Financial Statements for Corning Incorporated

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Corning Incorporated financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	1,814.00	2,146.00	2,038.00	1,908.00	1,920.00
Other Revenue, Total	-	-	-	-	-
Total Revenue	1,814.00	2,146.00	2,038.00	1,908.00	1,920.00
Cost of Revenue, Total	1,044.00	1,239.00	1,159.00	1,111.00	1,106.00
Gross Profit	770.00	907.00	879.00	797.00	814.00
Selling/General/Admin. Expenses, Total	259.00	301.00	294.00	291.00	279.00
Research & Development	178.00	185.00	185.00	188.00	187.00
Depreciation/Amortization	7.00	6.00	4.00	4.00	5.00
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	2.00	138.00	3.00	5.00	1.00
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	1,490.00	1,869.00	1,645.00	1,599.00	1,578.00
Operating Income	324.00	277.00	393.00	309.00	342.00
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	65.00	110.00	-15.00	-13.00	1.00
Income Before Tax	528.00	381.00	608.00	555.00	573.00
Income After Tax	494.00	283.00	521.00	462.00	462.00
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	494.00	283.00	521.00	462.00	462.00
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	494.00	283.00	521.00	462.00	462.00
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	494.00	283.00	521.00	462.00	462.00
Income Available to Common Incl. Extra Items	494.00	283.00	521.00	462.00	462.00
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	0.00	0.00	0.00
Diluted Weighted Average Shares	1,481.00	1,482.00	1,494.00	1,518.00	1,530.00
Diluted EPS Excluding Extraordinary Items	0.33	0.19	0.35	0.30	0.30
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.09	0.10	0.07	0.07	0.07
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.33	0.26	0.35	0.31	0.30

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	8,012.00	7,890.00	6,632.00	5,395.00
Other Revenue, Total	-	-	-	-
Total Revenue	8,012.00	7,890.00	6,632.00	5,395.00
Cost of Revenue, Total	4,615.00	4,324.00	3,583.00	3,302.00
Gross Profit	3,397.00	3,566.00	3,049.00	2,093.00
Selling/General/Admin. Expenses, Total	1,165.00	1,033.00	1,015.00	881.00
Research & Development	745.00	671.00	603.00	563.00
Depreciation/Amortization	19.00	15.00	8.00	10.00
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	173.00	153.00	-348.00	248.00
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	6,717.00	6,196.00	4,861.00	5,004.00
Operating Income	1,295.00	1,694.00	1,771.00	391.00
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	0.00
Other, Net	-79.00	158.00	236.00	235.00
Income Before Tax	2,117.00	3,213.00	3,845.00	1,936.00
Income After Tax	1,728.00	2,805.00	3,558.00	2,010.00
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	1,728.00	2,805.00	3,558.00	2,010.00
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	1,728.00	2,805.00	3,558.00	2,010.00
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	1,728.00	2,805.00	3,558.00	2,010.00
Income Available to Common Incl. Extra Items	1,728.00	2,805.00	3,558.00	2,010.00
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	1,506.00	1,583.00	1,581.00	1,568.00
Diluted EPS Excluding Extraordinary Items	1.15	1.77	2.25	1.28
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.32	0.23	0.20	0.20
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	1.24	1.83	2.05	1.38

