Kodak 2012 Annual Report Download - page 114
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Table of Contents
The Black-Scholes option pricing model was used with the following weighted-average assumptions for options issued in each year:
No options were granted in 2012.
The weighted-average fair value per option granted in 2011 and 2010 was $1.92 and $2.16, respectively.
As of December 31, 2012, there was $1 million of total unrecognized compensation cost related to unvested options. The cost is expected to be
recognized over a weighted-average period of 0.9 years.
NOTE 24: ACQUISITIONS
There were no significant acquisitions in 2012 and 2010.
In 2011, Kodak completed the acquisition of substantially all of the assets of the relief plates business of Tokyo Ohka Kogyo Co., Ltd. for a
purchase price of approximately $27 million, net of cash acquired. A gain of $5 million from a bargain purchase was recognized within Other
income (charges), net in the Consolidated Statement of Operations for the year ended December 31, 2011. This acquisition was immaterial to
Kodak’s financial position as of December 31, 2011, and its results of operations and cash flows for the year ended December 31, 2011. The
relief plates business is part of Kodak’s Graphics, Entertainment and Commercial Films segment.
NOTE 25: DISCONTINUED OPERATIONS
Discontinued operations of Kodak include the digital capture and devices business, Kodak Gallery, and other miscellaneous businesses.
The significant components of revenues and earnings (loss) from discontinued operations, net of income taxes are as follows:
110
For the Year Ended
2011
2010
Weighted
-
average risk
-
free interest rate
2.48%
1.50%
Risk
-
free interest rates
2.2%
—
2.5%
1.5%
—
2.9%
Weighted
-
average expected option lives
6 years
6 years
Expected option lives
6 years
6 years
Weighted
-
average volatility
59%
57%
Expected volatilities
59%
—
60%
45%
—
58%
Weighted
-
average expected dividend yield
0.0%
0.0%
Expected dividend yields
0.0%
0.0%
For the Year Ended December 31,
(in millions)
2012
2011
2010
Revenues from Digital Capture and Devices operations
$
36
$
659
$
942
Revenues from Kodak Gallery operations
29
85
99
Revenues from other discontinued operations
6
130
132
Total revenues from discontinued operations
$
71
$
874
$
1,173
Pre
-
tax loss from Digital Capture and Devices operations
$
(78
)
$
(54
)
$
(131
)
Pre
-
tax income (loss) from Kodak Gallery operations
4
(32
)
(45
)
Pre
-
tax (loss) income from other discontinued operations
(5
)
26
38
(Benefit) provision for income taxes related to discontinued operations
(3
)
(3
)
14
Loss from discontinued operations, net of income taxes
$
(76
)
$
(57
)
$
(152
)