Kodak 2010 Annual Report Download - page 101
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99
Changes in Estimates Recorded During the Fourth Quarter Ended December 31, 2010
During the fourth quarter ended December 31, 2010, the Company recorded a reduction of expense of approximately $27 million,
net of tax, related to changes in estimates with respect to certain of its employee benefit and compensation accruals. These changes
in estimates positively impacted results for the quarter by $.10 per share.
Eastman Kodak Company
SUMMARY OF OPERATING DATA – UNAUDITED
(in millions, except per share data, shareholders, and employees)
2010
2009
2008
2007
2006
Net sales from continuing operations (9)
$ 7,187
$ 7,606
$ 9,416
$ 10,301
$ 10,568
Loss from continuing operations before
interest expense, other income
(charges), net and income taxes
(336)
(28)
(821)
(230)
(476)
(Loss) earnings from:
Continuing operations
(675)
(1)
(232)
(2)
(727)
(3)
(206)
(4)
(796)
(5)
Discontinued operations
(12)
(6)
17
(6)
285
(6)
884
209
Extraordinary item, net of tax
-
6
-
-
-
Net (Loss) Earnings
(687)
(209)
(442)
678
(587)
Less: Net earnings attributable to
noncontrolling interests
-
(1)
-
(2)
(7)
Net (Loss) Earnings Attributable to
Eastman Kodak Company
(687)
(210)
(442)
676
(594)
Earnings and Dividends
(Loss) earnings from continuing
operations
- % of net sales from continuing
operations
-9.4%
-3.1%
-7.7%
-2.0%
-7.5%
Net (loss) earnings
- % return on average equity
-124.0%
-44.0%
-21.8%
30.2%
-31.3%
Basic and diluted (loss) earnings per
share attributable to Eastman Kodak
Company common shareholders:
Continuing operations
(2.51)
(0.87)
(2.58)
(0.71)
(2.78)
Discontinued operations
(0.05)
0.07
1.01
3.06
0.71
Extraordinary item, net of tax
-
0.02
-
-
-
Total
(2.56)
(0.78)
(1.57)
2.35
(2.07)
Cash dividends declared and paid
- on common shares
-
-
139
144
144
- per ommon share
-
-
0.50
0.50
0.50
Common shares outstanding at year end
268.9
268.6
268.2
288.0
287.3
Shareholders at year end
51,802
54,078
56,115
58,652
63,193
Statement of Financial Position Data
Working capital
966
1,407
1,566
1,631
1,027
Property, plant and equipment, net
1,037
1,254
1,551
1,811
2,602
Total assets
6,239
7,691
9,179
13,659
14,320
Short-term borrowings and current
portion of long-term debt
50
62
51
308
64
Long-term debt, net of current portion
1,195
1,129
1,252
1,289
2,714
(footnotes on next page)