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Note 2 - Cash, Cash Equivalents and Restricted Cash - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 168	$ 201
Restricted cash reported in Other current assets	8	8
Restricted cash	95	92
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$ 271	$ 301	$ 322	$ 377

Note 7 - Commitments and Contingencies	9 Months Ended
Sep. 30, 2025
Commitments and Contingencies [Abstract]
Commitments and Contingencies	NOTE 7: COMMITMENTS AND CONTINGENCIES As of September 30, 2025, the Company had outstanding letters of credit of $24 million issued under the Amended and Restated L/C Facility Agreement as well as bank guarantees and letters of credit of $2 million, surety bonds in the amount of $47 million, and restricted cash of $103 million, primarily related to cash collateral supporting the Company’s undiscounted actuarial workers’ compensation obligations with the NYS WCB, cash collateral to ensure payment of possible casualty and workers’ compensation claims, cash collateral supporting the outstanding letters of credit under the Amended and Restated L/C Facility Agreement, to ensure payment of possible legal contingencies, hedging activities, environmental liabilities, rental payments and to support various customs, tax and trade activities. The restricted cash is recorded in Current assets and Restricted cash in the Consolidated Statement of Financial Position. Kodak’s Brazilian operations are involved in various litigation matters in Brazil and have received or been the subject of numerous governmental assessments related to indirect and other taxes in various stages of litigation, as well as civil litigation and disputes associated with former employees and contract labor. The tax matters, which comprise the majority of the litigation matters, are primarily related to federal and state value-added taxes and income taxes. Kodak’s Brazilian operations are disputing these matters and intend to vigorously defend its position. Kodak routinely assesses all these matters as to the probability of ultimately incurring a liability in its Brazilian operations and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable. As of September 30, 2025, Kodak’s Brazilian operations maintained accruals of approximately $5 million for claims aggregating approximately $93 million inclusive of interest and penalties where appropriate. The unreserved portion of the indirect taxes, civil litigation and disputes involving former employees and contract labor claims, inclusive of any related interest and penalties, for which there was at least a reasonable possibility that a loss may be incurred, amounted to approximately $6 million. In connection with assessments in Brazil, local regulations may require Kodak’s Brazilian operations to post security for a portion of the amounts in dispute. As of September 30, 2025, Kodak’s Brazilian operations have posted security composed of $7 million of pledged cash reported within Restricted cash in the Consolidated Statement of Financial Position and liens on certain Brazilian assets with a net book value of approximately $39 million. Generally, any encumbrances on the Brazilian assets would be removed to the extent the matter is resolved in favor of Kodak’s Brazilian operations. The matter securing the lien on the non-cash assets was resolved in favor of Kodak’s Brazilian operations on March 12, 2024. On September 29, 2025, the Notary Register Office confirmed the cancellation of the lien on Brazilian non-cash assets. Recognition of the enrollment by the IRS is in process and Kodak expects the process to be completed within the next several months. In addition, Kodak is involved in various lawsuits, claims, investigations, remediations and proceedings, including, from time to time, commercial, customs, employment, environmental, tort and health and safety matters, which are being handled and defended in the ordinary course of business. Kodak is also subject, from time to time, to various assertions, claims, proceedings and requests for indemnification concerning intellectual property, including patent infringement suits involving technologies that are incorporated in a broad spectrum of Kodak’s products such as the on-going patent infringement claims brought by FUJIFILM Corporation against Eastman Kodak Company (in the US) and its German subsidiaries (in Germany) alleging that certain of Kodak’s SONORA process free plates infringe four of its patents in each jurisdiction. These matters are in various stages of investigation and litigation and are being vigorously defended. Based on information currently available, Kodak does not believe that it is probable that the outcomes in these various matters, individually or collectively, will have a material adverse effect on its financial condition or results of operations. Litigation is inherently unpredictable, and judgments could be rendered or settlements entered that could adversely affect Kodak’s operating results or cash flows in a particular period. Kodak routinely assesses all of its litigation and threatened litigation as to the probability of ultimately incurring a liability and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable.

Note 7 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies [Abstract]

Commitments and Contingencies

NOTE 7: COMMITMENTS AND CONTINGENCIES

As of September 30, 2025, the Company had outstanding letters of credit of $24 million issued under the Amended and Restated L/C Facility Agreement as well as bank guarantees and letters of credit of $2 million, surety bonds in the amount of $47 million, and restricted cash of $103 million, primarily related to cash collateral supporting the Company’s undiscounted actuarial workers’ compensation obligations with the NYS WCB, cash collateral to ensure payment of possible casualty and workers’ compensation claims, cash collateral supporting the outstanding letters of credit under the Amended and Restated L/C Facility Agreement, to ensure payment of possible legal contingencies, hedging activities, environmental liabilities, rental payments and to support various customs, tax and trade activities. The restricted cash is recorded in Current assets and Restricted cash in the Consolidated Statement of Financial Position.

Kodak’s Brazilian operations are involved in various litigation matters in Brazil and have received or been the subject of numerous governmental assessments related to indirect and other taxes in various stages of litigation, as well as civil litigation and disputes associated with former employees and contract labor. The tax matters, which comprise the majority of the litigation matters, are primarily related to federal and state value-added taxes and income taxes. Kodak’s Brazilian operations are disputing these matters and intend to vigorously defend its position. Kodak routinely assesses all these matters as to the probability of ultimately incurring a liability in its Brazilian operations and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable. As of September 30, 2025, Kodak’s Brazilian operations maintained accruals of approximately $5 million for claims aggregating approximately $93 million inclusive of interest and penalties where appropriate. The unreserved portion of the indirect taxes, civil litigation and disputes involving former employees and contract labor claims, inclusive of any related interest and penalties, for which there was at least a reasonable possibility that a loss may be incurred, amounted to approximately $6 million.

In connection with assessments in Brazil, local regulations may require Kodak’s Brazilian operations to post security for a portion of the amounts in dispute. As of September 30, 2025, Kodak’s Brazilian operations have posted security composed of $7 million of pledged cash reported within Restricted cash in the Consolidated Statement of Financial Position and liens on certain Brazilian assets with a net book value of approximately $39 million. Generally, any encumbrances on the Brazilian assets would be removed to the extent the matter is resolved in favor of Kodak’s Brazilian operations. The matter securing the lien on the non-cash assets was resolved in favor of Kodak’s Brazilian operations on March 12, 2024. On September 29, 2025, the Notary Register Office confirmed the cancellation of the lien on Brazilian non-cash assets. Recognition of the enrollment by the IRS is in process and Kodak expects the process to be completed within the next several months.

In addition, Kodak is involved in various lawsuits, claims, investigations, remediations and proceedings, including, from time to time, commercial, customs, employment, environmental, tort and health and safety matters, which are being handled and defended in the ordinary course of business. Kodak is also subject, from time to time, to various assertions, claims, proceedings and requests for indemnification concerning intellectual property, including patent infringement suits involving technologies that are incorporated in a broad spectrum of Kodak’s products such as the on-going patent infringement claims brought by FUJIFILM Corporation against Eastman Kodak Company (in the US) and its German subsidiaries (in Germany) alleging that certain of Kodak’s SONORA process free plates infringe four of its patents in each jurisdiction. These matters are in various stages of investigation and litigation and are being vigorously defended. Based on information currently available, Kodak does not believe that it is probable that the outcomes in these various matters, individually or collectively, will have a material adverse effect on its financial condition or results of operations. Litigation is inherently unpredictable, and judgments could be rendered or settlements entered that could adversely affect Kodak’s

operating results or cash flows in a particular period. Kodak routinely assesses all of its litigation and threatened litigation as to the probability of ultimately incurring a liability and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable.

Consolidated Statement of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Revenues	$ 269	$ 261	$ 779	$ 777
Cost of revenues
Total cost of revenues	201	216	614	625
Gross profit	68	45	165	152
Selling, general and administrative expenses	41	44	127	136
Research and development costs	7	8	25	25
Restructuring costs and other	1	1	12	6
Other operating income, net				(16)
Earnings (loss) from operations before interest expense, pension income excluding service cost component, other charges (income), net and income taxes	19	(8)	1	1
Interest expense	18	14	47	44
Pension income excluding service cost component	(16)	(42)	(54)	(124)
Other charges (income), net	1	(1)	21	(2)
Earnings (loss) from operations before income taxes	16	21	(13)	83
Provision for income taxes	3	3	7	7
NET EARNINGS (LOSS)	$ 13	$ 18	$ (20)	$ 76
Basic net (loss) earnings per share attributable to Eastman Kodak Company common shareholders	$ (0.08)	$ 0.16	$ (0.55)	$ 0.73
Diluted net (loss) earnings per share attributable to Eastman Kodak Company common shareholders	$ (0.08)	$ 0.15	$ (0.55)	$ 0.67
Number of common shares used in basic and diluted net (loss) earnings per share
Basic	89.8	80.3	83.8	80.0
Diluted	89.8	92.7	83.8	92.1
Product [Member]
Revenues	$ 229	$ 221	$ 665	$ 654
Cost of revenues
Total cost of revenues	174	185	532	534
Service [Member]
Revenues	40	40	114	123
Cost of revenues
Total cost of revenues	$ 27	$ 31	$ 82	$ 91

Note 19 - Subsequent Event - (Details Textual) $ in Millions				9 Months Ended
	May 16, 2026	Nov. 04, 2025 USD ($)	Oct. 21, 2025 USD ($) ParticipantsAndBeneficiaries	Sep. 30, 2025 USD ($)	Nov. 30, 2025 USD ($)	Oct. 31, 2025 USD ($)	Oct. 01, 2025 USD ($)
KRIP [Member]
Subsequent Event [Line Items]
Pension obligations settled				$ 2,100
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from Issuance of Debt		$ 200
Subsequent Event [Member] \| KRIP [Member]
Subsequent Event [Line Items]
Number of participants and beneficiaries \| ParticipantsAndBeneficiaries			27,000
Pension obligations settled			$ 1,800
Subsequent Event [Member] \| KRIP [Member] \| Deferred Vested Participants [Member]
Subsequent Event [Line Items]
Pension liabilities							$ 76
Subsequent Event [Member] \| KRIP [Member] \| Active Participants [Member]
Subsequent Event [Line Items]
Pension liabilities						$ 157
Subsequent Event [Member] \| KRIP [Member] \| Missing Participants [Member]
Subsequent Event [Line Items]
Pension liabilities					$ 15
Subsequent Event [Member] \| November 2025 Term Loan Credit Agreement Amendment [Member]
Subsequent Event [Line Items]
Debt instrument prepayment percentage		50.00%
Debt instrument prepayment fee	4.00%

Note 6 - Leases (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Note 6 - Leases (Details Textual) - USD ($) $ in Millions	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Lessee, Lease, Description [Line Items]
Sales-type Lease, Lease Income	$ 1		$ 2	$ 1
Maximum [Member]
Lessee, Lease, Description [Line Items]
Sales-type Lease, Lease Income		$ 1

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
NET EARNINGS (LOSS)	$ 13	$ 18	$ (20)	$ 76
Other comprehensive (loss) income, net of tax:
Currency translation adjustments	(2)	12	11
Pension and other postretirement benefit plan obligation activity, net of tax	98	(7)	10	(20)
Other comprehensive income (loss), net of tax	96	5	21	(20)
COMPREHENSIVE INCOME, NET OF TAX	$ 109	$ 23	$ 1	$ 56

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

Reference 49: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Note 10 - Other Operating Income, Net - Summary of Other Operating Income, by Component (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Mar. 31, 2024

Sep. 30, 2024

Other Income and Expenses [Abstract]

Gain on sale of assets

$ (17)

^[1]

Other

Total

$ (16)

[1]	In the first quarter of 2024, Kodak sold certain assets in the U.S. and recognized a gain of $17 million.

Note 19 - Subsequent Event

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

Subsequent Event

NOTE 19: SUBSEQUENT EVENTS

KRIP Termination:

On October 21, 2025, the annuity obligations with respect to all KRIP annuitants (approximately 27,000 participants and beneficiaries) representing approximately $1.8 billion of pension obligation was transferred to Metropolitan Tower Life Insurance Company through the purchase of a group annuity contract, the premium for which was funded directly and solely by the assets of KRIP. In addition, on October 1, 2025, KRIP settled approximately $76 million of pension obligations through lump-sum payments to deferred vested participants and on October 31, 2025, KRIP settled approximately $157 million of pension obligations through lump-sum payments to active participants. KRIP will transfer the remaining liabilities of approximately $15 million for missing participants and the appropriate level of assets to the PBGC missing program by the end of November 2025. Accordingly, as of the date of filing of this Form 10-Q, substantially all of the pension obligations under KRIP have been fully settled and the excess pension assets will be distributed to the Company and the Kodak Cash Balance Plan. This distribution is currently expected to take place in December 2025.

Term Loan Credit Agreement Amendment:

On November 4, 2025, the Company and the Subsidiary Guarantors entered into the Third Amendment to the Amended and Restated Credit Agreement (the “November 2025 Term Loan Credit Agreement Amendment”) with the Term Loan Lenders and the Term Loan Agent. The November 2025 Term Loan Credit Agreement Amendment (i) modified the maturity date of the Term Loans to be August 15, 2028, (ii) eliminated the mandatory prepayment obligation requiring Kodak to use 50% of the net cash proceeds from certain transactions to prepay Term Loans below $200 million, (iii) provided the Company the option to prepay the Term Loans after May 15, 2026 with cash proceeds from certain transactions plus a 4% prepayment fee, (iv) removed limitations on restricted payments on the repurchase or redemption of the Series B Preferred Stock subject to certain restrictions and (v) removed the requirement to include reversion proceeds not used to prepay Term Loans in the calculation of Excess Cash Flow as defined in the Amended and Restated Term Loan Credit Agreement.

Letter of Credit Facility Agreement:

On November 4, 2025, the Company and the Subsidiary Guarantors entered into Amendment No. 4 to the Letter of Credit Facility Agreement (the “November 2025 L/C Facility Amendment”) with the L/C Lenders and Bank of America, N.A. The November 2025 L/C Facility Amendment (i) modified the maturity date of the facility to be May 17, 2028, the date that is 90 days prior to the maturity date of the Term Loans and (ii) removed limitations on restricted payments on the repurchase or redemption of the Series B Preferred Stock subject to certain restrictions.

Note 11 - Other Charges (Income), Net - Schedule of Other Charges (Income), Net (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2025

Jun. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Other Income and Expenses [Abstract]

Interest income

$ (4)

$ (2)

$ (7)

$ (9)

Loss on foreign exchange transactions

Asset Impairment

^[1]

$ 17

^[1]

Other

(2)

Total

$ 1

$ (1)

$ 21

$ (2)

[1]

During the second quarter of 2025, Kodak recorded an impairment charge of $17 million related to its investment in Wildcat Discovery Technologies, Inc. (“Wildcat”) due to the strategic options and alternatives being contemplated by Wildcat as a result of the current economic environment. The fair value of Kodak’s investment in Wildcat was estimated using a probability weighted assessment of the various options being considered under a combination of market and income approaches (Level 3). With respect to an observable transaction for a similar investment that occurred in October 2025, Kodak recorded an additional impairment charge of $4 million related to its investment in Wildcat during the third quarter of 2025. The fair value of Kodak's investment in Wildcat was estimated using a market approach (Level 3). The carrying value of Kodak’s investment in Wildcat as of September 30, 2025 approximated $4 million.

Note 13 - Retirement Plans and Other Postretirement Benefits - Components of the Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Settlement gain

$ (1)

Pension and postretirement income

$ (42)

$ (111)

UNITED STATES

Pension and postretirement income

(14)

$ (38)

(42)

(113)

Foreign Plan [Member]

Pension and postretirement income

Pension Plan [Member] | UNITED STATES

Service cost

Interest cost

Expected return on plan assets

(42)

(62)

(128)

(187)

Prior service cost

Actuarial (gain) loss

(9)

(7)

(28)

Net pension (income) expense before special termination benefits and settlements

(16)

(38)

(49)

(114)

Special termination benefits (1)

^[1]

Settlement gain

^[2]

(1)

Pension and postretirement income

(17)

(38)

(48)

(113)

Other plans

Pension Plan [Member] | Foreign Plan [Member]

Service cost

Interest cost

Expected return on plan assets

$ (4)

(5)

(14)

Actuarial (gain) loss

$ 1

Net pension (income) expense before special termination benefits and settlements

Pension and postretirement income

$ 1

Other Postretirement Benefits Plan [Member] | Foreign Plan [Member]

Pension and postretirement income

$ 1

[1]	The special termination benefits were incurred as a result of Kodak’s restructuring actions and have been included in Restructuring costs and other in the Consolidated Statement of Operations for that period.
[2]	The settlement gain was the result of lump sum payments from KRIP and the transfer to the insurer of all obligations and responsibilities associated with an existing annuitized obligation.

