account Name Items Balance ------------ ----- ------- Bank of New York Cash Receipts: Account transfer Tax/ escrow refunds Interest Other recoveries Cash Disbursements: Professional fee payments (See Exhibit A) Management and transitional services Other payments made pursuant to an order of the Court All other costs -------------- -------------- Balance at February 2, 2003 $178,494.55 $7,664,148.22 JP Morgan Chase Tax Escrow Account Cash Receipts: Interest Cash Disbursements: Account transfer Tax payments -------------- -------------- Balance at February 2, 2003 $0.00 $4,031,680.05 -------------- -------------- Balance at February 2, 2003 $178,494.56 $11,695,828.27 ============== ============== [JPMorganChase Letterhead] January 1, 2003 - January 31, 2003 Page 1 of 1 507 000 TS Business Statement POLAROID-OEP IMAGING CORPORATION Customer Service PRIMARY PDC, INC. If there are any questions regarding C/O POLAROID CORP/ATTN: CEO your account, please call your 784 MEMORIAL DRIVE Relationship Manager CAMBRIDGE, MA 02139 Primary Account Number 507-895053 Number of Checks Enclosed: 0 Money Market Account 507-895053 POLAROID-OEP IMAGING CORPORATION
--------------------------------------------------------------------------------------------------------------------------- Summary Number Amount Opening Balance $4,029,161.00 --------------------------------------------------------------------------------------------------------------------------- Deposits and Credits 1 $2,519.05 --------------------------------------------------------------------------------------------------------------------------- Withdrawals and Debits $0.00 --------------------------------------------------------------------------------------------------------------------------- Checks Paid $0.00 --------------------------------------------------------------------------------------------------------------------------- Ending Balance $4,031,680.05 --------------------------------------------------------------------------------------------------------------------------- Average Balance $4,029,161.00 --------------------------------------------------------------------------------------------------------------------------- Interest Paid for 31 Day(s) $2,5129.05 Interest Credited Year to Date $2,519.05 --------------------------------------------------------------------------------------------------------------------------- Interest rate(s): 01/24 to 01/26 at 0.71% 01/27 to 01/27 at 0.80% 01/28 to 01/28 at 0.73% 01/29 to 01/29 at 0.76% 01/30 to 01/30 at 0.79% 01/31 to 01/31 at 0.83%
--------------------------------------- ---------------------------- ---------------------------------------- --------------------- Deposits and Credits Date Description Amount --------------------------------------- ---------------------------- ---------------------------------------- ------------- 01/31 Interest Paid $2,519.05 Total $2,519.05 --------------------------------------- ---------------------------- ---------------------------------------- --------------------- Daily Balance Date Balance Date Balance Date Balance ---------------------------- ------------------------- ------------------------ 01/31 $4,031,680.05
[The Bank of New York Letterhead] Business Banking Statement Period: 01/01/03 to 01/31/03 Page: 1 of 4 Enclosures: 41 5451 --9--K PRIMARY PDC, INC 1265 MAIN ST WALTHAM, MA 02451-1743
------------------------------------------------------------------------------------------------------------------------------------ Summary Credit of Accounts Account Type Account No. Assets Loans Available Checking Account 690-3534891 155,000.00 Mutual Fund 76001691637 7,509,148.22 ----------------------- -------------------------- ------------------ ----------------- ------------------ TOTAL 7,664,148.22 .00 .00 ----------------------- -------------------------- ------------------ ----------------- ------------------ -----------------------------------------------------------------------------------------------------------------------------------
Mutual Fund MUTUAL FUNDS Information o are NOT insured by the FDIC o are NOT deposits or other obligations of The Bank of New York and are NOT guaranteed by The Bank of New York; and o are subject to investment risks, including possible loss of principal amount invested. ------------------------------------------------------------------------------------------------------------------------------------
Check Activity Account No. 690-3534891 Invest Date Description Debits Credits Balance ------- ------------------------------------------ ------------------ ----------------- --------------------- 01/01 OPENING BALANCE 155,000.00 ------- ------------------------------------------ ------------------ ----------------- --------------------- 01/02 1 CHECK 10.00- 154,990.00 01/03 B/Q POLAROID CORP 750.00 155,740.00 2003010301012NPN 01/03 1 CHECK 42,840.13- 112,899.87 01/03 CHECKINVEST TRANSFER 42,100.13 155,000.00 01/06 DEPOSIT 1,718.01 156,718.02 01/06 1 CHECK 77,646.78- 79,071.23 01/06 CHECKINVEST TRANSFER 75,928.77 155,000.00 01/07 1 CHECK 6,400.00- 148,600.00 01/07 CHECKINVEST TRANSFER 6,400.00 155,000.00 01/08 3 CHECKS 9,365.04- 145,634.96 01/08 CHECKINVEST TRANSFER 9,365.04 155,000.00 01/10 1 CHECK 31,738.24- 123,261.76 01/10 CHECKINVEST TRANSFER 31,738.24 155,000.00 01/13 3 CHECKS 11,295.00- 143,705.00 01/13 CHECKINVEST TRANSFER 11,295.00 155,000.00 01/14 4 CHECKS 122,279.90- 32,720.10 01/14 CHECKINVEST TRANSFER 122,279.90 155,000.00 01/15 DEPOSIT 43,400.00 198,400.00 01/15 4 CHECKS 13,669.38- 184,730.62 01/16 1 CHECK 5,000.00- 179,730.62
