The pioneer manufacturers of lamination film in China.

eastman kodak company (kodk)

by:Top-In     2020-01-12
Washington, DC Securities and Exchange CommissionC. 20549FORM 10-K[X]
Annual Report submitted under Section 13 or 15 (d)
The Securities Trading Act for the year ended December 31, 2014 or the transition report submitted under section 13,15 (d)
Securities trading law for the transition period from _ to _ Commission document number 1-1934
Eastman 87 Kodak Company (
The exact name of the registrant specified in the articles of association)NEW JERSEY16-0417150(
Registration status)(
IRS employer identification number)
343 Rochester State Street, New York (
Main executive office address)(Zip Code)
The telephone number of the registrant, including the area code: 585-724-
4000 securities registered under section 12th (b)
Title of the act: each class name of each exchange registered for common stock, $0.
01 face value New York Stock Exchange Bonds registered under section 12th (g)
The point of the bill is: if the registrant is a well, no one has indicated it by check mark
Well-known experienced issuers as defined in Rule 405 of the Securities Act. Yes[]No[X]
Indicate by check mark whether the registrant does not need to submit a report under Section 13 or section 15 (d)of the Act. Yes[]No[X]
Indicate by check mark whether the registrant (1)
All reports requested by Article 13 or 15 have been submitted (d)
The Securities Trading Act of 1934 in the first 12 months, and (2)
This filing requirement has been bound for the last 90 days. Yes[X]No[]
Indicate by check mark whether the registrant has electronically submitted and posted on his company\'s website (if any), each interactive data submitted and published in accordance with S-Regulation section 405thT(§ 232.
This Chapter 405)
Within the first 12 months (
Or in such a short time that the registrant is required to submit and publish these documents). Yes[X]No[]
If the declaration of arrears is disclosed under S-regulation 405th, please indicate by check markK (§ 229.
This Chapter 405)
As the registrant is aware, it is not included here and will not be included in the final proxy or information statement referenced in Part 3 of this form --
K or any amendments to this form 10K. []
Indicate whether the registrant is a large accelerated filer, accelerated filer, or non-accelerated filer by check mark
A smaller reporting company.
See the definition of \"large accelerated file manager\", \"accelerated file manager\" and \"small Reporting Company\" in rule 12b
2 of the Trading Act.
Big speed filer]]
Accelerating film [X]Non-
Accelerating film []
Small report Company []
Indicate whether the registrant is a shell company by check mark (
Defined in Rule 12b-
2 parts of the transaction law)Yes[]No[X]
Total market value of voting ordinary shares held by non-shareholders
Affiliates calculated based on the price of the last sale of common shares, as of the last working day of the second fiscal quarter recently completed by the registrant, June 30, 2014 was approximately $0. 24 billion.
Registrant nothing more
Ordinary shares with voting rights
As of March 2, 2015, the number of outstanding shares of the registrant\'s common stock was 41,873,154 ordinary shares.
Kodak company Form 10-
K Table 1 of ContentsPagePart IItem December 31, 2014.
Business project 1A.
Project 1B.
Unresolved staff comments item 16 2.
Project 3.
The fourth legal procedure.
17 executive officers registered for mine safety disclosure of 18 iiitem 5.
Market 21 item 6 of the registrant\'s common stock, related shareholder matters and the issuer\'s purchase of equity securities.
23 Selected Financial Data 7.
Management\'s Discussion and Analysis of the financial position and results of operating 26 liquidity and capital resources 41 7A.
Quantitative and qualitative disclosure of market risks
Financial statements and supplementary materials 45 comprehensive operating statements 47 comprehensive operating statements (Loss)
Consolidated Statement of Financial Status 49 consolidated statement of rights and interests (Deficit)
50 consolidated cash flow statement for financial statements 52 Note 54 item 9.
Changes and differences with accountants in accounting and financial disclosure
Control and program 126 item 9B.
Section IIIItem 10 of other information.
Directors, executive officers and corporate governance
Item 12 administrative compensation.
Secured ownership of certain beneficial owners and management and related shareholders.
Related matters such as related party transactions and director independence.
Main accounting fees and service fees for IVItem 15.
Schedule of financial statements
Valuation and qualified accounting of exhibit item 1.
Unless the context says otherwise, otherwise, the use of \"we\", \"we\" \"and\" Kodak \"in this report refers to the consolidated company established under the merger described in Note 1 to the consolidated financial statements under item 8 of Part II, \"Financial Statements and supplementary materials\" 10-K Report.
In addition, unless otherwise stated in the context, \"EKC\" means the parent company Eastman Kodak (the “Company”).
Kodak is a technology company focused on imaging for businesses.
Based on its expertise in the three core technologies of material science, Kodak provides commercial products and services;
Digital Imaging Science and Software
And the deposition process.
Kodak\'s portfolio of products and services is designed to meet the needs of customers in different industries and cycles in the commercial imaging and printing markets.
Kodak uses its core technology products and services to develop solutions for the product packaging and graphic communications market and commercialize products for the functional printing market.
Kodak also offers brand licensing and intellectual property opportunities to provide products and services for films and other commercial films and to sell ink to its existing installed consumer inkjet printer base.
The company was founded by George Eastman in 1880 and was founded in New Jersey in 1901.
Kodak is headquartered in Rochester, New York.
According to the procedure of January 19, 2012, it appears from voluntary restructuring (
\"Date of Petition \")
The company and its U. S. subsidiaries (
\"Debtor \")
Voluntary application for relief (
\"Bankruptcy application \")
According to Chapter 11 of the United States Bankruptcy Code (
Code of bankruptcy)
Bankruptcy Court in the Southern District of New York (
\"Bankruptcy Court \"). The cases (
Chapter 11 cases \")
Co-management as Case No. 12-10202 (ALG)
The title is \"at Eastman Kodak.
