CORNING INC /NY
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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6. Property, Plant and Equipment, Net of Accumulated Depreciation
- Property, Plant and Equipment, Net of Accumulated Depreciation
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Land | $383 | $375 |
| Buildings | 6,256 | 5,650 |
| Equipment (1) | 21,701 | 20,007 |
| Construction in progress | 1,714 | 1,819 |
| Subtotal | 30,054 | 27,851 |
| Accumulated depreciation | (15,229) | (14,492) |
| Property, plant and equipment, net of accumulated depreciation (2) | $14,825 | $13,359 |
(1)Manufacturing equipment includes certain components of production equipment that are constructed of precious metals. As of December 31, 2025 and 2024, the carrying value of precious metals was $2.8 billion and significantly lower than the fair market value. Depletion expense for precious metals for the years ended December 31, 2025, 2024 and 2023 was $31 million, $29 million and $35 million, respectively.
(2)Approximately $36 million, $31 million and $40 million of interest costs were capitalized as part of property, plant and equipment during the years ended December 31, 2025, 2024 and 2023, respectively.
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