CORNING INC NY
For the period ended Sep 30, 2024. Filed Nov 1, 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.
Sep 30, 2024 · Filed Nov 1, 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 |
|---|---|
| (Unaudited; in millions, except share and per share amounts) | |
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| 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 |
| Liabilities and Equity | ||
| 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 |
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