Note 10 - Other Operating Income, Net (Tables)

9 Months Ended

Sep. 30, 2025

Other Income and Expenses [Abstract]

Summary of Other Operating Income, by Component


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2025		2024		2025		2024
Gain on sale of assets (1)	$	—	$	—	$	—	$	(17	)
Other		—		—		—		1
Total	$	—	$	—	$	—	$	(16	)

(1) In the first quarter of 2024, Kodak sold certain assets in the U.S. and recognized a gain of $17 million.

Note 9 - Revenue 1 (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Contract with Customer, Liability	$ 98		$ 98		$ 92
Contract with Customer, Liability, Revenue Recognized	9	$ 9	26	$ 29
Contract with Customer, Cash Payments Received for Liabilities That Have Been Deferred	21	$ 17	32	$ 24
Revenue, Remaining Performance Obligation, Amount	86		86
Other Current Assets [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Current	5		5		5
Other Current Liabilities [Member]
Contract with Customer, Liability	45		45		35
Other Noncurrent Liabilities [Member]
Contract with Customer, Liability	$ 53		$ 53		$ 57

Note 18 - Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Derivatives Not Designated as Hedging Instruments

The net effect of foreign currency forward contracts in the results of operations is shown in the following table:


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in millions)	2025		2024			2025			2024
Net loss (gain) from derivatives not designated as hedging instruments	$	2	$	(6	)	$	(3	)	$	4

Note 1 - Basis of Presentation and Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2025

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

NOTE 1: BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS

BASIS OF PRESENTATION

The consolidated interim financial statements are unaudited, and certain information and footnote disclosures related thereto normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, the accompanying unaudited consolidated interim financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the results of operations, financial position and cash flows of Eastman Kodak Company and all companies directly or indirectly controlled, either through majority ownership or otherwise (“Kodak” or the “Company”). The results of operations for the interim periods are not necessarily indicative of the results for the entire fiscal year. These consolidated interim statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”).

RECLASSIFICATIONS

Certain amounts from previous periods have been reclassified to conform to the current period classification of paid-in-kind interest expense in the Consolidated Statement of Cash Flows.

GOING CONCERN

As disclosed in the Company’s quarterly report on Form 10‐Q for the quarter ended June 30, 2025, Kodak had debt coming due within twelve months and its plans to adequately fund its debt obligations at that time were not solely within the Company’s control and therefore were not deemed “probable” under U.S. GAAP.

As of the date of issuance of these consolidated interim financial statements, the Company has extended the maturity dates of the Term Loans (defined below) and the L/C Facility Agreement (defined below). In addition, as of the date of issuance of these consolidated interim financial statements, Kodak has settled approximately $2.1 billion of pension obligations under the Kodak Retirement Income Plan (“KRIP”) and will transfer the remaining liabilities of approximately $15 million for missing participants to the Pension Benefit Guaranty Corporation (“PBGC”) by the end of November 2025. Upon completing the transfer of these remaining liabilities to the PBGC, all pension obligations under KRIP will be fully settled and the excess pension assets will be distributed to the Company and the Kodak Cash Balance Plan, given the authority of the Plan Sponsor (Kodak) to distribute such assets. Refer to Note 19, “Subsequent Events” for additional information on the amendments for the Term Loans and L/C Facility Agreement as well as the settlement of KRIP’s pension obligations.

Based on the actions completed by management, the Company will receive sufficient proceeds from the reversion of cash from KRIP to the Company in December 2025 to adequately fund the Company’s debt obligations required to be paid from such proceeds or otherwise maturing within twelve months as of the filing of this Form 10-Q. Therefore, the prior conditions that raised substantial doubt about Kodak’s ability to continue as a going concern, as disclosed in the Form 10-Q for the quarter ended June 30, 2025, have been resolved.

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

No accounting pronouncements were recently adopted by Kodak.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires disclosure of additional categories of information about federal, state and foreign income taxes in the rate reconciliation table and more details about the reconciling items in some categories if items meet a quantitative threshold. The ASU requires entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. The ASU is required to be applied prospectively, with the option to apply it retrospectively. The ASU is effective for Kodak for the fiscal year ending December 31, 2025, and the required disclosures will be included in Kodak's Form 10-K for the year ending December 31, 2025. As

the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires public business entities to disclose specified information about certain costs and expenses, including but not limited to purchases of inventory, employee compensation, depreciation, and intangible asset amortization, in a tabular format within the notes to their financial statements, as well as provide additional disclosures related to certain other specified expenses. The ASU may be applied on either a prospective or retrospective basis and is effective for annual reporting periods beginning after December 15, 2026 (January 1, 2027 for Kodak) and interim reporting periods beginning after December 15, 2027 (January 1, 2028 for Kodak). As the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting for internal-use software to reflect the evolution of software development to using an incremental and iterative development method. Accordingly, the ASU removes all references in Subtopic 350-40 to prescriptive and sequential software development phases (or “project stages”), and requires an entity to start capitalizing software costs when both (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. The ASU may be applied using either a prospective, retrospective, or modified transition approach, and is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within such annual reporting periods (January 1, 2028 for Kodak). The Company is currently evaluating the impact of this ASU.

Note 6 - Leases (Tables)

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Summary of Income Recognized on Lease Arrangements


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2025		2024		2025		2024
Lease income - operating leases:
Lease income	$	2	$	3	$	7	$	7
Variable lease income		1		1		4		4
Total lease income	$	3	$	4	$	11	$	11

Note 10: Other Operating Income, Net

9 Months Ended

Sep. 30, 2025

Other Income and Expenses [Abstract]

Other Operating Income, Net

NOTE 10: OTHER OPERATING INCOME, NET


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2025		2024		2025		2024
Gain on sale of assets (1)	$	—	$	—	$	—	$	(17	)
Other		—		—		—		1
Total	$	—	$	—	$	—	$	(16	)

(1) In the first quarter of 2024, Kodak sold certain assets in the U.S. and recognized a gain of $17 million.

Note 8 - Guarantees

9 Months Ended

Sep. 30, 2025

Guarantees [Abstract]

Guarantees

NOTE 8: GUARANTEES

In accordance with the terms of a settlement agreement concerning certain of the Company’s historical environmental liabilities at Eastman Business Park, a more than 1,200-acre technology center and industrial complex in Rochester, New York, in the event the historical liabilities exceed $99 million, the Company will become liable for 50% of the portion above $99 million with no limitation to the maximum potential future payments. There is no liability recorded for this guarantee.

Extended Warranty Arrangements

Kodak offers its customers extended warranty arrangements that are generally one year but may range from three months to six years after the original warranty period. The change in Kodak’s deferred revenue balance in relation to these extended warranty and maintenance arrangements from December 31, 2024 to September 30, 2025, which is reflected in Other current liabilities in the accompanying Consolidated Statement of Financial Position, was as follows:


(in millions)
Deferred revenue on extended warranties as of December 31, 2024	$	12
New extended warranty and maintenance arrangements deferred		42
Recognition of extended warranty and maintenance arrangement revenue		(40	)
Deferred revenue on extended warranties as of September 30, 2025	$	14

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(2)
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-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/460/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

+ Details

Note 8 - Guarantees (Details Textual) $ in Millions	9 Months Ended
Note 8 - Guarantees (Details Textual) $ in Millions	Sep. 30, 2025 USD ($) a
Warranty Arrangement Period [Member]
Extended Warranty Period (Year)	1 year
Minimum [Member]
Environmental Settlement, Historical Liabilities Trigger Amount \| $	$ 99
Extended Warranty Period (Year)	3 months
Maximum [Member]
Percentage of Liability Above 99 Million	50.00%
Extended Warranty Period (Year)	6 years
Eastman Business Park Rochester N Y [Member] \| Minimum [Member]
Area of Real Estate Property (Acre) \| a	1,200

Note 5 - Redeemable, Convertible Preferred Stock - Schedule of Redeemable, Convertible Preferred Stock (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Redeemable, convertible preferred stock	$ 99	$ 218
Series B Preferred Stock [Member]
Redeemable, convertible preferred stock	99	98
Series C Preferred Stock [Member]
Redeemable, convertible preferred stock	$ 0	$ 120

- Definition

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 30
-Name Accounting Standards Codification
-Section S55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479772/718-30-S55-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
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-Name Accounting Standards Codification
-Section S45
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-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (01)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480244/480-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.E.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479830/718-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

+ Details

Note 15 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	May 21, 2025	Sep. 30, 2025	Aug. 08, 2025	Dec. 31, 2024	Feb. 26, 2021
Stock Authorized (in shares)		560,000,000
Common Stock, Shares Authorized (in shares)		500,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01		$ 0.01
Sale of common stock value		$ 1
Preferred Stock, Shares Authorized (in shares)		60,000,000
Preferred Stock, No Par Value (in dollars per share)		$ 0
Common Stock, Shares, Outstanding (in shares)		96,400,000		80,500,000
Treasury Stock, Common, Shares (in shares)		1,500,000		1,300,000
Sale of stock, number of shares issued		200,000
Sale of stock, consideration received		$ 1
At-The-Market Equity Offering Program [Member]
Sale of common stock value	$ 100
Sale of stock price per share	$ 0.01
BofA [Member] \| At-The-Market Equity Offering Program [Member] \| Maximum [Member]
sale of common stock, percentage of commission	3.00%
Common Stock [Member]
Common stock issued upon conversion of prefered stock			15,103,163
Series C preferred stock exchange for common stock, share		1,000,000
Series B Preferred Stock [Member]
Preferred Stock, No Par Value (in dollars per share)					$ 0
Preferred Stock, Shares Outstanding (in shares)		1,000,000		1,000,000
Series C Preferred Stock [Member]
Preferred Stock, Shares Outstanding (in shares)				1,200,000

Note 17 - Segment Information - Long Lived Assets by Geographical Areas (Details) - USD ($)
$ in Millions

Sep. 30, 2025

Dec. 31, 2024

Long-Lived Assets

^[1]

$ 198

$ 189

UNITED STATES

Long-Lived Assets

^[1]

147

143

EMEA [Member]

Long-Lived Assets

^[1]

Asia Pacific [Member]

Long-Lived Assets

^[1]

Canada And Latin America [Member]

Long-Lived Assets

^[1]

Non-US [Member]

Long-Lived Assets

^[1],[2]

$ 51

$ 46

[1]	Long-lived assets are comprised of property, plant and equipment, net.
[2]	Of the total non-U.S. property, plant and equipment as of September 30, 2025, $40 million was located in Brazil. Of the total non-U.S. property, plant and equipment as of December 31, 2024, $35 million was located in Brazil.

Note 12 - Income Taxes (Tables)

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Kodak’s income tax provision and effective tax rate were as follows:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(dollars in millions)	2025			2024			2025			2024
Earnings (loss) from operations before income taxes	$	16		$	21		$	(13	)	$	83
Effective tax rate		18.8	%		14.3	%		(53.8	)%		8.4	%
Provision for income taxes		3			3			7			7
Provision (benefit) for income taxes at U.S. statutory tax rate		3			4			(3	)		17
Difference between tax at effective vs. statutory rate	$	—		$	(1	)	$	10		$	(10	)

Note 1 - Basis of Presentation and Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Millions			9 Months Ended
	Nov. 30, 2025	Oct. 21, 2025	Sep. 30, 2025	Dec. 31, 2024	Feb. 26, 2021
Cash and cash equivalents			$ 168	$ 201
Short-term borrowings and current portion of long-term debt			497	$ 1
Subsequent Event [Member]
Pension obligations remaining liabilties	$ 15
Kodak Retirement Income Plan [Member]
Pension obligations settled			$ 2,100
Kodak Retirement Income Plan [Member] \| Subsequent Event [Member]
Pension obligations settled		$ 1,800
Series B Preferred Stock [Member]
Embedded Derivative, Fair Value of Embedded Derivative Liability					$ 1

Note 11 - Other Charges (Income), Net (Tables)

9 Months Ended

Sep. 30, 2025

Other Income and Expenses [Abstract]

Schedule of Other Charges (Income), Net


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2025			2024			2025			2024
Interest income	$	(4	)	$	(2	)	$	(7	)	$	(9	)
Loss on foreign exchange transactions		3			1			9			7
Asset impairment (1)		4			—			21			—
Other		(2	)		—			(2	)		—
Total	$	1		$	(1	)	$	21		$	(2	)

(1)

Note 3 - Inventories, Net (Tables)

9 Months Ended

Sep. 30, 2025

Inventory Disclosure [Abstract]

Schedule of Current Inventory


	September 30,		December 31,
(in millions)	2025		2024
Finished goods	$	95	$	90
Work in process		77		69
Raw materials		64		60
Total	$	236	$	219

Note 6 - Leases - Summary of Income Recognized on Lease Arrangements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Leases [Abstract]
Lease income	$ 2	$ 3	$ 7	$ 7
Variable lease income	1	1	4	4
Total lease income	$ 3	$ 4	$ 11	$ 11

Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Cash flows from operating activities:

Net (loss) earnings

$ (20)

$ 76

Adjustments to reconcile to net cash used in operating activities:

Depreciation and amortization

Pension and postretirement income

(42)

(111)

Asset impairment

^[1]

Paid-in-kind interest expense

Non-cash changes in workers' compensation and employee benefit reserves

Stock based compensation

Net gain from sale of assets

(17)

Provision for deferred income taxes

Decrease in trade receivables

Decrease (increase) in miscellaneous receivables

(6)

Increase in inventories

(12)

(25)

Decrease in trade payables

(15)

(1)

Decrease in liabilities excluding borrowings and trade payables

(22)

(39)

Other items, net

Total adjustments

(87)

Net cash used in operating activities

(9)

(11)

Cash flows from investing activities:

Additions to properties

(28)

(39)

Proceeds from sale of assets

Net cash used in investing activities

(23)

(22)

Cash flows from financing activities:

Net proceeds from ATM equity offering program

Preferred stock cash dividend payments

(2)

(3)

Treasury stock purchases

(2)

(1)

Net cash used in financing activities

(3)

(21)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(1)

Net decrease in cash, cash equivalents and restricted cash

(30)

(55)

Cash, cash equivalents and restricted cash, beginning of period

301

377

Cash, cash equivalents and restricted cash, end of period

271

322

Non-cash financing activities:

Series C preferred stock exchange to common stock

$ 124

Amended and Restated Term Loan Agreement [Member]

Cash flows from financing activities:

Repayment of debt

$ (17)

[1]

Note 18 - Financial Instruments (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Derivatives Hedging Instruments	$ 0	$ 0	$ 0	$ 0
Fair Value, Inputs, Level 2 [Member]
Short-term borrowings	412,000,000		412,000,000		$ 1,000,000
Long-term borrowings	10,000,000		10,000,000		436,000,000
Forward Contracts [Member]
Foreign Currency Contract, Asset, Fair Value Disclosure					0
Foreign Currency Contracts, Liability, Fair Value Disclosure	1,000,000		1,000,000		3,000,000
Maximum [Member] \| Forward Contracts [Member]
Foreign Currency Contract, Asset, Fair Value Disclosure	1,000,000		1,000,000
Foreign Exchange Forward [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Asset, Notional Amount	$ 221,000,000		$ 221,000,000		$ 251,000,000

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ 13	$ (26)	$ (7)	$ 18	$ 26	$ 32	$ (20)	$ 76

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2025
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The consolidated interim financial statements are unaudited, and certain information and footnote disclosures related thereto normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, the accompanying unaudited consolidated interim financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the results of operations, financial position and cash flows of Eastman Kodak Company and all companies directly or indirectly controlled, either through majority ownership or otherwise (“Kodak” or the “Company”). The results of operations for the interim periods are not necessarily indicative of the results for the entire fiscal year. These consolidated interim statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”)
Reclassifications	RECLASSIFICATIONS Certain amounts from previous periods have been reclassified to conform to the current period classification of paid-in-kind interest expense in the Consolidated Statement of Cash Flows.
Going Concern	GOING CONCERN As disclosed in the Company’s quarterly report on Form 10‐Q for the quarter ended June 30, 2025, Kodak had debt coming due within twelve months and its plans to adequately fund its debt obligations at that time were not solely within the Company’s control and therefore were not deemed “probable” under U.S. GAAP. As of the date of issuance of these consolidated interim financial statements, the Company has extended the maturity dates of the Term Loans (defined below) and the L/C Facility Agreement (defined below). In addition, as of the date of issuance of these consolidated interim financial statements, Kodak has settled approximately $2.1 billion of pension obligations under the Kodak Retirement Income Plan (“KRIP”) and will transfer the remaining liabilities of approximately $15 million for missing participants to the Pension Benefit Guaranty Corporation (“PBGC”) by the end of November 2025. Upon completing the transfer of these remaining liabilities to the PBGC, all pension obligations under KRIP will be fully settled and the excess pension assets will be distributed to the Company and the Kodak Cash Balance Plan, given the authority of the Plan Sponsor (Kodak) to distribute such assets. Refer to Note 19, “Subsequent Events” for additional information on the amendments for the Term Loans and L/C Facility Agreement as well as the settlement of KRIP’s pension obligations. Based on the actions completed by management, the Company will receive sufficient proceeds from the reversion of cash from KRIP to the Company in December 2025 to adequately fund the Company’s debt obligations required to be paid from such proceeds or otherwise maturing within twelve months as of the filing of this Form 10-Q. Therefore, the prior conditions that raised substantial doubt about Kodak’s ability to continue as a going concern, as disclosed in the Form 10-Q for the quarter ended June 30, 2025, have been resolved.
Recently Adopted Accounting Pronouncements	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS No accounting pronouncements were recently adopted by Kodak. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires disclosure of additional categories of information about federal, state and foreign income taxes in the rate reconciliation table and more details about the reconciling items in some categories if items meet a quantitative threshold. The ASU requires entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. The ASU is required to be applied prospectively, with the option to apply it retrospectively. The ASU is effective for Kodak for the fiscal year ending December 31, 2025, and the required disclosures will be included in Kodak's Form 10-K for the year ending December 31, 2025. As the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires public business entities to disclose specified information about certain costs and expenses, including but not limited to purchases of inventory, employee compensation, depreciation, and intangible asset amortization, in a tabular format within the notes to their financial statements, as well as provide additional disclosures related to certain other specified expenses. The ASU may be applied on either a prospective or retrospective basis and is effective for annual reporting periods beginning after December 15, 2026 (January 1, 2027 for Kodak) and interim reporting periods beginning after December 15, 2027 (January 1, 2028 for Kodak). As the requirements of this ASU relate to disclosure only, the adoption of this ASU will not have a material impact on Kodak’s consolidated financial statements. In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting for internal-use software to reflect the evolution of software development to using an incremental and iterative development method. Accordingly, the ASU removes all references in Subtopic 350-40 to prescriptive and sequential software development phases (or “project stages”), and requires an entity to start capitalizing software costs when both (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. The ASU may be applied using either a prospective, retrospective, or modified transition approach, and is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within such annual reporting periods (January 1, 2028 for Kodak). The Company is currently evaluating the impact of this ASU.

