Note 9 - Investments

3 Months Ended

Mar. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

9.      Investments

Dow Corning Corporation (“Dow Corning”)

Dow Corning is a U.S.-based manufacturer of silicone products.  Dow Corning’s results of operations follow (in millions):

	Three months ended March 31,
	2016		2015
Statement of Operations:
Net sales	$	1,316	$	1,364
Gross profit (1)	$	350	$	358
Net income attributable to Dow Corning	$	112	$	185
Corning’s equity in earnings of Dow Corning	$	56	$	92

(1) Gross profit for the three months ended March 31, 2016 includes research and development costs of $57 million (2015: $62 million).

Dow Corning’s net income in the first quarter of 2015 includes pre-tax gains on settlements of long-term sales agreements in the amount of $178 million.