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v3.25.3

Reportable Segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Differences between Reported Amount and Reporting Currency Denominated Amount | Constant-currency rates used are as follows and are applied to the respective periods presented and to all foreign exchange exposures during the period, even though the Company may be less than 100% hedged:
Currency | Japanese yen | South Korean won | Chinese yuan | New Taiwan dollar | Mexican peso | Euro
2024 Rate | ¥107 | ₩1,175 | ¥6.7 | NT$31 | MX$20 | €0.81
2025 Rate | ¥120 | ₩1,250 | ¥6.9 | NT$31 | MX$21 | €0.88
Schedule of Segment Reporting Information, by Segment | The following provides selected segment information as described above: Segment information (in millions):
| Optical Communications |  | Display |  | Specialty Materials |  | Automotive |  | Life Sciences |  | Hemlock and Emerging Growth Businesses |  | Total
Three months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales | $ | 1,652 |  |  | $ | 939 |  |  | $ | 621 |  |  | $ | 454 |  |  | $ | 242 |  |  | $ | 364 |  |  | $ | 4,272 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |
Research, development and engineering expenses (1) | 75 |  |  | 23 |  |  | 71 |  |  | 38 |  |  | 6 |  |  | 20 |  |  | 233 |
Depreciation (2) | 66 |  |  | 105 |  |  | 37 |  |  | 40 |  |  | 15 |  |  | 41 |  |  | 304 |
Other segment items (3) | 1,131 |  |  | 495 |  |  | 371 |  |  | 290 |  |  | 200 |  |  | 300 |  |  | 2,787 |
Income tax provision (4) | 85 |  |  | 66 |  |  | 29 |  |  | 18 |  |  | 5 |  |  | 4 |  |  | 207 |
Segment net income (loss) | $ | 295 |  |  | $ | 250 |  |  | $ | 113 |  |  | $ | 68 |  |  | $ | 16 |  |  | $ | (1) |  |  | $ | 741 |
Capital expenditures | $ | 129 |  |  | $ | 95 |  |  | $ | 55 |  |  | $ | 29 |  |  | $ | 5 |  |  | $ | 49 |  |  | $ | 362 |
Three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales | $ | 1,246 |  |  | $ | 1,015 |  |  | $ | 548 |  |  | $ | 430 |  |  | $ | 244 |  |  | $ | 250 |  |  | $ | 3,733 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |
Research, development and engineering expenses (1) | 71 |  |  | 29 |  |  | 69 |  |  | 43 |  |  | 5 |  |  | 31 |  |  | 248 |
Depreciation (2) | 69 |  |  | 110 |  |  | 39 |  |  | 44 |  |  | 17 |  |  | 29 |  |  | 308 |
Other segment items (3) | 882 |  |  | 516 |  |  | 348 |  |  | 278 |  |  | 203 |  |  | 173 |  |  | 2,400 |
Income tax provision (4) | 49 |  |  | 75 |  |  | 20 |  |  | 14 |  |  | 4 |  |  | 5 |  |  | 167 |
Segment net income | $ | 175 |  |  | $ | 285 |  |  | $ | 72 |  |  | $ | 51 |  |  | $ | 15 |  |  | $ | 12 |  |  | $ | 610 |
Capital expenditures | $ | 49 |  |  | $ | 45 |  |  | $ | 13 |  |  | $ | 20 |  |  | $ | 2 |  |  | $ | 55 |  |  | $ | 184 |
Nine months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales | $ | 4,573 |  |  | $ | 2,742 |  |  | $ | 1,667 |  |  | $ | 1,354 |  |  | $ | 726 |  |  | $ | 934 |  |  | $ | 11,996 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |
Research, development and engineering expenses (1) | 228 |  |  | 72 |  |  | 206 |  |  | 108 |  |  | 19 |  |  | 69 |  |  | 702 |
Depreciation (2) | 200 |  |  | 315 |  |  | 111 |  |  | 122 |  |  | 46 |  |  | 109 |  |  | 903 |
Other segment items (3) | 3,187 |  |  | 1,426 |  |  | 1,011 |  |  | 852 |  |  | 601 |  |  | 781 |  |  | 7,858 |
Income tax provision (4) | 215 |  |  | 193 |  |  | 71 |  |  | 57 |  |  | 13 |  |  | 2 |  |  | 551 |
Segment net income (loss) | $ | 743 |  |  | $ | 736 |  |  | $ | 268 |  |  | $ | 215 |  |  | $ | 47 |  |  | $ | (27) |  |  | $ | 1,982 |
Capital expenditures | $ | 313 |  |  | $ | 206 |  |  | $ | 131 |  |  | $ | 71 |  |  | $ | 11 |  |  | $ | 192 |  |  | $ | 924 |
Nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Segment net sales | $ | 3,289 |  |  | $ | 2,901 |  |  | $ | 1,503 |  |  | $ | 1,400 |  |  | $ | 729 |  |  | $ | 773 |  |  | $ | 10,595 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |
Research, development and engineering expenses (1) | 202 |  |  | 83 |  |  | 186 |  |  | 122 |  |  | 17 |  |  | 76 |  |  | 686 |
Depreciation (2) | 201 |  |  | 336 |  |  | 115 |  |  | 131 |  |  | 51 |  |  | 84 |  |  | 918 |
Other segment items (3) | 2,350 |  |  | 1,542 |  |  | 975 |  |  | 893 |  |  | 604 |  |  | 565 |  |  | 6,929 |
Income tax provision (4) | 118 |  |  | 196 |  |  | 48 |  |  | 54 |  |  | 12 |  |  | 16 |  |  | 444 |
