NOTE 15: REVENUE

Disaggregation of Revenue

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

Major product:


	Year Ended
	December 31, 2025
			Advanced
			Materials and
(in millions)	Print		Chemicals		Brand		Other		Total
Core products and services (1)
Plates, inks and other consumables	$	501	$	26	$	—	$	—	$	527
Ongoing service arrangements		145		—		—		—		145
Total annuities		646		26		—		—		672
Equipment & Software		69		—		—		—		69
Film and chemicals		—		287		—		—		287
Total core products and services		715		313		—		—		1,028
Growth products (2)		—		3		—		—		3
Other (3)		—		—		23		15		38
Total	$	715	$	316	$	23	$	15	$	1,069


	Year Ended
	December 31, 2024
			Advanced
			Materials and
(in millions)	Print		Chemicals		Brand		Other		Total
Core products and services (1)
Plates, inks and other consumables	$	520	$	27	$	—	$	—	$	547
Ongoing service arrangements		155		—		—		—		155
Total annuities		675		27		—		—		702
Equipment & Software		62		1		—		—		63
Film and chemicals		—		239		—		—		239
Total core products and services		737		267		—		—		1,004
Growth products (2)		—		4		—		—		4
Other (3)		—		—		20		15		35
Total	$	737	$	271	$	20	$	15	$	1,043


	Year Ended
	December 31, 2023
			Advanced
			Materials and
(in millions)	Print		Chemicals		Brand		Other		Total
Core products and services (1)
Plates, inks and other consumables	$	571	$	26	$	—	$	—	$	597
Ongoing service arrangements		185		—		—		—		185
Total annuities		756		26		—		—		782
Equipment & Software		72		—		—		—		72
Film and chemicals		—		215		—		—		215
Total core products and services		828		241		—		—		1,069
Growth products (2)		—		14		—		—		14
Other (3)		—		—		17		17		34
Total	$	828	$	255	$	17	$	17	$	1,117

(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"), Brand Licensing and EBP.

Geography (1):


	Year Ended
	December 31, 2025
			Advanced
			Materials and
(in millions)	Print		Chemicals		Brand		Other		Total
United States	$	233	$	240	$	23	$	15	$	511
Canada		17		2		—		—		19
North America		250		242		23		15		530
Europe, Middle East and Africa		292		30		—		—		322
Asia Pacific		156		43		—		—		199
Latin America		17		1		—		—		18
Total Sales	$	715	$	316	$	23	$	15	$	1,069


	Year Ended
	December 31, 2024
			Advanced
			Materials and
(in millions)	Print		Chemicals		Brand		Other		Total
United States	$	231	$	214	$	20	$	15	$	480
Canada		15		2		—		—		17
North America		246		216		20		15		497
Europe, Middle East and Africa		312		22		—		—		334
Asia Pacific		161		32		—		—		193
Latin America		18		1		—		—		19
Total Sales	$	737	$	271	$	20	$	15	$	1,043


	Year Ended
	December 31, 2023
			Advanced
			Materials and
(in millions)	Print		Chemicals		Brand		Other		Total
United States	$	250	$	199	$	17	$	17	$	483
Canada		17		2		—		—		19
North America		267		201		17		17		502
Europe, Middle East and Africa		360		20		—		—		380
Asia Pacific		178		33		—		—		211
Latin America		23		1		—		—		24
Total Sales	$	828	$	255	$	17	$	17	$	1,117

(1)

Sales are reported in the geographic area in which they originate. No non-U.S. country generated more than 10% of net sales in the years ended December 31, 2025, 2024 and 2023.

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 are 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 are reported in Other current liabilities and Other long-term liabilities in the Consolidated Statement of Financial Position. Contract assets and liabilities consisted of the following:


	As of December 31,
(in millions)	2025		2024
Contract assets	$	5	$	5

Contract liabilities - current		42		35
Contract liabilities - long-term		52		57
Total	$	94	$	92

Activity in deferred revenue accounts consisted of:


	Year Ended December 31,
(in millions)	2025		2024		2023
Beginning liabilities recognized in revenue	$	28	$	33	$	33
Cash payments received, net of revenue recognized	$	32	$	24	$	39

Historical Timeline

Fiscal Year	Filed
2025	Mar 12, 2026	Showing above
2024	Mar 17, 2025

2023	Mar 14, 2024

2022	Mar 16, 2023

2020	Mar 16, 2021

2019	Mar 17, 2020

2018	Apr 1, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

EASTMAN KODAK CO Revenue Disclosure

Historical Timeline

About Revenue Disclosures

Other Available Disclosures