POLAROID CORPORATION Exhibit A PROFESSIONAL FEE PAYMENT SUMMARY ------------------------------------------------------------------------------------------------------------------------- PROFESSIONAL VENDOR Nov, 2001 Dec, 2001 Jan, 2002 Feb, 2002 Mar, 2002 ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- Skadden, Arps, Slate, Meagher & Flom (Illinois) $965,791 ------------------------------------------------------------------------------------------------------------------------- Zolfo Cooper, LLC $340,166 $225,000 ------------------------------------------------------------------------------------------------------------------------- KPMG LLP ------------------------------------------------------------------------------------------------------------------------- Bingham Dana LLP ------------------------------------------------------------------------------------------------------------------------- Dresdner Kleinwort Wasserstein, Inc. $335,796 ------------------------------------------------------------------------------------------------------------------------- Miller, Buckfire, Lewis ------------------------------------------------------------------------------------------------------------------------- Donlin, Recano & Company, Inc. $19,500 $85,611 $25,000 ------------------------------------------------------------------------------------------------------------------------- Akin, Gump, Strauss, Hauer & Feld, L..L..P. ------------------------------------------------------------------------------------------------------------------------- Young Conaway Stargatt & Taylor LLP ------------------------------------------------------------------------------------------------------------------------- Houlihan Lokey Howard & Zukin Financial Advisors, Inc. $351,399 ------------------------------------------------------------------------------------------------------------------------- Groom Law Group ------------------------------------------------------------------------------------------------------------------------- McShane ------------------------------------------------------------------------------------------------------------------------- Greenberg Traurig LLP ------------------------------------------------------------------------------------------------------------------------- Buck Consultants ------------------------------------------------------------------------------------------------------------------------- Wind Down Associates, LLC ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- TOTAL $19,500 $0 $0 $777,176 $1,551,587 ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ORDINARY COURSE PROFESSIONAL VENDOR ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- Arthur Andersen LLP $8,400 ------------------------------------------------------------------------------------------------------------------------- Foley Hoag & Eliot ------------------------------------------------------------------------------------------------------------------------- Horal & Chvosta Law Offices ------------------------------------------------------------------------------------------------------------------------- Merrill Communication ------------------------------------------------------------------------------------------------------------------------- Pro-Legal Services ------------------------------------------------------------------------------------------------------------------------- Goodwin Procter ------------------------------------------------------------------------------------------------------------------------- Ikon Office Solutions ------------------------------------------------------------------------------------------------------------------------- Kekst & Company Inc ------------------------------------------------------------------------------------------------------------------------- JP Morgan ------------------------------------------------------------------------------------------------------------------------- Kilkpatrick & Lockhart LLP ------------------------------------------------------------------------------------------------------------------------- David Feldman & Associates ------------------------------------------------------------------------------------------------------------------------- Davis Polk & Wardwell ------------------------------------------------------------------------------------------------------------------------- Thommessen Krefting Greve LLP ------------------------------------------------------------------------------------------------------------------------- Duplicating USC, Inc. ------------------------------------------------------------------------------------------------------------------------- Hewitt Associates LLC ------------------------------------------------------------------------------------------------------------------------- Coffman, De Fries & Northern ------------------------------------------------------------------------------------------------------------------------- American Stock Transfer & Trust ------------------------------------------------------------------------------------------------------------------------- FTI Consultants ------------------------------------------------------------------------------------------------------------------------- Baker Botts, LLP ------------------------------------------------------------------------------------------------------------------------- Reimer & Braunstein, LLP ------------------------------------------------------------------------------------------------------------------------- Morrison & Forester, LLP ------------------------------------------------------------------------------------------------------------------------- Baker & McKenzie ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- TOTAL $0 $0 $8,400 $0 $0 ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- TOTAL ALL PROFESSIONALS $19,500 $0 $8,400 $777,176 $1,551,587 =========================================================================================================================
[chart continued]
