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$112.13-3.3%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| Consolidated Statements of Cash Flows | Corning Incorporated and Subsidiary Companies |
|---|---|
| (Unaudited; in millions) | |
| Nine months ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net income | $252 | $676 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 924 | 932 |
| Amortization of purchased intangibles | 91 | 92 |
| Loss on disposal of assets, net | 135 | 72 |
| Share-based compensation expense | 202 | 168 |
| Translation gain on Japanese yen-denominated debt | (28) | (162) |
| Deferred tax (benefit) provision | (51) | 37 |
| Translated earnings contract loss (gain), net | 91 | (128) |
| Release of cumulative translation losses | 62 | |
| Tax deposit refund | 99 | |
| Changes in assets and liabilities: | ||
| Trade accounts receivable | (493) | (137) |
| Inventories | (134) | 131 |
| Other current assets | (138) | (58) |
| Accounts payable and other current liabilities | 266 | (264) |
| Customer deposits and government incentives | 48 | (17) |
| Deferred income | 23 | (11) |
| Other, net | 66 | (138) |
| Net cash provided by operating activities | 1,316 | 1,292 |
| Cash Flows from Investing Activities: | ||
| Capital expenditures | (711) | (1,111) |
| Proceeds from sale of equipment to related party | 67 | |
| Realized gains on translated earnings contracts and other | 239 | 270 |
| Other, net | (65) | 4 |
| Net cash used in investing activities | (537) | (770) |
| Cash Flows from Financing Activities: | ||
| Repayments of debt | (254) | (180) |
| Proceeds from issuance of debt | 153 | 80 |
| Proceeds from issuance of euro bonds | 918 | |
| Proceeds from other financing arrangements | 54 | |
| Repayment of other financing arrangements | (54) | |
| Proceeds from cross currency swap | 68 | |
| Payment for redemption of preferred stock | (507) | |
| Payments of employee withholding tax on stock awards | (76) | (103) |
| Proceeds from exercise of stock options | 57 | 39 |
| Purchases of common stock for treasury | (135) | |
| Dividends paid | (737) | (741) |
| Other, net | (20) | (26) |
| Net cash used in financing activities | (944) | (520) |
| Effect of exchange rates on cash | (1) | (34) |
| Net decrease in cash and cash equivalents | (166) | (32) |
| Cash and cash equivalents at beginning of period | 1,779 | 1,671 |
| Cash and cash equivalents at end of period | $1,613 | $1,639 |
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