Company: KODK
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040256
Chunk: 86

Company: EASTMAN KODAK CO
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1B
Chunk 86
---
 Union member states, enacted legislation that took effect on January 1, 2024. To mitigate the administrative burden in complying with the OECD Global BEPS rules during the initial years of implementation, the OECD developed the temporary “Transitional Country-by-Country Safe Harbor” ("Safe Harbor"). The Safe Harbor applies for fiscal years beginning on or before December 31, 2026. Under the Safe Harbor, the top-up tax for such jurisdiction is deemed to be zero, provided that at least one of the Safe Harbor tests is met for the jurisdiction. 

Kodak was able to avail itself of the Pillar 2 Safe Harbor in most of the jurisdictions in which it operates. As of December 31, 2024, the impact of Pillar 2 legislation was immaterial to Kodak.  

General implementation of the Global minimum tax (by non- US taxing authorities) became effective January 1, 2025. Kodak’s policy is to recognize the impact related to the Safe Harbor as period costs. The Company believes that it will continue to benefit from the Safe Harbor provisions and that there will not be a material impact to the financial statements. 

45

Kodak will continue to monitor the legislative developments of Pillar 2 framework in the jurisdictions in which it operates.

Contractual Obligations 

The impact that contractual obligations are expected to have on Kodak's cash flow in future periods is as follows:

    As of December 31, 2024

    (in millions)
     
    Total

    2025

    2026

    2027

    2028

    2029

    2030+

    Long-term debt (1)
     
    $
    572

    $
    1

    $
    1

    $
    2

    $
    561

    $
    1

    $
    6

    Interest payments on debt (2)

    158

    38

    40

    41

    37

    1

    1

    Operating lease obligations

    46

    14

    8

    6

    5

    4

    9

    Purchase obligations (3)

    19

    9

    6

    2

    1

    1

    —

    Convertible preferred stock cash   dividends (4)

    7