Kodak 2010 Annual Report Download - page 47
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45
Eastman Kodak Company
CONSOLIDATED STATEMENT OF OPERATIONS
For the Year Ended December 31,
(in millions, except per share data)
2010
2009
2008
Net sales
Products
$ 5,507
$ 6,323
$ 8,130
Services
776
788
793
Licensing & royalties
904
495
493
Total net sales
$ 7,187
$ 7,606
$ 9,416
Cost of sales
Products
$ 4,638
$ 5,243
$ 6,647
Services
598
595
600
Total cost of sales
$ 5,236
$ 5,838
$ 7,247
Gross profit
$ 1,951
$ 1,768
$ 2,169
Selling, general and administrative expenses
1,277
1,302
1,606
Research and development costs
321
356
478
Restructuring costs, rationalization and other
70
226
140
Other operating expenses (income), net
619
(88)
766
Loss from continuing operations before interest
expense, other income (charges), net and income taxes
(336)
(28)
(821)
Interest expense
149
119
108
Loss on early extinguishment of debt, net
102
-
-
Other income (charges), net
26
30
55
Loss from continuing operations before income taxes
(561)
(117)
(874)
Provision (benefit) for income taxes
114
115
(147)
Loss from continuing operations
(675)
(232)
(727)
(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)
$ (210)
$ (442)
Basic and diluted net (loss) earnings per share attributable to
Eastman Kodak Company common shareholders:
Continuing operations
$ (2.51)
$ (0.87)
$ (2.58)
Discontinued operations
(0.05)
0.07
1.01
Extraordinary item
-
0.02
-
Total
$ (2.56)
$ (0.78)
$ (1.57)
The accompanying notes are an integral part of these consolidated financial statements.