Kodak 2014 Annual Report Download - page 118

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Reorganization adjustments
Other fees and expenses represent $7 million payment for accrued and unpaid interest related to the repayment of debt and $9 million payment for emergence and
success fees, which is included in Reorganization items, net in the Consolidated Statement of Operations.
(1)
Reflects the net cash payments recorded as of the Effective Date from implementation of the Plan:
(in millions)
Sources:
Net proceeds from Emergence Credit Facilities
$
664
Proceeds from Rights Offerings
406
Total sources
$
1,070
Uses:
Repayment of Junior DIP Term Loans
$
644
Repayment of Second Lien Notes
375
Claims paid at emergence
94
Funding of escrow accounts
113
Other fees and expenses
16
Total uses
1,242
Net uses
$
(172
)
(2)
Reflects the funding of $80 million to the professional fee escrow account for professional fees accrued at emergence and $18 million related to the EBP Settlement
Agreement. Refer to Note 24, “Emergence from Voluntary Reorganization under Chapter 11 Proceedings”
for additional information regarding the EBP Settlement
Agreement.
(3)
Reflects the expiration of tax attributes, which was fully offset by a corresponding decrease in Kodak’s U.S. valuation allowance, as a result of the Debtors’
emergence
from chapter 11 bankruptcy proceedings. Refer to Note 14,
“
Income Taxes
”
for additional information.
(4)
Represents the write-
off of unamortized debt issuance costs of $1 million related to the Junior DIP Credit Agreement upon repayment in full of all outstanding term loans
on the Effective Date. This amount has been included in Reorganization items, net in the Consolidated Statement of Operations.
(5)
Represents the funding of $15 million in cash collateralization for letters of credit under the ABL Credit Facility.
(6)
Represents $8 million of debt issuance costs incurred related to the Emergence Credit Facilities.
(7)
Represents the write-
off of $5 million of deferred debt issuance costs upon repayment in full of all loans outstanding under the 9.75% senior secured notes due 2018 and
10.625% senior secured notes due 2019 and the write-
off of $3 million of deferred equity issuance costs. These amounts have been included in Reorganization items, net in
the Consolidated Statement of Operations.
(8)
Represents $6 million in claims expected to be satisfied in cash that were reclassified from Liabilities subject to compromise.
(9)
Represents $3 million of accrued expenses related to the Emergence Credit Facilities that have been deferred and recorded as part of Other Current assets.
(10)
Represents $13 million in success fees accrued upon emergence that have been included in Reorganization items, net in the Consolidated Statement of Operations.
115