Corning (GLW) 10-Q 1 Nov 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 24, 2024
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	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		856,208,758
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 (Los

Consolidated Statements of (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales	$ 3,391	$ 3,173	$ 9,617	$ 9,594
Cost of sales	2,254	2,169	6,538	6,574
Gross margin	1,137	1,004	3,079	3,020
Operating expenses:
Selling, general and administrative expenses	510	468	1,432	1,329
Research, development and engineering expenses	294	270	814	787
Amortization of purchased intangibles	31	30	91	92
Operating income	302	236	742	812
Interest income	12	10	34	25
Interest expense	(83)	(82)	(250)	(239)
Translated earnings contract (loss) gain, net (Note 12)	(157)	20	(91)	128
Other (loss) income, net	(166)	33	(59)	128
(Loss) income before income taxes	(92)	217	376	854
Provision for income taxes (Note 4)	(3)	(35)	(124)	(178)
Net (loss) income	(95)	182	252	676
Net income attributable to non-controlling interest	(22)	(18)	(56)	(55)
Net (loss) income attributable to Corning Incorporated	$ (117)	$ 164	$ 196	$ 621
(Loss) earnings per common share available to common shareholders:
Basic (Note 5) (in dollars per share)	$ (0.14)	$ 0.19	$ 0.23	$ 0.73
Diluted (Note 5) (in dollars per share)	$ (0.14)	$ 0.19	$ 0.23	$ 0.72

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net (loss) income	$ (95)	$ 182	$ 252	$ 676
Foreign currency translation adjustments and other	625	(191)	73	(593)
Unamortized (losses) gains and prior service costs for postretirement benefit plans	(7)	(1)	32	(9)
Realized and unrealized (losses) gains on derivatives	(34)	(11)	(65)	30
Other comprehensive income (loss), net of tax	584	(203)	40	(572)
Comprehensive income (loss)	489	(21)	292	104
Comprehensive income attributable to non-controlling interest	(22)	(18)	(56)	(55)
Comprehensive income (loss) attributable to Corning Incorporated	$ 467	$ (39)	$ 236	$ 49

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,613	$ 1,779
Trade accounts receivable, net of doubtful accounts - $33 and $30	1,986	1,572
Inventories (Note 6)	2,793	2,666
Other current assets	1,284	1,195
Total current assets	7,676	7,212
Property, plant and equipment, net of accumulated depreciation - $15,140 and $14,553	14,059	14,630
Goodwill	2,390	2,380
Other intangible assets, net	814	905
Deferred income taxes (Note 4)	1,211	1,153
Other assets	2,172	2,220
Total Assets	28,322	28,500
Current liabilities:
Current portion of long-term debt and short-term borrowings (Note 8)	335	320
Accounts payable	1,565	1,466
Other accrued liabilities (Notes 7 and 11)	2,737	2,533
Total current liabilities	4,637	4,319
Long-term debt (Note 8)	7,073	7,206
Postretirement benefits other than pensions (Note 9)	357	398
Other liabilities (Notes 7 and 11)	4,788	4,709
Total liabilities	16,855	16,632
Commitments and contingencies (Note 11)
Shareholders’ equity (Note 13):
Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1.8 billion and 1.8 billion	920	916
Additional paid-in capital – common stock	17,177	16,929
Retained earnings	15,859	16,391
Treasury stock, at cost; Shares held: 986 million and 980 million	(20,845)	(20,637)
Accumulated other comprehensive loss	(2,008)	(2,048)
Total Corning Incorporated shareholders’ equity	11,103	11,551
Non-controlling interest	364	317
Total equity	11,467	11,868
Total Liabilities and Equity	$ 28,322	$ 28,500

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Doubtful accounts and allowances	$ 33	$ 30
Accumulated depreciation	$ 15,140	$ 14,553
Common stock, par value (in dollars per share)	$ 0.5	$ 0.5
Common stock, shares authorized (in shares)	3,800	3,800
Common stock, shares issued (in shares)	1,800	1,800
Treasury stock Shares (in shares)	986	980

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net income	$ 252	$ 676
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	924	932
Amortization of purchased intangibles	91	92
Loss on disposal of assets, net	135	72
Share-based compensation expense	202	168
Translation gain on Japanese yen-denominated debt	(28)	(162)
Deferred tax (benefit) provision	(51)	37
Translated earnings contract loss (gain), net	91	(128)
Release of cumulative translation losses	62
Tax deposit refund		99
Changes in assets and liabilities:
Trade accounts receivable	(493)	(137)
Inventories	(134)	131
Other current assets	(138)	(58)
Accounts payable and other current liabilities	266	(264)
Customer deposits and government incentives	48	(17)
Deferred income	23	(11)
Other, net	66	(138)
Net cash provided by operating activities	1,316	1,292
Cash Flows from Investing Activities:
Capital expenditures	(711)	(1,111)
Proceeds from sale of equipment to related party		67
Realized gains on translated earnings contracts and other	239	270
Other, net	(65)	4
Net cash used in investing activities	(537)	(770)
Cash Flows from Financing Activities:
Repayments of debt	(254)	(180)
Proceeds from issuance of debt	153	80
Proceeds from issuance of euro bonds		918
Proceeds from other financing arrangements		54
Repayment of other financing arrangements		(54)
Payment for redemption of preferred stock		(507)
Payments of employee withholding tax on stock awards	(76)	(103)
Proceeds from exercise of stock options	57	39
Purchases of common stock for treasury	(135)
Dividends paid	(737)	(741)
Other, net	(20)	(26)
Net cash used in financing activities	(944)	(520)
Effect of exchange rates on cash	(1)	(34)
Net decrease in cash and cash equivalents	(166)	(32)
Cash and cash equivalents at beginning of period	1,779	1,671
Cash and cash equivalents at end of period	1,613	1,639
Currency Swap [Member]
Cash Flows from Financing Activities:
Proceeds from cross currency swap	$ 68

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, 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)	[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)									676
Balance at Sep. 30, 2023		915	16,877	16,673	(20,633)	(2,402)	11,430	314	11,744
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)	[1]				(82)		(82)	(5)	(87)
Balance at Jun. 30, 2023		915	16,817	16,509	(20,630)	(2,199)	11,412	298	11,710
Net income (loss)				164			164	18	182
Other comprehensive income (loss)						(203)	(203)	(1)	(204)
Shares issued to benefit plans and for option exercises			60				60		60
Other, net (1)	[1]				(3)		(3)	(1)	(4)
Balance at Sep. 30, 2023		915	16,877	16,673	(20,633)	(2,402)	11,430	314	11,744
Balance at Dec. 31, 2023		916	16,929	16,391	(20,637)	(2,048)	11,551	317	11,868
Net income (loss)				209			209	16	225
Other comprehensive income (loss)						(327)	(327)	(1)	(328)
Shares issued to benefit plans and for option exercises		1	69				70		70
Common dividends				(242)			(242)		(242)
Other, net (1)	[1]				(35)		(35)	1	(34)
Balance at Mar. 31, 2024		917	16,998	16,358	(20,672)	(2,375)	11,226	333	11,559
Balance at Dec. 31, 2023		916	16,929	16,391	(20,637)	(2,048)	11,551	317	11,868
Net income (loss)									252
Balance at Sep. 30, 2024		920	17,177	15,859	(20,845)	(2,008)	11,103	364	11,467
Balance at Mar. 31, 2024		917	16,998	16,358	(20,672)	(2,375)	11,226	333	11,559
Net income (loss)				104			104	18	122
Other comprehensive income (loss)						(217)	(217)		(217)
Shares issued to benefit plans and for option exercises		2	83				85		85
Common dividends				(486)			(486)		(486)
Other, net (1)	[1]				(24)		(24)	(9)	(33)
Purchase of common stock for treasury					(103)		(103)		(103)
Balance at Jun. 30, 2024		919	17,081	15,976	(20,799)	(2,592)	10,585	342	10,927
Net income (loss)				(117)			(117)	22	(95)
Other comprehensive income (loss)						584	584	1	585
Shares issued to benefit plans and for option exercises		1	96				97		97
Other, net (1)	[1]				(16)		(16)	(1)	(17)
Purchase of common stock for treasury					(30)		(30)		(30)
Balance at Sep. 30, 2024		$ 920	$ 17,177	$ 15,859	$ (20,845)	$ (2,008)	$ 11,103	$ 364	$ 11,467
[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, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Common Dividends (in dollars per share)	$ 0.56	$ 0.28	$ 0.56	$ 0.28

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
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, 2023 2023 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 (“HSG”) 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 - Restructuring, Impairm

