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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows from Operating Activities:    
Net income $ 1,484 $ 1,540
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 877 730
Amortization of purchased intangibles 25 23
Restructuring, impairment and other charges 51  
Stock compensation charges 47 40
Equity in earnings of affiliated companies (243) (477)
Dividends received from affiliated companies 1,673 221
Deferred tax provision 414 141
Restructuring payments (30) (30)
Employee benefit payments (in excess of) less than expense (5) 34
Gains on translated earnings contracts (600) (205)
Contingent consideration fair value adjustment (77)  
Changes in certain working capital items:    
Trade accounts receivable (63) (139)
Inventories 27 (238)
Other current assets 17 14
Accounts payable and other current liabilities (339) (278)
Other, net 339 127
Net cash provided by operating activities 3,597 1,503
Cash Flows from Investing Activities:    
Capital expenditures (740) (682)
Acquisitions of business, net of cash received 66 (66)
Investment in unconsolidated entities (109) (19)
Proceeds from loan repayments from unconsolidated entities 15  
Short-term investments – acquisitions (1,170) (1,183)
Short-term investments – liquidations 954 1,449
Premium on purchased collars   (107)
Realized gains on translated earnings contracts 226 33
Other, net 5  
Net cash used in investing activities (753) (575)
Cash Flows from Financing Activities:    
Retirement of long-term debt   (498)
Net repayments of short-term borrowings and current portion of long-term debt (50) (69)
Principal payments under capital lease obligations (1) (2)
Proceeds from issuance of short-term debt 22  
Proceeds from issuance of commercial paper, net 424  
Proceeds from issuance of preferred stock (1) 400 [1]  
Proceeds received for incentives   82
Payments to acquire noncontrolling interest   (47)
Proceeds from the exercise of stock options 98 54
Repurchases of common stock for treasury (2,300) (441)
Dividends paid (439) (426)
Net cash used in by financing activities (1,846) (1,347)
Effect of exchange rates on cash (349) (9)
Net increase (decrease) in cash and cash equivalents 649 (428)
Cash and cash equivalents at beginning of period 4,704 4,988
Cash and cash equivalents at end of period $ 5,353 $ 4,560
[1] In the first quarter of 2014, Corning issued 1,900 shares of Preferred Stock to Samsung Display Co., Ltd. in connection with the acquisition of their equity interests in Samsung Corning Precision Materials Co., Ltd. (Note 10). Corning also issued to Samsung Display an additional amount of Preferred Stock at closing, for an issue price of $400 million in cash (Note 16).