Corning inc /ny (GLW)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07
Net sales

11,503

11,290

10,116

9,390

9,111

9,715

7,819

8,012

7,890

6,632

5,395

5,948

5,860

Cost of sales

7,468

6,829

6,096

5,627

5,458

5,663

4,495

4,693

4,314

3,583

3,302

3,210

3,111

Gross margin

4,035

4,461

4,020

3,763

3,653

4,052

3,324

3,319

3,576

3,049

2,093

2,738

2,749

Operating expenses:
Selling, general and administrative expenses

1,585

1,799

1,473

1,462

1,508

1,202

1,126

1,205

1,028

1,015

881

901

912

Research, development and engineering expenses

1,031

993

864

736

769

815

710

769

668

603

563

627

565

Amortization of purchased intangibles

113

94

75

64

54

33

31

19

15

8

10

11

10

Restructuring, impairment and other charges

-

-

-

77

0

71

67

133

129

-329

228

19

-4

Asbestos litigation (credit) charges (Note 7)

-

-

-

-

-

-

19

14

24

-49

20

-340

185

Operating (loss) income

1,306

1,575

1,608

1,424

1,322

1,931

1,371

1,179

1,712

1,801

391

1,520

1,081

Equity in earnings of affiliated companies

17

390

361

284

299

266

547

810

1,471

1,958

1,435

1,358

983

Interest income

21

38

45

32

21

26

8

14

19

11

19

85

145

Interest expense

221

191

155

159

140

123

120

111

89

109

82

59

82

Translated earnings contract gain, net

248

-93

-121

-448

80

1,369

-

-

-

-

-

-

-

Transaction-related gain, net (Note 8)

-

-

-

-

-

74

-

-

-

-

-

-

-

Gain on realignment of equity investment

-

-

-

2,676

-

0

-

-

-

-

-

-

-

Foreign currency hedge (loss) gain, net

-

-

-

-

-

-

622

-

-

-

-

-

-

Other-than-temporary impairment (OTTI) losses:
Change in total OTTI losses

-

-

-

-

-

-

-

-

-

-

-

-

0

Changes in OTTI recognized in other comprehensive income (before taxes)

-

-

-

-

-

-

-

-

-

-

-

-

0

Net OTTI losses recognized in earnings

-

-

-

-

-

-

-

-

-

-

-

-

0

Other expense, net

-155

-216

-81

-117

-96

25

45

83

118

184

171

-22

144

(Loss) income before income taxes

1,216

1,503

1,657

3,692

1,486

3,568

2,473

1,975

3,231

3,845

1,934

2,882

2,271

Benefit (provision) for income taxes (Note 5)

256

437

2,154

-3

147

1,096

512

339

414

287

-74

-2,375

121

Net (loss) income attributable to Corning Incorporated

960

1,066

-497

3,695

1,339

2,472

1,961

1,636

2,817

3,558

2,008

5,257

2,150

(Loss) earnings per common share attributable to Corning Incorporated:
Basic (Note 6)

1.11

1.19

-0.66

3.53

1.02

1.82

1.35

1.10

1.80

2.28

1.30

3.37

1.37

Diluted (Note 6)

1.07

1.13

-0.66

3.23

1.00

1.73

1.34

1.09

1.78

2.25

1.28

3.32

1.34

Dividends declared per common share

-

-

-

0.54

0.36

0.52

0.39

0.32

0.23

0.20

0.20

0.20

0.10