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CORNING INC   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Sales11,303.0011,503.0011,290.0010,116.009,390.009,111.009,715.007,819.008,012.007,890.00
Total Revenues11,303.0011,503.0011,290.0010,116.009,390.009,111.009,715.007,819.008,012.007,890.00
Cost of sales7,772.007,468.006,829.006,096.005,627.005,458.005,663.004,495.004,693.004,314.00
Gross Profit3,531.004,035.004,461.004,020.003,763.003,653.004,052.003,324.003,319.003,576.00
Amortization of goodwill--------------------
Amortization of purchased intangibles121.00113.0094.0075.0064.0054.0033.0031.0019.0015.00
Research, development and engineering expenses1,154.001,031.00993.00864.00736.00769.00815.00710.00769.00668.00
Selling, general and administrative expense1,747.001,585.001,799.001,473.001,462.001,508.001,202.001,126.001,205.001,028.00
Restructuring, impairment and other charges--------77.00--71.0067.00133.00129.00
Asbestos settlement--------------(19.00)(14.00)(24.00)
Operating Income (Loss)509.001,306.001,575.001,608.001,424.001,322.001,931.001,371.001,179.001,712.00
Interest expense276.00221.00191.00155.00159.00140.00123.00120.00111.0089.00
Acquisition-related charges--------------------
Equity in earnings of affiliated companies(25.00)17.00390.00361.00284.00299.00266.00547.00810.001,471.00
Interest income15.0021.0038.0045.0032.0021.0026.008.0014.0019.00
Other income (expense), net(60.00)(155.00)(216.00)(81.00)(117.00)(96.00)25.0045.0083.00118.00
Loss on repurchases and retirement of debt, net--------------------
Nonoperating gains------------74.00------
Gain on repurchases of debt--------2,676.00----------
Transaction-related gain, net498.00----(121.00)(448.00)80.001,369.00------
Foreign currency hedge gain (loss), net(38.00)248.00(93.00)--------622.00----
Income (loss) from continuing operations before income taxes623.001,216.001,503.001,657.003,692.001,486.003,568.002,473.001,975.003,231.00
Current- Foreign----------------321.00289.00
Deferred- Foreign----------------(116.00)(66.00)
Provision for income taxes111.00256.00437.002,154.00(3.00)147.001,096.00512.00339.00414.00
Current- Federal----------------(4.00)(2.00)
Deferred- Federal----------------143.00173.00
Deferred: State and municipal----------------(8.00)14.00
Current: State and municipal----------------3.006.00
Minority interests--------------------
Equity in earnings of associated companies, net of impairments--------------------
Income (loss) from Continuing Operations--------------------
Income from Discontinued Operation--------------------
Consolidated Net Income (Loss)512.00960.001,066.00(497.00)3,695.001,339.002,472.001,961.00----
Net income attributable to Corning Incorporated----------------1,636.00--
Dividend requirements of preferred stock------98.00------------
Less:Series A convertible preferred stock dividend98.0098.0098.00--98.0098.0094.00------
Net income (loss) attributable to common stockholders414.00862.00968.00(595.00)3,597.001,241.002,378.001,961.001,636.002,817.00
Net income available to common stockholders - diluted----------1,339.002,472.001,961.001,636.00--
Continuing operations (Basic)--------------------
Discontinued operation (basic)--------------------
Net Earnings Per Share (Basic)0.541.111.19(0.66)3.531.021.821.351.101.80
Continuing operations (Diluted)--------------------
Discontinued operation (Diluted)--------------------
Net Earnings Per Share (Diluted)0.541.071.13(0.66)3.231.001.731.341.091.78
Weighted Average Shares Outstanding (Basic)761.00776.00816.00895.001,020.001,219.001,305.001,452.001,494.001,562.00
Weighted Average Shares Outstanding (Diluted)772.00899.00941.00895.001,144.001,343.001,427.001,462.001,506.001,583.00