Corning (GLW) 10-Q 29 Apr 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 15, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	CORNING INC /NY
Trading Symbol	glw
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		1,075,348,536
Amendment Flag	false
Entity Central Index Key	24,741
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Net sales		$ 2,047	$ 2,265
Cost of sales		1,283	1,336
Gross margin		764	929
Operating expenses:
Selling, general and administrative expenses		303	316
Research, development and engineering expenses		190	189
Amortization of purchased intangibles		14	12
Restructuring, impairment and other charges		80
Operating income		177	412
Equity in earnings of affiliated companies		59	94
Interest income		6	5
Interest expense		(41)	(30)
Foreign currency hedge (loss) gain, net		(894)	42
Other income (expense), net		21	(30)
(Loss) income before income taxes		(672)	493
Benefit (provision) for income taxes (Note 5)		304	(86)
Net (loss) income attributable to Corning Incorporated		$ (368)	$ 407
(Loss) earnings per common share attributable to Corning Incorporated:
Basic (Note 6) (in Dollars per share)		$ (0.36)	$ 0.30
Diluted (Note 6) (in Dollars per share)		(0.36)	0.29
Dividends declared per common share (1) (in Dollars per share)	[1]	$ 0.135	$ 0
[1]	The first quarter 2015 dividend was declared on December 3, 2014.

Consolidated Statements of (Los

Consolidated Statements of (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net (loss) income attributable to Corning Incorporated	$ (368)	$ 407
Foreign currency translation adjustments and other	428	(256)
Net unrealized (losses) gains on investments	(2)	1
Unamortized gains (losses) and prior service credits (costs) for postretirement benefit plans		1
Net unrealized (losses) gains on designated hedges	(19)	5
Other comprehensive income (loss), net of tax	407	(249)
Comprehensive income attributable to Corning Incorporated	$ 39	$ 158

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 3,540	$ 4,500
Short-term investments, at fair value		100
Trade accounts receivable, net of doubtful accounts and allowances - $46 and $48	1,388	1,372
Inventories, net of inventory reserves - $156 and $146 (Note 8)	1,453	1,385
Other current assets	797	912
Total current assets	7,178	8,269
Investments (Note 9)	2,072	1,975
Property, plant and equipment, net of accumulated depreciation - $9,632 and $9,188	12,823	12,648
Goodwill, net (Note 10)	1,399	1,380
Other intangible assets, net (Note 10)	703	706
Deferred income taxes (Note 5)	2,428	2,056
Other assets	1,342	1,493
Total Assets	27,945	28,527
Current liabilities:
Current portion of long-term debt and short-term borrowings (Note 4)	527	572
Accounts payable	836	934
Other accrued liabilities (Note 3 and Note 12)	1,201	1,308
Total current liabilities	2,564	2,814
Long-term debt (Note 4)	3,910	3,890
Postretirement benefits other than pensions (Note 11)	717	718
Other liabilities (Note 3 and Note 12)	2,767	2,242
Total liabilities	$ 9,958	$ 9,664
Commitments, contingencies and guarantees (Note 3)
Shareholders’ equity (Note 15):
Convertible preferred stock, Series A – Par value $100 per share; Shares authorized 3,100; Shares issued: 2,300	$ 2,300	$ 2,300
Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1,682 million and 1,681 million	841	840
Additional paid-in capital – common stock	13,638	13,352
Retained earnings	13,290	13,832
Treasury stock, at cost; Shares held: 607 million and 551 million	(10,747)	(9,725)
Accumulated other comprehensive loss	(1,404)	(1,811)
Total Corning Incorporated shareholders’ equity	17,918	18,788
Noncontrolling interests	69	75
Total equity	17,987	18,863
Total Liabilities and Equity	$ 27,945	$ 28,527

Consolidated Balance Sheets (U5

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Doubtful accounts and allowances (in Dollars)	$ 46	$ 48
Inventory reserves (in Dollars)	156	146
Accumulated depreciation (in Dollars)	$ 9,632	$ 9,188
Convertible preferred stock, par value (in Dollars per share)	$ 100	$ 100
Convertible preferred stock, shares authorized	3,100	3,100
Convertible preferred stock, shares issued	2,300	2,300
Common stock par value (in Dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized	3,800,000,000	3,800,000,000
Common stock, shares issued	1,682,000,000	1,681,000,000
Treasury stock, at cost, shares held	607,000,000	551,000,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net (loss) income	$ (368)	$ 407
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	281	279
Amortization of purchased intangibles	14	12
Restructuring, impairment and other charges	80
Stock compensation charges	9	10
Equity in earnings of affiliated companies	(59)	(94)
Dividends received from affiliated companies		48
Deferred tax benefit	(345)	(5)
Restructuring payments	(3)	(13)
Employee benefit payments less than (in excess of) expense	7	(6)
Losses (gains) on foreign currency hedges related to translated earnings	857	(29)
Unrealized translation (gains) losses on transactions	(123)	298
Changes in certain working capital items:
Trade accounts receivable	21	35
Inventories	(42)	(1)
Other current assets	(76)	(13)
Accounts payable and other current liabilities	(293)	(314)
Other, net	(43)	(13)
Net cash (used in) provided by operating activities	(83)	601
Cash Flows from Investing Activities:
Capital expenditures	(270)	(333)
Acquisitions of business, net of cash received		(531)
Proceeds from loan repayments from unconsolidated entities		4
Short-term investments – acquisitions	(20)	(284)
Short-term investments – liquidations	121	282
Realized gains on foreign currency hedges related to translated earnings	93	149
Net cash used in investing activities	(76)	(713)
Cash Flows from Financing Activities:
Net repayments of short-term borrowings and current portion of long-term debt	(64)
Proceeds from issuance of commercial paper	19
Principal payments under capital lease obligations	(1)
Payments from settlement of interest rate swap arrangements		(9)
Proceeds from the exercise of stock options	9	89
Repurchases of common stock for treasury	(703)	(477)
Dividends paid	(173)	(177)
Net cash used in financing activities	(913)	(574)
Effect of exchange rates on cash	112	(319)
Net decrease in cash and cash equivalents	(960)	(1,005)
Cash and cash equivalents at beginning of period	4,500	5,309
Cash and cash equivalents at end of period	$ 3,540	$ 4,304

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1. Significant Accounting Policies Basis of Presentation In these notes, the terms “Corning,” “Company,” “we,” “us,” or “our” mean Corning Incorporated and subsidiary companies. The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been omitted or condensed. These interim consolidated financial statements should be read in conjunction with Corning’s consolidated financial statements and notes thereto included in its Annual Report on Form 10-K for the year ended December 31, 2015 (“2015 Form 10-K”). The unaudited consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of operations, financial position and cash flows for the interim periods presented. All such adjustments are of a normal recurring nature. The results for interim periods are not necessarily indicative of results which may be expected for any other interim period or for the full year. Certain prior year amounts have been reclassified to conform to the current-year presentation. These reclassifications had no impact on our results of operations, financial position, or changes in shareholders’ equity. New Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. (“ASU”) 2014-09, Revenue from Contracts with Customers, as a new Topic, Accounting Standards Codification (“ASC”) Topic 606. The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU originally was effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. This ASU shall be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), deferring the effective date of ASU 2014-09 by one year. We can elect to adopt the provisions of ASU 2014-09 for annual periods beginning after December 15, 2017, including interim periods within that reporting period. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. We are currently assessing the adoption date and potential impact of adopting ASU 2014-09 on our financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes all existing guidance on accounting for leases in ASC Topic 840. ASU 2016-02 is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. ASU 2016-02 will continue to classify leases as either finance or operating, with classification affecting the pattern of expense recognition in the statement of income. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. ASU 2016-02 is required to be applied with a modified retrospective approach to each prior reporting period presented with various optional practical expedients. We are currently assessing the adoption date and the potential impact of adopting ASU 2016-02 on our financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, including interim periods within those annual periods. If an entity early adopts in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period and the entity must adopt all of the amendments from ASU 2016-09 in the same period. We are currently assessing the adoption date and the potential impact of adopting ASU 2016-09 on our financial statements and related disclosures.

Note 2 - Restructuring, Impairm

Note 2 - Restructuring, Impairment and Other Charges	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	2. Restructuring, Impairment and Other Charges 2016 Activity In the first quarter of 2016, we recorded charges of $80 million, pre-tax, for employee related costs, asset disposals, and exit costs associated with some minor restructuring activities in all of the segments, with total cash expenditures estimated to be $15 million. The following table summarizes the restructuring, impairment and other charges for the three months ended March 31, 2016 (in millions): Reserve at January 1, 2016 Net Charges/ Reversals Non-cash adjustments Cash payments Reserve at March 31, 2016 Restructuring: Employee related costs $ 3 $ 15 $ (1) $ (2) $ 15 Other charges 1 (1) Total restructuring activity $ 3 $ 16 $ (1) $ (3) $ 15 Disposal of long-lived assets $ 64 Total restructuring, impairment and other charges $ 80 Cash payments for employee-related and exit activity related to the 2016 restructuring activities are expected to be substantially completed in 2016. The year-to-date cost of these plans for each of our reportable segments was as follows (in millions): Operating segment Employee- related and other charges Display Technologies $ 4 Optical Communications 6 Environmental Technologies 5 Specialty Materials 12 Life Sciences 3 All Other 42 Corporate 8 Total restructuring, impairment and other charges $ 80

