Kodak 2006 Annual Report Download - page 90

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
Summarized financial information for KPG for 2004 is as follows:
Condensed Statement of Operations
(dollar amounts in millions) 2004
Net sales $ 1,715
Gross profit 563
Income from continuing operations 105
Net income 105
Condensed Balance Sheet
(dollar amounts in millions) December 31, 2004
Current assets $ 909
Noncurrent assets 401
Current liabilities 458
Noncurrent liabilities 60
Kodak has no other material activities with its equity method investees.
Cost Method
The Company also has certain investments with less than a 20% ownership interest in various private companies whereby the Company does not have
the ability to exercise significant influence. These investments are accounted for under the cost method. For those investments that have readily deter-
minable fair market values, the carrying values are adjusted to fair market value based on the most recent information available. For those investments
that have no readily determinable fair market value, the carrying values are adjusted if there have been identified events or changes in circumstances
that would have a significant effect on the fair value. The remaining carrying value of the Company’s investments accounted for under the cost method
at December 31, 2006 and 2005 of $18 million and $31 million, respectively, is included in other long-term assets in the accompanying Consolidated
Statement of Financial Position.
NOTE 8: ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES
(in millions) 2006 2005
Accounts payable, trade $ 1,003 $ 996
Accrued employment-related liabilities 876 950
Accrued advertising and promotional expenses 596 683
Deferred revenue 496 350
Accrued restructuring liabilities 263 309
Other 909 899
Total $ 4,143 $ 4,187
The other component above consists of other miscellaneous current liabilities that, individually, are less than 5% of the total current liabilities compo-
nent within the Consolidated Statement of Financial Position, and therefore, have been aggregated in accordance with Regulation S-X.