--------------------------------------------------------------------------------------------------------------------------------- PROFESSIONAL VENDOR Apr, 2002 May, 2002 June, 2002 July, 2002 August, 2002 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- Skadden, Arps, Slate, Meagher & Flom (Illinois) $552,209 $1,049,686 --------------------------------------------------------------------------------------------------------------------------------- Zolfo Cooper, LLC $304,000 $286,000 547,000 $256,834 $263,542 --------------------------------------------------------------------------------------------------------------------------------- KPMG LLP $320,269 14,953 $86,663 --------------------------------------------------------------------------------------------------------------------------------- Bingham Dana LLP --------------------------------------------------------------------------------------------------------------------------------- Dresdner Kleinwort Wasserstein, Inc. $711,204 --------------------------------------------------------------------------------------------------------------------------------- Miller, Buckfire, Lewis --------------------------------------------------------------------------------------------------------------------------------- Donlin, Recano & Company, Inc. $30,000 $55,000 98,000 $118,285 --------------------------------------------------------------------------------------------------------------------------------- Akin, Gump, Strauss, Hauer & Feld, L..L..P. $264,468 324,000 $214,532 $111,431 --------------------------------------------------------------------------------------------------------------------------------- Young Conaway Stargatt & Taylor LLP $0 --------------------------------------------------------------------------------------------------------------------------------- Houlihan Lokey Howard & Zukin Financial Advisors, Inc. $130,000 $125,000 130,000 $378,601 --------------------------------------------------------------------------------------------------------------------------------- Groom Law Group 200,000 --------------------------------------------------------------------------------------------------------------------------------- McShane $9,666 $20,479 $4,966 --------------------------------------------------------------------------------------------------------------------------------- Greenberg Traurig LLP --------------------------------------------------------------------------------------------------------------------------------- Buck Consultants --------------------------------------------------------------------------------------------------------------------------------- Wind Down Associates, LLC --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- TOTAL $738,134 $806,748 $1,313,953 $2,113,380 $1,634,573 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- ORDINARY COURSE PROFESSIONAL VENDOR --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- Arthur Andersen LLP $12,768 --------------------------------------------------------------------------------------------------------------------------------- Foley Hoag & Eliot 440 --------------------------------------------------------------------------------------------------------------------------------- Horal & Chvosta Law Offices 2125 --------------------------------------------------------------------------------------------------------------------------------- Merrill Communication 11567 --------------------------------------------------------------------------------------------------------------------------------- Pro-Legal Services 1625 --------------------------------------------------------------------------------------------------------------------------------- Goodwin Procter 9722 --------------------------------------------------------------------------------------------------------------------------------- Ikon Office Solutions 15427 --------------------------------------------------------------------------------------------------------------------------------- Kekst & Company Inc --------------------------------------------------------------------------------------------------------------------------------- JP Morgan --------------------------------------------------------------------------------------------------------------------------------- Kilkpatrick & Lockhart LLP --------------------------------------------------------------------------------------------------------------------------------- David Feldman & Associates --------------------------------------------------------------------------------------------------------------------------------- Davis Polk & Wardwell --------------------------------------------------------------------------------------------------------------------------------- Thommessen Krefting Greve LLP --------------------------------------------------------------------------------------------------------------------------------- Duplicating USC, Inc. --------------------------------------------------------------------------------------------------------------------------------- Hewitt Associates LLC --------------------------------------------------------------------------------------------------------------------------------- Coffman, De Fries & Northern --------------------------------------------------------------------------------------------------------------------------------- American Stock Transfer & Trust --------------------------------------------------------------------------------------------------------------------------------- FTI Consultants --------------------------------------------------------------------------------------------------------------------------------- Baker Botts, LLP --------------------------------------------------------------------------------------------------------------------------------- Reimer & Braunstein, LLP --------------------------------------------------------------------------------------------------------------------------------- Morrison & Forester, LLP --------------------------------------------------------------------------------------------------------------------------------- Baker & McKenzie --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- TOTAL $0 $12,768 $0 $0 $40,906 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- TOTAL ALL PROFESSIONALS $738,134 $819,516 $1,313,953 $2,113,380 $1,675,479 =================================================================================================================================
