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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 1,671 $ 2,148
Trade accounts receivable, net of doubtful accounts - $40 and $42 1,721 2,004
Inventories (Note 5) 2,904 2,481
Other current assets (Notes 10 and 14) 1,157 1,026
Total current assets 7,453 7,659
Property, plant and equipment, net (3) [1] 15,371 15,804
Goodwill, net (Note 9) 2,394 2,421
Other intangible assets, net (Note 9) 1,029 1,148
Deferred tax assets 1,073 1,066
Other non-current assets (4) 2,179 2,056
Total Assets 29,499 30,154
Current liabilities:    
Current portion of long-term debt and short-term borrowings (Note 11) 224 55
Accounts payable 1,804 1,612
Other accrued liabilities (Notes 10 and 13) 3,147 3,139
Total current liabilities 5,175 4,806
Long-term debt 6,687 6,989
Postretirement benefits other than pensions (Note 12) 407 622
Other liabilities (Notes 10 and 13) 4,955 5,192
Total liabilities 17,224 17,609
Commitments and contingencies (Note 13)
Shareholders’ equity (Note 16):    
Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1.8 billion and 1.8 billion 910 907
Additional paid-in capital – common stock 16,682 16,475
Retained earnings 16,778 16,389
Treasury stock, at cost; Shares held: 977 million and 970 million (20,532) (20,263)
Accumulated other comprehensive loss (1,830) (1,175)
Total Corning Incorporated shareholders’ equity 12,008 12,333
Non-controlling interest 267 212
Total equity 12,275 12,545
Total Liabilities and Equity $ 29,499 $ 30,154
[1] Approximately $48 million $36 million and $58 million of interest costs were capitalized as part of property, plant and equipment during the years ended December 31, 2022, 2021 and 2020, respectively.