Note 3 - Commitments, Contingen

Note 3 - Commitments, Contingencies, and Guarantees	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	3. Commitments, Contingencies and Guarantees Pittsburgh Corning Corporation and Asbestos Litigation. PCC Plan of Reorganization Corning, with other relevant parties, has been involved in ongoing efforts to develop a Plan of Reorganization that would resolve the concerns and objections of the relevant courts and parties. On November 12, 2013, the Bankruptcy Court issued a decision finally confirming an Amended PCC Plan of Reorganization (the “Amended PCC Plan” or the “Plan”). On September 30, 2014, the United States District Court for the Western District of Pennsylvania (the “District Court”) affirmed the Bankruptcy Court’s decision confirming the Amended PCC Plan. On October 30, 2014, one of the objectors to the Plan appealed the District Court’s affirmation of the Plan to the United States Court of Appeals for the Third Circuit (the “Third Circuit Court of Appeals”). On January 6, 2016, all pending appeals of the Plan were withdrawn and the Plan became effective on April 27, 2016. Under the Plan as affirmed by the Bankruptcy Court and affirmed by the District Court, Corning is required to contribute its equity interests in PCC and Pittsburgh Corning Europe N.V. (“PCE”), a Belgian corporation, and to contribute $290 million in a fixed series of payments, recorded at present value. Corning will contribute its equity interest in PCC and PCE on the Plan’s Funding Effective Date, which is expected to occur in June 2016. Corning has the option to use its common stock rather than cash to make these payments, but the liability is fixed by dollar value and not the number of shares. The Plan requires Corning to make: (1) one payment of $70 million one year from the date the Plan becomes effective and certain conditions are met; and (2) five additional payments of $35 million, $50 million, $35 million, $50 million, and $50 million, respectively, on each of the five subsequent anniversaries of the first payment, the final payment of which is subject to reduction based on the application of credits under certain circumstances. Non-PCC Asbestos Litigation In addition to the claims against Corning related to its ownership interest in PCC, Corning is also the defendant in approximately 9,700 other cases (approximately 37,300 claims) alleging injuries from asbestos related to its Corhart business and similar amounts of monetary damages per case (the “non-PCC asbestos claims”). When PCC filed for bankruptcy protection, the Court granted a preliminary injunction to suspend all asbestos cases against PCC, PPG and Corning – including these non-PCC asbestos claims (the “Stay”). The Stay remains in place as of the date of this filing; however, given that the Amended PCC Plan is now affirmed by the District Court and the Third Circuit Court of Appeals, Corning anticipates the Stay will be lifted in the second half of 2016. These non-PCC asbestos claims have been covered by insurance without material impact to Corning to date. As of March 31, 2016, Corning had received for these claims approximately $19 million in insurance payments. When the Stay is lifted, these non-PCC asbestos claims will be allowed to proceed against Corning. In prior periods, Corning recorded in its estimated asbestos litigation liability an additional $150 million for these and any future non-PCC asbestos claims. Total Estimated Liability for the Amended PCC Plan and the Non-PCC Asbestos Claims The liability for the Amended PCC Plan and the non-PCC asbestos claims was estimated to be $677 million at March 31, 2016, compared with an estimate of liability of $678 million at December 31, 2015. The $677 million liability is comprised of $237 million of the fair value of PCE, $290 million for the fixed series of payments, and $150 million for the non-PCC asbestos claims, all referenced in the preceding paragraphs. With respect to the PCE liability, at March 31, 2016 and December 31, 2015, the fair value of $237 million and $238 million of our interest in PCE significantly exceeded its carrying value of $159 million and $154 million, respectively. There have been no impairment indicators for our investment in PCE and we continue to recognize equity earnings of this affiliate. At the time Corning recorded this liability, it determined it lacked the ability to recover the carrying amount of its investment in PCC and its investment was other than temporarily impaired. As a result, we reduced our investment in PCC to zero. As the fair value in PCE is significantly higher than book value, management believes that the risk of an additional loss in an amount materially higher than the fair value of the liability is remote. With respect to the liability for other asbestos litigation, the liability for non-PCC asbestos claims was estimated based upon industry data for asbestos claims since Corning does not have recent claim history due to the Stay issued by the Bankruptcy Court. The estimated liability represents the undiscounted projection of claims and related legal fees over the next 20 years. The amount may need to be adjusted in future periods as more data becomes available; however, we cannot estimate any additional losses at this time. At March 31, 2016, $440 million of the obligation, consisting of the $290 million for the fixed series of payments and $150 million for the non-PCC asbestos claims, is classified as a non-current liability, as installment payments for the cash portion of the obligation are not planned to commence until more than 12 months after the Amended PCC Plan becomes effective. The amount of the obligation related to the fair value of PCE, $237 million, is classified as a current liability as the contribution of the assets is expected to be made within the next twelve months. Non-PCC Asbestos Claims Insurance Litigation Several of Corning’s insurers have commenced litigation in state courts for a declaration of the rights and obligations of the parties under insurance policies, including rights that may be affected by the potential resolutions described above. Corning has resolved these issues with a majority of its relevant insurers, and is vigorously contesting these cases with the remaining relevant insurers. Management is unable to predict the outcome of the litigation with these remaining insurers. Other Commitments and Contingencies We are required, at the time a guarantee is issued, to recognize a liability for the fair value or market value of the obligation it assumes. In the normal course of our business, we do not routinely provide significant third-party guarantees. Generally, any third party guarantees provided by Corning are limited to certain financial guarantees including stand-by letters of credit and performance bonds, and the incurrence of contingent liabilities in the form of purchase price adjustments related to attainment of milestones. When provided, these guarantees have various terms, and none of these guarantees are individually significant. As of March 31, 2016 and December 31, 2015, contingent guarantees had a total notional value of $179 million and $184 million, respectively. We believe a significant majority of these contingent guarantees will expire without being funded. We also were contingently liable for purchase obligations of $249 million and $220 million, at March 31, 2016 and December 31, 2015, respectively. Product warranty liability accruals at March 31, 2016 and December 31, 2015 are insignificant. Corning is a defendant in various lawsuits, including environmental, product-related suits, the Dow Corning and PCC matters, and is subject to various claims that arise in the normal course of business. In the opinion of management, the likelihood that the ultimate disposition of these matters will have a material adverse effect on Corning’s consolidated financial position, liquidity, or results of operations, is remote. Other than certain asbestos related claims, there are no other material loss contingencies related to litigation. Corning has been named by the Environmental Protection Agency (“the Agency”) under the Superfund Act, or by state governments under similar state laws, as a potentially responsible party for 17 active hazardous waste sites. Under the Superfund Act, all parties who may have contributed any waste to a hazardous waste site, identified by the Agency, are jointly and severally liable for the cost of cleanup unless the Agency agrees otherwise. It is Corning’s policy to accrue for its estimated liability related to Superfund sites and other environmental liabilities related to property owned by Corning based on expert analysis and continual monitoring by both internal and external consultants. At March 31, 2016 and December 31, 2015, Corning had accrued approximately $36 million (undiscounted) and $37 million (undiscounted), respectively, for the estimated liability for environmental cleanup and related litigation. Based upon the information developed to date, management believes that the accrued reserve is a reasonable estimate of the Company’s liability and that the risk of an additional loss in an amount materially higher than that accrued is remote. The ability of certain subsidiaries and affiliated companies to transfer funds is limited by provisions of foreign government regulations, affiliate agreements and certain loan agreements. At March 31, 2016 and December 31, 2015, the amount of equity subject to such restrictions for consolidated subsidiaries and affiliated companies was not significant. While this amount is legally restricted, it does not result in operational difficulties since we have generally permitted subsidiaries to retain a majority of equity to support their growth programs.

Note 4 - Debt

Note 4 - Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	4. Debt Based on borrowing rates currently available to us for loans with similar terms and maturities, the fair value of long-term debt was $4.2 billion at March 31, 2016 and $4.1 billion at December 31, 2015, compared to recorded book values of $3.9 billion at March 31, 2016 and December 31, 2015. The Company measures the fair value of its long-term debt using Level 2 inputs based primarily on current market yields for its existing debt traded in the secondary market. At March 31, 2016, Corning had $500 million in outstanding commercial paper as part of the Company’s commercial paper program established in the second quarter of 2013. The estimated fair value of this commercial paper approximates its carrying value due to the short-term maturities.

Note 5 - Income Taxes

Note 5 - Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	5. Income Taxes Our provision for income taxes and the related effective income tax rates were as follows (in millions): Three months ended March 31, 2016 2015 Benefit (provision) for income taxes $ 304 $ (86) Effective (benefit) tax rate (45.2)% 17.4% For the three months ended March 31, 2016, the effective income tax rate differed from the U.S. statutory rate of 35% primarily due to the following benefits: · Rate differences on income (loss) of consolidated foreign companies, including the benefit of excess foreign tax credits resulting from the inclusion of high-taxed foreign earnings in U.S. income; and · The impact of equity in earnings of nonconsolidated affiliates reported in the financial statements, net of tax. For the three months ended March 31, 2015, the effective income tax rate differed from the U.S. statutory rate of 35% primarily due to the following benefits: · Rate differences on income (loss) of consolidated foreign companies, including the benefit of excess foreign tax credits resulting from the inclusion of high-taxed foreign earnings in U.S. income; and · The impact of equity in earnings of nonconsolidated affiliates reported in the financial statements, net of tax. These benefits were partially offset by a discrete tax charge of $11 million to restate deferred tax assets due to a law change enacted in Japan. Corning’s subsidiary in Taiwan is operating under tax holiday arrangements. The benefit of the arrangement phases out through 2018. The impact of the tax holiday on our effective tax rate is a reduction in the rate of .03 percentage points for the three months ended March 31, 2016 and March 31, 2015. Corning continues to indefinitely reinvest substantially all of its foreign earnings, with the exception of an immaterial amount of current earnings that have very low or no tax cost associated with their repatriation. Our current analysis indicates that we have sufficient U.S. liquidity, including borrowing capacity, to fund foreseeable U.S. cash needs without requiring the repatriation of foreign cash. Significant one time or unusual items that may impact our ability or intent to keep our foreign earnings and cash indefinitely reinvested include significant U.S. acquisitions, stock repurchases, shareholder dividends, changes in tax laws, derivative contract settlements or the development of tax planning ideas that allow us to repatriate earnings at minimal or no tax cost, and/or a change in our circumstances or economic conditions that negatively impact our ability to borrow or otherwise fund U.S. needs from existing U.S. sources. While it remains impracticable to calculate the tax cost of repatriating our total unremitted foreign earnings, such cost could be material to the results of operations of Corning in a particular period. While we expect the amount of unrecognized tax benefits to change in the next 12 months, we do not expect the change to have a significant impact on the results of operations or our financial position.

Note 6 - (Loss) Earnings Per Co

Note 6 - (Loss) Earnings Per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	6. (Loss) Earnings per Common Share The following table sets forth the computation of basic and diluted (loss) earnings per common share (in millions, except per share amounts): Three months ended March 31, 2016 2015 Net (loss) income attributable to Corning Incorporated $ (368) $ 407 Less: Series A convertible preferred stock dividend (24) (24) Net (loss) income available to common stockholders - basic (392) 383 Add: Series A convertible preferred stock dividend 24 Net (loss) income available to common stockholders - diluted $ (392) $ 407 Weighted-average common shares outstanding - basic 1,103 1,266 Effect of dilutive securities: Stock options and other dilutive securities 13 Series A convertible preferred stock 115 Weighted-average common shares outstanding - diluted 1,103 1,394 Basic (loss) earnings per common share $ (0.36) $ 0.30 Diluted (loss) earnings per common share $ (0.36) $ 0.29 Antidilutive potential shares excluded from diluted earnings per common share: Series A convertible preferred stock 115 Employee stock options and awards 47 14 Total 162 14

Note 7 - Available-for-Sale Inv

Note 7 - Available-for-Sale Investments	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	7. Available-for-Sale Investments The following is a summary of the fair value of available-for-sale investments (in millions): Amortized cost Fair value March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Bonds, notes and other securities: U.S. government and agencies $ 0 $ 100 $ 0 $ 100 Total short-term investments $ 0 $ 100 $ 0 $ 100 Asset-backed securities (1) $ 37 $ 37 $ 32 $ 33 Total long-term investments $ 37 $ 37 $ 32 $ 33 (1) Due after 10 years and are being reported at their final maturity dates. We do not intend to sell, nor do we believe it is more likely than not that we would be required to sell, the long-term investment asset-backed securities (which are collateralized by mortgages) before recovery of their amortized cost basis. It is possible that a significant degradation in the delinquency or foreclosure rates in the underlying assets could cause further temporary or other-than-temporary impairments in the future. For the three months ended March 31, 2016 and 2015, proceeds from sales and maturities of short-term investments totaled approximately $120 million and $300 million, respectively.

Note 8 - Inventories, Net of In

Note 8 - Inventories, Net of Inventory Reserves	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	8. Inventories, net of inventory reserves Inventories, net of inventory reserves comprise the following (in millions): March 31, 2016 December 31, 2015 Finished goods $ 630 $ 633 Work in process 281 264 Raw materials and accessories 247 200 Supplies and packing materials 295 288 Total inventories, net of inventory reserves $ 1,453 $ 1,385

Note 9 - Investments

Note 9 - Investments	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	9. Investments Dow Corning Corporation (“Dow Corning”) Dow Corning is a U.S.-based manufacturer of silicone products. Dow Corning’s results of operations follow (in millions): Three months ended March 31, 2016 2015 Statement of Operations: Net sales $ 1,316 $ 1,364 Gross profit (1) $ 350 $ 358 Net income attributable to Dow Corning $ 112 $ 185 Corning’s equity in earnings of Dow Corning $ 56 $ 92 (1) Gross profit for the three months ended March 31, 2016 includes research and development costs of $57 million (2015: $62 Dow Corning’s net income in the first quarter of 2015 includes pre-tax gains on settlements of long-term sales agreements in the amount of $178 million.

