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Note 9 - Acquisitions | 6 Months Ended
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Jun. 30, 2015
Business Combinations [Abstract] |
Business Combination Disclosure [Text Block] | 9. Acquisitions Corning completed four acquisitions during the first quarter of 2015. During the second quarter of 2015 minor adjustments were made to the preliminary allocation of the total purchase consideration related to working capital adjustments and true-up of the fair value of assets acquired for the four acquisitions. Corning has not completed its accounting for the acquisitions; therefore, amounts are subject to change. A summary of the preliminary allocation of the total purchase consideration for the four acquisitions is as follows (in millions):
Cash and cash equivalents | $ | 2
Trade receivables |  | 49
Inventory |  | 28
Property, plant and equipment |  | 37
Other intangible assets |  | 242
Other current and non-current assets |  | 22
Current and non-current liabilities |  | (59)
Total identified net assets |  | 321
Purchase consideration |  | (534)
Goodwill (1) | $ | 213
(1) | The goodwill was allocated to the Optical Communications segment.
The total consideration related to the acquisitions primarily consisted of cash and, in two of the acquisitions, contingent consideration. The contingent consideration arrangements may require additional amounts to be paid in 2016 and 2017 based on projections of future revenues. The combined potential additional consideration is capped at $28 million. The total fair value of the contingent consideration for the two acquisitions was fair valued at $13 million as of the acquisition date and had no changes as of June 30, 2015. The goodwill generated from these acquisitions is primarily related to the value of the product portfolio and customer/distribution networks acquired, combined with Corning’s existing business segments, as well as market participant synergies and other intangibles that do not qualify for separate recognition. The goodwill is partially deductible for income tax purposes. The acquired amortizable intangible assets have a weighted-average useful life of approximately 10 years. Acquisition-related costs of $9 million included in selling, general and administrative expense in the Consolidated Statements of Income for the six months ended June 30, 2015 included costs for legal, accounting, valuation and other professional services. The Consolidated Financial Statements include the operating results of each business combination from the date of acquisition. Pro forma results of operations have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to Corning’s financial results.

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