Corning Incorporated (GLW) financial statements: income statement, balance sheet and cash flow

Corning Incorporated's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Corning Incorporated reported revenue of $15.6B (+19.1% year on year) and net income of $1.7B (+194.3% year on year).

Income statement

Corning Incorporated income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales	$15.6B	$13.1B	$12.6B	$14.2B
Cost of sales	$10.0B	$8.8B	$8.7B	$9.7B
Gross margin	$5.6B	$4.3B	$3.9B	$4.5B
Selling, general and administrative expenses	$2.1B	$1.9B	$1.8B	$1.9B
Research, development and engineering expenses	$1.1B	$1.1B	$1.1B	$1.0B
Amortization of purchased intangibles	$110.0M	$121.0M	$122.0M	$123.0M
Operating income	$2.3B	$1.1B	$890.0M	$1.4B
Interest income	$38.0M	$47.0M	$38.0M	$15.0M
Interest expense	($336.0M)	($329.0M)	($329.0M)	($292.0M)
Translated earnings contract gain, net (Note 13)	$150.0M	$83.0M	$161.0M	—
Other (expense) income, net	($79.0M)	($123.0M)	$56.0M	$285.0M
Income before income taxes	$2.1B	$813.0M	$816.0M	$1.8B
Provision for income taxes (Note 15)	($310.0M)	($221.0M)	($168.0M)	($411.0M)
Net income	$1.7B	$592.0M	$648.0M	$1.4B
Net income attributable to non-controlling interest	($146.0M)	($86.0M)	($67.0M)	($70.0M)
Net income attributable to Corning Incorporated	$1.6B	$506.0M	$581.0M	$1.3B
Basic (Note 17) (in dollars per share)	$1.87	$0.59	$0.69	$1.56
Diluted (Note 17) (in dollars per share)	$1.83	$0.58	$0.68	$1.54

Corning Incorporated income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales	$4.5B	$4.1B	$4.1B	$3.9B
Cost of sales	$2.9B	$2.6B	$2.6B	$2.5B
Gross margin	$1.6B	$1.5B	$1.5B	$1.4B
Selling, general and administrative expenses	$608.0M	$588.0M	$624.0M	$515.0M
Research, development and engineering expenses	$299.0M	$278.0M	$280.0M	$276.0M
Amortization of purchased intangibles	$23.0M	$23.0M	$27.0M	$28.0M
Operating income	$698.0M	$639.0M	$589.0M	$573.0M
Interest income	$12.0M	$9.0M	$10.0M	$5.0M
Interest expense	($94.0M)	($92.0M)	($78.0M)	($83.0M)
Translated earnings contract gain, net	$90.0M	($16.0M)	—	—
Other expense, net	($57.0M)	($11.0M)	($4.0M)	($42.0M)
Income before income taxes	$649.0M	$529.0M	$550.0M	$584.0M
Provision for income taxes (Note 11)	($40.0M)	($121.0M)	($80.0M)	($84.0M)
Net income	$609.0M	$408.0M	$470.0M	$500.0M
Net income attributable to non-controlling interest	($50.0M)	($37.0M)	($40.0M)	($31.0M)
Net income attributable to Corning Incorporated	$559.0M	$371.0M	$430.0M	$469.0M
Basic (Note 15) (in dollars per share)	$0.65	$0.43	$0.50	$0.55
Diluted (Note 15) (in dollars per share)	$0.64	$0.43	$0.50	$0.54

