v3.25.2
Reportable Segments (Tables)
 6 Months Ended
Jun. 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:
CurrencyJapanese yenSouth Korean wonChinese yuanNew Taiwan dollarMexican pesoEuro
2024 Rate¥107₩1,175¥6.7NT$31MX$20€0.81
2025 Rate¥120₩1,250¥6.9NT$31MX$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		DisplaySpecialty MaterialsAutomotiveLife
Sciences		Hemlock and Emerging Growth BusinessesTotal
Three months ended June 30, 2025
Segment net sales$1,566 $898 $545 $460 $250 $326 $4,045 
Less:
Research, development and
    engineering expenses (1)
76 24 68 35 7 23 233 
Depreciation (2)
69 108 39 41 15 38 310 
Other segment items (3)
1,102 460 335 284 206 275 2,662 
Income tax provision (4)
72 63 22 21 4  182 
Segment net income (loss)$247 $243 $81 $79 $18 $(10)$658 
Capital expenditures$87 $65 $45 $30 $3 $93 $323 
Three months ended June 30, 2024
Segment net sales$1,113 $1,014 $501 $479 $249 $248 $3,604 
Less:
Research, development and
    engineering expenses (1)
66 28 57 41 6 24 222 
Depreciation (2)
66 110 40 44 17 28 305 
Other segment items (3)
797 550 324 304 205 190 2,370 
Income tax provision (4)
41 68 17 19 4 3 152 
Segment net income$143 $258 $63 $71 $17 $3 $555 
Capital expenditures$48 $61 $27 $12 $3 $62 $213 
Six months ended June 30, 2025
Segment net sales$2,921 $1,803 $1,046 $900 $484 $570 $7,724 
Less:
Research, development and
    engineering expenses (1)
153 49 135 70 13 49 469 
Depreciation (2)
134 210 74 82 31 68 599 
Other segment items (3)
2,056 931 640 562 401 481 5,071 
Income tax provision (benefit) (4)
130 127 42 39 8 (2)344 
Segment net income (loss)$448 $486 $155 $147 $31 $(26)$1,241 
Capital expenditures$184 $111 $76 $42 $6 $143 $562 
Six months ended June 30, 2024
Segment net sales$2,043 $1,886 $955 $970 $485 $523 $6,862 
Less:
Research, development and
    engineering expenses (1)
131 54 117 79 12 45 438 
Depreciation (2)
132 226 76 87 34 55 610 
Other segment items (3)
1,468 1,026 627 615 401 392 4,529 
Income tax provision (4)
69 121 28 40 8 11 277 
Segment net income$243 $459 $107 $149 $30 $20 $1,008 
Capital expenditures$84 $134 $60 $21 $8 $92 $399 
(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 includes the cost of materials, salaries, wages and benefits, including variable compensation, and selling, general and administrative expenses.
(4)Income tax provision (benefit) reflects a tax rate of 21%.
Segment information, continued (in millions):
Optical
Communications		DisplaySpecialty MaterialsAutomotiveLife
Sciences		Hemlock and Emerging Growth BusinessesTotal
June 30, 2025
Investment in affiliated companies,
   at equity		$6 $101 $18   $184 $309 
Segment assets (1)
$3,952 $6,773 $2,648 $2,439 $827 $2,143 $18,782 
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
June 30,		Six months ended
June 30,
2025202420252024
Net sales of reportable segments$3,719 $3,356 $7,154 $6,339 
Net sales of Hemlock and Emerging Growth Businesses326 248 570 523 
Impact of constant-currency reporting (1)
(183)(353)(410)(636)
Consolidated net sales$3,862 $3,251 $7,314 $6,226 
(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 (in millions):
Three months ended
June 30,		Six months ended
June 30,
2025202420252024
Net income of reportable segments$668 $552 $1,267 $988 
Net (loss) income of Hemlock and Emerging Growth Businesses(10)3 (26)20 
Unallocated amounts:    
Impact of constant-currency reporting(159)(267)(339)(493)
Translated earnings contract gain, net131 27 30 66 
Translation (loss) gain on foreign denominated debt, net(27)54 (70)135 
Research, development, and engineering expenses
(43)(40)(77)(82)
Amortization of intangibles(28)(30)(56)(60)
Interest expense, net(72)(65)(135)(126)
Income tax benefit98 102 205 156 
Restructuring, impairment and other charges and credits (1)
(1)(138)6 (129)
Other corporate items(57)(76)(120)(128)
Net income$500 $122 $685 $347 
(1)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.