Kodak 2015 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2015 Kodak annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 85

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

Other postretirement benefit cost included:
Successor Predecessor
(in millions)
Year Ended
December 31,
2015
Year Ended
December 31,
2014
Four Months
Ended
December 31,
2013
Eight Months
Ended
August 31,
2013
Components of net postretirement benefit cost:
Service cost $ — $ — $ — $ —
Interest cost 3 4 1 3
Amortization of:
Prior service credit — — — (75)
Actuarial loss — — — 3
Other postretirement benefit cost (income) from continuing operations $ 3 $ 4 $ 1 $ (69)
The weighted-average assumptions used to determine the net benefit obligations were as follows:
Year Ended December 31,
2015 2014
Discount rate 3.60% 3.49%
Salary increase rate 1.80% 2.60%
The weighted-average assumptions used to determine the net postretirement benefit cost were as follows:
Successor Predecessor
Year Ended
December 31,
2015
Year Ended
December 31,
2014
Four Months
Ended
December 31,
2013
Eight Months
Ended
August 31,
2013
Discount rate 3.49% 4.28% 4.09% 3.23%
Salary increase rate 2.60% 2.50% 2.50% 2.50%
The weighted-average assumed healthcare cost trend rates used to compute the other postretirement amounts were as follows:
2015 2014
Healthcare cost trend 5.81% 6.47%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.21% 4.65%
Year that the rate reaches the ultimate trend rate 2022 2021
Assumed healthcare cost trend rates effect the amounts reported for the healthcare plans. A one-percentage point change in assumed healthcare cost trend rates
would have the following effects:
(in millions) 1% increase 1% decrease
Effect on total service and interest cost $ — $ —
Effect on postretirement benefit obligation 4 (4)
Kodak expects to make benefit payments of $5 million to these postretirement benefit plans in 2016.
50