0001193125-26-212026 | 10-Q | XBRL Viewer

NOTE 11: REVENUE

Disaggregation of Revenue

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

Major Product:


Three Months Ended
March 31, 2026

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products and services (1)
Plates, inks and other consumables	$	125	$	6	$	—	$	—	$	131
Ongoing service arrangements		34		—		—		—		34
Total annuities		159		6		—		—		165
Equipment & software		21		—		—		—		21
Film and chemicals		—		69		—		—		69
Total core products and services		180		75		—		—		255
Growth products (2)		—		1		—		—		1
Other (3)		—		—		6		3		9
Total	$	180	$	76	$	6	$	3	$	265


Three Months Ended
March 31, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products and services (1)
Plates, inks and other consumables	$	114	$	7	$	—	$	—	$	121
Ongoing service arrangements		36		—		—		—		36
Total annuities		150		7		—		—		157
Equipment & software		15		—		—		—		15
Film and chemicals		—		66		—		—		66
Total core products and services		165		73		—		—		238
Growth products (2)		—		1		—		—		1
Other (3)		—		—		4		4		8
Total	$	165	$	74	$	4	$	4	$	247

(1)

Core products and services 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 products consist 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
March 31, 2026

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	67	$	58	$	6	$	3	$	134
Canada		3		1		—		—		4
North America		70		59		6		3		138
Europe, Middle East and Africa		67		8		—		—		75
Asia Pacific		40		9		—		—		49
Latin America		3		—		—		—		3
Total	$	180	$	76	$	6	$	3	$	265


Three Months Ended
March 31, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	52	$	59	$	4	$	4	$	119
Canada		3		—		—		—		3
North America		55		59		4		4		122
Europe, Middle East and Africa		68		7		—		—		75
Asia Pacific		38		8		—		—		46
Latin America		4		—		—		—		4
Total	$	165	$	74	$	4	$	4	$	247

(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 amounts recorded for contract assets at both March 31, 2026 and December 31, 2025 was $5 million and is 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 amounts recorded for contract liabilities in the Consolidated Statement of Financial Position at March 31, 2026 and December 31, 2025 was $91 million and $94 million, respectively, of which $41 million and $42 million, respectively, was reported in Other current liabilities and $50 million and $52 million, respectively, was reported in Other long-term liabilities.

Revenue recognized for the three months ended March 31, 2026 and 2025 that was included in the contract liability balance at the beginning of the respective fiscal years was $27 million and $19 million, respectively, and primarily represented revenue from prepaid service contracts and equipment sales. Contract liabilities included $23 million and $18 million of cash payments received during the three months ended March 31, 2026 and 2025, 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 March 31, 2026, there was approximately $80 million of unrecognized revenue from unsatisfied performance obligations. Approximately 15% of the revenue from unsatisfied performance obligations is expected to be recognized in the remainder of 2026, 15% in 2027, 10% in each of 2028 and 2029 and 50% thereafter.

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.

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Cash and Cash Equivalents [Abstract]

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

3 Months Ended

Mar. 31, 2026

Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash


	March 31,		December 31,
(in millions)	2026		2025
Cash and cash equivalents	$	299	$	337
Restricted cash reported in Other current assets		8		9
Restricted cash		92		96
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	399	$	442

Note 11 - Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Disaggregated Revenue by Major Produc and Geography


Three Months Ended
March 31, 2026

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products and services (1)
Plates, inks and other consumables	$	125	$	6	$	—	$	—	$	131
Ongoing service arrangements		34		—		—		—		34
Total annuities		159		6		—		—		165
Equipment & software		21		—		—		—		21
Film and chemicals		—		69		—		—		69
Total core products and services		180		75		—		—		255
Growth products (2)		—		1		—		—		1
Other (3)		—		—		6		3		9
Total	$	180	$	76	$	6	$	3	$	265


Three Months Ended
March 31, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
Core products and services (1)
Plates, inks and other consumables	$	114	$	7	$	—	$	—	$	121
Ongoing service arrangements		36		—		—		—		36
Total annuities		150		7		—		—		157
Equipment & software		15		—		—		—		15
Film and chemicals		—		66		—		—		66
Total core products and services		165		73		—		—		238
Growth products (2)		—		1		—		—		1
Other (3)		—		—		4		4		8
Total	$	165	$	74	$	4	$	4	$	247

(1)

(2)

Growth products consist 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.


Three Months Ended
March 31, 2026

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	67	$	58	$	6	$	3	$	134
Canada		3		1		—		—		4
North America		70		59		6		3		138
Europe, Middle East and Africa		67		8		—		—		75
Asia Pacific		40		9		—		—		49
Latin America		3		—		—		—		3
Total	$	180	$	76	$	6	$	3	$	265


Three Months Ended
March 31, 2025

			Advanced
			Materials
			and
(in millions)	Print		Chemicals		Brand		All Other		Total
United States	$	52	$	59	$	4	$	4	$	119
Canada		3		—		—		—		3
North America		55		59		4		4		122
Europe, Middle East and Africa		68		7		—		—		75
Asia Pacific		38		8		—		—		46
Latin America		4		—		—		—		4
Total	$	165	$	74	$	4	$	4	$	247

(1)

Sales are reported in the geographic area in which they originate.

Note 8 - Leases - Summary of Income Recognized on Lease Arrangements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Leases [Abstract]
Lease income	$ 2	$ 2
Variable lease income	2	2
Total lease income	$ 4	$ 4

Note 2 - Cash, Cash Equivalents and Restricted Cash - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 299	$ 337
Restricted cash reported in Other current assets	8	9
Restricted cash	92	96
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$ 399	$ 442	$ 256	$ 301

Note 7 - Redeemable, Convertible Preferred Stock - Schedule of Redeemable, Convertible Preferred Stock (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
6.0% Series B Preferred Stock [Member]
Redeemable, convertible preferred stock	$ 72	$ 0
4.0% Series B Preferred Stock [Member]
Redeemable, convertible preferred stock	$ 0	$ 99

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.

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Consolidated Statement of Financial Position (Unaudited) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 299	$ 337
Trade receivables, net of allowances of $7 at both periods	135	145
Inventories, net	255	218
Other current assets	104	141
Total current assets	793	841
Property, plant and equipment, net of accumulated depreciation of $502 and $499, respectively	195	191
Goodwill	12	12
Intangible assets, net	17	17
Operating lease right-of-use assets	35	37
Restricted cash	92	96
Pension and other postretirement assets	303	302
Other long-term assets	110	121
TOTAL ASSETS	1,557	1,617
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY
Accounts payable, trade	111	101
Short-term borrowings and current portion of long-term debt	52	1
Current portion of operating leases	11	11
Other current liabilities	140	155
Total current liabilities	314	268
Long-term debt, net of current portion	108	208
Pension and other postretirement liabilities	187	191
Operating leases, net of current portion	27	30
Other long-term liabilities	249	207
Total liabilities	885	904
Commitments and Contingencies (Note 9)
EQUITY
Common stock, $0.01 par value	1	1
Additional paid in capital	1,280	1,278
Treasury stock, at cost	(27)	(26)
Accumulated deficit	(537)	(521)
Accumulated other comprehensive loss	(117)	(118)
Total shareholders’ equity	600	614
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY	1,557	1,617
Redeemable Preferred Stock [Member]
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference	$ 72	$ 99

Note 18 - Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

^[1]

$ 265

$ 247

Cost of revenues

208

201

Research and development expenses

Depreciation and amortization

(7)

Restructuring costs and other

(5)

Consulting and other costs

Other operating expense, net

(2)

Interest expense

(6)

(14)

Pension income excluding service cost component

Consolidated loss from continuing operations before income taxes

(1)

Other charges, net

(9)

(13)

(5)

Continuing Operations [Member]

Total Operational EBITDA for Reportable Segments

Depreciation and amortization

(7)

Restructuring costs and other

(5)

Stock-based compensation

(5)

(2)

Consulting and other costs

^[2]

Idle costs

^[3]

(1)

Other operating expense, net

^[4]

(2)

Interest expense

^[4]

(6)

(14)

Pension income excluding service cost component

^[4]

Consolidated loss from continuing operations before income taxes

^[4]

(1)

Other charges, net

^[4]

(9)

(13)

(5)

Amortization of Intangible Assets

Depreciation expense

Print [Member]

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

^[1]

180

165

180

165

Cost of revenues

143

137

Research and development expenses

Operational EBITDA

(9)

Amortization of Intangible Assets

Depreciation expense

Advanced Materials And Chemicals [Member]

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

^[1]

Cost of revenues

Research and development expenses

Operational EBITDA

Depreciation expense

Brand [Member]

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

^[1]

Operational EBITDA

All Other [Member]

All Other [Member] | Continuing Operations [Member]

^[1]

All Other Operational EBITDA

$ (2)

$ 0

[1]	Sales are reported in the geographic area in which they originate.
[2]	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 three months ended March 31, 2026, representing insurance reimbursement of legal costs previously paid by the Company associated with investigations and litigation matters.
[3]	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.
[4]	As reported in the Consolidated Statement of Operations.