Note 8 - Guarantees (Tables)

9 Months Ended

Sep. 30, 2025

Guarantees [Abstract]

Deferred Revenue by Arrangement


(in millions)
Deferred revenue on extended warranties as of December 31, 2024	$	12
New extended warranty and maintenance arrangements deferred		42
Recognition of extended warranty and maintenance arrangement revenue		(40	)
Deferred revenue on extended warranties as of September 30, 2025	$	14

Note 12 - Income Taxes

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 12: INCOME TAXES

Kodak’s income tax provision and effective tax rate were as follows:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(dollars in millions)	2025			2024			2025			2024
Earnings (loss) from operations before income taxes	$	16		$	21		$	(13	)	$	83
Effective tax rate		18.8	%		14.3	%		(53.8	)%		8.4	%
Provision for income taxes		3			3			7			7
Provision (benefit) for income taxes at U.S. statutory tax rate		3			4			(3	)		17
Difference between tax at effective vs. statutory rate	$	—		$	(1	)	$	10		$	(10	)

For the three and nine months ended September 30, 2025, the difference between Kodak’s effective tax rate and the U.S. statutory rate of 21.0% was primarily attributable to: (1) the jurisdictional mix of earnings (2) the movement of valuation allowances associated with changes in net deferred tax assets from current earnings and losses and (3) a provision associated with foreign withholding taxes on undistributed earnings.

For the three and nine months ended September 30, 2024, the difference between Kodak’s effective tax rate and the U.S. statutory rate of 21.0% was primarily attributable to: (1) the impact related to existing valuation allowances associated with changes in net

deferred tax assets from current earnings and losses, (2) the results from operations in jurisdictions outside the U.S., (3) a provision associated with foreign withholding taxes on undistributed earnings and (4) changes in audit reserves.

In December 2021, the Organisation for Economic Cooperation and Development (“OECD”) introduced Base Erosion and Profit Shifting (“BEPS”) Pillar 2 rules that impose a global minimum tax rate of 15%. Many participating countries enacted changes which took effect in 2024. Following the review of the relevant tax law changes introduced through Pillar 2 implementation, Kodak determined that these new regulations did not have a material impact to its tax provision for the three and nine months ended September 30, 2025 and 2024.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The OBBBA did not have a material impact on Kodak's financial statements for the three and nine months ended September 30, 2025, and Kodak is still assessing the potential impact on future periods.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Section 50
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Note 9 - Revenues - Disaggregated Revenue by Major Product, Product Portfolio Summary, and Geography (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Revenue

$ 269

$ 261

$ 779

$ 777

Core [Member]

Revenue

^[1]

259

252

749

750

Plates Inks And Other Consumables [Member] | Core [Member]

Revenue

^[1]

128

133

384

408

Ongoing Service Arrangements [Member] | Core [Member]

Revenue

^[1]

109

118

Annuities [Member] | Core [Member]

Revenue

^[1]

166

171

493

526

Equipment and Software [Member] | Core [Member]

Revenue

^[1]

Film and Chemicals [Member] | Core [Member]

Revenue

^[1]

208

179

Growth Products [Member]

^[2]

^[3]

131

120

373

358

CANADA

Revenue

North America [Member]

Revenue

138

125

388

371

EMEA [Member]

Revenue

235

251

Asia Pacific [Member]

Revenue

143

141

Latin America [Member]

Revenue

Print [Member]

Revenue

177

182

520

550

Print [Member] | Core [Member]

Revenue

^[1]

177

182

520

550

Print [Member] | Plates Inks And Other Consumables [Member] | Core [Member]

Revenue

^[1]

120

126

363

388

Print [Member] | Ongoing Service Arrangements [Member] | Core [Member]

Revenue

^[1]

109

118

Print [Member] | Annuities [Member] | Core [Member]

Revenue

^[1]

158

164

472

506

Print [Member] | Equipment and Software [Member] | Core [Member]

Revenue

^[1]

Print [Member] | UNITED STATES

Revenue

171

173

Print [Member] | CANADA

Revenue

Print [Member] | North America [Member]

Revenue

185

184

Print [Member] | EMEA [Member]

Revenue

211

234

Print [Member] | Asia Pacific [Member]

Revenue

112

118

Print [Member] | Latin America [Member]

Revenue

Advanced Materials And Chemicals [Member]

Revenue

231

203

Advanced Materials And Chemicals [Member] | Core [Member]

Revenue

^[1]

229

200

Advanced Materials And Chemicals [Member] | Plates Inks And Other Consumables [Member] | Core [Member]

Revenue

^[1]

Advanced Materials And Chemicals [Member] | Annuities [Member] | Core [Member]

Revenue

^[1]

Advanced Materials And Chemicals [Member] | Equipment and Software [Member] | Core [Member]

Revenue

^[1]

Advanced Materials And Chemicals [Member] | Film and Chemicals [Member] | Core [Member]

Revenue

^[1]

208

179

Advanced Materials And Chemicals [Member] | Growth Products [Member]

Revenue

^[2]

Advanced Materials And Chemicals [Member] | UNITED STATES

Revenue

174

161

Advanced Materials And Chemicals [Member] | CANADA

Revenue

Advanced Materials And Chemicals [Member] | North America [Member]

Revenue

175

163

Advanced Materials And Chemicals [Member] | EMEA [Member]

Revenue

Advanced Materials And Chemicals [Member] | Asia Pacific [Member]

Revenue

Advanced Materials And Chemicals [Member] | Latin America [Member]

Revenue

Brand [Member]

Revenue

Brand [Member] | Other [Member]

Revenue

^[3]

Brand [Member] | UNITED STATES

Revenue

Brand [Member] | North America [Member]

Revenue

All Other [Member]

Revenue

All Other [Member] | Other [Member]

Revenue

^[3]

All Other [Member] | UNITED STATES

Revenue

All Other [Member] | North America [Member]

Revenue

$ 4

$ 3

$ 12

$ 11

[1]	Core includes the Print segment and the Motion Picture and Industrial Film and Chemicals businesses within the Advanced Materials and Chemicals segment, excluding coating and product commercialization services (“Coating Services”).
[2]	Growth consists of Coating Services, Analytical Services and Advanced Materials and Functional Printing within the Advanced Materials and Chemicals segment.
[3]	Other consists of Intellectual Property Licensing ("IP Licensing") within the Advanced Materials and Chemicals segment, Brand Licensing and Eastman Business Park.

Note 12 - Income Taxes - Schedule of Income Tax Provision and Effective Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Earnings (loss) from operations before income taxes	$ 16	$ 21	$ (13)	$ 83
Effective tax rate	18.80%	14.30%	(53.80%)	8.40%
Provision for income taxes	$ 3	$ 3	$ 7	$ 7
Provision (benefit) for income taxes at U.S. statutory tax rate	3	4	(3)	17
Difference between tax at effective vs. statutory rate	$ 0	$ (1)	$ 10	$ (10)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
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- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Note 6 - Leases

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Leases

NOTE 6: LEASES

Income recognized on operating lease arrangements for the three and nine months ended September 30, 2025 and 2024 is presented below. Income recognized for sales-type lease arrangements for the three and nine months ended September 30, 2025 was $1 million and $2 million, respectively. Income recognized for sales-type lease arrangements for the three and nine months ended September 30, 2024 was less than $1 million and $1 million, respectively.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2025		2024		2025		2024
Lease income - operating leases:
Lease income	$	2	$	3	$	7	$	7
Variable lease income		1		1		4		4
Total lease income	$	3	$	4	$	11	$	11

Note 16 - Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2025

Statement of Other Comprehensive Income [Abstract]

Other Comprehensive Income (Loss)

NOTE 16: OTHER COMPREHENSIVE INCOME (LOSS)

The changes in Other comprehensive income (loss) by component were as follows:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2025			2024			2025			2024
Currency translation adjustments
Currency translation adjustments	$	(2	)	$	12		$	11		$	—

Pension and other postretirement benefit plan changes
Newly established net actuarial gain		96			—			10			—
Tax provision		—			—			—			—
Newly established net actuarial gain, net of tax		96			—			10			—
Reclassification adjustments:
Amortization of prior service cost (1)		3			2			8			8
Amortization of actuarial gains (1)		—			(9	)		(7	)		(28	)
Recognition of gains due to settlements (1)		(1	)		—			(1	)		—
Total reclassification adjustments		2			(7	)		—			(20	)
Tax provision		—			—			—			—
Reclassification adjustments, net of tax		2			(7	)		—			(20	)
Pension and other postretirement benefit plan changes, net of tax		98			(7	)		10			(20	)
Other comprehensive income (loss)	$	96		$	5		$	21		$	(20	)

(1)

Reclassified to Total Net Periodic Benefit Cost - refer to Note 13, "Retirement Plans and Other Postretirement Benefits".

Note 17 - Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Financial Asset Information by Reportable Segment

Segment Revenues, Operational EBITDA and Consolidated Earnings (Loss) from Continuing Operations Before Income Taxes


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2025			2024			2025			2024
(in millions)
Print:
Revenues from external customers	$	177		$	182		$	520		$	550
Cost of revenues		138			154			422			446
Selling, general and administrative expenses		28			32			92			99
Research and development expenses		3			5			11			14
Operational EBITDA		8			(9	)		(5	)		(9	)

Advanced Materials and Chemicals:
Revenues from external customers		82			71			231			203
Cost of revenues		55			53			166			154
Selling, general and administrative expenses		8			9			25			25
Research and development expenses		3			3			9			9
Operational EBITDA		16			6			31			15

Brand:
Revenues from external customers		6			5			16			13
Selling, general and administrative expenses		1			1			2			2
Operational EBITDA		5			4			14			11

Total Operational EBITDA for Reportable Segments		29			1			40			17
All Other Operational EBITDA		1			1			1			2
Depreciation and amortization		(7	)		(8	)		(21	)		(21	)
Restructuring costs and other		(1	)		(1	)		(12	)		(6	)
Stock-based compensation		(1	)		(1	)		(4	)		(5	)
Consulting and other costs (1)		(1	)		—			—			(1	)
Idle costs (2)		(1	)		—			(3	)		(1	)
Other operating income, net (3)		—			—			—			16
Interest expense (3)		(18	)		(14	)		(47	)		(44	)
Pension income excluding service cost component (3)		16			42			54			124
Other (charges) income, net (3)		(1	)		1			(21	)		2
Consolidated earnings (loss) from continuing operations before income taxes	$	16		$	21		$	(13	)	$	83

(1)

Consulting and other costs are professional services and internal costs associated with corporate strategic initiatives and litigation. Consulting and other costs included $1 million of income in the nine months ended September 30, 2025 representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters.

(2)

Consists of third-party costs such as security, maintenance and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.

(3)

As reported in the Consolidated Statement of Operations.


	Three Months Ended				Nine Months Ended
(in millions)	September 30,				September 30,
Intangible asset amortization expense from continuing operations:	2025		2024		2025		2024
Print	$	1	$	1	$	3	$	3
Total	$	1	$	1	$	3	$	3


	Three Months Ended				Nine Months Ended
(in millions)	September 30,				September 30,
Depreciation expense from continuing operations:	2025		2024		2025		2024
Print	$	3	$	4	$	11	$	12
Advanced Materials and Chemicals		2		2		6		5
All Other		1		1		1		1
Total	$	6	$	7	$	18	$	18

Summmary of Reconciliation of Reportable Segment Revenues to Consolidated Revenues

A reconciliation of reportable segment revenues to consolidated revenues follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2025		2024		2025		2024
Total Reportable Segment Revenues	$	265	$	258	$	767	$	766
All Other Revenues		4		3		12		11
Total Consolidated Revenues	$	269	$	261	$	779	$	777

Long Lived Assets by Geographical Areas


(in millions)	September 30,		December 31,
Long-lived assets located in: (1)	2025		2024
The United States	$	147	$	143
Europe, Middle East and Africa		5		5
Asia Pacific		4		5
Canada and Latin America		42		36
Non-U.S. countries total (2)		51		46
Total	$	198	$	189

(1) Long-lived assets are comprised of property, plant and equipment, net.

(2) Of the total non-U.S. property, plant and equipment as of September 30, 2025, $40 million was located in Brazil. Of the total

non-U.S. property, plant and equipment as of December 31, 2024, $35 million was located in Brazil.

Note 17 - Segment Information

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Segment Information

NOTE 17: SEGMENT INFORMATION

Kodak has three reportable segments: Print, Advanced Materials and Chemicals and Brand. Kodak’s reportable segments are based on a combination of factors that the chief operating decision maker (“CODM”) uses to evaluate and manage the business operations, including but not limited to, Kodak’s organizational structure, customer base, markets, products and services and related technologies. Kodak does not aggregate operating segments. A description of Kodak’s reportable segments follows.

Print: The Print segment is comprised of four lines of business: the Prepress Solutions business, the PROSPER business, the Software business and the Electrophotographic Printing Solutions business.

Advanced Materials and Chemicals: The Advanced Materials and Chemicals segment is comprised of four lines of business: the Industrial Film and Chemicals business, the Motion Picture business, the Advanced Materials and Functional Printing business and the IP Licensing and Analytical Services business.

Brand: The Brand segment contains the brand licensing business.

The balance of Kodak’s continuing operations, which do not meet the criteria of a reportable segment, are reported in All Other revenues and All Other Operational EBITDA, and primarily represent the operations of the Eastman Business Park.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies in Note 1 included in the 2024 Form 10-K. There are no intersegment sales between the segments.

Kodak’s CODM is the Executive Chairman and Chief Executive Officer. Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). Operational EBITDA represents the earnings (loss) from operations excluding the provision for income taxes; non-service cost components of pension and other postemployment benefits (“OPEB”) income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; interest expense; other operating income, net and other (charges) income, net.

The CODM uses Operational EBITDA in assessing segment performance and deciding how to allocate resources for each segment predominantly through the annual budget and forecasting process. The CODM evaluates Operational EBITDA budget-to-actual variances, changes in Operational EBITDA from prior periods and when comparing the results of each segment with one another.

Segment financial information is shown below. Asset information by reportable segment is not disclosed below as this information is not regularly provided to or used by the CODM in assessing performance and allocating resources.