Segment net income | $ | 418 |  |  | $ | 744 |  |  | $ | 179 |  |  | $ | 200 |  |  | $ | 45 |  |  | $ | 32 |  |  | $ | 1,618 |
Capital expenditures | $ | 133 |  |  | $ | 179 |  |  | $ | 73 |  |  | $ | 41 |  |  | $ | 10 |  |  | $ | 147 |  |  | $ | 583 |
(1)Research, development and engineering expenses include direct project spending that is identifiable to a segment. (2)Depreciation expense for Corning’s reportable segments includes an allocation of depreciation of corporate property not specifically identifiable to a segment. (3)Other segment items for each reportable segment primarily include the cost of materials, salaries, wages and benefits, including variable compensation, and selling, general and administrative expenses. (4)Income tax provision reflects a tax rate of 21%. Segment information, continued (in millions):
| Optical Communications |  | Display |  | Specialty Materials |  | Automotive |  | Life Sciences |  | Hemlock and Emerging Growth Businesses |  | Total
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in affiliated companies, at equity | $ | 4 |  |  | $ | 100 |  |  | $ | 17 |  |  |  |  |  |  |  |  | $ | 179 |  |  | $ | 300 |
Segment assets (1) | $ | 3,958 |  |  | $ | 6,750 |  |  | $ | 2,643 |  |  | $ | 2,443 |  |  | $ | 799 |  |  | $ | 2,927 |  |  | $ | 19,520 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in affiliated companies, at equity | $ | 4 |  |  | $ | 90 |  |  | $ | 15 |  |  |  |  |  |  |  |  | $ | 181 |  |  | $ | 290 |
Segment assets (1) | $ | 3,506 |  |  | $ | 6,596 |  |  | $ | 2,489 |  |  | $ | 2,366 |  |  | $ | 800 |  |  | $ | 1,869 |  |  | $ | 17,626 |
(1)Segment assets include inventory, accounts receivable, property, plant and equipment, net of accumulated depreciation and associated equity companies.
Schedule of Reconciliation of Revenue from Segments to Consolidated | The following table presents a reconciliation of net sales of reportable segments to consolidated net sales (in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net sales of reportable segments | $ | 3,908 |  |  | $ | 3,483 |  |  | $ | 11,062 |  |  | $ | 9,822 |
Net sales of Hemlock and Emerging Growth Businesses | 364 |  |  | 250 |  |  | 934 |  |  | 773 |
Impact of constant-currency reporting (1) | (172) |  |  | (342) |  |  | (582) |  |  | (978) |
Consolidated net sales | $ | 4,100 |  |  | $ | 3,391 |  |  | $ | 11,414 |  |  | $ | 9,617 |
(1)Amount primarily represents the impact of foreign currency adjustments in the Display segment.
Schedule of Reconciliation of Net Income (Loss) from Segments to Consolidated | The following table presents a reconciliation of net income of reportable segments to consolidated net income (loss) (in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net income of reportable segments | $ | 742 |  |  | $ | 598 |  |  | $ | 2,009 |  |  | $ | 1,586 |
Net (loss) income of Hemlock and Emerging Growth Businesses | (1) |  |  | 12 |  |  | (27) |  |  | 32 |
Unallocated amounts: |  |  |  |  |  |  |
Impact of constant-currency reporting | (157) |  |  | (258) |  |  | (496) |  |  | (751) |
Translated earnings contract gain (loss), net | 33 |  |  | (157) |  |  | 63 |  |  | (91) |
Translation gain (loss) on foreign denominated debt, net | 4 |  |  | (107) |  |  | (66) |  |  | 28 |
Litigation, regulatory and other legal matters | (50) |  |  | (16) |  |  | (57) |  |  | (11) |
Research, development, and engineering expenses (1) | (47) |  |  | (39) |  |  | (124) |  |  | (121) |
Amortization of intangibles | (27) |  |  | (31) |  |  | (83) |  |  | (91) |
Interest expense, net | (62) |  |  | (63) |  |  | (197) |  |  | (189) |
Income tax benefit | 127 |  |  | 164 |  |  | 332 |  |  | 320 |
Severance charges |  |  |  | (43) |  |  | (2) |  |  | (46) |
Capacity optimization and other charges and credits (2) | (16) |  |  | (91) |  |  | (8) |  |  | (217) |
Other corporate items | (76) |  |  | (64) |  |  | (189) |  |  | (197) |
Net income (loss) | $ | 470 |  |  | $ | (95) |  |  | $ | 1,155 |  |  | $ | 252 |
(1)Amount does not include research, development and engineering expense related to severance changes. (2)Amount includes charges associated with impairment losses, asset write-offs, accelerated depreciation, disposal costs and inventory write-downs. Refer to Note 2 (Restructuring, Impairment and Other Charges and Credits) for additional information.

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