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

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

^[1]

$ 265

$ 247

Core [Member]

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

^[2]

255

238

Ongoing Service Arrangements [Member] | Core [Member]

^[2]

131

121

Annuities [Member] | Core [Member]

^[2]

Equipment and Software [Member] | Core [Member]

^[2]

165

157

Film and Chemicals [Member] | Core [Member]

^[2]

^[2]

Growth Products [Member]

^[3]

^[4]

^[1]

134

119

CANADA

^[1]

North America [Member]

^[1]

138

122

EMEA [Member]

^[1]

Asia Pacific [Member]

^[1]

Latin America [Member]

^[1]

Print [Member]

Print [Member] | Core [Member]

^[1]

180

165

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

^[2]

180

165

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

^[2]

125

114

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

^[2]

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

^[2]

159

150

Print [Member] | Film and Chemicals [Member] | Core [Member]

^[2]

Print [Member] | Growth Products [Member]

^[2]

Print [Member] | Other [Member]

^[3]

Print [Member] | UNITED STATES

^[4]

^[1]

Print [Member] | CANADA

Print [Member] | North America [Member]

^[1]

Print [Member] | EMEA [Member]

^[1]

Print [Member] | Asia Pacific [Member]

^[1]

Print [Member] | Latin America [Member]

^[1]

Advanced Materials And Chemicals [Member]

^[1]

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

^[1]

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

^[2]

Advanced Materials And Chemicals [Member] | Ongoing Service Arrangements [Member] | Core [Member]

^[2]

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

^[2]

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

^[2]

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

^[2]

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

^[2]

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

^[3]

Advanced Materials And Chemicals [Member] | UNITED STATES

^[4]

Advanced Materials And Chemicals [Member] | CANADA

^[1]

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

^[1]

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

^[1]

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

^[1]

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

^[1]

^[1]

Brand [Member]

Brand [Member] | Core [Member]

^[1]

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

^[2]

Brand [Member] | Ongoing Service Arrangements [Member]

^[2]

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

^[2]

Brand [Member] | Annuities [Member]

^[2]

Brand [Member] | Annuities [Member] | Core [Member]

^[2]

Brand [Member] | Equipment and Software [Member]

^[2]

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

^[2]

Brand [Member] | Film and Chemicals [Member]

^[2]

Brand [Member] | Film and Chemicals [Member] | Core [Member]

^[2]

Brand [Member] | Other [Member]

^[2]

Brand [Member] | UNITED STATES

^[4]

^[1]

Brand [Member] | CANADA

Brand [Member] | North America [Member]

^[1]

Brand [Member] | EMEA [Member]

^[1]

Brand [Member] | Asia Pacific [Member]

^[1]

Brand [Member] | Latin America [Member]

^[1]

^[1]

All Other [Member]

All Other [Member] | Core [Member]

^[1]

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

^[2]

All Other [Member] | Ongoing Service Arrangements [Member]

^[2]

All Other [Member] | Ongoing Service Arrangements [Member] | Core [Member]

^[2]

All Other [Member] | Annuities [Member]

^[2]

All Other [Member] | Annuities [Member] | Core [Member]

^[2]

All Other [Member] | Equipment and Software [Member]

^[2]

All Other [Member] | Equipment and Software [Member] | Core [Member]

^[2]

All Other [Member] | Film and Chemicals [Member]

^[2]

All Other [Member] | Film and Chemicals [Member] | Core [Member]

^[2]

All Other [Member] | Other [Member]

^[2]

All Other [Member] | UNITED STATES

^[4]

All Other [Member] | CANADA

^[1]

All Other [Member] | North America [Member]

^[1]

All Other [Member] | EMEA [Member]

^[1]

All Other [Member] | Asia Pacific [Member]

^[1]

All Other [Member] | Latin America [Member]

^[1]

$ 0

^[1]

$ 0

[1]	Sales are reported in the geographic area in which they originate.
[2]	Core products and services 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”).
[3]	Growth products consist of Coating Services, Analytical Services and Advanced Materials and Functional Printing within the Advanced Materials and Chemicals segment.
[4]	Other consists of Intellectual Property Licensing ("IP Licensing") within the Advanced Materials and Chemicals segment, Brand Licensing and Eastman Business Park.

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

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Total revenues

^[1]

$ 265

$ 247

Cost of revenues

Total cost of revenues

208

201

Gross profit

Research and development costs

Restructuring costs and other

Other operating income, net

Loss from operations before interest expense, pension income excluding service cost component, loss on early extinguishment of debt, other charges, net and income taxes

(1)

(13)

Interest expense

Pension income excluding service cost component

(4)

(22)

Loss from operations before income taxes

Other charges, net

(13)

(5)

Provision for income taxes

NET LOSS

$ (16)

$ (7)

Basic net loss per share attributable to Eastman Kodak Company common shareholders

$ (0.21)

$ (0.12)

Diluted net loss per share attributable to Eastman Kodak Company common shareholders

$ (0.21)

$ (0.12)

Number of common shares used in basic and diluted net loss per share

Basic (in shares)

97.5

80.6

Diluted (in shares)

97.5

80.6

Product [Member]

Total revenues

$ 229

$ 210

Cost of revenues

Total cost of revenues

185

174

Service [Member]

Total revenues

Cost of revenues

Total cost of revenues

$ 23

$ 27

[1]	Sales are reported in the geographic area in which they originate.

Note 4 - Other Current Assets (Details Textual)	Mar. 31, 2026
Maximum
Other Current Assets [Line Items]
Percentage of current assets	5.00%

Note 18 - Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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


	Three Months Ended
	March 31,
	2026			2025
(in millions)
Print:
Revenues from external customers	$	180		$	165
Cost of revenues		143			137
Selling, general and administrative expenses		31			33
Research and development expenses		3			4
Operational EBITDA		3			(9	)

Advanced Materials and Chemicals:
Revenues from external customers		76			74
Cost of revenues		56			55
Selling, general and administrative expenses		10			9
Research and development expenses		3			3
Operational EBITDA		7			7

Brand:
Revenues from external customers		6			4
Selling, general and administrative expenses		1			—
Operational EBITDA		5			4

Total Operational EBITDA for Reportable Segments		15			2
All Other Operational EBITDA		(2	)		—
Depreciation and amortization		(7	)		(7	)
Restructuring costs and other		—			(5	)
Stock-based compensation		(5	)		(2	)
Consulting and other costs (1)		1			—
Idle costs (2)		(1	)		(1	)
Other operating expense, net (3)		(2	)		—
Interest expense (3)		(6	)		(14	)
Pension income excluding service cost component (3)		4			22
Loss on early extinguishment of debt (3)		(1	)		—
Other charges, net (3)		(9	)		—
Consolidated loss from continuing operations before income taxes	$	(13	)	$	(5	)

(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 three months ended March 31, 2026, 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
(in millions)	March 31,
Intangible asset amortization expense from continuing operations:	2026		2025
Print	$	-	$	1
Total	$	-	$	1


	Three Months Ended
(in millions)	March 31,
Depreciation expense from continuing operations:	2026		2025
Print	$	3	$	4
Advanced Materials and Chemicals		4		2
Total	$	7	$	6

Schedule of Reconciliation of Reportable Segment Revenues

A reconciliation of reportable segment revenues to consolidated revenues follows:


	Three Months Ended
	March 31,
(in millions)	2026		2025
Total Reportable Segment Revenues	$	262	$	243
All Other Revenues		3		4
Total Consolidated Revenues	$	265	$	247

Long Lived Assets by Geographical Areas


(in millions)	March 31,		December 31,
Long-lived assets located in: (1)	2026		2025
The United States	$	144	$	142
Europe, Middle East and Africa		5		5
Asia Pacific		3		4
Canada and Latin America		43		40
Non-U.S. countries total (2)		51		49
Total	$	195	$	191

(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 March 31, 2026, $41 million was located in Brazil. Of the total

non-U.S. property, plant and equipment as of December 31, 2025, $39 million was located in Brazil.

Note 8 - Leases (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Summary of Income Recognized on Lease Arrangements


	Three Months Ended
	March 31,
(in millions)	2026		2025
Lease income - operating leases:
Lease income	$	2	$	2
Variable lease income		2		2
Total lease income	$	4	$	4

Note 7 - Redeemable, Convertible Preferred Stock (Tables)

3 Months Ended

Mar. 31, 2026

Temporary Equity [Abstract]

Schedule of Redeemable, Convertible Preferred Stock


	March 31,		December 31,
(in millions)	2026		2025
6.0% Series B Preferred Stock	$	72	$	-
4.0% Series B Preferred Stock	$	-	$	99

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

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Pay vs Performance Disclosure
Net Income (Loss)	$ (16)	$ (7)

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

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Note 19 - Financial Instruments

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Financial Instruments

NOTE 19: FINANCIAL INSTRUMENTS

Kodak, as a result of its global operating and financing activities, is exposed to changes in foreign currency exchange rates, commodity pricing 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 loss at the same time that the exposed assets and liabilities are re-measured through net loss (both in Other charges, net in the Consolidated Statement of Operations). The notional amount of such contracts open at March 31, 2026 and December 31, 2025 was approximately $190 million and $224 million, respectively. The majority of the contracts of this type held by Kodak as of March 31, 2026 are denominated in Chinese renminbi and Japanese yen and as of December 31, 2025 were denominated in Chinese renminbi, Japanese yen and European euros.

