Kodak 2013 Annual Report Download - page 135

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Table of Contents
The following table summarizes the major classes of assets and liabilities related to the disposition of the Business which have been segregated
and included in assets held for sale and liabilities held for sale in the Consolidated Statement of Financial Position:
Discontinued operations of Kodak include the Business (excluding the consumer film business, for which Kodak has entered into an ongoing
supply arrangement with one or more KPP Purchasing Parties), digital capture and devices business (exited in the third quarter of 2012), Kodak
Gallery (exited in the third quarter of 2012), and other miscellaneous businesses.
The significant components of revenues and earnings (loss) from discontinued operations, net of income taxes are as follows:
Kodak was required to use a portion of the proceeds from the divestiture of the Business to repay $200 million of the Junior DIP Credit
Agreement. Interest expense on the debt that was required to be repaid as a result of the sale of the Personalized Imaging and Document
Imaging businesses has therefore been allocated to discontinued operations ($0 and $14 million for the four months ended December 31, 2013
and the eight months ended August 31, 2013, respectively, and $19 million and $17 million for the years ended December 31, 2012, and
December 31, 2011, respectively).
PAGE 128
(in millions)
Successor
Predecessor
As of December
31, 2013
As of December 31,
2012
Receivables, net
$
16
$
180
Inventories, net
62
123
Property, plant and equipment, net
10
86
Goodwill
—
146
Other assets
7
43
Current assets held for sale
$
95
$
578
Trade payables
$
24
$
77
Miscellaneous payables and accruals
14
159
Pension liabilities
—
1,525
Other liabilities
—
12
Liabilities subject to compromise
—
8
Current liabilities held for sale
$
38
$
1,781
Successor
Predecessor
(in millions)
Four Months
Ended
December 31,
2013
Eight Months
Ended August
31, 2013
Year Ended
December 31,
2012
Year Ended
December 31,
2011
Revenues from Personalized and Document
Imaging
$
77
$
738
$
1,350
$
1,508
Revenues from Digital Capture and Devices
operations
—
6
36
659
Revenues from Kodak Gallery operations
—
—
29
85
Revenues from other discontinued operations
1
17
50
185
Total revenues from discontinued operations
$
78
$
761
$
1,465
$
2,437
Pre-tax earnings (loss) from Personalized and
Document Imaging
$
5
$
(217
)
$
51
$
53
Pre-tax earnings (loss) from Digital Capture and
Devices operations
1
2
(78
)
(54
)
Pre-tax earnings (loss) from Kodak Gallery
operations
—
1
4
(31
)
Pre-tax (loss) earnings from other discontinued
operations
—
17
)
(7
)
30
(Provision) benefit for income taxes related to
discontinued operations
(2
)
96
(12
)
(23
)
Earnings (loss) from discontinued operations, net
of income taxes
$
4
$
(135
)
$
(42
)
$
(25
)