The debtor operates as a \"debtor\"in-
Under the jurisdiction of the bankruptcy court, under the applicable provisions of Chapter 11 of the bankruptcy law and the orders of the bankruptcy court, possession \"until they appear from bankruptcy.
Foreign subsidiaries of the company (
In general ,\"
Filing entity \")
Not part of Chapter 11 cases, continue to operate in the normal course of operation.
On August 23, 2013, an order was made by the Bankruptcy Court (
\"Confirm order \")
Confirm the revised first revised Joint Chapter 11 reorganization plan of Eastman Kodak and its debtor affiliates (the “Plan”).
September 3, 2013 (
\"Effective Date \")
The plan came into effect and the debtor stood out from Chapter 11 protection.
After the new starting point accounting began to appear in Chapter 11, Kodak applied the new starting point accounting regulations in the financial statements as of September 1, 2013.
The adoption of the new starting point accounting makes Kodak a new financial reporting entity.
Therefore, consolidated financial statements on or after September 1, 2013 are not comparable to consolidated financial statements prior to that date.
The reference to \"successor\" or \"successor company\" is related to Kodak, which was reorganized after the effective date.
The reference to \"ex\" or \"ex company\" relates to Kodak before the effective date.
Reporting market segments skodak reports two financial information that can be reported for market segments: Graphic, entertainment and commercial film segments and digital printing and enterprise segments.
The balance of Kodak\'s ongoing operations does not meet the standard of a market segment that can be reported in all other companies and consists of Kodak\'s consumer film business in countries that have not yet transferred ownership to KPP purchasers (
As defined in Note 24, \"the emergence of voluntary restructuring under Chapter 11 procedures\", section \"KPP global agreement\" in the notes to the financial statements)
And the utility variable interest entity.
Since August 31, 2013, the company has sold certain utilities and related facilities and has worked with RED-
Rochester LLC, a variable interest entity.
Kodak\'s sales, revenue and reportable segment assets for each of the past three years are displayed in Note 23, \"segment information\" to the financial statements.
3. Graphic, entertainment and commercial films (“GECF”)
The Gecgecf division provides digital and traditional products and services for a wide range of commercial industries, including commercial printing, direct mail, book publishing, newspapers and magazines, offset packaging (
Packaging printed using offset printing)
Film Entertainment, printing electronics and the industrial film market.
Graphics: Kodak\'s graphic portfolio, covering the previous
Printing machine parts in offset printing market, including digital edition, production workflow software, computerto-
Tablet and digital front endTerminal controller.
Kodak also offers services and support related to its graphic products.
Graphic products and services are sold directly to customers by Kodak, and also indirectly to customers through dealers.
Kodak\'s digital offset products include traditional digital offset versions and Kodak Sonora process-free versions.
Kodak SONORA process free board is an offset board that can be prepared directly with a computerto-
The hot output device of the plate does not require subsequent processing chemistry, processing equipment or chemical treatment.
As a result, the SONORA process freedom Board provides customers with cost savings and efficiency and promotes environmental sustainability practices.
Customers use the production workflow software to manage digital and traditional print content from file creation to output.
Kodak\'s production workflow software includes Kodak PRINERGY Workflow software, Kodak PREPS platter software, Kodak color flow software and Kodak field software products.
Production Workflow software manages content and colors, reduces manual errors, and helps customers manage collaborative authoring processes. ·Computer-to-
The customer uses a flat panel thermal output device to transmit images to an aluminum offset plate and provides consistent and high-quality image carriers for offset printing applications.
Kodak computerto-
The products of plate making machine and tide man include Kodak mag plate making machine with SQUARESPOT imaging technology, which provides thermal imaging with high definition, consistency and stability.
Kodak also provides the ACHIEVE platform for TH5 imaging technology, which provides efficient and economical
Effective imaging solutions for lower prices. ·Digital front-
The terminal controller, known as the Kodak CREO server, is used by customers to drive personalized content to digital presses while controlling color and print consistency.
Annual net sales as at December 31, 2014 accounted for 54%, 52%, 49% and 49% of total net income, for the four months ended December 31, 2013, for the eight months ended August 31, 2013 and for the year ended December 31, 2012.
Entertainment video and commercial film: the film and film business of Kodak entertainment video and commercial Film Group serves the entertainment and advertising industry.
Film products are sold directly to studios, laboratories and independent filmmakers.
The group also provides industrial films, including those used by the electronics industry to produce printed circuit boards.
Entertainment Imaging and commercial films also include related component businesses: polyester film, specialty chemicals, inks and dispersion, and solvent recovery.
In January 2015, Kodak finalized a new film supply agreement with major Hollywood studios.
Despite a sharp drop in sales, these agreements have made it possible for Kodak to continue producing film, while seeking new opportunities in growing applications to leverage film production technologies such as touch screens for smartphones and tablets.
Net sales of entertainment images and commercial films accounted for 10%, 11%, 13% and 14% of total annual net income as of December 31, 2014, for the four months ended December 31, 2013, 8 months as at August 31, 2013 and 8 months as at December 31, 2012.
Intellectual property and brand licensing: intellectual property and brand licensing includes licensing activities related to Kodak patents, proprietary technologies and brands.
With regard to brand licensing, Kodak currently uses its brand licensing for a range of consumer goods, including battery, camera and camera accessories, and recordable media.
Kodak intends to continue its efforts to expand its portfolio of consumer product license holders to generate an ongoing royalty stream and advance payment.
In addition, Kodak actively seeks opportunities to leverage its patents and related technologies in licensing and/or cross-licensing
Licensed transactions that support revenue growth and ongoing business.
Marketing and competition: key tasks and marketing priorities for the graphics business are: investment processesFree Technology;
Promote a fully optimized pre-press solution;
Deliver Next
Combination of printing software;
Expanding in emerging markets;
Drive operational excellence and profitability.