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


	Three Months Ended
	March 31,
(in millions)	2026		2025
Net loss (gain) from derivatives not designated as hedging instruments	$	2	$	(1	)

Kodak had no derivatives designated as hedging instruments for the three months ended March 31, 2026 and 2025.

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 March 31, 2026 and December 31, 2025 was zero and less than $1 million, respectively. The gross fair value of foreign currency forward contracts in a liability position as of March 31, 2026 and December 31, 2025 was $2 million and less than $1 million, 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, or by pricing models based on the value of related cash flows discounted at current market interest rates. The fair values of long-term borrowings were $100 million and $151 million at March 31, 2026 and December 31, 2025, 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 March 31, 2026 and December 31, 2025.

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 months ended March 31, 2026.

As disclosed in Note 7, “Redeemable, Convertible Preferred Stock”, the embedded conversion options were bifurcated from the 6.0% Series B Preferred Stock and are accounted for on a combined basis as a single derivative liability. The fair value of these embedded conversion options is determined using significant unobservable inputs (Level 3 fair value measurements). The Company estimates the fair value of each embedded conversion option using a binomial lattice model, and the combined fair value is recorded as a derivative liability.

The following table presents the key inputs used in the determination of fair value for the embedded conversion options:


	Valuation Date
	March 31,			March 11,
	2026			2026
Total value of embedded derivative ($ millions)	$	42		$	30
Kodak's closing stock price	$	9.05		$	6.95
Expected stock price volatility		66.50	%		65.00	%
Risk free rate		3.82	%		3.71	%
Implied yield on preferred stock		19.15	%		18.48	%

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.

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Asset retirement obligations

Consolidated Statement of Equity (Deficit) (Unaudited) - USD ($) $ 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, 2024	$ 641		$ 1,150	$ (393)	$ (104)	$ (12)	$ 218
Net loss	(7)			(7)
Currency translation adjustments	6				6
Pension and other postretirement liability adjustments	(75)				(75)
Preferred stock cash dividends	(1)		(1)
Preferred stock in-kind dividends	(2)		(2)				2
Preferred stock deemed dividends	(1)		0				0
Treasury stock purchases						(1)
Stock-based compensation	2		2
Balance at Mar. 31, 2025	563		1,149	(400)	(173)	(13)	220
Balance at Dec. 31, 2025	614	$ 1	1,278	(521)	(118)	(26)	99
Net loss	(16)			(16)
Currency translation adjustments	1				1
Extinguishment of 4.0% Series B preferred stock	100		100				(100)
Issuance of 6.0% Series B preferred stock	(102)		(102)				72
Preferred stock cash dividends	(1)		(1)
Preferred stock deemed dividends	(1)		(1)				1
Treasury stock purchases			1			(1)
Stock-based compensation	5		5
Balance at Mar. 31, 2026	$ 600	$ 1	$ 1,280	$ (537)	$ (117)	$ (27)	$ 72

Note 5 - Other Long-term Liabilities - Summary of Other Long-Term Liabilities (Details) - USD ($)
$ in Millions

Mar. 31, 2026

Mar. 11, 2026

Dec. 31, 2025

Payables and Accruals [Abstract]

Workers' compensation

$ 50

$ 51

Deferred taxes

Deferred brand licensing revenue

Environmental liabilities

Embedded preferred stock derivative liability

^[1]

$ 30

Other

Total

$ 249

$ 207

[1]	Refer to Note 7, "Redeemable Convertible Preferred Stock" for additional details and Note 19, "Financial Instruments" for valuation of this derivative.

Note 5 - Other Long-term Liabilities

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Other Long-term Liabilities

NOTE 5: OTHER LONG-TERM LIABILITIES


	March 31,		December 31,
(in millions)	2026		2025
Workers' compensation	$	50	$	51
Asset retirement obligations		44		44
Deferred taxes		29		28
Deferred brand licensing revenue		50		52
Environmental liabilities		9		9
Embedded preferred stock derivative liability (1)		42		—
Other		25		23
Total	$	249	$	207

(1)

Refer to Note 7, "Redeemable Convertible Preferred Stock" for additional details and Note 19, "Financial Instruments" for valuation of this derivative.

The Other component above consists of other miscellaneous long-term liabilities that, individually, were less than 5% of the total liabilities component in the accompanying Consolidated Statement of Financial Position, and therefore have been aggregated in accordance with Regulation S-X.

Note 2 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Cash Collateralized Letter Of Credit Facility [Member]
Cash and Cash Equivalents [Line Items]
Restricted Cash and Investments, Noncurrent	$ 26	$ 25
Cash Collateralized for Workers Compensation Obligations [Member]
Cash and Cash Equivalents [Line Items]
Restricted Cash and Investments, Noncurrent	57	62
BRAZIL
Cash and Cash Equivalents [Line Items]
Restricted Cash and Investments, Noncurrent	$ 7	$ 7

Note 19 - Financial Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Net loss (gain) from derivatives not designated as hedging instruments	$ 2	$ (1)

Note 5 - Other Long-term Liabilities (Details Textual)	Mar. 31, 2026
Maximum [Member]
Other Long-term Liabilities [Line Items]
Percentage of non current liabilities	5.00%

Note 3 - Inventories, Net - Schedule of Current Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Inventory Disclosure [Abstract]
Finished goods	$ 91	$ 84
Work in process	87	72
Raw materials	77	62
Total	$ 255	$ 218

Note 15 - Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Net loss	$ (16)	$ (7)
Less: Series B Preferred stock cash dividends	(1)	(1)
Less: Series C Preferred stock in-kind dividends		(2)
Less: Preferred stock deemed dividends	(1)
Less: Deemed dividend on preferred stock amendment	(2)
Net loss available to common shareholders - basic	$ (20)	$ (10)
Weighted average shares — basic (in shares)	97.5	80.6
Weighted average shares — diluted (in shares)	97.5	80.6

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

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Segment Reporting, Revenue Reconciling Item [Line Items]

Note 18 - Segment Information - Schedule of Reconciliation of Reportable Segment Revenues (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Total Consolidated Revenues

^[1]

$ 265

$ 247

Total Reportable Segment Revenues

Segment Reporting, Revenue Reconciling Item [Line Items]

Total Consolidated Revenues

262

243

All Other Revenues

Segment Reporting, Revenue Reconciling Item [Line Items]

Total Consolidated Revenues

$ 3

$ 4

[1]	Sales are reported in the geographic area in which they originate.

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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Note 10 - Guarantees

3 Months Ended

Mar. 31, 2026

Guarantees [Abstract]

Guarantees

NOTE 10: 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, 2025 to March 31, 2026, 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, 2025	$	14
New extended warranty and maintenance arrangements deferred		15
Recognition of extended warranty and maintenance arrangement revenue		(14	)
Deferred revenue on extended warranties as of March 31, 2026	$	15

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.

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Preferred Stock, No Par Value (in dollars per share) | $ / shares

Note 8 - Leases

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Leases

NOTE 8: LEASES

Income recognized on operating lease arrangements for the three months ended March 31, 2026 and 2025 is presented below. Income recognized for sales-type lease arrangements for the three months ended March 31, 2026 and 2025 was $1 million and less than $1 million, respectively.


	Three Months Ended
	March 31,
(in millions)	2026		2025
Lease income - operating leases:
Lease income	$	2	$	2
Variable lease income		2		2
Total lease income	$	4	$	4

Note 7 - Redeemable, Convertible Preferred Stock (Details Textual)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Mar. 11, 2026

USD ($)

Days

$ / shares

Dec. 05, 2025

Feb. 26, 2021

USD ($)

$ / shares

Feb. 25, 2021

$ / shares

Mar. 31, 2026

USD ($)

$ / shares

Mar. 31, 2025

USD ($)

Dec. 31, 2025

$ / shares

Dec. 31, 2021

USD ($)

$ 0

Deemed dividend

$ 1

Embedded Derivative, Carrying Value of Embedded Derivative Liability

$ 30

^[1]

Temporary equity, accretion to redemption value

$ 102

Common stock, par value (in dollars per share) | $ / shares

$ 0.01

4.0% Series B Preferred Stock [Member]

Preferred Stock, No Par Value (in dollars per share) | $ / shares

4.00%

$ 0

Temporary Equity, Fair Value of Preferred Stock at Issuance

$ 95

Derivative Liability, Subject to Master Netting Arrangement, before Offset

Temporary Equity Issuance Of Redeemable Convertible Preferred Stock Net Of Offering Costs And Derivative Liability

$ 93

Temporary Equity, Liquidation Preference Per Share (in dollars per share) | $ / shares

$ 100

4.0% Series B Preferred Stock [Member] | Other Noncurrent Liabilities [Member]

Embedded Derivative, Carrying Value of Embedded Derivative Liability

$ 1

6.0% Series B Preferred Stock [Member]

