Company: KODK
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040256
Chunk: 133

Company: EASTMAN KODAK CO
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1B
Chunk 133
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 a debt-type instrument, the redemption feature is considered to be clearly and closely related to the host contract and therefore was not required to be separated from the Series C Preferred Stock.Series C Registration Rights Agreement On February 26, 2021, the Company and the Investor entered into a Registration Rights Agreement (the “Series C Registration Rights Agreement”) which provides the Investor with customary registration rights in respect of the shares of Common Stock issuable upon conversion of the Series C Preferred Stock. The Series C Registration Rights Agreement contains other customary terms and conditions, including certain customary indemnification obligations.

NOTE 10: LEASESKodak as lesseeThe table below presents the lease-related assets and liabilities on the Consolidated Statement of Financial Position: 

        Classification in the
         
        December 31,

        (in millions)
         
        Consolidated Statement of Financial Position
         
        2024

        2023

        Assets

        Operating lease assets
         
        Operating lease right-of-use assets
         
        $
        27

        $
        30

        Finance lease assets
         
        Property, plant and equipment, net

        1

        1

        Total lease assets

        $
        28

        $
        31

        Liabilities

        Current

        Operating lease liabilities
         
        Current portion of operating leases
         
        $
        11

        $
        13

        Noncurrent

        Operating lease liabilities
         
        Operating leases, net of current portion

        21

        24

        Finance lease liabilities
         
        Long-term debt, net of current portion

        1

        1

        Total lease liabilities

        $
        33

        $
        38

       Lease CostsThe table below presents certain information related to the lease expense for finance and operating leases. Lease expense is presented gross of sublease income. See “Kodak as Lessor” section below for income from subleases. 

        Year Ended December 31,

        (in millions)
         
        2024

        2023

        2022

        Finance lease expense

        Amortization of leased assets
         
        $
        1

        $
        1

        $
        1

        Interest on lease liabilities

        —

        —

        —

        Operating lease expense

        16

        16

        17

        Variable lease expense (