Kodak faces competition from other companies that offer commercial offset printing and digital printing equipment, production software, consumables and services.
Competition is often focused on a wide range of technologies, solutions, and prices.
The film business faces electronic substitution competition for digital shooting and Digital Cinema Display.
Digital printing and Enterprises (“DP&E”)
SegmentDP & E provides services to a wide range of customers in the market for commercial printing, packaging, newspapers, digital services
Factory and consumer printing market with a range of software, media and hardware products.
DP & E Products and services are sold directly by Kodak and indirectly through dealers.
4 Digital Printing: digital printing includes inkjet printing solutions and photographic printing solutions, equipment and related consumables and services.
Kodak\'s inkjet printing solutions include PROSPER Press and PROSPER System hybrid components with ultra-fast inkjet droplet generation.
The PROSPER Press has a flow inkjet technology that provides continuous ink flow that enables constant and consistent operation even at very high printing speeds, with uniform ink drop sizes and accurate
Applications for PROSPER Press include publishing, commercial printing, direct mail and packaging.
The business also includes a large number of customers who continue to use Kodak VERSAMARK products, the predecessor of PROSPER Press.
Users of Kodak VERSAMARK products continue to purchase ink and media consumables and services from Kodak.
The PROSPER System Hybrid Assembly is also integrated into the original equipment manufacturer partner portfolio, in which the manufacturer combines the PROSPER writing System with the printing machine System that transports paper mesh and other substrates through the printing machine.
The sale of equipment containing the PROSPER writing system will generate recurring revenue from the sale of ink and other consumables as well as equipment services.
The level of recurring revenue depends on the application that uses the device, which drives the total number of pages printed and the amount of ink used.
Electronic photo printing solutions include the NEXPRESS platform and the DIGIMASTER production platform.
NEXPRESS platform provides high
Quality, short differentiated printing
Run personalized printing applications such as direct mail, books, marketing materials and photo products.
DIGIMASTER production platform uses single-color film printing technology to create high
High quality printing of reports, short-term books, company documents, manuals and direct mail.
Net sales of digital printing accounted for 18%, 21%, 18% and 17% of annual net income as at December 31, 2014, for the four months ended December 31, 2013, for the eight months ended August 31, 2013 and for the year ended December 31, 2012, respectively.
Packaging and functional printing: Packaging and functional printing includes flexo printing equipment and platforms and related consumables and services, as well as printing functional materials and components.
The packaging business includes Kodak\'s flexcel nx system and FLEXCEL Direct platform, which provides digital services for the FLEXCEL printing market.
The flexcel nx system makes high resolution imaging using Kodak\'s proprietary SQUAREspot laser imaging technology, reducing waste and ink usage.
FLEXCEL direct platform provides process-
Low productivity and environmental benefits of processesless solution.
These printing production capabilities leverage offset, flexo and digital product and service portfolios to help customers maintain brand assets, enhance shelf appeal, and increase efficiency from design to solution.
The functional printing business utilizes Kodak\'s expertise in imaging, material science and deposition processes to manufacture products using printing processes previously manufactured using traditional technologies.
Functional printing has many advantages over traditional manufacturing, including cost and environmental impact.
The functional printing business is in its infancy-up phase.
Kodak\'s first move in functional printing is to focus on two separate solutions that provide a touchscreen sensor film for the touch screen industry.
These solutions consist of silver halides
Based on the solution and the additional print solution, both solutions are commercialized in partnership with business partners.
Enterprise services and solutions: enterprise services and solutions help organizations address the challenges and opportunities posed by the global digital transformation.
Enterprise services and solutions provide print and hosted media services, and use Kodak technology to provide customers with solutions to print requirements;
Brand protection technology and services to help brand owners fight counterfeiting and transfer;
And document management services including expertise in document capture, archiving, retrieval and delivery.
Enterprise services and solutions serve corporate customers in many industries including government, pharmaceutical and life sciences, consumer goods and luxury goods, and retail and financial services.
Consumer Inkjet Systems: Consumer inkjet systems include selling ink to existing consumer inkjet printer installation bases.
Net sales of consumer inkjet systems accounted for 6%, 7%, 9% and 11% of annual net income as of December 31, 2014, for the four months ended December 31, 2013, for the eight months ended August 31, 2013 and for the year ended December 31, 2012, respectively.
Marketing and competition: key priorities and marketing priorities for DP & E business are 1)
Expand the company\'s position in the high-end market.
Leveraging Kodak\'s success in the development and commercialisation of digital printing technology, the growing market for commercial inkjet, packaging and functional printing, including laser writing imaging technology and continuous stream inkjet technology, and 2)
Work with and provide professional services to customers in the commercial printing and digital imaging market to support new customer applications and business solutions.
DP & E faces competition from other companies that offer a range of commercial offset printing and digital printing equipment, consumables and services.
Competition is often focused on technology, solutions, and prices.
52015 Kodak sin 2015, Kodak implemented a new organizational structure to make the company faster
More competitive and entrepreneur spirit.
From January 1, 2015, financial information will be reported for printing systems, enterprise inkjet systems, Micro 3D printing and packaging, software and solutions, consumer and film components, intellectual property solutions and Eastman Business Park.
The printing system will include pre-printing solutions, including Kodak\'s digital offset products and computer-to-board imaging solutions, as well as electro-photographic printing solutions.
The Enterprise Inkjet System will include commercial inkjet printing solutions and digital front-end-Terminal controller.
Micro 3D printing and packaging will consist of packaging and functional printing.
The software and solutions will consist of Kodak technology solutions (including enterprise services and solutions) and workflow software.
Consumers and films will include consumer inkjet, Entertainment Imaging and commercial films as well as brand licensing.
IP solutions will include licensing and R & D activities that are not directly related to other departments.
Kodak\'s discontinued businesses include the personalized imaging and document imaging business, the Digital Capture and equipment business, the Kodak Gallery and other miscellaneous businesses.
