Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
Mar. 31, 2022	Mar. 31, 2021
Net sales	$ 3,680	$ 3,290
Cost of sales	2,397	2,134
Gross margin	1,283	1,156
Operating expenses:
Selling, general and administrative expenses	434	400
Research, development and engineering expenses	248	222
Amortization of purchased intangibles	31	32
Operating income	570	502
Interest income	3	3
Interest expense	(71)	(77)
Translated earnings contract gain, net (Note 10)	129	272
Other income, net	130	125
Income before income taxes	761	825
Provision for income taxes (Note 3)	(180)	(226)
Net income attributable to Corning Incorporated	$ 581	$ 599
Earnings per common share available to common shareholders:
Basic (Note 4) (in dollars per share)	$ 0.69	$ 0.75
Diluted (Note 4) (in dollars per share)	$ 0.68	$ 0.67

The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Also included are the engineering expenses that are incurred while working on new product design, capacity, optimization programs, etc for products that are not currently being produced.

No definition available.