Balance sheet

Corning Incorporated balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$1.5B	$1.8B	$1.8B	$1.7B
Trade accounts receivable, net of doubtful accounts - $27 and $33	$2.8B	$2.1B	$1.6B	$1.7B
Inventories (Note 5)	$3.1B	$2.7B	$2.7B	$2.9B
Other current assets (Note 9)	$1.6B	$1.4B	$1.2B	$1.2B
Total current assets	$8.9B	$8.0B	$7.2B	$7.5B
Property, plant and equipment, net of accumulated depreciation - $15,229 and $14,492 (Note 6)	$14.8B	$13.4B	$14.6B	$15.4B
Goodwill (Note 7)	$2.5B	$2.4B	$2.4B	$2.4B
Other intangible assets, net (Note 7)	$657.0M	$752.0M	$905.0M	$1.0B
Deferred income taxes (Note 15)	$1.5B	$1.1B	$1.2B	$1.1B
Other assets (Note 9)	$2.6B	$2.1B	$2.2B	$2.2B
Total Assets	$31.0B	$27.7B	$28.5B	$29.5B
Current portion of long-term debt and short-term borrowings (Note 10)	$804.0M	$326.0M	$320.0M	$224.0M
Accounts payable	$2.0B	$1.5B	$1.5B	$1.8B
Other accrued liabilities (Notes 9 and 12)	$2.8B	$3.1B	$2.5B	$3.1B
Total current liabilities	$5.6B	$4.9B	$4.3B	$5.2B
Long-term debt (Note 10)	$7.6B	$6.9B	$7.2B	$6.7B
Postretirement benefits other than pensions (Note 11)	$314.0M	$336.0M	$398.0M	$407.0M
Other liabilities (Notes 9 and 12)	$5.1B	$4.5B	$4.7B	$5.0B
Total liabilities	$18.7B	$16.7B	$16.6B	$17.2B
Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1.8 billion and 1.8 billion	$924000000.00	$921000000.00	$916000000.00	$910000000.00
Additional paid-in capital – common stock	$17.6B	$17.3B	$16.9B	$16.7B
Retained earnings	$16.6B	$15.9B	$16.4B	$16.8B
Treasury stock, at cost; Shares held: 992 million and 987 million	-21.1B	—	—	—
Accumulated other comprehensive loss	($2.1B)	($2.5B)	($2.0B)	($1.8B)
Total Corning Incorporated shareholders’ equity	$11.8B	$10.7B	$11.6B	$12.0B
Non-controlling interest	$500.0M	$384.0M	$317.0M	$267.0M
Total equity	$12.3B	$11.1B	$11.9B	$12.3B
Total Liabilities and Equity	$31.0B	$27.7B	$28.5B	$29.5B

Corning Incorporated balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$2.5B	$1.8B	$1.6B	$1.5B
Trade accounts receivable, net of doubtful accounts - $29 and $27	$2.9B	$2.7B	$2.5B	$2.3B
Inventories (Note 3)	$3.4B	$3.3B	$3.1B	$3.1B
Other current assets (Note 5)	$2.1B	$1.8B	$1.4B	$1.3B
Total current assets	$10.9B	$9.5B	$8.7B	$8.2B
Property, plant and equipment, net of accumulated depreciation - $15,460 and $15,229	$14.9B	$14.8B	$14.4B	$13.9B
Goodwill	$2.5B	$2.5B	$2.5B	$2.5B
Other intangible assets, net	$610.0M	$632.0M	$684.0M	$711.0M
Deferred income taxes (Note 11)	$1.6B	$1.6B	$1.3B	$1.2B
Other assets (Note 5)	$2.4B	$2.3B	$2.4B	$2.3B
Total Assets	$33.0B	$31.3B	$29.9B	$28.7B
Current portion of long-term debt and short-term borrowings (Note 6)	$668.0M	$1.3B	$812.0M	$786.0M
Accounts payable	$2.4B	$2.3B	$2.0B	$1.9B
Other accrued liabilities (Notes 5 and 8)	$3.0B	$2.4B	$2.7B	$2.8B
Total current liabilities	$6.0B	$5.9B	$5.6B	$5.5B
Long-term debt (Note 6)	$7.8B	$7.7B	$7.4B	$6.7B
Postretirement benefits other than pensions (Note 7)	$325.0M	$311.0M	$301.0M	$302.0M
Other liabilities (Notes 5 and 8)	$5.7B	$5.0B	$4.6B	$4.7B
Total liabilities	$19.8B	$18.9B	$17.9B	$17.2B
Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1.9 billion and 1.8 billion	$927000000.00	$925000000.00	$924000000.00	$923000000.00
Additional paid-in capital – common stock	$18.6B	$17.7B	$17.5B	$17.4B
Retained earnings	$16.7B	$16.7B	$16.3B	$15.8B
Treasury stock, at cost; Shares held: 994 million and 992 million	-21.4B	-21.2B	—	—
Accumulated other comprehensive loss	($2.3B)	($2.3B)	($2.0B)	($1.9B)
Total Corning Incorporated shareholders’ equity	$12.6B	$11.8B	$11.5B	$11.1B
Non-controlling interest	$567.0M	$537.0M	$469.0M	$429.0M
Total equity	$13.1B	$12.3B	$12.0B	$11.5B
Total Liabilities and Equity	$33.0B	$31.3B	$29.9B	$28.7B

