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Note 11 - Other Assets and Other Liabilities | 12 Months Ended
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Dec. 31, 2015
Other Assets Liabilities Disclosure [Abstract] |
Other Assets Liabilities Disclosure [Text Block] |
11. | Other Assets and Other Liabilities
Other assets follow (in millions):
| December 31,
| 2015 |  | 2014
Current assets: |  |  |  |  |
Derivative instruments | $ | 522 |  | $ | 687
Other current assets |  | 390 |  |  | 412
Other current assets | $ | 912 |  | $ | 1,099
Non-current assets: |  |  |  |  |
Derivative instruments | $ | 473 |  | $ | 847
Contingent consideration asset |  | 246 |  |  | 445
Other non-current assets |  | 794 |  |  | 430
Other assets | $ | 1,513 |  | $ | 1,722
Other liabilities follow (in millions):
| December 31,
| 2015 |  | 2014
Current liabilities: |  |  |  |  |
Wages and employee benefits | $ | 491 |  | $ | 562
Income taxes |  | 53 |  |  | 106
Asbestos litigation |  | 238 |  |  |
Other current liabilities |  | 526 |  |  | 623
Other accrued liabilities | $ | 1,308 |  | $ | 1,291
Non-current liabilities: |  |  |  |  |
Asbestos litigation | $ | 440 |  | $ | 681
Other non-current liabilities |  | 1,802 |  |  | 1,365
Other liabilities | $ | 2,242 |  | $ | 2,046
Asbestos Litigation Corning and PPG each own 50% of the capital stock of PCC. Over a period of more than two decades, PCC and several other defendants were named in numerous lawsuits involving claims alleging personal injury from exposure to asbestos. The liability for the Amended PCC Plan and the non-PCC asbestos claims was estimated to be $678 million at December 31, 2015, compared with an estimate of liability of $681 million at December 31, 2014. At December 31, 2015, $440 million of the obligation, consisting of $290 million for the fixed series of payments and $150 million for the non-PCC asbestos claims, is classified as a non-current liability, as installment payments for the cash portion of the obligation are not planned to commence until more than 12 months after the Amended PCC Plan becomes effective. The amount of the obligation related to the fair value of PCE, $238 million, was reclassified to a current liability in the fourth quarter of 2015, as the contribution of the assets is expected to be made within the next twelve months. Refer to Note 7 (Investments) to the Consolidated Financial Statements for additional information on the asbestos litigation. Customer Deposits In December 2015, Corning announced that with the support of the Hefei government it will locate a Gen 10.5 glass manufacturing facility in the Hefei XinZhan General Pilot Zone in Anhui Province, China. Glass substrate production from the new facility is expected to support mass production of LCD panels for large-size televisions by the third quarter of 2018. As part of this investment, Corning and a Chinese customer have entered into a long-term supply agreement that commits the customer to the purchase of Gen 10.5 glass substrates from the Corning manufacturing facility in Hefei. This agreement stipulates that the customer will provide a non-refundable cash deposit in the amount of approximately $400 million to Corning to secure rights to an amount of glass that is produced by Corning over the next 10 years. Corning received $197 million of this deposit in 2015 and will receive the additional $197 million in 2016. As glass is shipped to the customer, Corning will recognize revenue and issue credit memoranda to reduce the amount of the customer deposit liability, which are applied against customer receivables resulting from the sale of glass. In 2015, there were no credit memoranda issued.

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