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Note 19 - Reportable Segments - Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net income attributable to Corning Incorporated   $ 1,316 $ 1,906 $ 512
Gain (loss) on foreign currency hedges related to translated earnings   351 354 (38)
Research, development and engineering expenses   1,047 995 1,154
Amortization of intangibles   (123) (129) (121)
Interest expense, net   (292) (300) (276)
Income tax benefit   (411) (491) (111)
Cumulative adjustment related to customer contract $ (105)      
Severance (charges) credits (3)   (70) 13 (148)
Asset impairment   (217)
Operating Segments [Member]        
Net income attributable to Corning Incorporated   2,254 2,296 1,628
Impact of constant currency reporting not included in segment net income (loss) [1]   (616) (38) (44)
Research, development and engineering expenses   874 [2] 838 754
Income tax benefit   615 612 435 [3]
Operating Segments [Member] | Reportable Segments [Member]        
Net income attributable to Corning Incorporated   2,215 2,347 1,842
Operating Segments [Member] | Hemlock and Emerging Growth Businesses [Member]        
Net income attributable to Corning Incorporated [4]   39 (51) (214)
Research, development and engineering expenses [4]   163 [2] 160 170
Income tax benefit [4]   24 (11) (58) [3]
Segment Reconciling Items [Member]        
Net income attributable to Corning Incorporated   1,316 1,906 512
Impact of constant currency reporting not included in segment net income (loss)   (480) (87) (22)
Gain (loss) on foreign currency hedges related to translated earnings   348 354 (46)
Translation gain (loss) on Japanese yen-denominated debt   191 180 (86)
Litigation, regulatory and other legal matters   (100) (16) (144)
Research, development and engineering expenses [5],[6]   (163) (151) (150)
Transaction-related gain, net (4) [7]       498
Amortization of intangibles   (123) (129) (121)
Interest expense, net   (237) (265) (261)
Income tax benefit   204 120 324
Pension mark-to-market   (11) (32) (31)
Cumulative adjustment related to customer contract [8]   (105) [9]
Severance (charges) credits (3) [6]   (70) 13 (148)
Asset impairment [6]       (217)
Capacity realignment and other charges and credits [6]   (344) (123) (462)
Bond redemption loss (6) [10]     (31) (22)
Gain (loss) on investments (7) [11]   8 (23) 107
Gain on sale of business   53 54  
Other corporate items   $ (214) $ (254) $ (230)
[1] This amount primarily represents the impact of foreign currency adjustments in the Display Technologies segment.
[2] Research, development and engineering expenses include direct project spending that is identifiable to a segment.
[3] Income tax (provision) benefit reflects a tax rate of 21%.
[4] Corning obtained a controlling interest in HSG during the third quarter of 2020 and has consolidated results in Hemlock and Emerging Growth Businesses since September 9, 2020. Refer to Note 3 (HSG Transactions and Acquisitions) in the notes to the consolidated financial statements for additional information.
[5] Amount does not include research, development, and engineering expense related to restructuring, impairment and other charges and credits.
[6] Refer to Note 2 (Restructuring, Impairment and Other Charges and Credits) to the consolidated financial statements for additional information on restructuring activities and impairment.
[7] Amount represents the pre-tax gain recorded on Corning’s previously held equity investment in HSG recorded in 2020. Refer to Note 4 (HSG Transactions and Acquisitions) to the consolidated financial statements for additional information on this transaction.
[8] Amount represents the negative impact of a cumulative adjustment recorded during the first quarter of 2020 to reduce revenue in the amount of $105 million. The adjustment was associated with a previously recorded commercial benefit asset, reflected as a prepayment, to a customer with a long-term supply agreement that substantially exited its production of LCD panels.
[9] Amount represents the negative impact of a cumulative adjustment to reduce revenue in the amount of $105 million recorded during the first quarter of 2020. The adjustment was associated with a previously recorded commercial benefit asset, reflected as a prepayment, to a customer with a long-term supply agreement that substantially exited its production of LCD panels.
[10] Refer to Note 11 (Debt) in the notes to the consolidated financial statements for additional information.
[11] Amount for the year ended December 31, 2020 primarily represents the gain recognized from the initial public offering of an investment.