Cash flow statement

Corning Incorporated cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.7B	$592.0M	$648.0M	$1.4B
Depreciation	$1.2B	$1.2B	$1.2B	$1.3B
Amortization of purchased intangibles	$110.0M	$121.0M	$122.0M	$123.0M
Loss on disposal of assets, net	$27.0M	$143.0M	$155.0M	$189.0M
Share-based compensation expense	$286.0M	$273.0M	$218.0M	$175.0M
Translation loss (gain) on foreign denominated debt, net	$52.0M	($104.0M)	($100.0M)	($191.0M)
Deferred tax benefit	($355.0M)	($33.0M)	($75.0M)	($46.0M)
Translated earnings contract gain, net	($150.0M)	($83.0M)	($161.0M)	($351.0M)
Pension contributions	($68.0M)	—	—	—
Trade accounts receivable	($749.0M)	($717.0M)	$50.0M	$113.0M
Inventories	($243.0M)	($171.0M)	$157.0M	($522.0M)
Other current assets	($262.0M)	($107.0M)	($80.0M)	($139.0M)
Accounts payable and other current liabilities	$584.0M	$470.0M	($238.0M)	$349.0M
Customer deposits and government incentives	$268.0M	($6.0M)	($42.0M)	$110.0M
Deferred income	($58.0M)	($27.0M)	($5.0M)	($49.0M)
Other, net	$274.0M	$214.0M	($142.0M)	$20.0M
Net cash provided by operating activities	$2.7B	$1.9B	$2.0B	$2.6B
Capital expenditures	($1.3B)	($965.0M)	($1.4B)	($1.6B)
Proceeds from sale of equipment to related party	$11.0M	—	$67.0M	—
Investments in unconsolidated entities	($134.0M)	—	—	—
Realized gains on translated earnings contracts and other	$304.0M	$279.0M	$326.0M	$300.0M
Premiums paid on hedging contracts	($122.0M)	($98.0M)	($9.0M)	($75.0M)
Other, net	($20.0M)	($40.0M)	$23.0M	($14.0M)
Net cash used in investing activities	($1.2B)	($744.0M)	($1.0B)	($1.4B)
Repayments of debt	($298.0M)	($267.0M)	($284.0M)	—
Proceeds from issuance of debt	$294.0M	$153.0M	$82.0M	—
Repayment of acquisition related debt	($75.0M)	—	—	—
Proceeds from cross currency swap	$24.0M	$134.0M	—	—
Principal payments on finance leases	($346.0M)	—	—	—
Payments of employee withholding tax on stock awards	($98.0M)	($81.0M)	($106.0M)	($47.0M)
Proceeds from exercise of stock options	$41.0M	$76.0M	$42.0M	$40.0M
Purchases of common stock for treasury	($163.0M)	($165.0M)	—	($221.0M)
Dividends paid	($999.0M)	($986.0M)	($989.0M)	($932.0M)
Other, net	($52.0M)	($28.0M)	($39.0M)	($22.0M)
Net cash used in financing activities	($1.7B)	($1.2B)	($883.0M)	($1.6B)
Effect of exchange rates on cash	$18.0M	($42.0M)	($14.0M)	($88.0M)
Net (decrease) increase in cash and cash equivalents and restricted cash	($202.0M)	($11.0M)	$108.0M	($477.0M)
Cash and cash equivalents and restricted cash at beginning of year	$1.8B	$1.8B	$1.7B	$2.1B
Cash and cash equivalents and restricted cash at end of year	$1.6B	—	—	—
Restricted cash included in other current assets	$40.0M	—	—	—
Cash and cash equivalents at end of year	$1.5B	$1.8B	$1.8B	$1.7B