Note 10 - Goodwill and Other In

Note 10 - Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	10. Goodwill and Other Intangible Assets The carrying amount of goodwill by segment for the periods ended March 31, 2016 and December 31, 2015 is as follows (in millions): Optical Communications Display Technologies Specialty Materials Life Sciences All Other Total Balance at December 31, 2015 $ 439 $ 128 $ 150 $ 562 $ 101 $ 1,380 Foreign currency translation adjustment 6 2 8 3 19 Balance at March 31, 2016 $ 445 $ 130 $ 150 $ 570 $ 104 $ 1,399 Corning’s gross goodwill balances for the periods ended March 31, 2016 and December 31, 2015 each were $7.9 billion. Accumulated impairment losses were $6.5 billion for the periods ended March 31, 2016 and December 31, 2015, and were generated primarily through goodwill impairments related to the Optical Communications segment. Other intangible assets are as follows (in millions): March 31, 2016 December 31, 2015 Gross Accumulated amortization Net Gross Accumulated amortization Net Amortized intangible assets: Patents, trademarks, and trade names $ 356 $ 167 $ 189 $ 350 $ 162 $ 188 Customer lists and other 629 115 514 621 103 518 Total $ 985 $ 282 $ 703 $ 971 $ 265 $ 706 Corning’s amortized intangible assets are primarily related to the Optical Communications and Life Sciences segments. The net carrying amount of intangible assets decreased during the first three months of 2016, primarily due to amortization of $14 million partially offset by foreign currency translation adjustments of $10 million and acquisitions of $1 million. Amortization expense related to these intangible assets is estimated to be $61 million annually from 2016 to 2018, $60 million for 2019, and $55 million annually from 2020 to 2021.

Note 11 - Employee Retirement P

Note 11 - Employee Retirement Plans	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	11. Employee Retirement Plans The following table summarizes the components of net periodic benefit cost for Corning’s defined benefit pension and postretirement health care and life insurance plans (in millions): Pension benefits Postretirement benefits Three months ended March 31, Three months ended March 31, 2016 2015 2016 2015 Service cost $ 22 $ 23 $ 2 $ 3 Interest cost 31 36 7 8 Expected return on plan assets (42) (45) Amortization of net loss 1 Amortization of prior service cost (credit) 1 2 (1) (1) Recognition of actuarial loss 7 Total pension and postretirement benefit expense $ 19 $ 16 $ 8 $ 11

Note 12 - Other Liabilities

Note 12 - Other Liabilities	3 Months Ended
	Mar. 31, 2016
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	12. Other Liabilities Other liabilities follow (in millions): March 31, 2016 December 31, 2015 Current liabilities: Wages and employee benefits $ 341 $ 491 Income taxes 57 53 Asbestos litigation 238 238 Derivative instruments 112 55 Other current liabilities 453 471 Other accrued liabilities $ 1,201 $ 1,308 Non-current liabilities: Asbestos litigation $ 440 $ 440 Derivative instruments 612 88 Defined benefit pension plan liabilities 697 672 Other non-current liabilities 1,018 1,042 Other liabilities $ 2,767 $ 2,242 Asbestos Litigation Corning and PPG each own 50% of the capital stock of PCC. Over a period of more than two decades, PCC and several other defendants were named in numerous lawsuits involving claims alleging personal injury from exposure to asbestos. Refer to Note 3 (Commitments, Contingencies and Guarantees) to the consolidated financial statements for additional information on the asbestos litigation.

Note 13 - Hedging Activities

Note 13 - Hedging Activities	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	13. Hedging Activities Undesignated Hedges The table below includes a total gross notional value for the foreign currency hedges related to translated earnings of $20.8 billion at March 31, 2016 (at December 31, 2015: $12.0 billion), including zero-cost collars of $4.6 billion (at December 31, 2015: $5.6 billion) and average rate forwards of $16.2 billion (at December 31, 2015: $6.4 billion). With respect to the zero-cost collars, the gross notional amount includes the value of both the put and call options. However, due to the nature of the zero-cost collars, either the put or the call option can be exercised at maturity. As of March 31, 2016, the total net notional value of the zero-cost collars was $2.4 billion (at December 31, 2015: $2.9 billion). The following tables summarize the notional amounts and respective fair values of Corning’s derivative financial instruments on a gross basis for March 31, 2016 and December 31, 2015 (in millions): U.S. Dollar Asset derivatives Liability derivatives Gross notional amount Balance sheet location Fair value Balance sheet location Fair value March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Derivatives designated as hedging instruments Foreign exchange contracts $ 684 $ 782 Other current assets $ 5 Other accrued liabilities $ (26) $ (10) Other assets 1 Other liabilities (25) (23) Interest rate contracts 550 550 Other assets $ 7 Other liabilities (4) Derivatives not designated as hedging instruments Foreign exchange contracts 1,063 1,095 Other current assets 6 6 Other accrued liabilities (34) (12) Other liabilities (1) Translated earnings contracts 20,791 11,972 Other current assets 330 511 Other accrued liabilities (52) (33) Other assets 249 472 Other liabilities (586) (61) Total derivatives $23,088 $14,399 $592 $995 $(724) $(143) The following tables summarize the effect of designated derivative financial instruments on Corning’s consolidated financial statements for the three months ended March 31, 2016 and 2015 (in millions): Effect of designated derivative instruments on the consolidated financial statements for the quarter ended March 31 Derivatives in hedging relationships Gain/(loss) recognized in other comprehensive income (OCI) Location of gain/(loss) reclassified from accumulated OCI into income (effective) Gain/(loss) reclassified fromaccumulated OCI into income (effective) (1) 2016 2015 2016 2015 Interest rate hedges $ (13) Sales $ 1 $ 5 Cost of sales (5) 2 Foreign exchange contracts $ (24) 27 Total cash flow hedges $ (24) $ 14 $ (4) $ 7 (1) The amount of hedge ineffectiveness at March 31, 2016 and 2015 was insignificant. The following table summarizes the effect on the consolidated financial statements relating to Corning’s derivative financial instruments (in millions): Gain (loss) recognized in income Three months ended March 31, Undesignated derivatives Location 2016 2015 Foreign exchange contracts – balance sheet Foreign currency hedge (loss) gain, net $ (15) $ 11 Foreign exchange contracts – loans Foreign currency hedge (loss) gain, net (22) 2 Foreign currency hedges related to translated earnings Foreign currency hedge (loss) gain, net (857) 29 Total undesignated $ (894) $ 42

Note 14 - Fair Value Measuremen

Note 14 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	14. Fair Value Measurements Fair value standards under U.S. GAAP define fair value, establish a framework for measuring fair value in applying generally accepted accounting principles, and require disclosures about fair value measurements. The standards also identify two kinds of inputs that are used to determine the fair value of assets and liabilities: observable and unobservable. Observable inputs are based on market data or independent sources while unobservable inputs are based on the Company’s own market assumptions. Once inputs have been characterized, the inputs are prioritized into one of three broad levels (provided in the table below) used to measure fair value. Fair value standards apply whenever an entity is measuring fair value under other accounting pronouncements that require or permit fair value measurement and require the use of observable market data when available. The following tables provide fair value measurement information for the Company’s major categories of financial assets and liabilities measured on a recurring basis (in millions): Fair value measurements at reporting date using March 31, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Current assets: Other current assets (1) $ 336 $ 336 Non-current assets: Other assets (1)(2) $ 540 $ 288 $ 252 Current liabilities: Other accrued liabilities (1) $ 112 $ 112 Non-current liabilities: Other liabilities (1)(3) $ 620 $ 612 $ 8 (1) Derivative assets and liabilities include foreign exchange forward and zero-cost collar contracts, and interest rate swaps which are measured using observable quoted prices for similar assets and liabilities. (2) Other assets include asset-backed securities which are measured using observable quoted prices for similar assets and contingent consideration assets which are measured by applying an option pricing model using projected future revenue. (3) Other liabilities include Level 3 contingent consideration payables which are measured by applying an option pricing model using projected future revenues. Fair value measurements at reporting date using December 31, 2015 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Current assets: Short-term investments $ 100 $ 100 Other current assets (1) $ 522 $ 522 Non-current assets: Other assets (1)(2) $ 752 $ 506 $ 246 Current liabilities: Other accrued liabilities (1) $ 55 $ 55 Non-current liabilities: Other liabilities (1)(3) $ 98 $ 88 $ 10 (1) Derivative assets and liabilities include foreign exchange contracts which are measured using observable quoted prices for similar assets and liabilities. (2) Other assets include asset-backed securities which are measured using observable quoted prices for similar assets and contingent consideration assets or liabilities which are measured by applying an option pricing model using projected future revenues. (3) Other liabilities include Level 3 contingent consideration payables which are measured by applying an option pricing model using projected future revenues. As a result of the acquisition of Samsung Corning Precision Materials in January 2014, the Company has contingent consideration that was measured using unobservable (Level 3) inputs. Changes in the fair value of the contingent consideration in future periods are valued using an option pricing model and are recorded in Corning’s results in the period of the change. As of March 31, 2016 and December 31, 2015, the fair value of the potential receipt of the contingent consideration in 2018 was $252 million and $246 million, respectively. As a result of the acquisitions of iBwave Solutions Inc. and the fiber-optics business of Samsung Electronics Co., Ltd., the Company has contingent consideration that was measured using unobservable (Level 3) inputs. As of March 31, 2016, the fair value of the contingent consideration payable is $8 million. There were no significant financial assets and liabilities measured on a nonrecurring basis during the quarter ended March 31, 2016.

Note 15 - Shareholders' Equity

Note 15 - Shareholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	15. Shareholders’ Equity Fixed Rate Cumulative Convertible Preferred Stock, Series A On January 15, 2014, Corning designated a new series of its preferred stock as Fixed Rate Cumulative Convertible Preferred Stock, Series A, par value $100 per share, and issued 2,300 shares of Preferred Stock at an issue price of $1 million per share, for an aggregate issue price of $2.3 billion. The Preferred Stock is convertible at the option of the holder and the Company upon certain events, at a conversion rate of 50,000 shares of Corning’s common stock per one share of Preferred Stock, subject to certain anti-dilution provisions. As of March 31, 2016, the Preferred Stock has not been converted, and none of the anti-dilution provisions have been triggered. Share Repurchases On July 15, 2015, Corning’s Board of Directors approved a $2 billion share repurchase program (the “July 2015 Repurchase Program”) and on October 26, 2015 the Board of Directors authorized an additional $4 billion share repurchase program (together with the July 2015 Repurchase Program, the “2015 Repurchase Program”). The 2015 Repurchase Program permits Corning to effect repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, advance repurchase agreements and/or other arrangements. On October 28, 2015, Corning entered into an accelerated share repurchase agreement (“ASR”) with Morgan Stanley & Co. LLC (“Morgan Stanley”) to repurchase $1.25 billion of Corning’s common stock (the “2015 ASR agreement”). The 2015 ASR agreement was executed under the July 2015 Repurchase Program. On January 19, 2016, the 2015 ASR agreement was completed and Corning received an additional 15.9 million shares on January 22, 2016 to settle the 2015 ASR agreement. In addition to the shares repurchased through the 2015 ASR agreement, during the three months ended March 31, 2016, we repurchased 39.8 million shares of common stock for $751 million as part of the 2015 Repurchase Program. Accumulated Other Comprehensive Income In the first three months of 2016 and 2015, the primary changes in accumulated other comprehensive income (“AOCI”) were related to the foreign currency translation component. A summary of changes in the foreign currency translation adjustment component of AOCI is as follows (in millions): Three months ended March 31, 2016 2015 Beginning balance $ (1,171) $ (581) Other comprehensive income (loss) 385 (174) Equity method affiliates 43 (82) Net current-period other comprehensive income (loss) 428 (256) Ending balance $ (743) $ (837) There were no material tax effects related to foreign currency translation gains and losses.

