Read the reports. The IP has value, the offset commercial print makes money, and there are considerable real assets (property). What is losing money is film and entertainment (cinema) production and distribution, digital cameras (of which Kodak is shuttering some lines), and consumer printers.
Originally Posted by Hatchetman
But the film revenues are in freefall, declining faster that overhead can be cut. Film revenues can no longer pay the pensions of the people that created the products in the first place. That's a liability accrued by film, not paid because customers left film for digital.