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Table of Contents
EASTMAN KODAK COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS
(in millions, except per share data)
The accompanying notes are an integral part of these consolidated financial statements.
PAGE 51
Successor
Predecessor
Four Months Ended
December 31, 2013
Eight Months Ended
August 31, 2013
Year Ended
December 31,
2012
Year Ended
December 31,
2011
Net Sales
Products
$
664
$
1,227
$
2,313
$
2,959
Services
133
279
454
500
Licensing & royalties
8
36
(48
)
126
Total net sales
$
805
$
1,542
$
2,719
$
3,585
Cost of sales
Products
$
581
$
955
$
2,039
$
2,668
Services
106
219
387
427
Total cost of sales
$
687
$
1,174
$
2,426
$
3,095
Gross profit
$
118
$
368
$
293
$
490
Selling, general and administrative expenses
114
297
637
859
Research and development costs
33
66
168
195
Restructuring costs and other
17
43
215
108
Other operating expense (income), net
2
(495
)
(85
)
(56
)
(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
(642
)
(616
)
Interest expense
22
106
139
138
Loss on early extinguishment of debt, net
—
8
7
—
Other income (charges), net
12
(13
)
21
(3
)
Reorganization items, net
16
(2,026
)
843
—
(Loss) earnings from continuing operations before
income taxes
(74
)
2,356
(1,610
)
(757
)
Provision (benefit) for income taxes
8
155
(273
)
(18
)
(Loss) earnings from continuing operations
(82
)
2,201
(1,337
)
(739
)
Earnings (loss) from discontinued operations, net
of income taxes
4
(135
)
(42
)
(25
)
NET (LOSS) EARNINGS
(78
)
2,066
(1,379
)
(764
)
Less: Net income attributable to noncontrolling
interests
3
—
—
—
NET (LOSS) EARNINGS ATTRIBUTABLE TO
EASTMAN KODAK COMPANY
$
(81
)
$
2,066
$
(1,379
)
$
(764
)
Basic and diluted (loss) earnings per share
attributable to Eastman Kodak Company
common shareholders:
Continuing operations
$
(2.04
)
$
8.08
$
(4.92
)
$
(2.75
)
Discontinued operations
0.10
(0.50
)
(0.15
)
(0.09
)
Total
$
(1.94
)
$
7.58
$
(5.07
)
$
(2.84
)
Number of common shares used in basic and
diluted (loss) earnings per share
41.7
272.7
271.8
269.1