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--------------------------------------------------------------------------------------------------------------------------------- PROFESSIONAL VENDOR Sept, 2002 Oct, 2002 Nov, 2002 Dec, 2002 Jan, 2003 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- Skadden, Arps, Slate, Meagher & Flom (Illinois) $1,795,123 $ 357,703 77647 42840 --------------------------------------------------------------------------------------------------------------------------------- Zolfo Cooper, LLC 231683 $502,971 $ 192,769 --------------------------------------------------------------------------------------------------------------------------------- KPMG LLP $225,536 31800 --------------------------------------------------------------------------------------------------------------------------------- Bingham Dana LLP $11,629 --------------------------------------------------------------------------------------------------------------------------------- Dresdner Kleinwort Wasserstein, Inc. --------------------------------------------------------------------------------------------------------------------------------- Miller, Buckfire, Lewis $481,767 --------------------------------------------------------------------------------------------------------------------------------- Donlin, Recano & Company, Inc. 24558 $16,904 $ 44,587 17396 37738 --------------------------------------------------------------------------------------------------------------------------------- Akin, Gump, Strauss, Hauer & Feld, L..L..P. 387916 $416,558 $ 140,135 194866 39347 --------------------------------------------------------------------------------------------------------------------------------- Young Conaway Stargatt & Taylor LLP $54,253 --------------------------------------------------------------------------------------------------------------------------------- Houlihan Lokey Howard & Zukin Financial Advisors, Inc. $233,343 509600 120738 --------------------------------------------------------------------------------------------------------------------------------- Groom Law Group 27510 $63,644 116652 --------------------------------------------------------------------------------------------------------------------------------- McShane 2989 $12,296 8140 8880 --------------------------------------------------------------------------------------------------------------------------------- Greenberg Traurig LLP --------------------------------------------------------------------------------------------------------------------------------- Buck Consultants 13884 41136 $ 3,312 7314 2494 --------------------------------------------------------------------------------------------------------------------------------- Wind Down Associates, LLC 29096 97202 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- TOTAL $688,540 $3,855,160 $738,506 875861 465892 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- ORDINARY COURSE PROFESSIONAL VENDOR --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- Arthur Andersen LLP --------------------------------------------------------------------------------------------------------------------------------- Foley Hoag & Eliot --------------------------------------------------------------------------------------------------------------------------------- Horal & Chvosta Law Offices 0 --------------------------------------------------------------------------------------------------------------------------------- Merrill Communication 1795 --------------------------------------------------------------------------------------------------------------------------------- Pro-Legal Services --------------------------------------------------------------------------------------------------------------------------------- Goodwin Procter 5705 606 --------------------------------------------------------------------------------------------------------------------------------- Ikon Office Solutions --------------------------------------------------------------------------------------------------------------------------------- Kekst & Company Inc 13683 --------------------------------------------------------------------------------------------------------------------------------- JP Morgan 0 1825 1825 --------------------------------------------------------------------------------------------------------------------------------- Kilkpatrick & Lockhart LLP 10263 46672 $ 16,407 7712 --------------------------------------------------------------------------------------------------------------------------------- David Feldman & Associates 15550 --------------------------------------------------------------------------------------------------------------------------------- Davis Polk & Wardwell 43336 13258 26552 --------------------------------------------------------------------------------------------------------------------------------- Thommessen Krefting Greve LLP 2221 --------------------------------------------------------------------------------------------------------------------------------- Duplicating USC, Inc. 6732 --------------------------------------------------------------------------------------------------------------------------------- Hewitt Associates LLC 0 7213 2094 788 --------------------------------------------------------------------------------------------------------------------------------- Coffman, De Fries & Northern 0 3290 --------------------------------------------------------------------------------------------------------------------------------- American Stock Transfer & Trust 0 3200 6400 --------------------------------------------------------------------------------------------------------------------------------- FTI