Kodak 2011 Annual Report Download - page 35

RESULTS OF OPERATIONS - CONTINUING OPERATIONS
CONSOLIDATED
(dollars in millions)
For the Year Ended
December 31,
2011
% of Sales
% Change
2010
% of Sales
% Change
2009
% of Sales
Net sales
$
6,022
-
16
%
$
7,167
-
6
%
$
7,609
Cost of sales
5,135
-
2
%
5,221
-
11
%
5,850
Gross profit
887
15
%
-
54
%
1,946
27
%
11
%
1,759
23
%
Selling, general and
administrative expenses
1,159
19
%
-
9
%
1,275
18
%
-
2
%
1,298
17
%
Research and development
costs
274
5
%
-
14
%
318
4
%
-
9
%
351
5
%
Restructuring costs,
rationalization and other
121
73
%
70
-
69
%
226
Other operating (income)
expenses, net
(67
)
111
%
619
-
803
%
(88
)
Loss from continuing
operations before interest
expense, other income
(charges), net and income
taxes
(600
)
-
10
%
-
79
%
(336
)
-
5
%
-
1100
%
(28
)
0
%
Interest expense
156
5
%
149
25
%
119
Loss on early extinguishment
of debt, net
-
102
-
Other income (charges), net
(2
) -
108
%
26
-
13
%
30
Loss from continuing
operations before income
taxes
(758
)
-
35
%
(561
)
-
379
%
(117
)
Provision for income taxes
9
-
92
%
114
-
1
%
115
Loss from continuing
operations
(767
)
-
13
%
-
14
%
(675
)
-
9
%
-
191
%
(232
)
-
3
%
Earnings (loss) from
discontinued operations, net
of
income taxes
3
(12
)
17
Extraordinary item, net of tax
-
-
6
NET LOSS
(764
)
(687
)
(209
)
Less: Net earnings
attributable to
noncontrolling
interests
-
-
(1
)
NET LOSS ATTRIBUTABLE
TO EASTMAN KODAK
COMPANY
$
(764
) -
11
%
$
(687
) -
227
%
$
(210
)
For the Year Ended
December 31,
Change vs. 2010
2011 Amount
Change vs.
2010
Volume
Price/Mix
Foreign
Exchange
Manufacturing
and Other
Costs
Total net sales
$
6,022
-
16
%
-
5
%
-
13
%
2
%
n/a
Gross profit margin
15
%
-
12pp
n/a
-
10pp
1pp
-
3pp
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
$
7,167
-
6
%
-
6
%
0
%
0
%
n/a