Segment Revenues, Operational EBITDA and Consolidated Earnings (Loss) from Continuing Operations Before Income Taxes


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2025			2024			2025			2024
(in millions)
Print:
Revenues from external customers	$	177		$	182		$	520		$	550
Cost of revenues		138			154			422			446
Selling, general and administrative expenses		28			32			92			99
Research and development expenses		3			5			11			14
Operational EBITDA		8			(9	)		(5	)		(9	)

Advanced Materials and Chemicals:
Revenues from external customers		82			71			231			203
Cost of revenues		55			53			166			154
Selling, general and administrative expenses		8			9			25			25
Research and development expenses		3			3			9			9
Operational EBITDA		16			6			31			15

Brand:
Revenues from external customers		6			5			16			13
Selling, general and administrative expenses		1			1			2			2
Operational EBITDA		5			4			14			11

Total Operational EBITDA for Reportable Segments		29			1			40			17
All Other Operational EBITDA		1			1			1			2
Depreciation and amortization		(7	)		(8	)		(21	)		(21	)
Restructuring costs and other		(1	)		(1	)		(12	)		(6	)
Stock-based compensation		(1	)		(1	)		(4	)		(5	)
Consulting and other costs (1)		(1	)		—			—			(1	)
Idle costs (2)		(1	)		—			(3	)		(1	)
Other operating income, net (3)		—			—			—			16
Interest expense (3)		(18	)		(14	)		(47	)		(44	)
Pension income excluding service cost component (3)		16			42			54			124
Other (charges) income, net (3)		(1	)		1			(21	)		2
Consolidated earnings (loss) from continuing operations before income taxes	$	16		$	21		$	(13	)	$	83

(1)

(2)

(3)

As reported in the Consolidated Statement of Operations.

A reconciliation of reportable segment revenues to consolidated revenues follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2025		2024		2025		2024
Total Reportable Segment Revenues	$	265	$	258	$	767	$	766
All Other Revenues		4		3		12		11
Total Consolidated Revenues	$	269	$	261	$	779	$	777

Kodak decreased employee benefit reserves by approximately $1 million in the three months ended September 30, 2025 due to a decrease in workers' compensation reserves driven by changes in discount rates. The decrease in reserves in the three months ended September 30, 2025 impacted gross profit by approximately $1 million. There was no change in employee benefit reserves for the nine months ended September 30, 2025.

Kodak increased employee benefit reserves by approximately $2 million and $1 million in the three and nine months ended September 30, 2024, respectively. The increase in employee benefits reserves in the three months ended September 30, 2024 was primarily due to an increase in workers' compensation reserves driven by changes in discount rates. The increase in reserves in the three months ended September 30, 2024 impacted gross profit and selling, general and administrative expenses ("SG&A") by approximately $1 million each. The increase in reserves in the nine months ended September 30, 2024 did not have a significant impact on gross profit, R&D or SG&A.

Amortization and depreciation expense by segment are not included in the segment measure of profit and loss but are regularly provided to the CODM.


	Three Months Ended				Nine Months Ended
(in millions)	September 30,				September 30,
Intangible asset amortization expense from continuing operations:	2025		2024		2025		2024
Print	$	1	$	1	$	3	$	3
Total	$	1	$	1	$	3	$	3


	Three Months Ended				Nine Months Ended
(in millions)	September 30,				September 30,
Depreciation expense from continuing operations:	2025		2024		2025		2024
Print	$	3	$	4	$	11	$	12
Advanced Materials and Chemicals		2		2		6		5
All Other		1		1		1		1
Total	$	6	$	7	$	18	$	18


(in millions)	September 30,		December 31,
Long-lived assets located in: (1)	2025		2024
The United States	$	147	$	143
Europe, Middle East and Africa		5		5
Asia Pacific		4		5
Canada and Latin America		42		36
Non-U.S. countries total (2)		51		46
Total	$	198	$	189

(1) Long-lived assets are comprised of property, plant and equipment, net.

(2) Of the total non-U.S. property, plant and equipment as of September 30, 2025, $40 million was located in Brazil. Of the total

non-U.S. property, plant and equipment as of December 31, 2024, $35 million was located in Brazil.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Note 13 - Retirement Plans and Other Postretirement Benefits (Details Textual) - USD ($) $ in Millions				3 Months Ended	12 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2025	Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]
Increase in discount rates			$ 22
Remeasurement discount rate	5.03%	5.20%	5.26%	5.03%	5.45%
Remeasurement of teasury rate			4.59%		4.75%
Actuarial gain (Loss)	$ 96	$ (16)	$ (68)
Actuarial loss associated with asset returns	20	56
Partially offset by an asset actuarial gain (loss)	(21)	(8)	22
Expected rate of return on plan assets assumption					5.20%
Settlement gain				$ 1
KRIP's Projected Benefit Obligation ("PBO") [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (Loss)	76	40	(90)
Partially offset by an asset actuarial gain (loss)			$ 22
Mortality and Other Demographic Experience [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (Loss)		$ 48
Termination Changes [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (Loss)	104
Current Asset Class Allocation [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected rate of return on plan assets assumption					3.80%
Demographic Experience [Member]
Defined Benefit Plan Disclosure [Line Items]
Partially offset by an asset actuarial gain (loss)	$ 7

Note 3 - Inventories, Net - Schedule of Current Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Finished goods	$ 95	$ 90
Work in process	77	69
Raw materials	64	60
Total	$ 236	$ 219

Note 2 - Cash, Cash Equivalents and Restricted Cash (Tables)

9 Months Ended

Sep. 30, 2025

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents [Table Text Block]


	September 30,		December 31,
(in millions)	2025		2024
Cash and cash equivalents	$	168	$	201
Restricted cash reported in Other current assets		8		8
Restricted cash		95		92
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	271	$	301

Note 13 - Retirement Plans and Other Postretirement Benefits

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Retirement Plans

NOTE 13: RETIREMENT PLANS AND OTHER POSTRETIREMENT BENEFITS

Components of the net periodic benefit cost for all major U.S. and non-U.S. defined benefit plans are as follows:


	Three Months Ended												Nine Months Ended
	September 30,												September 30,
	2025						2024						2025						2024
(in millions)	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
Major defined benefit plans:
Service cost	$	—		$	—		$	3		$	—		$	3		$	1		$	10		$	1
Interest cost		23			4			27			5			74			12			82			14
Expected return on plan assets		(42	)		(4	)		(62	)		(5	)		(128	)		(14	)		(187	)		(14	)
Amortization of:
Prior service cost		3			—			3			—			9			—			9			—
Actuarial (gain) loss		—			—			(9	)		1			(7	)		1			(28	)		1
Net pension (income) expense before special termination benefits and settlements		(16	)		—			(38	)		1			(49	)		—			(114	)		2
Special termination benefits (1)		—			—			—			—			2			—			1			—
Settlement gain (2)		(1	)		—			—			—			(1	)		—			—			—
Net pension (income) expense from major plans		(17	)		—			(38	)		1			(48	)		—			(113	)		2
Other plans		3			—			—						6			—			—			1
Total net pension (income) expense	$	(14	)	$	—		$	(38	)	$	1		$	(42	)	$	—		$	(113	)	$	3

(1) The special termination benefits were incurred as a result of Kodak’s restructuring actions and have been included in

Restructuring costs and other in the Consolidated Statement of Operations for that period.

(2)

The settlement gain was the result of lump sum payments from KRIP and the transfer to the insurer of all obligations and responsibilities associated with an existing annuitized obligation.

On January 21, 2025, the Board of Directors of Kodak approved the termination of the Kodak Retirement Income Plan (“KRIP”), effective March 31, 2025, and no further benefits were accrued under KRIP following this date. In addition, the Board of Directors approved a defined benefit retirement plan (the “Kodak Cash Balance Plan”) as a replacement for KRIP which became effective on March 1, 2025 for new hires and on April 1, 2025 for current employees. The benefits under the Kodak Cash Balance Plan are substantially the same as those under the cash balance feature of KRIP.

During the three months ended March 31, 2025, Kodak concluded that it was probable that the criteria for settlement accounting for KRIP would be met in 2025 as the projected cost of all settlements would exceed the sum of the service cost and interest cost components of net periodic pension cost for the year. As a result, Kodak applied settlement accounting and remeasured KRIP for each quarterly period in 2025.

The March 31, 2025 remeasurement resulted in a net actuarial loss of $68 million, comprised of an actuarial loss of $90 million related to KRIP’s projected benefit obligation ("PBO") partially offset by an asset actuarial gain of $22 million. The PBO actuarial loss of $90 million was due in part to a decrease in discount rates, partially offset by a reduction in the 30-year Treasury rate (total net impact of $22 million). The discount rate assumption used in the March 31, 2025 remeasurement was 5.26% compared to 5.45% used at December 31, 2024, and the 30-year Treasury rate used in the March 31, 2025 remeasurement was 4.59% compared to 4.75% used at December 31, 2024. The remaining actuarial loss of $68 million was due to assumption changes related to measuring the plan on a termination basis, including assumed premiums for purchasing annuities to settle obligations and the timing of lump sum payments. The expected rate of return on plan assets assumption used in the March 31, 2025 remeasurement was unchanged from the rate used at December 31, 2024 (5.20%). The asset actuarial gain of $22 million was driven by actual asset returns being higher than expected returns. The impacts from settlement accounting during the first quarter of 2025 were immaterial.

The June 30, 2025 remeasurement resulted in a net actuarial loss of $16 million, comprised of an actuarial loss associated with asset returns of $56 million, partially offset by an actuarial gain associated with the PBO of $40 million. The asset actuarial loss was driven by the adverse effect of higher long-term interest rates on the plan’s bond portfolio. The PBO actuarial gain was driven by favorable mortality and other demographic experience of $48 million, partially offset by a loss of $8 million due to lower discount rates. The discount rate assumption used in the June 30, 2025 remeasurement was 5.20% and the expected rate of return on plan assets assumption was unchanged from the rate used at December 31, 2024 (5.20%). The impacts from settlement accounting during the second quarter of 2025 were immaterial.

The September 30, 2025 remeasurement resulted in a net actuarial gain of $96 million, comprised of an actuarial gain associated with asset returns of $20 million, and an actuarial gain associated with the PBO of $76 million. The asset actuarial gain was driven by the positive effect of lower long-term interest rates on the plan’s bond portfolio. The PBO actuarial gain was driven by favorable changes in the termination assumptions of $104 million related to finalization of the purchase of an annuity contract and the timing of lump sum payments, partially offset by a loss of $21 million due to lower discount rates and $7 million due to demographic experience. The discount rate assumption used in the September 30, 2025 remeasurement was 5.03% and the expected rate of return on plan assets assumption was reduced from the rate used at December 31, 2024 to 3.80% to reflect the plan’s current asset class allocation. The impacts from settlement accounting during the third quarter of 2025 resulted in a settlement gain of $1 million.

Refer to Note 19, “Subsequent Events” for additional information on the KRIP termination.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Note 7 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2025	Dec. 31, 2024
BRAZIL
Commitments And Contingencies Disclosure [LineItems]
Restricted Cash and Investments, Noncurrent	$ 7	$ 6
Federal And State Value Added Taxes Litigations And Civil Litigation And Disputes With Former Employees [Member] \| BRAZIL
Commitments And Contingencies Disclosure [LineItems]
Restricted Cash	103
Loss Contingency Accrual	5
Aggregate Claims	93
Loss Contingency, Estimate of Possible Loss	6
Restricted Cash and Investments, Noncurrent	7
Assets, Noncurrent	39
Bank Guarantees And Letters Of Credit [Member]
Commitments And Contingencies Disclosure [LineItems]
Guarantor Obligations, Maximum Exposure, Undiscounted	2
Surety Bond [Member]
Commitments And Contingencies Disclosure [LineItems]
Guarantor Obligations, Maximum Exposure, Undiscounted	47
L C Facility Agreement [Member]
Commitments And Contingencies Disclosure [LineItems]
Restricted Cash and Investments, Noncurrent	$ 25	$ 29

Note 2 - Cash, Cash Equivalents and Restricted Cash

9 Months Ended

Sep. 30, 2025

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Restricted Cash

NOTE 2: CASH, CASH EQUIVALENTS AND RESTRICTED CASH

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Financial Position that sums to the total of such amounts shown in the Consolidated Statement of Cash Flows:


	September 30,		December 31,
(in millions)	2025		2024
Cash and cash equivalents	$	168	$	201
Restricted cash reported in Other current assets		8		8
Restricted cash		95		92
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	271	$	301

Restricted cash reported in Other current assets on the Consolidated Statement of Financial Position primarily represented amounts that support hedging activities as of September 30, 2025 and December 31, 2024.

Restricted cash included $25 million and $29 million as of September 30, 2025 and December 31, 2024, respectively, representing the cash collateral required to be posted by the Company under the Amended and Restated L/C Facility Agreement, defined below. In addition, restricted cash as of September 30, 2025 and December 31, 2024 included $61 million and $55 million, respectively, primarily representing cash collateral supporting the Company’s undiscounted actuarial workers’ compensation obligations with the New York State Workers’ Compensation Board ("NYS WCB"). Restricted cash also included $7 million and $6 million of security posted related to Brazilian legal contingencies as of September 30, 2025 and December 31, 2024, respectively.

Note 9 - Revenue 2 (Details Textual)	Sep. 30, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
Revenue, Remaining Performance Obligation, Percentage	5.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Percentage	15.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Percentage	15.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Percentage	15.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Percentage	50.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 17 - Segment Information - Summary of Reconciliation of Reportable Segment Revenues to Consolidated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 269	$ 261	$ 779	$ 777
All Other Revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4	3	12	11
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 265	$ 258	$ 767	$ 766

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Note 11 - Other Charges (Income), Net (Details Textual) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2025

Jun. 30, 2025

Sep. 30, 2025

Other Income and Expenses [Abstract]

Impairment charge

$ 4

^[1]

$ 17

$ 21

^[1]

Carrying value of investment

$ 4

[1]

Note 15 - Shareholders' Equity

9 Months Ended

Sep. 30, 2025

Stockholders' Equity Note [Abstract]

Shareholders' Equity

NOTE 15: SHAREHOLDERS’ EQUITY

The Company has 560 million shares of authorized stock, consisting of: (i) 500 million shares of common stock, par value $0.01 per share and (ii) 60 million shares of preferred stock, no par value, issuable in one or more series.

Common Stock

As of September 30, 2025 and December 31, 2024, there were 96.4 million and 80.5 million shares of common stock outstanding, respectively.

At-The-Market ("ATM") Equity Offering Program

On May 21, 2025, the Company entered into an ATM Equity Offering Sales Agreement (the “Sales Agreement”) with BofA Securities, Inc. (“BofA”), pursuant to which the Company may offer and sell up to $100 million of shares of the Company’s common stock, par value $0.01 per share (the “shares”), from time to time, in “at-the-market” offerings through BofA, as sales agent or as principal. The Company intends to use the net proceeds from the sale of the shares for general corporate purposes.

Sales of the shares, if any, will be made at prevailing market prices at the time of sale, or as otherwise agreed with BofA. BofA will receive a commission from the Company that will not exceed, but may be lower than, 3% of the gross sales price of all shares sold under the Sales Agreement.

During the third quarter of 2025, the Company sold 200,000 shares pursuant to the Sales Agreement for net proceeds of approximately $1 million.

Preferred Stock

Series B Preferred stock issued and outstanding as of both September 30, 2025 and December 31, 2024 consisted of 1.0 million shares.

On August 8, 2025, the Company issued 15,103,163 shares of common stock in exchange for all outstanding shares of Series C Preferred Stock, including accrued and unpaid dividends thereon, pursuant to a Series C Preferred Stock Exchange Agreement entered into with the Investor on August 8, 2025. Following the completion of the exchange, the Company had no outstanding shares of Series C Preferred Stock and the Company’s obligations with respect to the Series C Preferred Stock were fully discharged.

Series C Preferred stock issued and outstanding as of December 31, 2024 consisted of 1.2 million shares.

Treasury Stock

Treasury stock consisted of approximately 1.5 million and 1.3 million shares as of September 30, 2025 and December 31, 2024, respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (b)
-Publisher FASB
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Note 16 - Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2025

Statement of Other Comprehensive Income [Abstract]

Changes in Other Comprehensive Income (Loss), by Component

The changes in Other comprehensive income (loss) by component were as follows:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2025			2024			2025			2024
Currency translation adjustments
Currency translation adjustments	$	(2	)	$	12		$	11		$	—

Pension and other postretirement benefit plan changes
Newly established net actuarial gain		96			—			10			—
Tax provision		—			—			—			—
Newly established net actuarial gain, net of tax		96			—			10			—
Reclassification adjustments:
Amortization of prior service cost (1)		3			2			8			8
Amortization of actuarial gains (1)		—			(9	)		(7	)		(28	)
Recognition of gains due to settlements (1)		(1	)		—			(1	)		—
Total reclassification adjustments		2			(7	)		—			(20	)
Tax provision		—			—			—			—
Reclassification adjustments, net of tax		2			(7	)		—			(20	)
Pension and other postretirement benefit plan changes, net of tax		98			(7	)		10			(20	)
Other comprehensive income (loss)	$	96		$	5		$	21		$	(20	)

(1)

Reclassified to Total Net Periodic Benefit Cost - refer to Note 13, "Retirement Plans and Other Postretirement Benefits".

