CORNING INC NY
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
GLW$112.13-3.3%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income Consolidated Statements of Comprehensive Income
| Consolidated Statements of Income | Corning Incorporated and Subsidiary Companies |
|---|
| Year ended December 31, | |||
|---|---|---|---|
| (in millions, except per share amounts) | 2024 | 2023 | 2022 |
| Net sales | $13,118 | $12,588 | $14,189 |
| Cost of sales | 8,842 | 8,657 | 9,683 |
| Gross margin | 4,276 | 3,931 | 4,506 |
| Operating expenses: | |||
| Selling, general and administrative expenses | 1,931 | 1,843 | 1,898 |
| Research, development and engineering expenses | 1,089 | 1,076 | 1,047 |
| Amortization of purchased intangibles | 121 | 122 | 123 |
| Operating income | 1,135 | 890 | 1,438 |
| Interest income | 47 | 38 | 15 |
| Interest expense | (329) | (329) | (292) |
| Translated earnings contract gain, net (Note 13) | 83 | 161 | 351 |
| Other (expense) income, net | (123) | 56 | 285 |
| Income before income taxes | 813 | 816 | 1,797 |
| Provision for income taxes (Note 6) | (221) | (168) | (411) |
| Net income | 592 | 648 | 1,386 |
| Net income attributable to non-controlling interest | (86) | (67) | (70) |
| Net income attributable to Corning Incorporated | $506 | $581 | $1,316 |
| Earnings per common share available to common shareholders: | |||
| Basic (Note 15) | $0.59 | $0.69 | $1.56 |
| Diluted (Note 15) | $0.58 | $0.68 | $1.54 |
| Consolidated Statements of Comprehensive Income | Corning Incorporated and Subsidiary Companies |
|---|
| Year ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Net income | $592 | $648 | $1,386 |
| Foreign currency translation adjustments and other (Note 14) | (588) | (230) | (779) |
| Unamortized gains (losses) and prior service credits (costs) for postretirement benefit plans | 184 | (24) | 154 |
| Realized and unrealized (losses) gains on derivatives | (91) | 36 | (30) |
| Other comprehensive loss, net of tax | (495) | (218) | (655) |
| Comprehensive income | 97 | 430 | 731 |
| Comprehensive income attributable to non-controlling interest | (86) | (67) | (70) |
| Comprehensive income attributable to Corning Incorporated | $11 | $363 | $661 |
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