Corning (GLW) 10-Q 27 Jul 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 24, 2023
Document Information [Line Items]
Entity Central Index Key	0000024741
Entity Registrant Name	CORNING INC /NY
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-3247
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	16-0393470
Entity Address, Address Line One	One Riverfront Plaza
Entity Address, City or Town	Corning
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14831
City Area Code	607
Local Phone Number	974-9000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		852,981,921
The 4.125% Notes Due 2031 [Member]
Document Information [Line Items]
Title of 12(b) Security	4.125% Notes due 2031
Trading Symbol	GLW31
Security Exchange Name	NYSE
The 3.875% Notes Due 2026 [Member]
Document Information [Line Items]
Title of 12(b) Security	3.875% Notes due 2026
Trading Symbol	GLW26
Security Exchange Name	NYSE
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.50 par value per share
Trading Symbol	GLW
Security Exchange Name	NYSE

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net sales	$ 3,243	$ 3,615	$ 6,421	$ 7,295
Cost of sales	2,230	2,369	4,405	4,766
Gross margin	1,013	1,246	2,016	2,529
Operating expenses:
Selling, general and administrative expenses	440	486	861	920
Research, development and engineering expenses	263	240	517	488
Amortization of purchased intangibles	31	30	62	61
Operating income	279	490	576	1,060
Interest income	8	3	15	6
Interest expense	(81)	(72)	(157)	(143)
Translated earnings contract gain, net (Note 10)	116	196	108	325
Other income, net	87	133	95	285
Income before income taxes	409	750	637	1,533
Provision for income taxes (Note 3)	(106)	(166)	(143)	(346)
Net income	303	584	494	1,187
Net income attributable to non-controlling interest	(22)	(21)	(37)	(43)
Net income attributable to Corning Incorporated	$ 281	$ 563	$ 457	$ 1,144
Earnings per common share available to common shareholders:
Basic (Note 4) (in dollars per share)	$ 0.33	$ 0.67	$ 0.54	$ 1.36
Diluted (Note 4) (in dollars per share)	$ 0.33	$ 0.66	$ 0.53	$ 1.33

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 303	$ 584	$ 494	$ 1,187
Foreign currency translation adjustments and other	(318)	(650)	(402)	(850)
Unamortized losses and prior service costs for postretirement benefit plans	(4)	(51)	(8)	(52)
Realized and unrealized gains (losses) on derivatives	20	(31)	41	(17)
Other comprehensive loss, net of tax	(302)	(732)	(369)	(919)
Comprehensive income (loss)	1	(148)	125	268
Comprehensive income attributable to non-controlling interest	(22)	(21)	(37)	(43)
Comprehensive (loss) income attributable to Corning Incorporated	$ (21)	$ (169)	$ 88	$ 225

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,538	$ 1,671
Trade accounts receivable, net of doubtful accounts - $29 and $40	1,674	1,721
Inventories (Note 5)	2,757	2,904
Other current assets	1,324	1,157
Total current assets	7,293	7,453
Property, plant and equipment, net of accumulated depreciation - $14,171 and $14,147	14,681	15,371
Goodwill, net	2,382	2,394
Other intangible assets, net	972	1,029
Deferred income taxes (Note 3)	1,083	1,073
Other assets	2,234	2,179
Total Assets	28,645	29,499
Current liabilities:
Current portion of long-term debt and short-term borrowings	187	224
Accounts payable	1,519	1,804
Other accrued liabilities (Notes 6 and 9)	2,705	3,147
Total current liabilities	4,411	5,175
Long-term debt (Note 7)	7,437	6,687
Postretirement benefits other than pensions (Note 8)	407	407
Other liabilities (Notes 6 and 9)	4,680	4,955
Total liabilities	16,935	17,224
Commitments and contingencies (Note 9)
Shareholders’ equity (Note 12):
Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1.8 billion and 1.8 billion	915	910
Additional paid-in capital – common stock	16,817	16,682
Retained earnings	16,509	16,778
Treasury stock, at cost; Shares held: 980 million and 977 million	(20,630)	(20,532)
Accumulated other comprehensive loss	(2,199)	(1,830)
Total Corning Incorporated shareholders’ equity	11,412	12,008
Non-controlling interest	298	267
Total equity	11,710	12,275
Total Liabilities and Equity	$ 28,645	$ 29,499

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Doubtful accounts and allowances	$ 29	$ 40
Accumulated depreciation	$ 14,171	$ 14,147
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	3,800	3,800
Common stock, shares issued (in shares)	1,800	1,800
Treasury shares (in shares)	980	977

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities:
Net income	$ 494	$ 1,187
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	622	687
Amortization of purchased intangibles	62	61
Loss on disposal of assets, net	23	8
Severance charges	73
Severance payments	(48)	(3)
Gain on sale of business		(53)
Share-based compensation expense	111	93
Translation gain on Japanese yen-denominated debt	(127)	(237)
Deferred tax (benefit) provision	(10)	72
Translated earnings contract gain, net	(108)	(325)
Unrealized translation loss on transactions	50	77
Tax deposit refund	99
Changes in assets and liabilities:
Trade accounts receivable	(64)	55
Inventories	58	(436)
Other current assets	(49)	(77)
Accounts payable and other current liabilities	(436)	209
Customer deposits and government incentives	(6)	4
Deferred income	(24)	(24)
Other, net	(150)	(6)
Net cash provided by operating activities	570	1,292
Cash Flows from Investing Activities:
Capital expenditures	(770)	(736)
Proceeds from sale of business		74
Realized gains on translated earnings contracts and other	177	132
Other, net	11	(37)
Net cash used in investing activities	(515)	(567)
Cash Flows from Financing Activities:
Repayments of short-term borrowings	(73)	(11)
Proceeds from issuance of other long-term debt	20	28
Proceeds from other financing arrangements	54
Payment for redemption of preferred stock	(507)	(507)
Payments of employee withholding tax on stock awards	(99)	(42)
Proceeds from exercise of stock options	35	28
Purchases of common stock for treasury		(201)
Dividends paid	(495)	(462)
Other, net	(17)	(11)
Net cash used in financing activities	(164)	(1,178)
Effect of exchange rates on cash	(24)	(66)
Net decrease in cash and cash equivalents	(133)	(519)
Cash and cash equivalents at beginning of period	1,671	2,148
Cash and cash equivalents at end of period	1,538	1,629
Notes 2026 and Notes 2031 [Member]
Cash Flows from Financing Activities:
Proceeds from issuance of euro bonds	918
Related Party [Member]
Cash Flows from Investing Activities:
Proceeds from sale of equipment to related party	$ 67

Consolidated Statements of Chan

Consolidated Statements of Changes In Shareholders' Equity (Unaudited) - USD ($) $ in Millions		Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 31, 2021		$ 907	$ 16,475	$ 16,389	$ (20,263)	$ (1,175)	$ 12,333	$ 212	$ 12,545
Net income (loss)				581			581	22	603
Other comprehensive income (loss)						(187)	(187)		(187)
Shares issued to benefit plans and for option exercises		1	56				57		57
Common dividends				(233)			(233)		(233)
Other, net	[1]				(5)		(5)		(5)
Purchase of common stock for treasury					(151)		(151)		(151)
Balance at Mar. 31, 2022		908	16,531	16,737	(20,419)	(1,362)	12,395	234	12,629
Balance at Dec. 31, 2021		907	16,475	16,389	(20,263)	(1,175)	12,333	212	12,545
Net income (loss)									1,187
Balance at Jun. 30, 2022		910	16,590	16,837	(20,509)	(2,094)	11,734	248	11,982
Balance at Mar. 31, 2022		908	16,531	16,737	(20,419)	(1,362)	12,395	234	12,629
Net income (loss)				563			563	21	584
Other comprehensive income (loss)						(732)	(732)	(2)	(734)
Shares issued to benefit plans and for option exercises		2	59				61		61
Common dividends				(463)			(463)		(463)
Other, net	[1]				(37)		(37)	(5)	(42)
Purchase of common stock for treasury					(53)		(53)		(53)
Balance at Jun. 30, 2022		910	16,590	16,837	(20,509)	(2,094)	11,734	248	11,982
Balance at Dec. 31, 2022		910	16,682	16,778	(20,532)	(1,830)	12,008	267	12,275
Net income (loss)				176			176	15	191
Other comprehensive income (loss)						(67)	(67)		(67)
Shares issued to benefit plans and for option exercises		1	64				65		65
Common dividends				(241)			(241)		(241)
Other, net	[1]				(16)		(16)		(16)
Balance at Mar. 31, 2023		911	16,746	16,713	(20,548)	(1,897)	11,925	282	12,207
Balance at Dec. 31, 2022		910	16,682	16,778	(20,532)	(1,830)	12,008	267	12,275
Net income (loss)									494
Balance at Jun. 30, 2023		915	16,817	16,509	(20,630)	(2,199)	11,412	298	11,710
Balance at Mar. 31, 2023		911	16,746	16,713	(20,548)	(1,897)	11,925	282	12,207
Net income (loss)				281			281	22	303
Other comprehensive income (loss)						(302)	(302)	(1)	(303)
Shares issued to benefit plans and for option exercises		4	71				75		75
Common dividends				(485)			(485)		(485)
Other, net	[1]				(82)		(82)	(5)	(87)
Balance at Jun. 30, 2023		$ 915	$ 16,817	$ 16,509	$ (20,630)	$ (2,199)	$ 11,412	$ 298	$ 11,710
[1]Treasury stock includes the deemed surrender to the Company of common stock to satisfy employee tax withholding obligations.

