Note 12 - Shareholders' Equity

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Equity [Text Block]

12. Shareholders’ Equity

On May 2, 2024, Corning's Board of Directors declared a $0.28 per share common stock dividend.

Share Repurchase Program

In 2019, the Board authorized the repurchase of up to $5.0 billion of common stock (“2019 Authorization”). As of March 31, 2024, approximately $3.3 billion remains available under the Company’s 2019 Authorization.

No shares were repurchased under our 2019 Authorization during the three months ended March 31, 2024 and 2023.

Accumulated Other Comprehensive Loss

For the three months ended March 31, 2024 and 2023, the change in accumulated other comprehensive loss was primarily related to the foreign currency translation adjustments.

The following table presents the changes in the foreign currency translation adjustment component of accumulated other comprehensive loss, including the proportionate share of equity method affiliates’ accumulated other comprehensive loss (in millions):

	Three months ended
	March 31,
	2024			2023
Beginning balance	$	(1,942	)	$	(1,712	)
Loss on foreign currency translation, net of tax benefit - $23 and $16		(331	)		(83	)
Equity method affiliates		1			(1	)
Net current-period other comprehensive loss, net of tax		(330	)		(84	)
Ending balance	$	(2,272	)	$	(1,796	)