Note 2 - Restructuring, Impairment and Other Charges and Credits	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	2. The following table presents details of the restructuring, impairment and other charges and credits incurred (in millions): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Severance (1) $ 43 $ 13 $ 46 $ 91 Capacity realignment (1) 16 49 133 92 Other charges and credits (2) 75 10 84 92 Total restructuring, impairment and other charges and credits (3) $ 134 $ 72 $ 263 $ 275 ( 1 For the three nine September 30, 2024, ( 2 For the three nine September 30, 2024, ( 3 Amounts recorded in cost of sales in the consolidated statements of (loss) income were $47 million and $168 million for the three nine September 30, 2024, three nine September 30, 2023,

Note 3 - Revenue

Note 3 - Revenue	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. Disaggregated Revenue The following table presents revenues by product category (in millions): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Telecommunication products $ 1,246 $ 918 $ 3,289 $ 3,109 Display products 707 727 2,043 2,061 Specialty glass products 543 560 1,490 1,384 Environmental substrate and filter products 362 420 1,193 1,260 Life science products 235 221 697 690 Polycrystalline silicon products 194 230 609 765 All other products 104 97 296 325 Total revenue $ 3,391 $ 3,173 $ 9,617 $ 9,594 Customer Deposits As of September 30, 2024 December 31, 2023 ten For the three September 30, 2024 2023 nine September 30, 2024 2023 Refer to Note 7 Deferred Revenue As of September 30, 2024 December 31, 2023 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 nine September 30, 2024 2023 not Refer to Note 7

Note 4 - Income Taxes

Note 4 - Income Taxes	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	4. The following table presents the provision for income taxes and the related effective tax rate (in millions, except percentages): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Provision for income taxes $ (3 ) $ (35 ) $ (124 ) $ (178 ) Effective tax rate (3.3 %) 16.1 % 33.0 % 20.8 % For the three September 30, 2024 no 2023 nine September 30, 2024, no For the three September 30, 2023 2022 nine September 30, 2023, 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 September 30, 2024 December 31, 2023 not

Note 5 - (Loss) Earnings Per Co

Note 5 - (Loss) Earnings Per Common Share	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	5. The following table presents the reconciliation of the amounts used to compute basic and diluted (loss) earnings per common share (in millions, except per share amounts): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net (loss) income attributable to Corning Incorporated $ (117 ) $ 164 $ 196 $ 621 Weighted-average common shares outstanding – basic 854 850 853 848 Effect of dilutive securities: Stock options and other awards 9 15 10 Weighted-average common shares outstanding – diluted 854 859 868 858 Basic (loss) earnings per common share $ (0.14 ) $ 0.19 $ 0.23 $ 0.73 Diluted (loss) earnings per common share $ (0.14 ) $ 0.19 $ 0.23 $ 0.72 Anti-dilutive potential shares excluded from diluted (loss) earnings per common share: Stock options and other awards 18 3 3

Note 6 - Inventories

Note 6 - Inventories	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	6. Inventories consisted of the following (in millions): September 30, December 31, 2024 2023 Finished goods $ 1,354 $ 1,242 Work in process 566 551 Raw materials and accessories 457 445 Supplies and packing materials 416 428 Inventories $ 2,793 $ 2,666

Note 7 - Other Liabilities

Note 7 - Other Liabilities	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	7. Other liabilities consisted of the following (in millions): September 30, December 31, 2024 2023 Current liabilities: Wages and employee benefits $ 712 $ 609 Income taxes 80 69 Derivative instruments (Note 12) 102 66 Deferred revenue (Note 3) 205 181 Customer deposits (Note 3) 179 148 Short-term operating leases 93 112 Other current liabilities 1,366 1,348 Other accrued liabilities $ 2,737 $ 2,533 Non-current liabilities: Defined benefit pension plan liabilities $ 719 $ 721 Derivative instruments (Note 12) 136 31 Deferred revenue (Note 3) 678 679 Customer deposits (Note 3) 1,009 1,083 Deferred tax liabilities 204 218 Long-term operating leases 840 846 Other non-current liabilities 1,202 1,131 Other liabilities $ 4,788 $ 4,709

Note 8 - Debt

Note 8 - Debt	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	8. Based on borrowing rates currently available to us for loans with similar terms and maturities, the fair value of long-term debt was $7.0 billion as of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 2 In the second 2024, ¥23 three 2027. 12 On May 15, 2023, €300 2026 “2026 €550 2031 “2031 2026 2031 September 30, 2024 2026 2031 12

Note 9 - Employee Retirement Pl

Note 9 - Employee Retirement Plans	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	9. The following table presents the components of net periodic pension and postretirement benefit (income) expense for employee retirement plans, which other than the service cost component is recorded in other (loss) income, net in the consolidated statements of (loss) income (in millions): Pension benefits Postretirement benefits Three months ended Nine months ended Three months ended Nine months ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 2024 2023 2024 2023 Service cost $ 25 $ 25 $ 73 $ 75 $ 1 $ 2 $ 4 Interest cost 46 45 138 133 $ 4 6 14 17 Expected return on plan assets (48 ) (46 ) (144 ) (138 ) Amortization of actuarial net gain (6 ) (6 ) (18 ) (17 ) Amortization of prior service cost (credit) 1 2 4 5 (1 ) (2 ) (5 ) (4 ) Recognition of actuarial (gain) loss (31 ) 12 (31 ) (16 ) Special termination benefit charge 3 6 5 Total pension and postretirement benefit (income) expense $ (4 ) $ 38 $ 46 $ 64 $ (3 ) $ (1 ) $ (7 ) $ —

Note 10 - Leases

Note 10 - Leases	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Lessee, Operating And Finance Leases [Text Block]	10. On March 12, 2024, The Facility Lease will commence upon completion of construction of the Facility, which is expected to be in the later part of 2025, five 2025, 2026, 2027 2028, In conjunction with the Facility Lease, Corning entered into an equipment lease (“Equipment Lease”) on June 17, 2024, The Equipment Lease will commence upon completion of the equipment installation, which is expected to be in the later part of 2025, five 2025, 2026, 2027 2028, The transaction agreements for both the Facility Lease and Equipment Lease contain covenants that are consistent with our Revolving Credit Agreement as disclosed in the 2023 10

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. 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, January 2024, 11 not Dow Corning Environmental Claims Beginning in September 2019, may September 30, 2024 not Environmental Litigation Corning has been designated by federal or state governments under environmental laws, including Superfund, as a potentially responsible party that may September 30, 2024 December 31, 2023

Note 12 - Financial Instruments

Note 12 - Financial Instruments	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	12. The following table summarizes the notional amounts and respective fair values of Corning’s derivative financial instruments on a gross basis (in millions): September 30, 2024 December 31, 2023 Notional amount Fair value asset (1) Fair value liability (1) Notional amount Fair value asset (1) Fair value liability (1) Derivatives designated as hedging instruments (2): Foreign exchange and precious metals lease contracts (3) $ 864 $ 136 $ (46 ) $ 241 $ 287 Derivatives not designated as hedging instruments: Foreign exchange contracts 2,247 64 (23 ) 1,988 20 $ (17 ) Translated earnings contracts (4) 8,660 506 (105 ) 5,042 324 (80 ) Cross currency swap contracts 215 (64 ) Total derivatives $ 11,986 $ 706 $ (238 ) $ 7,271 $ 631 $ (97 ) Current $ 446 $ (102 ) $ 501 $ (66 ) Non-current 260 (136 ) 130 (31 ) Total derivatives $ 706 $ (238 ) $ 631 $ (97 ) ( 1 All of the Company’s derivative contracts are measured at fair value and are classified as Level 2 ( 2 The amounts above do not €850 September 30, 2024 ( 3 As of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 ( 4 The Company has deferred payments associated with its purchased option contracts that are classified as non-derivative liabilities and will be settled by the end of the option contract term. As of September 30, 2024 The following table summarizes the total gross notional values for translated earnings contracts (in millions): September 30, December 31, 2024 2023 Average rate forward contracts: Chinese yuan-denominated $ 697 $ 684 Japanese yen-denominated 334 463 South Korean won-denominated 1,151 1,609 New Taiwan dollar-denominated 377 198 Euro-denominated 1,247 Mexican peso-denominated 104 Option contracts: Japanese yen-denominated 4,565 2,088 Euro-denominated 185 Total notional amount for translated earnings contracts $ 8,660 $ 5,042 The following tables summarize the effect in the consolidated statements of (loss) income relating to Corning’s derivative financial instruments (in millions). The accumulated derivative gain (loss) included in accumulated other comprehensive loss on the consolidated balance sheets as of September 30, 2024 December 31, 2023 Three months ended September 30, Location of gain (loss) (Loss) gain recognized reclassified from Gain (loss) reclassified in other comprehensive accumulated from accumulated income (loss) (OCI) OCI into income OCI into income 2024 2023 effective (ineffective) 2024 2023 Derivative hedging relationships for cash flow and fair value hedges: Foreign exchange contracts and other $ (68 ) $ 28 Cost of sales $ 15 $ 14 Other (loss) income, net (1 ) Total cash flow and fair value hedges $ (68 ) $ 28 $ 15 $ 13 Nine months ended September 30, Location of gain (loss) (Loss) gain recognized reclassified from Gain (loss) reclassified in other comprehensive accumulated from accumulated income (loss) (OCI) OCI into income OCI into income 2024 2023 effective (ineffective) 2024 2023 Derivative hedging relationships for cash flow and fair value hedges: Foreign exchange contracts and other $ (59 ) $ 102 Cost of sales $ 36 $ 32 Other (loss) income, net (1 ) (3 ) Total cash flow and fair value hedges $ (59 ) $ 102 $ 35 $ 29 Gain (loss) recognized in income Three months ended Nine months ended September 30, September 30, Undesignated derivatives 2024 2023 2024 2023 Location of gain (loss) recognized in income Foreign exchange contracts $ 42 $ (5 ) $ 7 $ 23 Other (loss) income, net Translated earnings contracts (157 ) 20 (91 ) 128 Translated earnings contract (loss) gain, net Cross currency swap contracts 10 3 Other (loss) income, net Total undesignated $ (105 ) $ 15 $ (81 ) $ 151 Cross Currency Swap Contracts Since inception of the Company’s Japanese yen-denominated debt, the Japanese yen has weakened and the US dollar value of these liabilities has decreased, generating unrealized foreign exchange gains that have been recognized over time in the consolidated statements of (loss) income. In the second 2024, ¥23 three 2027. September 30, 2024 Net Investment Hedges In May 2023, 2026 2031 €850 September 30, 2024 three nine September 30, 2024 three nine September 30, 2023, Leased Precious Metals Contracts The carrying amount of the leased precious metals pool, which is included within property, plant and equipment, net of accumulated depreciation in the consolidated balance sheets, is $65 million and $90 million as of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023

