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Consolidated Statements of (Loss) Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net sales $ 3,391 $ 3,173 $ 9,617 $ 9,594
Cost of sales 2,254 2,169 6,538 6,574
Gross margin 1,137 1,004 3,079 3,020
Operating expenses:        
Selling, general and administrative expenses 510 468 1,432 1,329
Research, development and engineering expenses 294 270 814 787
Amortization of purchased intangibles 31 30 91 92
Operating income 302 236 742 812
Interest income 12 10 34 25
Interest expense (83) (82) (250) (239)
Translated earnings contract (loss) gain, net (Note 12) (157) 20 (91) 128
Other (loss) income, net (166) 33 (59) 128
(Loss) income before income taxes (92) 217 376 854
Provision for income taxes (Note 4) (3) (35) (124) (178)
Net (loss) income (95) 182 252 676
Net income attributable to non-controlling interest (22) (18) (56) (55)
Net (loss) income attributable to Corning Incorporated $ (117) $ 164 $ 196 $ 621
(Loss) earnings per common share available to common shareholders:        
Basic (Note 5) (in dollars per share) $ (0.14) $ 0.19 $ 0.23 $ 0.73
Diluted (Note 5) (in dollars per share) $ (0.14) $ 0.19 $ 0.23 $ 0.72