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Restructuring, Impairment and Other Charges and Credits
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment and Other Charges and Credits Restructuring, Impairment and Other Charges and Credits
Corning periodically assesses the operating efficiency and cost structure of the Company’s asset base and global workforce and takes appropriate actions to align corporate resources with the business environment.
The following table presents restructuring, impairment and other charges and credits (in millions):
Year ended December 31,
202520242023
Severance (1)
$26 $45 $187 
Capacity optimization23 128 176 
Other charges and credits (2)
 234 108 
Total restructuring, impairment and other charges and credits (3)
$49 $407 $471 
(1)Severance charges in the years ended December 31, 2025, 2024 and 2023 include $1 million, $6 million and $20 million, respectively, in curtailment and special termination benefit charges.
(2)Other charges and credits primarily include disposal costs and inventory write-downs. For the year ended December 31, 2024, other charges and credits include $131 million related to the recognition of non-cash cumulative foreign currency translation losses for the substantial liquidation and disposition of foreign entities.
(3)Amounts impacting gross margin on the consolidated statements of income were $3 million, $211 million and $283 million for the years ended December 31, 2025, 2024 and 2023, respectively.
During the year ended December 31, 2025, Corning recorded $49 million in severance and asset write-offs. As of December 31, 2025, the severance accrual of $25 million was reflected within other accrued liabilities on the consolidated balance sheet and is expected to be substantially paid within the next twelve months.
During the year ended December 31, 2024, Corning recorded $45 million in severance related charges and $128 million in non-cash asset write-offs, primarily associated with the closure of a display manufacturing plant. In addition, the Company recorded $234 million in other charges and credits primarily related to $131 million of non-cash cumulative foreign currency translation losses required to be recognized upon the substantial liquidation or disposition of foreign entities, which was recorded in other (expense) income, net on the consolidated statements of income, and $49 million of non-cash charges in one of our Emerging Growth Businesses relating to a customer that recently entered into a multi-jurisdictional restructuring effort including insolvency filings in certain countries. These charges primarily relate to the full write-down of upfront payments made to the customer, which were determined to be nonrecoverable, and recorded as a charge to net sales on the consolidated statements of income. Remaining activity relates to disposal costs and inventory write-offs associated with the exit of certain facilities and product lines. As of December 31, 2024, the severance accrual of $34 million was reflected within other accrued liabilities on the consolidated balance sheet.
During the year ended December 31, 2023, Corning recorded $471 million in severance, asset write-offs and other related charges. Capacity optimization charges include asset write-offs associated with the exit of certain facilities, product lines and other exit activities primarily within Optical Communications, Specialty Materials and Life Sciences. Severance charges were recorded across all segments.