Company: KODK
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040256
Chunk: 134

Company: EASTMAN KODAK CO
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1B
Chunk 134
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        2024

        2023

        2022

        Lease income - sales-type leases
         
        $
        2

        $
        1

        $
        1

        Lease income - operating leases

        9

        9

        8

        Variable lease income (1)

        6

        5

        5

        Total lease income
         
        $
        17

        $
        15

        $
        14

      (1) Variable lease income primarily represents operating costs under real estate leases and incremental variable income based on usage under equipment leases.Equipment subject to operating leases and the related accumulated depreciation were as follows: 

        As of December 31,

        (in millions)
         
        2024

        2023

        Equipment subject to operating leases
         
        $
        24

        $
        26

        Accumulated depreciation

        (17
        )

        (18
        )

        Equipment subject to operating leases, net
         
        $
        7

        $
        8

       Equipment subject to operating leases, net is included in Property, plant and equipment, net in the Consolidated Statement of Financial Position.

NOTE 11: COMMITMENTS AND CONTINGENCIESAsset Retirement ObligationsKodak’s asset retirement obligations primarily relate to asbestos contained in buildings that Kodak owns. In many of the countries in which Kodak operates, environmental regulations exist that require Kodak to handle and dispose of asbestos in a special manner if a building undergoes major renovations or is demolished. Otherwise, Kodak is not required to remove the asbestos from its buildings. Kodak records a liability equal to the estimated fair value of its obligation to perform asset retirement activities related to the asbestos, computed using an expected present value technique, when sufficient information exists to calculate the fair value. Kodak does not have a liability recorded related to every building that contains asbestos because Kodak cannot estimate the fair value of its obligation for certain buildings due to a lack of sufficient information about the range of time over which the obligation may be settled through demolition, renovation or sale of the building.

80

The balance of asset retirement obligations was $43 million and there was no significant activity for either of the years ended December 31, 2024 and 2023. Other Commitments and ContingenciesAs of December 31, 2024 the Company had outstanding letters of credit of $