Corning Incorporated (GLW) financial statements (2021 and earlier)

Company profile

Business Address ONE RIVERFRONT PLAZA
CORNING, NY 14831
State of Incorp. NY
Fiscal Year End December 31
SIC 3357 - Drawing and Insulating of Nonferrous Wire (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 2,3554,3175,2914,6006,0685,235
Cash and cash equivalents 2,3554,3175,2914,5005,3094,704
Short-term investments    100759531
Receivables1,8361,9401,8071,4811,3721,5011,253
Inventory, net of allowances, customer advances and progress billings2,3202,0371,7121,4711,3851,3221,270
Inventory2,3202,0371,7121,4711,3851,3221,270
Derivative instruments and hedges, assets     687 
Other current assets8737029918059121,099855
Other undisclosed current assets2,434    (439)278
Total current assets:7,4637,0348,8279,0488,26910,2388,891
Noncurrent Assets
Property, plant and equipment15,33714,89514,01712,54612,64812,7669,801
Long-term investments and receivables334163403651,9751,8015,537
Long-term investments334163403651,9751,8015,537
Intangible assets, net (including goodwill)3,1203,2282,5632,3732,0861,6471,542
Goodwill1,9351,9361,6941,5771,3801,1501,002
Intangible assets, net (excluding goodwill)1,1851,292869796706497540
Derivative instruments and hedges    473847 
Deferred income tax assets1,157✕✕✕✕✕✕
Business combination, contingent consideration, asset    246445✕
Other noncurrent assets1,4871,0219341,2711,5131,722473
Defined benefit plan, assets for plan benefits✕✕✕355047 
Other undisclosed noncurrent assets 1,3118132,2611,2875502,234
Total noncurrent assets:21,43520,47118,66718,85120,27819,82519,587
TOTAL ASSETS:28,89827,50527,49427,89928,54730,06328,478
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,5103,3072,8302,4952,2422,9562,309
Accounts payable1,5871,4561,4391,079934997771
Accrued liabilities1,9231,8511,3911,4161,3081,291954
Employee-related liabilities     562445
Taxes payable     106139
Debt1143792565723621
Liability for uncertainty in income taxes     85
Deferred tax liabilities✕    51
Other undisclosed current liabilities     (681)(590)
Total current liabilities:3,5213,3113,2092,7512,8142,3241,746
Noncurrent Liabilities
Long-term debt and lease obligation, including:7,7295,9944,7493,6463,9103,2273,272
Finance lease, liability271✕✕✕✕✕✕
Operating lease, liability450✕✕✕✕✕✕
Other undisclosed long-term debt and lease obligation7,0085,9944,7493,6463,9103,2273,272
Liabilities, other than long-term debt4,6514,3143,7662,8052,2424,3392,262
Pension and other postretirement defined benefit plans, liabilities✕✕✕✕✕✕766
Accounts payable and accrued liabilities     1,365 
Deferred tax liabilities, net✕    37613
Liability, pension and other postretirement and postemployment benefits671662749  552✕
Other liabilities3,9803,6523,0172,8052,2422,0461,483
Other undisclosed noncurrent liabilities   737718(1,479)(13)
Total noncurrent liabilities:12,38010,3088,5157,1886,8706,0875,521
Total liabilities:15,90113,61911,7249,9399,6848,4117,267
Stockholders' equity
Stockholders' equity attributable to parent12,90713,79215,69817,89318,78821,57921,162
Preferred stock2,3002,3002,3002,3002,3002,300 
Common stock859857854846840836831
Treasury stock, value(19,812)(18,870)(16,633)(14,152)(9,725)(6,727)(4,099)
Additional paid in capital14,32314,21214,08913,69513,35213,45613,066
Accumulated other comprehensive income (loss)(1,171)(1,010)(842)(1,676)(1,811)(1,307)44
Retained earnings16,40816,30315,93016,88013,83213,02111,320
Stockholders' equity attributable to noncontrolling interest90947267757349
Total stockholders' equity:12,99713,88615,77017,96018,86321,65221,211
TOTAL LIABILITIES AND EQUITY:28,89827,50527,49427,89928,54730,06328,478

Income statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues11,50311,29010,1169,3909,1119,7157,819
Revenue, net✕✕10,1169,3909,1119,7157,819
Cost of revenue(7,468)(6,829)(6,084)(5,644)(5,458)(5,663)(4,495)
Gross profit:4,0354,4614,0323,7463,6534,0523,324
Operating expenses(1,698)(1,893)(1,542)(1,613)(1,577)(2,016)(1,837)
Other undisclosed operating loss(1,031)(993)(860)(742)(754)(105)(116)
Operating income:1,3061,5751,6301,3911,3221,9311,371
Nonoperating income (expense)(134)(271)(58)(31)(102)1,063675
Investment income, nonoperating21384532211008
Foreign currency transaction gain (loss), before tax (93) 21(22)(431) 
Other nonoperating income (expense)(155)(216)(103)(84)(101)1,394667
Interest and debt expense(221)(191)(155)(159)(140)(123)(120)
Income from continuing operations before equity method investments, income taxes:9511,1131,4171,2011,0802,8711,926
Income from equity method investments17390361284299266547
Other undisclosed income (loss) from continuing operations before income taxes248 (121)    
Income from continuing operations before income taxes:1,2161,5031,6571,4851,3793,1372,473
Income tax expense (benefit)(256)(437)(2,154)3(147)(1,096)(512)
Income (loss) before gain (loss) on sale of properties:9601,066(497)1,4881,2322,0411,961
Other undisclosed net income1924182,217116434 
Net income (loss):9791,090(479)3,7051,3482,4751,961
Other undisclosed net loss attributable to parent(19)(24)(18)(10)(9)(3) 
Net income (loss) attributable to parent:9601,066(497)3,6951,3392,4721,961
Preferred stock dividends and other adjustments(98)(98)(98)    
Other undisclosed net loss available to common stockholders, basic   (98)(98)(94) 
Net income (loss) available to common stockholders, basic:862968(595)3,5971,2412,3781,961
Convertible preferred dividends9898     
Other undisclosed net income available to common stockholders, diluted   989894 
Net income (loss) available to common stockholders, diluted:9601,066(595)3,6951,3392,4721,961

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):9791,090(479)3,7051,3482,4751,961
Other comprehensive income (loss)(161)(169)8406(505)(1,352)(312)
Other undisclosed comprehensive loss   (3,582)   
Comprehensive income:8189213611298431,1231,649
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(19)(23)(24)3,701(8)(2) 
Comprehensive income, net of tax, attributable to parent:7998983373,8308351,1211,649

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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