Kodak 2003 Annual Report Download - page 80

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Financials
80
(1) Includes $557 million of restructuring charges; $31 million of purchased R&D; $7 million for a charge related to asset impairments and other asset write-offs; a $12
million charge related to an intellectual property settlement; $14 million for a charge connected with the settlement of a patent infringement claim; $14 million for a
charge connected with a prior-year acquisition; $9 million for a charge to write down certain assets held for sale following the acquisition of the Burrell Companies;
$8 million for a donation to a technology enterprise; $8 million for legal settlements; a $9 million reversal for an environmental reserve; and a $13 million tax benefit
related to patent donations. These items reduced net earnings by $423 million.
(2) Includes $143 million of restructuring charges; $29 million reversal of restructuring charges; $50 million for a charge related to asset impairments and other asset
write-offs; and a $121 million tax benefit relating to the closure of the Company’s PictureVision subsidiary, the consolidation of the Company’s photofinishing opera-
tions in Japan, asset write-offs and a change in the corporate tax rate. These items improved net earnings by $7 million.
(3) Includes $678 million of restructuring charges; $42 million for a charge related to asset impairments associated with certain of the Company’s photofinishing opera-
tions; $15 million for asset impairments related to venture investments; $41 million for a charge for environmental reserves; $77 million for the Wolf bankruptcy; a
$20 million charge for the Kmart bankruptcy; $18 million of relocation charges related to the sale and exit of a manufacturing facility; an $11 million tax benefit relat-
ed to a favorable tax settlement; and a $20 million tax benefit representing a decline in the year-over-year effective tax rate. These items reduced net earnings by
$594 million.
(4) Includes accelerated depreciation and relocation charges related to the sale and exit of a manufacturing facility of $50 million, which reduced net earnings by $33
million.
(5) Includes $350 million of restructuring charges, and an additional $11 million of charges related to this restructuring program; $103 million of charges associated with
business exits; a gain of $95 million on the sale of The Image Bank; and a gain of $25 million on the sale of the Motion Analysis Systems Division. These items
reduced net earnings by $227 million.
(6) Refer to Note 22, “Discontinued Operations,” for a discussion regarding the earnings (loss) from discontinued operations.
(7) Excludes short-term borrowings and current portion of long-term debt.