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	4,797.00	4,988.00	4,952.00	5,008.00	5,490.00
Short Term Investments	978.00	1,156.00	1,399.00	1,337.00	1,346.00
Cash and Short Term Investments	5,775.00	6,144.00	6,351.00	6,345.00	6,836.00
Accounts Receivable - Trade, Net	1,243.00	1,302.00	1,248.00	1,157.00	1,108.00
Receivables - Other	-	-	-	-	-
Total Receivables, Net	1,243.00	1,302.00	1,248.00	1,157.00	1,108.00
Total Inventory	1,171.00	1,051.00	1,003.00	999.00	955.00
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	1,080.00	1,198.00	914.00	877.00	902.00
Total Current Assets	9,269.00	9,695.00	9,516.00	9,378.00	9,801.00
Property/Plant/Equipment, Total - Gross	-	-	18,781.00	18,237.00	17,583.00
Accumulated Depreciation, Total	-	-	-7,745.00	-7,486.00	-7,210.00
Goodwill, Net	-	-	664.00	663.00	665.00
Intangibles, Net	1,485.00	1,496.00	248.00	253.00	257.00
Long Term Investments	4,726.00	4,915.00	5,172.00	4,870.00	4,554.00
Other Long Term Assets, Total	2,944.00	2,644.00	2,774.00	2,839.00	2,839.00
Total Assets	28,595.00	29,375.00	29,410.00	28,754.00	28,489.00
Accounts Payable	762.00	779.00	901.00	929.00	847.00
Accrued Expenses	959.00	1,101.00	956.00	934.00	907.00
Notes Payable/Short Term Debt	-	-	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	74.00	76.00	130.00	29.00	27.00
Other Current liabilities, Total	-	-	-	-	-
Total Current Liabilities	1,795.00	1,956.00	1,987.00	1,892.00	1,781.00
Long Term Debt	2,855.00	3,382.00	3,272.00	3,229.00	3,135.00
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	2,855.00	3,382.00	3,272.00	3,229.00	3,135.00
Total Debt	2,929.00	3,458.00	3,402.00	3,258.00	3,162.00
Deferred Income Tax	-	-	-	-	-
Minority Interest	46.00	47.00	47.00	48.00	50.00
Other Liabilities, Total	2,555.00	2,504.00	2,265.00	2,231.00	2,206.00
Total Liabilities	7,251.00	7,889.00	7,571.00	7,400.00	7,172.00
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	826.00	825.00	824.00	823.00	822.00
Additional Paid-In Capital	13,167.00	13,146.00	13,118.00	13,096.00	13,077.00
Retained Earnings (Accumulated Deficit)	10,262.00	9,932.00	10,438.00	10,029.00	9,679.00
Treasury Stock - Common	-2,779.00	-2,773.00	-2,646.00	-2,458.00	-2,121.00
Other Equity, Total	-132.00	356.00	105.00	-136.00	-140.00
Total Equity	21,344.00	21,486.00	21,839.00	21,354.00	21,317.00
Total Liabilities & Shareholders' Equity	28,595.00	29,375.00	29,410.00	28,754.00	28,489.00
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	1,473.00	1,470.00	1,478.00	1,490.00	1,515.00

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	4,988.00	4,661.00	4,598.00	2,541.00
Short Term Investments	1,156.00	1,164.00	1,752.00	1,042.00
Cash and Short Term Investments	6,144.00	5,825.00	6,350.00	3,583.00
Accounts Receivable - Trade, Net	1,302.00	1,082.00	973.00	753.00
Receivables - Other	-	-	-	-
Total Receivables, Net	1,302.00	1,082.00	973.00	753.00
Total Inventory	1,051.00	975.00	738.00	579.00
Prepaid Expenses	-	-	-	-
Other Current Assets, Total	1,198.00	795.00	798.00	606.00
Total Current Assets	9,695.00	8,677.00	8,859.00	5,521.00
Property/Plant/Equipment, Total - Gross	18,277.00	17,875.00	15,363.00	13,498.00
Accumulated Depreciation, Total	-7,652.00	-7,204.00	-6,420.00	-5,503.00
Goodwill, Net	974.00	664.00	537.00	509.00
Intangibles, Net	522.00	262.00	179.00	167.00
Long Term Investments	4,915.00	4,726.00	4,372.00	3,992.00
Other Long Term Assets, Total	2,644.00	2,848.00	2,943.00	3,111.00
Total Assets	29,375.00	27,848.00	25,833.00	21,295.00
Accounts Payable	779.00	977.00	798.00	550.00
Accrued Expenses	806.00	805.00	923.00	710.00
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	76.00	27.00	57.00	74.00
Other Current liabilities, Total	295.00	288.00	208.00	205.00
Total Current Liabilities	1,956.00	2,097.00	1,986.00	1,539.00
Long Term Debt	3,382.00	2,364.00	2,262.00	1,930.00
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	3,382.00	2,364.00	2,262.00	1,930.00
Total Debt	3,458.00	2,391.00	2,319.00	2,004.00
Deferred Income Tax	-	-	-	-
Minority Interest	47.00	51.00	51.00	52.00
Other Liabilities, Total	2,504.00	2,258.00	2,159.00	2,231.00
Total Liabilities	7,889.00	6,770.00	6,458.00	5,752.00
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	825.00	818.00	813.00	808.00
Additional Paid-In Capital	13,146.00	13,041.00	12,865.00	12,707.00
Retained Earnings (Accumulated Deficit)	10,588.00	9,332.00	6,881.00	3,636.00
Treasury Stock - Common	-2,773.00	-2,024.00	-1,227.00	-1,207.00
Other Equity, Total	-302.00	-31.00	99.00	-401.00
Total Equity	21,486.00	21,078.00	19,375.00	15,543.00
Total Liabilities & Shareholders' Equity	29,375.00	27,848.00	25,833.00	21,295.00
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	1,470.00	1,515.00	1,561.00	1,553.00

