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Table of Contents
NOTE 15: OTHER OPERATING EXPENSE (INCOME) , NET
PAGE 93
Successor
Predecessor
(in millions)
Four Months
Ended
December 31,
2013
Eight Months
Ended
August 31, 2013
Year Ended
December 31,
2012
Year Ended
December 31,
2011
Expense (income) :
Gain on sale of digital imaging patent portfolio
(1)
$
—
$
(
535
)
$
—
$
—
Goodwill and intangible impairments (2) (3)
8
77
—
8
Supply arrangement termination payment (5)
—
—
(
35
)
—
Gains related to the sales of assets and
businesses (4) (6) (7)
(6
)
(34
)
(50
)
(69
)
Other
—
(
3
)
—
5
Total
$
2
$
(495
)
$
(85
)
$
(56
)
(1)
Refer to Note 2,
“
Emergence from Voluntary Reorganization under Chapter 11 Proceedings.
(2) In the fourth quarter of 2013, Kodak recorded an impairment charge of $8 million related to the Kodak trade name. Refer to Note 8,
“
Goodwill and Other Intangible Assets.
”
(3) In the first quarter of 2013, Kodak recorded an impairment charge of $77 million related to the Intellectual Property and Brand Licensing
reporting unit. Refer to Note 8,
“
Goodwill and Other Intangible Assets.
”
(4) In March 2012, Kodak sold a property in Mexico for approximately $41 million and leased back the property for a one-year term. The
pre-tax gain on the property sale of approximately $34 million was deferred due to Kodak’s continuing involvement in the property for
the remainder of the lease term. In March 2013, the deferred gain was recognized as the lease term expired.
(5) In the fourth quarter of 2012, Kodak received cash proceeds of approximately $35 million associated with the termination of a supply
arrangement.
(6) In December 2003, Kodak sold a property in France for approximately $65 million, net of direct selling costs, and then leased back a
portion of this property for a nine-year term. The entire gain on the property sale was deferred due to Kodak’s significant continuing
involvement in the property. In the fourth quarter of 2012, the lease term expired and Kodak’s continuing involvement in the property
ended. As a result, Kodak recognized a gain of approximately $50 million.
(7)
On March 31, 2011, Kodak sold patents and patent applications related to CMOS image sensors to OmniVision Technologies Inc. for $65
million. Kodak recognized a gain, net of transaction costs, of $62 million from this transaction.