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Reportable Segments (Tables)
 9 Months Ended
Sep. 30, 2018
Reportable Segments [Abstract]  
Reportable Segments







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Display

 

Optical

 

Specialty

 

Environmental

 

Life

 

All

 

 

 



 

Technologies

 

Communications

 

Materials

 

Technologies

 

Sciences

 

Other

 

Total

Three months ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment net sales

 

$

 852 

 

$

 1,117 

 

$

 459 

 

$

 331 

 

$

 231 

 

$

 55 

 

$

 3,045 

Depreciation (1)

 

$

 146 

 

$

 55 

 

$

 34 

 

$

 30 

 

$

 12 

 

$

 10 

 

$

 287 

Research, development and
   engineering expenses (2)

 

$

 26 

 

$

 53 

 

$

 43 

 

$

 28 

 

$

 5 

 

$

 58 

 

$

 213 

Income tax (provision)
   benefit

 

$

 (57)

 

$

 (46)

 

$

 (31)

 

$

 (16)

 

$

 (8)

 

$

 19 

 

$

 (139)

Segment net income (loss) (3)

 

$

 218 

 

$

 168 

 

$

 116 

 

$

 60 

 

$

 30 

 

$

 (72)

 

$

 520 









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Display

 

Optical

 

Specialty

 

Environmental

 

Life

 

All

 

 

 



 

Technologies

 

Communications

 

Materials

 

Technologies

 

Sciences

 

Other

 

Total

Three months ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment net sales

 

$

 795 

 

$

 917 

 

$

 373 

 

$

 277 

 

$

 223 

 

$

 50 

 

$

 2,635 

Depreciation (1)

 

$

 134 

 

$

 49 

 

$

 34 

 

$

 31 

 

$

 14 

 

$

 12 

 

$

 274 

Research, development and
   engineering expenses (2)

 

$

 21 

 

$

 44 

 

$

 38 

 

$

 28 

 

$

 6 

 

$

 53 

 

$

 190 

Income tax (provision)
   benefit

 

$

 (56)

 

$

 (35)

 

$

 (22)

 

$

 (11)

 

$

 (7)

 

$

 17 

 

$

 (114)

Segment net income (loss) (3)

 

$

 211 

 

$

 132 

 

$

 86 

 

$

 40 

 

$

 25 

 

$

 (64)

 

$

 430 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Display

 

Optical

 

Specialty

 

Environmental

 

Life

 

All

 

 

 



 

Technologies

 

Communications

 

Materials

 

Technologies

 

Sciences

 

Other

 

Total

Nine Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment net sales

 

$

 2,377 

 

$

 3,026 

 

$

 1,080 

 

$

 970 

 

$

 708 

 

$

 156 

 

$

 8,317 

Depreciation (1)

 

$

 436 

 

$

 160 

 

$

 102 

 

$

 89 

 

$

 39 

 

$

 31 

 

$

 857 

Research, development and
   engineering expenses (2)

 

$

 76 

 

$

 153 

 

$

 123 

 

$

 86 

 

$

 15 

 

$

 174 

 

$

 627 

Income tax (provision)
   benefit

 

$

 (157)

 

$

 (117)

 

$

 (60)

 

$

 (44)

 

$

 (23)

 

$

 60 

 

$

 (341)

Segment net income (loss) (3)

 

$

 595 

 

$

 427 

 

$

 226 

 

$

 166 

 

$

 88 

 

$

 (224)

 

$

 1,278 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Display

 

Optical

 

Specialty

 

Environmental

 

Life

 

All

 

 

 



 

Technologies

 

Communications

 

Materials

 

Technologies

 

Sciences

 

Other

 

Total

Nine Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment net sales

 

$

 2,354 

 

$

 2,617 

 

$

 1,010 

 

$

 815 

 

$

 654 

 

$

 133 

 

$

 7,583 

Depreciation (1)

 