Note 4 - Debt and Credit Facilities

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Debt and Credit Facilities

NOTE 4: DEBT AND CREDIT FACILITIES

Term Loan Credit Agreement

On February 26, 2021, the Company and certain of its subsidiaries (the "Subsidiary Guarantors") entered into a Credit Agreement (the “Original Term Loan Credit Agreement”) with certain funds affiliated with Kennedy Lewis Investment Management LLC (“KLIM”) as lenders (the “Original Term Loan Lenders”) and Alter Domus (US) LLC, as administrative agent (the “Term Loan Agent”). Pursuant to the Original Term Loan Credit Agreement, the Original Term Loan Lenders provided the Company with (i) an initial term loan in the amount of $225 million, which was drawn in full on the same date, and (ii) a commitment to provide delayed draw term loans in an aggregate principal amount of up to $50 million on or before February 26, 2023 (collectively, the “Original Term Loans”). The delayed draw term loans were drawn in full on June 15, 2022. The maturity date of the Original Term Loans was February 26, 2026, and the Original Term Loans were non-amortizing.

On June 30, 2023, the Company and the Subsidiary Guarantors entered into an amendment (the “Term Loan Amendment”) to the Original Term Loan Credit Agreement (the Original Term Loan Credit Agreement, as amended and restated the “Amended and Restated Term Loan Credit Agreement”), with certain funds affiliated with KLIM as lenders (the “Term Loan Lenders”) and the Term Loan Agent. Subject to the terms and conditions of the Term Loan Amendment, the Term Loan Lenders provided the Company with a commitment to provide term loans in an aggregate principal amount of $450 million (the “Term Loans”).

On July 21, 2023, the Amended and Restated Term Loan Credit Agreement became effective and the Company completed its borrowing of the Term Loans. The Company received net proceeds of $435 million from the Term Loans which were used to (i) refinance the obligations under the Original Term Loan Credit Agreement, (ii) repay in full and terminate the commitments under the Company’s asset-based revolving credit facility made available pursuant to amendment No. 5 to the Amended and Restated Credit Agreement (the “2023 Amended ABL Credit Agreement") with the lenders party thereto, Bank of America, N.A., as administrative agent and collateral agent, (iii) repay in full the Company’s outstanding 5.0% unsecured convertible promissory notes due May 28, 2026 (the "Convertible Notes") held by the Original Term Loan Lenders, (iv) pay certain fees and expenses related to the foregoing and the Amended and Restated L/C Facility Agreement (as defined below), (v) provide cash collateral in respect of the Amended and Restated L/C Facility Agreement, as described below, or other collateral obligations, and (vi) for general corporate purposes and working capital needs of the Company and its subsidiaries (a net amount of $29 million).

The Term Loan Amendment also amended and restated the Original Term Loan Credit Agreement to, among other things, (i) extend the maturity date to the earlier of August 15, 2028 or the date that is 91 days prior to the maturity date or mandatory redemption date of any of the Company’s then-outstanding Series B Preferred Stock or Series C Preferred Stock ("Convertible Securities") or any extensions or refinancings of any of the foregoing, (ii) make certain other changes to the terms of the Original Term Loan Credit Agreement and (iii) make certain other changes to the terms of the Guarantee and Collateral Agreement, dated as of February 26, 2021, among the Company, the Subsidiary Guarantors and the Term Loan Agent.

The Term Loans bear interest at a rate of 7.5% per annum payable in cash (the “Cash Interest Payment”) and 5.0% per annum payable “in-kind” ("PIK") or in cash at the Company’s option, for an aggregate interest rate of 12.5% per annum. Obligations under the Amended and Restated Term Loan Credit Agreement are secured by a first priority lien on substantially all assets of the Company and the Subsidiary Guarantors (subject to certain exceptions) not constituting L/C Cash Collateral, as defined below (collectively, the “Term Loan Priority Collateral”), and a second priority lien on the L/C Cash Collateral.

The Amended and Restated Term Loan Credit Agreement continues to limit, among other things, the ability of the Company and its Restricted Subsidiaries (as defined in the Amended and Restated Term Loan Credit Agreement) to (i) incur indebtedness, (ii) incur or create liens, (iii) dispose of assets, (iv) make restricted payments and (v) make investments. The Amended and Restated Term Loan Credit Agreement contains customary affirmative covenants, including delivery of certain of the Company’s financial statements, and customary event of default provisions, including a cross-default provision that would give rise to an event of default if there is a default under or acceleration of “Material Indebtedness” other than intercompany indebtedness. Material Indebtedness includes obligations having a principal amount of at least $20 million (increasing to $25 million if the Term Loans are paid down to $200 million, which is referred to as the “Deleveraging Milestone Date”). The Amended and Restated Term Loan Credit Agreement does not include a financial maintenance covenant or any subjective acceleration clauses.

On February 26, 2025, the Company and the Subsidiary Guarantors entered into the First Amendment to the Amended and Restated Term Loan Credit Agreement (the “February 2025 Term Loan Credit Agreement Amendment”) with the Term Loan Lenders and the Term Loan Agent to modify the maturity date of the Term Loans to the earlier of August 15, 2028 or May 22, 2026, the date that is

five days prior to the maturity date or mandatory redemption date of any of the Company’s then-outstanding Convertible Securities or any extensions or refinancings of any of the foregoing.

On May 7, 2025, the Company and the Subsidiary Guarantors entered into the Second Amendment to the Amended and Restated Term Loan Credit Agreement (the “May 2025 Term Loan Credit Agreement Amendment”). The May 2025 Term Loan Credit Agreement Amendment provides the Company the option to pay the Cash Interest Payment entirely in PIK for the next six quarterly interest payments. In addition, the May 2025 Term Loan Credit Agreement Amendment revises the mandatory prepayment provisions under the Amended and Restated Term Loan Credit Agreement requiring Kodak to use 100% of the net cash proceeds from certain transactions to prepay Term Loans until the amount of the Term Loans is reduced to $200 million and, thereafter, to use 50% of the net cash proceeds to prepay Term Loans until the amount of the Term Loans is reduced to $100 million, in each case plus a 1% prepayment fee. The Company elected to pay the Cash Interest Payment for the second and third quarters of 2025 entirely in PIK.

On November 4, 2025, the Company and the Subsidiary Guarantors entered into the Third Amendment to the Amended and Restated Credit Agreement with the Term Loan Lenders and the Term Loan Agent which, among other things, modified the maturity date of the Term Loans. Refer to Note 19, “Subsequent Events” for additional information.

Letter of Credit Facility Agreement

On February 26, 2021, the Company and the Subsidiary Guarantors entered into a Letter of Credit Facility Agreement (the “L/C Facility Agreement”) among the Company, the Subsidiary Guarantors, the lenders party thereto (the “L/C Lenders”), Bank of America, N.A., as agent, and Bank of America, N.A., as issuing bank. Pursuant to the L/C Facility Agreement, the L/C Lenders committed to issue letters of credit on the Company’s behalf in an aggregate amount of up to $50 million, provided that the Company posts cash collateral in an amount greater than or equal to 103% of the aggregate amount of letters of credit issued and outstanding at any given time (the “L/C Cash Collateral”).

On March 14, 2023, the Company entered into an amendment to the L/C Facility Agreement (the “2023 Amended L/C Facility Agreement”) to, among other things: (i) extend the maturity date of the L/C Facility Agreement from February 26, 2024 to the earliest of June 12, 2024, the termination of the 2023 Amended ABL Credit Agreement, as applicable, or the date that is 91 days prior to the earliest scheduled maturity date or mandatory redemption date of any of the Company’s Term Loans, Convertible Notes, Series B Preferred Stock, Series C Preferred Stock or any refinancing of any of the foregoing and (ii) require the Company to maintain daily Minimum Liquidity of $50 million, subject to certain cure rights, and to maintaining a quarterly Minimum Liquidity of $80 million. Each of the capitalized but undefined terms used in the context of describing the 2023 Amended L/C Facility Agreement has the meaning ascribed to such term in the 2023 Amended L/C Facility Agreement.

The 2023 Amended L/C Facility Agreement required the Company to maintain Excess Availability above the greater of 12.5% of lender commitments or $11.25 million. If Excess Availability fell below the greater of 12.5% of lender commitments or $11.25 million, a Fixed Charge Coverage Ratio Trigger Event would have occurred under the 2023 Amended L/C Facility Agreement. During any Fixed Charge Coverage Ratio Trigger Event, the Company would have been required to maintain a Fixed Charge Coverage Ratio of greater than or equal to 1.0 to 1.0. Since Excess Availability was greater than 12.5% of lender commitments or $11.25 million throughout the term of the 2023 Amended L/C Facility Agreement, Kodak was not required to have a minimum Fixed Charge Coverage Ratio of greater than or equal to 1.0 to 1.0.

On June 30, 2023, the Company and the Subsidiary Guarantors entered into an amendment (the “June 2023 L/C Facility Amendment”) to the 2023 Amended L/C Facility Agreement (as amended and restated by the June 2023 L/C Facility Amendment, the “Amended and Restated L/C Facility Agreement”), with Bank of America, N.A., as L/C Lender, L/C Agent and Issuing Bank. The June 2023 L/C Facility Amendment became effective on July 21, 2023.

Under the terms and conditions of the June 2023 L/C Facility Amendment, the L/C Lender increased the commitment to issue letters of credit on the Company’s behalf from an aggregate amount of up to $50 million, to an aggregate amount of up to $100 million (the “L/C Facility Commitments”), until August 30, 2023; provided that, at all times, the Company posted cash collateral in an amount greater than or equal to 104% of the aggregate amount of letters of credit issued and outstanding at any given time (the “L/C Cash Collateral”).

Upon the termination of the 2023 Amended ABL Credit Agreement on July 21, 2023, the letters of credit totaling $58 million issued under the 2023 Amended ABL Credit Agreement were transferred to the Amended and Restated L/C Facility Agreement. The Company used $59 million of the net proceeds from the Term Loans to cash collateralize the letters of credit transferred to the L/C Facility. In August 2023, the Company used $68 million of the funds in the L/C Cash Collateral account to cash collateralize the

Company’s undiscounted actuarial workers’ compensation obligations directly with the NYS WCB, reducing the issued letters of credit to $31 million, and elected to reduce the L/C Facility Commitments to $50 million effective August 15, 2023.

The June 2023 L/C Facility Amendment also amended and restated the 2023 Amended L/C Facility Agreement to, among other things, (i) extended the maturity date to the earliest of (x) the fifth anniversary of the Restatement Date (as defined therein), (y) the date that is 90 days prior to the maturity of the Amended and Restated Term Loan Credit Agreement, as such date may be extended pursuant to the terms thereof (or the maturity date of any refinancing thereof), or (z) the date that is 90 days prior to the earliest scheduled maturity date or mandatory redemption date of any of the Company’s then-outstanding Convertible Securities or any refinancings of any of the foregoing, (ii) eliminated the existing cash maintenance requirements, and (iii) made certain other changes to the terms of the 2023 Amended L/C Facility Agreement.

Approximately $24 million and $27 million letters of credit were issued under the Amended and Restated L/C Facility Agreement as of September 30, 2025 and December 31, 2024, respectively. The balance on deposit in the L/C Cash Collateral account as of September 30, 2025 and December 31, 2024 was approximately $25 million and $29 million, respectively.

The Company’s obligations under the Amended and Restated L/C Facility Agreement are guaranteed by the Subsidiary Guarantors and are secured by (i) a first priority lien on the L/C Cash Collateral and (ii) a second priority lien on certain Term Loan Priority Collateral of the Company and U.S. subsidiary guarantors.

The Amended and Restated L/C Facility Agreement contains certain affirmative and negative covenants similar to the affirmative and negative covenants contained in the Amended and Restated Term Loan Credit Agreement. The Amended and Restated L/C Facility Agreement does not include a minimum liquidity or financial maintenance covenant.

The Company will pay an unused line fee of 37.5-50 basis points per annum, depending on whether the unused portion of the maximum commitments is less than or equal to 50% or greater than 50% of such commitments, respectively. The Company will pay a letter of credit fee of 3.75% per annum on issued and outstanding letters of credit, in addition to a fronting fee of 25 basis points on such letters of credit. Amounts drawn under any letter of credit will be reimbursed from the L/C Cash Collateral. If not so reimbursed, and not otherwise repaid by the Company to the L/C Lender, such amounts will accrue interest, to be paid monthly, at a floating Base Rate (as defined in the Amended and Restated L/C Facility Agreement) plus 2.75% per annum until repaid.

On February 26, 2025, the Company and the Subsidiary Guarantors entered into an amendment to the Amended and Restated L/C Facility Agreement (the “2025 L/C Facility Agreement Amendment”) with the L/C Lenders and Bank of America, N.A. to modify the maturity date of the facility to the earliest of (x) the fifth anniversary of the Restatement Date, (y) May 12, 2026, the date that is 10 days prior to the maturity of the Amended and Restated Term Loan Credit Agreement, as such date may be extended pursuant to the terms thereof, or (z) May 13, 2026, the date that is 15 days prior to the earliest scheduled maturity date or mandatory redemption date of any of the Company’s then-outstanding Convertible Securities. Upon a Permitted Refinancing (as defined therein) of any of the foregoing, the springing maturity date will be 30 days prior to the maturity date or redemption date of the refinancing.

On November 4, 2025, the Company and the Subsidiary Guarantors entered into Amendment No. 4 to the L/C Facility Agreement with the L/C Lenders and Bank of America, N.A. which, among other things, modified the maturity date of the facility. Refer to Note 19, “Subsequent Events” for additional information.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Note 14 - Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic and Diluted


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2025			2024			2025			2024
Net earnings (loss)	$	13		$	18		$	(20	)	$	76
Less: Series B Preferred stock cash and accrued dividends		(1	)		(1	)		(3	)		(3	)
Less: Series C Preferred stock in-kind dividends		—			(2	)		(3	)		(5	)
Less: Series C Preferred stock exchange to common stock deemed dividend		(19	)		—			(19	)		—
Less: Preferred stock deemed dividends		—			—			(1	)		(1	)
Less: Earnings attributable to Series C Preferred shareholders		—			(2	)		—			(9	)
Net (loss) earnings available to common shareholders - basic	$	(7	)	$	13		$	(46	)	$	58

Effect of dilutive securities:
Add back: Series B preferred stock cash, accrued and deemed dividends	$	—		$	1		$	—		$	4
Net (loss) earnings available to common shareholders - diluted	$	(7	)	$	14		$	(46	)	$	62


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions of shares)	2025		2024		2025		2024
Weighted averages shares - basic		89.8		80.3		83.8		80.0
Effect of dilutive securities
Unvested restricted stock units		—		1.7		—		1.6
Employee stock options		—		1.2		—		1.0
Series B Preferred Stock		—		9.5		—		9.5
Weighted average shares — diluted		89.8		92.7		83.8		92.1

