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Note 18 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2015

18. Earnings Per Common Share

Basic earnings per common share are computed by dividing income attributable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share assumes the issuance of common shares for all potentially dilutive securities outstanding.

The reconciliation of the amounts used to compute basic and diluted earnings per common share from continuing operations follows (in millions, except per share amounts):

	Years ended December 31,
	2015		2014		2013
Net income attributable to Corning Incorporated	$	1,339	$	2,472	$	1,961
Less: Series A convertible preferred stock dividend		98		94
Net income available to common stockholders - basic		1,241		2,378		1,961
Plus: Series A convertible preferred stock dividend		98		94
Net income available to common stockholders - diluted	$	1,339	$	2,472	$	1,961

Weighted-average common shares outstanding - basic		1,219		1,305		1,452
Effect of dilutive securities:
Stock options and other dilutive securities		9		12		10
Series A convertible preferred stock		115		110
Weighted-average common shares outstanding - diluted		1,343		1,427		1,462
Basic earnings per common share	$	1.02	$	1.82	$	1.35
Diluted earnings per common share	$	1.00	$	1.73	$	1.34

Anti-dilutive potential shares excluded from diluted earnings per common share:
Employee stock options and awards		22		24		39
Accelerated share repurchase forward contract		15		3		3
Total		37		27		42