Investments (Tables)

12 Months Ended

Dec. 31, 2019

Investments

	Ownership	December 31,
	interest	2019		2018
Affiliated companies accounted for by the equity ‎  method (1)(2)	20% to 50%	$	291	$	354
Other investments			43		22
Subtotal Investment Assets		$	334	$	376
Affiliated companies accounted for by the equity ‎  method - HSG (1)(2)	50%	$	270
Subtotal Investment Liabilities		$	270

(1)Amounts reflect Corning’s direct ownership interest in the affiliated companies at December 31, 2019 and 2018. Corning does not control these entities.

(2)Hemlock Semiconductor LLC and Hemlock Semiconductor Operations LLC, of which Corning has 49.9% and 40.25% ownership, respectively, are recorded as equity method investments and are affiliated companies of HSG. At December 31, 2019, the negative carrying value of Corning’s investment in HSG was $270 million and recorded in Other Liabilities. At December 31, 2018, the carrying value of the investment in HSG was $42 million and recorded in Investments.

Affiliated Companies [Member]

Results From Operations

	2019		2018		2017
Statement of operations:
Net sales	$	1,508	$	1,759	$	2,346
Gross profit	$	79	$	424	$	560
Net (loss) income	$	(102)	$	835	$	750
Net income attributable to the affiliated companies	$	70	$	798	$	721
Corning’s equity in earnings of affiliated companies	$	17	$	390	$	361
Related party transactions:
Corning sales to affiliated companies	$	277	$	184	$	108
Corning purchases from affiliated companies	$	12	$	11	$	12
Corning transfers of assets, at cost, to affiliated companies	$	8	$	2	$	22
Dividends received from affiliated companies	$	106	$	241	$	201
Intercompany sales within HSG (included in net sales)	$	112	$	206	$	312
	2019		2018
Balance sheet:
Current assets	$	1,566	$	1,716
Noncurrent assets	$	943	$	1,922
Short-term borrowings, including current portion ‎  of long-term debt	$	4	$	8
Other current liabilities	$	632	$	810
Long-term debt	$	68	$	14
Other long-term liabilities	$	1,522	$	1,708
Non-controlling interest	$	42	$	259
Related party transactions:
Balances due from affiliated companies	$	42	$	95
Balances due to affiliated companies	$	4
Intercompany receivables and payables within HSG ‎  (included in current assets and other current liabilities)	$	15	$	39

HSG [Member]

Results From Operations

	2019		2018		2017
Statement of operations:
Net sales	$	779	$	1,158	$	1,716
Gross profit	$	9	$	367	$	469
Net (loss) income	$	(117)	$	814	$	746
Net income attributable to HSG	$	54	$	776	$	706
Corning’s equity in earnings of affiliated companies	$	27	$	388	$	352
Related party transactions:
Dividends received from affiliated companies	$	100	$	241	$	196
Intercompany sales within HSG (included in net sales)	$	112	$	206	$	312
	2019		2018
Balance sheet:
Current assets	$	1,011	$	1,188
Noncurrent assets	$	420	$	1,414
Short-term borrowings, including current portion ‎  of long-term debt	$	3	$	3
Other current liabilities	$	412	$	540
Long-term debt	$	8	$	11
Other long-term liabilities	$	1,507	$	1,708
Non-controlling interest	$	42	$	259
Related party transactions:
Intercompany receivables and payables within HSG ‎  (included in current assets and other current liabilities)	$	15	$	39