Note 16 - Share-based Compensat

Note 16 - Share-based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	16. Share-based Compensation Stock Compensation Plans The Company measures and recognizes compensation cost for all share-based payment awards made to employees and directors based on estimated fair values. Fair values for stock options were estimated using a multiple-point Black-Scholes valuation model. Share-based compensation cost was approximately $9 million and $10 million for the three months ended March 31, 2016 and 2015, respectively. Amounts for all periods presented included compensation expense for employee stock options and time-based restricted stock and restricted stock units. Stock Options Corning’s stock option plans provide non-qualified and incentive stock options to purchase authorized but unissued shares, or treasury shares, at the market price on the grant date and generally become exercisable in installments from one to five years from the grant date. The maximum term of non-qualified and incentive stock options is 10 years from the grant date. The following table summarizes information concerning stock options outstanding including the related transactions under the stock option plans for the three months ended March 31, 2016: Number of Shares (in thousands) Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term in Years Aggregate Intrinsic Value (in thousands) Options Outstanding as of December 31, 2015 42,738 $19.40 Granted 511 20.89 Exercised (820) 12.25 Forfeited and Expired (1,643) 23.15 Options Outstanding as of March 31, 2016 40,786 19.41 3.89 $125,625 Options Expected to Vest as of March 31, 2016 40,746 19.41 3.89 125,611 Options Exercisable as of March 31, 2016 34,393 19.58 3.12 109,058 The aggregate intrinsic value (market value of stock less option exercise price) in the preceding table represents the total pretax intrinsic value, based on the Company’s closing stock price on March 31, 2016, which would have been received by the option holders had all option holders exercised their “in-the-money” options as of that date. As of March 31, 2016, there was approximately $7 million of unrecognized compensation cost related to stock options granted under the plans. The cost is expected to be recognized over a weighted-average period of 1.8 years. Compensation cost related to stock options was approximately $3 million and $4 million for the three months ended March 31, 2016 and 2015, respectively. Proceeds received from the exercise of stock options were $9 million and $89 million for the three months ended March 31, 2016 and 2015, respectively. Proceeds received from the exercise of stock options were included in financing activities on the Company’s Consolidated Statements of Cash Flows. The total intrinsic value of options exercised for the three months ended March 31, 2016 and 2015 was approximately $6 million and $40 million, respectively. The income tax benefit realized from share-based compensation was not significant for the three months ended March 31, 2016 and 2015, respectively. Refer to Note 5 (Income Taxes) to the consolidated financial statements. The following inputs were used for the valuation of option grants under our stock option plans: Three months ended March 31, 2016 2015 Expected volatility 43.1% 44.9% Weighted-average volatility 43.1% 44.9% Expected dividends 2.94% 1.92% Risk-free rate 1.5% 1.9% Average risk-free rate 1.5% 1.9% Expected term (in years) 7.4 7.2 Pre-vesting departure rate 0.6% 0.6% Expected volatility is based on a blended approach defined as the weighted average of the short-term implied volatility, the most recent volatility for the period equal to the expected term, and the most recent 15-year historical volatility. The expected term assumption is the period of time the options are expected to be outstanding, and is calculated using a combination of historical exercise experience adjusted to reflect the current vesting period of options being valued, and partial life cycles of outstanding options. The risk-free rate assumption is the implied rate for a zero-coupon U.S. Treasury bond with a term equal to the option’s expected term. Incentive Stock Plans The Corning Incentive Stock Plan permits restricted stock and restricted stock unit grants, either determined by specific performance goals or issued directly, in most instances, subject to the possibility of forfeiture and without cash consideration. Restricted stock and restricted stock units under the Incentive Stock Plan are granted at the closing market price on the grant date, contingently vest over a period of generally one to ten years, and generally have contractual lives of one to ten years. The fair value of each restricted stock grant or restricted stock unit awarded under the Incentive Stock Plan is based on the grant date closing price of the Company’s stock. Time-Based Restricted Stock and Restricted Stock Units: Time-based restricted stock and restricted stock units are issued by the Company on a discretionary basis, and are payable in shares of the Company’s common stock upon vesting. The fair value is based on the closing market price of the Company’s stock on the grant date. Compensation cost is recognized over the requisite vesting period and adjusted for actual forfeitures before vesting. The following table represents a summary of the status of the Company’s non-vested time-based restricted stock and restricted stock units as of December 31, 2015, and changes which occurred during the three months ended March 31, 2016: Shares (000’s) Weighted Average Grant-Date Fair Value Non-vested shares and share units at December 31, 2015 5,242 $ 17.91 Granted 1,162 20.59 Vested (402) 15.95 Forfeited (29) 20.73 Non-vested shares and share units at March 31, 2016 5,973 $ 18.55 As of March 31, 2016, there was approximately $44 million of unrecognized compensation cost related to non-vested time-based restricted stock and restricted stock units compensation arrangements granted under the Plan. The cost is expected to be recognized over a weighted-average period of 1.9 years. Compensation cost related to time-based restricted stock and restricted stock units was approximately $6 million for each of the three month periods ended March 31, 2016 and March 31, 2015.

Note 17 - Reportable Segments

Note 17 - Reportable Segments	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	17. Reportable Segments Our reportable segments are as follows: · Display Technologies – manufactures glass substrates primarily for flat panel liquid crystal displays. · Optical Communications – manufactures carrier and enterprise network components for the telecommunications industry. · Environmental Technologies – manufactures ceramic substrates and filters for automotive and diesel emission control applications. · Specialty Materials – manufactures products that provide more than 150 material formulations for glass, glass ceramics and fluoride crystals to meet demand for unique customer needs. · Life Sciences – manufactures glass and plastic labware, equipment, media and reagents enabling workflow solutions for scientific applications. All other segments that do not meet the quantitative threshold for separate reporting have been grouped as “All Other.” This group is primarily comprised of the results of Corning’s Pharmaceutical Technologies business, which consists of a pharmaceutical glass business and a glass tubing business used in the pharmaceutical packaging industry. This segment also includes Corning Precision Materials’ non-LCD business and new product lines and development projects such as laser technologies, advanced flow reactors and adjacency businesses in pursuit of thin, strong glass, as well as certain corporate investments such as Eurokera and Keraglass equity affiliates. We prepared the financial results for our reportable segments on a basis that is consistent with the manner in which we internally disaggregate financial information to assist in making internal operating decisions. We included the earnings of equity affiliates that are closely associated with our reportable segments in the respective segment’s net income. We have allocated certain common expenses among reportable segments differently than we would for stand-alone financial information. Segment net income may not be consistent with measures used by other companies. The accounting policies of our reportable segments are the same as those applied in the consolidated financial statements. Reportable Segments Display Technologies Optical Communications Environmental Technologies Specialty Materials Life Sciences All Other Total Three months ended March 31, 2016 Net sales $ 705 $ 609 $ 264 $ 227 $ 204 $ 38 $ 2,047 Depreciation (1) $ 151 $ 41 $ 32 $ 28 $ 15 $ 11 $ 278 Amortization of purchased intangibles $ 7 $ 5 $ 2 $ 14 Research, development and engineering expenses (2) $ 18 $ 37 $ 25 $ 31 $ 6 $ 47 $ 164 Restructuring, impairment and other charges $ 4 $ 6 $ 5 $ 12 $ 3 $ 42 $ 72 Equity in earnings of affiliated companies $ 3 $ 3 Income tax (provision) benefit $ (93) $ (11) $ (16) $ (12) $ (6) $ 43 $ (95) Net income (loss) (3) $ 209 $ 17 $ 34 $ 26 $ 12 $ (85) $ 213 Three months ended March 31, 2015 Net sales $ 808 $ 697 $ 282 $ 272 $ 197 $ 9 $ 2,265 Depreciation (1) $ 156 $ 38 $ 29 $ 26 $ 15 $ 9 $ 273 Amortization of purchased intangibles $ 6 $ 5 $ 11 Research, development and engineering expenses (2) $ 24 $ 33 $ 23 $ 31 $ 5 $ 45 $ 161 Restructuring, impairment and other charges $ (1) $ (1) Equity in earnings of affiliated companies $ (2) $ 2 Income tax (provision) benefit $ (132) $ (29) $ (23) $ (21) $ (8) $ 23 $ (190) Net income (loss) (3) $ 294 $ 57 $ 48 $ 38 $ 16 $ (48) $ 405 (1) Depreciation expense for Corning’s reportable segments includes an allocation of depreciation of corporate property not specifically identifiable to a segment. (2) Research, development and engineering expenses include direct project spending that is identifiable to a segment. (3) Many of Corning’s administrative and staff functions are performed on a centralized basis. Where practicable, Corning charges these expenses to segments based upon the extent to which each business uses a centralized function. Other staff functions, such as corporate finance, human resources and legal, are allocated to segments, primarily as a percentage of sales. Expenses that are not allocated to the segments are included in the reconciliation of reportable net segment net income to consolidated net income below. A reconciliation of reportable segment net income to consolidated net income follows (in millions): Three months ended March 31, 2016 2015 Net income of reportable segments $ 298 $ 453 Net loss of All Other (85) (48) Unallocated amounts: Net financing costs (1) (29) (24) Stock-based compensation expense (9) (10) Exploratory research (27) (26) Corporate contributions (7) (12) Equity in earnings of affiliated companies, net of impairments (2) 56 94 Unrealized loss on foreign currency hedges related to translated earnings (950) (120) Income tax benefit 401 102 Other corporate items (16) (2) Net (loss) income $ (368) $ 407 (1) Net financing costs include interest income, interest expense, and interest costs and investment gains and losses associated with benefit plans. (2) Primarily represents the equity earnings of Dow Corning.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Basis of Presentation In these notes, the terms “Corning,” “Company,” “we,” “us,” or “our” mean Corning Incorporated and subsidiary companies. The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been omitted or condensed. These interim consolidated financial statements should be read in conjunction with Corning’s consolidated financial statements and notes thereto included in its Annual Report on Form 10-K for the year ended December 31, 2015 (“2015 Form 10-K”). The unaudited consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of operations, financial position and cash flows for the interim periods presented. All such adjustments are of a normal recurring nature. The results for interim periods are not necessarily indicative of results which may be expected for any other interim period or for the full year. Certain prior year amounts have been reclassified to conform to the current-year presentation. These reclassifications had no impact on our results of operations, financial position, or changes in shareholders’ equity.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. (“ASU”) 2014-09, Revenue from Contracts with Customers, as a new Topic, Accounting Standards Codification (“ASC”) Topic 606. The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU originally was effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. This ASU shall be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), deferring the effective date of ASU 2014-09 by one year. We can elect to adopt the provisions of ASU 2014-09 for annual periods beginning after December 15, 2017, including interim periods within that reporting period. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. We are currently assessing the adoption date and potential impact of adopting ASU 2014-09 on our financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes all existing guidance on accounting for leases in ASC Topic 840. ASU 2016-02 is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. ASU 2016-02 will continue to classify leases as either finance or operating, with classification affecting the pattern of expense recognition in the statement of income. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. ASU 2016-02 is required to be applied with a modified retrospective approach to each prior reporting period presented with various optional practical expedients. We are currently assessing the adoption date and the potential impact of adopting ASU 2016-02 on our financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, including interim periods within those annual periods. If an entity early adopts in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period and the entity must adopt all of the amendments from ASU 2016-09 in the same period. We are currently assessing the adoption date and the potential impact of adopting ASU 2016-09 on our financial statements and related disclosures.

