Kodak 2011 Annual Report Download - page 56

Eastman Kodak Company
CONSOLIDATED STATEMENT OF OPERATIONS
The accompanying notes are an integral part of these consolidated financial statements.
For the Year Ended December 31,
(in millions, except per share data)
2011
2010
2009
Net sales
Products
$
5,113
$
5,485
$
6,326
Services
781
778
788
Licensing & royalties
128
904
495
Total net sales
$
6,022
$
7,167
$
7,609
Cost of sales
Products
$
4,534
$
4,618
$
5,247
Services
601
603
603
Total cost of sales
$
5,135
$
5,221
$
5,850
Gross profit
$
887
$
1,946
$
1,759
Selling, general and administrative expenses
1,159
1,275
1,298
Research and development costs
274
318
351
Restructuring costs, rationalization and other
121
70
226
Other operating (income) expenses, net
(67
)
619
(88
)
Loss from continuing operations before interest expense, other income (charges), net and income
taxes
(600
)
(336
)
(28
)
Interest expense
156
149
119
Loss on early extinguishment of debt, net
-
102
-
Other income (charges), net
(2
)
26
30
Loss from continuing operations before income
taxes
(758
)
(561
)
(117
)
Provision for income taxes
9
114
115
Loss from continuing operations
(767
)
(675
)
(232
)
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
)
$
(687
)
$
(210
)
Basic and diluted net (loss) earnings per share attributable to Eastman Kodak Company common
shareholders:
Continuing operations
$
(2.85
)
$
(2.51
)
$
(0.87
)
Discontinued operations
0.01
(0.05
)
0.07
Extraordinary item
-
-
0.02
Total
$
(2.84
)
$
(2.56
)
$
(0.78
)
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