Consolidated Statements of Ch_2

Consolidated Statements of Changes In Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Common Dividends (in dollars per share)	$ 0.56	$ 0.28	$ 0.54	$ 0.27

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Basis of Presentation and Principles of Consolidation In these notes, the terms “Corning,” “Company,” “we,” “us,” or “our” mean Corning Incorporated and its subsidiary companies. The consolidated financial statements include the consolidated accounts of Corning Incorporated and its subsidiaries consolidated in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, which include normal recurring adjustments, necessary to state fairly the financial position, results of operations and cash flows for the periods presented. All intercompany accounts, transactions and profits have been eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10 December 31, 2022 2022 10 not may The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities in the consolidated financial statements and related notes. Significant estimates and assumptions in these consolidated financial statements require the exercise of judgment. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may The non-controlling interest as recorded in the consolidated financial statements represents amounts attributable to the minority shareholders of Hemlock Semiconductor Group (“Hemlock”) and other less-than-wholly-owned consolidated subsidiaries. Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no

Note 2 - Revenue

Note 2 - Revenue	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Disaggregated Revenue The following table presents revenues by product category (in millions): Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Telecommunication products $ 1,066 $ 1,313 $ 2,191 $ 2,511 Display products 725 759 1,334 1,665 Specialty glass products 420 485 824 978 Environmental substrate and filter products 433 336 840 737 Life science products 222 304 469 611 Polycrystalline silicon products 258 306 535 588 All other products 119 112 228 205 Total revenue $ 3,243 $ 3,615 $ 6,421 $ 7,295 Customer Deposits As of June 30, 2023 December 31, 2022 For the three June 30, 2023 2022 six June 30, 2023 2022 Refer to Note 6 Deferred Revenue As of June 30, 2023 December 31, 2022 Deferred revenue is tracked on a per-customer contract-unit basis. As customers take delivery of the committed volumes under the terms of the contract, a per-unit amount of deferred revenue is recognized when control of the promised goods is transferred to the customer based upon the units delivered compared to the remaining contractual units. For the three six June 30, 2023 2022 not Refer to Note 6

Note 3 - Income Taxes

Note 3 - Income Taxes	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	3. The following table presents the provision for income taxes and the related effective tax rate (in millions, except percentages): Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Provision for income taxes $ (106 ) $ (166 ) $ (143 ) $ (346 ) Effective tax rate 25.9 % 22.1 % 22.4 % 22.6 % For the three six June 30, 2023 For the three six June 30, 2022 Corning Precision Materials, a South Korean subsidiary, is currently appealing certain tax assessments and tax refund claims for tax years 2010 2019. second 2023, no June 30, 2023 December 31, 2022, not

Note 4 - Earnings per Common Sh

Note 4 - Earnings per Common Share	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	4. The following table presents the reconciliation of the amounts used to compute basic and diluted earnings per common share (in millions, except per share amounts): Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Net income attributable to Corning Incorporated $ 281 $ 563 $ 457 $ 1,144 Weighted-average common shares outstanding – basic 848 843 846 843 Effect of dilutive securities: Stock options and other awards 11 13 13 14 Weighted-average common shares outstanding – diluted 859 856 859 857 Basic earnings per common share $ 0.33 $ 0.67 $ 0.54 $ 1.36 Diluted earnings per common share $ 0.33 $ 0.66 $ 0.53 $ 1.33 Anti-dilutive potential shares excluded from diluted earnings Stock options and other awards 3 2 3 2

Note 5 - Inventories

Note 5 - Inventories	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	5. Inventories consisted of the following (in millions): June 30, December 31, 2023 2022 Finished goods $ 1,234 $ 1,315 Work in process 553 571 Raw materials and accessories 515 537 Supplies and packing materials 455 481 Inventories $ 2,757 $ 2,904

Note 6 - Other Liabilities

Note 6 - Other Liabilities	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	6. Other liabilities consisted of the following (in millions): June 30, December 31, 2023 2022 Current liabilities: Wages and employee benefits $ 460 $ 727 Income taxes 174 127 Derivative instruments (Note 10) 164 174 Deferred revenue (Note 2) 175 144 Customer deposits (Note 2) 151 132 Share repurchase liability (Note 12) 506 Short-term operating leases 103 111 Other current liabilities 1,478 1,226 Other accrued liabilities $ 2,705 $ 3,147 Non-current liabilities: Defined benefit pension plan liabilities $ 662 $ 668 Derivative instruments (Note 10) 54 17 Deferred revenue (Note 2) 665 725 Customer deposits (Note 2) 1,040 1,137 Deferred tax liabilities 217 243 Long-term operating leases 827 795 Other non-current liabilities 1,215 1,370 Other liabilities $ 4,680 $ 4,955

Note 7 - Debt

Note 7 - Debt	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Based on borrowing rates currently available to us for loans with similar terms and maturities, the fair value of long-term debt was $7.1 billion and $6.1 billion as of June 30, 2023 December 31, 2022, June 30, 2023 December 31, 2022, 2 On May 15, 2023, €300 2026 “2026 €550 2031 “2031 2026 2031 June 30, 2023, 2026 2031 10 Corning had no outstanding commercial paper as of June 30, 2023 December 31, 2022.

Note 8 - Employee Retirement Pl

Note 8 - Employee Retirement Plans	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	8. Corning has defined benefit pension plans covering certain domestic and international employees. The Company may 2023, The following table presents the components of net periodic benefit expense for employee retirement plans, which other than the service cost component is recorded in other income, net in the consolidated statements of income (in millions): Pension benefits Postretirement benefits Three months ended Six months ended Three months ended Six months ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 2023 2022 2023 2022 Service cost $ 27 $ 32 $ 50 $ 64 $ 2 $ 2 $ 3 $ 4 Interest cost 43 27 88 54 5 4 11 8 Expected return on plan assets (46 ) (54 ) (92 ) (109 ) Amortization of actuarial net gain (6 ) (11 ) Amortization of prior service cost (credit) 1 2 3 3 (1 ) (1 ) (2 ) (2 ) Recognition of actuarial loss (gain) 22 22 (1 ) (1 ) Special termination benefit charge 5 5 Total pension and postretirement benefit expense $ 30 $ 29 $ 54 $ 34 $ — $ 4 $ 1 $ 9

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. Corning is a defendant in various lawsuits and is subject to various claims that arise in the normal course of business, the most significant of which are summarized below. 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. Dow Corning Chapter 11 Until June 1, 2016, May 31, 2016, no May 31, 2016, not Dow Corning Environmental Claims In September 2019, may June 30, 2023 not Environmental Litigation Corning has been designated by federal or state governments under environmental laws, including Superfund, as a potentially responsible party that may June 30, 2023 December 31, 2022