For more information, see Note 27 \"discontinued business\" in the notes to the financial statements \".
Financial information by geographical region for the past three years is shown in Note 23 \"Segment information\" to the financial statements \".
The raw materials Kodak uses a variety of raw materials and are generally easy to buy.
Flat aluminum is the main material for the manufacture of offset printing plates.
Kodak purchases flat aluminum rolls on the spot or from several suppliers under the contract, which are usually signed within the next one to two years.
Electronic components are used to manufacture commercial printers and other electronic equipment.
Although most electronic components typically come from multiple sources, certain key electronic components contained in finished products manufactured and purchased by Kodak third-party suppliers are obtained from a single or limited source, kodak may face supply risks.
Due to customer or industry budget practices, business sequence sales in the fourth quarter are generally more seasonal.
Over the years, Kodak has made extensive and productive efforts in research and development.
Kodak\'s two R & D expenditures that can be reported in the market segment are as follows :(in millions)
2014 four months, 31 days, 2013 months, 31 days, 2013, entertainment and commercial films $21 $7 $13 $40 digital printing and enterprise 883355132 excluding the impact of certain parts of pension and other post-retirement benefits plan income on profitability (1)(15)(7)(2)(4)
Total $94 $33 $66 $168 (1)
Including interest costs, expected returns on planned assets, actuarial P & L Amortization, prior service credit amortization related to the United StatesS.
Special termination benefits, cuts and settlement sections for post-retirement benefits plans and pensions and other post-retirement benefits costs, except for settlement related to Chapter 11 bankruptcy proceedings recorded in the restructuring program, net, reduced and settled Income (loss)
Deduct the income tax in the comprehensive business report from the stop operation.
R & D is based in Rochester, New York. Other U. S.
Hotel Group in Stamford, Connecticut; Dayton, Ohio;
Oakdale, Minnesota;
And Columbus, Georgia. Outside the U. S.
The group is located in Canada, the UK, Israel, Germany, Japan and China.
These teams work closely with manufacturing units and marketing organizations to develop new products and applications that serve both existing and new markets.
Kodak\'s general practice is to protect its R & D investment and freedom to use inventions by obtaining patents.
Ownership of these patents helps Kodak\'s ability to provide industry services
Leading products.
Kodak has a patent portfolio in several areas important to its business, including specific technologies previously discussed, such as Flexo and flat print and systems;
Digital printing workflow and color management proofing system;
Color and blackand-
Printing system for white electrophotography;
Inkjet writing systems, printers and printing machines for commercial and consumer use;
Ink Jet and medium;
Functional printing materials, formulation and deposition methods;
Sublimation of dyes (
Heat transfer)
Printing System;
And color negatives, processing and paper.
Each of these areas is important for existing and emerging business opportunities that directly affect Kodak\'s overall business performance.
Kodak\'s main products do not rely on a single material patent.
Instead, the technology behind Kodak products is supported by patent aggregation with a variety of residual life and expiration dates.
There is no individual patent or patent group and its expiration is expected to have a significant impact on Kodak\'s operating results.
Kodak is subject to various laws and government regulations in environmental protection. The U. S.
Federal environmental legislation and state regulatory plans that have an impact on Kodak include the toxic substances Administration Act, the resource protection and recovery act, the Clean Air Act, the Clean Water Act, the amended 《 new York national regulations on bulk storage of chemicals and the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (
Super fund law).
Kodak\'s policy is to carry out business activities in a manner consistent with health, safety and environmental management practices and to comply with applicable health, safety and environmental laws and regulations.
Kodak continues to participate in environmental, health and safety protection and control programs.
Based on the information currently available, future costs associated with environmental compliance are not expected to have a significant impact on Kodak\'s capital expenditures or competitive position, although costs may be an important factor for a specific quarter or year.
At the end of 2014, Kodak hired about 7,300 full-time employees worldwide, of which about 3,200 were employed in the United States. S.
Due to some people working part-time, the actual number of employees may be larger.
Kodak submitted many reports to the Securities and Exchange Commission (“SEC”)(www. sec. gov)
Annual report including form 10
Quarterly Report on table 10
Q and Current Report on Table 8K.
These reports and amendments to these reports, provided electronically to or to the SEC, are provided free of charge as soon as reasonably practicable.
They can go through the www on the Kodak website. Kodak. com.
To get the SEC filing, click on the Kodak, Investor Center, financial information, and the link to the SEC filing. ITEM1A.
Risk factors related to our business the company has undergone a major restructuring of its business and adopted a new business plan, including a new branch reporting structure.
The restructured company and the new business plan take effect for a limited period of time and there is no guarantee that the company can successfully implement its business plan or successfully operate the business as a restructured company.
The investment focus of the company is commercial imaging and printing, especially commercial inkjet, packaging and functions (Micro 3D)
Business services and solutions.
These businesses require additional investment and may not succeed.
In order to develop these businesses, increase profit margins, achieve our financial goals, it is necessary to introduce successful innovative products and achieve scale at market competitive prices.
In addition, our strategy is based on factors and assumptions, some of which are outside our control, such as actions by third parties.
There is no guarantee that we can successfully implement all or any elements of our strategy, nor that our ability to successfully execute the strategy will not be affected by external factors.
If we fail to develop the company\'s investment business as planned or perceive the needs of our target customers, our financial performance may be adversely affected.
If Kodak is unable to successfully implement its strategic business plan, or encounters implementation delays in reducing the cost structure, the combined results of the company\'s operations, financial position and liquidity may be negatively affected.
We recognize the need to rationalize Kodak\'s workforce and rationalize operations as a more streamlined and focused organization aligned with emerging businesses and operations.
We have implemented cost rationalized plans including manufacturing, supply chain, marketing, sales and restructuring of administrative resources.
There is no guarantee that these measures will prove successful and that the results we have achieved through these plans will be in line with our expectations.