Note 2 - Restructuring, Impai25

Note 2 - Restructuring, Impairment and Other Charges (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	Reserve at January 1, 2016 Net Charges/ Reversals Non-cash adjustments Cash payments Reserve at March 31, 2016 Restructuring: Employee related costs $ 3 $ 15 $ (1) $ (2) $ 15 Other charges 1 (1) Total restructuring activity $ 3 $ 16 $ (1) $ (3) $ 15 Disposal of long-lived assets $ 64 Total restructuring, impairment and other charges $ 80
Restructuring and Related Costs [Table Text Block]	Operating segment Employee- related and other charges Display Technologies $ 4 Optical Communications 6 Environmental Technologies 5 Specialty Materials 12 Life Sciences 3 All Other 42 Corporate 8 Total restructuring, impairment and other charges $ 80

Note 5 - Income Taxes (Tables)

Note 5 - Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provisions and Rates [Table Text Block]	Three months ended March 31, 2016 2015 Benefit (provision) for income taxes $ 304 $ (86) Effective (benefit) tax rate (45.2)% 17.4%

Note 6 - (Loss) Earnings Per 27

Note 6 - (Loss) Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended March 31, 2016 2015 Net (loss) income attributable to Corning Incorporated $ (368) $ 407 Less: Series A convertible preferred stock dividend (24) (24) Net (loss) income available to common stockholders - basic (392) 383 Add: Series A convertible preferred stock dividend 24 Net (loss) income available to common stockholders - diluted $ (392) $ 407 Weighted-average common shares outstanding - basic 1,103 1,266 Effect of dilutive securities: Stock options and other dilutive securities 13 Series A convertible preferred stock 115 Weighted-average common shares outstanding - diluted 1,103 1,394 Basic (loss) earnings per common share $ (0.36) $ 0.30 Diluted (loss) earnings per common share $ (0.36) $ 0.29 Antidilutive potential shares excluded from diluted earnings per common share: Series A convertible preferred stock 115 Employee stock options and awards 47 14 Total 162 14

Note 7 - Available-for-Sale I28

Note 7 - Available-for-Sale Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	Amortized cost Fair value March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Bonds, notes and other securities: U.S. government and agencies $ 0 $ 100 $ 0 $ 100 Total short-term investments $ 0 $ 100 $ 0 $ 100 Asset-backed securities (1) $ 37 $ 37 $ 32 $ 33 Total long-term investments $ 37 $ 37 $ 32 $ 33

Note 8 - Inventories, Net of 29

Note 8 - Inventories, Net of Inventory Reserves (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	March 31, 2016 December 31, 2015 Finished goods $ 630 $ 633 Work in process 281 264 Raw materials and accessories 247 200 Supplies and packing materials 295 288 Total inventories, net of inventory reserves $ 1,453 $ 1,385

Note 9 - Investments (Tables)

Note 9 - Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Affiliate Result of Operations [Table Text Block]	Three months ended March 31, 2016 2015 Statement of Operations: Net sales $ 1,316 $ 1,364 Gross profit (1) $ 350 $ 358 Net income attributable to Dow Corning $ 112 $ 185 Corning’s equity in earnings of Dow Corning $ 56 $ 92

Note 10 - Goodwill and Other 31

Note 10 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	Optical Communications Display Technologies Specialty Materials Life Sciences All Other Total Balance at December 31, 2015 $ 439 $ 128 $ 150 $ 562 $ 101 $ 1,380 Foreign currency translation adjustment 6 2 8 3 19 Balance at March 31, 2016 $ 445 $ 130 $ 150 $ 570 $ 104 $ 1,399
Schedule of Finite-Lived Intangible Assets [Table Text Block]	March 31, 2016 December 31, 2015 Gross Accumulated amortization Net Gross Accumulated amortization Net Amortized intangible assets: Patents, trademarks, and trade names $ 356 $ 167 $ 189 $ 350 $ 162 $ 188 Customer lists and other 629 115 514 621 103 518 Total $ 985 $ 282 $ 703 $ 971 $ 265 $ 706

Note 11 - Employee Retirement32

Note 11 - Employee Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	Pension benefits Postretirement benefits Three months ended March 31, Three months ended March 31, 2016 2015 2016 2015 Service cost $ 22 $ 23 $ 2 $ 3 Interest cost 31 36 7 8 Expected return on plan assets (42) (45) Amortization of net loss 1 Amortization of prior service cost (credit) 1 2 (1) (1) Recognition of actuarial loss 7 Total pension and postretirement benefit expense $ 19 $ 16 $ 8 $ 11

Note 12 - Other Liabilities (Ta

Note 12 - Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities [Table Text Block]	March 31, 2016 December 31, 2015 Current liabilities: Wages and employee benefits $ 341 $ 491 Income taxes 57 53 Asbestos litigation 238 238 Derivative instruments 112 55 Other current liabilities 453 471 Other accrued liabilities $ 1,201 $ 1,308 Non-current liabilities: Asbestos litigation $ 440 $ 440 Derivative instruments 612 88 Defined benefit pension plan liabilities 697 672 Other non-current liabilities 1,018 1,042 Other liabilities $ 2,767 $ 2,242

Note 13 - Hedging Activities (T

Note 13 - Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Note 13 - Hedging Activities (Tables) [Line Items]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	U.S. Dollar Asset derivatives Liability derivatives Gross notional amount Balance sheet location Fair value Balance sheet location Fair value March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Derivatives designated as hedging instruments Foreign exchange contracts $ 684 $ 782 Other current assets $ 5 Other accrued liabilities $ (26) $ (10) Other assets 1 Other liabilities (25) (23) Interest rate contracts 550 550 Other assets $ 7 Other liabilities (4) Derivatives not designated as hedging instruments Foreign exchange contracts 1,063 1,095 Other current assets 6 6 Other accrued liabilities (34) (12) Other liabilities (1) Translated earnings contracts 20,791 11,972 Other current assets 330 511 Other accrued liabilities (52) (33) Other assets 249 472 Other liabilities (586) (61) Total derivatives $23,088 $14,399 $592 $995 $(724) $(143)
Designated as Hedging Instrument [Member]
Note 13 - Hedging Activities (Tables) [Line Items]
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Effect of designated derivative instruments on the consolidated financial statements for the quarter ended March 31 Derivatives in hedging relationships Gain/(loss) recognized in other comprehensive income (OCI) Location of gain/(loss) reclassified from accumulated OCI into income (effective) Gain/(loss) reclassified fromaccumulated OCI into income (effective) (1) 2016 2015 2016 2015 Interest rate hedges $ (13) Sales $ 1 $ 5 Cost of sales (5) 2 Foreign exchange contracts $ (24) 27 Total cash flow hedges $ (24) $ 14 $ (4) $ 7
Not Designated as Hedging Instrument [Member]
Note 13 - Hedging Activities (Tables) [Line Items]
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Gain (loss) recognized in income Three months ended March 31, Undesignated derivatives Location 2016 2015 Foreign exchange contracts – balance sheet Foreign currency hedge (loss) gain, net $ (15) $ 11 Foreign exchange contracts – loans Foreign currency hedge (loss) gain, net (22) 2 Foreign currency hedges related to translated earnings Foreign currency hedge (loss) gain, net (857) 29 Total undesignated $ (894) $ 42

Note 14 - Fair Value Measurem35

Note 14 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair value measurements at reporting date using March 31, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Current assets: Other current assets (1) $ 336 $ 336 Non-current assets: Other assets (1)(2) $ 540 $ 288 $ 252 Current liabilities: Other accrued liabilities (1) $ 112 $ 112 Non-current liabilities: Other liabilities (1)(3) $ 620 $ 612 $ 8 Fair value measurements at reporting date using December 31, 2015 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Current assets: Short-term investments $ 100 $ 100 Other current assets (1) $ 522 $ 522 Non-current assets: Other assets (1)(2) $ 752 $ 506 $ 246 Current liabilities: Other accrued liabilities (1) $ 55 $ 55 Non-current liabilities: Other liabilities (1)(3) $ 98 $ 88 $ 10 (3) Other liabilities include Level 3 contingent consideration payables which are measured by applying an option pricing model using projected future revenues.

Note 15 - Shareholders' Equity

Note 15 - Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Comprehensive Income (Loss) [Table Text Block]	Three months ended March 31, 2016 2015 Beginning balance $ (1,171) $ (581) Other comprehensive income (loss) 385 (174) Equity method affiliates 43 (82) Net current-period other comprehensive income (loss) 428 (256) Ending balance $ (743) $ (837)

Note 16 - Share-based Compens37

Note 16 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Shares (in thousands) Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term in Years Aggregate Intrinsic Value (in thousands) Options Outstanding as of December 31, 2015 42,738 $19.40 Granted 511 20.89 Exercised (820) 12.25 Forfeited and Expired (1,643) 23.15 Options Outstanding as of March 31, 2016 40,786 19.41 3.89 $125,625 Options Expected to Vest as of March 31, 2016 40,746 19.41 3.89 125,611 Options Exercisable as of March 31, 2016 34,393 19.58 3.12 109,058
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three months ended March 31, 2016 2015 Expected volatility 43.1% 44.9% Weighted-average volatility 43.1% 44.9% Expected dividends 2.94% 1.92% Risk-free rate 1.5% 1.9% Average risk-free rate 1.5% 1.9% Expected term (in years) 7.4 7.2 Pre-vesting departure rate 0.6% 0.6%
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Shares (000’s) Weighted Average Grant-Date Fair Value Non-vested shares and share units at December 31, 2015 5,242 $ 17.91 Granted 1,162 20.59 Vested (402) 15.95 Forfeited (29) 20.73 Non-vested shares and share units at March 31, 2016 5,973 $ 18.55

