Kodak 2009 Annual Report Download - page 84

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NOTE 12: FINANCIAL INSTRUMENTS
The following table presents the carrying amounts, estimated fair values, and location in the Consolidated Statement of Financial
Position for the Company’s financial instruments:
Assets
(in millions) December 31, 2009 December 31, 2008
Balance Sheet Location
Carrying
Amount Fair Value
Carrying
Amount Fair Value
Marketable securities:
Available-for-sale (1) Other long-term assets $ 7 $ 7 $ 7 $ 7
Held-to-maturity (2)
Other current assets and
Other long-term assets 8 9 12 12
Derivatives designated as
hedging instruments:
Commodity contracts (1) Other current assets 1 1 1 1
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (1) Other current assets 7 7 18 18
Liabilities
(in millions) December 31, 2009 December 31, 2008
Balance Sheet Location
Carrying
Amount Fair Value
Carrying
Amount Fair Value
Long-term borrowings, net of
current portion (2)
Long-term debt, net of
current portion $ 1,129 $ 1,142 $ 1,252 $ 926
Derivatives designated as
hedging instruments:
Commodity contracts (1)
Accounts payable and
other current liabilities - - 4 4
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (1)
Accounts payable and
other current liabilities 11 11 80 80
Foreign exchange contracts (1) Other long-term liabilities 6 6 3 3
(1) Recorded at fair value.
(2) Recorded at historical cost.
Long-term debt is generally used to finance long-term investments, while short-term borrowings (excluding the current portion of
long-term debt) are used to meet working capital requirements. The Company does not utilize financial instruments for trading or
other speculative purposes.