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Debt
6 Months Ended
Jun. 30, 2017
Debt [Abstract]  
Debt

3.   Debt



Based on borrowing rates currently available to us for loans with similar terms and maturities, the fair value of long-term debt was $3.6 billion at June 30, 2017 and $3.9 billion at December 31, 2016, compared to recorded book values of $3.3 billion at June 30, 2017 and $3.6 billion at December 31, 2016.  The Company measures the fair value of its long-term debt using Level 2 inputs based primarily on current market yields for its existing debt traded in the secondary market.



Corning did not have outstanding commercial paper at June 30, 2017 and December 31, 2016.