Kodak Completes Pension Reversion, Receiving $1 Billion and Strengthening Balance Sheet

Kodak has completed the reversion process for its $1.023 billion pension assets, resulting in approximately $767 million reverting to the company. The excess assets have strengthened Kodak's balance sheet and allowed the company to pre-pay its term loans, reducing the balance to $200 million. Kodak is now in a net-positive cash position, with a cash balance exceeding $300 million. The company has also directed $251 million of investment assets and $5 million of cash to fully fund a new defined benefit plan for its U.S.-based employees.