As a result, our operating results, financial position and liquidity may be negatively affected.
In addition, if the restructuring plan is not managed effectively, we may experience customer sales losses, product delays, additional costs and other unexpected effects, thereby damaging our business and customer relationships.
Some assumptions, predictions, and analysis are required for the business plan.
If these assumptions prove incorrect, we may not be able to execute our business plan or achieve the expected results, which may adversely affect our financial results and liquidity.
Finally, the timing and implementation of these plans requires compliance with many laws and regulations, including local labor laws, which may cause damage if they are not complied, fines and penalties that may adversely affect the Company\'s business.
Kodak\'s inability to effectively complete and manage partnerships and other major transactions can adversely affect our business performance, including financial performance.
As part of the company\'s strategy, we may discuss possible divestiture, asset sales, divestiture with third parties
Deals, investments, acquisitions, strategic alliances, joint ventures and outsourced transactions, and possible agreements relating to these transactions to advance our business objectives.
In order to successfully implement this strategy, we must identify the right buyers, sellers and partners and successfully complete the transaction, some of which may be large and complex and manage the post-period
End the problem such as canceling any remaining posts
Sales costs related to divestiture business.
For larger, more complex transactions, or when multiple transactions are conducted at the same time, the transaction risk may be more obvious.
If we fail to identify and successfully complete the transaction that promotes the company\'s strategic objectives, we may need to spend resources developing products and technologies internally, and we may be at a competitive disadvantage, or we may be adversely affected by negative market perceptions.
Any of these factors can have a negative impact on our income, gross margin and profitability.
In addition, the unpredictable nature of such trading hours may adversely affect our financial results.
We may seek acquisitions or mergers that may fail or cause unexpected problems for our business in the future, this will adversely affect our ability to achieve the expected benefits of these transactions, or increase the price we need to pay.
We may seek to make deals including acquisitions or mergers with other businesses.
We may not be able to identify suitable acquisition or merger opportunities or financing or successfully complete any particular acquisition or merger.
In addition, acquisitions and mergers involve many risks and challenges, including: the ability to obtain required regulatory and other approvals;
· Need to integrate acquisition or joint operations with our operations;
Potential losses to key employees;
Difficult to assess operating costs, infrastructure requirements, environmental and other liabilities and other factors beyond our control;
• Possible lack of operational experience in new geographic areas;
Increase our spending and working capital needs;
The management\'s attention may be temporarily diverted;
And the possibility that we may need to issue a large number of additional equity or debt securities or assume additional debt in connection with any such transaction.
Any of these factors may adversely affect our ability to achieve the expected cash flow level or to achieve synergies or other expected benefits of strategic transactions.
In addition, the trading market is highly competitive, which may adversely affect our ability to find deals that meet our strategic objectives or increase the prices we need to pay (
This may reduce the benefit of the transaction, or hinder our desire or ability to complete the transaction).
Strategic transactions can happen at any time, and they can be large relative to our assets and operations.
If the company is unable to successfully develop new products or commercialize new products, our business, financial position and operational results may be affected.
We usually sell our products in industries with rapid technological changes, frequent introduction of new products and services, and changing industry standards.
If new products, services and enhancements are not introduced in a timely manner, our products and services will be technically obsolete over time, in which case our revenue and operational results will
Therefore, our future business results will depend to a large extent on whether we can successfully commercialize new products in a timely manner.
The success of our new products and services will depend on several factors, including our ability to identify customer needs;
Innovation and Development of new technologies, services and applications;
Timely commercialize new technologies;
Produce and deliver sufficient quantity of products on time;
Distinguish our products from those of our competitors;
Competitive pricing of our products and services;
Predict the development of new products, services or technological innovations of competitors;
Work successfully with our partners, including UniPixel, Bobst and Kingsbury;
Control product quality in our manufacturing process.
Due to these and other factors, the products that Kodak is currently developing may or may not be commercialized successfully.
If any of our key products are not successful or commercialized in a timely manner, the results of our operations may be adversely affected.
In addition, even if we successfully commercialize these products, we cannot guarantee that any investment we make in developing our products will be recovered, which may have a significant adverse impact on our business, financial position and operating results.
We may not be able to successfully commercialize micro 3D printing technology, one of our target markets, which may have a significant adverse impact on our business, operational results and financial position.
We are commercializing micro 3D printing, one of our target markets.
In some or all areas where we seek to enter micro 3D printing, we may not be able to successfully develop and market products.
The development, production, marketing or administrative costs generated by these products may exceed the expected and operating cash flow.
Customers may favor other technologies or solutions, and our products may not be competitive in terms of cost, functionality or other features.
In addition, our competitors may have better technology that we can\'t get, and may have more money or other resources to support the development and marketing of their products.
We rely on our partners, such as UniPixel and Kingsbury, to acquire the technology and other expertise that are essential to our efforts to commercialize micro 3D printing products.
The problems that exist in these companies or in our relationship with them may adversely affect our technology commercialisation program.
The investment required to develop the product may exceed our expectations.
In the event of any or all of these risks, we may not be able to achieve the benefits associated with our investment in micro 3D printing, which may have a significant adverse impact on our business, operating performance and financial status.
If Kodak\'s commercial and manufacturing processes fail to prevent product reliability, yield and quality issues, our product launch plans may be delayed and our financial results may be adversely affected, our reputation could be damaged.
In developing, commercializing and manufacturing Kodak products and services, we must fully address reliability, yield and other quality issues, including defects in our engineering, design and manufacturing processes, and the third defect.
Party components included in our product.
Due to the complexity and complexity of Kodak\'s products, as the technology develops and commercializes rapidly, the appearance of defects may increase, especially with the introduction of new product series.
Unexpected issues with product performance may delay product release plans, which may result in additional costs, revenue, and loss of revenue.
