About Eastman Kodak Financial Statements There are typically three primary documents that fall into the category of financial statements. Adjustments to reconcile to net cash used in operating activities: Change in fair value of Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation reserves, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash (used in) provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net (decrease) increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. Kodak continued to navigate through an unusually challenging business environment in 2021 and delivered revenue growth in all our segments for the first time in years, said Jim Continenza, Kodaks Executive Chairman and CEO. Kodak Reports First-Quarter 2022 Financial Results, https://www.businesswire.com/news/home/20220510006135/en/, Pension income excluding service cost component, Selling, general and administrative expenses, Loss from continuing operations before interest expense, pension income excluding service cost component, other charges, net and income taxes, (Loss) earnings from continuing operations before income taxes, Property, plant and equipment, net of accumulated depreciation of, Short-term borrowings and current portion of long-term debt, Pension and other postretirement liabilities. Consists of third party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. In July 2022, Kodak invested $25 million of the proceeds received from the delayed draw term loans to acquire the minority stake in Wildcat. We are committed to environmental stewardship and ongoing leadership in developing sustainable solutions. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. ROCHESTER, N.Y.--(BUSINESS WIRE)--Mar. Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Unaudited) (in millions) March 31, December 31, 2021 2020 ASSETS Cash and cash equivalents $ 196401 $ Trade receivables, net of allowances of $9 and $10, respectively 165 177 . Eastman Kodak Company (KODK) Income Statement - Yahoo Finance U.S. markets closed (+0.31%) Dow 30 Nasdaq +72.04(+0.63%) Russell 2000 +5.78(+0.31%) (+0.11%) (-0.03%) Eastman Kodak Company. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. We continue to invest in digital print technologies designed to help our customers mitigate cost and supply risks associated with traditional prepress. Operational EBITDA for the second quarter was $11 million, compared to $10 million in Q2 2021. . "Our profitability during the quarter was negatively impacted by the challenging business environment, including factors such as increasing labor and materials costs and the impact of foreign exchange. Operating profit, which measures the success of a company in its normal, ongoing business operations apart from financing and investing activities and tax considerations, decreased significantly from $1,168 Mio. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Kodak's Q1 2012 financial statement reveals a $366 million net loss and a 27 percent decline in revenue from Q1 2011 (to $965 million), but the company has also significantly cut costs and. . Copyright 2023 Eastman Kodak Company. We have also officially launched two products powered by our groundbreaking ULTRASTREAM inkjet technology: the KODAK PROSPER ULTRA 520 Press, which offers offset print quality in a smaller footprint, and the first flexible package printing system, the UTECO Sapphire EVO W Press. "Jansen's heart could be seen in his eyes, and his charm in his brilliant, engaging smile; his soul in his masterful and revealing paintings, and the joy of life in his dry wit," the . This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings "Business," "Risk Factors," "Legal Proceedings," and/or "Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources," in the corresponding sections of Kodaks Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; the impact of the global economic environment, including inflationary pressures, or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate associated increased costs of materials, labor, shipping and operations, and fluctuations in demand; the performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impacts of the war in Ukraine and the international response thereto on Kodaks business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional or alternate financing if and as needed, Kodaks continued ability to manage world-wide cash through inter-company loans, distributions and other mechanisms, and Kodak's ability to provide or facilitate financing for its customers; the impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a nonbinding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; Kodaks ability to effect strategic transactions, such as investments, acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. This press release includes "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995. Income Statement. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. This report presents the comparative financial analysis of the financial statements of Eastman Kodak and Nikon companies for the period ended 31 st December, 2009. Redeemable, convertible preferred stock, no par value, Accumulated other comprehensive income (loss). Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Form Filing date View; 10-K: Mar 15, 2022: View HTML. These documents include Eastman Kodak income statement, its balance sheet, and the statement of cash flows. As planned, the Company also continues to invest in new product innovations and growth areas, said David Bullwinkle, Kodaks CFO. The focus of this post is to ascertain whether the financial statements of the Kodak Corporation's 2007 Annual Report revealed a high level of quality financial reporting. When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. | February 28, 2023 Financial Results Overview News / Events Company Info Stock Data SEC Filings Governance Shareholder Services 2022 Q3 2022 Quarter Ended Oct 29, 2022 Earnings Release PDF HTML Earnings Webcast Audio 10-Q PDF HTML Presentation PDF Infographic PDF Q2 2022 Quarter Ended Jul 30, 2022 Earnings Release PDF HTML Earnings Webcast Audio 10-Q PDF HTML All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. Q3 2021 Actuals on constant currency ** vs. Q3 2020 Actuals, The Company ended the quarter with a cash balance of $380 million. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Key metrics from the second quarter, such as increasing revenues and gross profit on both a year-over-year and quarter-sequential basis, reflect the successful ongoing execution of our long-term strategy., Revenue and Operational EBITDA by Reportable Segment Q2 2022 vs. Q2 2021. Think of Kodak. Income statements, balance sheets, cash flow statements and key ratios. "We generated positive cash flow in the fourth quarter of 2019 and had. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Cautionary Statement Regarding Forward-Looking Statements. The Companys balance sheet is the strongest it has been in years due to the execution of our strategy. "For the third quarter of 2022, Kodak delivered year-over-year revenue growth for the sixth consecutive quarter. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended June 30, 2021, rather than the actual average exchange rates in effect for the three months ended June 30, 2022.Eastman Business Park segment is not a reportable segment and is excluded from the table above. A Florida judge ordered rapper Kodak Black to drug rehab for 30 days on Tuesday after he allegedly tested positive for fentanyl while awaiting trial on a drug trafficking charge. Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. Income Statement. The notes accompanying the financial statements contained in the Companys first quarter 2022 Form 10-Q are an integral part of these consolidated financial statements. Broward County Judge Barbara Duffy allowed the performer to remain free until March 7 so he could perform at the Rolling Loud concert near Los Angeles over the weekend, The Miami Herald reported. