Kodak 2015 Annual Report Download - page 38

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The 2013 severance costs related to the elimination of approximately 825 positions, including approximately 500 manufacturing/service, 300 administrative and 25
research and development positions. The geographic composition of these positions included approximately 375 in the U.S. and Canada, and 450 throughout the
rest of the world.
Severance payments for these initiatives were substantially completed in 2015. Certain exit costs, such as long-term lease payments, will continue beyond 2015.
2014 Activity
The $61 million of charges for the year ended December 31, 2014 includes $2 million for accelerated depreciation which was reported in Cost of revenues and $59
million which was reported as Restructuring costs and other in the accompanying Consolidated Statement of Operations.
The 2014 severance costs related to the elimination of approximately 775 positions, including approximately 325 manufacturing/service, 350 administrative and
100 research and development positions. The geographic composition of these positions included approximately 425 in the U.S. and Canada, and 350 throughout
the rest of the world.
Severance payments for these initiatives will continue through 2016 since, in many instances, the employees whose positions were eliminated can elect or are
required to receive their payments over an extended period of time. In addition, certain exit costs, such as long-term lease payments, will continue beyond 2015.
2015 Activity
Restructuring actions taken in 2015 were initiated to reduce Kodak’s cost structure as part of its commitment to drive sustainable profitability and included
continued progress toward the Leeds plate manufacturing facility exit, a Kodak Technology Center workforce reduction, and various targeted reductions in service,
sales, research and development and other administrative functions.
As a result of these actions, for the year ended December 31, 2015 Kodak recorded $46 million of charges, including $8 million for accelerated depreciation which
was reported in Cost of revenues and $38 million which was reported as Restructuring costs and other in the accompanying Consolidated Statement of Operations.
The 2015 severance costs related to the elimination of approximately 600 positions, including approximately 250 manufacturing/service, 250 administrative and
100 research and development positions. The geographic composition of these positions included approximately 275 in the U.S. and Canada, and 325 throughout
the rest of the world.
As a result of these initiatives, severance payments will continue through 2016 since, in many instances, the employees whose positions were eliminated can elect
or are required to receive their payments over an extended period of time. In addition, certain exit costs, such as long-term lease payments, will be paid throughout
2016 and beyond.
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