Kodak 2010 Annual Report Download - page 30

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28
Results of Operations – Continuing Operations
Consolidated
For the Year Ended
December 31,
(dollars in millions)
2010
% of
Sales
%
Change
2009
% of
Sales
%
Change
2008
% of
Sales
Net sales
$ 7,187
-6%
$ 7,606
-19%
$ 9,416
Cost of sales
5,236
-10%
5,838
-19%
7,247
Gross profit
1,951
27.1%
10%
1,768
23.2%
-18%
2,169
23.0%
Selling, general and administrative
expenses
1,277
18%
-2%
1,302
17%
-19%
1,606
17%
Research and development costs
321
4%
-10%
356
5%
-26%
478
5%
Restructuring costs, rationalization and
other
70
-69%
226
61%
140
Other operating expenses (income), net
619
803%
(88)
111%
766
Loss from continuing operations before
interest expense, other income (charges),
net and income taxes
(336)
-5%
(28)
0%
(821)
-9%
Interest expense
149
25%
119
10%
108
Loss on early extinguishment of debt, net
102
-
-
Other income (charges), net
26
-13%
30
-45%
55
Loss from continuing operations before
income taxes
(561)
-379%
(117)
87%
(874)
Provision (benefit) for income taxes
114
-1%
115
178%
(147)
Loss from continuing operations
(675)
-9%
-191%
(232)
-3%
68%
(727)
-8%
(Loss) earnings from discontinued
operations, net of income taxes
(12)
17
285
Extraordinary item, net of tax
-
6
-
NET LOSS
(687)
(209)
(442)
Less: Net earnings attributable to
noncontrolling interests
-
(1)
-
NET LOSS ATTRIBUTABLE TO
EASTMAN KODAK COMPANY
$ (687)
-227%
$ (210)
52%
$ (442)
For the Year Ended
December 31,
Change vs. 2009
2010
Amount
Change
vs. 2009
Volume
Price/Mix
Foreign
Exchange
Manufacturing and
Other Costs
Total net sales
$ 7,187
-5.5%
-5.2%
0.0%
-0.3%
n/a
Gross profit margin
27.1%
3.9pp
n/a
1.0pp
0.1pp
2.8pp
For the Year Ended
December 31,
Change vs. 2008
2009
Amount
Change
vs. 2008
Volume
Price/Mix
Foreign
Exchange
Manufacturing and
Other Costs
Total net sales
$ 7,606
-19.2%
-14.5%
-2.5%
-2.2%
n/a
Gross profit margin
23.2%
0.2pp
n/a
-3.6pp
-1.3pp
5.1pp