Note 10 - Hedging Activities

Note 10 - Hedging Activities	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	10. Designated Hedges Corning uses over-the-counter (“OTC”) foreign exchange forward contracts designated as cash flow hedges to reduce the risk that movements in exchange rates will adversely affect the net cash flows resulting from the sale of products to customers and purchases from suppliers. The total notional amounts for foreign currency cash flow hedges are $310 million and $419 million as of June 30, 2023 December 31, 2022, 2024. June 30, 2023 12 Corning has entered into leases of precious metals, with maturities through 2025. not June 30, 2023 December 31, 2022. June 30, 2023 December 31, 2022, Net Investment Hedges In May 2023, 2026 2031 €850 June 30, 2023 three six June 30, 2023 not Refer to Note 7 Undesignated Hedges Corning uses OTC foreign exchange forward and option contracts to offset economic currency risks. These contracts are not A significant portion of the Company’s non-U.S. revenue and expenses are denominated in Japanese yen, South Korean won, new Taiwan dollar, Chinese yuan and euro. When this revenue and expenses are translated to U.S. dollars, the Company is exposed to foreign exchange rate movements. To protect translated earnings against movements in these currencies, the Company has entered into a series of average rate forwards and option contracts. Most of these contracts hedge a significant portion of the Company’s exposure to the Japanese yen, with maturities through 2024, 2026. The following table summarizes the notional amounts and respective fair values of Corning’s derivative financial instruments on a gross basis as of June 30, 2023 December 31, 2022 Asset derivatives Liability derivatives Notional amount Balance Fair value Balance Fair value June December sheet June December sheet June December 30, 2023 31, 2022 location 30, 2023 31, 2022 location 30, 2023 31, 2022 Derivatives designated as hedging instruments (1) Foreign exchange and precious metals lease contracts (2) $ 310 $ 419 Other current assets $ 148 $ 26 Other accrued liabilities $ (1 ) Other assets 177 78 Derivatives not designated as hedging instruments Foreign exchange contracts 1,801 2,231 Other current assets 34 44 Other accrued liabilities $ (24 ) (49 ) Translated earnings contracts 6,014 7,543 Other current assets 412 384 Other accrued liabilities (140 ) (124 ) Other assets 114 146 Other liabilities (54 ) (17 ) Total derivatives $ 8,125 $ 10,193 $ 885 $ 678 $ (218 ) $ (191 ) ( 1 The amounts above do not €850 June 30, 2023), ( 2 As of June 30, 2023 December 31, 2022, The following table summarizes the total notional amounts for translated earnings contracts as of June 30, 2023 December 31, 2022 June 30, December 31, 2023 2022 Average rate forward contracts: Japanese yen-denominated $ 0.2 $ 0.1 South Korean won-denominated 1.9 2.1 Other foreign currencies (1) 0.9 0.7 Option contracts: Japanese yen-denominated (2) 3.0 4.6 Total notional amount for translated earning contracts $ 6.0 $ 7.5 ( 1 Denominational currencies for other average rate forward contracts include the Chinese yuan, New Taiwan dollar, euro and British pound. ( 2 Japanese yen-denominated option contracts include purchased put and call options, knock-out options, and zero zero zero The fair values of these derivative contracts are recorded as either assets (gain position) or liabilities (loss position) on the consolidated balance sheets. Changes in the fair value of the derivative contracts are recorded in earnings within translated earnings contract gain, net in the consolidated statements of income. The following tables summarize the effect in the consolidated statements of income relating to Corning’s derivative financial instruments (in millions). The accumulated derivative gain included in accumulated other comprehensive loss on the consolidated balance sheets as of June 30, 2023 December 31, 2022 Three months ended June 30, Location of gain (loss) Gain (loss) recognized reclassified from Gain (loss) reclassified Derivative hedging in other comprehensive accumulated from accumulated relationships for cash income (OCI) OCI into income OCI into income flow and fair value hedges 2023 2022 2023 2022 Net sales $ 13 Cost of sales $ 11 6 Foreign exchange contracts and other $ 42 $ (14 ) Other income, net (1 ) (1 ) Total cash flow and fair value hedges $ 42 $ (14 ) $ 10 $ 18 Six months ended June 30, Location of gain (loss) Gain recognized reclassified from Gain (loss) reclassified Derivative hedging in other comprehensive accumulated from accumulated relationships for cash income (OCI) OCI into income OCI into income flow and fair value hedges 2023 2022 2023 2022 Net sales $ 23 Cost of sales $ 18 13 Foreign exchange contracts and other $ 74 $ 20 Other income, net (2 ) (2 ) Total cash flow and fair value hedges $ 74 $ 20 $ 16 $ 34 Gain recognized in income Three months ended Six months ended Location of gain June 30, June 30, Undesignated derivatives recognized in income 2023 2022 2023 2022 Foreign exchange contracts Other income, net $ 15 $ 33 $ 28 $ 59 Translated earnings contracts Translated earnings contract gain, net 116 196 108 325 Total undesignated $ 131 $ 229 $ 136 $ 384

Note 11 - Fair Value Measuremen

Note 11 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	11. The following table provides fair value measurement information for the Company’s major categories of financial assets and liabilities measured on a recurring basis (in millions): June 30, 2023 December 31, 2022 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Current assets: Other current assets (1) $ 649 $ 5 $ 594 $ 50 $ 505 $ 2 $ 454 $ 49 Non-current assets: Other assets (1) $ 295 $ 4 $ 291 $ 225 $ 224 $ 1 Current liabilities: Other accrued liabilities (1) $ 164 $ 164 $ 174 $ 174 Non-current liabilities: Other liabilities (1) $ 71 $ 71 $ 34 $ 34 ( 1 Derivative assets and liabilities include foreign exchange and precious metals lease contracts which were measured using observable inputs for similar assets and liabilities. There were no June 30, 2023 December 31, 2022

Note 12 - Shareholders' Equity

Note 12 - Shareholders' Equity	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Equity [Text Block]	12. Equity Fixed Rate Cumulative Convertible Preferred Stock, Series A We had 2,300 outstanding shares of Fixed Rate Cumulative Convertible Preferred Stock, Series A (the “Preferred Stock”) as of December 31, 2020. January 16, 2021, April 5, 2021, April 8, 2021. April 2022 2021. April 2023. Share Repurchase Program In 2019, “2019 During the three six June 30, 2022 2019 three six June 30, 2023 As of June 30, 2023 2019 Accumulated Other Comprehensive Loss For the three six June 30, 2023 2022 The following table presents the changes in the foreign currency translation adjustment component of accumulated other comprehensive loss, including the proportionate share of equity method affiliates' accumulated other comprehensive loss (in millions) ( 1 Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Beginning balance $ (1,796 ) $ (1,133 ) $ (1,712 ) $ (933 ) Loss on foreign currency translation (2) (310 ) (635 ) (393 ) (833 ) Equity method affiliates (3) (8 ) (15 ) (9 ) (17 ) Net current-period other comprehensive loss (318 ) (650 ) (402 ) (850 ) Ending balance $ (2,114 ) $ (1,783 ) $ (2,114 ) $ (1,783 ) ( 1 All amounts are after tax. Amounts in parentheses indicate debits to accumulated other comprehensive loss. ( 2 For the three six June 30, 2023 three six June 30, 2022 ( 3 Tax effects are not

Note 13 - Share-based Compensat

Note 13 - Share-based Compensation	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	13. Total share-based compensation cost was $59 million and $111 million for the three six June 30, 2023 three six June 30, 2022 Incentive Stock Plans Time-Based Restricted Stock and Restricted Stock Units The following table summarizes the changes in non-vested time-based restricted stock and restricted stock units for the six June 30, 2023 Weighted Number average of shares grant-date (in thousands) fair value Non-vested shares and share units as of December 31, 2022 11,299 $ 29.19 Granted 7,105 35.07 Vested (4,219 ) 23.18 Forfeited (331 ) 34.10 Non-vested shares and share units as of June 30, 2023 13,854 $ 33.92 Performance-Based Restricted Stock Units The following table summarizes the changes in non-vested performance-based restricted stock units for the six June 30, 2023 : Weighted Number average of shares grant-date (in thousands) fair value Non-vested share units as of December 31, 2022 4,696 $ 35.41 Granted 1,671 35.08 Vested (3,586 ) 33.37 Performance adjustments (405 ) 36.40 Forfeited (33 ) 36.18 Non-vested share units as of June 30, 2023 2,343 $ 38.62 Stock Options The following table summarizes information concerning stock options as of June 30, 2023 six June 30, 2023 Weighted- average Weighted- remaining Aggregate Number average contractual intrinsic of shares exercise term value (in thousands) price (in years) (in thousands) Options outstanding as of December 31, 2022 9,665 $ 22.92 Exercised (1,782 ) 19.67 Forfeited and expired (46 ) 19.65 Options outstanding as of June 30, 2023 7,837 23.67 5.48 $ 89,074 Options vested and exercisable as of June 30, 2023 7,837 23.67 5.48 89,074 There were no stock options granted during the six June 30, 2023 2022.