Note 17 - Reportable Segments (

Note 17 - Reportable Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Display Technologies Optical Communications Environmental Technologies Specialty Materials Life Sciences All Other Total Three months ended March 31, 2016 Net sales $ 705 $ 609 $ 264 $ 227 $ 204 $ 38 $ 2,047 Depreciation (1) $ 151 $ 41 $ 32 $ 28 $ 15 $ 11 $ 278 Amortization of purchased intangibles $ 7 $ 5 $ 2 $ 14 Research, development and engineering expenses (2) $ 18 $ 37 $ 25 $ 31 $ 6 $ 47 $ 164 Restructuring, impairment and other charges $ 4 $ 6 $ 5 $ 12 $ 3 $ 42 $ 72 Equity in earnings of affiliated companies $ 3 $ 3 Income tax (provision) benefit $ (93) $ (11) $ (16) $ (12) $ (6) $ 43 $ (95) Net income (loss) (3) $ 209 $ 17 $ 34 $ 26 $ 12 $ (85) $ 213 Three months ended March 31, 2015 Net sales $ 808 $ 697 $ 282 $ 272 $ 197 $ 9 $ 2,265 Depreciation (1) $ 156 $ 38 $ 29 $ 26 $ 15 $ 9 $ 273 Amortization of purchased intangibles $ 6 $ 5 $ 11 Research, development and engineering expenses (2) $ 24 $ 33 $ 23 $ 31 $ 5 $ 45 $ 161 Restructuring, impairment and other charges $ (1) $ (1) Equity in earnings of affiliated companies $ (2) $ 2 Income tax (provision) benefit $ (132) $ (29) $ (23) $ (21) $ (8) $ 23 $ (190) Net income (loss) (3) $ 294 $ 57 $ 48 $ 38 $ 16 $ (48) $ 405
Reconciliation of Net Profit Loss from Segments To Consolidated [Table Text Block]	Three months ended March 31, 2016 2015 Net income of reportable segments $ 298 $ 453 Net loss of All Other (85) (48) Unallocated amounts: Net financing costs (1) (29) (24) Stock-based compensation expense (9) (10) Exploratory research (27) (26) Corporate contributions (7) (12) Equity in earnings of affiliated companies, net of impairments (2) 56 94 Unrealized loss on foreign currency hedges related to translated earnings (950) (120) Income tax benefit 401 102 Other corporate items (16) (2) Net (loss) income $ (368) $ 407

Note 2 - Restructuring, Impai39

Note 2 - Restructuring, Impairment and Other Charges (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring and Related Activities [Abstract]
Total restructuring, impairment and other charges	$ 80
Expected Cash Expenditures for Restructuring Costs	$ 15

Note 2 - Restructuring, Impai40

Note 2 - Restructuring, Impairment and Other Charges (Details) - Restructuring, Impairment and Other Charges - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring:
Reserve	$ 3
Net Charges/Reversals	16
Non-cash adjustments	(1)
Cash payments	(3)	$ (13)
Reserve	15
Disposal of long-lived assets	64
Total restructuring, impairment and other charges	80
Employee Severance [Member]
Restructuring:
Reserve	3
Net Charges/Reversals	15
Non-cash adjustments	(1)
Cash payments	(2)
Reserve	15
Other Restructuring [Member]
Restructuring:
Net Charges/Reversals	1
Cash payments	$ (1)

Note 2 - Restructuring, Impai41

Note 2 - Restructuring, Impairment and Other Charges (Details) - Year-to-date Cost for Reportable Segments $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	$ 80
Display Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	4
Optical Communications [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	6
Environmental Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	5
Specialty Materials [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	12
Life Sciences [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	3
Other Segments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	42
Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other charges	$ 8

Note 3 - Commitments, Conting42

Note 3 - Commitments, Contingencies, and Guarantees (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Nov. 12, 2013USD ($)	Apr. 16, 2000USD ($)
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Accrual, Noncurrent	$ 440	$ 440
Loss Contingency, Accrual, Current	238	238
Recorded Unconditional Purchase Obligation	$ 249	220
Number of Hazardous Waste Sites	17
Contingent Guarantees [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 179	184
Pittsburgh Corning Corporation (PCC) [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Equity Method Investments				$ 0
Pittsburgh Corning Europe (PCE) [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Equity Method Investments, Fair Value Disclosure	$ 237	238
Equity Method Investments	159	154
Environmental Cleanup And Related Litigation [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Accrual for Environmental Loss Contingencies	36	37
Asbestos Litigation [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Accrual, Noncurrent	440
Asbestos Litigation [Member] | Amended Pittsburgh Corning Corporation Plan [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Required Payments Per Reorganization Plan			$ 290
Asbestos Litigation [Member] | First Payment [Member] | Amended Pittsburgh Corning Corporation Plan [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Required Payments Per Reorganization Plan			70
Asbestos Litigation [Member] | First Subsequent Anniversary [Member] | Amended Pittsburgh Corning Corporation Plan [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Required Payments Per Reorganization Plan			35
Asbestos Litigation [Member] | Second Subsequent Anniversary [Member] | Amended Pittsburgh Corning Corporation Plan [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Required Payments Per Reorganization Plan			50
Asbestos Litigation [Member] | Third Subsequent Anniversary [Member] | Amended Pittsburgh Corning Corporation Plan [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Required Payments Per Reorganization Plan			35
Asbestos Litigation [Member] | Fourth Subsequent Anniversary [Member] | Amended Pittsburgh Corning Corporation Plan [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Required Payments Per Reorganization Plan			50
Asbestos Litigation [Member] | Fifth Subsequent Anniversary [Member] | Amended Pittsburgh Corning Corporation Plan [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Required Payments Per Reorganization Plan			$ 50
Asbestos Litigation [Member] | Amended PCC Plan and Non-PCC Asbestos Claims [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Estimate of Possible Loss	677	$ 678
Asbestos Litigation [Member] | Fixed Series of Payment [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Accrual, Noncurrent	290
Asbestos Litigation [Member] | Non-PCC Asbestos Litigation [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Accrual, Noncurrent	150
Asbestos Litigation [Member] | Pittsburgh Corning Europe (PCE) [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Accrual, Current	$ 237
Asbestos Litigation [Member] | Pittsburgh Corning Corporation (PCC) [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Loss Contingency, Pending Claims, Number				11,800
Non-PCC Asbestos Litigation [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Number of Other Cases Currently Involved Alleging Injuries from Asbestos and Similar Amounts of Monetary Damages Per Case	9,700
Number of Claims in Other Cases Currently Involved Alleging Injuries from Asbestos and Similar Amounts of Monetary Damages Per Case	37,300
Insurance Recoveries	$ 19
Loss Contingency Accrual, Period Increase (Decrease)	$ 150
Undiscounted Projection of Claims and Related Legal Fees, Period	20 years
PPG Industries, Inc. [Member] | Pittsburgh Corning Corporation (PCC) [Member]
Note 3 - Commitments, Contingencies, and Guarantees (Details) [Line Items]
Equity Method Investment, Ownership Percentage	50.00%

Note 4 - Debt (Details)

Note 4 - Debt (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt Instrument, Fair Value Disclosure	$ 4,200	$ 4,100
Long-term Debt and Capital Lease Obligations	3,910	$ 3,890
Commercial Paper	$ 500

Note 5 - Income Taxes (Details)

Note 5 - Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Note 5 - Income Taxes (Details) [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%
National Tax Agency, Japan [Member]
Note 5 - Income Taxes (Details) [Line Items]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability (in Dollars)		$ 11
Foreign Tax Authority [Member]
Note 5 - Income Taxes (Details) [Line Items]
Effective Income Tax Rate Reconciliation, Tax Holiday, Percent	0.03%	0.03%

Note 5 - Income Taxes (Detail45

Note 5 - Income Taxes (Details) - Provision for Income Taxes - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Provision for Income Taxes [Abstract]
Benefit (provision) for income taxes	$ 304	$ (86)
Effective (benefit) tax rate	(45.20%)	17.40%

Note 6 - (Loss) Earnings Per 46

Note 6 - (Loss) Earnings Per Common Share (Details) - Computation of Basic and Diluted Earnings per Common Share - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Note 6 - (Loss) Earnings Per Common Share (Details) - Computation of Basic and Diluted Earnings per Common Share [Line Items]
Net (loss) income attributable to Corning Incorporated (in Dollars)	$ (368)	$ 407
Net (loss) income available to common stockholders - basic (in Dollars)	(392)	383
Net (loss) income available to common stockholders - diluted (in Dollars)	$ (392)	$ 407
Weighted-average common shares outstanding - basic	1,103	1,266
Effect of dilutive securities:
Weighted-average common shares outstanding - diluted	1,103	1,394
Basic (loss) earnings per common share (in Dollars per share)	$ (0.36)	$ 0.30
Diluted (loss) earnings per common share (in Dollars per share)	$ (0.36)	$ 0.29
Antidilutive potential shares excluded from diluted earnings per common share:
Anti-dilutive potential shares excluded from diluted earnings per common share	162	14
Convertible Preferred Stock, Series A [Member]
Antidilutive potential shares excluded from diluted earnings per common share:
Anti-dilutive potential shares excluded from diluted earnings per common share	115
Stock Compensation Plan [Member]
Antidilutive potential shares excluded from diluted earnings per common share:
Anti-dilutive potential shares excluded from diluted earnings per common share	47	14
Convertible Preferred Stock, Series A [Member]
Note 6 - (Loss) Earnings Per Common Share (Details) - Computation of Basic and Diluted Earnings per Common Share [Line Items]
Less: Series A convertible preferred stock dividend (in Dollars)	$ (24)	$ (24)
Add: Series A convertible preferred stock dividend (in Dollars)	$ 24	$ 24
Effect of dilutive securities:
Effect of dilutive securities		115
Stock Options and Other Dilutive Securities [Member]
Effect of dilutive securities:
Effect of dilutive securities		13

Note 7 - Available-for-Sale I47

Note 7 - Available-for-Sale Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Note 7 - Available-for-Sale Investments (Details) [Line Items]
Proceeds from Sale of Short-term Investments	$ 121	$ 282
Asset-backed Securities [Member]
Note 7 - Available-for-Sale Investments (Details) [Line Items]
Available-for-sale Securities, Maturity Term	10 years

Note 7 - Available-for-Sale I48

Note 7 - Available-for-Sale Investments (Details) - Summary of Fair Value of Available-for-Sale Investments - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015
US Government Agencies Debt Securities [Member]
Bonds, notes and other securities:
Amortized cost		$ 0	$ 100
Fair value		0	100
Total Short-Term Investments [Member]
Bonds, notes and other securities:
Amortized cost		0	100
Fair value		0	100
Asset-backed Securities [Member]
Bonds, notes and other securities:
Amortized cost	[1]	37	37
Fair value	[1]	32	33
Total Long-Term Investments [Member]
Bonds, notes and other securities:
Amortized cost		37	37
Fair value		$ 32	$ 33
[1]	Due after 10 years and are being reported at their final maturity dates.

Note 8 - Inventories, Net of 49

Note 8 - Inventories, Net of Inventory Reserves (Details) - Inventories, Net - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Inventories, Net [Abstract]
Finished goods	$ 630	$ 633
Work in process	281	264
Raw materials and accessories	247	200
Supplies and packing materials	295	288
Total inventories, net of inventory reserves	$ 1,453	$ 1,385

Note 9 - Investments (Details)

Note 9 - Investments (Details) - Dow Corning Corporation [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Note 9 - Investments (Details) [Line Items]
Research and Development Expense	$ 57	$ 62
Gain (Loss) on Contract Termination		$ 178

Note 9 - Investments (Details)

Note 9 - Investments (Details) - Results of Operations - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Statement of Operations:
Corning’s equity in earnings of Dow Corning		$ 59	$ 94
Dow Corning Corporation [Member]
Statement of Operations:
Net sales		1,316	1,364
Gross profit (1)	[1]	350	358
Net income attributable to Dow Corning		112	185
Corning’s equity in earnings of Dow Corning		$ 56	$ 92
[1]	Gross profit for the three months ended March 31, 2016 includes research and development costs of $57 million (2015: $62 million).

