Kodak 2012 Annual Report Download - page 118

Table of Contents
NOTE 27: CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION
The financial statements below represent the condensed combined financial statements of the Debtors. Effective January 1, 2012, the Non-Filing
Entities are accounted for as non-consolidated subsidiaries in these financial statements and, as such, their net loss is included as “Equity in loss
of non-filing entities, net of tax” in the Debtors’ Statement of Operations and their net assets are included as “Investment in non-filing entities”
in the Debtors’ Statement of Financial Position.
Intercompany transactions among the Debtors have been eliminated in the financial statements contained herein. Intercompany transactions
among the Debtors and the Non-Filing Entities have not been eliminated in the Debtors’ financial statements.
DEBTORS’ STATEMENT OF OPERATIONS
114
For the Year Ended
(in millions)
December 31, 2012
Net sales
Products
$
1,558
Services
356
Licensing & royalties
(48
)
Total net sales
$
1,866
Cost of sales
Products
$
1,627
Services
310
Total cost of sales
$
1,937
Gross profit (loss)
$
(71
)
Selling, general and administrative expenses
417
Research and development costs
172
Restructuring costs and other
143
Other operating (income) expenses, net
(38
)
Loss from continuing operations before interest expense, other
income (charges), net, reorganization items, net and income
taxes
(765
)
Interest expense (contractual interest for the year ended
December 31, 2012 of $193)
148
Loss on early extinguishment of debt, net
7
Other income (charges), net
34
Reorganization items, net
843
Loss from continuing operations before income taxes
(1,729
)
Benefit for income taxes
(369
)
Loss from continuing operations
(1,360
)
Loss from discontinued operations, net of income taxes
(47
)
NET LOSS ATTRIBUTABLE TO DEBTOR ENTITIES
(1,407
)
Equity in earnings of non
-
filing entities, net of tax
28
NET LOSS ATTRIBUTABLE TO EASTMAN KODAK
COMPANY
$
(1,379
)