Kodak 2014 Annual Report Download - page 34

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RESULTS OF OPERATIONS
CONSOLIDATED
Successor
Predecessor
Predecessor
(in millions)
Year Ended
December
31, 2014
% of Sales
Four
Months
Ended
December
31, 2013
Eight
Months
Ended
August 31,
2013
% of Sales
(Combined)
% Change
vs. 2013
(Combined)
Year Ended
December
31, 2012
% of Sales
% Change
vs. 2012
(2013
Combined)
Net sales
$
2,102
$
807
$
1,542
(11
%)
$
2,719
(14
%)
Cost of sales
1,646
687
1,174
2,426
Gross profit
456
22
%
120
368
21
%
(7
%)
293
11
%
67
%
Selling, general
and administrative
expenses
310
15
%
114
297
17
%
(25
%)
637
23
%
(35
%)
Research and
development costs
94
4
%
33
66
4
%
(5
%)
168
6
%
(41
%)
Restructuring
costs and other
59
3
%
17
43
3
%
(2
%)
215
8
%
(72
%)
Other operating
expense (income),
net
9
(0
%)
2
(495
)
21
%
(102
%)
(85
)
3
%
480
%
(Loss) earnings
from continuing
operations before
interest expense,
loss on early
extinguishment of
debt, net, other
(charges) income,
net, reorganization
items, net and
income taxes
(16
)
1
%
(46
)
457
17
%
(104
%)
(642
)
(24
%)
(164
%)
Interest expense
62
3
%
22
106
5
%
(52
%)
139
5
%
(8
%)
Loss on early
extinguishment of
debt, net
-
-
8
0
%
7
0
%
Other (charges)
income, net
(21
)
1
%
10
(13
)
0
%
600
%
21
1
%
(114
%)
Reorganization
items, net
13
1
%
16
(2,026
)
86
%
(101
%)
843
31
%
(338
%)
(Loss) earnings
from continuing
operations before
income taxes
(112
)
(5
%)
(74
)
2,356
97
%
(105
%)
(1,610
)
(59
%)
242
%
Provision (benefit)
for income taxes
10
0
%
8
155
7
%
(94
%)
(273
)
(10
%)
(160
%)
(Loss) earnings
from continuing
operations
(122
)
(6
%)
(82
)
2,201
90
%
(106
%)
(1,337
)
(49
%)
258
%
Earnings (loss)
from discontinued
operations, net of
income taxes
4
0
%
4
(135
)
(6
%)
(103
%)
(42
)
(2
%)
212
%
NET (LOSS)
EARNINGS
(118
)
(6
%)
(78
)
2,066
85
%
(106
%)
(1,379
)
(51
%)
244
%
Less: Net income
attributable to
noncontrolling
interests
5
0
%
3
-
0
%
-
-
-
NET (LOSS)
EARNINGS
ATTRIBUTABLE
TO EASTMAN
KODAK
COMPANY
$
(123
)
(6
%)
$
(81
)
$
2,066
85
%
(106
%)
$
(1,379
)
(51
%)
244
%
33