Note 10 - Goodwill and Other 52

Note 10 - Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Note 10 - Goodwill and Other Intangible Assets (Details) [Line Items]
Goodwill, Gross	$ 7,900		$ 7,900
Amortization of Intangible Assets	14	$ 12
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	10
Finite-lived Intangible Assets Acquired	1
Finite-Lived Intangible Assets, Amortization Expense, Year Two	61
Finite-Lived Intangible Assets, Amortization Expense, Year Three	61
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	61
Finite-Lived Intangible Assets, Amortization Expense, Year Four	60
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	55
Finite-Lived Intangible Assets, Amortization Expense, Year Five	55
Optical Communications [Member]
Note 10 - Goodwill and Other Intangible Assets (Details) [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	$ 6,500		$ 6,500

Note 10 - Goodwill and Other 53

Note 10 - Goodwill and Other Intangible Assets (Details) - Carrying Amount of Goodwill by Segment $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill [Line Items]
Balance at	$ 1,380
Foreign currency translation adjustment	19
Balance at	1,399
Optical Communications [Member]
Goodwill [Line Items]
Balance at	439
Foreign currency translation adjustment	6
Balance at	445
Display Technologies [Member]
Goodwill [Line Items]
Balance at	128
Foreign currency translation adjustment	2
Balance at	130
Specialty Materials [Member]
Goodwill [Line Items]
Balance at	150
Balance at	150
Life Sciences [Member]
Goodwill [Line Items]
Balance at	562
Foreign currency translation adjustment	8
Balance at	570
Other Segments [Member]
Goodwill [Line Items]
Balance at	101
Foreign currency translation adjustment	3
Balance at	$ 104

Note 10 - Goodwill and Other 54

Note 10 - Goodwill and Other Intangible Assets (Details) - Other Intangible Assets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Amortized intangible assets:
Other intangible assets, gross	$ 985	$ 971
Other intangible assets, accumulated amortization	282	265
Other intangible assets, net	703	706
Patents, Trademarks, and Trade Names [Member]
Amortized intangible assets:
Other intangible assets, gross	356	350
Other intangible assets, accumulated amortization	167	162
Other intangible assets, net	189	188
Customer Lists and Other [Member]
Amortized intangible assets:
Other intangible assets, gross	629	621
Other intangible assets, accumulated amortization	115	103
Other intangible assets, net	$ 514	$ 518

Note 11 - Employee Retirement55

Note 11 - Employee Retirement Plans (Details) - Summary of Net Periodic Benefit Cost - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Plan [Member]
Note 11 - Employee Retirement Plans (Details) - Summary of Net Periodic Benefit Cost [Line Items]
Service cost	$ 22	$ 23
Interest cost	31	36
Expected return on plan assets	(42)	(45)
Amortization of prior service cost (credit)	1	2
Recognition of actuarial loss	7
Total pension and postretirement benefit expense	19	16
Other Postretirement Benefit Plan [Member]
Note 11 - Employee Retirement Plans (Details) - Summary of Net Periodic Benefit Cost [Line Items]
Service cost	2	3
Interest cost	7	8
Amortization of net loss		1
Amortization of prior service cost (credit)	(1)	(1)
Total pension and postretirement benefit expense	$ 8	$ 11

Note 12 - Other Liabilities (De

Note 12 - Other Liabilities (Details) - Pittsburgh Corning Corporation (PCC) [Member]	Mar. 31, 2016
Note 12 - Other Liabilities (Details) [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
PPG Industries, Inc. [Member]
Note 12 - Other Liabilities (Details) [Line Items]
Equity Method Investment, Ownership Percentage	50.00%

Note 12 - Other Liabilities (57

Note 12 - Other Liabilities (Details) - Other Liabilities - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current liabilities:
Wages and employee benefits	$ 341	$ 491
Income taxes	57	53
Asbestos litigation	238	238
Derivative instruments	112	55
Other current liabilities	453	471
Other accrued liabilities	1,201	1,308
Non-current liabilities:
Asbestos litigation	440	440
Derivative instruments	612	88
Defined benefit pension plan liabilities	697	672
Other non-current liabilities	1,018	1,042
Other liabilities	$ 2,767	$ 2,242

Note 13 - Hedging Activities (D

Note 13 - Hedging Activities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Note 13 - Hedging Activities (Details) [Line Items]
Derivative, Notional Amount	$ 23,088	$ 14,399
Not Designated as Hedging Instrument [Member] | Gross Notional Value, Translated Earnings Contracts [Member]
Note 13 - Hedging Activities (Details) [Line Items]
Derivative, Notional Amount	20,800	12,000
Not Designated as Hedging Instrument [Member] | Gross Notional Value, Collar Options [Member]
Note 13 - Hedging Activities (Details) [Line Items]
Derivative, Notional Amount	4,600	5,600
Not Designated as Hedging Instrument [Member] | Gross Notional Value, Foreign Exchange Forward [Member]
Note 13 - Hedging Activities (Details) [Line Items]
Derivative, Notional Amount	16,200	6,400
Not Designated as Hedging Instrument [Member] | Net Notional Value, Collar Options [Member]
Note 13 - Hedging Activities (Details) [Line Items]
Derivative, Notional Amount	$ 2,400	$ 2,900

Note 13 - Hedging Activities 59

Note 13 - Hedging Activities (Details) - Summary of Notional Amounts and Respective Fair Values of Derivative Financial Instruments - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivatives designated as hedging instruments
Notional amount	$ 23,088	$ 14,399
Asset derivatives, fair value	592	995
Liability derivatives, fair value	(724)	(143)
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Assets or Liabilities Current [Member]
Derivatives designated as hedging instruments
Notional amount	684	782
Asset derivatives, fair value		5
Liability derivatives, fair value	(26)	(10)
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Assets or Liabilities Noncurrent [Member]
Derivatives designated as hedging instruments
Asset derivatives, fair value		1
Liability derivatives, fair value	(25)	(23)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Assets or Liabilities Noncurrent [Member]
Derivatives designated as hedging instruments
Notional amount	550	550
Asset derivatives, fair value	7
Liability derivatives, fair value		(4)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Assets or Liabilities Current [Member]
Derivatives designated as hedging instruments
Notional amount	1,063	1,095
Asset derivatives, fair value	6	6
Liability derivatives, fair value	(34)	(12)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Assets or Liabilities Noncurrent [Member]
Derivatives designated as hedging instruments
Liability derivatives, fair value	(1)
Not Designated as Hedging Instrument [Member] | Translated Earnings Contracts [Member] | Other Assets or Liabilities Current [Member]
Derivatives designated as hedging instruments
Notional amount	20,791	11,972
Asset derivatives, fair value	330	511
Liability derivatives, fair value	(52)	(33)
Not Designated as Hedging Instrument [Member] | Translated Earnings Contracts [Member] | Other Assets or Liabilities Noncurrent [Member]
Derivatives designated as hedging instruments
Asset derivatives, fair value	249	472
Liability derivatives, fair value	$ (586)	$ (61)

Note 13 - Hedging Activities 60

Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements - Cash Flow Hedging [Member] - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain/(loss) recognized in other comprehensive income (OCI)		$ (24)	$ 14
Gain reclassified from accumulated OCI into income (effective)	[1]	(4)	7
Foreign Exchange Contract [Member]
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain/(loss) recognized in other comprehensive income (OCI)		(24)	27
Sales [Member] | Interest Rate Hedges [Member]
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain/(loss) recognized in other comprehensive income (OCI)			(13)
Gain reclassified from accumulated OCI into income (effective)	[1]	1	5
Cost of Sales [Member] | Interest Rate Hedges [Member]
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain reclassified from accumulated OCI into income (effective)	[1]	$ (5)	$ 2
[1]	The amount of hedge ineffectiveness at March 31, 2016 and 2015 was insignificant.

Note 13 - Hedging Activities 61

Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain (loss) recognized in income	$ (857)	$ 29
Undesignated [Member]
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain (loss) recognized in income	(894)	42
Foreign Currency Transaction and Hedge Gain (Loss), Net [Member] | Foreign Exchange Contracts, Balance Sheet [Member]
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain (loss) recognized in income	(15)	11
Foreign Currency Transaction and Hedge Gain (Loss), Net [Member] | Foreign Exchange Contracts, Loans [Member]
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain (loss) recognized in income	(22)	2
Foreign Currency Transaction and Hedge Gain (Loss), Net [Member] | Translated Earnings Contracts [Member]
Note 13 - Hedging Activities (Details) - Effect on Consolidated Financial Statements [Line Items]
Gain (loss) recognized in income	$ (857)	$ 29

Note 14 - Fair Value Measurem62

Note 14 - Fair Value Measurements (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Note 14 - Fair Value Measurements (Details) [Line Items]
Liabilities, Fair Value Disclosure, Nonrecurring	$ 0
Assets, Fair Value Disclosure, Nonrecurring	0
Samsung Corning Precision Materials Co., Ltd. [Member]
Note 14 - Fair Value Measurements (Details) [Line Items]
Business Combination, Contingent Consideration, Asset	252,000,000	$ 246,000,000
IBwave Solutions and Fiberoptics [Member]
Note 14 - Fair Value Measurements (Details) [Line Items]
Business Combination, Contingent Consideration, Liability	$ 8,000,000

Note 14 - Fair Value Measurem63

Note 14 - Fair Value Measurements (Details) - Major Categories of Financial Assets and Liabilities Measured on a Recurring Basis - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2015	Mar. 31, 2016
Non-current assets:
Other assets (1)(2)		$ 1,493	$ 1,342
Current liabilities:
Other accrued liabilities (1)		1,308	1,201
Non-current liabilities:
Other liabilities (1)		$ 2,242	2,767
(in Dollars per share)		$ (3)
Current Assets [Member]
Current assets:
Short-term investments		$ 100
Other current assets (1)	[1]	522	336
Non Current Assets [Member]
Non-current assets:
Other assets (1)(2)	[1],[2]	752	540
Current Liabilities [Member]
Current liabilities:
Other accrued liabilities (1)	[1]	55	112	[3]
Non Current Liabilities [Member]
Non-current liabilities:
Other liabilities (1)	[1]	98	620	[3]
Fair Value, Inputs, Level 2 [Member] | Current Assets [Member]
Current assets:
Other current assets (1)	[1]	522	336
Fair Value, Inputs, Level 2 [Member] | Non Current Assets [Member]
Non-current assets:
Other assets (1)(2)	[1],[2]	506	288
Fair Value, Inputs, Level 2 [Member] | Current Liabilities [Member]
Current liabilities:
Other accrued liabilities (1)	[1]	55	112	[3]
Fair Value, Inputs, Level 2 [Member] | Non Current Liabilities [Member]
Non-current liabilities:
Other liabilities (1)	[1]	88	612	[3]
Fair Value, Inputs, Level 3 [Member] | Non Current Assets [Member]
Non-current assets:
Other assets (1)(2)	[1],[2]	246	252
Fair Value, Inputs, Level 3 [Member] | Non Current Liabilities [Member]
Non-current liabilities:
Other liabilities (1)	[1]	10	$ 8	[3]
Fair Value, Inputs, Level 1 [Member] | Current Assets [Member]
Current assets:
Short-term investments		$ 100
[1]	Derivative assets and liabilities include foreign exchange forward and zero-cost collar contracts, and interest rate swaps which are measured usingobservable quoted prices for similar assets and liabilities.
[2]	Other assets include asset-backed securities which are measured using observable quoted prices for similar assets and contingent considerationassets which are measured by applying an option pricing model using projected future revenue.
[3]	Other liabilities include Level 3 contingent consideration payables which are measured by applying an option pricing model using projectedfuture revenues.