Note 5 - Redeemable, Convertible Preferred Stock (Details Textual)					3 Months Ended			9 Months Ended
	Aug. 08, 2025 USD ($) $ / shares shares	Feb. 26, 2024	Feb. 26, 2023	Feb. 26, 2021 USD ($) $ / shares shares	Sep. 30, 2025 USD ($) $ / shares	Jun. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2025 USD ($) Days $ / shares	Sep. 30, 2024 USD ($)	Dec. 31, 2024 USD ($)
Cash dividend					$ 1,000,000		$ 1,000,000	$ 3,000,000	$ 3,000,000
Preferred Stock, No Par Value (in dollars per share) \| $ / shares					$ 0			$ 0
Common Stock [Member]
Common stock issued upon conversion of prefered stock \| shares	15,103,163
Series B Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage				4.00%
Cash dividend					$ 0	$ 0
Preferred Stock, No Par Value (in dollars per share) \| $ / shares				$ 0
Temporary Equity, Fair Value of Preferred Stock at Issuance				$ 95,000,000
Temporary Equity, Liquidation Preference Per Share (in dollars per share) \| $ / shares				$ 100
Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) \| $ / shares								$ 14.5
Embedded Derivative, Fair Value of Embedded Derivative Liability				$ 1,000,000
Series B Preferred Stock [Member] \| Minimum [Member]
Temporary Equity, Convertible, Threshold Trading Days (Day)								45 days
Series B Preferred Stock [Member] \| Maximum [Member]
Temporary Equity, Convertible, Threshold Trading Days (Day)								60 days
Embedded Derivative, Fair Value of Embedded Derivative Liability					$ 1,000,000			$ 1,000,000		$ 1,000,000
Series C Preferred Stock [Member]
Embedded Derivative, Fair Value of Embedded Derivative Liability				$ 2,000,000
Series C Preferred Stock [Member] \| After February Twenty Six Two Thousand Twenty Four [Member]
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger			200.00%
Temporary Equity, Convertible, Threshold Percentage of Stock Price Trigger		150.00%
Series C Preferred Stock [Member] \| Minimum [Member]
Debt Instrument, Convertible, Threshold Trading Days \| Days								45
Series C Preferred Stock [Member] \| Minimum [Member] \| Other Noncurrent Liabilities [Member]
Embedded Derivative, Fair Value of Embedded Derivative Liability										$ 1,000,000
Series C Preferred Stock [Member] \| Maximum [Member]
Debt Instrument, Convertible, Threshold Consecutive Trading Days \| Days								60
Repurchase And Exchange Agreement [Member] \| Series A Preferred Stock [Member]
Stock Repurchased During Period, Shares (in shares) \| shares				1,000,000
Repurchase And Exchange Agreement [Member] \| Series B Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage				4.00%
Purchase Agreement [Member] \| Series B Preferred Stock [Member]
Convertible Preferred Stock, Share Conversion, Rate (in shares) \| shares				9.5238
Preferred Stock, Convertible, Conversion Price (in dollars per share) \| $ / shares				$ 10.5
Purchase Agreement [Member] \| Series C Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage				5.00%
Preferred Stock, No Par Value (in dollars per share) \| $ / shares				$ 0
Temporary Equity, Liquidation Preference Per Share (in dollars per share) \| $ / shares				100
Preferred Stock, Convertible, Conversion Price (in dollars per share) \| $ / shares				$ 10
Stock Issued During Period, Shares, New Issues (in shares) \| shares				1,000,000
Shares Issued, Price Per Share (in dollars per share) \| $ / shares				$ 100
Proceeds from Issuance or Sale of Equity				$ 100,000,000
Dividend And Other Rights [Member] \| Series C Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage				5.00%
Series C Preferred Stock Exchange Agreement [Member]
Preferred Stock, Convertible, Conversion Price (in dollars per share) \| $ / shares	$ 8.25
Preferred stock aggregate liquidation preference	$ 124,187,100
Preferred stock carrying value	123,000,000
Fair value of the common stock issued	106,000,000
Fair value premium inducement	$ 19,000,000
Preferred stock voting rights								As a result of the Series C Preferred Stock Exchange the Investor’s voting power increased from 12.9% as of December 31, 2024 to 15.7% following the Series C Preferred Stock Exchange. In addition, in connection with the Series C Preferred Stock Exchange the Investor was granted the right to nominate one member for election to the Company’s Board for so long as it holds at least 10% of the outstanding shares of common stock of the Company.
Minimum ownership percentage for board nomination right	10.00%
Series C Preferred Stock Exchange Agreement [Member] \| Common Stock [Member]
Common stock issued upon conversion of prefered stock \| shares	15,103,163
Series C Preferred Stock Exchange Agreement [Member] \| Minimum [Member]
Remaining liability written off								$ 1,000,000
Investor's voting power										12.90%
Series C Preferred Stock Exchange Agreement [Member] \| Maximum [Member]
Investor's voting power	15.70%
Series C Preferred Stock Exchange Agreement [Member] \| Series C Preferred Stock [Member]
Common stock issued upon conversion of prefered stock \| shares	1,241,871

Note 14 - Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024
Net Income (Loss)	$ 13	$ (26)	$ (7)	$ 18	$ 26	$ 32	$ (20)	$ 76
Less: Series B Preferred stock cash and accrued dividends	(1)			(1)			(3)	(3)
Less: Series C Preferred stock in-kind dividends				(2)			(3)	(5)
Less: Series C Preferred stock exchange to common stock deemed dividend	(19)						(19)
Less: Preferred stock deemed dividends							(1)	(1)
Net (loss) earnings available to common shareholders - basic	(7)			13			(46)	58
Add back: Series B preferred stock cash, accrued and deemed dividends				1				4
Net (loss) earnings available to common shareholders - diluted	$ (7)			$ 14			$ (46)	$ 62
Weighted averages shares - basic (in shares)	89.8			80.3			83.8	80.0
Series B Preferred Stock (in shares)				9.5				9.5
Weighted average shares — diluted (in shares)	89.8			92.7			83.8	92.1
Series C Preferred Stock [Member]
Less: Earnings attributable to Series C Preferred shareholders				$ (2)				$ (9)
Restricted Stock Units (RSUs) [Member]
Dilutive Effect of Share-Based Payment Arrangements (in shares)				1.7				1.6
Share-Based Payment Arrangement, Option [Member]
Dilutive Effect of Share-Based Payment Arrangements (in shares)				1.2				1.0

Note 18 - Financial Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Net loss (gain) from derivatives not designated as hedging instruments	$ 2	$ (6)	$ (3)	$ 4

Note 13 - Retirement Plans and Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2025

Retirement Benefits [Abstract]

Components of the Pension Obligation

Components of the net periodic benefit cost for all major U.S. and non-U.S. defined benefit plans are as follows:


	Three Months Ended												Nine Months Ended
	September 30,												September 30,
	2025						2024						2025						2024
(in millions)	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
Major defined benefit plans:
Service cost	$	—		$	—		$	3		$	—		$	3		$	1		$	10		$	1
Interest cost		23			4			27			5			74			12			82			14
Expected return on plan assets		(42	)		(4	)		(62	)		(5	)		(128	)		(14	)		(187	)		(14	)
Amortization of:
Prior service cost		3			—			3			—			9			—			9			—
Actuarial (gain) loss		—			—			(9	)		1			(7	)		1			(28	)		1
Net pension (income) expense before special termination benefits and settlements		(16	)		—			(38	)		1			(49	)		—			(114	)		2
Special termination benefits (1)		—			—			—			—			2			—			1			—
Settlement gain (2)		(1	)		—			—			—			(1	)		—			—			—
Net pension (income) expense from major plans		(17	)		—			(38	)		1			(48	)		—			(113	)		2
Other plans		3			—			—						6			—			—			1
Total net pension (income) expense	$	(14	)	$	—		$	(38	)	$	1		$	(42	)	$	—		$	(113	)	$	3

(1) The special termination benefits were incurred as a result of Kodak’s restructuring actions and have been included in

Restructuring costs and other in the Consolidated Statement of Operations for that period.

(2)

The settlement gain was the result of lump sum payments from KRIP and the transfer to the insurer of all obligations and responsibilities associated with an existing annuitized obligation.

Note 2 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
L C Facility Agreement [Member]
Restricted Cash and Investments, Noncurrent	$ 25	$ 29
Cash Collateralized for Workers Compensation Obligations [Member]
Restricted Cash and Investments, Noncurrent	61	55
BRAZIL
Restricted Cash and Investments, Noncurrent	$ 7	$ 6

Note 8 - Guarantees - Deferred Revenue by Arrangement (Details) $ in Millions	9 Months Ended
	Sep. 30, 2025 USD ($)
Deferred revenue on extended warranties	$ 92
Deferred revenue on extended warranties	98
Extended Warranty Arrangements [Member]
Deferred revenue on extended warranties	12
New extended warranty and maintenance arrangements deferred	42
Recognition of extended warranty and maintenance arrangement revenue	(40)
Deferred revenue on extended warranties	$ 14

Note 12 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
Note 12 - Income Taxes (Details Textual)	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%	21.00%

Note 4 - Debt and Credit Facilities (Details Textual) - USD ($) $ in Thousands					1 Months Ended	6 Months Ended	7 Months Ended	9 Months Ended	12 Months Ended
	Nov. 04, 2025	May 07, 2025	Jul. 21, 2023	Feb. 26, 2021	Aug. 31, 2023	Dec. 31, 2023	Jul. 31, 2023	Sep. 30, 2025	Dec. 31, 2023	Dec. 31, 2024	Jun. 30, 2023	Mar. 14, 2023	Dec. 31, 2022
Excess Availability Percentage Of Lender Commitments Threshold Triggering Cash Dominion Control													12.50%
Subsequent Event [Member]
Proceeds from Issuance of Debt	$ 200,000
L C Facility Agreement [Member]
Line of Credit Facility, Daily Minimum Liquidity				$ 50,000
Letter of Credit, Commitment Amount						$ 50,000			$ 50,000		$ 100,000	$ 50,000
Line of Credit Facility, Aggregate Cash Collateral Percentage						104.00%
Letters of Credit, Amount Transferred			$ 58,000
Proceeds From Issuance of Debt, Collateralize Letters of Credit			$ 59,000
Reductions of Collateral Account to Fund Liabilities					$ 68,000
Letters of Credit Outstanding, Amount						$ 31,000		$ 24,000	$ 31,000	$ 27,000
Letter Of Credit Cash Collateral								$ 25,000		$ 29,000
Line of Credit Facility, Percentage of Letter of Credit Fee									3.75%
Line of Credit Facility, Commitment Fee Percentage								25.00%
Debt Instrument, Basis Spread on Variable Rate								2.75%
Amended A B L Credit Agreement [Member]
Line of Credit Facility, Daily Minimum Liquidity												$ 50,000
Excess Availability Percentage Of Lender Commitments Threshold Triggering Cash Dominion Control												12.50%
Excess Availability Below Which Fixed Charge Coverage Ratios Triggered							12.50%
Lender Commitments Threshold Trigger Excess Availability Amount							$ 11,250					$ 11,250	$ 11,250
Fixed Charged Coverage Ratio Required							1					1
Letter Of Credit Facility Agreement [Member]
Minimum Liquidity Requirement													$ 80,000
Line of Credit Facility, Aggregate Cash Collateral Percentage				103.00%
Minimum [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage							37.50%
Maximum [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage							50.00%
Term Loan Credit Agreement [Member]
Long-Term Debt, Total								$ 225,000
Long Term Debt, Maximum Additional Proceeds								50,000
Refinancing Term Loans [Member]
Debt Instrument, Face Amount								$ 450,000
Debt Instrument, Interest Rate, Stated Percentage								12.50%
Debt Instrument, Interest Rate, Annum Payable								7.50%
Debt Instrument, Interest Rate, Payable In-kind								5.00%
Refinancing Term Loans [Member] \| Five Percentage Unsecured Convertible Promissory Notes Due May Twenty Eight Two Thousand Twenty Six [Member]
Debt Instrument, Interest Rate, Stated Percentage								5.00%
Refinancing Term Loans [Member] \| Minimum [Member]
Debt Instrument, Material Indebtness								$ 20,000
Refinancing Term Loans [Member] \| Maximum [Member]
Debt Instrument, Material Indebtness								25,000
Refinancing Term Loans [Member] \| Used to Refinance Obligations [Member]
Proceeds from Issuance of Debt								435,000
Refinancing Term Loans [Member] \| General Corporate Purposes and Working Capital Needs [Member]
Proceeds from Issuance of Debt								$ 29,000
May 2026 Term Loan Credit Agreement Amendment [Member]
Debt Instrument Prepayment Fee		1.00%
May 2026 Term Loan Credit Agreement Amendment [Member] \| Tranche One [Member]
Proceeds from Issuance of Debt		$ 200,000
Debt Instrument Prepayment Percentage		100.00%
May 2026 Term Loan Credit Agreement Amendment [Member] \| Tranche Two [Member]
Proceeds from Issuance of Debt		$ 100,000
Debt Instrument Prepayment Percentage		50.00%

Note 11 - Other Charges (Income), Net

9 Months Ended

Sep. 30, 2025

Other Income and Expenses [Abstract]

Other Charges (Income), Net

NOTE 11: OTHER CHARGES (INCOME), NET


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2025			2024			2025			2024
Interest income	$	(4	)	$	(2	)	$	(7	)	$	(9	)
Loss on foreign exchange transactions		3			1			9			7
Asset impairment (1)		4			—			21			—
Other		(2	)		—			(2	)		—
Total	$	1		$	(1	)	$	21		$	(2	)

(1)

Consolidated Statement of Financial Position (Unaudited) (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Allowance for trade receivables	$ 8	$ 7
Property, plant, equipment, accumulated depreciation	$ 492	$ 482
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Redeemable Preferred Stock [Member]
Preferred stock, no par value (in dollars per share)	0	0
Preferred stock, liquidation preference per share (in dollars per share)	$ 100	$ 100

Note 5 - Redeemable, Convertible Preferred Stock (Tables)

9 Months Ended

Sep. 30, 2025

Temporary Equity [Abstract]

Schedule of Redeemable, Convertible Preferred Stock

Redeemable convertible preferred stock was as follows:


	September 30,		December 31,
(in millions)	2025		2024
Series B preferred stock	$	99	$	98
Series C preferred stock		—		120
Total	$	99	$	218

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

Consolidated Statement of Equity (Deficit) (Unaudited) - USD ($)
shares in Millions, $ in Millions

Total

Common Stock [Member]

Additional Paid-in Capital [Member]

Accumulated Deficit [Member]

Accumulated Other Comprehensive Loss [Member]

Treasury Stock [Member]

Redeemable Convertible Preferred Stock [Member]

Balance at Dec. 31, 2023

$ 931

$ 1,156

$ (495)

$ 281

$ (11)

$ 210

Net loss earnings

Currency translation adjustments

(6)

Pension and other postretirement liability adjustments

(6)

Preferred stock cash dividends

(1)

Preferred stock in-kind dividends

(1)

Preferred stock deemed dividends

(1)

Stock-based compensation

Balance at Mar. 31, 2024

951

1,156

(463)

269

(11)

212

Balance at Dec. 31, 2023

931

1,156

(495)

281

(11)

210

Net loss earnings

Balance at Sep. 30, 2024

982

1,152

(419)

261

(12)

216

Balance at Mar. 31, 2024

951

1,156

(463)

269

(11)

212

Net loss earnings

Currency translation adjustments

(6)

Pension and other postretirement liability adjustments

(7)

Preferred stock cash dividends

(1)

Preferred stock in-kind dividends

(2)

Purchases of treasury stock (1)

^[1]

(1)

Stock-based compensation

Balance at Jun. 30, 2024

961

1,154

(437)

256

(12)

214

Net loss earnings

Currency translation adjustments

Pension and other postretirement liability adjustments

(7)

Preferred stock cash dividends

(1)

Preferred stock in-kind dividends

(2)

Stock-based compensation

Balance at Sep. 30, 2024

982

1,152

(419)

261

(12)

216

Balance at Dec. 31, 2024

641

1,150

(393)

(104)

(12)

218

Net loss earnings

(7)

Currency translation adjustments

Pension and other postretirement liability adjustments

(75)

Preferred stock cash dividends

(1)

Preferred stock in-kind dividends

(2)

Purchases of treasury stock (1)

^[1]

(1)

Stock-based compensation

Balance at Mar. 31, 2025

563

1,149

(400)

(173)

(13)

220

Balance at Dec. 31, 2024

641

1,150

(393)

(104)

(12)

218

Net loss earnings

(20)

Balance at Sep. 30, 2025

762

$ 1

1,271

(413)

(83)

(14)

Balance at Mar. 31, 2025

563

1,149

(400)

(173)

(13)

220

Net loss earnings

(26)

Currency translation adjustments

Pension and other postretirement liability adjustments

(13)

Preferred stock accrued cash dividends

(1)

Preferred stock in-kind dividends

(1)

Purchases of treasury stock (1)

^[1]

(1)

Preferred stock deemed dividends

(1)

Stock-based compensation

Balance at Jun. 30, 2025

528

1,147

(426)

(179)

(14)

222

Net loss earnings

Currency translation adjustments

(2)

Pension and other postretirement liability adjustments

Common shares issued under ATM equity offering program

Preferred stock accrued cash dividends

(1)

Series C preferred stock exchange for common stock

124

123

(123)

Series C preferred stock exchange for common stock, share

Stock-based compensation

Balance at Sep. 30, 2025

$ 762

$ 1

$ 1,271

$ (413)

$ (83)

$ (14)

$ 99

[1]	Represents purchases of common stock to satisfy tax withholding obligations.

