CORNING INC /NY

4. Revenue

Disaggregated Revenue

The following table shows revenue by major product category, similar to the Company’s reportable segment disclosure. Within each product category, contract terms, conditions and economic factors affecting the nature, amount, timing and uncertainty around revenue recognition and cash flows are substantially similar. The commercial markets and selling channels are also similar. Except for an insignificant number of telecommunications products, product category revenues are recognized at the point in time when control transfers to the customer.

The following table presents revenues by product category (in millions):

Customer Deposits

As of December 31, 2025 and 2024, Corning had customer deposits of approximately $1.5 billion and $1.1 billion, respectively. Most of these customer deposits were non-refundable and allowed customers to secure rights to products produced by Corning under long-term supply agreements, generally over a period of up to 10 years. As products are delivered to customers, Corning will recognize revenue and reduce the amount of the customer deposit liability.

For the years ended December 31, 2025, 2024 and 2023, customer deposits recognized were $142 million, $195 million and $103 million, respectively. For the year ended December 31, 2025, the Company received $490 million relating to new customer contracts. The amounts received in the years ended December 31, 2024 and 2023 werenot material.

Refer to Note 9 (Other Assets and Other Liabilities) for additional information.

Deferred Revenue

As of December 31, 2025 and 2024, Corning had deferred revenue of approximately $775 million and $833 million, respectively. Deferred revenue was primarily related to the performance obligations of non-refundable consideration previously received by HSG from its customers under long term supply agreements.

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 year ended December 31, 2025, the Company received $119 million relating to new customer contracts and recognized $177 million of deferred revenue. The amounts recognized or received during the years ended December 31, 2024 and 2023 werenot material.

Refer to Note 9 (Other Assets and Other Liabilities) for additional information.