Although we have established internal procedures to minimize the risks that may arise from product quality issues, we cannot guarantee that we can eliminate or mitigate the occurrence of these issues and related liability.
Product reliability, yield and quality issues may compromise our relationship with new or existing customers and adversely affect our brand image, product quality issues can lead to recalls, warranty our reputation as a producer of high quality products can be affected, which can adversely affect our business and financial results.
For us to continue to operate our business, our ability to generate positive cash flow is necessary.
While Kodak has significantly reduced the ratio of negative operating cash flow over the past two years, we continue to create net negative operating cash flow.
There is no guarantee that Kodak will generate positive cash flow from operations in the future, which may have a significant adverse impact on Kodak\'s liquidity and financial situation.
Continuous investment, capital needs, restructuring payments and repayment of corporate debt require significant amounts of cash, and we may not be able to generate the cash needed to finance these activities, this may adversely affect our business, operating results and financial position.
Kodak\'s business may not generate enough cash flow to enable us to pay the principal or interest on the debt and to fund Kodak\'s other liquidity needs, including working capital, capital expenditures, product development efforts, strategic acquisitions, investments and alliances, restructuring actions and other general company requirements.
Kodak\'s ability to generate cash is influenced by general economic, financial, competitive, litigation, regulatory and other factors that we cannot control.
We cannot assure you that Kodak\'s business will generate sufficient cash flow from operations;
Kodak will be able to remit or transfer cash back to where and when cash is needed;
Kodak will meet all conditions for borrowing or issuing a letter of credit under an asset-based revolving credit agreement (
\"ABL Credit Agreement \");
Kodak will achieve cost savings, revenue growth and operational improvements by executing our business and restructuring plans;
Kodak does not have to pay cash defense costs, regardless of the merits of any claim made;
Or, future sources of funding will be sufficient to meet our liquidity needs.
If we are unable to fund our liquidity needs, we will have to take action such as reducing or delaying capital expenditures, product development efforts, strategic acquisitions and investments and alliances;
Sale of additional assets;
Restructuring or refinancing of corporate debt;
Or seek additional share capital.
These behaviors may increase the company\'s debt, have a negative impact on the customer\'s ability to provide our products and services, reduce the company\'s ability to raise extra capital, and delay continuous profitability.
We cannot assure you that any of these actions, if necessary, can be carried out in accordance with commercially reasonable terms or at all, or they allow us to meet the company\'s regular debt obligations.
In addition, if we generate additional debt, the risks associated with the substantial leverage of the company, including the risk that we cannot repay the company\'s debt, generate sufficient cash flow to meet our liquidity needs, or maintaining compliance with the deed in our various credit mechanisms may intensify.
There is no guarantee that the company can comply with the terms of our various credit facilities.
Breach of any financial or other covenants contained in the credit agreement for the first lien clause of the senior guarantee (
\"First Lien Term Credit Agreement \")
Term credit agreement for the second lien of senior guarantee (
\"Second Lien Term Credit Agreement\" and the first lien term credit agreement (\"Term Credit Agreement \")
Or ABL Credit Agreement (
And the term \"Credit Agreement \")
Breach of contract may occur under these facilities.
In the event of any breach of contract, and we are unable to cure it, nor can we obtain an exemption from the necessary lenders under these facilities, the administrative agent for each credit facility may, at the request of the necessary lender of the loan, declare all outstanding debts of us under applicable credit financing, as well as Accrued interest and expenses, payable immediately due and payable, according to the ABL credit agreement, the agent may, at the request of the necessary lender, terminate the lender\'s commitment under that loan and stop further loans, and if applicable, each agent may initiate foreclosure proceedings against our pledged assets.
Any of these results may adversely affect our operations and our ability to meet our obligations.
Due to the nature of the products we sell and Kodak\'s global distribution, our currency exchange rate may change, interest rates and commodity costs that may adversely affect our operating results and financial conditions.
Due to Kodak\'s global operations and financing activities, we are faced with changes in currency exchange rates and interest rates, which may adversely affect our operational results and financial conditions.
The exchange rate and interest rate of the market where we do business are often unstable, and sometimes, depending on the value of the United States, our sales may be negatively affected in all sectors of the company. S.
Dollar, euro and other major currencies.
In addition, the company\'s products contain aluminum, silver, petroleum-based or other commodity-based raw materials whose prices have and may continue to fluctuate.
If the global economic situation is still uncertain or deteriorating, changes in currency exchange rates, interest rates and commodity prices may fluctuate further, which may have a negative impact on our income and income.
The weakness or deterioration of the global economic situation may adversely affect our financial performance and liquidity.
The global economic environment may adversely affect our product sales, profitability and liquidity.
Global financial markets have been fluctuating.
The economic situation may accelerate the decline in product demand, which may also put pressure on our operations and liquidity.
There is no guarantee that in markets that have experienced some economic strength, the expected level of economic growth will continue in the future, or that we will succeed in expanding sales in these markets.
In addition, due to the decline in customer payment capacity due to the recession, and the liquidity of the company, accounts receivable and expired accounts may increase, including our ability to use credit lines, it may be negatively affected by the failure of financial instrument counterparties, including banks and other financial institutions.
If the global economic weakness and tension in the credit market exist, deteriorate or weaken, the profitability of the company and the related cash generation capacity may be adversely affected, therefore, affect the Company\'s ability to meet the company\'s expected cash needs, damage the company\'s liquidity or increase the company\'s borrowing costs.
The competitive pressures we face can hurt Kodak\'s revenue, gross margin and market share.
The market in which we conduct our business is fiercely competitive with large, deep-rooted, well-funded industry players, many of whom are larger than us.
In addition, we have encountered fierce price competition in many products and services of many companies around the world.
