Kodak 2015 Annual Report Download - page 57

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Segment financial information is shown below. Asset information by segment is not disclosed as this information is not separately identified and reported to the
Chief Operating Decision Maker (“CODM”).
Net Revenues from Continuing Operations by Reportable Segment
Successor Predecessor
Year Ended
December 31,
2015
Year Ended
December 31,
2014
Four Months
Ended
December 31,
2013
Eight Months
Ended
August 31,
2013
(in millions)
Print Systems $ 1,106 $ 1,257 $ 485 $ 844
Enterprise Inkjet Systems 173 185 83 133
Micro 3D Printing and Packaging 128 130 42 75
Software and Solutions 112 108 39 82
Consumer and Film 265 352 147 371
Intellectual Property Solutions 1 70 9 1
Eastman Business Park 13 14 4 4
All Other — — 3 36
Consolidated total $ 1,798 $ 2,116 $ 812 $ 1,546
Segment Measure of Profit and Loss
Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). As demonstrated
in the table below, Operational EBITDA represents the income (loss) from continuing operations excluding the provision (benefit) for income taxes; depreciation
and amortization expense; corporate components of pension and OPEB income; restructuring costs; stock-based compensation expense; change in U.S. vacation
benefits; consulting and other costs; idle costs; indirect costs previously allocated to discontinued operations; other operating (expense) income, net (unless
otherwise indicated); loss on early extinguishment of debt; interest expense; other (charges) income, net; reorganization items, net and; in prior periods, the impact
of certain fresh start accounting adjustments.
Kodak’s segments are measured using Operational EBITDA both before and after allocation of corporate selling, general and administrative expenses (“SG&A”).
The segment earnings measure reported is after allocation of corporate SG&A as this most closely aligns with U.S. GAAP. Research and development activities not
directly related to the other segments are reported within the Intellectual Property Solutions segment.
Change in Segment Measure of Profit and Loss
During the third quarter of 2015 a $3 million gain was recognized related to assets that were acquired for no monetary consideration. The gain was reported in
Other operating (income) expense, net in the Consolidated Statement of Operations. Other operating (income) expense, net is typically excluded from the segment
measure. However, this particular gain was included in the Micro 3D Printing and Packaging segment’s earnings for the year ended 2015. No other periods were
impacted by this change.
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