Preferred Stock, Conversion Ratio

6.00%

0.33

Preferred Stock, No Par Value (in dollars per share) | $ / shares

$ 0

Temporary Equity, Fair Value of Preferred Stock at Issuance

$ 102

Deemed dividend

$ 2

Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ / shares

$ 10

Embedded Derivative, Carrying Value of Embedded Derivative Liability

$ 30

Temporary equity, accretion to redemption value

$ 72

Preferred Stock, Redemption Price Per Share (in dollars per share) | $ / shares

$ 100

Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | shares

Beneficial ownership limitation percentage

4.99%

6.0% Series B Preferred Stock [Member] | Other Noncurrent Liabilities [Member]

Embedded Derivative, Carrying Value of Embedded Derivative Liability

$ 42

6.0% Series B Preferred Stock [Member] | After Eighteen Months from Amendment Date [Member]

Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) | $ / shares

$ 14.5

6.0% Series B Preferred Stock [Member] | After Twenty Four Months From Amendment Date [Member]

Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) | $ / shares

15.5

6.0% Series B Preferred Stock [Member] | After Thirty Months From Amendment Date [Member]

Debt Instrument, Convertible, Stock Price Trigger (in dollars per share) | $ / shares

$ 16.5

6.0% Series B Preferred Stock [Member] | Minimum [Member]

Debt Instrument, Convertible, Threshold Trading Days | Days

6.0% Series B Preferred Stock [Member] | Maximum [Member]

Debt Instrument, Convertible, Threshold Trading Days | Days

Series B Preferred Stock [Member]

Purchase Agreement [Member] | 4.0% Series B Preferred Stock [Member]

6.00%

4.00%

Temporary Equity, Fair Value of Preferred Stock at Issuance

$ 95

Dividend And Other Rights [Member]

Common stock, par value (in dollars per share) | $ / shares

$ 0.01

Dividend And Other Rights [Member] | 6.0% Series B Preferred Stock [Member]

Temporary Equity, Liquidation Preference Per Share (in dollars per share) | $ / shares

6.00%

$ 100

KL Funds [Member] | 4.0% Series B Preferred Stock [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

4.00%

[1]	Refer to Note 7, "Redeemable Convertible Preferred Stock" for additional details and Note 19, "Financial Instruments" for valuation of this derivative.

Note 13 - Income Taxes (Details Textual)	3 Months Ended
Note 13 - Income Taxes (Details Textual)	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%

Note 19 - Financial Instruments - Summary of Key Inputs Used in Determination of Fair Value for Embedded Conversion Options (Details)
$ / shares in Units, $ in Millions

Mar. 31, 2026

USD ($)

$ / shares

Mar. 11, 2026

USD ($)

$ / shares

Total value of embedded derivative | $

$ 42

^[1]

$ 30

Kodak's closing stock price | $ / shares

$ 9.05

$ 6.95

Expected Stock Price Volatility [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Alternative Investment, Measurement Input

0.665

0.65

Risk Free Rate [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Alternative Investment, Measurement Input

0.0382

0.0371

Implied Yield on Preferred Stock [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Alternative Investment, Measurement Input

0.1915

0.1848

[1]	Refer to Note 7, "Redeemable Convertible Preferred Stock" for additional details and Note 19, "Financial Instruments" for valuation of this derivative.

Note 11 - Revenue 2 (Details Textual)	Mar. 31, 2026
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]: 2026-01-01
Revenue, Remaining Performance Obligation, Percentage	15.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	9 months
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	10.00%
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	10.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01
Revenue, Remaining Performance Obligation, Percentage	50.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 1 - Basis of Presentation and Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2026

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, 2025 (the “2025 Form 10-K”).

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

No accounting pronouncements were recently adopted by Kodak.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

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). Kodak is currently evaluating the impact of this ASU.

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). Kodak is currently evaluating the impact of this ASU.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832). ASU 2025-10 establishes authoritative guidance on the accounting for government grants received by business entities, as GAAP previously did not provide specific authoritative guidance about the recognition, measurement and presentation of government grants. This ASU may be applied using either a retrospective, modified retrospective, or modified prospective approach, and is effective for annual reporting periods beginning after December 15, 2028 and interim reporting periods within such annual reporting periods (January 1, 2029 for Kodak). Kodak is currently evaluating the impact of this ASU.

In April 2026, the FASB issued ASU 2026-01, Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock. ASU 2026-01 requires that such dividends be initially measured on the basis of the dividend rate stated in the preferred stock agreement. The ASU may be applied on either a prospective or modified retrospective basis, and is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods (January 1, 2027 for Kodak). Kodak is currently evaluating the impact of this ASU.

Note 15 - Shareholders' Equity (Details Textual) - $ / shares shares in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Stock Authorized (in shares)	560.0
Common Stock, Shares Authorized (in shares)	500.0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	60.0
Preferred Stock, No Par Value (in dollars per share)	$ 0
Common Stock, Shares, Outstanding (in shares)	97.6	97.4
Treasury Stock, Common, Shares (in shares)	3.2	3.0
Series B Preferred Stock [Member]
Preferred Stock, Shares Outstanding (in shares)	1.0	1.0
Preferred Stock, Shares Issued (in shares)	1.0	1.0
Preferred Stock, Dividend Rate, Percentage	6.00%	4.00%

Note 15 - Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic and Diluted


	Three Months Ended
	March 31,
(in millions)	2026			2025
Net loss	$	(16	)	$	(7	)
Less: Series B Preferred stock cash dividends		(1	)		(1	)
Less: Series C Preferred stock in-kind dividends		—			(2	)
Less: Preferred stock deemed dividends		(1	)		—
Less: Deemed dividend on preferred stock amendment		(2	)		—
Net loss available to common shareholders - basic	$	(20	)	$	(10	)


	Three Months Ended
	March 31,
(in millions of shares)	2026		2025
Weighted average shares — basic		97.5		80.6
Effect of dilutive securities
Unvested restricted stock units		—		—
Employee stock options		—		—
Series B Preferred Stock		—		—
Weighted average shares — diluted		97.5		80.6

Note 12 - Other Charges, Net (Tables)

3 Months Ended

Mar. 31, 2026

Other Income and Expenses [Abstract]

Schedule of Other Charges, Net


	Three Months Ended
	March 31,
(in millions)	2026			2025
Interest income	$	(3	)	$	(2	)
Loss on foreign exchange transactions		2			2
Change in fair value of embedded preferred stock derivative liability (1)		12			—
Other		(2	)		—
Total	$	9		$	—

(1)

Refer to Note 19, "Financial Instruments" for information on the valuation of this derivative.

Note 10 - Guarantees - Deferred Revenue by Arrangement (Details) $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)
Guarantor Obligations [Line Items]
Deferred revenue on extended warranties	$ 94
Deferred revenue on extended warranties	91
Extended Warranty Arrangements [Member]
Guarantor Obligations [Line Items]
Deferred revenue on extended warranties	14
New extended warranty and maintenance arrangements deferred	15
Recognition of extended warranty and maintenance arrangement revenue	(14)
Deferred revenue on extended warranties	$ 15

Note 18 - Segment Information - Long Lived Assets by Geographical Areas (Details) - USD ($)
$ in Millions

Mar. 31, 2026

Dec. 31, 2025

Revenues from External Customers and Long-Lived Assets [Line Items]

Revenues from External Customers and Long-Lived Assets [Line Items]

^[1]

$ 195

$ 191

UNITED STATES

Revenues from External Customers and Long-Lived Assets [Line Items]

^[1]

144

142

EMEA [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

^[1]

Asia Pacific [Member]

Canada And Latin America [Member]

^[1]

Revenues from External Customers and Long-Lived Assets [Line Items]

Revenues from External Customers and Long-Lived Assets [Line Items]

^[1]

Non-US [Member]

Schedule of Current Inventory

^[1],[2]

$ 51

$ 49

[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 March 31, 2026, $41 million was located in Brazil. Of the total non-U.S. property, plant and equipment as of December 31, 2025, $39 million was located in Brazil.

Note 3 - Inventories, Net (Tables)

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]


	March 31,		December 31,
(in millions)	2026		2025
Finished goods	$	91	$	84
Work in process		87		72
Raw materials		77		62
Total	$	255	$	218

Note 6 - Debt and Credit Facilities (Details Textual) - USD ($) $ in Millions		3 Months Ended
	Mar. 13, 2026	Mar. 31, 2026	Mar. 31, 2025
Line of Credit Facility [Line Items]
Loss on early extinguishment of debt		$ 1	$ 0
Term Loan Credit Agreement [Member] \| Term Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount		$ 50
Payment of principal amount	$ 50
Prepayment premium percentage	1.00%	1.00%
Accrued uncapitalized interest	$ 1
Loss on early extinguishment of debt		$ 1
Refinancing Term Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount		$ 450

Note 13 - Income Taxes (Tables)

3 Months Ended

Mar. 31, 2026

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
	March 31,
(dollars in millions)	2026			2025
Loss from operations before income taxes	$	(13	)	$	(5	)
Effective tax rate		(23.1	)%		(40.0	)%
Provision for income taxes		3			2
Benefit for income taxes at U.S. statutory tax rate		(3	)		(1	)
Difference between tax at effective vs. statutory rate	$	6		$	3

Note 7 - Redeemable, Convertible Preferred Stock - Schedule of Redeemable, Convertible Preferred Stock (Parenthetical) (Details)				3 Months Ended		12 Months Ended
	Mar. 11, 2026	Feb. 26, 2021	Feb. 25, 2021	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
6.0% Series B Preferred Stock [Member]
Redeemable Convertible Preferred Stocks [Line Items]
Preferred Stock, Dividend Rate, Percentage	6.00%			6.00%	6.00%	6.00%
4.0% Series B Preferred Stock [Member]
Redeemable Convertible Preferred Stocks [Line Items]
Preferred Stock, Dividend Rate, Percentage	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%

Note 13 - Income Taxes - Schedule of Income Tax Provision and Effective Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Loss from operations before income taxes	$ (13)	$ (5)
Effective tax rate	(23.10%)	(40.00%)
Provision for income taxes	$ 3	$ 2
Benefit for income taxes at U.S. statutory tax rate	(3)	(1)
Difference between tax at effective vs. statutory rate	$ 6	$ 3

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.