Any of our competitors can predict the progress of the market more accurately than we do;
Sell quality products, provide quality services, and provide a wider range of products and services;
Ability to produce or provide similar products and services at a lower cost;
Have better supply channels and the ability to obtain supply at a lower cost;
Build stronger relationships with our suppliers or customers;
Or adapt to new technologies or changing customer needs more quickly than we do, or enter the capital market or other sources of financing on more favorable terms than we do.
Therefore, we may not be able to compete successfully with our competitors.
Finally, we may not be able to maintain operating costs or prices at a level that can compete effectively.
Kodak\'s performance and financial position may be adversely affected by these and other industries.
There is a lot of pricing pressure.
If our products, services and pricing are not competitive enough with current and future competitors, we may also lose market share and adversely affect our revenue and gross profit margin.
Unable to provide a competitive financing arrangement for Kodak\'s customers, nor to provide credit to customers with deteriorating reputation, which may adversely affect our income, profitability and financial position.
In the competitive environment in which we operate, in order to win the contract, we may need to facilitate or finance our customers.
Customer financing arrangements may cover all or part of the purchase price of the company\'s products and services.
We can also help clients get financing from banks and other channels.
Our success may depend to some extent on our ability to finance our customers in terms of competitive conditions and customer credibility.
The credit crunch in global financial markets may adversely affect Kodak customers\' ability to obtain significant purchase financing, which may lead to a reduction or cancellation of orders for our products and services.
If we are unable to provide our customers with a competitive financing solution, or if we provide credit to customers whose credit has deteriorated, our income, profitability and financial position may be adversely affected. If the U. K.
Kodak Pension Plan (
\"KPP Purchaser \")
The personalized imaging and document imaging business cannot be successfully operated (
\"PI/DI business \")
The company\'s brand, reputation and financial results may be affected from the company\'s acquisition or fulfillment of its commitments under supply, service and transition services and other agreements with the company.
Eastman Kodak, Qualex revised and restated stock and asset purchase agreements, Kodak (Near East), Inc.
KPP Trustee Limited is the trustee of the Kodak pension scheme in the United Kingdom for the purposes of section 11 only.
KPP Holdings Limited, August 30, 2013 (“Amended SAPA”)
Certain related agreements allow KPP purchasers to use Kodak names and brands when operating the PI/DI businessforward basis.
If the KPP purchaser is unsuccessful in the operation of the PI/DI business, the brand image and reputation of the company as a producer of high-quality products may be compromised, which may affect our financial results or operations.
In addition, with respect to the closing price under the revised SAPA, on the effective date, the Company entered into certain supply and transitional service agreements with the KPP purchaser, pursuant to which, the KPP purchaser will purchase supply and services from the company.
Under the supply, service and transitional services agreement, the KPP purchaser is unable to pay the due amount, which may have a negative impact on our financial results.
In addition, with respect to a certain jurisdiction under the 2015 Revision of SAPA, which is expected to carry out an extended closure, certain factors may delay the closure on the expected date, which may have a cost or operational impact on Kodak.
If we can\'t attract, retain and motivate key management and other key employees, Kodak\'s revenue and earnings can be compromised.
To succeed, we must continue to attract, retain and motivate executives and other key employees, including technical, management, marketing, sales, research and support positions.
Recruiting and retaining qualified executives, research and engineering professionals and qualified sales reps, especially in Kodak\'s target growth market, is critical for our future.
We may not be able to attract and retain highly qualified managers and staff, especially if we do not offer employment conditions that compete with the rest of the market.
Failure to attract and retain qualified individuals, key leaders, executives and employees, or failure to develop and implement a viable succession plan may result in insufficient depth of institutional knowledge or skills, this may adversely affect our business.
If we cannot effectively predict technology trends, develop and sell new products in response to changing customer preferences, our revenues, revenues and cash flows may be adversely affected.
We are a technology company that provides imaging services for commercial markets including packaging, Micro 3D printing, graphic communication and enterprise services.
Our success in these markets depends on our ability to deliver differentiated solutions to gain market share and scale up.
In order to achieve this goal, we must develop and introduce new products and services in a timely manner to keep up with the pace of technological development and gain recognition from our customers.
In addition, with the development of the customer\'s business model, the services and products we provide to our customers may not or may no longer meet their needs.
Our customers may decide to outsource their imaging needs or may purchase imaging services and requirements from other suppliers.
In addition, it is difficult for us to successfully predict the products and services that our customers need.
The success of our business depends to a certain extent on our ability to identify and respond quickly to changes in customer preferences, expectations and requirements.
If we are unable to assess and respond to changing customer expectations, preferences and needs in a timely manner, our financial position, operating results or cash flows may be adversely affected.
We must also communicate effectively with our customers, investors and other key stakeholders about our new business model and successfully position our products for the markets we serve.
If we can\'t predict new technology trends, improve the company\'s current technology to respond to changing customer preferences and effectively communicate the market for our business, products and our services, our income, income and cash flow can be adversely affected.
We have outsourced a large part of Kodak\'s global manufacturing, logistics and back office operations and are at risk of relying on third-party suppliers.
We have outsourced a large part of our global manufacturing, logistics, customer support and management operations to third parties.
In terms of our reliance on third-party service providers, we are at risk that these third parties may not be able to: develop manufacturing methods suitable for the company\'s products;
Maintain a good control environment;
Respond quickly to changes in customer demand for the company\'s products;
Obtain the supplies and materials needed for the manufacturing process;
Or mitigate the impact of labor shortages and/or disruptions.
In addition, even if Kodak fulfills its payment and other obligations to the main suppliers of products, components and services, these suppliers may choose to unilaterally withhold products, components or services, or change in terms of payment.
In addition, due to unexpected demand, transport and logistics constraints, we may encounter supply shortages and service disruptions, and/or disruption or production difficulties from our suppliers, such as interruptions caused by fires, other natural disasters or events beyond the control of suppliers.
In addition, due to the financial difficulties of our suppliers themselves, or the decrease in the products provided by these suppliers, disruption may lead to a decrease in the number of our suppliers.
