XML 109 R132.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 20 - Reportable Segments (Details) - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Net Income $ 988us-gaap_NetIncomeLoss $ 1,014us-gaap_NetIncomeLoss $ 169us-gaap_NetIncomeLoss $ 301us-gaap_NetIncomeLoss $ 421us-gaap_NetIncomeLoss $ 408us-gaap_NetIncomeLoss $ 638us-gaap_NetIncomeLoss $ 494us-gaap_NetIncomeLoss $ 2,472us-gaap_NetIncomeLoss $ 1,961us-gaap_NetIncomeLoss $ 1,636us-gaap_NetIncomeLoss
Unallocated amounts:                      
Net financing costs (1)                 (113)glw_ReconciliationOfNetFinancingCosts [1] (66)glw_ReconciliationOfNetFinancingCosts [1] (196)glw_ReconciliationOfNetFinancingCosts [1]
Stock-based compensation expense                 (58)glw_ReconciliationOfStockBasedCompensationExpense (54)glw_ReconciliationOfStockBasedCompensationExpense (70)glw_ReconciliationOfStockBasedCompensationExpense
Exploratory research                 (102)glw_ReconciliationOfExploratoryResearch (112)glw_ReconciliationOfExploratoryResearch (89)glw_ReconciliationOfExploratoryResearch
Corporate contributions                 (43)glw_ReconciliationOfCorporateContributions (42)glw_ReconciliationOfCorporateContributions (44)glw_ReconciliationOfCorporateContributions
Equity in earnings of affiliated companies, net of impairments (2)                 269glw_EquityInEarningsOfAffiliatedCompaniesNetOfImpairments [2] 207glw_EquityInEarningsOfAffiliatedCompaniesNetOfImpairments [2] 82glw_EquityInEarningsOfAffiliatedCompaniesNetOfImpairments [2]
Asbestos settlement                 (13)glw_ReconciliationOfAsbestosSettlementCreditCharge (19)glw_ReconciliationOfAsbestosSettlementCreditCharge (14)glw_ReconciliationOfAsbestosSettlementCreditCharge
Purchased collars and average rate forward contracts                 639glw_DerivativeGainLossOnDerivativeNetOfTax 197glw_DerivativeGainLossOnDerivativeNetOfTax  
Other corporate items (3)                 118glw_ReconciliationOfOtherCorporateItems [3] 157glw_ReconciliationOfOtherCorporateItems [3] 53glw_ReconciliationOfOtherCorporateItems [3]
Reportable Segments [Member]                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Net Income                 1,971us-gaap_NetIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= glw_ReportableSegments1Member
1,856us-gaap_NetIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= glw_ReportableSegments1Member
2,012us-gaap_NetIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= glw_ReportableSegments1Member
Non Reportable Segments [Member]                      
Segment Reporting, Revenue Reconciling Item [Line Items]                      
Net Income                 $ (196)us-gaap_NetIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= glw_NonReportableSegmentsMember
$ (163)us-gaap_NetIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= glw_NonReportableSegmentsMember
$ (98)us-gaap_NetIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= glw_NonReportableSegmentsMember
[1] Net financing costs include interest expense, interest income, and interest costs and investment gains and losses associated with benefit plans.
[2] Equity in earnings of affiliated companies is primarily equity in earnings of Dow Corning, which includes the following items: In 2014, Dow Corning's net income includes an after-tax gain of $365 million from the reduction of the Implant Liability, an after-tax gain on a derivative instrument of $29 million, foreign tax credits of approximately $99 million, and an energy tax credit of approximately $13 million, offset partially by the after-tax charge of $432 million for the abandonment of a polycrystalline silicon plant expansion. In 2013, gains in the amount of approximately $30 million for the resolution of contract disputes against customers relating to enforcement of long-term supply agreements and $16 million for the positive impact of the settlement of a derivative, along with a charge of $4 million related to the impact of a tax valuation allowance. Also included are restructuring charges in the amount of $11 million. In 2012, restructuring and impairment charges in the amount of $87 million for our share of a charge related to workforce reductions and asset write-offs at Dow Corning, and a $10 million credit for Corning's share of Dow Corning's settlement of a dispute related to long term supply agreements.
[3] Other corporate items include the tax impact of the unallocated amounts, excluding purchased collars and average rate forward contracts, and the following significant items: In 2014, Corning recorded $150 million from changes in deferred tax valuation allowances and $46 million of tax expense related to out-of-period transfer pricing adjustments. In 2013, Corning recorded a $54 million tax benefit for the impact of the American Taxpayer Relief Act enacted on January 3, 2013 and made retroactive to 2012. In 2012, Corning recorded a $52 million translation gain on the liquidation of a foreign subsidiary; a loss of $26 million ($17 million after tax) from the repurchase of $13 million principal amount of our 8.875% senior unsecured notes due 2021, $11 million of our 8.875% senior unsecured notes due 2016, and $51 million principal amount of our 6.75% senior unsecured notes due 2013; and a $37 million tax expense resulting from the delay of the passage of the American Taxpayer Relief Act of 2012 until January 2013, that was reversed in the first quarter of 2013.