Company: KODK
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040256
Chunk: 242

Company: EASTMAN KODAK CO
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 242
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bt and Credit Facilities” for information on the Restricted cash supporting the L/C Cash Collateral). In addition, restricted cash as of December 31, 2024 and 2023 included $55 million and $63 million, respectively, representing cash collateral supporting the Company’s undiscounted actuarial workers’ compensation obligations with the New York State Workers’ Compensation Board ("NYS WCB"). Restricted cash as of December 31, 2024 and 2023 included $6 million and $8 million, respectively, of security posted related to Brazilian legal contingencies. In addition, restricted cash as of December 31, 2023 included $5 million of cash collateral posted in the United Kingdom for a letter of credit for aluminum purchases. 

NOTE 3: INVENTORIES, NET 

        As of December 31,

        (in millions)
         
        2024

        2023

        Finished goods
         
        $
        90

        $
        85

        Work in process

        69

        68

        Raw materials

        60

        64

        Total
         
        $
        219

        $
        217

       During the third quarter of 2024, Kodak recorded an inventory reserve adjustment of $4 million in its Electrophotographic Printing Solutions (“EPS”) business related to higher-than-expected volume declines for certain component and service parts sold to its installed base of printers due to the negative impact of recent pricing actions and ceasing the manufacturing of NEXFINITY printers effective December 2022. During the fourth quarter of 2024, Kodak recorded an inventory reserve adjustment of $4 million related to EPS black and white consumables and service parts due to the reduction in forecasted demand communicated from its primary distributor. The inventory reserve adjustments are recorded in Cost of revenues in the Consolidated Statement of Operations.  

NOTE 4: PROPERTY, PLANT AND EQUIPMENT, NET 

        As of December 31,

        (in millions)
         
        2024

        2023

        Land
         
        $
        45

        $
        55

        Buildings and building improvements

        137

        137

        Machinery and equipment

        434

        420

        Construction in progress

        55

        27

        Property, plant and equipment, gross

        671

        639

        Accumulated depreciation

        (482