Kodak 2015 Annual Report Download - page 52

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The following other postretirement benefits, which reflect expected future service, are expected to be paid:
(in millions)
2016 $ 5
2017 5
2018 5
2019 4
2020 4
2021-2025 19
NOTE 18: EARNINGS PER SHARE
Basic earnings per share are calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share
calculations include any dilutive effect of potential common shares. In periods with a net loss from continuing operations, diluted earnings per share are calculated
using weighted-average basic shares for that period, as utilizing diluted shares would be anti-dilutive to loss per share.
As a result of the net loss from continuing operations for the years ended December 31, 2015 and December 31, 2014 and four months ended December 31, 2013,
Kodak calculated diluted earnings per share using weighted-average basic shares outstanding for those periods. If Kodak had reported earnings from continuing
operations for the years ended December 31, 2015 and December 31, 2014 and four months ended December 31, 2013, the following potential shares of its
common stock would have been dilutive in the computation of diluted earnings per share:
(in millions of shares)
Year Ended
December 31, 2015
Year Ended
December 31, 2014
Four Months Ended
December 31, 2013
Unvested share-based awards 0.2 0.1 0.2
Warrants to purchase common shares 0.3 1.5 1.7
Total 0.5 1.6 1.9
The computation of diluted earnings per share for the years ended December 31, 2015 and December 31, 2014 also excluded 0.1 million shares associated with the
assumed conversion of outstanding employee stock options because the effects would have been anti-dilutive. There were no employee stock options outstanding
for the four months ended December 31, 2013.
The Predecessor Company reported earnings from continuing operations for the eight months ended August 31, 2013. However, the computation of diluted
earnings per share for the eight months ended August 31, 2013 excluded the assumed conversion of outstanding employee stock options and detachable warrants to
purchase common shares, and approximately $400 million of convertible senior notes due 2017 because the effects would have been anti-dilutive. The following
table sets forth the total amount of outstanding employee stock options and detachable warrants to purchase common shares as of August 31, 2013:
Predecessor
(in millions of shares)
Eight Months Ended
August 31, 2013
Employee stock options 7.0
Detachable warrants to purchase common shares 40.0
Total 47.0
NOTE 19: STOCK-BASED COMPENSATION
Kodak’s stock incentive plan is the 2013 Omnibus Incentive Plan (the “2013 Plan”). The 2013 Plan is administered by the Executive Compensation Committee of
the Board of Directors.
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