Kodak 2004 Annual Report Download - page 101

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Financials
99
2004 SUMMARY ANNUAL REPORT
(footnotes for previous page)
(1) Refer to Note 1, “Signifi cant Accounting Policies and Restatement” for a discussion of the restatement of previously issued fi nancial statements.
(2) Includes $889 million of restructuring charges; $16 million of purchased R&D; $12 million for a charge related to asset impairments and other asset write-offs; and a
$6 million charge for a legal settlement Also includes the benefi t of two legal settlements of $101 million. These items reduced net earnings by $609 million.
(3) Includes $552 million of restructuring charges; $31 million of purchased R&D; $7 million for a charge related to asset impairments and other asset write-offs; a $12
million charge related to an intellectual property settlement; $14 million for a charge connected with the settlement of a patent infringement claim; $14 million for a
charge connected with a prior-year acquisition; $9 million for a charge to write down certain assets held for sale following the acquisition of the Burrell Companies; $8
million for a donation to a technology enterprise; an $8 million charge for legal settlements; a $9 million reversal for an environmental reserve; and a $13 million tax
benefi t related to patent donations. These items reduced net earnings by $441 million.
(4) Includes $143 million of restructuring charges; $29 million reversal of restructuring charges; $50 million for a charge related to asset impairments and other asset
write-offs; and a $121 million tax benefi t relating to the closure of the Company’s PictureVision subsidiary, the consolidation of the Company’s photofi nishing opera-
tions in Japan, asset write-offs and a change in the corporate tax rate. These items improved net earnings by $7 million.
(5) Includes $672 million of restructuring charges; $42 million for a charge related to asset impairments associated with certain of the Company’s photofi nishing opera-
tions; $15 million for asset impairments related to venture investments; $41 million for a charge for environmental reserves; $77 million for the Wolf bankruptcy; a
$20 million charge for the Kmart bankruptcy; $18 million of relocation charges related to the sale and exit of a manufacturing facility; an $11 million tax benefi t related
to a favorable tax settlement; and a $20 million tax benefi t representing a decline in the year-over-year effective tax rate. These items reduced net earnings by $590
million.
(6) Includes accelerated depreciation and relocation charges related to the sale and exit of a manufacturing facility of $50 million, which reduced net earnings by $33
million.
(7) Refer to Note 22, “Discontinued Operations” for a discussion regarding the earnings from discontinued operations.