Note 14 - Reportable Segments

Note 14 - Reportable Segments	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	14. The Company has determined that it has five reportable segments for financial reporting purposes, as follows: ● Optical Communications – manufactures carrier network and enterprise network components for the telecommunications industry; the carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications, and the enterprise network group consists primarily of optical-based communication networks sold to businesses, governments and individuals for their own use. ● Display Technologies – manufactures high quality glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used primarily in televisions, notebook computers, desktop monitors, tablets and handheld devices. ● Specialty Materials – manufactures products that provide material formulations for glass, glass ceramics and fluoride crystals to meet demand for unique customer needs across a wide variety of commercial and industrial markets, including materials optimized for mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses and telecommunications components. ● Environmental Technologies – manufactures ceramic substrates and filter products for emissions control systems in mobile applications. ● Life Sciences – develops, manufactures, and supplies laboratory products, including labware, equipment, media, serum and reagents, enabling workflow solutions for drug discovery and bioproduction. not Financial results for the reportable segments and Hemlock and Emerging Growth Businesses are prepared on a basis consistent with the internal disaggregation of financial information to assist the chief operating decision maker (“CODM”) in making internal operating decisions. As a significant portion of segment revenues and expenses are denominated in currencies other than the U.S. dollar, management believes it is important to understand the impact on segment net sales and segment net income of translating these currencies into U.S. dollars. Therefore, the Company utilizes constant-currency reporting for the Display Technologies, Specialty Materials, Environmental Technologies and Life Sciences segments to exclude the impact on segment sales and segment net income from the Japanese yen, South Korean won, Chinese yuan, new Taiwan dollar and euro, as applicable to the segment. The most significant constant-currency adjustment relates to the Japanese yen exposure within the Display Technologies segment. Management utilizes constant-currency reporting based on internally-derived rates, as detailed below, which are closely aligned with the currencies we have hedged. The Company believes that the use of constant-currency reporting allows management to understand segment results without the volatility of currency fluctuation, analyze underlying trends in the businesses and establish operational goals and forecasts. Further, it reflects the underlying economics of the translated earnings contracts used to mitigate the impact of changes in currency exchange rates on our earnings and cash flows. Constant-currency rates are as follows and are applied to all periods presented: Currency Japanese yen Korean won Chinese yuan New Taiwan dollar Euro Rate ¥107 ₩1,175 ¥6.7 NT$31 €.81 In addition, certain income and expenses are excluded from segment net income and included in the unallocated amounts in the reconciliation of reportable segment net income to consolidated net income. These items are not Corning’s administrative and staff functions are performed on a centralized basis and such costs and expenses are allocated among the segments differently than they would be for stand-alone financial reporting purposes. These include certain costs and expenses of shared services, such as information technology, human resources, legal, finance and supply chain management. Expenses that are not may not Segment Information (in millions): Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Three months ended June 30, 2023 Segment net sales $ 1,066 $ 928 $ 423 $ 457 $ 231 $ 377 $ 3,482 Depreciation (1) $ 64 $ 120 $ 39 $ 32 $ 17 $ 35 $ 307 Research, development and engineering expenses (2) $ 56 $ 24 $ 57 $ 23 $ 8 $ 41 $ 209 Income tax provision (3) $ (38 ) $ (55 ) $ (9 ) $ (28 ) $ (3 ) $ (11 ) $ (144 ) Segment net income $ 140 $ 208 $ 33 $ 107 $ 11 $ 26 $ 525 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Three months ended June 30, 2022 Segment net sales $ 1,313 $ 878 $ 485 $ 356 $ 312 $ 418 $ 3,762 Depreciation (1) $ 68 $ 146 $ 42 $ 34 $ 16 $ 35 $ 341 Research, development and engineering expenses (2) $ 58 $ 30 $ 44 $ 24 $ 9 $ 38 $ 203 Income tax provision (3) $ (51 ) $ (59 ) $ (24 ) $ (16 ) $ (10 ) $ (10 ) $ (170 ) Segment net income $ 182 $ 228 $ 91 $ 62 $ 37 $ 25 $ 625 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Six months ended June 30, 2023 Segment net sales $ 2,191 $ 1,691 $ 829 $ 888 $ 487 $ 763 $ 6,849 Depreciation (1) $ 130 $ 243 $ 74 $ 65 $ 34 $ 68 $ 614 Research, development and engineering expenses (2) $ 116 $ 47 $ 110 $ 47 $ 18 $ 80 $ 418 Income tax provision (3) $ (81 ) $ (97 ) $ (19 ) $ (50 ) $ (5 ) $ (20 ) $ (272 ) Segment net income $ 299 $ 368 $ 72 $ 189 $ 20 $ 42 $ 990 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Six months ended June 30, 2022 Segment net sales $ 2,511 $ 1,837 $ 978 $ 765 $ 622 $ 793 $ 7,506 Depreciation (1) $ 127 $ 302 $ 82 $ 67 $ 30 $ 73 $ 681 Research, development and engineering expenses (2) $ 113 $ 61 $ 97 $ 49 $ 18 $ 78 $ 416 Income tax provision (3) $ (96 ) $ (122 ) $ (44 ) $ (36 ) $ (21 ) $ (11 ) $ (330 ) Segment net income $ 348 $ 464 $ 166 $ 136 $ 79 $ 17 $ 1,210 ( 1 Depreciation expense for Corning’s reportable segments includes an allocation of depreciation of corporate property not ( 2 Research, development and engineering expenses include direct project spending that is identifiable to a segment. ( 3 Income tax provision reflects a tax rate of 21% The following table presents a reconciliation of net sales of reportable segments to consolidated net sales (in millions): Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Net sales of reportable segments $ 3,105 $ 3,344 $ 6,086 $ 6,713 Net sales of Hemlock and Emerging Growth Businesses 377 418 763 793 Impact of constant currency reporting (1) (239 ) (147 ) (428 ) (211 ) Consolidated net sales $ 3,243 $ 3,615 $ 6,421 $ 7,295 ( 1 This amount primarily represents the impact of foreign currency adjustments in the Display Technologies segment. The following table presents a reconciliation of net income of reportable segments to consolidated net income (in millions): Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Net income of reportable segments $ 499 $ 600 $ 948 $ 1,193 Net income of Hemlock and Emerging Growth Businesses 26 25 42 17 Unallocated amounts: Impact of constant currency reporting (174 ) (120 ) (323 ) (183 ) Gain on foreign currency hedges related to translated earnings 116 196 108 325 Translation gain on Japanese yen-denominated debt 109 153 127 237 Research, development, and engineering expenses (1) (42 ) (37 ) (87 ) (72 ) Amortization of intangibles (31 ) (30 ) (62 ) (61 ) Interest expense, net (61 ) (60 ) (117 ) (121 ) Income tax benefit (provision) 38 4 129 (16 ) Severance charges (68 ) (73 ) Disposal of assets and other charges and credits (64 ) (46 ) (125 ) (79 ) Gain on sale of business 53 Other corporate items (67 ) (122 ) (110 ) (149 ) Net income attributable to Corning Incorporated $ 281 $ 563 $ 457 $ 1,144 ( 1 Amount does not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation and Principles of Consolidation In these notes, the terms “Corning,” “Company,” “we,” “us,” or “our” mean Corning Incorporated and its subsidiary companies. The consolidated financial statements include the consolidated accounts of Corning Incorporated and its subsidiaries consolidated in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, which include normal recurring adjustments, necessary to state fairly the financial position, results of operations and cash flows for the periods presented. All intercompany accounts, transactions and profits have been eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10 December 31, 2022 2022 10 not may The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities in the consolidated financial statements and related notes. Significant estimates and assumptions in these consolidated financial statements require the exercise of judgment. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may The non-controlling interest as recorded in the consolidated financial statements represents amounts attributable to the minority shareholders of Hemlock Semiconductor Group (“Hemlock”) and other less-than-wholly-owned consolidated subsidiaries. Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Telecommunication products $ 1,066 $ 1,313 $ 2,191 $ 2,511 Display products 725 759 1,334 1,665 Specialty glass products 420 485 824 978 Environmental substrate and filter products 433 336 840 737 Life science products 222 304 469 611 Polycrystalline silicon products 258 306 535 588 All other products 119 112 228 205 Total revenue $ 3,243 $ 3,615 $ 6,421 $ 7,295

Note 3 - Income Taxes (Tables)

Note 3 - Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Income Tax Provisions and Rates [Table Text Block]	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Provision for income taxes $ (106 ) $ (166 ) $ (143 ) $ (346 ) Effective tax rate 25.9 % 22.1 % 22.4 % 22.6 %

