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v3.22.2.2

Note 15 - Reportable Segments (Tables) | 9 Months Ended
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Sep. 30, 2022
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Hemlock |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | and |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Emerging |  |  |  |
|  | Optical |  |  | Display |  |  | Specialty |  |  | Environmental |  |  | Life |  |  | Growth |  |  |  |  |
|  | Communications |  |  | Technologies |  |  | Materials |  |  | Technologies |  |  | Sciences |  |  | Businesses |  |  | Total |
Three months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales |  | $ | 1,317 |  |  | $ | 686 |  |  | $ | 519 |  |  | $ | 425 |  |  | $ | 312 |  |  | $ | 407 |  |  | $ | 3,666 |
Depreciation (1) |  | $ | 96 |  |  | $ | 151 |  |  | $ | 56 |  |  | $ | 44 |  |  | $ | 23 |  |  | $ | 38 |  |  | $ | 408 |
Research, development and engineering expenses (2) |  | $ | 60 |  |  | $ | 31 |  |  | $ | 66 |  |  | $ | 25 |  |  | $ | 10 |  |  | $ | 43 |  |  | $ | 235 |
Income tax provision (3) |  | $ | (50 | ) |  | $ | (35 | ) |  | $ | (26 | ) |  | $ | (23 | ) |  | $ | (11 | ) |  | $ | (8 | ) |  | $ | (153 | )
Segment net income (4) |  | $ | 183 |  |  | $ | 134 |  |  | $ | 96 |  |  | $ | 87 |  |  | $ | 43 |  |  | $ | 18 |  |  | $ | 561 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Hemlock |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | and |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Emerging |  |  |  |  |
|  | Optical |  |  | Display |  |  | Specialty |  |  | Environmental |  |  | Life |  |  | Growth |  |  |  |  |
|  | Communications |  |  | Technologies |  |  | Materials |  |  | Technologies |  |  | Sciences |  |  | Businesses |  |  | Total |
Three months ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales |  | $ | 1,131 |  |  | $ | 956 |  |  | $ | 556 |  |  | $ | 385 |  |  | $ | 305 |  |  | $ | 306 |  |  | $ | 3,639 |
Depreciation (1) |  | $ | 58 |  |  | $ | 153 |  |  | $ | 42 |  |  | $ | 34 |  |  | $ | 14 |  |  | $ | 38 |  |  | $ | 339 |
Research, development and engineering expenses (2) |  | $ | 57 |  |  | $ | 31 |  |  | $ | 49 |  |  | $ | 28 |  |  | $ | 9 |  |  | $ | 44 |  |  | $ | 218 |
Income tax provision (3) |  | $ | (38 | ) |  | $ | (64 | ) |  | $ | (28 | ) |  | $ | (16 | ) |  | $ | (12 | ) |  | $ | (1 | ) |  | $ | (159 | )
Segment net income (loss) (4) |  | $ | 139 |  |  | $ | 247 |  |  | $ | 107 |  |  | $ | 60 |  |  | $ | 45 |  |  | $ | (5 | ) |  | $ | 593 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Hemlock |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | and |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Emerging |  |  |  |  |
|  | Optical |  |  | Display |  |  | Specialty |  |  | Environmental |  |  | Life |  |  | Growth |  |  |  |  |
|  | Communications |  |  | Technologies |  |  | Materials |  |  | Technologies |  |  | Sciences |  |  | Businesses |  |  | Total |
Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales |  | $ | 3,828 |  |  | $ | 2,523 |  |  | $ | 1,497 |  |  | $ | 1,190 |  |  | $ | 934 |  |  | $ | 1,200 |  |  | $ | 11,172 |
Depreciation (1) |  | $ | 223 |  |  | $ | 453 |  |  | $ | 138 |  |  | $ | 111 |  |  | $ | 53 |  |  | $ | 111 |  |  | $ | 1,089 |
Research, development and engineering expenses (2) |  | $ | 173 |  |  | $ | 92 |  |  | $ | 163 |  |  | $ | 74 |  |  | $ | 28 |  |  | $ | 121 |  |  | $ | 651 |
Income tax provision (3) |  | $ | (146 | ) |  | $ | (157 | ) |  | $ | (70 | ) |  | $ | (59 | ) |  | $ | (32 | ) |  | $ | (19 | ) |  | $ | (483 | )