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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Summary of Other Long-Term Liabilities

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2026
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, 2025 (the “2025 Form 10-K”)
Recently Adopted Accounting Pronouncements	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS No accounting pronouncements were recently adopted by Kodak. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS 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). Kodak is currently evaluating the impact of this ASU. 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). Kodak is currently evaluating the impact of this ASU. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832). ASU 2025-10 establishes authoritative guidance on the accounting for government grants received by business entities, as GAAP previously did not provide specific authoritative guidance about the recognition, measurement and presentation of government grants. This ASU may be applied using either a retrospective, modified retrospective, or modified prospective approach, and is effective for annual reporting periods beginning after December 15, 2028 and interim reporting periods within such annual reporting periods (January 1, 2029 for Kodak). Kodak is currently evaluating the impact of this ASU. In April 2026, the FASB issued ASU 2026-01, Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock. ASU 2026-01 requires that such dividends be initially measured on the basis of the dividend rate stated in the preferred stock agreement. The ASU may be applied on either a prospective or modified retrospective basis, and is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods (January 1, 2027 for Kodak). Kodak is currently evaluating the impact of this ASU.

Consolidated Statement of Equity (Deficit) (Unaudited) (Parentheticals)				3 Months Ended		12 Months Ended
	Mar. 11, 2026	Feb. 26, 2021	Feb. 25, 2021	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
4.0% Series B Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%
6.0% Series B Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	6.00%			6.00%	6.00%	6.00%

Note 5 - Other Long-term Liabilities (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]


	March 31,		December 31,
(in millions)	2026		2025
Workers' compensation	$	50	$	51
Asset retirement obligations		44		44
Deferred taxes		29		28
Deferred brand licensing revenue		50		52
Environmental liabilities		9		9
Embedded preferred stock derivative liability (1)		42		—
Other		25		23
Total	$	249	$	207

(1)

Refer to Note 7, "Redeemable Convertible Preferred Stock" for additional details and Note 19, "Financial Instruments" for valuation of this derivative.

Note 8 - Leases (Details Textual) - USD ($) $ in Millions	3 Months Ended
Note 8 - Leases (Details Textual) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Lessee, Lease, Description [Line Items]
Sales-type Lease, Lease Income	$ 1
Maximum [Member]
Lessee, Lease, Description [Line Items]
Sales-type Lease, Lease Income		$ 1

Note 14 - Retirement Plans

3 Months Ended

Mar. 31, 2026

Retirement Benefits [Abstract]

Retirement Plans

NOTE 14: RETIREMENT PLANS

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


	Three Months Ended
	March 31,
	2026						2025
(in millions)	U.S.			Non-U.S.			U.S.			Non-U.S.
Major defined benefit plans:
Service cost	$	4		$	—		$	3		$	—
Interest cost		—			4			27			4
Expected return on plan assets		(5	)		(4	)		(45	)		(5	)
Amortization of:
Prior service cost		—			—			3			—
Actuarial loss (gain)		—			1			(7	)		1
Net pension (income) expense before special termination benefits		(1	)		1			(19	)		—
Special termination benefits (1)		—			—			1			—
Total net pension (income) expense	$	(1	)	$	1		$	(18	)	$	—

(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.

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 then current employees. The benefits under the Kodak Cash Balance Plan are substantially the same as those under the cash balance feature of KRIP. On November 26, 2025, all pension obligations under KRIP were fully settled and the excess pension assets were reverted to the Company.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: 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/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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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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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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Comprehensive Income (Loss) [Abstract]

Note 17 - Other Comprehensive Income (Loss) - Changes in Other Comprehensive Income (Loss), by Component (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Currency translation adjustments

$ 1

$ 6

Newly established net actuarial loss

(0)

(71)

Tax provision

Newly established net actuarial loss, net of tax

(71)

Amortization of prior service cost

^[1]

Net actuarial gains

^[1]

(7)

Total reclassification adjustments

(0)

(4)

Tax provision

Reclassification adjustments, net of tax

(0)

(4)

Pension and other postretirement benefit plan changes, net of tax

(75)

Other comprehensive income (loss), net of tax

$ 1

$ (69)

[1]	Reclassified to Total Net Periodic Benefit Cost - refer to Note 14, "Retirement Plans".

Note 7 - Redeemable, Convertible Preferred Stock

3 Months Ended

Mar. 31, 2026

Temporary Equity [Abstract]

Redeemable, Convertible Preferred Stock

NOTE 7: REDEEMABLE, CONVERTIBLE PREFERRED STOCK

Redeemable convertible preferred stock was as follows:


	March 31,		December 31,
(in millions)	2026		2025
6.0% Series B Preferred Stock	$	72	$	-
4.0% Series B Preferred Stock	$	-	$	99

4.0% Series B Preferred Stock

On February 25, 2021, the Company filed with the Department of Treasury of the State of New Jersey a Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of the Company (the “Series B Certificate of Designations”) which established the designation, number of shares, rights, preferences and limitations of the Company’s 4.0% Series B Convertible Preferred Stock, no par value (the “4.0% Series B Preferred Stock”), which became effective upon filing.

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 4.0% Series B Preferred Stock, on a one-for-one basis plus accrued and unpaid dividends. The fair value of the 4.0% Series B Preferred Stock at the time of issuance approximated $95 million. The Company classified the 4.0% Series B Preferred Stock as temporary equity in the Consolidated Statement of Financial Position.

Embedded Conversion Features

Kodak allocated $1 million of the fair value from the issuance of the 4.0% Series B Preferred Stock to a derivative liability based on the aggregate fair value of an embedded conversion feature on the date of issuance. The carrying value of the 4.0% Series B Preferred Stock at the time of issuance, $93 million ($95 million fair value of 4.0% Series B Preferred Stock on February 26, 2021 less $1 million allocated to the derivative liability and $1 million of transaction costs) 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.

Dividend and Other Rights

Holders of 4.0% Series B Preferred Stock were entitled to cumulative dividends payable quarterly in cash at a rate of 4.0% per annum. If any shares of the 4.0% Series B Preferred Stock had not been converted prior to May 28, 2026, the Company was required to redeem such shares at $100 per share plus the amount of accrued and unpaid dividends.

Series B Preferred Stock Purchase

On December 5, 2025, certain funds affiliated with Kennedy Lewis (such funds, collectively, the “KL Funds”) purchased all outstanding shares of the 4.0% Series B Preferred Stock from the Purchasers or their successors in privately negotiated transactions.

Extinguishment of 4.0% Series B Preferred Stock

On March 11, 2026 (the “Amendment Date”), the Company filed with the Department of Treasury of the State of New Jersey a Certificate of Amendment to the Series B Certificate of Designations which amended certain terms of the Company’s 4.0% Series B Preferred Stock (the “Series B Preferred Stock Amendment”) and set forth the terms of the Company’s 6.0% Series B Convertible Preferred Stock, no par value (the “6.0% Series B Preferred Stock”).

The Company evaluated the amendment to the Series B Preferred Stock and determined that the 6.0% Series B Preferred Stock is substantially different from the 4.0% Series B Preferred Stock, primarily as a result of the embedded conversion option which is being accounted for separately as a derivative following the amendment. Accordingly, the Company accounted for the transaction as an extinguishment of the 4.0% Series B Preferred Stock and the issuance of a new 6.0% Series B Preferred Stock. The Company recognized a $2 million deemed dividend, recorded to Additional paid in capital in the Consolidated Statement of Financial Position, representing the excess of the fair value of the 6.0% Series B Preferred Stock over the carrying value of the 4.0% Series B Preferred Stock as of the Amendment Date.

6.0% Series B Preferred Stock

The total fair value of the 6.0% Series B Preferred Stock on the Amendment Date was approximately $102 million, of which $30 million was allocated to the embedded conversion options and recorded separately as a derivative liability (See “Embedded Conversion Features” section below for additional details). The remaining $72 million 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 Amendment Date through the mandatory redemption date, June 11, 2029. The Company has classified the 6.0% Series B Preferred Stock as temporary equity in the Consolidated Statement of Financial Position.