Note 4 - Earnings per Common _2

Note 4 - Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Net income attributable to Corning Incorporated $ 281 $ 563 $ 457 $ 1,144 Weighted-average common shares outstanding – basic 848 843 846 843 Effect of dilutive securities: Stock options and other awards 11 13 13 14 Weighted-average common shares outstanding – diluted 859 856 859 857 Basic earnings per common share $ 0.33 $ 0.67 $ 0.54 $ 1.36 Diluted earnings per common share $ 0.33 $ 0.66 $ 0.53 $ 1.33 Anti-dilutive potential shares excluded from diluted earnings Stock options and other awards 3 2 3 2

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2023 2022 Finished goods $ 1,234 $ 1,315 Work in process 553 571 Raw materials and accessories 515 537 Supplies and packing materials 455 481 Inventories $ 2,757 $ 2,904

Note 6 - Other Liabilities (Tab

Note 6 - Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Other Liabilities [Table Text Block]	June 30, December 31, 2023 2022 Current liabilities: Wages and employee benefits $ 460 $ 727 Income taxes 174 127 Derivative instruments (Note 10) 164 174 Deferred revenue (Note 2) 175 144 Customer deposits (Note 2) 151 132 Share repurchase liability (Note 12) 506 Short-term operating leases 103 111 Other current liabilities 1,478 1,226 Other accrued liabilities $ 2,705 $ 3,147 Non-current liabilities: Defined benefit pension plan liabilities $ 662 $ 668 Derivative instruments (Note 10) 54 17 Deferred revenue (Note 2) 665 725 Customer deposits (Note 2) 1,040 1,137 Deferred tax liabilities 217 243 Long-term operating leases 827 795 Other non-current liabilities 1,215 1,370 Other liabilities $ 4,680 $ 4,955

Note 8 - Employee Retirement _2

Note 8 - Employee Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Pension benefits Postretirement benefits Three months ended Six months ended Three months ended Six months ended June 30, June 30, June 30, June 30, 2023 2022 2023 2022 2023 2022 2023 2022 Service cost $ 27 $ 32 $ 50 $ 64 $ 2 $ 2 $ 3 $ 4 Interest cost 43 27 88 54 5 4 11 8 Expected return on plan assets (46 ) (54 ) (92 ) (109 ) Amortization of actuarial net gain (6 ) (11 ) Amortization of prior service cost (credit) 1 2 3 3 (1 ) (1 ) (2 ) (2 ) Recognition of actuarial loss (gain) 22 22 (1 ) (1 ) Special termination benefit charge 5 5 Total pension and postretirement benefit expense $ 30 $ 29 $ 54 $ 34 $ — $ 4 $ 1 $ 9

Note 10 - Hedging Activities (T

Note 10 - Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	Asset derivatives Liability derivatives Notional amount Balance Fair value Balance Fair value June December sheet June December sheet June December 30, 2023 31, 2022 location 30, 2023 31, 2022 location 30, 2023 31, 2022 Derivatives designated as hedging instruments (1) Foreign exchange and precious metals lease contracts (2) $ 310 $ 419 Other current assets $ 148 $ 26 Other accrued liabilities $ (1 ) Other assets 177 78 Derivatives not designated as hedging instruments Foreign exchange contracts 1,801 2,231 Other current assets 34 44 Other accrued liabilities $ (24 ) (49 ) Translated earnings contracts 6,014 7,543 Other current assets 412 384 Other accrued liabilities (140 ) (124 ) Other assets 114 146 Other liabilities (54 ) (17 ) Total derivatives $ 8,125 $ 10,193 $ 885 $ 678 $ (218 ) $ (191 )
Derivatives Not Designated as Hedging Instruments [Table Text Block]	June 30, December 31, 2023 2022 Average rate forward contracts: Japanese yen-denominated $ 0.2 $ 0.1 South Korean won-denominated 1.9 2.1 Other foreign currencies (1) 0.9 0.7 Option contracts: Japanese yen-denominated (2) 3.0 4.6 Total notional amount for translated earning contracts $ 6.0 $ 7.5
Not Designated as Hedging Instrument [Member]
Notes Tables
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Gain recognized in income Three months ended Six months ended Location of gain June 30, June 30, Undesignated derivatives recognized in income 2023 2022 2023 2022 Foreign exchange contracts Other income, net $ 15 $ 33 $ 28 $ 59 Translated earnings contracts Translated earnings contract gain, net 116 196 108 325 Total undesignated $ 131 $ 229 $ 136 $ 384
Designated as Hedging Instrument [Member]
Notes Tables
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Three months ended June 30, Location of gain (loss) Gain (loss) recognized reclassified from Gain (loss) reclassified Derivative hedging in other comprehensive accumulated from accumulated relationships for cash income (OCI) OCI into income OCI into income flow and fair value hedges 2023 2022 2023 2022 Net sales $ 13 Cost of sales $ 11 6 Foreign exchange contracts and other $ 42 $ (14 ) Other income, net (1 ) (1 ) Total cash flow and fair value hedges $ 42 $ (14 ) $ 10 $ 18 Six months ended June 30, Location of gain (loss) Gain recognized reclassified from Gain (loss) reclassified Derivative hedging in other comprehensive accumulated from accumulated relationships for cash income (OCI) OCI into income OCI into income flow and fair value hedges 2023 2022 2023 2022 Net sales $ 23 Cost of sales $ 18 13 Foreign exchange contracts and other $ 74 $ 20 Other income, net (2 ) (2 ) Total cash flow and fair value hedges $ 74 $ 20 $ 16 $ 34

Note 11 - Fair Value Measurem_2

Note 11 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2023 December 31, 2022 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Current assets: Other current assets (1) $ 649 $ 5 $ 594 $ 50 $ 505 $ 2 $ 454 $ 49 Non-current assets: Other assets (1) $ 295 $ 4 $ 291 $ 225 $ 224 $ 1 Current liabilities: Other accrued liabilities (1) $ 164 $ 164 $ 174 $ 174 Non-current liabilities: Other liabilities (1) $ 71 $ 71 $ 34 $ 34

Note 12 - Shareholders' Equity

Note 12 - Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Beginning balance $ (1,796 ) $ (1,133 ) $ (1,712 ) $ (933 ) Loss on foreign currency translation (2) (310 ) (635 ) (393 ) (833 ) Equity method affiliates (3) (8 ) (15 ) (9 ) (17 ) Net current-period other comprehensive loss (318 ) (650 ) (402 ) (850 ) Ending balance $ (2,114 ) $ (1,783 ) $ (2,114 ) $ (1,783 )

Note 13 - Share-based Compens_2

Note 13 - Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted Number average of shares grant-date (in thousands) fair value Non-vested shares and share units as of December 31, 2022 11,299 $ 29.19 Granted 7,105 35.07 Vested (4,219 ) 23.18 Forfeited (331 ) 34.10 Non-vested shares and share units as of June 30, 2023 13,854 $ 33.92
Share-Based Payment Arrangement, Performance Shares, Activity [Table Text Block]	Weighted Number average of shares grant-date (in thousands) fair value Non-vested share units as of December 31, 2022 4,696 $ 35.41 Granted 1,671 35.08 Vested (3,586 ) 33.37 Performance adjustments (405 ) 36.40 Forfeited (33 ) 36.18 Non-vested share units as of June 30, 2023 2,343 $ 38.62
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted- average Weighted- remaining Aggregate Number average contractual intrinsic of shares exercise term value (in thousands) price (in years) (in thousands) Options outstanding as of December 31, 2022 9,665 $ 22.92 Exercised (1,782 ) 19.67 Forfeited and expired (46 ) 19.65 Options outstanding as of June 30, 2023 7,837 23.67 5.48 $ 89,074 Options vested and exercisable as of June 30, 2023 7,837 23.67 5.48 89,074

