Kodak 2012 Annual Report Download - page 53
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Table of Contents
term and long-term borrowings are in fixed-rate instruments. There is inherent roll-over risk for borrowings and marketable securities as they
mature and are renewed at current market rates. The extent of this risk is not predictable because of the variability of future interest rates and
business financing requirements.
Using a sensitivity analysis based on estimated fair value of short-term and long-term borrowings, if available market interest rates had been
10% (about 187 basis points) lower at December 31, 2012, the fair value of short-term and long-term borrowings would have increased $1
million and $37 million, respectively. Using a sensitivity analysis based on estimated fair value of short-term and long-term borrowings, if
available market interest rates had been 10% (about 301 basis points) lower at December 31, 2011, the fair value of short-term and long-term
borrowings would have increased $3 million and $66 million, respectively.
Kodak’s financial instrument counterparties are high-quality investment or commercial banks with significant experience with such instruments.
Kodak manages exposure to counterparty credit risk by requiring specific minimum credit standards and diversification of counterparties. Kodak
has procedures to monitor the credit exposure amounts. The maximum credit exposure at December 31, 2012 was not significant to Kodak.
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