$

 393 

 

$

 142 

 

$

 94 

 

$

 93 

 

$

 39 

 

$

 34 

 

$

 795 

Research, development and
   engineering expenses (2)

 

$

 63 

 

$

 121 

 

$

 111 

 

$

 80 

 

$

 18 

 

$

 157 

 

$

 550 

Income tax (provision)
   benefit

 

$

 (180)

 

$

 (100)

 

$

 (56)

 

$

 (33)

 

$

 (19)

 

$

 48 

 

$

 (340)

Segment net income (loss) (3)

 

$

 682 

 

$

 370 

 

$

 213 

 

$

 122 

 

$

 71 

 

$

 (186)

 

$

 1,272 



(1)

Depreciation expense for Corning’s reportable segments includes an allocation of depreciation of corporate property not specifically identifiable to a segment.

(2)

Research, development and engineering expenses include direct project spending that is identifiable to a segment.

(3)

Many of Corning’s administrative and staff functions are performed on a centralized basis.  Where practicable, Corning charges these expenses to segments based upon the extent to which each business uses a centralized function.  Other staff functions, such as corporate finance, human resources and legal, are allocated to segments, primarily as a percentage of sales.  Expenses that are not allocated to the segments are included in the reconciliation of reportable segment net income to consolidated net income below.
Reconciliation of Reportable Segment and All Other Net Sales to Consolidated Net Sales)





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three months ended

 

Nine months ended



 

September 30,

 

September 30,



 

2018

 

2017

 

2018

 

2017

Net sales of reportable segments and All Other

 

$

 3,045 

 

$

 2,635 

 

$

 8,317 

 

$

 7,583 

     Impact of foreign currency movements (1)

 

 

 (37)

 

 

 (28)

 

 

 (62)

 

 

 (104)

Net sales

 

$

 3,008 

 

$

 2,607 

 

$

 8,255 

 

$

 7,479 



(1)This amount primarily represents the impact of foreign currency adjustments in the Display Technologies segment.

Reconciliation of Reportable Segment Net Income to Consolidated Net Income





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three months ended

 

Nine months ended



 

September 30,

 

September 30,



 

2018

 

2017

 

2018

 

2017

Net income of reportable segments

 

$

 592 

 

$

 494 

 

$

 1,502 

 

$

 1,458 

Net loss of All Other

 

 

 (72)

 

 

 (64)

 

 

 (224)

 

 

 (186)

Unallocated amounts:

 

 

 

 

 

 

 

 

 

 

 

 

   Impact of foreign currency movements

 

 

 (42)

 

 

 (34)

 

 

 (110)

 

 

 (124)

   Gain (loss) on foreign currency hedges
      related to translated earnings

 

 

 230 

 

 

 26 

 

 

 66 

 

 

 (193)

   Translation gain on Japanese yen-denominated debt

 

 

 30 

 

 

 14 

 

 

 28 

 

 

 14 

   Litigation, regulatory and other legal matters

 

 

 (11)

 

 

 

 

 

 (143)

 

 

 12 

   Research, development, and engineering expense

 

 

 (31)

 

 

 (25)

 

 

 (99)

 

 

 (72)

   Equity in earnings of affiliated companies (1)

 

 

 31 

 

 

 29 

 

 

 100 

 

 

 139 

   Amortization of intangibles

 

 

 (27)

 

 

 (18)

 

 

 (68)

 

 

 (53)

   Interest expense, net

 

 

 (38)

 

 

 (27)

 

 

 (111)

 

 

 (79)

   Income tax benefit (provision)

 

 

 6 

 

 

 25 

 

 

 (42)

 

 

 164 

   Other corporate items 

 

 

 (43)

 

 

 (30)

 

 

 (125)

 

 

 (165)

Net income

 

$

 625 

 

$

 390 

 

$

 774 

 

$

 915 



(1)

Primarily represents the equity earnings of HSG.