Consultants 14390 --------------------------------------------------------------------------------------------------------------------------------- Baker Botts, LLP 119 --------------------------------------------------------------------------------------------------------------------------------- Reimer & Braunstein, LLP 3064 --------------------------------------------------------------------------------------------------------------------------------- Morrison & Forester, LLP 17012 1572 --------------------------------------------------------------------------------------------------------------------------------- Baker & McKenzie 666 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- TOTAL $91,785 $81,133 $16,407 53888 27087 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- TOTAL ALL PROFESSIONALS $780,325 $3,936,293 $754,913 $929,749 492979 =================================================================================================================================
CONSOLIDATED POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of February 2, 2003 (in U.S. $'s) ASSETS TOTAL CASH 11,517,334 NET RECEIVABLES - THIRD PARTY 285,000 NET RECEIVABLES - INTERCOMPANY - NET INVENTORIES - TOTAL PREPAID EXPENSES - ----------------------- TOTAL CURRENT ASSETS 11,802,334 ----------------------- NET FIXED ASSETS - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - OTHER NONCURRENT ASSETS 462,226 TOTAL NON-CURRENT ASSETS 462,226 ----------------------- TOTAL ASSETS 12,264,560 ======================= LIABILITIES POST-PETITION NOTES - POST-PETITION PAYABLES - THIRD PARTY 960,129 POST-PETITION PAYABLES - INTERCOMPANY - TOTAL POST-PETITION ACCRUALS 695,478 ----------------------- TOTAL POST-PETITION CURRENT LIABILITIES 1,655,607 TOTAL POST-PETITION NON-CURRENT LIABILITIES - TOTAL PREPETITION LIABILITIES 860,978,847 ----------------------- TOTAL LIABILITIES 862,634,454 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (850,369,894) ----------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) 12,264,560 =======================
POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of February 2, 2003 (in U.S. $'s) Polaroid Polaroid Latin Polaroid Asia Corporation America Corp. Pacific Ltd. Inner City, Inc. ASSETS TOTAL CASH 11,517,334 - - - NET RECEIVABLES - THIRD PARTY 285,000 - - - NET RECEIVABLES - INTERCOMPANY - - - - NET INVENTORIES - - - - TOTAL PREPAID EXPENSES - - - - -------------------------------------------------------------------------- TOTAL CURRENT ASSETS 11,802,334 - - - -------------------------------------------------------------------------- NET FIXED ASSETS - - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES 78,611,939 - - - OTHER NONCURRENT ASSETS 462,226 - - - TOTAL NON-CURRENT ASSETS 79,074,165 - - - -------------------------------------------------------------------------- TOTAL ASSETS 90,876,499 - - - ========================================================================== LIABILITIES POST-PETITION NOTES - - - - POST-PETITION PAYABLES - THIRD PARTY 960,129 - - - POST-PETITION PAYABLES - INTERCOMPANY - - - - TOTAL POST-PETITION ACCRUALS 695,478 - - - -------------------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES 1,655,607 - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - - TOTAL PREPETITION LIABILITIES 859,600,046 202,165 64,705 77,106 -------------------------------------------------------------------------- TOTAL LIABILITIES 861,255,653 202,165 64,705 77,106 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (770,379,154) (202,165) (64,705) (77,106) -------------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) 90,876,499 0 - - ==========================================================================
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Polaroid Polaroid Digital Polaroid ID Polaroid Eyewear, Inc. Solutions, Inc. Systems, Inc. Malaysia, Ltd. ASSETS TOTAL CASH - - - - NET RECEIVABLES - THIRD PARTY - - - - NET RECEIVABLES - INTERCOMPANY - - - - NET INVENTORIES - - - - TOTAL PREPAID EXPENSES - - - - ---------------------------------------------------------------------------- TOTAL CURRENT ASSETS - - - - ---------------------------------------------------------------------------- NET FIXED ASSETS - - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - - OTHER NONCURRENT ASSETS - - - - TOTAL NON-CURRENT ASSETS - - - - ---------------------------------------------------------------------------- TOTAL ASSETS - - - - ============================================================================ LIABILITIES POST-PETITION NOTES - - - - POST-PETITION PAYABLES - THIRD PARTY - - - - POST-PETITION PAYABLES - INTERCOMPANY - - - - TOTAL POST-PETITION ACCRUALS - - - - ---------------------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - - TOTAL POST-PETITION NON-CURRENT LIABILITI - - - - TOTAL PREPETITION LIABILITIES - - 828,812 199,078 ---------------------------------------------------------------------------- TOTAL LIABILITIES - - 828,812 199,078 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) - - (828,812) (199,078) ---------------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - - ============================================================================
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Sub Debt PRD PRD Polaroid Memorial Partners Corp. Investment, Inc. Capital, Inc. Drive LLC ASSETS TOTAL CASH - - - - NET RECEIVABLES - THIRD PARTY - - - - NET RECEIVABLES - INTERCOMPANY - - - - NET INVENTORIES - - - - TOTAL PREPAID EXPENSES - - - - -------------------------------------------------------------------------------- TOTAL CURRENT ASSETS - - - - -------------------------------------------------------------------------------- NET FIXED ASSETS - - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - - OTHER NONCURRENT ASSETS - - - - TOTAL NON-CURRENT ASSETS - - - - -------------------------------------------------------------------------------- TOTAL ASSETS - - - - ================================================================================ LIABILITIES POST-PETITION NOTES - - - - POST-PETITION PAYABLES - THIRD PARTY - - - - POST-PETITION PAYABLES - INTERCOMPANY - - - - TOTAL POST-PETITION ACCRUALS - - - - -------------------------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - - TOTAL PREPETITION LIABILITIES 673 - - - -------------------------------------------------------------------------------- TOTAL LIABILITIES 673 - - - TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (673) - - - -------------------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - - ================================================================================
