Kodak 2005 Annual Report Download - page 50
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48
Restructuring Costs and Other
The Company is currently undergoing the transformation from a traditional products and services company to a digital products and services company.
In connection with this transformation, the Company announced a cost reduction program in January 2004 that would extend through 2006 to achieve
the appropriate business model and to signifi cantly reduce its worldwide facilities footprint. In July 2005, the Company announced an extension to
this program into 2007 to accelerate its digital transformation, which included further cost reductions that will result in a business model consistent
with what is necessary to compete profi tably in digital markets.
In connection with its announcement relating to the extended “2004-2007 Restructuring Program,” the Company has provided estimates with
respect to (1) the number of positions to be eliminated, (2) the facility square footage reduction, (3) the reduction in its traditional manufacturing
infrastructure, and (4) the total restructuring charges to be incurred.
The actual charges for initiatives under this program are recorded in the period in which the Company commits to formalized restructuring plans
or executes the specifi c actions contemplated by the program and all criteria for restructuring charge recognition under the applicable accounting
guidance have been met.