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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net sales $ 3,251 $ 3,243 $ 6,226 $ 6,421
Cost of sales 2,302 2,230 4,284 4,405
Gross margin 949 1,013 1,942 2,016
Operating expenses:        
Selling, general and administrative expenses 471 440 922 861
Research, development and engineering expenses 262 263 520 517
Amortization of purchased intangibles 30 31 60 62
Operating income 186 279 440 576
Interest income 10 8 22 15
Interest expense (84) (81) (167) (157)
Translated earnings contract gain, net (Note 12) 27 116 66 108
Other income, net 33 87 107 95
Income before income taxes 172 409 468 637
Provision for income taxes (Note 4) (50) (106) (121) (143)
Net income 122 303 347 494
Net income attributable to non-controlling interest (18) (22) (34) (37)
Net income attributable to Corning Incorporated $ 104 $ 281 $ 313 $ 457
Earnings per common share available to common shareholders:        
Basic (Note 5) (in dollars per share) $ 0.12 $ 0.33 $ 0.37 $ 0.54
Diluted (Note 5) (in dollars per share) $ 0.12 $ 0.33 $ 0.36 $ 0.53