Note 13 - Shareholders' Equity

Note 13 - Shareholders' Equity	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Equity [Text Block]	13. Equity Common Stock Dividends On October 2, 2024 December 13, 2024 Fixed Rate Cumulative Convertible Preferred Stock, Series A The Company 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. $507 April 2023, 2022 2021. Pursuant to the SRA, with respect to the remaining 80 million common shares: ● 58 million of the common shares SDC holds are subject to a seven 2027. ● 22 million of the common shares SDC holds can be offered to be sold to Corning in specified tranches from time to time in calendar years 2024 2027. may, not September 30, 2024 December 31, 2023, 2 not Share Repurchase Program In 2019, “2019 September 30, 2024 2019 During the three nine September 30, 2024, No 2019 three nine September 30, 2023. Accumulated Other Comprehensive Loss For the three nine September 30, 2024 2023 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): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Beginning balance $ (2,494 ) $ (2,114 ) $ (1,942 ) $ (1,712 ) Gain (loss) on foreign currency translation (1) 551 (195 ) 8 (588 ) Release of cumulative translation losses (2) 62 62 Equity method affiliates (1) 12 4 3 (5 ) Net current-period other comprehensive income (loss), net of tax 625 (191 ) 73 (593 ) Ending balance $ (1,869 ) $ (2,305 ) $ (1,869 ) $ (2,305 ) ( 1 Amounts are after tax. Tax effects are not ( 2 Refer to Note 2

Note 14 - Share-based Compensat

Note 14 - Share-based Compensation	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	14. Total share-based compensation expense was $76 million and $202 million for the three nine September 30, 2024 three nine September 30, 2023 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 nine September 30, 2024 : Weighted Number average of shares grant-date (in thousands) fair value Non-vested shares and share units as of December 31, 2023 13,321 $ 33.89 Granted 1,368 32.87 Vested (5,363 ) 35.88 Forfeited (442 ) 34.54 Non-vested shares and share units as of September 30, 2024 8,884 $ 32.50 Performance-Based Restricted Stock Units The following table summarizes the changes in non-vested performance-based restricted stock units for the nine September 30, 2024 Weighted Number average of shares grant-date (in thousands) fair value Non-vested share units as of December 31, 2023 2,026 $ 38.89 Granted 1,647 32.70 Vested (1,134 ) 41.63 Performance adjustments 1,331 32.81 Forfeited (81 ) 32.98 Non-vested share units as of September 30, 2024 3,789 $ 33.31 Stock Options The following table summarizes information concerning stock options as of September 30, 2024 nine September 30, 2024 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, 2023 7,499 $ 23.82 Exercised (2,519 ) 22.64 Expired (6 ) 20.16 Options outstanding as of September 30, 2024 4,974 24.43 4.42 $ 103,085 Options vested and exercisable as of September 30, 2024 4,974 24.43 4.42 103,085

Note 15 - Reportable Segments

Note 15 - Reportable Segments	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	15. The Company has determined that it has five ● 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. In addition, effective January 1, 2024, not not The constant-currency rates established for our core performance measures are internally derived long-term management estimates, which are closely aligned with our hedging instrument rates. These hedging instruments may not Constant-currency rates used are as follows and are applied to all periods presented and to all foreign exchange exposures during the period, even though we may 100% Currency Japanese yen Korean won Chinese yuan New Taiwan dollar Euro Mexican peso Rate ¥ 107 ₩ 1,175 ¥ 6.7 NT$ 31 € 0.81 MX$ 20 In addition, certain income and expenses are excluded from segment net income (loss) and included in the unallocated amounts in the reconciliation of reportable segment net income (loss) to net (loss) income attributable to Corning Incorporated. 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 The following provides selected segment information as described above: Segment information (in millions): Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Three months ended September 30, 2024 Segment net sales $ 1,246 $ 1,015 $ 548 $ 382 $ 244 $ 298 $ 3,733 Depreciation (1) $ 69 $ 110 $ 39 $ 32 $ 17 $ 41 $ 308 Research, development and engineering expenses (2) $ 71 $ 29 $ 69 $ 26 $ 5 $ 48 $ 248 Income tax provision (3) $ (49 ) $ (75 ) $ (20 ) $ (19 ) $ (4 ) $ (167 ) Segment net income (loss) $ 175 $ 285 $ 72 $ 75 $ 15 $ (12 ) $ 610 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Three months ended September 30, 2023 Segment net sales $ 918 $ 972 $ 563 $ 449 $ 230 $ 327 $ 3,459 Depreciation (1) $ 65 $ 119 $ 37 $ 32 $ 18 $ 37 $ 308 Research, development and engineering expenses (2) $ 60 $ 26 $ 62 $ 26 $ 7 $ 41 $ 222 Income tax provision (3) $ (24 ) $ (64 ) $ (19 ) $ (27 ) $ (4 ) $ (2 ) $ (140 ) Segment net income (loss) $ 91 $ 242 $ 72 $ 99 $ 13 $ (8 ) $ 509 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Nine months ended September 30, 2024 Segment net sales $ 3,289 $ 2,901 $ 1,503 $ 1,268 $ 729 $ 905 $ 10,595 Depreciation (1) $ 201 $ 336 $ 115 $ 96 $ 51 $ 119 $ 918 Research, development and engineering expenses (2) $ 202 $ 83 $ 186 $ 75 $ 17 $ 123 $ 686 Income tax (provision) benefit (3) $ (118 ) $ (196 ) $ (48 ) $ (73 ) $ (12 ) $ 3 $ (444 ) Segment net income (loss) $ 418 $ 744 $ 179 $ 277 $ 45 $ (45 ) $ 1,618 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Nine months ended September 30, 2023 Segment net sales $ 3,109 $ 2,663 $ 1,392 $ 1,337 $ 717 $ 1,090 $ 10,308 Depreciation (1) $ 195 $ 362 $ 111 $ 97 $ 52 $ 105 $ 922 Research, development and engineering expenses (2) $ 176 $ 73 $ 172 $ 73 $ 25 $ 121 $ 640 Income tax provision (3) $ (105 ) $ (161 ) $ (38 ) $ (77 ) $ (9 ) $ (22 ) $ (412 ) Segment net income $ 390 $ 610 $ 144 $ 288 $ 33 $ 34 $ 1,499 ( 1 Depreciation expense for Corning’s reportable segments and Hemlock and Emerging Growth Businesses 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) benefit 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 Nine months ended September 30, September 30, 2024 2023 2024 2023 Net sales of reportable segments $ 3,435 $ 3,132 $ 9,690 $ 9,218 Net sales of Hemlock and Emerging Growth Businesses 298 327 905 1,090 Impact of constant-currency reporting (1) (342 ) (286 ) (978 ) (714 ) Consolidated net sales $ 3,391 $ 3,173 $ 9,617 $ 9,594 ( 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 net (loss) income attributable to Corning Incorporated (in millions): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net income of reportable segments $ 622 $ 517 $ 1,663 $ 1,465 Net (loss) income of Hemlock and Emerging Growth Businesses (12 ) (8 ) (45 ) 34 Unallocated amounts: Impact of constant-currency reporting (258 ) (212 ) (751 ) (535 ) Translated earnings contract (loss) gain, net (157 ) 20 (91 ) 128 Translation (loss) gain on Japanese yen-denominated debt (107 ) 35 28 162 Litigation, regulatory and other legal matters (16 ) (32 ) (11 ) (44 ) Research, development, and engineering expenses (1) (39 ) (40 ) (121 ) (127 ) Amortization of intangibles (31 ) (30 ) (91 ) (92 ) Interest expense, net (63 ) (62 ) (189 ) (179 ) Income tax benefit 164 105 320 234 Severance charges (43 ) (13 ) (46 ) (91 ) Capacity optimization and other charges and credits (2) (91 ) (59 ) (217 ) (184 ) Other corporate items (86 ) (57 ) (253 ) (150 ) Net (loss) income attributable to Corning Incorporated $ (117 ) $ 164 $ 196 $ 621 ( 1 Amount does not ( 2 Amount includes charges associated with impairment losses, asset write-offs, accelerated depreciation, disposal costs and inventory write-downs. Refer to Note 2

