Quote Originally Posted by Aristophanes View Post
Those pensions and medical commitments, plus land taxes, decommissioning, etc. are also liabilities of the film operations.

Yet film demand has fallen by 10%+ YOY with a severe acceleration in the last 5 quarters, especially for motion picture film.

Revenues continue to decline but those obligations, especially the deferred HR ones, remain a liability against vastly smaller revenues.
These obligations are gone the day Kodak files chapter 11, which seems a given under the current circumstances. After that Kodaks film business might well be profitable for a while, depending of whether they can handle the decline in movie film business. Ask Ilford how they did it. Ask Polaroid how not to do it.
Quote Originally Posted by Aristophanes View Post
It is mathematically impossible for film to have been profitable when outstanding obligations remain high but revenues decline by such staggering amounts. Kodak's rearguard action has been to focus on motion picture film and sell patents.
At the same time Kodak spent next to zilch on research and development, which saved them a bundle and makes mathematical possibility possible
Quote Originally Posted by Aristophanes View Post
The concept that film's decline for Kodak being caused by a resource shift to digital is pure fantasy.
Please tell me who claimed that. I have followed most of the threads regarding Kodak but I have not read this anywhere. You'll find more folks blaming HAARP on this than people claiming what you wrote.
Quote Originally Posted by Aristophanes View Post
In theory, the only way one can shift film into the black side is to remove those obligations through internal division mapping. This is not GAAP and no one buys that concept, which is one reason why EK is now a penny stock. Flailing about with pensions and patents is management desperation.
Bean counters. Making the impossible possible since beginning of capitalism Bernie Madoff's ponzi scheme was possible for much too long that I would trust in GAAP requirements.