Kodak 2000 Annual Report Download - page 49

Note 3: Inventories
(in millions) 2 0 0 0 1 9 9 9
At FIFO or average cost
( a p p roximates current cost)
Finished goods $1 , 1 5 5 $1 , 0 2 6
Work in pro c e s s 4 2 3 4 8 7
Raw materials and supplies 5 8 9 4 7 1
2 , 1 6 7 1 , 9 8 4
LIFO re s e rv e ( 4 4 9 ) ( 4 6 5 )
To t a l $1 , 7 1 8 $1 , 5 1 9
Inventories valued on the LIFO method are approximately 47%
and 48% of total inventories in 2000 and 1999, re s p e c t i v e l y.
Note 4: Pro p e rt i e s
(in millions) 2 0 0 0 1 9 9 9
L a n d $1 4 1 $1 6 6
Buildings and building equipment 2 , 2 8 5 2 , 5 7 9
M a c h i n e ry and equipment 9 , 5 8 5 9 , 6 6 9
C o n s t ruction in pro g re s s 9 5 2 8 7 5
1 2 , 9 6 3 1 3 , 2 8 9
Accumulated depre c i a t i o n ( 7 , 0 4 4 ) ( 7 , 3 4 2 )
Net pro p e rt i e s $5 , 9 1 9 $5 , 9 4 7
Note 5: Payables and Short - T e rm Borro w i n g s
(in millions) 2 0 0 0 1 9 9 9
Trade cre d i t o r s $8 1 7 $9 4 0
A c c rued advertising and
p romotional expenses 5 7 8 5 4 8
E m p l o y m e n t - related liabilities 7 8 0 9 1 2
R e s t ructuring pro g r a m s –3 6 2
O t h e r 1 , 1 0 0 1 , 0 7 0
Total payables $3 , 2 7 5 $3 , 8 3 2
S h o rt - t e rm bank borrowings totaled $2,206 million at year- e n d
2000 and $1,163 million at year-end 1999. Borrowings included
$1,809 million and $894 million of commercial paper at year- e n d
2000 and 1999, re s p e c t i v e l y. The weighted-average interest rate
of borrowings outstanding at year end was 6.4% in 2000 and
5.8% in 1999.
The Company has a $3.5 billion unused revolving credit facil-
ity established in 1996 and expiring in November 2001 which is
available to support the Company’s commercial paper pro g r a m
and for general corporate purposes. If unused, it has a commit-
ment fee of $1.9 million per year, at the Company’s current cre d i t
rating. Interest on amounts borrowed under this facility is calcu-
lated at rates based on spreads above certain re f e rence rates.
Note 6: Long-Te rm Borro w i n g s
Description and M a t u r i t y
I n t e rest Rates D a t e s
of 2000 of 2000
B o rro w i n g s B o rro w i n g s
(in millions) 2 0 0 0 1 9 9 9
N o t e s :
5 . 8 5 % – 8 . 2 5 % 2 0 0 1 – 2 0 0 5 $4 7 3 $2 7 2
9 . 2 0 % – 9 . 9 5 % 2 0 0 3 – 2 0 2 1 1 9 1 1 9 1
D e b e n t u re s :
1 . 9 8 % – 3 . 1 6 % 2 0 0 2 – 2 0 0 4 6 1 1 2 2
O t h e r :
2 . 0 0 % – 1 7 . 0 0 % 2 0 0 1 – 2 0 1 0 5 9 1 3 5 3
1 , 3 1 6 9 3 8
C u rrent maturities ( 1 5 0 ) ( 2 )
To t a l $1 , 1 6 6 $9 3 6
Annual maturities (in millions) of long-term borrowings outstand-
ing at December 31, 2000 are as follows: 2001: $150; 2002:
$73; 2003: $419; 2004: $366; 2005: $260; and 2006 and
beyond: $48.
The Company has a shelf registration statement for debt
securities with an available balance of $1.9 billion.
Note 7: Other Long-Te rm Liabilities
(in millions) 2 0 0 0 1 9 9 9
D e f e rred compensation $1 4 6 $1 6 0
Minority interest in Kodak companies 9 3 9 8
O t h e r 4 9 3 6 6 0
To t a l $7 3 2 $9 1 8
48
Description and
I n t e rest Rates
of 2000
B o rro w i n g s
M a t u r i t y
D a t e s
of 2000
B o rro w i n g s