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. During the three September 30, 2024 none 16 10b5 1 10b5 1
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 2 - Restructuring, Impai_2

Note 2 - Restructuring, Impairment and Other Charges and Credits (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Restructuring and Related Costs [Table Text Block]	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Severance (1) $ 43 $ 13 $ 46 $ 91 Capacity realignment (1) 16 49 133 92 Other charges and credits (2) 75 10 84 92 Total restructuring, impairment and other charges and credits (3) $ 134 $ 72 $ 263 $ 275

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Telecommunication products $ 1,246 $ 918 $ 3,289 $ 3,109 Display products 707 727 2,043 2,061 Specialty glass products 543 560 1,490 1,384 Environmental substrate and filter products 362 420 1,193 1,260 Life science products 235 221 697 690 Polycrystalline silicon products 194 230 609 765 All other products 104 97 296 325 Total revenue $ 3,391 $ 3,173 $ 9,617 $ 9,594

Note 4 - Income Taxes (Tables)

Note 4 - Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Income Tax Provisions and Rates [Table Text Block]	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Provision for income taxes $ (3 ) $ (35 ) $ (124 ) $ (178 ) Effective tax rate (3.3 %) 16.1 % 33.0 % 20.8 %

Note 5 - (Loss) Earnings Per _2

Note 5 - (Loss) Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net (loss) income attributable to Corning Incorporated $ (117 ) $ 164 $ 196 $ 621 Weighted-average common shares outstanding – basic 854 850 853 848 Effect of dilutive securities: Stock options and other awards 9 15 10 Weighted-average common shares outstanding – diluted 854 859 868 858 Basic (loss) earnings per common share $ (0.14 ) $ 0.19 $ 0.23 $ 0.73 Diluted (loss) earnings per common share $ (0.14 ) $ 0.19 $ 0.23 $ 0.72 Anti-dilutive potential shares excluded from diluted (loss) earnings per common share: Stock options and other awards 18 3 3

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2024 2023 Finished goods $ 1,354 $ 1,242 Work in process 566 551 Raw materials and accessories 457 445 Supplies and packing materials 416 428 Inventories $ 2,793 $ 2,666

Note 7 - Other Liabilities (Tab

Note 7 - Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Other Liabilities [Table Text Block]	September 30, December 31, 2024 2023 Current liabilities: Wages and employee benefits $ 712 $ 609 Income taxes 80 69 Derivative instruments (Note 12) 102 66 Deferred revenue (Note 3) 205 181 Customer deposits (Note 3) 179 148 Short-term operating leases 93 112 Other current liabilities 1,366 1,348 Other accrued liabilities $ 2,737 $ 2,533 Non-current liabilities: Defined benefit pension plan liabilities $ 719 $ 721 Derivative instruments (Note 12) 136 31 Deferred revenue (Note 3) 678 679 Customer deposits (Note 3) 1,009 1,083 Deferred tax liabilities 204 218 Long-term operating leases 840 846 Other non-current liabilities 1,202 1,131 Other liabilities $ 4,788 $ 4,709

Note 9 - Employee Retirement _2

Note 9 - Employee Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Pension benefits Postretirement benefits Three months ended Nine months ended Three months ended Nine months ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 2024 2023 2024 2023 Service cost $ 25 $ 25 $ 73 $ 75 $ 1 $ 2 $ 4 Interest cost 46 45 138 133 $ 4 6 14 17 Expected return on plan assets (48 ) (46 ) (144 ) (138 ) Amortization of actuarial net gain (6 ) (6 ) (18 ) (17 ) Amortization of prior service cost (credit) 1 2 4 5 (1 ) (2 ) (5 ) (4 ) Recognition of actuarial (gain) loss (31 ) 12 (31 ) (16 ) Special termination benefit charge 3 6 5 Total pension and postretirement benefit (income) expense $ (4 ) $ 38 $ 46 $ 64 $ (3 ) $ (1 ) $ (7 ) $ —

Note 12 - Financial Instrumen_2

Note 12 - Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	September 30, 2024 December 31, 2023 Notional amount Fair value asset (1) Fair value liability (1) Notional amount Fair value asset (1) Fair value liability (1) Derivatives designated as hedging instruments (2): Foreign exchange and precious metals lease contracts (3) $ 864 $ 136 $ (46 ) $ 241 $ 287 Derivatives not designated as hedging instruments: Foreign exchange contracts 2,247 64 (23 ) 1,988 20 $ (17 ) Translated earnings contracts (4) 8,660 506 (105 ) 5,042 324 (80 ) Cross currency swap contracts 215 (64 ) Total derivatives $ 11,986 $ 706 $ (238 ) $ 7,271 $ 631 $ (97 ) Current $ 446 $ (102 ) $ 501 $ (66 ) Non-current 260 (136 ) 130 (31 ) Total derivatives $ 706 $ (238 ) $ 631 $ (97 )
Derivatives Not Designated as Hedging Instruments [Table Text Block]	September 30, December 31, 2024 2023 Average rate forward contracts: Chinese yuan-denominated $ 697 $ 684 Japanese yen-denominated 334 463 South Korean won-denominated 1,151 1,609 New Taiwan dollar-denominated 377 198 Euro-denominated 1,247 Mexican peso-denominated 104 Option contracts: Japanese yen-denominated 4,565 2,088 Euro-denominated 185 Total notional amount for translated earnings contracts $ 8,660 $ 5,042
Not Designated as Hedging Instrument [Member]
Notes Tables
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Gain (loss) recognized in income Three months ended Nine months ended September 30, September 30, Undesignated derivatives 2024 2023 2024 2023 Location of gain (loss) recognized in income Foreign exchange contracts $ 42 $ (5 ) $ 7 $ 23 Other (loss) income, net Translated earnings contracts (157 ) 20 (91 ) 128 Translated earnings contract (loss) gain, net Cross currency swap contracts 10 3 Other (loss) income, net Total undesignated $ (105 ) $ 15 $ (81 ) $ 151
Designated as Hedging Instrument [Member]
Notes Tables
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Three months ended September 30, Location of gain (loss) (Loss) gain recognized reclassified from Gain (loss) reclassified in other comprehensive accumulated from accumulated income (loss) (OCI) OCI into income OCI into income 2024 2023 effective (ineffective) 2024 2023 Derivative hedging relationships for cash flow and fair value hedges: Foreign exchange contracts and other $ (68 ) $ 28 Cost of sales $ 15 $ 14 Other (loss) income, net (1 ) Total cash flow and fair value hedges $ (68 ) $ 28 $ 15 $ 13 Nine months ended September 30, Location of gain (loss) (Loss) gain recognized reclassified from Gain (loss) reclassified in other comprehensive accumulated from accumulated income (loss) (OCI) OCI into income OCI into income 2024 2023 effective (ineffective) 2024 2023 Derivative hedging relationships for cash flow and fair value hedges: Foreign exchange contracts and other $ (59 ) $ 102 Cost of sales $ 36 $ 32 Other (loss) income, net (1 ) (3 ) Total cash flow and fair value hedges $ (59 ) $ 102 $ 35 $ 29