Note 14 - Reportable Segments (

Note 14 - Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Three months ended June 30, 2023 Segment net sales $ 1,066 $ 928 $ 423 $ 457 $ 231 $ 377 $ 3,482 Depreciation (1) $ 64 $ 120 $ 39 $ 32 $ 17 $ 35 $ 307 Research, development and engineering expenses (2) $ 56 $ 24 $ 57 $ 23 $ 8 $ 41 $ 209 Income tax provision (3) $ (38 ) $ (55 ) $ (9 ) $ (28 ) $ (3 ) $ (11 ) $ (144 ) Segment net income $ 140 $ 208 $ 33 $ 107 $ 11 $ 26 $ 525 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Three months ended June 30, 2022 Segment net sales $ 1,313 $ 878 $ 485 $ 356 $ 312 $ 418 $ 3,762 Depreciation (1) $ 68 $ 146 $ 42 $ 34 $ 16 $ 35 $ 341 Research, development and engineering expenses (2) $ 58 $ 30 $ 44 $ 24 $ 9 $ 38 $ 203 Income tax provision (3) $ (51 ) $ (59 ) $ (24 ) $ (16 ) $ (10 ) $ (10 ) $ (170 ) Segment net income $ 182 $ 228 $ 91 $ 62 $ 37 $ 25 $ 625 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Six months ended June 30, 2023 Segment net sales $ 2,191 $ 1,691 $ 829 $ 888 $ 487 $ 763 $ 6,849 Depreciation (1) $ 130 $ 243 $ 74 $ 65 $ 34 $ 68 $ 614 Research, development and engineering expenses (2) $ 116 $ 47 $ 110 $ 47 $ 18 $ 80 $ 418 Income tax provision (3) $ (81 ) $ (97 ) $ (19 ) $ (50 ) $ (5 ) $ (20 ) $ (272 ) Segment net income $ 299 $ 368 $ 72 $ 189 $ 20 $ 42 $ 990 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Six months ended June 30, 2022 Segment net sales $ 2,511 $ 1,837 $ 978 $ 765 $ 622 $ 793 $ 7,506 Depreciation (1) $ 127 $ 302 $ 82 $ 67 $ 30 $ 73 $ 681 Research, development and engineering expenses (2) $ 113 $ 61 $ 97 $ 49 $ 18 $ 78 $ 416 Income tax provision (3) $ (96 ) $ (122 ) $ (44 ) $ (36 ) $ (21 ) $ (11 ) $ (330 ) Segment net income $ 348 $ 464 $ 166 $ 136 $ 79 $ 17 $ 1,210
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Net sales of reportable segments $ 3,105 $ 3,344 $ 6,086 $ 6,713 Net sales of Hemlock and Emerging Growth Businesses 377 418 763 793 Impact of constant currency reporting (1) (239 ) (147 ) (428 ) (211 ) Consolidated net sales $ 3,243 $ 3,615 $ 6,421 $ 7,295
Reconciliation of Net Income (Loss) from Segments to Consolidated [Table Text Block]	Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Net income of reportable segments $ 499 $ 600 $ 948 $ 1,193 Net income of Hemlock and Emerging Growth Businesses 26 25 42 17 Unallocated amounts: Impact of constant currency reporting (174 ) (120 ) (323 ) (183 ) Gain on foreign currency hedges related to translated earnings 116 196 108 325 Translation gain on Japanese yen-denominated debt 109 153 127 237 Research, development, and engineering expenses (1) (42 ) (37 ) (87 ) (72 ) Amortization of intangibles (31 ) (30 ) (62 ) (61 ) Interest expense, net (61 ) (60 ) (117 ) (121 ) Income tax benefit (provision) 38 4 129 (16 ) Severance charges (68 ) (73 ) Disposal of assets and other charges and credits (64 ) (46 ) (125 ) (79 ) Gain on sale of business 53 Other corporate items (67 ) (122 ) (110 ) (149 ) Net income attributable to Corning Incorporated $ 281 $ 563 $ 457 $ 1,144

Note 2 - Revenue (Details Textu

Note 2 - Revenue (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Contract with Customer, Liability, Customer Deposits	$ 1,200		$ 1,200		$ 1,300
Increase (Decrease) in Contract with Customer, Liability	12	$ 48	82	$ 131
HSG [Member]
Contract with Customer, Liability	$ 840		$ 840		$ 869
Maximum [Member]
Long Term Supply, Commitment Period (Year)			10 years

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net sales	$ 3,243	$ 3,615	$ 6,421	$ 7,295
Telecommunication Products [Member]
Net sales	1,066	1,313	2,191	2,511
Display Products [Member]
Net sales	725	759	1,334	1,665
Specialty Glass Products [Member]
Net sales	420	485	824	978
Environmental Substrate and Filter Products [Member]
Net sales	433	336	840	737
Life Science Products [Member]
Net sales	222	304	469	611
Polycrystalline Silicon [Member]
Net sales	258	306	535	588
Product and Service, Other [Member]
Net sales	$ 119	$ 112	$ 228	$ 205

Note 3 - Income Taxes (Details

Note 3 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	$ (99)		$ (99)
National Tax Service of Korea [Member]
Income Taxes Receivable, Noncurrent	$ 256		$ 256		$ 349

Note 3 - Income Taxes - Provisi

Note 3 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Provision for income taxes (Note 3)	$ (106)	$ (166)	$ (143)	$ (346)
Effective tax rate	25.90%	22.10%	22.40%	22.60%

Note 4 - Earnings Per Common _3

Note 4 - Earnings Per Common Share - Reconciliation of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income attributable to Corning Incorporated	$ 281	$ 563	$ 457	$ 1,144
Weighted-average common shares outstanding – basic (in shares)	848	843	846	843
Stock options and other awards (in shares)	11	13	13	14
Weighted-average common shares outstanding – diluted (in shares)	859	856	859	857
Basic (Note 4) (in dollars per share)	$ 0.33	$ 0.67	$ 0.54	$ 1.36
Diluted (Note 4) (in dollars per share)	$ 0.33	$ 0.66	$ 0.53	$ 1.33
Stock options and other awards (in shares)	3	2	3	2

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Finished goods	$ 1,234	$ 1,315
Work in process	553	571
Raw materials and accessories	515	537
Supplies and packing materials	455	481
Inventories	$ 2,757	$ 2,904

Note 6 - Other Liabilities - Ot

Note 6 - Other Liabilities - Other Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Wages and employee benefits	$ 460	$ 727
Income taxes	174	127
Derivative instruments (Note 10)	164	174
Deferred revenue (Note 2)	175	144
Customer deposits (Note 2)	151	132
Share repurchase liability (Note 12)		506
Short-term operating leases	103	111
Other current liabilities	1,478	1,226
Other accrued liabilities	2,705	3,147
Defined benefit pension plan liabilities	662	668
Derivative instruments (Note 10)	54	17
Deferred revenue (Note 2)	665	725
Customer deposits (Note 2)	1,040	1,137
Deferred tax liabilities	217	243
Long-term operating leases	827	795
Other non-current liabilities	1,215	1,370
Other liabilities	$ 4,680	$ 4,955

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) $ in Thousands, € in Millions		6 Months Ended
	May 15, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	May 15, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Long-Term Debt and Lease Obligation		$ 7,437,000			$ 6,687,000
Commercial Paper [Member]
Short-Term Debt		0			0
The 2026 Notes [Member]
Debt Instrument, Face Amount | €				€ 300
Debt Instrument, Interest Rate, Stated Percentage				3.875%
The 2031 Notes [Member]
Debt Instrument, Face Amount | €				€ 550
Debt Instrument, Interest Rate, Stated Percentage				4.125%
Notes 2026 and Notes 2031 [Member]
Proceeds from Issuance of Long-Term Debt	$ 918,000	918,000
Long-Term Debt		920,000
Fair Value, Inputs, Level 2 [Member]
Long-Term Debt, Fair Value		$ 7,100,000			$ 6,100,000

Note 8 - Employee Retirement _3

Note 8 - Employee Retirement Plans (Details Textual) $ in Millions	Jun. 30, 2023 USD ($)
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	$ 25

Note 8 - Employee Retirement _4

Note 8 - Employee Retirement Plans - Net Periodic Benefit Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Plan [Member]
Service cost	$ 27	$ 32	$ 50	$ 64
Interest cost	43	27	88	54
Expected return on plan assets	(46)	(54)	(92)	(109)
Amortization of actuarial net gain
Amortization of prior service cost (credit)	1	2	3	3
Recognition of actuarial loss (gain)		22		22
Special termination benefit charge	5		5
Total pension and postretirement benefit expense	30	29	54	34
Other Postretirement Benefits Plan [Member]
Service cost	2	2	3	4
Interest cost	5	4	11	8
Expected return on plan assets
Amortization of actuarial net gain	(6)		(11)
Amortization of prior service cost (credit)	(1)	(1)	(2)	(2)
Recognition of actuarial loss (gain)		(1)		(1)
Special termination benefit charge
Total pension and postretirement benefit expense	$ 0	$ 4	$ 1	$ 9

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Details Textual) $ in Millions		6 Months Ended
	May 31, 2016	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 01, 2016
Environmental Litigation [Member]
Number of Hazardous Waste Sites		19
Accrual for Environmental Loss Contingencies		$ 94	$ 109
Dow Corning Corporation [Member] | Dow Corning Chapter 11 Related Matters [Member]
Equity Method Investment, Ownership Percentage				50%
Indemnification of Excess Liability	50%
Dow Corning Corporation [Member] | Dow Corning Environmental Claims [Member]
Indemnification of Excess Liability		50%

