Kodak 2005 Annual Report Download - page 87
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85
Amortization expense related to intangible assets was $125 million, $67 million and $28 million in 2005, 2004 and 2003, respectively.
Estimated future amortization expense related to purchased intangible assets at December 31, 2005 is as follows (in millions):
2006 $ 141
2007 131
2008 126
2009 114
2010 90
2011+ 198
Total $ 800
NOTE 6: OTHER LONG-TERM ASSETS
(in millions) 2005 2004
Prepaid pension costs $ 1,144 $ 1,203
Investments in unconsolidated affi liates 40 513
Deferred income taxes, net of valuation allowance 450 521
Intangible assets other than goodwill 800 478
Other non-current receivables 328 163
Miscellaneous other long-term assets 459 253
Total $ 3,221 $ 3,131
The miscellaneous component above consists of other miscellaneous long-term assets that, individually, are less than 5% of the Company’s total
long-term assets, and therefore, have been aggregated in accordance with Regulation S-X.
NOTE 7: INVESTMENTS
Equity Method –
At December 31, 2005 and 2004, the Company’s signifi cant equity method investees and the Company’s approximate ownership interest in each
investee were as follows:
2005 2004
SK Display Corporation 34% 34%
Matsushita-Ultra Technologies
Battery Corporation 30% 30%
Lucky Film Co. Ltd (Lucky Film) 13% 13%
KJ Imaging 34% 34%
J League Photo 25% 25%
Kodak Polychrome Graphics (KPG) N/A 50%
Express Stop Financing (ESF) N/A 50%
At December 31, 2005 and 2004, the carrying value of the Company’s equity investment in these signifi cant unconsolidated affi liates was $26 million
and $488 million, respectively, and is reported within other long-term assets in the accompanying Consolidated Statement of Financial Position. The
Company records its equity in the income or losses of these investees and reports such amounts in other income (charges), net, in the accompanying
Consolidated Statement of Operations. See Note 14, “Other Income (Charges), Net.” Other than KPG, these investments do not meet the Regulation
S-X signifi cance test requiring the inclusion of the separate investee fi nancial statements.
Through April 1, 2005, the Company held a 50% interest in Kodak Polychrome Graphics (KPG). This joint venture between the Company and Sun
Chemical Corporation was accounted for using the equity method of accounting. Therefore, the acquisition of KPG in 2005 is the primary reason for
the year-over-year decrease in the carrying value of the Company’s equity investment in its unconsolidated affi liates. On April 1, 2005, the