Note 13 - Shareholders' Equity

Note 13 - Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Beginning balance $ (2,494 ) $ (2,114 ) $ (1,942 ) $ (1,712 ) Gain (loss) on foreign currency translation (1) 551 (195 ) 8 (588 ) Release of cumulative translation losses (2) 62 62 Equity method affiliates (1) 12 4 3 (5 ) Net current-period other comprehensive income (loss), net of tax 625 (191 ) 73 (593 ) Ending balance $ (1,869 ) $ (2,305 ) $ (1,869 ) $ (2,305 )

Note 14 - Share-based Compens_2

Note 14 - Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2023 13,321 $ 33.89 Granted 1,368 32.87 Vested (5,363 ) 35.88 Forfeited (442 ) 34.54 Non-vested shares and share units as of September 30, 2024 8,884 $ 32.50
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, 2023 2,026 $ 38.89 Granted 1,647 32.70 Vested (1,134 ) 41.63 Performance adjustments 1,331 32.81 Forfeited (81 ) 32.98 Non-vested share units as of September 30, 2024 3,789 $ 33.31
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, 2023 7,499 $ 23.82 Exercised (2,519 ) 22.64 Expired (6 ) 20.16 Options outstanding as of September 30, 2024 4,974 24.43 4.42 $ 103,085 Options vested and exercisable as of September 30, 2024 4,974 24.43 4.42 103,085

Note 15 - Reportable Segments (

Note 15 - Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 Segment net sales $ 1,246 $ 1,015 $ 548 $ 382 $ 244 $ 298 $ 3,733 Depreciation (1) $ 69 $ 110 $ 39 $ 32 $ 17 $ 41 $ 308 Research, development and engineering expenses (2) $ 71 $ 29 $ 69 $ 26 $ 5 $ 48 $ 248 Income tax provision (3) $ (49 ) $ (75 ) $ (20 ) $ (19 ) $ (4 ) $ (167 ) Segment net income (loss) $ 175 $ 285 $ 72 $ 75 $ 15 $ (12 ) $ 610 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Three months ended September 30, 2023 Segment net sales $ 918 $ 972 $ 563 $ 449 $ 230 $ 327 $ 3,459 Depreciation (1) $ 65 $ 119 $ 37 $ 32 $ 18 $ 37 $ 308 Research, development and engineering expenses (2) $ 60 $ 26 $ 62 $ 26 $ 7 $ 41 $ 222 Income tax provision (3) $ (24 ) $ (64 ) $ (19 ) $ (27 ) $ (4 ) $ (2 ) $ (140 ) Segment net income (loss) $ 91 $ 242 $ 72 $ 99 $ 13 $ (8 ) $ 509 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Nine months ended September 30, 2024 Segment net sales $ 3,289 $ 2,901 $ 1,503 $ 1,268 $ 729 $ 905 $ 10,595 Depreciation (1) $ 201 $ 336 $ 115 $ 96 $ 51 $ 119 $ 918 Research, development and engineering expenses (2) $ 202 $ 83 $ 186 $ 75 $ 17 $ 123 $ 686 Income tax (provision) benefit (3) $ (118 ) $ (196 ) $ (48 ) $ (73 ) $ (12 ) $ 3 $ (444 ) Segment net income (loss) $ 418 $ 744 $ 179 $ 277 $ 45 $ (45 ) $ 1,618 Hemlock and Emerging Optical Display Specialty Environmental Life Growth Communications Technologies Materials Technologies Sciences Businesses Total Nine months ended September 30, 2023 Segment net sales $ 3,109 $ 2,663 $ 1,392 $ 1,337 $ 717 $ 1,090 $ 10,308 Depreciation (1) $ 195 $ 362 $ 111 $ 97 $ 52 $ 105 $ 922 Research, development and engineering expenses (2) $ 176 $ 73 $ 172 $ 73 $ 25 $ 121 $ 640 Income tax provision (3) $ (105 ) $ (161 ) $ (38 ) $ (77 ) $ (9 ) $ (22 ) $ (412 ) Segment net income $ 390 $ 610 $ 144 $ 288 $ 33 $ 34 $ 1,499
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net sales of reportable segments $ 3,435 $ 3,132 $ 9,690 $ 9,218 Net sales of Hemlock and Emerging Growth Businesses 298 327 905 1,090 Impact of constant-currency reporting (1) (342 ) (286 ) (978 ) (714 ) Consolidated net sales $ 3,391 $ 3,173 $ 9,617 $ 9,594
Reconciliation of Net Income (Loss) from Segments to Consolidated [Table Text Block]	Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net income of reportable segments $ 622 $ 517 $ 1,663 $ 1,465 Net (loss) income of Hemlock and Emerging Growth Businesses (12 ) (8 ) (45 ) 34 Unallocated amounts: Impact of constant-currency reporting (258 ) (212 ) (751 ) (535 ) Translated earnings contract (loss) gain, net (157 ) 20 (91 ) 128 Translation (loss) gain on Japanese yen-denominated debt (107 ) 35 28 162 Litigation, regulatory and other legal matters (16 ) (32 ) (11 ) (44 ) Research, development, and engineering expenses (1) (39 ) (40 ) (121 ) (127 ) Amortization of intangibles (31 ) (30 ) (91 ) (92 ) Interest expense, net (63 ) (62 ) (189 ) (179 ) Income tax benefit 164 105 320 234 Severance charges (43 ) (13 ) (46 ) (91 ) Capacity optimization and other charges and credits (2) (91 ) (59 ) (217 ) (184 ) Other corporate items (86 ) (57 ) (253 ) (150 ) Net (loss) income attributable to Corning Incorporated $ (117 ) $ 164 $ 196 $ 621

Note 2 - Restructuring, Impai_3

Note 2 - Restructuring, Impairment and Other Charges and Credits (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cost of Sales [Member]
Restructuring Costs and Asset Impairment Charges	$ 47	$ 63	$ 168	$ 196
Liquidation of Display Manufacturing Plant [Member]
Restructuring and Related Cost, Expected Cost	50		50
Liquidation of Optical Communications Plant [Member]
Foreign Currency Transaction Loss, before Tax	$ 62		$ 62

Note 2 - Restructuring, Impai_4

Note 2 - Restructuring, Impairment and Other Charges and Credits - Restructuring, Impairment and Other Charges and Credits Reflected on Consolidated Statement of Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Severance (1)	[1]	$ 43	$ 13	$ 46	$ 91
Capacity realignment (1)	[1]	16	49	133	92
Other charges and credits (2)	[2]	75	10	84	92
Total restructuring, impairment and other charges and credits (3)	[3]	$ 134	$ 72	$ 263	$ 275
[1]For the three and nine months ended September 30, 2024, amounts primarily relate to asset write-offs and severance charges associated with the closure of a display technologies manufacturing plant. Should the entity be substantially liquidated, the Company expects to recognize approximately $50 million of non-cash cumulative foreign currency translation losses in other (loss) income, net in the consolidated statements of (loss) income.[2]For the three and nine months ended September 30, 2024, amounts primarily relate to the recognition of $62 million of non-cash cumulative foreign currency translation losses related to the substantial liquidation of an optical communications manufacturing plant which was recorded in other (loss) income, net in the consolidated statements of (loss) income.[3]Amounts recorded in cost of sales in the consolidated statements of (loss) income were $47 million and $168 million for the three and nine months ended September 30, 2024, respectively, and $63 million and $196 million for the three and nine months ended September 30, 2023, respectively.

Note 3 - Revenue (Details Textu

Note 3 - Revenue (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Contract with Customer, Liability	$ 1,200		$ 1,200		$ 1,200
Increase (Decrease) in Contract with Customer, Liability	36	$ 6	127	$ 88
HSG [Member]
Contract with Customer, Liability	$ 883		$ 883		$ 860
Maximum [Member]
Long Term Supply, Commitment Period (Year)			10 years

Note 3 - Revenue - Disaggregati

Note 3 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales	$ 3,391	$ 3,173	$ 9,617	$ 9,594
Telecommunication Products [Member]
Net sales	1,246	918	3,289	3,109
Display Products [Member]
Net sales	707	727	2,043	2,061
Specialty Glass Products [Member]
Net sales	543	560	1,490	1,384
Environmental Substrate and Filter Products [Member]
Net sales	362	420	1,193	1,260
Life Science Products [Member]
Net sales	235	221	697	690
Polycrystalline Silicon [Member]
Net sales	194	230	609	765
Product and Service, Other [Member]
Net sales	$ 104	$ 97	$ 296	$ 325

Note 4 - Income Taxes (Details

Note 4 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2023
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)
National Tax Service of Korea [Member]
Income Taxes Receivable, Noncurrent	$ 265		$ 265		$ 261