Dividend and Other Rights

The 6.0% Series B Preferred Stock ranks senior to the Company's common stock, par value $.01 per share ("Common Stock") with respect to dividend rights and rights on liquidation, winding-up and dissolution. The 6.0% Series B Preferred Stock has a liquidation preference of $100 per share, and the holders of 6.0% Series B Preferred Stock are entitled to cumulative dividends payable quarterly in cash at a rate of 6.0% per annum. Holders of 6.0% Series B Preferred Stock will have certain limited special approval rights, including with respect to the issuance of pari passu or senior equity securities of the Company. The Series B Preferred Stock Amendment also includes certain limitations on the Company’s ability to incur certain debt for borrowed money without the consent of the holders of 66 2/3% of the outstanding 6.0% Series B Preferred Stock, provided that the Company would have the right to redeem the 6.0% Series B Preferred Stock in full for cash if such consent is not provided (subject to the terms set forth in the Series B Preferred Stock Amendment).

Redemption Features

If any shares of 6.0% Series B Preferred Stock have not been converted prior to June 11, 2029 (the “Mandatory Redemption Date”), the Company is required to redeem such shares at $100 per share plus the amount of accrued and unpaid dividends. As the Company concluded the 6.0% Series B Preferred Stock is considered more akin to a debt-type instrument, the redemption feature is considered to be clearly and closely related to the host contract and therefore was not required to be separated from the 6.0% Series B Preferred Stock.

Conversion Features

Each share of 6.0% 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 10.00 shares of Common Stock for each share of 6.0% Series B Preferred Stock (equivalent to an initial conversion price of $10.00 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 6.0% Series B Preferred Stock during a specified period in connection with a fundamental change (as defined in the Series B Preferred Stock Amendment), such holder can elect to receive a make-whole premium, payable in additional shares of Common Stock, following the conversion of Series B Preferred Stock into shares of Common Stock if a fundamental change has occurred. In each case, the holder will also be entitled to receive shares with respect to accumulated dividends. In addition, the Company will have the right to require holders to convert any shares of 6.0% 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 has the right, subject to certain conditions, to cause the mandatory conversion of the 6.0% Series B Preferred Stock into shares of Common Stock in three tranches, each representing one-third of the 6.0% Series B Preferred Stock if the closing price of the Common Stock has for 45 trading days within a period of 60 consecutive trading days a) equaled or exceeded $14.50 after eighteen months from the Amendment Date, b) equaled or exceeded $15.50 after twenty four months from the Amendment Date and c) equaled or exceeded $16.50 after thirty months from the Amendment Date (in each case, the amount per share is subject to adjustment in the same manner as the conversion price).

Upon a voluntary or mandatory conversion of the 6.0% Series B Preferred Stock, to the extent the Company would otherwise be required to issue shares of Common Stock in excess of the number permitted without obtaining shareholder or regulatory approval, the Company is required to pay cash in lieu of issuing such excess shares. The cash payment is determined based on the market value of the Common Stock as of the applicable conversion date.

Embedded Conversion Features

The Company concluded the economic characteristics and risks of the embedded conversion features are not considered clearly and closely related to the 6.0% Series B Preferred Stock. Accordingly, these embedded conversion features were bifurcated from the 6.0% Series B Preferred Stock and separately accounted for on a combined basis as a single derivative liability. The Company allocated $30 million of the total fair value of the 6.0% Series B Preferred Stock to the derivative liability based on the aggregate fair value of the embedded conversion features as of the Amendment Date. The derivative is being accounted for at fair value with subsequent changes in the fair value being reported as part of Other charges, net in the Consolidated Statement of Operations.

The fair value of the embedded derivative as of March 31, 2026 was a liability of $42 million and is included in Other long-term liabilities in the accompanying Consolidated Statement of Financial Position. Refer to Note 19, “Financial Instruments” for information on the valuation of the derivative.

Beneficial Ownership Side Letter

On March 11, 2026, in connection with the Series B Preferred Stock Amendment, the Company entered into an amendment to an existing agreement (the “Side Letter”) with Kennedy Lewis Management LP and Kennedy Lewis Capital Partners Master Fund III LP, KLIM Delta HQC3 LP, Kennedy Lewis (EU) SPV LP and KLCP Co-Investment Opportunities III LP, (each, a “Fund”) which provides that no Fund shall have the right to convert any shares of 6.0% Series B Preferred Stock to the extent that after giving effect to such conversion, the Fund, together with the Fund’s Attribution Parties (as defined in the Side Letter), would collectively beneficially own a number of shares of Common Stock of the Company in excess of 4.99% of the number of shares of Common Stock outstanding (the “Beneficial Ownership Limitation”). The Funds may increase or decrease the Beneficial Ownership Limitation at any time upon not less than sixty-one (61) days’ prior written notice to the Company.

Investor Rights Agreement

On March 11, 2026, in connection with the Series B Preferred Stock Amendment, the Company entered into an Investor Rights Agreement (the “Series B Investor Rights Agreement”) with Kennedy Lewis Investment Management LLC (together with its affiliates and certain funds, accounts or clients managed, advised or sub-advised by Kennedy Lewis Investment Management LLC or its affiliates, “Kennedy Lewis”). Under the terms of the Series B Investor Rights Agreement, Kennedy Lewis is entitled to certain preemptive rights in connection with future issuances of the Company’s equity securities and the Company is entitled to rights of first refusal in connection with any proposed transfer by Kennedy Lewis of the Series B Preferred Stock, in each case, subject to customary terms and conditions. In addition, the Company has agreed to provide Kennedy Lewis with a reasonable opportunity to participate in future debt financings.

Registration Rights Agreement:

On March 11, 2026, in connection with the Series B Preferred Stock Amendment, the Company entered into a Registration Rights Agreement (the “Series B Registration Rights Agreement”) with Kennedy Lewis. Under the terms of the Series B Registration Rights Agreement, Kennedy Lewis (i) is entitled to require the Company to register for resale the shares of Common Stock issuable upon conversion of the Series B Preferred Stock, along with other shares of Common Stock held by Kennedy Lewis, on a shelf registration statement and (ii) has certain demand rights with respect to takedowns from such shelf registration statement. The Series B Registration Rights Agreement includes customary terms and conditions, including certain customary indemnification obligations.

Note 14 - Retirement Plans - Components of the Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

$ 0

$ (18)

UNITED STATES

(1)

(18)

Foreign Plan [Member]

Pension Plan [Member] | UNITED STATES

Expected return on plan assets

Service cost

Interest cost

(5)

(45)

Prior service cost

Actuarial loss (gain)

(7)

Net pension (income) expense before special termination benefits

(1)

(19)

Special termination benefits (1)

^[1]

Pension Plan [Member] | Foreign Plan [Member]

Expected return on plan assets

Service cost

Interest cost

(4)

(5)

Prior service cost

Actuarial loss (gain)

Net pension (income) expense before special termination benefits

Special termination benefits (1)

^[1]

$ 0

[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.

Note 13 - Income Taxes

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 13: INCOME TAXES

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


	Three Months Ended
	March 31,
(dollars in millions)	2026			2025
Loss from operations before income taxes	$	(13	)	$	(5	)
Effective tax rate		(23.1	)%		(40.0	)%
Provision for income taxes		3			2
Benefit for income taxes at U.S. statutory tax rate		(3	)		(1	)
Difference between tax at effective vs. statutory rate	$	6		$	3

For the three months ended March 31, 2026, the difference between Kodak’s effective tax rate and the U.S. statutory rate of 21.0% was primarily attributable to: (1) the movement of valuation allowances associated with changes in net deferred tax assets from current losses and earnings; (2) the jurisdictional mix of earnings (including US state); and (3) foreign withholding taxes.

For the three months ended March 31, 2025, the difference between Kodak’s effective tax rate and the U.S. statutory rate of 21.0% was primarily attributable to: (1) the movement of valuation allowances associated with changes in net deferred tax assets from current losses and earnings and (2) a provision associated with foreign withholding taxes on undistributed earnings.

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. After considering the applicable tax law changes in the Pillar 2 implementation, Kodak determined there was no material impact to its tax provision for the three months ended March 31, 2026 and 2025.

In March 2026, German Federal Fiscal Court (BFH) ruling (I R 37/22) confirmed that profit and loss transfer agreements ("PLTA") must be actually and timely implemented to maintain a valid tax group in Germany, including timely settlement of profit or loss compensation amongst entities in the group. Kodak is in the process of gathering information and assessing the impacts, if any, on the tax positions of the entities in the Company's German group for the 2021-2025 periods that are impacted by this ruling.

The entire disclosure for income tax.

Reference 1: 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 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
BRAZIL
Commitments And Contingencies Disclosure [LineItems]
Restricted Cash and Investments, Noncurrent	$ 7	$ 7
Federal And State Value Added Taxes Litigations And Civil Litigation And Disputes With Former Employees [Member] \| BRAZIL
Commitments And Contingencies Disclosure [LineItems]
Restricted Cash	100
Loss Contingency Accrual	7
Aggregate Claims	51
Loss Contingency, Estimate of Possible Loss	5
Restricted Cash and Investments, Noncurrent	7
Assets, Noncurrent	41
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	54
L C Facility Agreement [Member]
Commitments And Contingencies Disclosure [LineItems]
Letters of Credit Outstanding, Amount	$ 24

Note 4 - Other Current Assets

3 Months Ended

Mar. 31, 2026

Other Current Assets

NOTE 4: OTHER CURRENT ASSETS


	March 31,		December 31,
(in millions)	2026		2025
Short-term investments (1)	$	59	$	99
Restricted cash		8		9
Contract assets		5		5
Estimated workers' compensation recoveries		2		2
Other		30		26
Total	$	104	$	141

(1)

Short-term investments relate to investment assets received by the Company as part of the settlement of the Kodak Retirement Income Plan ("KRIP") in November 2025. The investment assets are primarily hedge fund investments which are expected to be redeemed within one year and are valued using the net asset value ("NAV") per share expedient.

