With all due respect PE, there are no "film profits" at EK. That division has lost money every Q for almost a decade now. When the losses narrow, it is because of asset sales, which are then patriated to the mothership to fund areas of potential growth. That growth is not in analog for the same reason there are almost no film cameras still in manufacture on an industrial scale. The legacy costs of film manufacturing are still evident in the pensions (deferred earnings).

No matter how one measures it, the balance sheets show continuous declining revenues with liabilities still exceeding assets. Even if all non vested pension/medical obligations are wiped by Ch. 11, EK film still bleeds red ink. It's hard to operate and amortize a major industrial system part-time.