Note 4 - Income Taxes - Provisi

Note 4 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Provision for income taxes (Note 4)	$ (3)	$ (35)	$ (124)	$ (178)
Effective tax rate	(3.30%)	16.10%	33%	20.80%

Note 5 - (Loss) Earnings Per _3

Note 5 - (Loss) Earnings Per Common Share - Reconciliation of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net (loss) income attributable to Corning Incorporated	$ (117)	$ 164	$ 196	$ 621
Weighted-average common shares outstanding – basic (in shares)	854	850	853	848
Effect of dilutive securities:
Stock options and other awards (in shares)		9	15	10
Weighted-average common shares outstanding – diluted (in shares)	854	859	868	858
Basic (Note 5) (in dollars per share)	$ (0.14)	$ 0.19	$ 0.23	$ 0.73
Diluted (Note 5) (in dollars per share)	$ (0.14)	$ 0.19	$ 0.23	$ 0.72
Stock Options And Other Awards [Member]
Effect of dilutive securities:
Stock options and other awards (in shares)	18	3		3

Note 6 - Inventories - Schedule

Note 6 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finished goods	$ 1,354	$ 1,242
Work in process	566	551
Raw materials and accessories	457	445
Supplies and packing materials	416	428
Inventories	$ 2,793	$ 2,666

Note 7 - Other Liabilities - Sc

Note 7 - Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Wages and employee benefits		$ 712	$ 609
Income taxes		80	69
Derivative instruments (Note 12)	[1]	102	66
Deferred revenue (Note 3)		205	181
Customer deposits (Note 3)		179	148
Short-term operating leases		93	112
Other current liabilities		1,366	1,348
Other accrued liabilities		2,737	2,533
Defined benefit pension plan liabilities		719	721
Derivative instruments (Note 12)	[1]	136	31
Deferred revenue (Note 3)		678	679
Customer deposits (Note 3)		1,009	1,083
Deferred tax liabilities		204	218
Long-term operating leases		840	846
Other non-current liabilities		1,202	1,131
Other liabilities		$ 4,788	$ 4,709
[1]All of the Company’s derivative contracts are measured at fair value and are classified as Level 2 within the fair value hierarchy. Derivative assets are presented in Other current assets or Other assets. Derivative liabilities are presented in Other current liabilities or Other liabilities.

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) € in Millions, $ in Millions, ¥ in Billions			3 Months Ended	9 Months Ended
		May 15, 2023 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2024 JPY (¥)	Dec. 31, 2023 USD ($)	May 15, 2023 EUR (€)
Long-Term Debt and Lease Obligation				$ 7,073			$ 7,206
Derivative, Notional Amount	[1]			11,986			7,271
Proceeds from Issuance of Long-Term Debt					$ 918
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
Long-Term Debt				943
Not Designated as Hedging Instrument [Member]
Derivative, Notional Amount				8,660			5,042
Currency Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative, Notional Amount			$ 215	215		¥ 23
Derivative, Term of Contract (Year)			3 years
Fair Value, Inputs, Level 2 [Member]
Long-Term Debt, Fair Value				$ 7,000			$ 7,000
[1]The amounts above do not include €850 million of euro-denominated debt ($903 million equivalent as of June 30, 2024), which is a non-derivative financial instrument designated as a net investment hedge.

Note 9 - Employee Retirement _3

Note 9 - Employee Retirement Plans - Net Periodic Benefit Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pension Plan [Member]
Service cost	$ 25	$ 25	$ 73	$ 75
Interest cost	46	45	138	133
Expected return on plan assets	(48)	(46)	(144)	(138)
Amortization of prior service cost (credit)	1	2	4	5
Recognition of actuarial (gain) loss	(31)	12	(31)	(16)
Special termination benefit charge	3		6	5
Total pension and postretirement benefit (income) expense	(4)	38	46	64
Other Postretirement Benefits Plan [Member]
Service cost		1	2	4
Interest cost	4	6	14	17
Amortization of actuarial net gain	(6)	(6)	(18)	(17)
Amortization of prior service cost (credit)	(1)	(2)	(5)	(4)
Total pension and postretirement benefit (income) expense	$ (3)	$ (1)	$ (7)	$ 0

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual) - USD ($) $ in Millions	Jun. 17, 2024	Mar. 12, 2024	Sep. 30, 2024
Facility Lease [Member]
Estimated Construction Costs		$ 835
Lessee, Finance Lease, Term of Contract (Year)			5 years
Finance Lease, Liability, to be Paid			$ 1,100
Finance Lease, Liability, to be Paid, Year One			24
Finance Lease, Liability, to be Paid, Year Two			92
Finance Lease, Liability, to be Paid, Year Three			88
Finance Lease, Liability, to be Paid, Year Four			85
Finance Lease, Liability, to be Paid, after Year Four			$ 767
Equipment Lease [Member]
Lessee, Finance Lease, Term of Contract (Year)			5 years
Finance Lease, Liability, to be Paid			$ 434
Finance Lease, Liability, to be Paid, Year One			24
Finance Lease, Liability, to be Paid, Year Two			95
Finance Lease, Liability, to be Paid, Year Three			90
Finance Lease, Liability, to be Paid, Year Four			85
Finance Lease, Liability, to be Paid, after Year Four			$ 140
Estimated Purchase and Installation Costs	$ 365

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual) $ in Millions		9 Months Ended
	May 31, 2016	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 01, 2016
Environmental Litigation [Member]
Number of Hazardous Waste Sites		19
Accrual for Environmental Loss Contingencies		$ 81	$ 88
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 12 - Financial Instrumen_3

Note 12 - Financial Instruments (Details Textual) € in Millions, $ in Millions, ¥ in Billions			3 Months Ended			9 Months Ended		12 Months Ended
		May 15, 2023 EUR (€)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) ozt	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) ozt	Sep. 30, 2024 EUR (€)	Jun. 30, 2024 JPY (¥)
Derivative, Notional Amount	[1]		$ 11,986			$ 11,986		$ 7,271
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax			41			41		(54)
Other Accrued Liabilities [Member]
Deferred Payments [Member]			141			141
Other Liabilities [Member]
Deferred Payments [Member]			237			237
Not Designated as Hedging Instrument [Member]
Derivative, Notional Amount			8,660			8,660		5,042
Currency Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative, Notional Amount			215	$ 215		215				¥ 23
Derivative, Term of Contract (Year)				3 years
Derivative Liability, Notional Amount				$ 68
Derivative, Fair Value, Net			64			64
Leased Precious Metal Pools [Member]
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)			(129)			(129)		(239)
Leased Precious Metal Pools [Member] | Property and Equipment, Net [Member]
Derivative Instruments in Hedges, Assets, at Fair Value			65			65		90
Net Investment Hedging [Member]
Non-derivative, Subject to Master Netting Arrangement, before Offset			943			943			€ 850
Notional Amount of Nonderivative Instruments | €		€ 850
Foreign Currency Transaction Loss, before Tax			39			9
Foreign Currency Transaction Gain, before Tax					$ 29		$ 36
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member]
Derivative, Notional Amount			864			$ 864		$ 241
Derivative, Nonmonetary Notional Amount, Mass (Troy Ounce) | ozt						13,762		20,160
Cash Flow Hedging [Member] | Lease Precious Metals [Member] | Designated as Hedging Instrument [Member]
Derivative, Notional Amount			$ 121			$ 121		$ 229
[1]The amounts above do not include €850 million of euro-denominated debt ($903 million equivalent as of June 30, 2024), which is a non-derivative financial instrument designated as a net investment hedge.

Note 12 - Financial Instrumen_4

Note 12 - Financial Instruments - Summary of Notional Amounts and Respective Fair Values of Derivative Financial Instruments (Details) $ in Millions, ¥ in Billions		Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 JPY (¥)	Dec. 31, 2023 USD ($)
Notional amount	[1]	$ 11,986			$ 7,271
Asset derivatives, fair value	[1],[2]	706			631
Liability derivatives, fair value	[1],[2]	(238)			(97)
Current, Asset derivatives, fair value	[2]	446			501
Current, Liability derivatives, fair value	[2]	(102)			(66)
Non-current, Asset derivatives, fair value	[2]	260			130
Non-current, Liability derivatives, fair value	[2]	(136)			(31)
Total asset derivatives	[2]	706			631
Total liability derivatives	[2]	(238)			(97)
Not Designated as Hedging Instrument [Member]
Notional amount		8,660			5,042
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Notional amount	[3]	864			241
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Asset derivatives, fair value	[2],[3]	136			287
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]
Liability derivatives, fair value	[2],[3]	(46)
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Notional amount		2,247			1,988
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Asset derivatives, fair value	[2]	64			20
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]
Liability derivatives, fair value	[2]	(23)			(17)
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member]
Notional amount		8,660			5,042
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Asset derivatives, fair value	[2]	506			324
Translated Earnings Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]
Liability derivatives, fair value	[2]	(105)			$ (80)
Currency Swap [Member] | Not Designated as Hedging Instrument [Member]
Notional amount		215	$ 215	¥ 23
Currency Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member]
Liability derivatives, fair value	[2]	$ (64)
[1]The amounts above do not include €850 million of euro-denominated debt ($903 million equivalent as of June 30, 2024), which is a non-derivative financial instrument designated as a net investment hedge.[2]All of the Company’s derivative contracts are measured at fair value and are classified as Level 2 within the fair value hierarchy. Derivative assets are presented in Other current assets or Other assets. Derivative liabilities are presented in Other current liabilities or Other liabilities.[3]As of June 30, 2024 and December 31, 2023, derivatives designated as hedging instruments include foreign exchange cash flow hedges with total notional amounts of $236 million and $241 million, respectively, and fair value hedges of leased precious metals with total notional amounts of 13,762 troy ounces and 20,160 troy ounces, respectively. Fair value assets include designated derivatives pertaining to precious metals lease contracts in the amounts of $146 million and $229 million as of June 30, 2024 and December 31, 2023, respectively.