The Other component above consists of other miscellaneous current assets that, individually, were less than 5% of the total current assets component in the accompanying Consolidated Statement of Financial Position, and therefore have been aggregated in accordance with Regulation S-X.

Note 10 - Guarantees (Tables)

3 Months Ended

Mar. 31, 2026

Guarantees [Abstract]

Deferred Revenue by Arrangement


(in millions)
Deferred revenue on extended warranties as of December 31, 2025	$	14
New extended warranty and maintenance arrangements deferred		15
Recognition of extended warranty and maintenance arrangement revenue		(14	)
Deferred revenue on extended warranties as of March 31, 2026	$	15

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
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

Consolidated Statement of Financial Position (Unaudited) (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Allowance for trade receivables	$ 7	$ 7
Property, plant, equipment, accumulated depreciation	$ 502	$ 499
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock Shares Issued Not Disclosed	true
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 4 - Other Current Assets (Tables)

3 Months Ended

Mar. 31, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Other Current Assets


	March 31,		December 31,
(in millions)	2026		2025
Short-term investments (1)	$	59	$	99
Restricted cash		8		9
Contract assets		5		5
Estimated workers' compensation recoveries		2		2
Other		30		26
Total	$	104	$	141

(1)

Note 17 - Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2026

Comprehensive Income (Loss) [Abstract]

Changes in Other Comprehensive Income (Loss), by Component

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


	Three Months Ended
	March 31,
(in millions)	2026		2025
Currency translation adjustments
Currency translation adjustments	$	1	$	6

Pension and other postretirement benefit plan changes
Newly established net actuarial loss		—		(71	)
Tax provision		—		—
Newly established net actuarial loss, net of tax		—		(71	)
Reclassification adjustments:
Amortization of prior service cost (1)		—		3
Amortization of actuarial gains (1)		—		(7	)
Total reclassification adjustments		—		(4	)
Tax provision		—		—
Reclassification adjustments, net of tax		—		(4	)
Pension and other postretirement benefit plan changes, net of tax		—		(75	)
Other comprehensive income (loss)	$	1	$	(69	)

(1)

Reclassified to Total Net Periodic Benefit Cost - refer to Note 14, "Retirement Plans".

Note 16 - Shareholders' Equity

3 Months Ended

Mar. 31, 2026

Stockholders' Equity Note [Abstract]

Shareholders' Equity

NOTE 16: 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 March 31, 2026 and December 31, 2025, there were 97.6 million and 97.4 million shares of common stock outstanding, respectively.

Preferred Stock

Series B Preferred stock issued and outstanding included 1.0 million shares of 6.0% Series B Preferred Stock at March 31, 2026 and 1.0 million shares of 4.0% Series B Preferred Stock at December 31, 2025 .

Treasury Stock

Treasury stock consisted of approximately 3.2 million and 3.0 million shares as of March 31, 2026 and December 31, 2025, respectively.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: 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 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Commitments and Contingencies Disclosure [Abstract]

Document And Entity Information - shares shares in Millions	3 Months Ended
Document And Entity Information - shares shares in Millions	Mar. 31, 2026	May 01, 2026
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	Q1
Document Fiscal Year Focus	2026
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
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		97.6

Note 9 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies

NOTE 9: COMMITMENTS AND CONTINGENCIES

As of March 31, 2026, 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 $54 million, and restricted cash of $100 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 Other 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 March 31, 2026, Kodak’s Brazilian operations maintained accruals of approximately $7 million for claims aggregating approximately $51 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 $5 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 March 31, 2026, 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 $41 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 Internal Revenue Service 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 2 - Cash, Cash Equivalents and Restricted Cash

3 Months Ended

Mar. 31, 2026

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:


	March 31,		December 31,
(in millions)	2026		2025
Cash and cash equivalents	$	299	$	337
Restricted cash reported in Other current assets		8		9
Restricted cash		92		96
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	399	$	442

Restricted cash reported in Other current assets on the Consolidated Statement of Financial Position primarily represented amounts that support hedging activities as of March 31, 2026 and December 31, 2025.

Restricted cash included $26 million and $25 million as of March 31, 2026 and December 31, 2025, respectively, representing the cash collateral required to be posted by the Company under the Amended and Restated L/C Facility Agreement. In addition, restricted cash as of March 31, 2026 and December 31, 2025 included $57 million and $62 million, respectively, representing cash collateral supporting the Company’s undiscounted actuarial workers’ compensation obligations with the New York State Workers’ Compensation Board ("NYS WCB"). Restricted cash also included $7 million of security posted related to Brazilian legal contingencies as of both March 31, 2026 and December 31, 2025.

Note 18 - Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Information

NOTE 18: 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 five lines of business: the Industrial Film and Chemicals business, the Motion Picture business, the Pharmaceuticals 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 primarily represent the operations of Eastman Business Park ("EBP") and do not meet the criteria of a reportable segment, are reported in All Other revenues and All Other Operational EBITDA.

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 2025 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 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; interest expense; other operating expense, net and other charges, 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 and changes in Operational EBITDA from prior periods 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 Loss from Continuing Operations Before Income Taxes


	Three Months Ended
	March 31,
	2026			2025
(in millions)
Print:
Revenues from external customers	$	180		$	165
Cost of revenues		143			137
Selling, general and administrative expenses		31			33
Research and development expenses		3			4
Operational EBITDA		3			(9	)

Advanced Materials and Chemicals:
Revenues from external customers		76			74
Cost of revenues		56			55
Selling, general and administrative expenses		10			9
Research and development expenses		3			3
Operational EBITDA		7			7

Brand:
Revenues from external customers		6			4
Selling, general and administrative expenses		1			—
Operational EBITDA		5			4

Total Operational EBITDA for Reportable Segments		15			2
All Other Operational EBITDA		(2	)		—
Depreciation and amortization		(7	)		(7	)
Restructuring costs and other		—			(5	)
Stock-based compensation		(5	)		(2	)
Consulting and other costs (1)		1			—
Idle costs (2)		(1	)		(1	)
Other operating expense, net (3)		(2	)		—
Interest expense (3)		(6	)		(14	)
Pension income excluding service cost component (3)		4			22
Loss on early extinguishment of debt (3)		(1	)		—
Other charges, net (3)		(9	)		—
Consolidated loss from continuing operations before income taxes	$	(13	)	$	(5	)

(1)

Consulting and other costs are professional services and internal costs associated with corporate strategic initiatives and

(2)

(3)

As reported in the Consolidated Statement of Operations.

A reconciliation of reportable segment revenues to consolidated revenues follows:


	Three Months Ended
	March 31,
(in millions)	2026		2025
Total Reportable Segment Revenues	$	262	$	243
All Other Revenues		3		4
Total Consolidated Revenues	$	265	$	247

There was no change to employee benefit reserves in the three months ended March 31, 2026. Kodak increased employee benefit reserves by approximately $1 million in the three months ended March 31, 2025 due to an increase in workers' compensation reserves driven by changes in discount rates. The increase in reserves in the three months ended March 31, 2025 impacted gross profit by approximately $1 million.

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
(in millions)	March 31,
Intangible asset amortization expense from continuing operations:	2026		2025
Print	$	-	$	1
Total	$	-	$	1


	Three Months Ended
(in millions)	March 31,
Depreciation expense from continuing operations:	2026		2025
Print	$	3	$	4
Advanced Materials and Chemicals		4		2
Total	$	7	$	6


(in millions)	March 31,		December 31,
Long-lived assets located in: (1)	2026		2025
The United States	$	144	$	142
Europe, Middle East and Africa		5		5
Asia Pacific		3		4
Canada and Latin America		43		40
Non-U.S. countries total (2)		51		49
Total	$	195	$	191

(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 March 31, 2026, $41 million was located in Brazil. Of the total

non-U.S. property, plant and equipment as of December 31, 2025, $39 million was located in Brazil.

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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Debt and Credit Facilities

Note 6 - Debt and Credit Facilities

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

NOTE 6: DEBT AND CREDIT FACILITIES

Term Loan Credit Agreement

On March 11, 2026, in connection with the Series B Preferred Stock Amendment (refer to Note 7, “Redeemable, Convertible Preferred Stock” for additional details on the Series B Preferred Stock Amendment), the Company and certain of its subsidiaries entered into the Fourth Amendment to the term loan credit agreement (the “Term Loan Amendment”), which amends the Company’s Amended and Restated Credit Agreement, dated as of June 30, 2023 (as amended, the “Term Loan Credit Agreement”) between the Company, certain of its subsidiaries, the lenders party thereto, and Alter Domus (US) LLC, as administrative agent. Under the Term Loan Credit Agreement, 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”). Certain holders of Series B Preferred Stock as well as funds under common management with holders of the Series B Preferred Stock are lenders under the Term Loan Credit Agreement.

