Kodak 2006 Annual Report Download - page 86

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Components of the Company’s Consolidated Statement of Financial Position affected by the change in costing methodology as of December 31, 2005,
as originally reported under the LIFO method and as adjusted for the change in inventory costing methodology from the LIFO method to the average
cost method are as follows (in millions):
LIFO to Average
As Previously Cost Change in Costing
Reported Methodology Adjustments As Adjusted
Assets
Current Assets
Inventories, net $ 1,140 $ 315 $ 1,455
Total Current Assets 5,781 315 6,096
Total Assets $ 14,921 $ 315 $ 15,236
Shareholders’ Equity
Retained earnings $ 6,402 $ 315 $ 6,717
Total Shareholders’ Equity 1,967 315 2,282
Total Liabilities & Shareholders’ Equity $ 14,921 $ 315 $ 15,236
Components of the Company’s Consolidated Statement of Cash Flows affected by the change in costing methodology for the year ended December
31, 2005 as originally reported under the LIFO method and as adjusted for the change in inventory valuation methodology from the LIFO method to the
average cost method are as follows (in millions):
LIFO to Average
As Previously Cost Change in Costing
Reported Methodology Adjustments (1) As Adjusted
Cash flows relating to operating activities:
Net (loss) earnings $ (1,362) $ 101 $ (1,261)
Adjustments to reconcile to net cash
provided by operating activities:
Provision (benefit) for deferred taxes 476 (133) 343
Decrease in inventories 274 32 306
Net cash provided by operating activities $ 1,208 $ — $ 1,208
(1) Refer to footnote (1) on Page 78.