XML 20 R10.htm IDEA: XBRL DOCUMENT v3.25.1
Revenue
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregated Revenue
The following table presents revenues by product category (in millions):
Three months ended
March 31,
20252024
Optical communications products$1,355 $930 
Display products704 632 
Specialty materials products495 450 
Automotive products426 463 
Life sciences products228 225 
Polycrystalline silicon products206 216 
All other products38 59 
Total revenue$3,452 $2,975 
Customer Deposits
As of March 31, 2025 and December 31, 2024, Corning had customer deposits of approximately $1.1 billion. Most of these customer deposits were non-refundable and allowed customers to secure rights to products produced under long-term supply agreements, generally over a period of up to ten years. As products are delivered to customers, Corning will recognize revenue and reduce the amount of the customer deposit liability.
For the three months ended March 31, 2025 and 2024, customer deposits recognized were $62 million and $80 million, respectively.
Refer to Note 6 (Other Liabilities) for additional information.
Deferred Revenue
As of March 31, 2025 and December 31, 2024, Corning had deferred revenue of approximately $804 million and $833 million, respectively. Deferred revenue was primarily related to the performance obligations of non-refundable consideration previously received by HSG from its customers under long-term supply agreements.
Deferred revenue is tracked on a per-customer contract-unit basis. As customers take delivery of the committed volumes under the terms of the contract, a per-unit amount of deferred revenue is recognized when control of the promised goods is transferred to the customer based upon the units delivered compared to the remaining contractual units. For the three months ended March 31, 2025 and 2024, the amount of deferred revenue recognized in the consolidated statements of income was not material.
Refer to Note 6 (Other Liabilities) for additional information.