HSG Transactions (Tables)

9 Months Ended

Sep. 30, 2020



Fair value of previously held equity investment	$	250
Equity investment liability balance as of acquisition date		(248)
Corning's gain on previously held equity investment	$	498

Recognized Amounts of Identified Assets Acquired and Liabilities Assumed



Inventory	$	503
Property, plant and equipment		657
Intangible assets		285
Other current and non-current assets (1)		166
Short-term borrowings		(178)
Trade payables and other accrued liabilities		(322)
Other liabilities		(1,254)
Total identified net liabilities		(143)
Non-controlling interests (2)		(102)
Total fair value of Corning's previously held equity investment (2)		(250)
Goodwill (3)	$	495

(1)The other current and non-current assets included a contingent consideration asset of $20 million at fair value for a cost adjustment contract related to the TCS Transaction. Refer to Note 3 (Investments), Note 4 (HSG Transactions) and Note 15 (Fair Value Measurements) to the consolidated financial statements for additional information.

(2)The purchase price being used to measure the goodwill of the Redemption is $352 million, including the fair value of Corning’s previously held equity interest and non-controlling interest, in the amount of $250 million and $102 million, respectively.

(3)The goodwill recognized is not deductible for U.S. income tax purposes. The goodwill was allocated to “All Other” within segment reporting as disclosed in Note 18 (Reportable Segments) to the consolidated financial statements for more information.