CORNING INC NY

For the period ended Jun 30, 2024. Filed Aug 2, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 2, 2024

GLW$115.95+9.3%Stored close · as of Nov 9, 2026

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Contents

PART I – FINANCIAL INFORMATION Item 1. Financial Statements Consolidated Statements of Income

(Unaudited; in millions, except per share amounts)
Consolidated Statements of Income	Corning Incorporated and Subsidiary Companies

Three months ended · Six months ended
	June 30,		June 30,
	2024	2023	2024	2023
Net sales	$3,251	$3,243	$6,226	$6,421
Cost of sales	2,302	2,230	4,284	4,405
Gross margin	949	1,013	1,942	2,016
Operating expenses:
Selling, general and administrative expenses	471	440	922	861
Research, development and engineering expenses	262	263	520	517
Amortization of purchased intangibles	30	31	60	62
Operating income	186	279	440	576
Interest income	10	8	22	15
Interest expense	(84)	(81)	(167)	(157)
Translated earnings contract gain, net (Note 12)	27	116	66	108
Other income, net	33	87	107	95
Income before income taxes	172	409	468	637
Provision for income taxes (Note 4)	(50)	(106)	(121)	(143)
Net income	122	303	347	494
Net income attributable to non-controlling interest	(18)	(22)	(34)	(37)
Net income attributable to Corning Incorporated	$104	$281	$313	$457
Earnings per common share available to common shareholders:
Basic (Note 5)	$0.12	$0.33	$0.37	$0.54
Diluted (Note 5)	$0.12	$0.33	$0.36	$0.53

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