Kodak 2013 Annual Report Download - page 35
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Table of Contents
RESULTS OF OPERATIONS—CONTINUING OPERATIONS
CONSOLIDATED
PAGE 33
Successor
Predecessor
Predecessor
Predecessor
(in millions)
Four Months
Ended December
31, 2013
Eight Months
Ended August
31, 2013
% of Sales
(Combined)
Year Ended
December 31,
2012
% of
Sales
% Change
vs. 2012
(Combined)
Year Ended
December 31,
2011
% of
Sales
% Change
vs. 2011
Net sales
$
805
$
1,542
$
2,719
(14
%)
$
3,585
(24
%)
Cost of sales
687
1,174
2,426
3,095
Gross profit
118
368
21
%
293
11
%
66
%
490
14
%
(40
%)
Selling, general and
administrative expenses
114
297
18
%
637
23
%
(35
%)
859
24
%
(26
%)
Research and development
costs
33
66
4
%
168
6
%
(41
%)
195
5
%
(14
%)
Restructuring costs and other
17
43
3
%
215
8
%
(72
%)
108
3
%
99
%
Other operating expense
(income), net
2
(495
)
21
%
(85
)
3
%
480
%
(56
)
2
%
52
%
(Loss) earnings from
continuing operations
before interest expense,
loss on early
extinguishment of debt,
net, other income
(charges), net,
reorganization items, net
and income taxes
(48
)
457
17
%
(642
)
(24
%)
164
%
(616
)
(17
%)
(4
%)
Interest expense
22
106
5
%
139
5
%
(8
%)
138
4
%
1
%
Loss on early extinguishment
of debt, net
—
8
—
7
—
14
%
—
—
—
Other income (charges), net
12
(13
)
—
21
1
%
(105
%)
(3
)
—
800
%
Reorganization items, net
16
(2,026
)
86
%
843
31
%
(338
%)
—
—
—
(Loss) earnings from
continuing operations
before income taxes
(74
)
2,356
97
%
(1,610
)
(59
%)
242
%
(757
)
(21
%)
(113
%)
Provision (benefit) for income
taxes
8
155
7
%
(273
)
(10
%)
(160
%)
(18
)
(1
%)
1,417
%
(Loss) earnings from
continuing operations
(82
)
2,201
90
%
(1,337
)
(49
%)
258
%
(739
)
(21
%)
(81
%)
Earnings (loss) from
discontinued operations,
net of income taxes
4
(135
)
(6
%)
(42
)
(2
%)
212
%
(25
)
(1
%)
(68
%)
NET (LOSS) EARNINGS
(78
)
2,066
85
%
(1,379
)
(51
%)
244
%
(764
)
(21
%)
(80
%)
Less: Net loss attributable to
noncontrolling interests
3
—
—
—
—
—
—
—
—
NET (LOSS) EARNINGS
ATTRIBUTABLE TO
EASTMAN KODAK
COMPANY
$
(81
)
$
2,066
85
%
$
(1,379
)
(51
%)
244
%
$
(764
)
(21
%)
(80
%)
Year Ended December 31,
Percent Change vs. 2012 (Combined)
(in millions)
2013
(Combined)
Amount
Change vs.
2012
(Predecessor)
Volume
Price/Mix
Foreign
Exchange
Manufacturing
and Other
Costs
Net Sales
$
2,347
-
14
%
-
17
%
4
%
-
1
%
n/a
Gross profit margin
21
%
10pp
n/a
8pp
-
1pp
3pp
Year Ended December 31,
Percent Change vs. 2011
(in millions)
2012 Amount
(Predecessor)
Change vs.
2011
(Predecessor)
Volume
Price/Mix
Foreign
Exchange
Manufacturing
and Other
Costs
Net Sales
$
2,719
-
24
%
-
15
%
-
7
%
-
2
%
n/a
Gross profit margin
11
%
-
3pp
n/a
-
2pp
-
1pp
0pp