Kodak 2009 Annual Report Download - page 57

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Eastman Kodak Company
CONSOLIDATED STATEMENT OF OPERATIONS
For the Year Ended December 31,
(in millions, except per share data) 2009 2008 2007
Net sales $ 7,606 $ 9,416 $ 10,301
Cost of goods sold 5,838 7,247 7,757
Gross profit 1,768 2,169 2,544
Selling, general and administrative expenses 1,302 1,606 1,802
Research and development costs 356 478 525
Restructuring costs, rationalization and other 226 140 543
Other operating (income) expenses, net (88) 766 (96)
Loss from continuing operations before interest expense,
other income (charges), net and income taxes (28) (821) (230)
Interest expense 119 108 113
Other income (charges), net 30 55 86
Loss from continuing operations before income taxes (117) (874) (257)
Provision (benefit) for income taxes 115 (147) (51)
Loss from continuing operations (232) (727) (206)
Earnings from discontinued operations, net of income taxes 17 285 884
Extraordinary item, net of tax 6 - -
NET (LOSS) EARNINGS (209) (442) 678
Less: Net earnings attributable to noncontrolling interests (1) - (2)
NET (LOSS) EARNINGS ATTRIBUTABLE TO
EASTMAN KODAK COMPANY $ (210) $ (442) $ 676
Basic and diluted net (loss) earnings per share attributable to
Eastman Kodak Company common shareholders:
Continuing operations $ (0.87) $ (2.58) $ (0.71)
Discontinued operations 0.07 1.01 3.06
Extraordinary item 0.02 - -
Total $ (0.78) $ (1.57) $ 2.35
Amounts attributable to Eastman Kodak Company common
shareholders (basic and diluted earnings per share)
Continuing operations $ (233) $ (727) $ (205)
Discontinued operations 17 285 881
Extraordinary item 6 - -
Total $ (210) $ (442) $ 676
Cash dividends per share $ - $ 0.50 $ 0.50
The accompanying notes are an integral part of these consolidated financial statements.