Note 9 - Revenue

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue

NOTE 9: REVENUE

Disaggregation of Revenue

The following tables present revenue disaggregated by major product and geography:

Major Product:


Three Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	120	$	8	$	—	$	—	$	128
Ongoing service arrangements		38		—		—		—		38
Total annuities		158		8		—		—		166
Equipment & software		19		—		—		—		19
Film and chemicals		—		74		—		—		74
Total Core		177		82		—		—		259
Other (3)		—		—		6		4		10
Total	$	177	$	82	$	6	$	4	$	269


Nine Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	363	$	21	$	—	$	—	$	384
Ongoing service arrangements		109		—		—		—		109
Total annuities		472		21		—		—		493
Equipment & software		48		—		—		—		48
Film and chemicals		—		208		—		—		208
Total Core		520		229		—		—		749
Growth products (2)		—		2		—		—		2
Other (3)		—		—		16		12		28
Total	$	520	$	231	$	16	$	12	$	779


Three Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	126	$	7	$	—	$	—	$	133
Ongoing service arrangements		38		—		—		—		38
Total annuities		164		7		—		—		171
Equipment & software		18		—		—		—		18
Film and chemicals		—		63		—		—		63
Total Core		182		70		—		—		252
Growth products (2)		—		1		—		—		1
Other (3)		—		—		5		3		8
Total	$	182	$	71	$	5	$	3	$	261


Nine Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	388	$	20	$	—	$	—	$	408
Ongoing service arrangements		118		—		—		—		118
Total annuities		506		20		—		—		526
Equipment & software		44		1		—		—		45
Film and chemicals		—		179		—		—		179
Total Core		550		200		—		—		750
Growth products (2)		—		3		—		—		3
Other (3)		—		—		13		11		24
Total	$	550	$	203	$	13	$	11	$	777

(1) Core includes the Print segment and the Motion Picture and Industrial Film and Chemicals businesses within the Advanced

Materials and Chemicals segment, excluding coating and product commercialization services (“Coating Services”).

(2) Growth consists of Coating Services, Analytical Services and Advanced Materials and Functional Printing within the Advanced

Materials and Chemicals segment.

(3) Other consists of Intellectual Property Licensing ("IP Licensing") within the Advanced Materials and Chemicals segment, Brand

Licensing and Eastman Business Park.

Geography (1):


Three Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	60	$	61	$	6	$	4	$	131
Canada		7		—		—		—		7
North America		67		61		6		4		138
Europe, Middle East and Africa		70		9		—		—		79
Asia Pacific		35		11		—		—		46
Latin America		5		1		—		—		6
Total	$	177	$	82	$	6	$	4	$	269


Nine Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	171	$	174	$	16	$	12	$	373
Canada		14		1		—		—		15
North America		185		175		16		12		388
Europe, Middle East and Africa		211		24		—		—		235
Asia Pacific		112		31		—		—		143
Latin America		12		1		—		—		13
Total	$	520	$	231	$	16	$	12	$	779


Three Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	56	$	56	$	5	$	3	$	120
Canada		4		1		—		—		5
North America		60		57		5		3		125
Europe, Middle East and Africa		74		6		—		—		80
Asia Pacific		43		8		—		—		51
Latin America		5		—		—		—		5
Total	$	182	$	71	$	5	$	3	$	261


Nine Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	173	$	161	$	13	$	11	$	358
Canada		11		2		—		—		13
North America		184		163		13		11		371
Europe, Middle East and Africa		234		17		—		—		251
Asia Pacific		118		23		—		—		141
Latin America		14		—		—		—		14
Total	$	550	$	203	$	13	$	11	$	777

(1) Sales are reported in the geographic area in which they originate.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed trade receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the Consolidated Statement of Financial Position. The contract assets are transferred to trade receivables when the rights to consideration become unconditional. The amount recorded for contract assets at both September 30, 2025 and December 31, 2024 was $5 million, and was reported in Other current assets in the Consolidated Statement of Financial Position. The contract liabilities primarily relate to brand licensing agreements, prepaid service contracts or upfront payments for certain equipment purchases. The amount recorded for contract liabilities in the Consolidated Statement of Financial Position at September 30, 2025 and December 31, 2024 was $98 million and $92 million, respectively, of which $45 million and $35 million, respectively, was reported in Other current liabilities and $53 million and $57 million, respectively, was reported in Other long-term liabilities.

Revenue recognized for the three and nine months ended September 30, 2025 and 2024 that was included in the contract liability balance at the beginning of the period was $9 million and $26 million, respectively, in 2025 and $9 million and $29 million, respectively, in 2024 and primarily represented revenue from prepaid service contracts and equipment sales. Contract liabilities as of September 30, 2025 included $21 million and $32 million of cash payments received during the three and nine months ended September 30, 2025, respectively. Contract liabilities as of September 30, 2024 included $17 million and $24 million of cash payments received during the three and nine months ended September 30, 2024, respectively.

Kodak does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less or for which revenue is recognized at the amount to which Kodak has the right to invoice for services performed.

Performance obligations with an original expected length of greater than one year generally consist of deferred service contracts, operating leases and licensing arrangements. As of September 30, 2025, there was approximately $86 million of unrecognized revenue from unsatisfied performance obligations. Approximately 5% of the revenue from unsatisfied performance obligations is expected to be recognized in the remainder of 2025, 15% in each of 2026 , 2027 and 2028 and 50% thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Note 17 - Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Revenues from external customers

$ 269

$ 261

$ 779

$ 777

Cost of revenues

201

216

614

625

Selling, general and administrative expenses

127

136

Research and development expenses

Depreciation and amortization

(21)

Restructuring costs and other

(1)

(12)

(6)

Consulting and other costs

Other operating income, net

Interest expense

(18)

(14)

(47)

(44)

Pension income excluding service cost component

124

Other (charges) income, net

(1)

(21)

Consolidated earnings (loss) from continuing operations before income taxes

(13)

Operating Segments [Member]

Revenues from external customers

265

258

767

766

Continuing Operations [Member]

Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization

Depreciation and amortization

(7)

(8)

(21)

Restructuring costs and other

(1)

(12)

(6)

Stock based compensation

(1)

(4)

(5)

Consulting and other costs

^[1]

(1)

Idle costs

^[2]

(1)

(3)

(1)

Other operating income, net

^[3]

Interest expense

^[3]

(18)

(14)

(47)

(44)

Pension income excluding service cost component

^[3]

124

Other (charges) income, net

^[3]

(1)

(21)

Consolidated earnings (loss) from continuing operations before income taxes

(13)

Amortization of Intangible Assets

Depreciation expense

Print [Member]

Revenues from external customers

177

182

520

550

Print [Member] | Continuing Operations [Member] | Operating Segments [Member]

Revenues from external customers

177

182

520

550

Cost of revenues

138

154

422

446

Selling, general and administrative expenses

Research and development expenses

Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization

(9)

(5)

(9)

Amortization of Intangible Assets

Depreciation expense

Advanced Materials And Chemicals [Member]

Revenues from external customers

231

203

Advanced Materials And Chemicals [Member] | Continuing Operations [Member] | Operating Segments [Member]

Revenues from external customers

231

203

Cost of revenues

166

154

Selling, general and administrative expenses

Research and development expenses

Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization

Depreciation expense

Brand [Member]

Revenues from external customers

Brand [Member] | Continuing Operations [Member] | Operating Segments [Member]

Revenues from external customers

Selling, general and administrative expenses

Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization

All Other [Member]

Revenues from external customers

Depreciation expense

All Other [Member] | Continuing Operations [Member]

Earnings (Losses) Before Interest, Taxes, Depreciation and Amortization

$ 1

$ 2

[1]	Consulting and other costs are professional services and internal costs associated with corporate strategic initiatives and litigation. Consulting and other costs included $1 million of income in the nine months ended September 30, 2025 representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters.
[2]	Consists of third-party costs such as security, maintenance and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties.
[3]	As reported in the Consolidated Statement of Operations.

Note 17 - Segment Information (Details Textual)

3 Months Ended

9 Months Ended

Sep. 30, 2025

USD ($)

Sep. 30, 2024

USD ($)

Sep. 30, 2025

USD ($)

Segment

Sep. 30, 2024

USD ($)

Dec. 31, 2024

USD ($)

Number of Reportable Segments | Segment

Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]

srt:ChiefExecutiveOfficerMember

Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description

Restructuring Charges

$ 1,000,000

$ 12,000,000

$ 6,000,000

Consulting and other costs

1,000,000

Increase (Decrease) in Employee Related Liabilities

(1,000,000)

2,000,000

$ 1,000,000

Long-lived assets

^[1]

198,000,000

$ 189,000,000

BRAZIL

Long-lived assets

40,000,000

$ 40,000,000

$ 35,000,000

Selling, General and Administrative Expenses [Member]

Increase (Decrease) in Employee Related Liabilities

1,000,000

Gross Profit [Member]

Increase (Decrease) in Employee Related Liabilities

$ (1,000,000)

$ 1,000,000

Eastman Business Park Rochester N Y [Member] | Minimum [Member]

Area of Real Estate Property (Acre) | a

1,200

Print [Member]

Number of Business Lines | Segment

Advanced Materials And Chemicals [Member]

Number of Reportable Segments | Segment

[1]	Long-lived assets are comprised of property, plant and equipment, net.

Note 10 - Other Operating Income, Net (Details Textual) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Mar. 31, 2024

Sep. 30, 2024

Other Income and Expenses [Abstract]

Gain (Loss) on Disposition of Assets

$ 17

^[1]

[1]	In the first quarter of 2024, Kodak sold certain assets in the U.S. and recognized a gain of $17 million.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Note 14 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1.7	2.6	1.7	2.6
Dilutive securities excluded from computation of earnings per share, amount (in shares)	1.7		1.7
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1.5		1.6
Series C Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		1.2		1.2
Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1.0		1.0

Note 9 - Revenue (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Disaggregated Revenue by Major Produc and Geography

The following tables present revenue disaggregated by major product and geography:

Major Product:


Three Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	120	$	8	$	—	$	—	$	128
Ongoing service arrangements		38		—		—		—		38
Total annuities		158		8		—		—		166
Equipment & software		19		—		—		—		19
Film and chemicals		—		74		—		—		74
Total Core		177		82		—		—		259
Other (3)		—		—		6		4		10
Total	$	177	$	82	$	6	$	4	$	269


Nine Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	363	$	21	$	—	$	—	$	384
Ongoing service arrangements		109		—		—		—		109
Total annuities		472		21		—		—		493
Equipment & software		48		—		—		—		48
Film and chemicals		—		208		—		—		208
Total Core		520		229		—		—		749
Growth products (2)		—		2		—		—		2
Other (3)		—		—		16		12		28
Total	$	520	$	231	$	16	$	12	$	779


Three Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	126	$	7	$	—	$	—	$	133
Ongoing service arrangements		38		—		—		—		38
Total annuities		164		7		—		—		171
Equipment & software		18		—		—		—		18
Film and chemicals		—		63		—		—		63
Total Core		182		70		—		—		252
Growth products (2)		—		1		—		—		1
Other (3)		—		—		5		3		8
Total	$	182	$	71	$	5	$	3	$	261


Nine Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products (1)
Plates, inks and other consumables	$	388	$	20	$	—	$	—	$	408
Ongoing service arrangements		118		—		—		—		118
Total annuities		506		20		—		—		526
Equipment & software		44		1		—		—		45
Film and chemicals		—		179		—		—		179
Total Core		550		200		—		—		750
Growth products (2)		—		3		—		—		3
Other (3)		—		—		13		11		24
Total	$	550	$	203	$	13	$	11	$	777

(1) Core includes the Print segment and the Motion Picture and Industrial Film and Chemicals businesses within the Advanced

Materials and Chemicals segment, excluding coating and product commercialization services (“Coating Services”).

(2) Growth consists of Coating Services, Analytical Services and Advanced Materials and Functional Printing within the Advanced

Materials and Chemicals segment.

(3) Other consists of Intellectual Property Licensing ("IP Licensing") within the Advanced Materials and Chemicals segment, Brand

Licensing and Eastman Business Park.

Geography (1):


Three Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	60	$	61	$	6	$	4	$	131
Canada		7		—		—		—		7
North America		67		61		6		4		138
Europe, Middle East and Africa		70		9		—		—		79
Asia Pacific		35		11		—		—		46
Latin America		5		1		—		—		6
Total	$	177	$	82	$	6	$	4	$	269


Nine Months Ended
September 30, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	171	$	174	$	16	$	12	$	373
Canada		14		1		—		—		15
North America		185		175		16		12		388
Europe, Middle East and Africa		211		24		—		—		235
Asia Pacific		112		31		—		—		143
Latin America		12		1		—		—		13
Total	$	520	$	231	$	16	$	12	$	779


Three Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	56	$	56	$	5	$	3	$	120
Canada		4		1		—		—		5
North America		60		57		5		3		125
Europe, Middle East and Africa		74		6		—		—		80
Asia Pacific		43		8		—		—		51
Latin America		5		—		—		—		5
Total	$	182	$	71	$	5	$	3	$	261


Nine Months Ended
September 30, 2024

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	173	$	161	$	13	$	11	$	358
Canada		11		2		—		—		13
North America		184		163		13		11		371
Europe, Middle East and Africa		234		17		—		—		251
Asia Pacific		118		23		—		—		141
Latin America		14		—		—		—		14
Total	$	550	$	203	$	13	$	11	$	777

(1) Sales are reported in the geographic area in which they originate.

Consolidated Statement of Financial Position (Unaudited) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 168	$ 201
Trade receivables, net of allowances of $8 and $7, respectively	146	138
Inventories, net	236	219
Other current assets	42	37
Total current assets	592	595
Property, plant and equipment, net of accumulated depreciation of $492 and $482, respectively	198	189
Goodwill	12	12
Intangible assets, net	17	20
Operating lease right-of-use assets	37	27
Restricted cash	95	92
Pension and other postretirement assets	1,054	989
Other long-term assets	70	77
TOTAL ASSETS	2,075	2,001
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY
Accounts payable, trade	103	120
Short-term borrowings and current portion of long-term debt	497	1
Current portion of operating leases	12	11
Other current liabilities	137	129
Total current liabilities	749	261
Long-term debt, net of current portion	10	466
Pension and other postretirement liabilities	216	197
Operating leases, net of current portion	30	21
Other long-term liabilities	209	197
Total liabilities	1,214	1,142
Commitments and Contingencies (Note 7)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference	99	218
EQUITY
Common stock, $0.01 par value	1	0
Additional paid in capital	1,271	1,150
Treasury stock, at cost	(14)	(12)
Accumulated deficit	(413)	(393)
Accumulated other comprehensive loss	(83)	(104)
Total shareholders’ equity	762	641
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY	2,075	2,001
Redeemable Preferred Stock [Member]
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference	$ 99	$ 218

Note 14 - Earnings Per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 14: EARNINGS PER SHARE

Basic earnings per share are calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share calculations include any dilutive effect of potential common shares. In periods with a net loss available to common shareholders, diluted earnings per share are calculated using weighted-average basic shares for that period, as utilizing diluted shares would be anti-dilutive to loss per share.

A reconciliation of the amounts used to calculate basic and diluted (loss) earnings per share for the three and nine months ended September 30, 2025 and 2024 follows:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2025			2024			2025			2024
Net earnings (loss)	$	13		$	18		$	(20	)	$	76
Less: Series B Preferred stock cash and accrued dividends		(1	)		(1	)		(3	)		(3	)
Less: Series C Preferred stock in-kind dividends		—			(2	)		(3	)		(5	)
Less: Series C Preferred stock exchange to common stock deemed dividend		(19	)		—			(19	)		—
Less: Preferred stock deemed dividends		—			—			(1	)		(1	)
Less: Earnings attributable to Series C Preferred shareholders		—			(2	)		—			(9	)
Net (loss) earnings available to common shareholders - basic	$	(7	)	$	13		$	(46	)	$	58

Effect of dilutive securities:
Add back: Series B preferred stock cash, accrued and deemed dividends	$	—		$	1		$	—		$	4
Net (loss) earnings available to common shareholders - diluted	$	(7	)	$	14		$	(46	)	$	62


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions of shares)	2025		2024		2025		2024
Weighted averages shares - basic		89.8		80.3		83.8		80.0
Effect of dilutive securities
Unvested restricted stock units		—		1.7		—		1.6
Employee stock options		—		1.2		—		1.0
Series B Preferred Stock		—		9.5		—		9.5
Weighted average shares — diluted		89.8		92.7		83.8		92.1

As a result of the net loss available to common shareholders for the three and nine months ended September 30, 2025, Kodak calculated diluted earnings per share using weighted-average basic shares outstanding. If Kodak had reported earnings available to common shareholders for the three months ended September 30, 2025, the calculation of diluted earnings per share would have included the assumed vesting of 1.5 million unvested restricted stock units and the assumed exercise of 1.7 million stock options. For the nine months ended September 30, 2025, the calculation of diluted earnings per share would have included the assumed vesting of 1.6 million unvested restricted stock units and the assumed exercise of 1.7 million stock options.

The computation of diluted earnings per share for the three and nine months ended September 30, 2025 excluded the impact of (1) the assumed conversion of 1.0 million shares of Series B Preferred Stock and (2) the assumed exercise of 1.7 million outstanding employee stock options because the effects would have been anti-dilutive.

