Note 6 - Earnings Per Common Share

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

6.      Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per common share (in millions, except per share amounts):

	Three months ended June 30,				Six months ended June 30,
	2016		2015		2016		2015
Net income attributable to Corning Incorporated	$	2,207	$	496	$	1,839	$	903
Less:  Series A convertible preferred stock dividend		24		24		49		49
Net income available to common stockholders - basic		2,183		472		1,790		854
Plus:  Series A convertible preferred stock dividend		24		24		49		49
Net income available to common stockholders - diluted	$	2,207	$	496	$	1,839	$	903
Weighted-average common shares outstanding - basic		1,059		1,246		1,081		1,257
Effect of dilutive securities:
Stock options and other dilutive securities		8		10		8		11
Series A convertible preferred stock		115		115		115		115
Weighted-average common shares outstanding - diluted		1,182		1,371		1,204		1,383
Basic earnings per common share	$	2.06	$	0.38	$	1.66	$	0.68
Diluted earnings per common share	$	1.87	$	0.36	$	1.53	$	0.65
Antidilutive potential shares excluded from diluted earnings per common share:
Employee stock options and awards		20		20		21		17
Total		20		20		21		17