Kodak 2012 Annual Report Download - page 77
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Table of Contents
NOTE 10: OTHER CURRENT LIABILITIES
The Other component above consists of other miscellaneous current liabilities that, individually, were less than 5% of the total current liabilities
component within the Consolidated Statement of Financial Position, and therefore, have been aggregated in accordance with Regulation S-X.
NOTE 11: SHORT-TERM BORROWINGS AND LONG-TERM DEBT
SHORT-TERM BORROWINGS AND CURRENT PORTION OF LONG-TERM DEBT
Kodak’s current portion of long-term debt was $699 million and $152 million as of December 31, 2012 and 2011, respectively. There was $100
million outstanding under short-term bank borrowings as of December 31, 2011.
LONG-TERM DEBT, INCLUDING LINES OF CREDIT
The carrying value of the 2017 Convertible Senior Notes was increased during the quarter ended June 30, 2012 to reflect the stated principal
amount of the notes. When the notes were initially issued, $107 million of the principal amount of the debt was allocated to reflect the equity
component of the notes. The remaining carrying value of the debt was originally being accreted to the $400 million stated principal amount
using the effective interest method. The increase, in the second quarter of 2012, in the carrying value of the
73
As of December 31,
(in millions)
2012
2011
Accrued employment-related liabilities
$
253
$
359
Accrued customer rebates, advertising and promotional expenses
106
245
Deferred revenue
125
169
Accrued interest
107
35
Accrued restructuring liabilities
83
60
Other
286
384
Total
$
960
$
1,252
(in millions)
Weighted
-
As of
Average
Effective
December 31,
2012
December 31,
2011
Country
Type
Maturity
Interest
Rate
Carrying
Value
Carrying
Value
Current portion:
U.S.
DIP Credit Agreement
2013
8.63
%
659
—
U.S.
Revolver
2013
4.75
%
—
100
Germany
Term note
2013
6.16
%
38
40
Brazil
Term note
2013
19.80
%
2
2
699
142
Non
-
current portion:
Germany
Term note
2013
6.16
%
—
35
Brazil
Term note
2013
19.80
%
—
3
U.S.
Secured term note
2018
10.11
%
493
491
U.S
Secured term note
2019
10.87
%
247
247
740
776
Liabilities subject to compromise:
U.S.
Term note
2013
7.25
%
20
19
U.S.
Term note
2013
7.25
%
250
250
U.S.
Convertible
2017
7.00
%
400
315
U.S.
Term note
2018
9.75
%
3
3
U.S.
Term note
2021
9.20
%
10
10
683
597
$
2,122
$
1,515