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EASTMAN KODAK COMPANY
CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions)
The accompanying notes are an integral part of these consolidated financial statements.
Successor
Predecessor
Year Ended
December 31,
2014
Four Months
Ended
December 31,
2013
Eight Months
Ended
August 31,
2013
Year Ended
December 31,
2012
Cash flows from operating activities:
Net (loss) earnings
$
(118
)
$
(78
)
$
2,066
$
(1,379
)
Adjustments to reconcile to net cash used in operating activities:
Depreciation and amortization
199
75
118
245
Pension and other postretirement (income) expense
(78
)
(61
)
145
(27
)
Net gains on sales of businesses/assets
(23
)
(6
)
(407
)
(42
)
Foreign exchange loss from remeasurement of Venezuela monetary assets
16
-
-
-
Loss on early extinguishment of debt
-
-
8
7
Non
-
cash restructuring costs, asset impairments and other charges
13
9
81
34
Stock based compensation
8
1
3
7
Reorganization items:
Non
-
cash reorganization gain
-
-
(1,964
)
-
Payment of claims
(2
)
-
(94
)
-
Fresh start adjustments, net
-
-
(302
)
-
Other non
-
cash reorganization items, net
8
3
119
717
Provision (benefit) for deferred income taxes
5
(2
)
448
(20
)
Decrease (increase) in receivables
143
(72
)
105
319
Decrease (increase) in inventories
4
147
(27
)
60
Decrease in liabilities excluding borrowings
(307
)
(105
)
(595
)
(781
)
Other items, net
4
(13
)
(269
)
571
Total adjustments
(10
)
(24
)
(2,631
)
1,090
Net cash used in operating activities
(128
)
(102
)
(565
)
(289
)
Cash flows from investing activities:
Additions to properties
(43
)
(21
)
(18
)
(42
)
Proceeds from sales of businesses/assets
18
9
827
90
Use (funding) of restricted cash
68
93
(134
)
-
Marketable securities
–
sales
-
-
21
95
Marketable securities – purchases
(2
)
-
(
17
)
(91
)
Net cash provided by investing activities
41
81
679
52
Cash flows from financing activities:
Proceeds from Emergence credit facilities
-
-
664
-
Proceeds from Senior and Junior DIP Credit Agreements
-
-
450
686
Proceeds from VIE credit facility
1
-
-
-
Repayment of term loans under Original Senior DIP Credit Agreement
-
-
(664
)
(36
)
Repayment of term loans under Junior DIP Credit Agreement
-
-
(844
)
-
Repayment of emergence credit facilities
(4
)
(2
)
-
-
Repayment of other borrowings
-
(40
)
(375
)
(142
)
Equity transactions of noncontrolling interests
(3
)
7
-
-
Treasury stock purchases
(1
)
(3
)
-
-
Proceeds from Rights Offerings
-
-
406
-
Contingent consideration received with sale of business
-
-
35
-
Reorganization items
-
-
-
(41
)
Proceeds from sale and leaseback transaction
-
-
-
41
Net cash (used in) provided by financing activities
(7
)
(38
)
(328
)
508
Effect of exchange rate changes on cash
(38
)
5
(23
)
3
Net (decrease) increase in cash and cash equivalents
(132
)
(54
)
(237
)
274
Cash and cash equivalents, beginning of period
844
898
1,135
861
Cash and cash equivalents, end of period
$
712
$
844
$
898
$
1,135
52