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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net sales $ 2,047 $ 2,265
Cost of sales 1,283 1,336
Gross margin 764 929
Operating expenses:    
Selling, general and administrative expenses 303 316
Research, development and engineering expenses 190 189
Amortization of purchased intangibles 14 12
Restructuring, impairment and other charges 80  
Operating income 177 412
Equity in earnings of affiliated companies 59 94
Interest income 6 5
Interest expense (41) (30)
Foreign currency hedge (loss) gain, net (894) 42
Other income (expense), net 21 (30)
(Loss) income before income taxes (672) 493
Benefit (provision) for income taxes (Note 5) 304 (86)
Net (loss) income attributable to Corning Incorporated $ (368) $ 407
(Loss) earnings per common share attributable to Corning Incorporated:    
Basic (Note 6) (in Dollars per share) $ (0.36) $ 0.30
Diluted (Note 6) (in Dollars per share) (0.36) 0.29
Dividends declared per common share (1) (in Dollars per share) [1] $ 0.135 $ 0.00
[1] The first quarter 2015 dividend was declared on December 3, 2014.