CORNING INC NY
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
GLW$106.13+2.6%Stored close · as of Nov 6, 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) | 2024 | 2023 |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $1,768 | $1,779 |
| Trade accounts receivable, net of doubtful accounts - $33 and $30 | 2,053 | 1,572 |
| Inventories (Note 4) | 2,724 | 2,666 |
| Other current assets (Notes 9 and 13) | 1,447 | 1,195 |
| Total current assets | 7,992 | 7,212 |
| Property, plant and equipment, net of accumulated depreciation - $14,492 and $14,553 (Note 7) | 13,359 | 14,630 |
| Goodwill (Note 8) | 2,363 | 2,380 |
| Other intangible assets, net (Note 8) | 752 | 905 |
| Deferred income taxes (Note 6) | 1,130 | 1,153 |
| Other assets (Notes 9 and 13) | 2,139 | 2,220 |
| Total Assets | $27,735 | $28,500 |
| Liabilities and Equity | ||
| Current liabilities: | ||
| Current portion of long-term debt and short-term borrowings (Note 10) | $326 | $320 |
| Accounts payable | 1,472 | 1,466 |
| Other accrued liabilities (Notes 9 and 12) | 3,121 | 2,533 |
| Total current liabilities | 4,919 | 4,319 |
| Long-term debt (Note 10) | 6,885 | 7,206 |
| Postretirement benefits other than pensions (Note 11) | 336 | 398 |
| Other liabilities (Notes 9 and 12) | 4,525 | 4,709 |
| Total liabilities | 16,665 | 16,632 |
| 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 | 921 | 916 |
| Additional paid-in capital – common stock | 17,264 | 16,929 |
| Retained earnings | 15,926 | 16,391 |
| Treasury stock, at cost; Shares held: 987 million and 980 million | (20,882) | (20,637) |
| Accumulated other comprehensive loss | (2,543) | (2,048) |
| Total Corning Incorporated shareholders’ equity | 10,686 | 11,551 |
| Non-controlling interest | 384 | 317 |
| Total equity | 11,070 | 11,868 |
| Total Liabilities and Equity | $27,735 | $28,500 |
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