v3.26.1
Note 11 - Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

NOTE 11: REVENUE

Disaggregation of Revenue

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

Major Product:

 

Three Months Ended

 

June 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products and services (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

138

 

 

$

7

 

 

$

—

 

 

$

—

 

 

$

145

 

Ongoing service arrangements

 

 

31

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

31

 

Total annuities

 

 

169

 

 

 

7

 

 

 

—

 

 

 

—

 

 

 

176

 

Equipment & software

 

 

26

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

26

 

Film and chemicals

 

 

—

 

 

 

97

 

 

 

—

 

 

 

—

 

 

 

97

 

Total core products and services

 

 

195

 

 

 

104

 

 

 

—

 

 

 

—

 

 

 

299

 

Growth products (2)

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Other (3)

 

 

—

 

 

 

—

 

 

 

7

 

 

 

4

 

 

 

11

 

   Total

 

$

195

 

 

$

105

 

 

$

7

 

 

$

4

 

 

$

311

 

 

Six Months Ended

 

June 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products and services (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

263

 

 

$

13

 

 

$

—

 

 

$

—

 

 

$

276

 

Ongoing service arrangements

 

 

65

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

65

 

Total annuities

 

 

328

 

 

 

13

 

 

 

—

 

 

 

—

 

 

 

341

 

Equipment & software

 

 

47

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

47

 

Film and chemicals

 

 

—

 

 

 

166

 

 

 

—

 

 

 

—

 

 

 

166

 

Total core products and services

 

 

375

 

 

 

179

 

 

 

—

 

 

 

—

 

 

 

554

 

Growth products (2)

 

 

—

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

2

 

Other (3)

 

 

—

 

 

 

—

 

 

 

13

 

 

 

7

 

 

 

20

 

   Total

 

$

375

 

 

$

181

 

 

$

13

 

 

$

7

 

 

$

576

 

 

Three Months Ended

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products and services (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

129

 

 

$

6

 

 

$

—

 

 

$

—

 

 

$

135

 

Ongoing service arrangements

 

 

35

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

35

 

Total annuities

 

 

164

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

170

 

Equipment & software

 

 

14

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

Film and chemicals

 

 

—

 

 

 

68

 

 

 

—

 

 

 

—

 

 

 

68

 

Total core products and services

 

 

178

 

 

 

74

 

 

 

—

 

 

 

—

 

 

 

252

 

Growth products (2)

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Other (3)

 

 

—

 

 

 

—

 

 

 

6

 

 

 

4

 

 

 

10

 

Total

 

$

178

 

 

$

75

 

 

$

6

 

 

$

4

 

 

$

263

 

 

 

Six Months Ended

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

Core products and services (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plates, inks and other consumables

 

$

243

 

 

$

13

 

 

$

—

 

 

$

—

 

 

$

256

 

Ongoing service arrangements

 

 

71

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

71

 

Total annuities

 

 

314

 

 

 

13

 

 

 

—

 

 

 

—

 

 

 

327

 

Equipment & software

 

 

29

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

29

 

Film and chemicals

 

 

—

 

 

 

134

 

 

 

—

 

 

 

—

 

 

 

134

 

Total core products and services

 

 

343

 

 

 

147

 

 

 

—

 

 

 

—

 

 

 

490

 

Growth products (2)

 

 

—

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

2

 

Other (3)

 

 

—

 

 

 

—

 

 

 

10

 

 

 

8

 

 

 

18

 

Total

 

$

343

 

 

$

149

 

 

$

10

 

 

$

8

 

 

$

510

 

 

(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

 

June 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

70

 

 

$

81

 

 

$

7

 

 

$

4

 

 

$

162

 

Canada

 

 

7

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

8

 

North America

 

 

77

 

 

 

82

 

 

 

7

 

 

 

4

 

 

 

170

 

Europe, Middle East and Africa

 

 

73

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

81

 

Asia Pacific

 

 

40

 

 

 

15

 

 

 

—

 

 

 

—

 

 

 

55

 

Latin America

 

 

5

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

Total

 

$

195

 

 

$

105

 

 

$

7

 

 

$

4

 

 

$

311

 

 

 

Six Months Ended

 

June 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

137

 

 

$

139

 

 

$

13

 

 

$

7

 

 

$

296

 

Canada

 

 

10

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

12

 

North America

 

 

147

 

 

 

141

 

 

 

13

 

 

 

7

 

 

 

308

 

Europe, Middle East and Africa

 

 

140

 

 

 

16

 

 

 

—

 

 

 

—

 

 

 

156

 

Asia Pacific

 

 

80

 

 

 

24

 

 

 

—

 

 

 

—

 

 

 

104

 

Latin America

 

 

8

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8

 

Total

 

$

375

 

 

$

181

 

 

$

13

 

 

$

7

 

 

$

576

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

59

 

 

$

54

 

 

$

6

 

 

$

4

 

 

$

123

 

Canada

 

 

4

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

5

 

North America

 

 

63

 

 

 

55

 

 

 

6

 

 

 

4

 

 

 

128

 

Europe, Middle East and Africa

 

 

73

 

 

 

8

 

 

 

—

 

 

 

—

 

 

 

81

 

Asia Pacific

 

 

39

 

 

 

12

 

 

 

—

 

 

 

—

 

 

 

51

 

Latin America

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3

 

Total

 

$

178

 

 

$

75

 

 

$

6

 

 

$

4

 

 

$

263

 

 

 

 

 

 

Six Months Ended

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Print

 

 

Chemicals

 

 

Brand

 

 

All Other

 

 

Total

 

United States

 

$

111

 

 

$

113

 

 

$

10

 

 

$

8

 

 

$

242

 

Canada

 

 

7

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

8

 

North America

 

 

118

 

 

 

114

 

 

 

10

 

 

 

8

 

 

 

250

 

Europe, Middle East and Africa

 

 

141

 

 

 

15

 

 

 

—

 

 

 

—

 

 

 

156

 

Asia Pacific

 

 

77

 

 

 

20

 

 

 

—

 

 

 

—

 

 

 

97

 

Latin America

 

 

7

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7

 

Total

 

$

343

 

 

$

149

 

 

$

10

 

 

$

8

 

 

$

510

 

 

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

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed trade receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the Consolidated Statement of Financial Position. The contract assets are transferred to trade receivables when the rights to consideration become unconditional. The amount recorded for contract assets at June 30, 2026 and December 31, 2025 was $10 million and $5 million, respectively, 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 amount recorded for contract liabilities in the Consolidated Statement of Financial Position at June 30, 2026 and December 31, 2025 was $88 million and $94 million, respectively, of which $39 million and $42 million, respectively, was reported in Other current liabilities and $49 million and $52 million, respectively, was reported in Other long-term liabilities.

Revenue recognized for the three and six months ended June 30, 2026 and 2025 that was included in the contract liability balance at the beginning of the respective fiscal years was $13 million and $35 million, respectively, in 2026 and $8 million and $23 million, respectively in 2025 and primarily represented revenue from prepaid service contracts and equipment sales. Contract liabilities as of June 30, 2026 included $21 million and $27 million of cash payments received during the three and six months ended June 30, 2026, respectively. Contract liabilities as of June 30, 2025 included $25 million and $29 million of cash payments received during the three and six months ended June 30, 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 June 30, 2026, there was approximately $78 million of unrecognized revenue from unsatisfied performance obligations. Approximately 10% of the revenue from unsatisfied performance obligations is expected to be recognized in the remainder of 2026, 15% in each of 2027 and 2028, 10% in 2029 and 50% thereafter.