Kodak 2015 Annual Report Download - page 58

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Segment Operational EBITDA and Consolidated Loss from Continuing Operations Before Income Taxes
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
Print Systems $ 98 $ 93 $ 38 $ 32
Enterprise Inkjet Systems (26) (44) (15) (34)
Micro 3D Printing and Packaging (5) 9 (1) — (3)
Software & Solutions 9 3 (1) (11)
Consumer & Film 52 66 34 127
Intellectual Property Solutions (22) 40 (2) (19)
Eastman Business Park 2 1 4 1
Total of reportable segments 122 158 58 93
All Other 5 5 4 5
Depreciation and amortization (145) (199) (75) (97)
Corporate components of pension and OPEB income (1) 133 110 67 43
Restructuring costs and other (38) (59) (17) (45)
Stock-based compensation (18) (8) (1) (3)
Change in U.S. vacation benefits (4) 17 — — —
Consulting and other costs (2) (13) (6) (2) —
Idle costs (3) (3) (4) — 1
Costs previously allocated to discontinued operations (1) (4) (5) (35)
Fresh start adjustments — — (73) —
Other operating (expense) income, net excluding gain
related to Unipixel termination (5) (5) (9) (2) 495
Loss on early extinguishment of debt, net — — — (8)
Interest expense (63) (62) (22) (106)
Other charges, net (21) (21) 10 (13)
Reorganization items, net (5) (13) (16) 2,026
Consolidated (loss) earnings from continuing operations
before income taxes $ (35) $ (112) $ (74) $ 2,356
(1) Composed of interest cost, expected return on plan assets, amortization of actuarial gains and losses, and curtailments and settlement components of pension
and other postretirement benefit expenses.
(2) Consulting and other costs are primarily related to professional services provided for corporate strategic initiatives in the current year periods. The prior year
periods primarily represent the cost of AlixPartners filling interim executive positions which are not captured within “Reorganization items, net” as well as
consulting services provided by former executives during transitional periods.
(3) Consists of third party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak
operations.
(4) In the fourth quarter of 2015, Kodak changed the timing of when U.S. employees earn their vacation benefits which reduced the related accrual as of
December 31, 2015.
(5) In 2015 a $3 million gain was recognized related to assets that were acquired for no monetary consideration as a part of the termination of the relationship
with Unipixel. 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 in 2015.
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