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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net sales [1] $ 9,390,000 $ 9,111,000 $ 9,715,000
Cost of sales 5,644,000 5,458,000 5,663,000
Gross margin 3,746,000 3,653,000 4,052,000
Operating expenses:      
Selling, general and administrative expenses 1,472,000 1,508,000 1,202,000
Research, development and engineering expenses 742,000 769,000 815,000
Amortization of purchased intangibles 64,000 54,000 33,000
Restructuring, impairment and other charges (Note 2) 77,000 0 71,000
Operating income 1,391,000 1,322,000 1,931,000
Equity in earnings of affiliated companies (Note 7) 284,000 299,000 266,000
Interest income 32,000 21,000 26,000
Interest expense (159,000) (140,000) (123,000)
Transaction-related gain, net (Note 8) 74,000
Translated earnings contract (loss) gain, net (448,000) 80,000 1,369,000
Gain on realignment of equity investment 2,676,000
Other (expense) income, net (84,000) (96,000) 25,000
Income before income taxes 3,692,000 1,486,000 3,568,000
Benefit (provision) for income taxes (Note 6) 3,000 (147,000) (1,096,000)
Net income attributable to Corning Incorporated $ 3,695,000 $ 1,339,000 $ 2,472,000
Earnings per common share attributable to Corning Incorporated:      
Basic (Note 18) (in dollars per share) $ 3.53 $ 1.02 $ 1.82
Diluted (Note 18) (in dollars per share) 3.23 1 1.73
Dividends declared per common share (1) (in dollars per share) [2] $ 0.54 $ 0.36 $ 0.52
[1] Net sales are attributed to countries based on location of customer.
[2] The first quarter 2015 dividend was declared on December 3, 2014.