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Polaroid Asia Polaroid Pacific Partners, Inc. Polint, Inc. International, Inc. PMC, Inc. ASSETS TOTAL CASH - - - - NET RECEIVABLES - THIRD PARTY - - - - NET RECEIVABLES - INTERCOMPANY - - - - NET INVENTORIES - - - - TOTAL PREPAID EXPENSES - - - - --------------------------------------------------------------------- TOTAL CURRENT ASSETS - - - - --------------------------------------------------------------------- NET FIXED ASSETS - - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - - OTHER NONCURRENT ASSETS - - - - TOTAL NON-CURRENT ASSETS - - - - --------------------------------------------------------------------- TOTAL ASSETS - - - - ===================================================================== LIABILITIES POST-PETITION NOTES - - - - POST-PETITION PAYABLES - THIRD PARTY - - - - POST-PETITION PAYABLES - INTERCOMPANY - - - - TOTAL POST-PETITION ACCRUALS - - - - --------------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - - TOTAL PREPETITION LIABILITIES - - 6,034 228 --------------------------------------------------------------------- TOTAL LIABILITIES - - 6,034 228 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) - - (6,034) (228) --------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - - =====================================================================
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International Mag Media, Polaroid Eyewear Polaroid Dry Polaroid Corp. Limited Far East Inc. Imaging LLC ASSETS TOTAL CASH - - - - NET RECEIVABLES - THIRD PARTY - - - - NET RECEIVABLES - INTERCOMPANY - - - - NET INVENTORIES - - - - TOTAL PREPAID EXPENSES - - - - ------------------------------------------------------------------------- TOTAL CURRENT ASSETS - - - - ------------------------------------------------------------------------- NET FIXED ASSETS - - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - - OTHER NONCURRENT ASSETS - - - - TOTAL NON-CURRENT ASSETS - - - - ------------------------------------------------------------------------- TOTAL ASSETS - - - - ========================================================================= LIABILITIES POST-PETITION NOTES - - - - POST-PETITION PAYABLES - THIRD PARTY - - - - POST-PETITION PAYABLES - INTERCOMPANY - - - - TOTAL POST-PETITION ACCRUALS - - - - ------------------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - - TOTAL PREPETITION LIABILITIES - - - - ------------------------------------------------------------------------- TOTAL LIABILITIES - - - - TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) - - - - ------------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - - =========================================================================
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Polaroid Online Services, Inc. Subtotal US Adjustments Eliminations Total ASSETS TOTAL CASH - 11,517,334 - - 11,517,334 NET RECEIVABLES - THIRD PARTY - 285,000 - - 285,000 NET RECEIVABLES - INTERCOMPANY - - - - - NET INVENTORIES - - - - - TOTAL PREPAID EXPENSES - - - - - ---------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS - 11,802,334 - - 11,802,334 ---------------------------------------------------------------------------------------- NET FIXED ASSETS - - - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - 78,611,939 (78,461,939) (150,000) (0) OTHER NONCURRENT ASSETS - 462,226 - - 462,226 TOTAL NON-CURRENT ASSETS - 79,074,165 (78,461,939) (150,000) 462,226 ---------------------------------------------------------------------------------------- TOTAL ASSETS - 90,876,499 (78,461,939) (150,000) 12,264,560 ======================================================================================== LIABILITIES POST-PETITION NOTES - - - - - POST-PETITION PAYABLES - THIRD PARTY - 960,129 - - 960,129 POST-PETITION PAYABLES - INTERCOMPANY - - - - - TOTAL POST-PETITION ACCRUALS - 695,478 - - 695,478 ---------------------------------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - 1,655,607 - - 1,655,607 TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - - - TOTAL PREPETITION LIABILITIES - 860,978,847 - - 860,978,847 ---------------------------------------------------------------------------------------- TOTAL LIABILITIES - 862,634,454 - - 862,634,454 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) - (771,757,955) (78,461,939) (150,000) (850,369,894) ---------------------------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - 90,876,499 (78,461,939) (150,000) 12,264,560 ========================================================================================