The Term Loan Amendment required the Company to prepay an aggregate $50 million principal amount of Term Loans on or prior to March 18, 2026 and requires an additional $50 million principal amount of Term Loans on or prior to June 1, 2026, in each case, plus a prepayment premium equal to one percent.

On March 13, 2026, the Company paid $50 million of the outstanding principal amount of the Term Loans, $1 million in accrued uncapitalized interest and a prepayment premium equal to one percent of the principal amount paid. The Company recorded a loss on early extinguishment of debt of approximately $1 million during the first quarter of 2026. The $50 million principal amount due on or prior to June 1, 2026 is included in Short-term borrowings and current portion of long-term debt in the Consolidated Statement of Financial Position.

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.

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Other Income and Expenses [Abstract]

Note 10 - Guarantees (Details Textual) $ in Millions	3 Months Ended
Note 10 - Guarantees (Details Textual) $ in Millions	Mar. 31, 2026 USD ($) a
Warranty Arrangement Period [Member]
Guarantor Obligations [Line Items]
Extended Warranty Period (Year)	1 year
Minimum [Member]
Guarantor Obligations [Line Items]
Environmental Settlement, Historical Liabilities Trigger Amount \| $	$ 99
Extended Warranty Period (Year)	3 months
Maximum [Member]
Guarantor Obligations [Line Items]
Percentage of Liability Above 99 Million	50.00%
Extended Warranty Period (Year)	6 years
Eastman Business Park Rochester N Y [Member] \| Minimum [Member]
Guarantor Obligations [Line Items]
Area of Real Estate Property (Acre) \| a	1,200

Note 12 - Other Charges, Net

3 Months Ended

Mar. 31, 2026

Other Charges, Net

NOTE 12: OTHER CHARGES, NET


	Three Months Ended
	March 31,
(in millions)	2026			2025
Interest income	$	(3	)	$	(2	)
Loss on foreign exchange transactions		2			2
Change in fair value of embedded preferred stock derivative liability (1)		12			—
Other		(2	)		—
Total	$	9		$	—

(1)

Refer to Note 19, "Financial Instruments" for information on the valuation of this derivative.

Note 12 - Other Charges, Net - Schedule of Other Charges, Net (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Other Income and Expenses [Abstract]

Interest income

$ (3)

$ (2)

Loss on foreign exchange transactions

Change in fair value of preferred stock embedded derivative

^[1]

Other

(2)

Total

$ 9

$ 0

[1]	Refer to Note 19, "Financial Instruments" for information on the valuation of this derivative.

Note 19 - Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

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
	March 31,
(in millions)	2026		2025
Net loss (gain) from derivatives not designated as hedging instruments	$	2	$	(1	)

Summary of Key Inputs Used in Determination of Fair Value for Embedded Conversion Options

The following table presents the key inputs used in the determination of fair value for the embedded conversion options:


	Valuation Date
	March 31,			March 11,
	2026			2026
Total value of embedded derivative ($ millions)	$	42		$	30
Kodak's closing stock price	$	9.05		$	6.95
Expected stock price volatility		66.50	%		65.00	%
Risk free rate		3.82	%		3.71	%
Implied yield on preferred stock		19.15	%		18.48	%

Note 11 - Revenue 1 (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Contract assets	$ 5		$ 5
Contract with Customer, Liability	91		94
Contract with Customer, Liability, Revenue Recognized	27	$ 19
Contract with Customer, Cash Payments Received for Liabilities That Have Been Deferred	23	$ 18
Revenue, Remaining Performance Obligation, Amount	80
Other Current Assets [Member]
Contract assets	5		5
Other Current Liabilities [Member]
Contract with Customer, Liability	41		42
Other Noncurrent Liabilities [Member]
Contract with Customer, Liability	$ 50		$ 52

Note 15 - Earnings Per Share (Details Textual) - shares shares in Millions				3 Months Ended		12 Months Ended
	Mar. 11, 2026	Feb. 26, 2021	Feb. 25, 2021	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)				1.7	1.7
Dilutive securities excluded from computation of earnings per share, amount (in shares)				0.7	1.6
Restricted Stock Units (RSUs) [Member]
Dilutive securities excluded from computation of earnings per share, amount (in shares)				1.8	1.8
Series C Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)					1.2
Series B Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage				6.00%		4.00%
6.0% Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)				0.3
Preferred Stock, Dividend Rate, Percentage	6.00%			6.00%	6.00%	6.00%
4.0% Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)				0.3	1.0
Preferred Stock, Dividend Rate, Percentage	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%

Note 19 - Financial Instruments (Details Textual) - USD ($)		3 Months Ended		12 Months Ended
	Mar. 11, 2026	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Derivatives, Fair Value [Line Items]
Derivatives Hedging Instruments		$ 0	$ 0
Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Long-term borrowings		$ 100,000,000		$ 151,000,000
6.0% Series B Preferred Stock [Member]
Derivatives, Fair Value [Line Items]
Preferred Stock, Dividend Rate, Percentage	6.00%	6.00%	6.00%	6.00%
Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure		$ 0
Foreign Currency Contracts, Liability, Fair Value Disclosure		2,000,000
Maximum [Member] \| Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure				$ 1,000,000
Foreign Currency Contracts, Liability, Fair Value Disclosure				1,000,000
Foreign Exchange Forward [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount		$ 190,000,000		$ 224,000,000

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

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Cash flows from operating activities:

Net loss

$ (16)

$ (7)

Adjustments to reconcile to net cash used in operating activities:

Depreciation and amortization

Change in fair value of preferred stock embedded derivative

(18)

^[1]

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

Stock based compensation

Net gain from sale of assets

(1)

Provision for deferred income taxes

Decrease (increase) in trade receivables

(8)

(Increase) decrease in miscellaneous receivables

(4)

Increase in inventories

(38)

(15)

Increase in trade payables

Decrease in liabilities excluding borrowings and trade payables

(20)

Other items, net

Total adjustments

(14)

(31)

Net cash used in operating activities

(30)

(38)

Cash flows from investing activities:

Additions to properties

(6)

(12)

Proceeds from sale of preferred equity investment

Proceeds from redemption of KRIP reversion investments

Net proceeds from the sale of assets

Net cash (used in) provided by investing activities

(7)

Cash flows from financing activities:

Preferred stock cash dividend payments

(3)

(1)

Treasury stock purchases

(1)

Net cash used in financing activities

(54)

(2)

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

(1)

Net decrease in cash, cash equivalents and restricted cash

(43)

(45)

Cash, cash equivalents and restricted cash, beginning of period

442

301

Cash, cash equivalents and restricted cash, end of period

399

256

Non-cash Financing Item:

Series B preferred stock embedded derivative liability at issuance

Amended and Restated Term Loan Agreement [Member]

Cash flows from financing activities:

Repayment of debt

$ (51)

$ 0

[1]	Refer to Note 19, "Financial Instruments" for information on the valuation of this derivative.

Note 14 - Retirement Plans (Tables)

3 Months Ended

Mar. 31, 2026

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 pension plans are as follows:


	Three Months Ended
	March 31,
	2026						2025
(in millions)	U.S.			Non-U.S.			U.S.			Non-U.S.
Major defined benefit plans:
Service cost	$	4		$	—		$	3		$	—
Interest cost		—			4			27			4
Expected return on plan assets		(5	)		(4	)		(45	)		(5	)
Amortization of:
Prior service cost		—			—			3			—
Actuarial loss (gain)		—			1			(7	)		1
Net pension (income) expense before special termination benefits		(1	)		1			(19	)		—
Special termination benefits (1)		—			—			1			—
Total net pension (income) expense	$	(1	)	$	1		$	(18	)	$	—

(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.

Note 18 - Segment Information (Details Textual)

3 Months Ended

Mar. 31, 2026

USD ($)

Segment

Mar. 31, 2025

USD ($)

Dec. 31, 2025

USD ($)

Number of Reportable Segments | Segment

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

Executive Chairman And Chief Executive Officer [Member]

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

Increase (Decrease) in Employee Related Liabilities

$ 0

$ 1,000,000

Long-Lived Assets

^[1]

195,000,000

$ 191,000,000

BRAZIL

Long-Lived Assets

$ 41,000,000

$ 39,000,000

Gross Profit

Increase (Decrease) in Employee Related Liabilities

$ 1,000,000

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 4 - Other Current Assets - Summary of Other Current Assets (Details) - USD ($)
$ in Millions

Mar. 31, 2026

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Short-term investments

^[1]

$ 59

$ 99

Restricted cash

Contract assets

Estimated workers' compensation recoveries

Other

Total

$ 104

$ 141

[1]

Consolidated Statement of Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net loss	$ (16)	$ (7)
Other comprehensive income (loss), net of tax:
Currency translation adjustments	1	6
Pension and other postretirement benefit plan obligation activity, net of tax	0	(75)
Other comprehensive income (loss), net of tax	1	(69)
COMPREHENSIVE LOSS, NET OF TAX	$ (15)	$ (76)

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.

+ References + Details

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