Note 6 - Earnings (Loss) Per Common Share

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

6. Earnings (Loss) per Common Share

The following table sets forth the computation of basic and diluted earnings (loss) per common share (in millions, except per share amounts):

	Three months ended
	March 31,
	2021		2020
Net income (loss) attributable to Corning Incorporated	$	599	$	(96	)
Less: Series A convertible preferred stock dividend		24		24
Net income (loss) available to common stockholders – basic		575		(120	)
Plus: Series A convertible preferred stock dividend		24
Net income (loss) available to common stockholders – diluted	$	599	$	(120	)
Weighted-average common shares outstanding – basic		766		760
Effect of dilutive securities:
Employee stock options and other dilutive securities		17
Series A convertible preferred stock (1)		115
Weighted-average common shares outstanding – diluted		898		760
Basic earnings (loss) per common share	$	0.75	$	(0.16	)
Diluted earnings (loss) per common share	$	0.67	$	(0.16	)
Anti-dilutive potential shares excluded from diluted earnings (loss) per common share:
Series A convertible preferred stock (1)				115
Employee stock options and awards		1		11
Total		1		126

⁽¹⁾ For the three months ended March 31, 2020, the Series A preferred stock was anti-dilutive; therefore, it was excluded from the calculation of diluted loss per share.