Corning (GLW) 8-K Other Events

Exhibit 12.1

CORNING INCORPORATED AND SUBSIDIARY COMPANIES

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(In millions, except ratios)

	30-Sep 2017			30-Jun 2017			31-Dec 2016			31-Dec 2015			31-Dec 2014			31-Dec 2013			31-Dec 2012
Income before income taxes		1,091			612			3,692			1,486			3,568			2,473			1,975
Adjustments:
Equity earnings of equity affiliates		(148	)		(117	)		(284	)		(299	)		(266	)		(547	)		(810	)
Distributed income of equity affiliates		101			67			85			143			1,704			629			1,089
Net Income attributable to noncontrolling interest		13			9			10			10			3			0			(5	)
Amortization of capitalized interest		0			0			0			0			0
Fixed charges net of capitalized interest		145			96			195			171			159			148			138
Income (loss) from continuing operations before taxes and fixed charges as adjusted		1,202			667			3,698			1,511			5,168			2,703			2,387
Fixed charges:
Interest expense included in income (loss)		136			89			179			172			160			153			181
Portion of rent expense which represents interest factor		33			21			35			31			36			28			27
Amortization of debt costs		3			2			4			3			3			2			4
Total fixed charges		172			112			218			206			199			183			212
Capitalized interest		(27	)		(16	)		(23	)		(35	)		(40	)		(35	)		(74	)
Total fixed charges net of capitalized interest		145			96			195			171			159			148			138
Total fixed charges		172			112			218			206			199			183			212
Preferred stock dividends grossed up to a pre-tax basis		87			57			98			109			136			—			—
Combined fixed charges and preferred stock dividends		259			169			316			315			335			183			212
Ratio of earnings to fixed charges		7.0x			6.0x			17.0x			7.3x			26.0x			14.8x			11.3x
Ratio of earnings to combined fixed charges and preferred stock dividends		4.6x			3.9x			11.7x			4.8x			15.4x			14.8x			11.3x