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. In addition, we continue to make significant investments in our Advanced Materials & Chemicals business, such as our minority stake in Wildcat Discovery Technologies, Inc., a private technology company that is developing a breakthrough EV and energy storage super cell battery technology. On July 13, 2022, Kodak invested $25 million received from the loans to acquire a minority stake in Wildcat Discovery Technologies. The change in revenues and Operational EBITDA on a constant currency basis, as presented in this financial results news release, is calculated by using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. Eastman Business Park segment is not a reportable segment and is excluded from the table above. The notes accompanying the financial statements contained in the Companys Annual Report on Form 10-K for the year ended December 31, 2021 are an integral part of these consolidated financial statements. With a strategy of company's focus on pictures, new products, a strengthening market position, and investments for growth, Kodak has experienced in traditional film and photo imaging business for more than a century. Operational EBITDA represents the income from continuing operations before income taxes excluding earnings from discontinued operations, net of income taxes, loss on early extinguishment of debt, non-service cost components of pension and OPEB income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net; interest expense; and other (income) charges, net. Critically assess the uses and limitations of financial statements The definition for a financial statement is a written report which quantitatively describes the financial health of a company. Consists of third-party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. We also saw increases in customer satisfaction and market share in our key print business, achievements which reflect the success of our ongoing strategy: focus on our core businesses in commercial print and advanced materials and chemicals, invest in product innovation and put our customers at the center of everything we do.. ROCHESTER, N.Y.-- ( BUSINESS WIRE )--Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2021, including consolidated revenues of $265 million and an. View Kodak Financial statements.xlsx from ENTR 3100 at Simon Fraser University. View Kodak Financial statements.xlsx from BUS 311 at Mount Kenya University. Id like to thank our loyal customers and our employees for helping us deliver these results," said Jim Continenza, Kodaks Executive Chairman and CEO. Accordingly, where they are provided, it is to give investors the same financial data management uses with the belief that this information will assist the investment community in properly assessing the underlying performance of Kodak, its financial condition, results of operations and cash flow. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Operational EBITDA for the year ended December 31, 2021 was $11 million, compared to negative $1 million in 2020. Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020 GAAP net income of $24 million, compared with a net loss of $541 million for 2020 Operational EBITDA of. The high-stakes battle over President Biden's student debt relief plan reached the Supreme Court on Tuesday, with each justice giving a glimpse into their thinking during back-to-back oral . * Total Operational EBITDA is a non-GAAP financial measure. Annual. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Financial statements for businesses usually include income statements , balance sheets , statements of retained earnings and cash flows . Copyright 2023 Eastman Kodak Company. Discovery Company profile page for Trade-Van Information Services Co. including technical research,competitor monitor,market trends,company profile& stock symbol For the quarter ended June 30, 2022, revenues were $321 million, an improvement of $30 million compared to the same period in 2021. Cautionary Statement Regarding Forward-Looking Statements. (www.investorwords.com) It consists of a balance sheet income statements and a cash flow statement.This essay will critically asses the uses and limitations of each of these types of financial . Eastman Kodak Company today reported financial results for the third quarter 2020, including consolidated revenues of $252 million and a $13 million increase in cash. AccountingBusinessFinancial Accounting The Companys balance sheet is the strongest it has been in years due to the execution of our strategy. View Kodak Financial statements.xlsx from ENTR 3100 at Kwantlen Polytechnic University. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. * Total Operational EBITDA is a non-GAAP financial measure. WPLG. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. EX-101.SCH - XBRL TAXONOMY EXTENSION SCHEMA: 10-K: Mar 16, 2021: View HTML . For the full year ended December 31, 2021, revenues were $1.150 billion, an improvement of $121 million compared to the same period in 2020. Kodak ended the third quarter with a cash balance of $216 million, a net decrease of $146 million from December 31, 2021. Leadership Careers Diversity & Inclusion Social Responsibility Financials Environment, Health and Safety Locations Contact Us The impact of foreign exchange is calculated by using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. Sherrod Brown and JD Vance . Discovery Company profile page for Shanghai Mifang Electronic Technology Co. Ltd. including technical research,competitor monitor,market trends,company profile& stock symbol in 2004, which raises three caution flags: View source version on businesswire.com: https://www.businesswire.com/news/home/20220510006135/en/, Media Contact: ROCHESTER, N.Y. -- (BUSINESS WIRE)--Mar. Kodak used $15 million in cash for the quarter, primarily driven by ongoing global cost increases which we are taking actions to address. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. 1,124 Followers. Cash Flow. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings Business, Risk Factors, Legal Proceedings, and/or Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources, in the corresponding sections of Kodaks Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; the performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impact of the global economic environment or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate or recoup associated increased costs of materials, labor, shipping and operations; the impacts of the war in Ukraine and the international response thereto on Kodaks business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; the impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a nonbinding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional financing if and as needed and Kodaks ability to provide or facilitate financing for its customers; Kodaks ability to effect strategic transactions, such as acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). Rapper Kodak Black has avoided further jail time after he was accused of violating his bail terms in a drug possession case. Financial Information Here you will find a summary of Eastman Kodak Company's latest financial information. Fourth Quarter Financial Results On February 28, 2023, Novavax, Inc. issued a press release announcing the Company's financial results for. Kodak Refer to the following financial statements for Kodak: CASE 9-1 Kodak: Forecasting Pro Forma Financial Statements Required: Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions: a. 31, 2021: View HTML cause Kodaks actual results to differ materially from the loans to a. 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