Segment net income (4) |  | $ | 531 |  |  | $ | 598 |  |  | $ | 262 |  |  | $ | 223 |  |  | $ | 122 |  |  | $ | 35 |  |  | $ | 1,771 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Hemlock |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | and |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Emerging |  |  |  |  |
|  | Optical |  |  | Display |  |  | Specialty |  |  | Environmental |  |  | Life |  |  | Growth |  |  |  |  |
|  | Communications |  |  | Technologies |  |  | Materials |  |  | Technologies |  |  | Sciences |  |  | Businesses |  |  | Total |
Nine months ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales |  | $ | 3,143 |  |  | $ | 2,758 |  |  | $ | 1,490 |  |  | $ | 1,233 |  |  | $ | 917 |  |  | $ | 865 |  |  | $ | 10,406 |
Depreciation (1) |  | $ | 174 |  |  | $ | 450 |  |  | $ | 125 |  |  | $ | 105 |  |  | $ | 40 |  |  | $ | 104 |  |  | $ | 998 |
Research, development and engineering expenses (2) |  | $ | 160 |  |  | $ | 79 |  |  | $ | 143 |  |  | $ | 84 |  |  | $ | 25 |  |  | $ | 114 |  |  | $ | 605 |
Income tax (provision) benefit (3) |  | $ | (109 | ) |  | $ | (184 | ) |  | $ | (74 | ) |  | $ | (57 | ) |  | $ | (39 | ) |  | $ | 10 |  |  | $ | (453 | )
Segment net income (loss) (4) |  | $ | 398 |  |  | $ | 708 |  |  | $ | 279 |  |  | $ | 215 |  |  | $ | 145 |  |  | $ | (44 | ) |  | $ | 1,701 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] |
|  | Three months ended |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Net sales of reportable segments |  | $ | 3,259 |  |  | $ | 3,333 |  |  | $ | 9,972 |  |  | $ | 9,541 |
Net sales of Hemlock and Emerging Growth Businesses |  |  | 407 |  |  |  | 306 |  |  |  | 1,200 |  |  |  | 865 |
Impact of constant currency reporting (1) |  |  | (178 | ) |  |  | (24 | ) |  |  | (389 | ) |  |  |  |
Consolidated net sales |  | $ | 3,488 |  |  | $ | 3,615 |  |  | $ | 10,783 |  |  | $ | 10,406 |
Reconciliation of Net Income (Loss) from Segments to Consolidated [Table Text Block] |
|  | Three months ended |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Net income of reportable segments |  | $ | 543 |  |  | $ | 598 |  |  | $ | 1,736 |  |  | $ | 1,745 |
Net income (loss) of Hemlock and Emerging Growth Businesses |  |  | 18 |  |  |  | (5 | ) |  |  | 35 |  |  |  | (44 | )
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impact of constant currency reporting not included in segment net income (loss) (1) |  |  | (136 | ) |  |  | (33 | ) |  |  | (319 | ) |  |  | (47 | )
(Loss) gain on foreign currency hedges related to translated earnings |  |  | (68 | ) |  |  | (13 | ) |  |  | 257 |  |  |  | 262 |
Translation gain on Japanese yen-denominated debt |  |  | 84 |  |  |  | 4 |  |  |  | 321 |  |  |  | 127 |
Litigation, regulatory and other legal matters |  |  | (23 | ) |  |  | (3 | ) |  |  | (65 | ) |  |  | (11 | )
Research, development, and engineering expenses (2) |  |  | (43 | ) |  |  | (34 | ) |  |  | (115 | ) |  |  | (107 | )
Amortization of intangibles |  |  | (31 | ) |  |  | (32 | ) |  |  | (92 | ) |  |  | (97 | )
Interest expense, net |  |  | (59 | ) |  |  | (64 | ) |  |  | (180 | ) |  |  | (205 | )
Income tax benefit |  |  | 119 |  |  |  | 50 |  |  |  | 103 |  |  |  | 51 |
Restructuring, impairment and other charges and credits (3) |  |  | (138 | ) |  |  | (40 | ) |  |  | (217 | ) |  |  | (42 | )
Gain on sale of a business |  |  |  |  |  |  |  |  |  |  | 53 |  |  |  | 54 |
Other corporate items |  |  | (58 | ) |  |  | (57 | ) |  |  | (165 | ) |  |  | (267 | )
Net income attributable to Corning Incorporated |  | $ | 208 |  |  | $ | 371 |  |  | $ | 1,352 |  |  | $ | 1,419 |

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