Note 15 - Shareholders' Equit64

Note 15 - Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 19, 2016	Jan. 15, 2014	Mar. 31, 2016	Dec. 31, 2015	Oct. 28, 2015	Oct. 26, 2015	Jul. 15, 2015
Note 15 - Shareholders' Equity (Details) [Line Items]
Preferred Stock, Par or Stated Value Per Share (in Dollars per share)			$ 100	$ 100
July 15, 2015 [Member]
Note 15 - Shareholders' Equity (Details) [Line Items]
Stock Repurchase Program, Authorized Amount							$ 2,000
Oct. 26, 2015 [Member]
Note 15 - Shareholders' Equity (Details) [Line Items]
Stock Repurchase Program, Authorized Amount						$ 4,000
The 2015 Repurchase Program [Member]
Note 15 - Shareholders' Equity (Details) [Line Items]
Treasury Stock, Shares, Acquired (in Shares)			39,800,000
Treasury Stock, Value, Acquired, Cost Method			$ 751
Common Stock [Member]
Note 15 - Shareholders' Equity (Details) [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares)		50,000
Morgan Stanley [Member] | Oct. 28, 2015 [Member]
Note 15 - Shareholders' Equity (Details) [Line Items]
Stock Repurchase Program, Authorized Amount					$ 1,250
Treasury Stock, Shares, Acquired (in Shares)	15,900,000
Convertible Preferred Stock, Series A [Member]
Note 15 - Shareholders' Equity (Details) [Line Items]
Preferred Stock, Par or Stated Value Per Share (in Dollars per share)		$ 100
Samsung Corning Precision Materials Co., Ltd. [Member] | Convertible Preferred Stock, Series A [Member]
Note 15 - Shareholders' Equity (Details) [Line Items]
Stock Issued During Period, Shares, Acquisitions (in Shares)		2,300
Share Price (in Dollars per share)		$ 1,000,000
Stock Issued During Period, Value, Acquisitions		$ 2,300

Note 15 - Shareholders' Equit65

Note 15 - Shareholders' Equity (Details) - Accumulated Other Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Note 15 - Shareholders' Equity (Details) - Accumulated Other Comprehensive Income [Line Items]
Beginning balance	$ (1,811)
Ending balance	(1,404)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Note 15 - Shareholders' Equity (Details) - Accumulated Other Comprehensive Income [Line Items]
Beginning balance	(1,171)	$ (581)
Other comprehensive income (loss)	385	(174)
Equity method affiliates	43	(82)
Net current-period other comprehensive income (loss)	428	(256)
Ending balance	$ (743)	$ (837)

Note 16 - Share-based Compens66

Note 16 - Share-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Note 16 - Share-based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense	$ 9	$ 10
Proceeds from Stock Options Exercised	9	89
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 6	$ 40
Years of Historical Volatility Included in Most Recent Volatility	15 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	7 years 146 days	7 years 73 days
Employee Stock Option [Member]
Note 16 - Share-based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense	$ 3	$ 4
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 7
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 292 days
Proceeds from Stock Options Exercised	$ 9	89
Restricted Stock [Member]
Note 16 - Share-based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense	6	$ 6
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 44
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 328 days
Minimum [Member]
Note 16 - Share-based Compensation (Details) [Line Items]
Stock Options Exercisable Period from Date of Grant	1 year
Minimum [Member] | Restricted Stock [Member]
Note 16 - Share-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	1 year
Maximum [Member]
Note 16 - Share-based Compensation (Details) [Line Items]
Stock Options Exercisable Period from Date of Grant	5 years
Maximum [Member] | Restricted Stock [Member]
Note 16 - Share-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10 years

Note 16 - Share-based Compens67

Note 16 - Share-based Compensation (Details) - Summary of Information Concerning Stock Options Outstanding Including the Related Transactions under the Stock Option Plans $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Summary of Information Concerning Stock Options Outstanding Including the Related Transactions under the Stock Option Plans [Abstract]
Options Outstanding as of December 31, 2015 | shares	42,738
Options Outstanding as of December 31, 2015 | $ / shares	$ 19.40
Granted | shares	511
Granted | $ / shares	$ 20.89
Exercised | shares	(820)
Exercised | $ / shares	$ 12.25
Forfeited and Expired | shares	(1,643)
Forfeited and Expired | $ / shares	$ 23.15
Options Outstanding as of March 31, 2016 | shares	40,786
Options Outstanding as of March 31, 2016 | $ / shares	$ 19.41
Options Outstanding as of March 31, 2016	3 years 324 days
Options Outstanding as of March 31, 2016 | $	$ 125,625
Options Expected to Vest as of March 31, 2016 | shares	40,746
Options Expected to Vest as of March 31, 2016 | $ / shares	$ 19.41
Options Expected to Vest as of March 31, 2016	3 years 324 days
Options Expected to Vest as of March 31, 2016 | $	$ 125,611
Options Exercisable as of March 31, 2016 | shares	34,393
Options Exercisable as of March 31, 2016 | $ / shares	$ 19.58
Options Exercisable as of March 31, 2016	3 years 43 days
Options Exercisable as of March 31, 2016 | $	$ 109,058

Note 16 - Share-based Compens68

Note 16 - Share-based Compensation (Details) - Inputs Used for Valuation of Option Grants under Stock Option Plans	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Inputs Used for Valuation of Option Grants under Stock Option Plans [Abstract]
Expected volatility	43.10%	44.90%
Weighted-average volatility	43.10%	44.90%
Expected dividends	2.94%	1.92%
Risk-free rate	1.50%	1.90%
Average risk-free rate	1.50%	1.90%
Expected term (in years)	7 years 146 days	7 years 73 days
Pre-vesting departure rate	0.60%	0.60%

Note 16 - Share-based Compens69

Note 16 - Share-based Compensation (Details) - Summary of the Status of Non-Vested Time-Based Restricted Stock and Restricted Stock Units - Time-Based Restricted Stock and Restricted Stock Units [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Note 16 - Share-based Compensation (Details) - Summary of the Status of Non-Vested Time-Based Restricted Stock and Restricted Stock Units [Line Items]
Non-vested shares and share units at December 31, 2015 | shares	5,242
Non-vested shares and share units at December 31, 2015 | $ / shares	$ 17.91
Granted | shares	1,162
Granted | $ / shares	$ 20.59
Vested | shares	(402)
Vested | $ / shares	$ 15.95
Forfeited | shares	(29)
Forfeited | $ / shares	$ 20.73
Non-vested shares and share units at March 31, 2016 | shares	5,973
Non-vested shares and share units at March 31, 2016 | $ / shares	$ 18.55

Note 17 - Reportable Segments70

Note 17 - Reportable Segments (Details)	3 Months Ended
	Mar. 31, 2016
Minimum [Member]
Note 17 - Reportable Segments (Details) [Line Items]
Number of Material Formulations	150

Note 17 - Reportable Segments71

Note 17 - Reportable Segments (Details) - Reportable Segments - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Net sales		$ 2,047	$ 2,265
Depreciation		281	279
Amortization of purchased intangibles		14	12
Research, development and engineering expenses		190	189
Restructuring, impairment & other charges		80
Equity in earnings of affiliated companies		59	94
Income tax (provision) benefit		304	(86)
Net income (loss)		(368)	407
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		2,047	2,265
Depreciation	[1]	278	273
Amortization of purchased intangibles		14	11
Research, development and engineering expenses	[2]	164	161
Restructuring, impairment & other charges		72	(1)
Equity in earnings of affiliated companies		3
Income tax (provision) benefit		(95)	(190)
Net income (loss)	[3]	213	405
Display Technologies [Member]
Segment Reporting Information [Line Items]
Restructuring, impairment & other charges		4
Display Technologies [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		705	808
Depreciation	[1]	151	156
Research, development and engineering expenses	[2]	18	24
Restructuring, impairment & other charges		4
Equity in earnings of affiliated companies			(2)
Income tax (provision) benefit		(93)	(132)
Net income (loss)	[3]	209	294
Optical Communications [Member]
Segment Reporting Information [Line Items]
Restructuring, impairment & other charges		6
Optical Communications [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		609	697
Depreciation	[1]	41	38
Amortization of purchased intangibles		7	6
Research, development and engineering expenses	[2]	37	33
Restructuring, impairment & other charges		6	(1)
Income tax (provision) benefit		(11)	(29)
Net income (loss)	[3]	17	57
Environmental Technologies [Member]
Segment Reporting Information [Line Items]
Restructuring, impairment & other charges		5
Environmental Technologies [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		264	282
Depreciation	[1]	32	29
Research, development and engineering expenses	[2]	25	23
Restructuring, impairment & other charges		5
Income tax (provision) benefit		(16)	(23)
Net income (loss)	[3]	34	48
Specialty Materials [Member]
Segment Reporting Information [Line Items]
Restructuring, impairment & other charges		12
Specialty Materials [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		227	272
Depreciation	[1]	28	26
Research, development and engineering expenses	[2]	31	31
Restructuring, impairment & other charges		12
Income tax (provision) benefit		(12)	(21)
Net income (loss)	[3]	26	38
Life Sciences [Member]
Segment Reporting Information [Line Items]
Restructuring, impairment & other charges		3
Life Sciences [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		204	197
Depreciation	[1]	15	15
Amortization of purchased intangibles		5	5
Research, development and engineering expenses	[2]	6	5
Restructuring, impairment & other charges		3
Income tax (provision) benefit		(6)	(8)
Net income (loss)	[3]	12	16
Other Segments [Member]
Segment Reporting Information [Line Items]
Restructuring, impairment & other charges		42
Other Segments [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		38	9
Depreciation	[1]	11	9
Amortization of purchased intangibles		2
Research, development and engineering expenses	[2]	47	45
Restructuring, impairment & other charges		42
Equity in earnings of affiliated companies		3	2
Income tax (provision) benefit		43	23
Net income (loss)	[3]	$ (85)	$ (48)
[1]	Depreciation expense for Corning's reportable segments includes an allocation of depreciation of corporate property not specifically identifiable to a segment.
[2]	Research, development and engineering expenses include direct project spending that is identifiable to a segment.
[3]	Many of Corning's administrative and staff functions are performed on a centralized basis. Where practicable, Corning charges these expenses to segments based upon the extent to which each business uses a centralized function. Other staff functions, such as corporate finance, human resources and legal, are allocated to segments, primarily as a percentage of sales.

Note 17 - Reportable Segments72

Note 17 - Reportable Segments (Details) - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Note 17 - Reportable Segments (Details) - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income [Line Items]
Net (loss) income		$ (368)	$ 407
Unallocated amounts:
Net financing costs (1)	[1]	(29)	(24)
Stock-based compensation expense		(9)	(10)
Exploratory research		(27)	(26)
Corporate contributions		(7)	(12)
Equity in earnings of affiliated companies, net of impairments (2)	[2]	56	94
Unrealized loss on foreign currency hedges related to translated earnings		(950)	(120)
Income tax benefit		401	102
Other corporate items		(16)	(2)
Reportable Segments [Member]
Note 17 - Reportable Segments (Details) - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income [Line Items]
Net (loss) income		298	453
Non Reportable Segments [Member]
Note 17 - Reportable Segments (Details) - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income [Line Items]
Net (loss) income		$ (85)	$ (48)
[1]	Net financing costs include interest income, interest expense, and interest costs and investment gains and losses associated with benefit plans.
[2]	Primarily represents the equity earnings of Dow Corning.