[Page 1] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of February 2, 2003 (in U.S. $'s) Polaroid Polaroid Latin Polaroid Asia Polaroid Corporation America Corp. Pacific Ltd. Inner City, Inc.Eyewear, Inc. --------------------------------------------------------------------------- CURRENT LIABILITIES Pre-Petition Notes: Bank Notes 17,858,030 - - - - Non-Interest Overdrafts - - - - - Current Long-Term Debt 573,900,990 - - - - --------------------------------------------------------------------------- PRE-PETITION NOTES 591,759,019 - - - - Pre-Petition Payables Trade Accounts Payable 58,663,695 162,520 - 77,106 - Interco Payables-US to Foreign - - - - - Interco Payables-Foreign to US - - - - - Interco Payables-Domestic Subs - - - - - Interco Payables-Foreign Subs - - - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES 58,663,695 162,520 - 77,106 - Pre-Petition Accruals: Reserve Restructuring 11,452,323 - - - - Accrued Payroll & Related Expenses 8,692,842 - 64,705 - - Accrued Tax & Gov't Accounts - - - - - Accrued Income Taxes (17,456) - - - - Deferred Income Tax - Current - - - - - Accrued Warranty - - - - - Other Accrued Liabilities 48,992,819 31,007 - - - Post-Retirement Medical - - - - - Post-Employment Benefits - - - - - Other Accrued Taxes 11,984,603 - - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS 81,105,132 31,007 64,705 - - --------------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES 731,527,846 193,527 64,705 77,106 - --------------------------------------------------------------------------- NON-CURRENT LIABILITIES Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - - - Post-Employment Benefits 31,510,165 - - - - Long-Term Debt - - - - - Deferred Taxes 1,891,782 8,639 - - - Other 94,670,253 - - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES 128,072,199 8,639 - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 859,600,046 202,165 64,705 77,106 - ===========================================================================
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Polaroid Digital Polaroid ID Polaroid Sub Debt PRD Solutions, Inc. Systems, Inc. Malaysia, Ltd. Partners Corp. Investment, Inc. ---------------------------------------------------------------------------------- CURRENT LIABILITIES Pre-Petition Notes: Bank Notes - - - - - Non-Interest Overdrafts - - - - - Current Long-Term Debt - - - - - ---------------------------------------------------------------------------------- PRE-PETITION NOTES - - - - - Pre-Petition Payables Trade Accounts Payable - 614,635 - - - Interco Payables-US to Foreign - - - - - Interco Payables-Foreign to US - - - - - Interco Payables-Domestic Subs - - - - - Interco Payables-Foreign Subs - - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES - 614,635 - - - Pre-Petition Accruals: Reserve Restructuring - - - - - Accrued Payroll & Related Expenses - - - - - Accrued Tax & Gov't Accounts - - - - - Accrued Income Taxes - 214,177 199,078 - - Deferred Income Tax - Current - - - - - Accrued Warranty - - - - - Other Accrued Liabilities - - - 673 - Post-Retirement Medical - - - - - Post-Employment Benefits - - - - - Other Accrued Taxes - - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS - 214,177 199,078 673 - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES - 828,812 199,078 673 - ---------------------------------------------------------------------------------- NON-CURRENT LIABILITIES Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - - - Post-Employment Benefits - - - - - Long-Term Debt - - - - - Deferred Taxes - - - - - Other - - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES - 828,812 199,078 673 - ==================================================================================
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PRD Polaroid Memorial Polaroid Capital, Inc. Drive LLC Partners, Inc. Polint, Inc. ---------------------------------------------------------------------------------------------------------------------------- CURRENT LIABILITIES Pre-Petition Notes: Bank Notes - - - - Non-Interest Overdrafts - - - - Current Long-Term Debt - - - - ---------------------------------------------------------------------------------- PRE-PETITION NOTES - - - - Pre-Petition Payables Trade Accounts Payable - - - - Interco Payables-US to Foreign - - - - Interco Payables-Foreign to US - - - - Interco Payables-Domestic Subs - - - - Interco Payables-Foreign Subs - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES - - - - Pre-Petition Accruals: Reserve Restructuring - - - - Accrued Payroll & Related Expenses - - - - Accrued Tax & Gov't Accounts - - - - Accrued Income Taxes - - - - Deferred Income Tax - Current - - - - Accrued Warranty - - - - Other Accrued Liabilities - - - - Post-Retirement Medical - - - - Post-Employment Benefits - - - - Other Accrued Taxes - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES - - - - ---------------------------------------------------------------------------------- NON-CURRENT LIABILITIES Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - - Post-Employment Benefits - - - - Long-Term Debt - - - - Deferred Taxes - - - - Other - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - - ---------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES - - - - ==================================================================================
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Polaroid Asia Pacific International Mag Media, International, Inc. PMC, Inc. Polaroid Corp. Limited ---------------------------------------------------------------------- CURRENT LIABILITIES Pre-Petition Notes: Bank Notes - - - - Non-Interest Overdrafts - - - - Current Long-Term Debt - - - - ---------------------------------------------------------------------- PRE-PETITION NOTES - - - - Pre-Petition Payables Trade Accounts Payable - - - - Interco Payables-US to Foreign - - - - Interco Payables-Foreign to US - - - - Interco Payables-Domestic Subs - - - - Interco Payables-Foreign Subs - - - - ---------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES - - - - Pre-Petition Accruals: Reserve Restructuring - - - - Accrued Payroll & Related Expenses 6,034 - - - Accrued Tax & Gov't Accounts - - - - Accrued Income Taxes - 228 - - Deferred Income Tax - Current - - - - Accrued Warranty - - - - Other Accrued Liabilities - - - - Post-Retirement Medical - - - - Post-Employment Benefits - - - - Other Accrued Taxes - - - - ---------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS 6,034 228 - - ---------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES 6,034 228 - - ---------------------------------------------------------------------- NON-CURRENT LIABILITIES Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - - Post-Employment Benefits - - - - Long-Term Debt - - - - Deferred Taxes - - - - Other - - - - ---------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - - ---------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 6,034 228 - - ======================================================================