Corning Incorporated cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.0B	$408.0M	$1.2B	$685.0M
Depreciation	$702.0M	$334.0M	$913.0M	$603.0M
Amortization of purchased intangibles	$46.0M	$23.0M	$83.0M	$56.0M
Share-based compensation expense	$250.0M	$115.0M	$216.0M	$117.0M
Translation (gain) loss on foreign denominated debt, net	($5.0M)	($6.0M)	—	—
Deferred tax benefit	($101.0M)	($62.0M)	($149.0M)	($39.0M)
Translated earnings contract gain, net	($74.0M)	($16.0M)	—	($30.0M)
Trade accounts receivable	($255.0M)	$12.0M	($429.0M)	($203.0M)
Inventories	($377.0M)	($232.0M)	($266.0M)	($238.0M)
Other current assets	($144.0M)	($56.0M)	($256.0M)	($105.0M)
Accounts payable and other current liabilities	$195.0M	($80.0M)	$391.0M	($59.0M)
Customer deposits and government incentives	$709.0M	($171.0M)	($49.0M)	$43.0M
Deferred income	($102.0M)	($38.0M)	($108.0M)	($70.0M)
Other, net	$218.0M	$99.0M	$119.0M	$24.0M
Net cash provided by operating activities	$2.1B	$362.0M	$1.6B	$859.0M
Capital expenditures	($754.0M)	($332.0M)	($850.0M)	($516.0M)
Proceeds from government incentives	$8.0M	—	—	—
Realized gains on translated earnings contracts and other	$278.0M	$150.0M	$192.0M	$107.0M
Premiums paid on hedging contracts	($102.0M)	—	—	—
Other, net	$8.0M	($29.0M)	($107.0M)	($57.0M)
Net cash used in investing activities	($562.0M)	($203.0M)	($765.0M)	($466.0M)
Repayments of debt	($691.0M)	($13.0M)	($282.0M)	($279.0M)
Proceeds from issuance of debt and short-term borrowings	$449.0M	$427.0M	$285.0M	$285.0M
Proceeds from warrants	$500.0M	—	—	—
Payments of employee withholding tax on stock awards	($279.0M)	($63.0M)	($87.0M)	($70.0M)
Proceeds from exercise of stock options	$23.0M	$14.0M	$31.0M	$12.0M
Dividends paid	($495.0M)	($244.0M)	($744.0M)	($503.0M)
Other, net	($79.0M)	($62.0M)	($56.0M)	($32.0M)
Net cash used in financing activities	($572.0M)	$59.0M	($1.0B)	($696.0M)
Net increase (decrease) in cash and cash equivalents and restricted cash	$945.0M	$213.0M	($120.0M)	($277.0M)
Cash and cash equivalents and restricted cash at beginning of period	$1.6B	$1.6B	$1.8B	$1.8B
Cash and cash equivalents and restricted cash at end of period	$2.5B	$1.8B	—	—
Restricted cash included in other current assets	$7.0M	$24.0M	—	—
Cash and cash equivalents at end of period	$2.5B	$1.8B	$1.6B	$1.5B

Corning Incorporated score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.