Kodak 2009 Annual Report Download - page 87

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NOTE 13: OTHER OPERATING (INCOME) EXPENSES, NET
For the Year Ended December 31,
(in millions) 2009 2008 2007
(Income) expenses:
Goodwill impairment (1) $ - $ 785 $ -
Long-lived asset impairments 8 4 56
Gains related to the sales of assets and businesses (2) (100) (25) (158)
Other 4 2 6
Total $ (88) $ 766 $ (96)
(1) Refer to Note 5, “Goodwill and Other Intangible Assets,” in the Notes to Financial Statements.
(2) In November 2009, the Company agreed to terminate its patent infringement litigation with LG Electronics, Inc., LG Electronics
USA, Inc., and LG Electronics Mobilecomm USA, Inc., entered into a technology cross license agreement with LG Electronics,
Inc. and agreed to sell assets of its OLED group to Global OLED Technology LLC, an entity established by LG Electronics,
Inc., LG Display Co., Ltd. and LG Chem, Ltd. As the transactions were entered into in contemplation of one another, in order to
reflect the asset sale separately from the licensing transaction, the total consideration was allocated between the asset sale
and the licensing transaction based on the estimated fair value of the assets sold. Fair value of the assets sold was estimated
using other competitive bids received by the Company. Accordingly, $100 million of the proceeds was allocated to the asset
sale. The remaining gross proceeds of $414 million were allocated to the licensing transaction and reported in net sales of the
CDG segment.