v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregated Revenue
The following table presents revenues by product category. The product category classifications have been updated and the comparative period has been recast due to changes in how the business is being managed as of the first quarter of fiscal year 2026 (in millions):
Three months ended
June 30,		Six months ended
June 30,
2026202520262025
Optical communications products$2,072 $1,566 $3,918 $2,921 
Electronics glass and advanced optics products1,230 1,267 2,445 2,466 
Automotive products474 457 915 883 
Polycrystalline silicon and solar products438 231 808 437 
Life Sciences products249 246 477 474 
All other products42 95 86 133 
Total revenue$4,505 $3,862 $8,649 $7,314 
Contract Liabilities
As of June 30, 2026 and December 31, 2025, the Company had contract liabilities of $2.7 billion and $2.3 billion, respectively. Contract liabilities include customer deposits received prior to the satisfaction of performance obligations and deferred revenue related to non-refundable consideration received in advance of performance. Refer to Note 5 (Other Assets and Other Liabilities) for additional information.
Customer deposits allow customers to secure rights to products produced by Corning under long-term supply agreements, typically over periods of up to 10 years. As products are delivered, Corning recognizes revenue and reduces the related customer deposit liability by applying such amounts against customer receivables. During the second quarter of 2026, the Company recorded an approximate $0.7 billion net contract liability, consisting of a $1.0 billion customer deposit under a long-term supply agreement extending through December 31, 2029, partially offset by $296 million for a warrant issued to the customer, accounted for as consideration payable to the customer and measured at its grant-date fair value. The fair value of the warrant will be recognized as a reduction of revenue as sales occur under the agreement. Refer to Note 12 (Shareholders’ Equity) for additional information.
During the three and six months ended June 30, 2026, the Company applied $28 million and $214 million, respectively, of customer deposits included in the beginning-of-period contract liability balance to customer receivables. During the three and six months ended June 30, 2025, the Company applied $19 million and $81 million, respectively, of customer deposits included in the beginning-of-period contract liability balance to customer receivables.
Deferred revenue is tracked on a per-customer, contract-unit basis. As customers take delivery of committed volumes under the contract terms, deferred revenue is recognized on a per-unit basis upon transfer of control of the promised goods, based on units delivered relative to total contractual units. During the three and six months ended June 30, 2026, the Company recognized $73 million and $118 million, respectively of revenue that was included in the beginning-of-period contract liability balance. During the three and six months ended June 30, 2025, the Company recognized $44 million and $83 million, respectively of revenue that was included in the beginning-of-period contract liability balance.