Due to the loss of any supplier, or a substantial reduction in the supply of our supplier\'s products, we may not be able to fulfill our customer commitments and our costs may be higher than planned, our cash flow and the reliability of our company\'s products may be negatively affected.
In this case, Kodak will vigorously enforce its contractual rights, but we cannot guarantee success in preventing or mitigating the impact of unilateral actions by suppliers.
Other supplier problems we may face include shortage of electronic components, oversupply, the term of the Assembly and material contract with Kodak with the supplier and the risk associated with termination, and the risks associated with the favorable conditions or fundamentals of relying on a single source supplier.
If alternative third-party relationships are not established, the realization of these risks may result in supply disruption or increased costs, which may result in Kodak being unable to meet the customer\'s demand for our products, damaged our relationship with Kodak customers and reduced market share, all of which may adversely affect our operating results and financial situation.
Business disruption can seriously damage our future income and financial situation and increase our costs and expenses.
Our global business can be affected by earthquakes, power shortages, telecom failures, network failures
Attacks, terrorism, water scarcity, tsunamis, floods, hurricanes, typhoons, fires, extreme weather conditions, medical epidemics, political or economic instability, and other natural or man-made disasters or business disruptions, we are mainly for ourselves. insured.
The occurrence of any of these business disruptions can seriously damage our income and financial situation and increase our costs and expenses.
In addition, some areas, including parts of the East Coast and West Coast of the United States, have previously experienced and may experience severe power shortages and power outages in the future.
These outages may result in disruption to our operations or operations of our suppliers, distributors and distributors or customers.
We have R & D facilities in different locations in Israel, Japan, China and Canada.
These risks have a greater impact on areas where products are produced in a single or limited number of locations (s)
If the procurement of materials is limited to the sole or limited basis of the supplier, as any major operational disruption at these locations or suppliers may affect our ability to provide a particular product or service for a period of time.
These events can seriously damage our income and financial situation and increase our costs and expenses.
If we cannot protect the intellectual property rights on which the company\'s business depends, or if a third party claims that we have violated their intellectual property rights, revenues, fees and liquidity may be adversely affected.
One of Kodak\'s key advantages in many of our businesses is the technical advantages of our products and solutions relative to our competitors.
Kodak\'s intellectual property rights support our technological advantages.
Patents, copyrights, trademarks and trade secrets laws in the United States and similar laws in other countries, as well as non-
Disclosure, secrecy and other types of agreements with Kodak employees, customers, suppliers and other parties may be invalid in establishing, maintaining and executing Kodak intellectual property rights.
Any direct or indirect intellectual property rights of Kodak may be challenged, invalidated, circumvented, infringed or embezzled, or, such intellectual property rights may not be sufficient for us to take advantage of current market trends or otherwise provide competitive advantage, which may result in costly product redesign work and stop certain products or other competitive injuries.
Moreover, laws in some countries do not protect ownership as they do in the United States.
Therefore, in some jurisdictions, we may not be able to adequately protect Kodak\'s proprietary technology from unauthorized third-party copying, infringement or use, which may adversely affect our competitive position.
In addition, due to the rapid technological change in the information technology industry, most of Kodak\'s business and many of Kodak\'s products rely on key technologies developed or approved by third parties, we may not be able to obtain or continue to obtain licenses and technologies from these third parties at all or on reasonable terms.
We have invested heavily in new proprietary technologies and filed patent applications and obtained patents to protect Kodak\'s intellectual property rights in these technologies and the interests of Kodak\'s licensee.
There is no guarantee that Kodak\'s patent application will be approved, that any patents issued will fully protect Kodak\'s intellectual property rights, and that these patents will not be challenged by third parties.
In addition, third parties may claim that Kodak\'s customers, licensees or other parties we compensate for have violated their intellectual property rights.
Competitors seeking to block or restrict our access to certain markets may make such claims.
In addition, in recent years, individuals and groups have begun to purchase intellectual property assets with the sole purpose of filing claims for infringement and trying to secure settlements from large companies like ours.
Even if we believe that these claims are unreasonable, they may have the following negative effects on our business: claims may take time and cost defense and may distract management from their attention and resources;
Claims for intellectual property infringement may require us to redesign the affected products, enter into expensive settlements or agreements, or pay expensive damages, or face a temporary or permanent ban that prohibits us from selling or selling certain products;
Even if we agree to compensate us for such costs, it may not be possible for the indemnity party to meet its contractual obligations;
If we simply cannot or do not license the infringing technology, license the technology in a reasonable terms, or substitute similar technology from another source, our income and income may be adversely affected
Finally, we use open source software in terms of products and services.
Companies that incorporate open source software into their products from time to time face claims that challenge the ownership of open source software and/or comply with the terms of the open source license.
Therefore, the company may be subject to litigation by parties claiming ownership of what we consider to be open source software or not complying with the terms of the open source license.
Some open source software licenses require users who distribute open source software as part of the software to disclose all or part of the source code to such software and/or provide adverse terms or free open source code;
Any requirement to disclose the company\'s source code or to pay damages for breach of contract may damage our operating results and financial position.
13 future pension and other post-retirement benefit plan costs and required contribution levels for kodak may be adversely affected by changes in actuarial assumptions, market performance of planned assets and obligations under legislation or pension authorities may adversely affect our financial position, operating results and cash flow.
Kodak has significant fixed benefits and other post-retirement benefits obligations.
Our funding situation in the United StatesS. and non U. S.
Pension Plan (
And other retirement benefits programs)
And the related costs reflected in our financial statements are affected by various factors, which are affected by the degree of inherent uncertainty.
Key assumptions used to assess these welfare obligations, funding status and expense recognition include discount rates for future payment obligations, long-term expected return on planned assets, wage growth, medical expense trends, mortality trends, and other economies and demographic factors.
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