CORNING INC NY
For the period ended Dec 31, 2023. Filed Feb 12, 2024.
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FY2023 · Filed Feb 12, 2024
GLW$115.95+9.3%Stored close · as of Nov 9, 2026
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Consolidated Balance Sheets
| Consolidated Balance Sheets | Corning Incorporated and Subsidiary Companies |
|---|
| December 31, | ||
|---|---|---|
| (in millions, except share and per share amounts) | 2023 | 2022 |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $1,779 | $1,671 |
| Trade accounts receivable, net of doubtful accounts - $30 and $40 | 1,572 | 1,721 |
| Inventories (Note 4) | 2,666 | 2,904 |
| Other current assets (Notes 9 and 13) | 1,195 | 1,157 |
| Total current assets | 7,212 | 7,453 |
| Property, plant and equipment, net of accumulated depreciation - $14,553 and $14,147 (Note 7) | 14,630 | 15,371 |
| Goodwill (Note 8) | 2,380 | 2,394 |
| Other intangible assets, net (Note 8) | 905 | 1,029 |
| Deferred income taxes (Note 6) | 1,153 | 1,073 |
| Other assets (Notes 9 and 13) | 2,220 | 2,179 |
| Total Assets | $28,500 | $29,499 |
| Liabilities and Equity | ||
| Current liabilities: | ||
| Current portion of long-term debt and short-term borrowings (Note 10) | $320 | $224 |
| Accounts payable | 1,466 | 1,804 |
| Other accrued liabilities (Notes 9 and 12) | 2,533 | 3,147 |
| Total current liabilities | 4,319 | 5,175 |
| Long-term debt (Note 10) | 7,206 | 6,687 |
| Postretirement benefits other than pensions (Note 11) | 398 | 407 |
| Other liabilities (Notes 9 and 12) | 4,709 | 4,955 |
| Total liabilities | 16,632 | 17,224 |
| Commitments and contingencies (Note 12) | ||
| Shareholders’ equity (Note 14): | ||
| Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1.8 billion and 1.8 billion | 916 | 910 |
| Additional paid-in capital – common stock | 16,929 | 16,682 |
| Retained earnings | 16,391 | 16,778 |
| Treasury stock, at cost; Shares held: 980 million and 977 million | (20,637) | (20,532) |
| Accumulated other comprehensive loss | (2,048) | (1,830) |
| Total Corning Incorporated shareholders’ equity | 11,551 | 12,008 |
| Non-controlling interest | 317 | 267 |
| Total equity | 11,868 | 12,275 |
| Total Liabilities and Equity | $28,500 | $29,499 |
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