Kodak 2015 Annual Report Download - page 7

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EASTMAN KODAK COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS
(in millions, except per share data)
Successor Predecessor
Year Ended
December 31,
2015
Year Ended
December 31,
2014
Four Months
Ended
December 31,
2013
Eight Months
Ended
August 31,
2013
Revenues
Sales $ 1,447 $ 1,738 $ 679 $ 1,267
Services 351 378 133 279
Total net revenues 1,798 2,116 812 1,546
Cost of revenues
Sales 1,171 1,376 586 959
Services 246 284 106 219
Total cost of revenues 1,417 1,660 692 1,178
Gross profit 381 456 120 368
Selling, general and administrative expenses 226 310 114 297
Research and development costs 61 94 33 66
Restructuring costs and other 38 59 17 43
Other operating expense (income), net 2 9 2 (495)
Earnings (loss) from continuing operations before interest expense, loss on early
extinguishment of debt, net, other (charges) income, net, reorganization items, net
and income taxes 54 (16) (46) 457
Interest expense 63 62 22 106
Loss on early extinguishment of debt, net — — — 8
Other (charges) income, net (21) (21) 10 (13)
Reorganization items, net 5 13 16 (2,026)
(Loss) earnings from continuing operations before income taxes (35) (112) (74) 2,356
Provision for income taxes 32 10 8 155
(Loss) earnings from continuing operations (67) (122) (82) 2,201
(Loss) earnings from discontinued operations, net of income taxes (8) 4 4 (135)
NET (LOSS) EARNINGS (75) (118) (78) 2,066
Less: Net income attributable to noncontrolling interests 5 5 3 —
NET (LOSS) EARNINGS ATTRIBUTABLE TO EASTMAN KODAK COMPANY $ (80) $ (123) $ (81) $ 2,066
Basic and diluted (loss) earnings per share attributable to Eastman Kodak Company
common shareholders:
Continuing operations $ (1.72) $ (3.05) $ (2.04) $ 8.08
Discontinued operations (0.19) 0.10 0.10 (0.50)
Total $ (1.91) $ (2.95) $ (1.94) $ 7.58
Number of common shares used in basic and diluted (loss) earnings per share 41.9 41.7 41.7 272.7
The accompanying notes are an integral part of these consolidated financial statements.
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