Eastman Kodak Completes Pension Reversion Process, Reduces Term Loan Balance

By Stephen Nakrosis

Eastman Kodak said the company has completed a reversion process for $1.02 billion in excess pension assets, strengthening its balance sheet and helping the company reduce its term loan balance.

Kodak said $609 million in cash and non-cash assets valued at $158 million reverted to the company.

All pension obligations to participants in the company-funded Kodak Retirement Income Plan have been fully settled, the company said. In addition, $251 million of investment assets and $5 million of cash have been directed to fully fund the new Kodak Cash Balance Plan, a defined benefit plan for current U.S.-based employees, the company said.

The company used some $312 million of cash to repay outstanding term loans, bringing the remaining principal balance of the company's term loans to $200 million, Kodak said.

Kodak also said $153 million will be required to satisfy excise taxes from the reversion of the assets from KRIP, and also said $13 million has been transferred by KRIP to the Pension Benefit Guaranty Corporation missing program in November.

Kodak said it is now in a net-positive cash position, with a cash balance exceeding $300 million.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 02, 2025 18:07 ET (23:07 GMT)