Kodak 2015 Annual Report Download - page 66

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Consolidated Statement of Financial Position
The adjustments set forth in the following consolidated Statement of Financial Position reflect the effect of the consummation of the transactions contemplated by
the Plan (reflected in the column “Reorganization Adjustments”) as well as fair value adjustments as a result of the adoption of fresh start accounting (reflected in
the column “Fresh Start Adjustments”). The explanatory notes highlight methods used to determine fair values or other amounts of the assets and liabilities as well
as significant assumptions or inputs.
(in millions)
Predecessor
Company (a)
Reorganization
Adjustments
Fresh Start
Adjustments
Successor
Company
ASSETS
Current Assets
Cash and cash equivalents $ 1,070 $ (172) (1) $ — $ 898
Restricted cash 24 98 (2) — 122
Receivables, net 492 — — 492
Inventories, net 435 — 67 (21) 502
Assets held for sale 109 — 8 (22) 117
Other current assets 77 8 (3) (42) (23) 42
(1) (4)
Total current assets 2,207 (67) 33 2,173
Property, plant & equipment, net 507 — 220 (24) 727
Goodwill 56 — 32 (25) 88
Intangible assets, net 43 — 192 (26) 235
Deferred income taxes 22 (21) (3) 55 (23) 56
Other long-term assets 202 15 (5) (26) (27) 184
8 (6) (8) (28)
(8) (7) 1 (29)
TOTAL ASSETS $ 3,037 $ (73) $ 499 $ 3,463
LIABILITIES AND EQUITY (DEFICIT)
Current Liabilities
Accounts payable, trade $ 317 $ 6 (8) $ — $ 339
3 (9)
13 (10)
Short-term borrowings and current portion of long-term debt 681 (641) (11) — 44
4 (12)
Other current liabilities 600 (17) (13) (8) (30) 586
(13) (3) (14) (29)
38 (14)
Liabilities held for sale 45 — (3) (22) 42
Total current liabilities 1,643 (607) (25) 1,011
Long-term debt, net of current portion 370 (370) (15) 11 (31) 676
665 (16)
Pension and other postretirement liabilities 411 156 (17) 178 (29) 745
Other long-term liabilities 318 61 (17) 82 (23) 408
(53) (32)
Liabilities subject to compromise 2,475 (2,475) (17) — —
Total liabilities 5,217 (2,570) 193 2,840
Equity (Deficit)
Common stock (Successor) — — (18) — —
Additional paid in capital (Successor) — 540 (18) 73 (33) 613
Common stock (Predecessor) 978 (978) (19) — —
Additional paid in capital (Predecessor) 1,105 (1,105) (19) — —
Retained earnings (deficit) 2,446 (1,671) (20) (775) (34) —
Accumulated other comprehensive loss (1,008) — 1,008 (34) —
3,521 (3,214) 306 613
Less: Treasury stock (Predecessor) (5,711) 5,711 (19) — —
Total Eastman Kodak Company shareholders’ (deficit) equity (2,190) 2,497 306 613
Noncontrolling interests 10 — — 10
Total equity (deficit) (2,180) 2,497 306 623
TOTAL LIABILITIES AND EQUITY (DEFICIT) $ 3,037 $ (73) $ 499 $ 3,463
65