Note 10 - Hedging Activities (D

Note 10 - Hedging Activities (Details Textual) € in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) ozt	Dec. 31, 2022 USD ($) GT	Jun. 30, 2023 EUR (€)	May 15, 2023 EUR (€)
Derivative, Notional Amount	$ 8,125	$ 10,193
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	41
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	76	19
Net Investment Hedging [Member]
Non-derivative, Notional Amount | €				€ 850
Non-derivative Asset, Subject to Master Netting Arrangement, before Offset	920		€ 850
New Investment Hedges [Member] | Cash Flow Hedging [Member]
Derivative, Notional Amount	310	419
Leased Precious Metal Pools [Member]
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	(269)	(95)
Leased Precious Metal Pools [Member] | Property and Equipment, Net [Member]
Derivative Instruments in Hedges, Assets, at Fair Value	104	278
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative, Notional Amount	$ 310	$ 419
Derivative, Nonmonetary Notional Amount, Mass (Troy Ounce)	23,152	23,152

Note 10 - Hedging Activities -

Note 10 - Hedging Activities - Summary of Notional Amounts and Respective Fair Values of Derivative Financial Instruments (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Notional amount		$ 8,125	$ 10,193
Asset derivatives, fair value		885	678
Liability derivatives, fair value		(218)	(191)
Not Designated as Hedging Instrument [Member]
Notional amount		6,000	7,500
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Notional amount		310	419
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Asset derivatives, fair value	[1]	148	26
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]
Liability derivatives, fair value	[2]		(1)
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Asset derivatives, fair value		177	78
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Notional amount		1,801	2,231
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Asset derivatives, fair value		34	44
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]
Liability derivatives, fair value		(24)	(49)
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member]
Notional amount		6,014	7,543
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Asset derivatives, fair value		412	384
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]
Liability derivatives, fair value		(140)	(124)
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member]
Asset derivatives, fair value		114	146
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Liability derivatives, fair value		$ (54)	$ (17)
[1]Excludes €850 million of euro-denominated debt ($920 million equivalent as of June 30, 2023), which is designated as a net investment hedge.[2]As of June 30, 2023, derivatives designated as hedging instruments include foreign exchange cash flow hedges with total notional amounts of $310 million and fair value hedges of leased precious metals with total notional amounts of 23,152 troy ounces. As of December 31, 2022, derivatives designated as hedging instruments include foreign exchange cash flow hedges with total notional amounts of $419 million and fair value hedges of leased precious metals with total notional amounts of 23,152 troy ounces.

Note 10 - Hedging Activities _2

Note 10 - Hedging Activities - Undesignated Hedges (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Gross notional value for translated earning contracts		$ 8,125	$ 10,193
Not Designated as Hedging Instrument [Member]
Gross notional value for translated earning contracts		6,000	7,500
Average Rate Forward Contracts, Japanese Yen-denominated [Member] | Not Designated as Hedging Instrument [Member]
Gross notional value for translated earning contracts		200	100
Average Rate Forward Contracts, South Korean Won-denominated [Member] | Not Designated as Hedging Instrument [Member]
Gross notional value for translated earning contracts		1,900	2,100
Average Rate Forward Contracts, Other Foreign Currencies [Member] | Not Designated as Hedging Instrument [Member]
Gross notional value for translated earning contracts	[1]	900	700
Options Contracts, Japanese Yen-denominated [Member] | Not Designated as Hedging Instrument [Member]
Gross notional value for translated earning contracts	[2]	$ 3,000	$ 4,600
[1]Denominational currencies for other average rate forward contracts include the Chinese yuan, New Taiwan dollar, and British pound.[2]Japanese yen-denominated option contracts include zero-cost collars, purchased put and call options. With respect to the zero-cost collars, the gross notional amount includes the value of the put and call options. However, due to the nature of the zero-cost collars, only the put or call option can be exercised at maturity.

Note 10 - Hedging Activities _3

Note 10 - Hedging Activities - Summary of Effect of Designated Derivative Financial Instruments on Consolidated Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Consolidated net sales	$ 3,243	$ 3,615	$ 6,421	$ 7,295
Cost of sales	2,230	2,369	4,405	4,766
Gain (loss) recognized in other comprehensive income	42	(14)	74	20
Foreign exchange contracts and other	87	133	95	285
Net income attributable to Corning Incorporated	281	563	457	1,144
Foreign Exchange Contract [Member]
Gain (loss) recognized in other comprehensive income	42	(14)	74	20
Reclassification out of Accumulated Other Comprehensive Income [Member]
Consolidated net sales		13		23
Cost of sales	11	6	18	13
Foreign exchange contracts and other	(1)	(1)	(2)	(2)
Net income attributable to Corning Incorporated	$ 10	$ 18	$ 16	$ 34

Note 10 - Hedging Activities _4

Note 10 - Hedging Activities - Summary of Effect of Undesignated Derivative Financial Instruments on Consolidated Financial Statements (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gain (loss) recognized in income	$ 131	$ 229	$ 136	$ 384
Foreign Exchange Contract [Member] | Other (Expense) Income, Net [Member]
Gain (loss) recognized in income	15	33	28	59
Translated Earnings Contracts [Member] | Translated Earnings Contract (Loss) Gain, Net [Member]
Gain (loss) recognized in income	$ 116	$ 196	$ 108	$ 325

Note 11 - Fair Value Measurem_3

Note 11 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Other current assets	[1]	$ 649	$ 505
Other assets	[1]	295	225
Other accrued liabilities	[1]	164	174
Other liabilities	[1]	71	34
Fair Value, Inputs, Level 1 [Member]
Other current assets	[1]	5	2
Other assets	[1]	4
Fair Value, Inputs, Level 2 [Member]
Other current assets	[1]	594	454
Other assets	[1]	291	224
Other accrued liabilities	[1]	164	174
Other liabilities	[1]	71	34
Fair Value, Inputs, Level 3 [Member]
Other current assets	[1]	$ 50	49
Other assets	[1]		$ 1
[1]Derivative assets and liabilities mainly consist of foreign exchange contracts which were measured using observable inputs for similar assets and liabilities.

Note 12 - Shareholders' Equit_2

Note 12 - Shareholders' Equity (Details Textual) - USD ($) $ in Millions				3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 23, 2023	Apr. 08, 2022	Apr. 08, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Apr. 05, 2022	Jan. 16, 2021	Dec. 31, 2020	Dec. 31, 2019
Payments for Repurchase of Common Stock							$ 201
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Other Comprehensive Income (Loss), Tax				$ 3	$ 27	$ 19	$ 38
Share Repurchase Agreement [Member] | Samsung [Member]
Stock Repurchased and Retired During Period, Shares (in shares)			35,000,000
Payments for Repurchase of Common Stock	$ 507	$ 507	$ 507					$ 1,500
The 2019 Repurchase Program [Member]
Stock Repurchase Program, Authorized Amount											$ 5,000
Treasury Stock, Shares, Acquired (in shares)				0	1,600,000	0	5,500,000
Treasury Stock, Value, Acquired, Cost Method					$ 53		$ 204
Stock Repurchase Program, Remaining Authorized Repurchase Amount				$ 3,300		$ 3,300
Series A Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding (in shares)										2,300
Preferred Stock, Convertible, Shares Issuable (in shares)									115,000,000

Note 12 - Shareholders' Equity-

Note 12 - Shareholders' Equity- Summary of Changes in Foreign Currency Translation Adjustment Component of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Balance		$ 12,207	$ 12,629	$ 12,275	$ 12,545
Loss on foreign currency translation (2)		(318)	(650)	(402)	(850)
Net current-period other comprehensive loss		(302)	(732)	(369)	(919)
Balance		11,710	11,982	11,710	11,982
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	[1]	(1,796)	(1,133)	(1,712)	(933)
Loss on foreign currency translation (2)	[1],[2]	(310)	(635)	(393)	(833)
Equity method affiliates (3)	[1],[3]	(8)	(15)	(9)	(17)
Net current-period other comprehensive loss		(318)	(650)	(402)	(850)
Balance	[1]	$ (2,114)	$ (1,783)	$ (2,114)	$ (1,783)
[1]All amounts are after tax. Amounts in parentheses indicate debits to accumulated other comprehensive (loss) income.[2]For the three and six months ended June 30, 2023, amounts are net of tax benefit of $3 million and $19 million, respectively. For the three and six months ended June 30, 2022, amounts are net of tax benefit of $27 million and $38 million, respectively.[3]Tax effects are not significant.