Note 12 - Financial Instrumen_5

Note 12 - Financial Instruments - Undesignated Hedges (Details) - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Gross notional value for translated earning contracts	[1]	$ 11,986	$ 7,271
Not Designated as Hedging Instrument [Member]
Gross notional value for translated earning contracts		8,660	5,042
Not Designated as Hedging Instrument [Member] | Average Rate Forward Contracts, Chinese Yuan-Denomination [Member]
Gross notional value for translated earning contracts		697	684
Not Designated as Hedging Instrument [Member] | Average Rate Forward Contracts, Japanese Yen-denominated [Member]
Gross notional value for translated earning contracts		334	463
Not Designated as Hedging Instrument [Member] | Average Rate Forward Contracts, South Korean Won-denominated [Member]
Gross notional value for translated earning contracts		1,151	1,609
Not Designated as Hedging Instrument [Member] | Average Rate Forward Contracts, New Taiwan Dollar-denominated [Member]
Gross notional value for translated earning contracts		377	198
Not Designated as Hedging Instrument [Member] | Average Rate Forward Contracts, Euro-denominated [Member]
Gross notional value for translated earning contracts		1,247
Not Designated as Hedging Instrument [Member] | Average Rate Forward Contracts, Mexican Peso Denominated [Member]
Gross notional value for translated earning contracts		104
Not Designated as Hedging Instrument [Member] | Options Contracts, Japanese Yen-denominated [Member]
Gross notional value for translated earning contracts	[2]	4,565	2,088
Not Designated as Hedging Instrument [Member] | Option Contracts, Euro Denominated [Member]
Gross notional value for translated earning contracts		$ 185
[1]The amounts above do not include €850 million of euro-denominated debt ($903 million equivalent as of June 30, 2024), which is a non-derivative financial instrument designated as a net investment hedge.[2]Japanese yen-denominated option contracts primarily relate to purchased put options. These option premiums, which represent the fair market value of the purchased derivative at inception, are settled by the end of the contract term. Refer to Note 7 (Other Liabilities) for additional information.

Note 12 - Financial Instrumen_6

Note 12 - Financial Instruments - Summary of Effect of Designated Derivative Financial Instruments on Consolidated Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cost of sales	$ 2,254	$ 2,169	$ 6,538	$ 6,574
Other Nonoperating Income (Expense)	(166)	33	(59)	128
Gain (loss) recognized in other comprehensive income	(68)	28	(59)	102
Net income of reportable segments	(117)	164	196	621
Reclassification out of Accumulated Other Comprehensive Income [Member]
Cost of sales	15	14	36	32
Other Nonoperating Income (Expense)		(1)	(1)	(3)
Net income of reportable segments	15	13	35	29
Foreign Exchange Contract [Member]
Cost of sales	$ (68)	$ 28	$ (59)	$ 102

Note 12 - Financial Instrumen_7

Note 12 - Financial Instruments - 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Gain (loss) recognized in income	$ (105)	$ 15	$ (81)	$ 151
Foreign Exchange Contract [Member]
Gain (loss) recognized in income	42	(5)	7	23
Translated Earnings Contracts [Member]
Gain (loss) recognized in income	(157)	20	(91)	128
Currency Swap [Member]
Gain (loss) recognized in income	$ 10		$ 3

Note 13 - Shareholders' Equit_2

Note 13 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Oct. 02, 2024

Apr. 08, 2023

Apr. 08, 2022

Apr. 08, 2021

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Jan. 16, 2021

Dec. 31, 2020

Dec. 31, 2019

Payments for Repurchase of Common Stock

$ 135,000

Share Repurchase Agreement [Member] | Samsung [Member]

Stock Repurchased and Retired During Period, Shares (in shares)

35,000,000

Payments for Repurchase of Common Stock

$ 1,500,000

Number of Shares Held by Counter Party subject to Seven Year Lock-up Period (in shares)

58,000,000

Share Repurchase Program, Remaining Authorized, Number of Shares (in shares)

22,000,000

Share Repurchase Agreement, Make-whole payment, Cap, Percentage

5%

Liabilities for Freestanding Written Put Option

$ 0

0

$ 0

The 2018 and 2019 Repurchase Programs [Member] | Samsung [Member]

Payments for Repurchase of Common Stock

$ 507,000

$ 507,000

$ 507,000

The 2019 Repurchase Program [Member]

Payments for Repurchase of Common Stock

30,000

135,400

Stock Repurchase Program, Authorized Amount

$ 5,000,000

Share Repurchase Program, Remaining Authorized, Amount

$ 3,200,000

$ 3,200,000

Stock Repurchased During Period, Shares (in shares)

800,000

0

3,800,000

0

Series A Convertible Preferred Stock [Member]

Preferred Stock, Shares Outstanding (in shares)

2,300

Preferred Stock, Convertible, Shares Issuable (in shares)

115,000,000

Converted from Preferred Stock [Member]

Common Stock, Shares, Outstanding (in shares)

80,000,000

O2024Q3Dividends [Member]

Dividends Payable, Amount Per Share (in dollars per share)

$ 0.28

Dividends Payable, Date Declared

Oct. 02, 2024

Dividends Payable, Date to be Paid

Dec. 13, 2024

Note 13 - Shareholders' Equity-

Note 13 - Shareholders' Equity- Summary of Changes in Foreign Currency Translation Adjustment Component of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Balance		$ 10,927	$ 11,710	$ 11,868	$ 12,275
Other comprehensive income (loss), net of tax		584	(203)	40	(572)
Balance		11,467	11,744	11,467	11,744
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance		(2,494)	(2,114)	(1,942)	(1,712)
Gain (loss) on foreign currency translation (1)	[1]	551	(195)	8	(588)
Release of cumulative translation losses (2)	[2]	62		62
Equity method affiliates (1)	[1]	12	4	3	(5)
Other comprehensive income (loss), net of tax		625	(191)	73	(593)
Balance		$ (1,869)	$ (2,305)	$ (1,869)	$ (2,305)
[1]Amounts are after tax. Tax effects are not significant.[2]Refer to Note 2 (Restructuring, Impairment and Other Charges and Credits) for additional information.

Note 14 - Share-based Compens_3

Note 14 - Share-based Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Expense	$ 76	$ 57	$ 202	$ 168

Note 14 - Share-based Compens_4

Note 14 - Share-based Compensation - Summary of Restricted Stock and Restricted Stock Units (Details) - Restricted Stock and Restricted Stock Units [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Beginning Non-vested shares and share units, number of shares (in shares) | shares	13,321
Beginning Non-vested shares and share units, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 33.89
Granted, number of shares (in shares) | shares	1,368
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 32.87
Vested, number of shares (in shares) | shares	(5,363)
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 35.88
Forfeited, number of shares (in shares) | shares	(442)
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 34.54
Ending Non-vested shares and share units, number of shares (in shares) | shares	8,884
Ending Non-vested shares and share units, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 32.5

Note 14 - Share-based Compens_5

Note 14 - Share-based Compensation - Summary of Performance-based Restricted Stock Units (Details) - Performance Shares [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Beginning Non-vested shares and share units, number of shares (in shares) | shares	2,026
Beginning Non-vested shares and share units, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 38.89
Granted, number of shares (in shares) | shares	1,647
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 32.7
Vested, number of shares (in shares) | shares	(1,134)
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 41.63
Performance adjustments (in shares) | shares	1,331
Performance adjustments (in dollars per share) | $ / shares	$ 32.81
Forfeited, number of shares (in shares) | shares	(81)
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 32.98
Ending Non-vested shares and share units, number of shares (in shares) | shares	3,789
Ending Non-vested shares and share units, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 33.31

