Note 12 - Other Liabilities

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Other Liabilities Disclosure [Text Block]

12. Other Liabilities

Other liabilities follow (in millions):

	June 30, 2016		December 31, 2015
Current liabilities:
Wages and employee benefits	$	386	$	491
Income taxes		82		53
Asbestos and other litigation reserves		76		238
Derivative instruments		211		55
Other current liabilities		476		471
Other accrued liabilities	$	1,231	$	1,308
Non-current liabilities:
Asbestos and other litigation reserves	$	394	$	440
Derivative instruments		1,400		88
Investment in Hemlock Semiconductor Group  (1)		361
Defined benefit pension plan liabilities		740		672
Other non-current liabilities		1,010		1,042
Other liabilities	$	3,905	$	2,242

(1)   The negative carrying value resulted from a one-time charge to this entity in 2014 for the permanent abandonment of certain assets.

Asbestos Litigation

Corning and PPG each owned 50% of the capital stock of PCC.  Over a period of more than two decades, PCC and several other defendants were named in numerous lawsuits involving claims alleging personal injury from exposure to asbestos.  Refer to Note 3 (Commitments, Contingencies and Guarantees) to the consolidated financial statements for additional information on the asbestos litigation.