Kodak 2011 Annual Report Download - page 118

During the fourth quarter ended December 31, 2011, the Company recorded a reduction of expense of approximately $43 million 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 $.16 per share.
(1)
Includes pre-
tax restructuring charges of $35 million ($2 million included in Cost of sales and $33 million included in Restructuring costs,
rationalization and other), which decreased net earnings from continuing operations by $34 million; a pre-
tax gain on asset/business sales of $71
million (included in Other operating (income) expenses, net), which increased net earnings from continuing operations by $71 million; and Corporate
pension costs of $8 million (included in Cost of sales, SG&A, and R&D), which decreased net earnings from continuing operations by $6 million.
(2) Includes pre-tax restructuring charges of $36 million ($7 million included in Cost of sales and $29 million included in Restructuring costs,
rationalization and other), which decreased net earnings from continuing operations by $33 million; and Corporate pension costs of $4 million
(included in Cost of sales, SG&A, and R&D), which decreased net earnings from continuing operations by $2 million.
(3) Includes pre-tax restructuring charges of $18 million ($1 million included in Cost of sales and $17 million included in Restructuring costs,
rationalization and other), which decreased net earnings from continuing operations by $18 million; and a pre-tax impairment charge of $8 million
(included in Other operating expenses (income), net), which decreased net earnings from continuing operations by $8 million.
(4) Includes pre-tax restructuring charges of $44 million ($2 million included in Cost of sales and $42 million included in Restructuring costs,
rationalization and other), which decreased net earnings from continuing operations by $42 million; Corporate pension costs of $4 million (included in
Cost of sales, SG&A, and R&D), which increased net earnings from continuing operations by $1 million, and a pre-tax gain on asset/business sales of
$8 million, which increased net earnings by $8 million.
(5) Includes pre-tax restructuring charges of $14 million ($1 million included in Cost of sales and $13 million included in Restructuring costs,
rationalization and other), which decreased net earnings from continuing operations by $12 million; a pre-tax loss on early extinguishment of debt of
$102 million, which decreased net earnings from continuing operations by $102 million; a pre-tax loss on asset sales of $4 million (included in Other
operating expenses (income), net), which decreased net earnings from continuing operations by $4 million; and other discrete tax items, which
decreased net earnings from continuing operations by $19 million.
(6) Includes pre-tax restructuring charges of $11 million (included in Restructuring costs, rationalization and other), which increased net loss
from continuing operations by $11 million; pre-tax legal contingencies and settlements of $19 million ($10 million included in Cost of
sales, $3 million included in Interest expense, and $6 million included in Other income (charges), net), which increased net loss from
continuing operations by $19 million; a pre-tax gain on asset sales of $2 million (included in Other operating expenses (income), net),
which decreased net loss from continuing operations by $2 million; and other discrete tax items, which increased net loss from
continuing operations by $3 million.
(7) Includes pre-tax restructuring charges of $29 million ($5 million included in Cost of sales and $24 million included in Restructuring, rationalization
and other), which increased net loss from continuing operations by $28 million; a pre-tax gain on asset sales of $3 million (included in Other operating
expenses (income), net), which decreased net loss from continuing operations by $3 million; and other discrete tax items, which increased net loss from
continuing operations by $13 million.
(8) Includes a pre-tax goodwill impairment charge of $626 million (included in Other operating expenses (income), net), which increased net loss from
continuing operations by $624 million, pre-tax restructuring charges of $24 million ($2 million included in Cost of sales and $22 million included in
Restructuring costs, rationalization and other), which increased net loss from continuing operations by $24 million; a pre-tax foreign contingency of $6
million ($2 million included in Cost of sales, $2 million in Interest expense, and $2 million in Other income (charges), net), which decreased net loss
from continuing operations by $6 million; a pre-tax gain on asset sales of $6 million (included in Other operating expenses (income), net), which
decreased net loss from continuing operations by $6 million; and other discrete tax items, which decreased net loss from continuing operations by $144
million.
(9)
Refer to Note 23,
“
Discontinued Operations,
”
in the Notes to Financial Statements for a discussion regarding earnings from discontinued operations.
(10) Each quarter is calculated as a discrete period and the sum of the four quarters may not equal the full year amount. The Company's
diluted net (loss) earnings per share in the above table may include the effect of convertible debt instruments.
Changes in Estimates Recorded During the Fourth Quarter Ended December 31, 2011
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