The computation of diluted earnings per share for the three and nine months ended September 30, 2024 excluded the impact of (1) the assumed conversion of 1.2 million shares of Series C Preferred Stock and (2) the assumed exercise of 2.6 million outstanding employee stock options because the effects would have been anti-dilutive.

Document And Entity Information - shares shares in Millions	9 Months Ended
Document And Entity Information - shares shares in Millions	Sep. 30, 2025	Oct. 31, 2025
Cover [Abstract]
Entity Central Index Key	0000031235
Entity Registrant Name	EASTMAN KODAK COMPANY
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2025
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2025
Document Transition Report	false
Entity File Number	1-00087
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	16-0417150
Entity Address, Address Line One	343 STATE STREET
Entity Address, City or Town	ROCHESTER
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14650
City Area Code	800
Local Phone Number	356-3259
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	KODK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		96.4

Note 3 - Inventories, Net

9 Months Ended

Sep. 30, 2025

Inventory Disclosure [Abstract]

Inventories, Net

NOTE 3: INVENTORIES, NET


	September 30,		December 31,
(in millions)	2025		2024
Finished goods	$	95	$	90
Work in process		77		69
Raw materials		64		60
Total	$	236	$	219

Note 16 - Other Comprehensive Income (Loss) - Changes in Other Comprehensive Income (Loss), by Component (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Statement of Other Comprehensive Income [Abstract]

Currency translation adjustments

$ (2)

$ 12

$ 11

Newly established net actuarial gain

Newly established net actuarial gain, net of tax

Amortization of prior service cost

^[1]

$ 8

Amortization of actuarial gains

^[1]

(9)

(7)

(28)

Recognition of gains due to settlements

^[1]

(1)

Total reclassification adjustments

(7)

(20)

Reclassification adjustments, net of tax

(7)

(20)

Pension and other postretirement benefit plan changes, net of tax

(7)

(20)

Other comprehensive income (loss), net of tax

$ 96

$ 5

$ 21

$ (20)

[1]	Reclassified to Total Net Periodic Benefit Cost - refer to Note 13, "Retirement Plans and Other Postretirement Benefits".

Note 18 - Financial Instruments

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Financial Instruments

NOTE 18: FINANCIAL INSTRUMENTS

Kodak, as a result of its global operating and financing activities, is exposed to changes in foreign currency exchange rates and interest rates, which may adversely affect its results of operations and financial position. Kodak manages such exposures, in part, with derivative financial instruments. Foreign currency forward contracts are used to mitigate currency risk related to foreign currency denominated assets and liabilities, as well as forecasted foreign currency denominated intercompany assets.

Kodak’s exposure to changes in interest rates results from its investing and borrowing activities used to meet its liquidity needs. Kodak does not utilize financial instruments for trading or other speculative purposes.

Kodak’s foreign currency forward contracts are not designated as hedges and are marked to market through net earnings (loss) at the same time that the exposed assets and liabilities are re-measured through net earnings (loss) (both in Other charges (income), net in the Consolidated Statement of Operations). The notional amount of such contracts open at September 30, 2025 and December 31, 2024 was approximately $221 million and $251 million, respectively. The majority of the contracts of this type held by Kodak as of September 30, 2025 and December 31, 2024 are denominated in Chinese renminbi, Japanese yen and euros.

The net effect of foreign currency forward contracts in the results of operations is shown in the following table:


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in millions)	2025		2024			2025			2024
Net loss (gain) from derivatives not designated as hedging instruments	$	2	$	(6	)	$	(3	)	$	4

Kodak had no derivatives designated as hedging instruments for the three and nine months ended September 30, 2025 and 2024.

In the event of a default under any of the Company’s credit agreements, or a default under any derivative contract or similar obligation of Kodak, subject to certain minimum thresholds, the derivative counterparties would have the right, although not the obligation, to require immediate settlement of some or all open derivative contracts at their then-current fair value, but with liability positions netted against asset positions with the same counterparty.

Fair Value

Fair values of Kodak’s foreign currency forward contracts are determined using observable inputs (Level 2 fair value measurements) and are based on the present value of expected future cash flows (an income approach valuation technique) considering the risks involved and using discount rates appropriate for the duration of the contracts. The gross fair value of foreign currency forward contracts in an asset position are reported in Other current assets and the gross fair value of foreign currency forward contracts in a liability position are reported in Other current liabilities in the Consolidated Statement of Financial Position. The gross fair value of forward contracts in an asset position as of September 30, 2025 and December 31, 2024 was less than $1 million and $0 million, respectively. The gross fair value of foreign currency forward contracts in a liability position as of September 30, 2025 and December 31, 2024 was $1 million and $3 million, respectively.

Short-term debt (Level 2 fair value measurements) includes the Term Loans at September 30, 2025 for which the fair value is determined by pricing models based on the value of related cash flows discounted at current market interest rates. The fair values of short-term borrowings were $412 million and $1 million at September 30, 2025 and December 31, 2024, respectively.

The fair values of long-term debt (Level 2 fair value measurements) are determined by reference to quoted market prices of similar instruments, if available. The fair values of long-term borrowings were $10 million and $436 million at September 30, 2025 and December 31, 2024, respectively.

The carrying values of cash and cash equivalents, restricted cash and the current portion of long-term debt approximate their fair values at both September 30, 2025 and December 31, 2024.

Transfers between levels of the fair value hierarchy are recognized based on the actual date of the event or change in circumstances that caused the transfer. There were no transfers between levels of the fair value hierarchy during the three and nine months ended September 30, 2025.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

Note 5 - Redeemable, Convertible Preferred Stock

9 Months Ended

Sep. 30, 2025

Temporary Equity [Abstract]

Redeemable, Convertible Preferred Stock

NOTE 5: REDEEMABLE, CONVERTIBLE PREFERRED STOCK

Redeemable convertible preferred stock was as follows:


	September 30,		December 31,
(in millions)	2025		2024
Series B preferred stock	$	99	$	98
Series C preferred stock		—		120
Total	$	99	$	218

Series B Preferred Stock

On February 26, 2021 the Company agreed to exchange one million shares of Series A Preferred Stock held by Southeastern Asset Management, Inc. (“Southeastern”) and Longleaf Partners Small-Cap Fund, C2W Partners Master Fund Limited and Deseret Mutual Pension Trust, which were investment funds managed by Southeastern at the time (such investment funds, collectively, the “Purchasers”), for shares of the Company’s newly created 4.0% Series B Convertible Preferred Stock, no par value (the “Series B Preferred Stock”), on a one-for-one basis plus accrued and unpaid dividends. The fair value of the Series B Preferred Stock at the time of issuance approximated $95 million. The Company has classified the Series B Preferred Stock as temporary equity in the Consolidated Statement of Financial Position. If any shares of Series B Preferred Stock have not been converted prior to May 28, 2026, the Company is required to redeem such shares at $100 per share plus the amount of accrued and unpaid dividends.

Dividend and Other Rights

The Series B Preferred Stock has a liquidation preference of $100 per share, and the holders of Series B Preferred Stock are entitled to cumulative dividends payable quarterly in cash at a rate of 4.0% per annum. Until the second quarter of 2025, all dividends owed on the Series B Preferred Stock were declared and paid when due. No quarterly cash dividends were declared in the second and third quarters of 2025. If dividends on any Series B Preferred Stock are in arrears for six or more consecutive or non-consecutive dividend periods, the holders of the Series B Preferred Stock will be entitled to nominate one director at the next annual shareholder meeting and all subsequent shareholder meetings until all accumulated dividends on such Series B Preferred Stock have been paid or set aside.

Conversion Features

Each share of Series B Preferred Stock is convertible, at the option of each holder at any time, into shares of Common Stock at the initial conversion rate of 9.5238 shares of Common Stock for each share of Series B Preferred Stock (equivalent to an initial conversion price of $10.50 per share of Common Stock). The initial conversion rate and the corresponding conversion price are subject to certain customary anti-dilution adjustments. If a holder elects to convert any shares of Series B Preferred Stock during a specified period in connection with a fundamental change (as defined in the Series B Certificate of Designations), such holder can elect to have the conversion rate adjusted and can elect to receive a cash payment in lieu of shares for a portion of the shares. Such holder will also be entitled to a payment in respect of accumulated dividends. In addition, the Company will have the right to require holders to convert any shares of Series B Preferred Stock in connection with certain reorganization events in which case the conversion rate will be adjusted, subject to certain limitations.

The Company will have the right to cause the mandatory conversion of the Series B Preferred Stock into shares of Common Stock at any time after the initial issuance of the Series B Preferred Stock if the closing price of the Common Stock has equaled or exceeded $14.50 (subject to adjustment in the same manner as the conversion price) for 45 trading days within a period of 60 consecutive trading days.

Embedded Conversion Features

The Company concluded that the Series B Preferred Stock is more akin to a debt-type instrument and that the economic characteristics and risks of the conversion option upon a fundamental change by the holder is not considered clearly and closely related to the Series B Preferred Stock. Accordingly, this embedded conversion feature was bifurcated from the Series B Preferred Stock and separately accounted for as a derivative. The Company allocated $1 million of the net proceeds received to the derivative liability based on the aggregate fair value of the embedded conversion features on the dates of issuance which reduced the original carrying value of the Series B Preferred Stock.

The conversion option upon a fundamental change embedded derivative value at issuance was calculated as the difference between the total value of the Series B Preferred Stock and the sum of the net present value of the cash flows if the Series B Preferred Stock is redeemed on its redemption date and the values of other embedded derivatives. Other than events which alter the likelihood of a fundamental change, the value of the conversion option upon a fundamental change embedded derivative reflects the value as of the issuance date, amortized for the passage of time. The derivative amortization is reported in Other charges (income), net in the Consolidated Statement of Operations.

The carrying value of the Series B Preferred Stock embedded derivative as of both September 30, 2025 and December 31, 2024 was a liability of less than $1 million and is included in Other current liabilities at September 30, 2025 and in Other long-term liabilities at December 31, 2024 in the accompanying Consolidated Statement of Financial Position.

The carrying value of the Series B Preferred Stock is being accreted to the mandatory redemption amount using the effective interest method to Additional paid in capital in the Consolidated Statement of Financial Position as a deemed dividend from the date of issuance through the mandatory redemption date, May 28, 2026.

Series C Preferred Stock

On February 26, 2021, the Company and GO EK Ventures IV, LLC (the “Investor”) entered into a Series C Preferred Stock Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company agreed to sell to the Investor, and the Investor agreed to purchase from the Company, an aggregate of 1,000,000 shares of the Company’s newly created 5.0% Series C Convertible Preferred Stock, no par value per share (the “Series C Preferred Stock”), for a purchase price of $100 per share, representing $100 million of gross proceeds to the Company. The Investor is a fund managed by Grand Oaks Capital. The Company classified the Series C Preferred Stock as temporary equity in the Consolidated Statement of Financial Position. If any shares of Series C Preferred Stock had not been converted prior to May 28, 2026, the Company would have been required to redeem such shares at $100 per share plus the amount of accrued and unpaid dividends thereon; provided that the holders of the Series C Preferred Stock had the right to extend such redemption date by up to two years.

Conversion Features

Each share of Series C Preferred Stock was convertible, at the option of each holder at any time, into shares of Common Stock at the initial conversion price of $10 per share of Common Stock. The initial conversion price and the corresponding conversion rate were subject to certain customary anti-dilution adjustments and to proportional increase in the event the liquidation preference of the Series C Preferred Stock was automatically increased. If a holder elected to convert any shares of Series C Preferred Stock during a specified period in connection with a fundamental change (as defined in the Series C Certificate of Designations), such holder could have elected to have the conversion rate adjusted and could have elected to receive a cash payment in lieu of shares for a portion of the shares of Common Stock. Such holder would have also be entitled to a payment in respect of accumulated dividends and a payment based on the present value of all required remaining dividend payments through May 28, 2026, the mandatory redemption date. Such additional payments would have been payable at the Company’s option in cash or in additional shares of Common Stock. In addition, the Company had the right to require holders to convert any shares of Series C Preferred Stock in connection with certain reorganization events in which case the conversion rate would have been adjusted, subject to certain limitations.

The Company had the right to cause the mandatory conversion of the Series C Preferred Stock into shares of Common Stock (i) at any time after February 26, 2023 if the closing price of the Common Stock had equaled or exceeded 200% of the then-effective conversion price for 45 trading days within a period of 60 consecutive trading days, or (ii) at any time after February 26, 2024 if the closing price of the Common Stock had equaled or exceeded 150% of the then-effective conversion price for 45 trading days within a period of 60 consecutive trading days.

Dividend and Other Rights

The Series C Preferred Stock had a liquidation preference of $100 per share, and the holders of Series C Preferred Stock were entitled to cumulative dividends payable quarterly “in‐kind” in the form of additional shares of Series C Preferred Stock at a rate of 5.0% per annum. All dividends owed on the Series C Preferred Stock had been declared and additional Series C shares were issued when due. Holders of the Series C Preferred Stock were also entitled to participate in any dividends paid on the Common Stock (other than stock dividends) on an as-converted basis, with such dividends on any shares of the Series C Preferred Stock being payable upon conversion of such shares of Series C Preferred Stock to Common Stock.

Embedded Conversion Features

The Company concluded that the Series C Preferred Stock was more akin to a debt-type instrument and that the economic characteristics and risks of the conversion option upon a fundamental change by the holder was not considered clearly and closely related to the Series C Preferred Stock. Accordingly, this embedded conversion feature was bifurcated from the Series C Preferred Stock and separately accounted for as a derivative. The Company allocated $2 million of the net proceeds received to the derivative liability based on the aggregate fair value of the embedded conversion features on the dates of issuance which reduced the original carrying value of the Series C Preferred Stock.

The conversion option upon a fundamental change embedded derivative value at issuance was calculated as the difference between the total value of the Series C Preferred Stock and the sum of the net present value of the cash flows if the Series C Preferred Stock had been redeemed on its redemption date and the values of other embedded derivatives. Other than events which alter the likelihood of a fundamental change, the value of the conversion option upon a fundamental change embedded derivative reflected the value as of the issuance date, amortized for the passage of time. The derivative amortization had been reported in Other charges (income), net in the Consolidated Statement of Operations. At the time of the Series C Preferred Stock Exchange, (as defined below), the remaining liability of less than $1 million was written off.

The carrying value of the Series C Preferred Stock embedded derivative both at the time of the Series C Preferred Stock Exchange and as of December 31, 2024, was a liability of less than $1 million and was included in Other long-term liabilities in the accompanying Consolidated Statement of Financial Position.

The carrying value of the Series C Preferred Stock was being accreted to the mandatory redemption amount using the effective interest method to Additional paid in capital in the Consolidated Statement of Financial Position as a deemed dividend from the date of issuance through the mandatory redemption date, May 28, 2026.

Series C Preferred Stock Exchange

On August 8, 2025, the Company and the Investor entered into a Series C Preferred Stock Exchange Agreement (the “Series C Exchange Agreement”) pursuant to which the Investor agreed to exchange (the “Series C Preferred Stock Exchange”) 1,241,871 shares of the Company’s Series C Preferred Stock, held by the Investor (such shares, the “Series C Exchange Shares”), which represented all of the outstanding shares of the Company’s Series C Preferred Stock, for a number of shares of the Company’s common stock equal to the aggregate liquidation preference of the Series C Exchange Shares of $124,187,100 plus any accrued and unpaid dividends thereon, at an exchange rate of $8.25 per share.

The Series C Preferred Stock Exchange was consummated on August 8, 2025 (the "Exchange Date"), in connection with which the Company issued 15,103,163 shares of Common Stock to the Investor in exchange for the Series C Exchange Shares and the accrued and unpaid dividends thereon in accordance with the terms of the Series C Exchange Agreement. The carrying value of the Series C Preferred Stock as of the Exchange Date approximated $123 million. The fair value of the common stock issued approximated $106 million, which exceeded the fair value of common stock issuable pursuant to the conversion terms of the Purchase Agreement by $19 million. This amount was recorded as a deemed dividend to Additional paid in capital in the Consolidated Statement of Financial Position. Following the completion of the exchange, the Company’s obligations with respect to the Series C Preferred Stock were fully discharged.

As a result of the Series C Preferred Stock Exchange the Investor’s voting power increased from 12.9% as of December 31, 2024 to 15.7% following the Series C Preferred Stock Exchange. In addition, in connection with the Series C Preferred Stock Exchange the Investor was granted the right to nominate one member for election to the Company’s Board for so long as it holds at least 10% of the outstanding shares of common stock of the Company. In connection with the Series C Preferred Stock Exchange, the Company entered into an Amended and Restated Registration Rights Agreement that provides customary registration rights with respect to the shares of common stock issued in the Series C Preferred Stock Exchange.