(Loss) Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

(Loss) Earnings Per Common Share [Abstract]

(Loss) Earnings Per Common Share

8. (Loss) Earnings per Common Share

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

	Three months ended				Six months ended
	June 30,				June 30,
	2020		2019		2020		2019
Net (loss) income attributable to Corning Incorporated	$	(71)	$	92	$	(167)	$	591
Less: Series A convertible preferred stock dividend		25		24		49		49
Net (loss) income available to common stockholders – basic		(96)		68		(216)		542
Plus: Series A convertible preferred stock dividend								49
Net (loss) income available to common stockholders – diluted	$	(96)	$	68	$	(216)	$	591
Weighted-average common shares outstanding – basic		759		781		760		782
Effect of dilutive securities:
Employee stock options and other dilutive securities				8				9
Series A convertible preferred stock (1)								115
Weighted-average common shares outstanding – diluted		759		789		760		906
Basic (loss) earnings per common share	$	(0.13)	$	0.09	$	(0.28)	$	0.69
Diluted (loss) earnings per common share	$	(0.13)	$	0.09	$	(0.28)	$	0.65
Anti-dilutive potential shares excluded from ‎  diluted (loss) earnings per common share:
Series A convertible preferred stock (1)		115		115		115
Employee stock options and awards		38		2		38		2
Total		153		117		153		2

(1)For the three months ended June 30, 2020 and 2019, and the six months ended June 30, 2020, the Series A preferred stock was anti-dilutive; therefore, it was excluded from the calculation of diluted (loss) earnings per share.