Note 14 - Share-based Compens_6

Note 14 - Share-based Compensation - Summary of Stock Options Outstanding (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Beginning Options Outstanding, number of shares (in shares) | shares	7,499
Beginning Options Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 23.82
Exercised, number of shares (in shares) | shares	(2,519)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 22.64
Expired, number of shares (in shares) | shares	(6)
Expired, weighted average exercise price (in dollars per share) | $ / shares	$ 20.16
Ending Options Outstanding, number of shares (in shares) | shares	4,974
Ending Options Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 24.43
Options Outstanding, weighted average remaining contractual term (Year)	4 years 5 months 1 day
Options Outstanding, aggregate intrinsic value | $	$ 103,085
Options vested and exercisable, number of shares (in shares) | shares	4,974
Options vested and exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 24.43
Options vested and exercisable, weighted average remaining contractual term (Year)	4 years 5 months 1 day
Options vested and exercisable, aggregate intrinsic value | $	$ 103,085

Note 15 - Reportable Segments_2

Note 15 - Reportable Segments (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Number of Reportable Segments			5
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%
Japan, Yen
Foreign Currency Exchange Rate, Translation	107	107	107	107
Korea (South), Won
Foreign Currency Exchange Rate, Translation	1,175	1,175	1,175	1,175
China, Yuan Renminbi
Foreign Currency Exchange Rate, Translation	6.7	6.7	6.7	6.7
Taiwan, New Dollars
Foreign Currency Exchange Rate, Translation	31	31	31	31
Euro Member Countries, Euro
Foreign Currency Exchange Rate, Translation	0.81	0.81	0.81	0.81
Mexico, Pesos
Foreign Currency Exchange Rate, Translation	20	20	20	20

Note 15 - Reportable Segments -

Note 15 - Reportable Segments - Schedule of Reportable Segments (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Depreciation (1)				$ 924	$ 932
Research, development and engineering expenses (2)		$ 294	$ 270	814	787
Income tax provision (3)		3	35	124	178
Net (loss) income attributable to Corning Incorporated		(117)	164	196	621
Operating Segments [Member]
Net sales of reportable segments		3,733	3,459	10,595	10,308
Depreciation (1)	[1]	308	308	918	922
Research, development and engineering expenses (2)	[2]	248	222	686	640
Income tax provision (3)	[3]	(167)	(140)	(444)	(412)
Net (loss) income attributable to Corning Incorporated		610	509	1,618	1,499
Optical Communications [Member] | Operating Segments [Member]
Net sales of reportable segments		1,246	918	3,289	3,109
Depreciation (1)	[1]	69	65	201	195
Research, development and engineering expenses (2)	[2]	71	60	202	176
Income tax provision (3)	[3]	(49)	(24)	(118)	(105)
Net (loss) income attributable to Corning Incorporated		175	91	418	390
Display Technologies [Member] | Operating Segments [Member]
Net sales of reportable segments		1,015	972	2,901	2,663
Depreciation (1)	[1]	110	119	336	362
Research, development and engineering expenses (2)	[2]	29	26	83	73
Income tax provision (3)	[3]	(75)	(64)	(196)	(161)
Net (loss) income attributable to Corning Incorporated		285	242	744	610
Specialty Materials [Member] | Operating Segments [Member]
Net sales of reportable segments		548	563	1,503	1,392
Depreciation (1)	[1]	39	37	115	111
Research, development and engineering expenses (2)	[2]	69	62	186	172
Income tax provision (3)	[3]	(20)	(19)	(48)	(38)
Net (loss) income attributable to Corning Incorporated		72	72	179	144
Environmental Technologies [Member] | Operating Segments [Member]
Net sales of reportable segments		382	449	1,268	1,337
Depreciation (1)	[1]	32	32	96	97
Research, development and engineering expenses (2)	[2]	26	26	75	73
Income tax provision (3)	[3]	(19)	(27)	(73)	(77)
Net (loss) income attributable to Corning Incorporated		75	99	277	288
Life Science Products [Member] | Operating Segments [Member]
Net sales of reportable segments		244	230	729	717
Depreciation (1)	[1]	17	18	51	52
Research, development and engineering expenses (2)	[2]	5	7	17	25
Income tax provision (3)	[3]	(4)	(4)	(12)	(9)
Net (loss) income attributable to Corning Incorporated		15	13	45	33
Hemlock and Emerging Growth Businesses [Member] | Operating Segments [Member]
Net sales of reportable segments		298	327	905	1,090
Depreciation (1)	[1]	41	37	119	105
Research, development and engineering expenses (2)	[2]	48	41	123	121
Income tax provision (3)	[3]		(2)	3	(22)
Net (loss) income attributable to Corning Incorporated		$ (12)	$ (8)	$ (45)	$ 34
[1]Depreciation expense for Corning’s reportable segments and Hemlock and Emerging Growth Businesses 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]Income tax (provision) benefit reflects a tax rate of 21%.

Note 15 - Reportable Segments_3

Note 15 - Reportable Segments - Reconciliation of Reportable Segments and All Other Net Sales to Consolidated Net Sales (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Consolidated net sales		$ 3,391	$ 3,173	$ 9,617	$ 9,594
Operating Segments [Member]
Net sales of reportable segments		3,733	3,459	10,595	10,308
Impact of constant-currency reporting (1)	[1]	(342)	(286)	(978)	(714)
Operating Segments [Member] | Reportable Segments [Member]
Net sales of reportable segments		3,435	3,132	9,690	9,218
Operating Segments [Member] | Hemlock and Emerging Growth Businesses [Member]
Net sales of reportable segments		$ 298	$ 327	$ 905	$ 1,090
[1]This amount primarily represents the impact of foreign currency adjustments in the Display Technologies segment.

Note 15 - Reportable Segments_4

Note 15 - Reportable Segments - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income of reportable segments		$ (117)	$ 164	$ 196	$ 621
Translated earnings contract (loss) gain, net (Note 12)		(157)	20	(91)	128
Research, development, and engineering expenses (1)		(294)	(270)	(814)	(787)
Amortization of intangibles		(31)	(30)	(91)	(92)
Interest expense, net		(83)	(82)	(250)	(239)
Provision for income taxes (Note 4)		(3)	(35)	(124)	(178)
Severance charges	[1]	(43)	(13)	(46)	(91)
Other corporate items		166	(33)	59	(128)
Operating Segments [Member]
Net income of reportable segments		610	509	1,618	1,499
Impact of constant-currency reporting (1)	[2]	(342)	(286)	(978)	(714)
Research, development, and engineering expenses (1)	[3]	(248)	(222)	(686)	(640)
Provision for income taxes (Note 4)	[4]	167	140	444	412
Operating Segments [Member] | Reportable Segments [Member]
Net income of reportable segments		622	517	1,663	1,465
Operating Segments [Member] | Nonreportable Segments [Member]
Net income of reportable segments		(12)	(8)	(45)	34
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]
Net income of reportable segments		(117)	164	196	621
Impact of constant-currency reporting (1)		(258)	(212)	(751)	(535)
Translated earnings contract (loss) gain, net (Note 12)		(157)	20	(91)	128
Translation (loss) gain on Japanese yen-denominated debt		(107)	35	28	162
Litigation, regulatory and other legal matters		(16)	(32)	(11)	(44)
Research, development, and engineering expenses (1)	[5]	(39)	(40)	(121)	(127)
Amortization of intangibles		(31)	(30)	(91)	(92)
Interest expense, net		(63)	(62)	(189)	(179)
Provision for income taxes (Note 4)		164	105	320	234
Severance charges		(43)	(13)	(46)	(91)
Capacity optimization and other charges and credits (2)	[6]	(91)	(59)	(217)	(184)
Other corporate items		$ (86)	$ (57)	$ (253)	$ (150)
[1]For the three and nine months ended September 30, 2024, amounts primarily relate to asset write-offs and severance charges associated with the closure of a display technologies manufacturing plant. Should the entity be substantially liquidated, the Company expects to recognize approximately $50 million of non-cash cumulative foreign currency translation losses in other (loss) income, net in the consolidated statements of (loss) income.[2]This amount primarily represents the impact of foreign currency adjustments in the Display Technologies segment.[3]Research, development and engineering expenses include direct project spending that is identifiable to a segment.[4]Income tax (provision) benefit reflects a tax rate of 21%.[5]Amount does not include research, development and engineering expense related to severance charges.[6]Amount includes charges associated with impairment losses, asset write-offs, accelerated depreciation, disposal costs and inventory write-downs. Refer to Note 2 (Restructuring, Impairment and Other Charges and Credits) for additional information.