Note 13 - Share-based Compens_3

Note 13 - Share-based Compensation (Details Textual) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expense	$ 59	$ 111	$ 51	$ 93
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			0	0

Note 13 - Share-based Compens_4

Note 13 - Share-based Compensation - Summary of Restricted Stock and Restricted Stock Units (Details) - Restricted Stock and Restricted Stock Units [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Non-vested shares and share units as of December 31, 2022 (in shares) | shares	11,299
Non-vested shares and share units as of December 31, 2022 (in dollars per share) | $ / shares	$ 29.19
Granted, number of shares (in shares) | shares	7,105
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 35.07
Vested, number of shares (in shares) | shares	(4,219)
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 23.18
Forfeited, number of shares (in shares) | shares	(331)
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 34.10
Non-vested shares and share units as of June 30, 2023 (in shares) | shares	13,854
Non-vested shares and share units as of June 30, 2023 (in dollars per share) | $ / shares	$ 33.92

Note 13 - Share-based Compens_5

Note 13 - Share-based Compensation - Summary of Performance-based Restricted Stock Units (Details) - Performance Shares [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Non-vested shares and share units as of December 31, 2022 (in shares) | shares	4,696
Non-vested shares and share units as of December 31, 2022 (in dollars per share) | $ / shares	$ 35.41
Granted, number of shares (in shares) | shares	1,671
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 35.08
Vested, number of shares (in shares) | shares	(3,586)
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 33.37
Performance adjustments (in shares) | shares	(405)
Performance adjustments (in dollars per share) | $ / shares	$ 36.40
Forfeited, number of shares (in shares) | shares	(33)
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 36.18
Non-vested shares and share units as of June 30, 2023 (in shares) | shares	2,343
Non-vested shares and share units as of June 30, 2023 (in dollars per share) | $ / shares	$ 38.62

Note 13 - Share-based Compens_6

Note 13 - Share-based Compensation - Summary of Stock Options Outstanding (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Beginning Options Outstanding, number of shares (in shares) | shares	9,665
Beginning Options Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 22.92
Exercised, number of shares (in shares) | shares	(1,782)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 19.67
Forfeited and Expired, number of shares (in shares) | shares	(46)
Forfeited and Expired, weighted average exercise price (in dollars per share) | $ / shares	$ 19.65
Ending Options Outstanding, number of shares (in shares) | shares	7,837
Ending Options Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 23.67
Options Outstanding, weighted average remaining contractual term (Year)	5 years 5 months 23 days
Options Outstanding, aggregate intrinsic value | $	$ 89,074
Options vested and exercisable, number of shares (in shares) | shares	7,837
Options vested and exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 23.67
Options vested and exercisable, weighted average remaining contractual term (Year)	5 years 5 months 23 days
Options vested and exercisable, aggregate intrinsic value | $	$ 89,074

Note 14 - Reportable Segments_2

Note 14 - Reportable Segments (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Number of Reportable Segments	5	5	5	5
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%

Note 14 - Reportable Segments -

Note 14 - Reportable Segments - Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023		Jun. 30, 2022
Depreciation (1)			$ 622		$ 687
Research, development and engineering expenses (2)	$ 263	$ 240	517		488
Income tax provision (3)	106	166	143		346
Net income of reportable segments	281	563	457		1,144
Operating Segments [Member]
Net sales of reportable segments	3,482	3,762	6,849		7,506
Depreciation (1)	307	341	614		681
Research, development and engineering expenses (2)	209	203	418		416
Income tax provision (3)	(144)	(170)	(272)		(330)
Net income of reportable segments	525	625	990		1,210
Optical Communications [Member] | Operating Segments [Member]
Net sales of reportable segments	1,066	1,313	2,191		2,511
Depreciation (1)	64	68	130		127
Research, development and engineering expenses (2)	56	58	116		113
Income tax provision (3)	(38)	(51)	(81)	[1]	(96)
Net income of reportable segments	140	182	299		348
Display Products [Member] | Operating Segments [Member]
Net sales of reportable segments	928	878	1,691		1,837
Depreciation (1)	120	146	243		302
Research, development and engineering expenses (2)	24	30	47		61
Income tax provision (3)	(55)	(59)	(97)		(122)
Net income of reportable segments	208	228	368		464
Specialty Materials [Member] | Operating Segments [Member]
Net sales of reportable segments	423	485	829		978
Depreciation (1)	39	42	74		82
Research, development and engineering expenses (2)	57	44	110	[2]	97
Income tax provision (3)	(9)	(24)	(19)		(44)
Net income of reportable segments	33	91	72		166
Environmental Technologies [Member] | Operating Segments [Member]
Net sales of reportable segments	457	356	888		765
Depreciation (1)	32	34	65	[3]	67
Research, development and engineering expenses (2)	23	24	47		49
Income tax provision (3)	(28)	(16)	(50)		(36)
Net income of reportable segments	107	62	189		136
Life Science Products [Member] | Operating Segments [Member]
Net sales of reportable segments	231	312	487		622
Depreciation (1)	17	16	34		30
Research, development and engineering expenses (2)	8	9	18		18
Income tax provision (3)	(3)	(10)	(5)		(21)
Net income of reportable segments	11	37	20		79
Hemlock and Emerging Growth Businesses [Member]
Net sales of reportable segments	377	418	763		793
Depreciation (1)	35	35	68		73
Research, development and engineering expenses (2)	41	38	80		78
Income tax provision (3)	(11)	(10)	(20)		(11)
Net income of reportable segments	$ 26	$ 25	$ 42		$ 17
[1]Income tax provision reflects a tax rate of 21%.[2]Research, development and engineering expenses include direct project spending that is identifiable to a segment.[3]Depreciation expense for Corning’s reportable segments includes an allocation of depreciation of corporate property not specifically identifiable to a segment.

Note 14 - Reportable Segments_3

Note 14 - Reportable Segments - Reconciliation of Reportable Segments and All Other Net Sales to Consolidated Net Sales (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Consolidated net sales		$ 3,243	$ 3,615	$ 6,421	$ 7,295
Hemlock and Emerging Growth Businesses [Member]
Net sales of reportable segments		377	418	763	793
Operating Segments [Member]
Net sales of reportable segments		3,482	3,762	6,849	7,506
Operating Segments [Member] | Reportable Segments [Member]
Net sales of reportable segments		3,105	3,344	6,086	6,713
Segment Reconciling Items [Member]
Impact of constant currency reporting (1)	[1]	$ (239)	$ (147)	$ (428)	$ (211)
[1]This amount primarily represents the impact of foreign currency adjustments in the Display Technologies segment.

Note 14 - Reportable Segments_4

Note 14 - Reportable Segments - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income of reportable segments		$ 281	$ 563	$ 457	$ 1,144
Gain on foreign currency hedges related to translated earnings		116	196	108	325
Research, development, and engineering expenses (1)		(263)	(240)	(517)	(488)
Amortization of intangibles		(31)	(30)	(62)	(61)
Interest expense, net		(81)	(72)	(157)	(143)
Provision for income taxes (Note 3)		(106)	(166)	(143)	(346)
Severance charges				(73)
Gain on sale of business					53
Operating Segments [Member]
Net income of reportable segments		525	625	990	1,210
Research, development, and engineering expenses (1)		(209)	(203)	(418)	(416)
Provision for income taxes (Note 3)		144	170	272	330
Operating Segments [Member] | Reportable Segments [Member]
Net income of reportable segments		499	600	948	1,193
Operating Segments [Member] | Nonreportable Segments [Member]
Net income of reportable segments		26	25	42	17
Segment Reconciling Items [Member]
Net income of reportable segments		281	563	457	1,144
Impact of constant currency reporting		(174)	(120)	(323)	(183)
Gain on foreign currency hedges related to translated earnings		116	196	108	325
Translation gain on Japanese yen-denominated debt		109	153	127	237
Research, development, and engineering expenses (1)	[1]	(42)	(37)	(87)	(72)
Amortization of intangibles		(31)	(30)	(62)	(61)
Interest expense, net		(61)	(60)	(117)	(121)
Provision for income taxes (Note 3)		38	4	129	(16)
Severance charges		(68)		(73)
Disposal of assets and other charges and credits		(64)	(46)	(125)	(79)
Gain on sale of business					53
Other corporate items		$ (67)	$ (122)	$ (110)	$ (149)
[1]Amount does not include research, development, and engineering expense related to restructuring, impairment and other charges and credits.