Company: KODK
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040256
Chunk: 83

Company: EASTMAN KODAK CO
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1B
Chunk 83
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 net proceeds from the sale of Target Non-Core Assets (as defined in the Amended and Restated Term Loan Agreement).

Amended and Restated Letter of Credit Facility Agreement  

Approximately $27 million and $31 million of letters of credit were issued under the Amended and Restated L/C Facility Agreement  as of December 31, 2024 and 2023, respectively. The letters of credit under the Amended and Restated L/C Facility Agreement are collateralized by cash collateral (the “L/C Cash Collateral”). The L/C Cash Collateral was $29 million and $32 million at December 31, 2024 and 2023, respectively, which was classified as Restricted Cash. 

43

Cash Flow:

Cash, cash equivalents and restricted cash balances were as follows:

    As of December 31,

    (in millions)
     
    2024

    2023

    Cash, cash equivalents and restricted cash
     
    $
    301

    $
    377

Cash Flow Activity

    Year Ended December 31,

    Year-Over-

    (in millions)
     
    2024

    2023

    Year Change

    Cash flows from operating activities:

    Net cash (used in) provided by operating activities
     
    $
    (7
    )
     
    $
    38

    $
    (45
    )

    Cash flows from investing activities:

    Net cash used in investing activities

    (39
    )

    (32
    )

    (7
    )

    Cash flows from financing activities:

    Net cash (used in) provided by financing activities

    (23
    )

    85

    (108
    )

    Effect of exchange rate changes on cash, cash   equivalents and restricted cash

    (7
    )

    —

    (7
    )

    Net (decrease) increase in cash, cash equivalents and restricted cash
     
    $
    (76
    )
     
    $
    91

    $
    (167
    )

Operating Activities

Net cash from operating activities declined $45 million for the year ended December 31, 2024 as compared with the prior year primarily due to a decrease in liabilities excluding borrowings and trade payable of $67 million, driven by $57 million of deferred revenue related to brand licensing agreements entered into in the prior year, increased investment in inventory ($26 million), decline in proceeds