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Polaroid Eyewear Polaroid Dry Far East Inc. Imaging LLC CURRENT LIABILITIES Pre-Petition Notes: Bank Notes - - Non-Interest Overdrafts - - Current Long-Term Debt - - ------------------------------------------------------ PRE-PETITION NOTES - - Pre-Petition Payables Trade Accounts Payable - - Interco Payables-US to Foreign - - Interco Payables-Foreign to US - - Interco Payables-Domestic Subs - - Interco Payables-Foreign Subs - - ------------------------------------------------------ TOTAL PRE-PETITION PAYABLES - - Pre-Petition Accruals: Reserve Restructuring - - Accrued Payroll & Related Expenses - - Accrued Tax & Gov't Accounts - - Accrued Income Taxes - - Deferred Income Tax - Current - - Accrued Warranty - - Other Accrued Liabilities - - Post-Retirement Medical - - Post-Employment Benefits - - Other Accrued Taxes - - ------------------------------------------------------ TOTAL PRE-PETITION ACCRUALS - - ------------------------------------------------------ TOTAL PRE-PETITION CURRENT LIABILITIES - - ------------------------------------------------------ NON-CURRENT LIABILITIES Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - Post-Employment Benefits - - Long-Term Debt - - Deferred Taxes - - Other - - ------------------------------------------------------ TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - ------------------------------------------------------ TOTAL PRE-PETITION LIABILITIES - - ======================================================
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Polaroid Online Services, Inc. Subtotal US Adjustments Eliminations Total CURRENT LIABILITIES Pre-Petition Notes: Bank Notes - 17,858,030 - - 17,858,030 Non-Interest Overdrafts - - - - Current Long-Term Debt - 573,900,990 - - 573,900,990 -------------------------------------------------------------------------------------- PRE-PETITION NOTES - 591,759,019 - - 591,759,019 Pre-Petition Payables Trade Accounts Payable - 59,517,956 - - 59,517.956 Interco Payables-US to Foreign - - - - - Interco Payables-Foreign to US - - - - - Interco Payables-Domestic Subs - - - - - Interco Payables-Foreign Subs - - - - - -------------------------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES - 59,517,956 - - 59,517,956 Pre-Petition Accruals: Reserve Restructuring - 11,452,323 - - 11,452,323 Accrued Payroll & Related Expenses - 8,763,581 - - 8,763,581 Accrued Tax & Gov't Accounts - - - - - Accrued Income Taxes - 396,027 - - 396,027 Deferred Income Tax - Current - - - - - Accrued Warranty - - - - - Other Accrued Liabilities - 49,024,499 - - 49,024,499 Post-Retirement Medical - - - - - Post-Employment Benefits - - - - - Other Accrued Taxes - 11,984,603 - - 11,984,603 -------------------------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS - 81,621,033 - - 81,621,033 -------------------------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES - 732,898,009 - - 732,898,009 -------------------------------------------------------------------------------------- NON-CURRENT LIABILITIES Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - - - Post-Employment Benefits - 31,510,165 - - 31,510,165 Long-Term Debt - - - - - Deferred Taxes - 1,900,421 - - 1,900,421 Other - 94,670,253 - - 94,670,253 -------------------------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - 128,080,838 - - 128,080,838 -------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES - 860,978,847 - - 860,978,847 ======================================================================================
Polaroid Corporation -------------------------------------------------------------------------------- Statement of Operations and Taxes -------------------------------------------------------------------------------- For the period 12/30/02 - 2/2/03 -------------------------------------------------------------------------------- (in U.S.$'s) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Debtor Name: Polaroid Corporation -------------------------------------------------------------------------------- Case No: 01-10864 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Except for those taxes triggered by the sale transaction on July 31, 2002, for for which funds were either paid or provided for in a tax escrow account, no additional taxes were incurred or paid by Primary PDC, Inc. (formerly Polaroid Corporation) or the other Debtor companies in January 2003. -------------------------------------------------------------------------------- Exhibit B --------- Monthly Operating Reports Service Parties Kevin Pond Patricia Schrage, Esq. Polaroid Corporation Securities & Exchange f/k/a Primary PDC, Inc. Commission 1265 Main Street New York Office Waltham, MA 02451 Branch/Reorganization By Overnight Courier 233 Broadway New York, NY 10279 Mark Kenney, Esq. By Overnight Courier Office of the U.S. Trustee 844 King Street Perry M. Mandarino Wilmington, DE 19899 Partner By Hand-Delivery Traxi LLC 212 West 35th Street Brendan Linehan Shannon, Esq. New York, New York 10001 Young Conaway Stargatt & Taylor By Overnight Courier LLP The Brandywine Building, 17th Floor 1000 West Street P.O. Box 391 Wilmington, DE 19899 By Hand-Delivery Fred Hodara, Esq. Philip Dublin, Esq. Akin, Gump, Strauss, Hauer & Feld, L.L.P. 590 Madison Avenue New York, NY 10022 By Overnight Courier Marshall Huebner, Esq. Davis, Polk & Wardwell 450 Lexington Avenue New York, NY 10017 By Overnight Courier Robert Scheibe, Esq. Morgan, Lewis & Bockius LLP 101 Park Avenue New York, NY 10178 By Overnight Courier William H. Sudell, Jr., Esq. Morris Nichols, Arsht & Tunnell 1201 North Market Street Wilmington, DE 19899 By Hand-Delivery