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Consolidated Statements Of Income (USD $)
In Millions, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Consolidated Statements Of Income    
Net sales$ 2,075$ 1,602$ 6,003$ 4,867
Cost of sales1,0978783,2622,585
Gross margin9787242,7412,282
Operating expenses:    
Selling, general and administrative expenses216250750731
Research, development and engineering expenses166148494437
Amortization of purchased intangibles42116
Restructuring, impairment and other credits (Note 2) (1) (3)
Asbestos litigation charge (credit) (Note 3)5[1]6[1]15[1](41)[1]
Operating income5873191,4711,152
Equity in earnings of affiliated companies (Note 9)3245041,1501,447
Interest income63158
Interest expense(23)(29)(72)(81)
Other income, net (Note 1)27297130
Income before income taxes9217992,6612,656
Provision for income taxes (Note 5)(110)(14)(347)(142)
Net income attributable to Corning Incorporated$ 811$ 785$ 2,314$ 2,514
Earnings per common share attributable to Corning Incorporated:    
Basic (Note 6)$ 0.52$ 0.50$ 1.48$ 1.61
Diluted (Note 6)$ 0.51$ 0.50$ 1.46$ 1.59
Dividends declared per common share$ 0.05$ 0.05$ 0.15$ 0.15
[1] In the three and nine months ended September 30, 2011, Corning recorded a charge of $5 million and $15 million, respectively, to adjust the asbestos liability for the change in value of the components of the Amended PCC Plan. In the three and nine months ended September 30, 2010, Corning recorded a charge of $6 million and a net credit of $41 million, respectively, primarily reflecting the change in the terms of the proposed asbestos settlement.