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	494.00	1,728.00	1,445.00	924.00	462.00
Depreciation/Depletion	248.00	978.00	717.00	473.00	235.00
Amortization	7.00	19.00	13.00	9.00	5.00
Deferred Taxes	-30.00	68.00	44.00	21.00	47.00
Non-Cash Items	-2.00	530.00	-84.00	51.00	258.00
Changes in Working Capital	-94.00	-117.00	-169.00	-146.00	-245.00
Cash from Operating Activities	623.00	3,206.00	1,966.00	1,332.00	762.00
Capital Expenditures	-194.00	-1,801.00	-1,275.00	-853.00	-412.00
Other Investing Cash Flow Items, Total	72.00	-827.00	-346.00	-286.00	-192.00
Cash from Investing Activities	-122.00	-2,628.00	-1,621.00	-1,139.00	-604.00
Financing Cash Flow Items	-	-16.00	-18.00	-18.00	-18.00
Total Cash Dividends Paid	-133.00	-472.00	-339.00	-227.00	-114.00
Issuance (Retirement) of Stock, Net	12.00	-682.00	-554.00	-367.00	-56.00
Issuance (Retirement) of Debt, Net	-508.00	1,055.00	1,005.00	872.00	780.00
Cash from Financing Activities	-629.00	-115.00	94.00	260.00	592.00
Foreign Exchange Effects	-63.00	-136.00	-148.00	-106.00	79.00
Net Change in Cash	-191.00	327.00	291.00	347.00	829.00
Cash Interest Paid, Supplemental	-	178.00	-	-	-
Cash Taxes Paid, Supplemental	-	355.00	-	-	-

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	1,728.00	2,805.00	3,558.00	2,008.00
Depreciation/Depletion	978.00	942.00	846.00	782.00
Amortization	19.00	15.00	8.00	10.00
Deferred Taxes	68.00	115.00	68.00	-218.00
Non-Cash Items	530.00	-254.00	-525.00	-657.00
Changes in Working Capital	-117.00	-434.00	-120.00	152.00
Cash from Operating Activities	3,206.00	3,189.00	3,835.00	2,077.00
Capital Expenditures	-1,801.00	-2,432.00	-1,007.00	-890.00
Other Investing Cash Flow Items, Total	-827.00	376.00	-762.00	-480.00
Cash from Investing Activities	-2,628.00	-2,056.00	-1,769.00	-1,370.00
Financing Cash Flow Items	-16.00	-	-	3.00
Total Cash Dividends Paid	-472.00	-354.00	-313.00	-312.00
Issuance (Retirement) of Stock, Net	-682.00	-690.00	70.00	44.00
Issuance (Retirement) of Debt, Net	1,055.00	64.00	241.00	250.00
Cash from Financing Activities	-115.00	-980.00	-2.00	-15.00
Foreign Exchange Effects	-136.00	-90.00	-7.00	-24.00
Net Change in Cash	327.00	63.00	2,057.00	668.00
Cash Interest Paid, Supplemental	178.00	140.00	125.00	116.00
Cash Taxes Paid, Supplemental	355.00	215.00	170.00	164.00