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 2018			31-Dec 2017			31-Dec 2016			31-Dec 2015			31-Dec 2014			31-Dec 2013
Income before income taxes		1,157			1,657			3,692			1,486			3,568			2,473
Adjustments:
Equity earnings of equity affiliates		(102	)		(361	)		(284	)		(299	)		(266	)		(547	)
Distributed income of equity affiliates (1)		106			201			85			143			1,704			629
Net Income attributable to noncontrolling interest		17			18			10			10			3			0
Amortization of capitalized interest		0			0			0			0			0
Fixed charges net of capitalized interest		177			199			195			171			159			148
Income (loss) from continuing operations before taxes and fixed charges as adjusted		1,355			1,714			3,698			1,511			5,168			2,703
Fixed charges:
Interest expense included in income (loss)		174			187			179			172			160			153
Portion of rent expense which represents interest factor (2)		38			44			35			31			36			28
Amortization of debt costs		3			4			4			3			3			2
Total fixed charges		215			235			218			206			199			183
Capitalized interest		(38	)		(36	)		(23	)		(35	)		(40	)		(35	)
Total fixed charges net of capitalized interest		177			199			195			171			159			148
Total fixed charges		215			235			218			206			199			183
Preferred stock dividends grossed up to apre-tax basis		94			156			98			109			136			—
Combined fixed charges and preferred stock dividends		309			391			316			315			335			183
Ratio of earnings to fixed charges		6.3x			7.3x			17.0x			7.3x			26.0x			14.8x

(1) In 2014, includes a $1.6 billion dividend received from Samsung Corning Precision Materials related to the acquisition of Samsung Corning Precision Materials.

(2) One-third of net rent expense is the portion deemed representative of the interest factor.