Financial Analysis

Commitments, Contingencies and Guarantees Guarantees The Company is required, at the time a guarantee is issued, to recognize a liability for the fair value or market value of the obligation it assumes. In the normal course of business, the Company does not routinely provide significant third-party guarantees. Generally, third-party guarantees provided by Corning are limited to certain financial guarantees, including stand-by letters of credit and performance bonds, and the incurrence of contingent liabilities in the form of purchase consideration adjustments related to attainment of milestones. These guarantees have various terms and none of these guarantees are individually significant. The Company believes a significant majority of these guarantees and contingent liabilities will expire without being funded. Purchase Commitments Purchase obligations are enforceable and legally binding obligations. The Company has purchase commitments primarily for raw materials and energy-related take-or-pay contracts. Commitments made under these obligations as of December 31, 2025 are as follows (in millions): Amount of commitment expiration per period Less than 1 year 1 to 3 years 3 to 5 years 5 years and thereafter Purchase obligations $ 283 $ 181 $ 103 $ 332 Litigation, Environmental and Indemnifications Corning is a defendant in various lawsuits and is subject to various claims that arise in the normal course of business, the most significant of which are summarized below. In the opi …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Debt Debt consisted of the following (in millions): December 31, 2025 2024 Current portion of long-term debt $ 795 $ 326 Short-term borrowings, average rate 3.25% 9 Current portion of long-term debt and short-term borrowings $ 804 $ 326 Long-term debt Debentures, 6.85%, due 2029 $ 150 $ 156 Debentures, 7.25%, due 2036 249 249 Debentures, 4.70%, due 2037 297 297 Debentures, 5.75%, due 2040 401 397 Debentures, 4.75%, due 2042 497 497 Debentures, 5.35%, due 2048 545 545 Debentures, 3.90%, due 2049 396 396 Debentures, 4.375%, due 2057 744 743 Debentures, 5.85%, due 2068 297 297 Debentures, 5.45%, due 2079 1,087 1,087 Yen-denominated debentures, 0.722%, due 2025 64 Yen-denominated debentures, 0.992%, due 2027 237 236 Yen-denominated debentures, 1.043%, due 2028 163 163 Yen-denominated debentures, 1.219%, due 2030 159 159 Yen-denominated debentures, 1.153%, due 2031 199 198 Yen-denominated debentures, 1.583%, due 2037 63 63 Yen-denominated debentures, 1.513%, due 2039 38 37 Euro-denominated notes, 3.875%, due 2026 352 311 Euro-denominated notes, 4.125%, due 2031 642 568 Financing Leases, average discount rate 5.86%, due through 2045 (Note 8) 1,232 174 Other, average rate 3.86%, due through 2042 677 574 Total long-term debt, including current portion 8,425 7,211 Less current portion of long-term debt 795 326 Long-term debt $ 7,630 $ 6,885 Based on borrowing rates currently available to us for loans with similar terms and maturities, the fair value of long-term debt was $7.3 billion …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents revenues by product category (in millions): Year ended December 31, 2025 2024 2023 Optical communications products $ 6,274 $ 4,657 $ 4,012 Display products 2,965 2,727 2,694 Specialty material products 2,194 2,000 1,854 Automotive products 1,777 1,704 1,787 Life science products 959 933 922 Polycrystalline silicon products 955 865 1,014 All other products 505 232 305 Total Revenue $ 15,629 $ 13,118 $ 12,588

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14. Share-Based Compensation The following table presents share-based compensation cost and the unrecognized compensation cost by award type (in millions): Amount of share-based compensation cost recognized Unrecognized compensation cost Weighted-average remaining term (in years) Year ended December 31, December 31, 2025 2024 2023 2025 Time-based restricted stock and restricted stock units $ 117 $ 141 $ 172 $ 53 1.7 Performance-based restricted stock units 161 123 36 41 1.5 Stock Options 2 Other 8 9 8 Total share-based compensation cost (1) $ 286 $ 273 $ 218 (1) The income tax benefit realized from share-based compensation was $42 million, $9 million and $17 million, respectively, for the years ended December 31, 2025, 2024 and 2023. As of December 31, 2025, there were approximately 17 million unissued common shares available for future grants authorized under the Plans. Incentive Stock Plans Time-Based Restricted Stock and Restricted Stock Units The following table summarizes the changes in non-vested time-based restricted stock and restricted stock units during the year ended December 31, 2025: Number of shares (in thousands) Weighted-average grant-date fair value Non-vested as of December 31, 2024 8,456 $ 32.94 Granted 1,159 52.02 Vested (4,083) 32.81 Forfeited (167) 37.10 Non-vested as of December 31, 2025 5,365 $ 37.03 The total fair value of time-based restricted stock and restricted stock units that vested during the years ended December 31, 2025, 2024 and 2023 was app …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Goodwill and Other Intangible Assets The following table presents the changes in the carrying amount of goodwill (in millions): Optical Communications Display Specialty Materials Life Sciences Hemlock and Emerging Growth Businesses Total Balance as of December 31, 2023 $ 904 $ 119 $ 151 $ 607 $ 599 $ 2,380 Acquired goodwill 11 11 Foreign currency translation adjustment and other (14) (9) (14) (1) 10 (28) Balance as of December 31, 2024 $ 890 $ 121 $ 137 $ 606 $ 609 $ 2,363 Acquired goodwill (1) 98 98 Foreign currency translation adjustment and other 17 2 3 6 28 Balance as of December 31, 2025 $ 907 $ 123 $ 137 $ 609 $ 713 $ 2,489 (1) The Company acquired a U.S. solar module manufacturing facility. Refer to Note 3 (Acquisition) to the consolidated financial statements for additional information. As of December 31, 2025 and 2024, Cornings gross goodwill balance was $9.0 billion and $8.9 billion, respectively, and accumulated impairment losses were $6.5 billion. Accumulated impairment losses were generated primarily through goodwill impairments related to the Optical Communications segment. Other Intangible Assets, Net Other intangible assets, net consisted of the following (in millions): December 31, 2025 2024 Gross Accumulated amortization Net Gross Accumulated amortization Net Amortized intangible assets: Patents, trademarks & trade names $ 449 $ 319 $ 130 $ 407 $ 266 $ 141 Customer lists and other (1) 1,411 884 527 1,391 780 611 Other intangible assets, net $ 1,860 $ 1,2 …

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Income Taxes The following table presents the components of income before income taxes (in millions): Year ended December 31, 2025 2024 2023 U.S. companies $ 1,390 $ 303 $ 105 Non-U.S. companies 662 510 711 Income before income taxes $ 2,052 $ 813 $ 816 The following table presents the current and deferred amounts of the provision for income taxes, based on the location of the taxing authority (in millions): Year ended December 31, 2025 2024 2023 Current: Federal $ (339) $ (6) $ (8) State and municipal (26) (6) (13) Foreign (300) (242) (222) Deferred: Federal 324 63 76 State and municipal 19 6 7 Foreign 12 (36) (8) Provision for income taxes $ (310) $ (221) $ (168) The following table presents the reconciliation of the statutory U.S. federal income tax rate to the effective tax rate (in millions): Year ended December 31, 2025 U.S. federal statutory tax rate $ 431 21.0 % State and local income tax, net of federal (national) income tax effect (1) 1 % Foreign tax effects: China: Withholding taxes 87 4.2 % Other 0 % Other foreign jurisdictions 36 1.8 % Effect of changes in tax laws or rates enacted in the current period 0 % Effect of cross-border tax laws: Foreign derived intangible income (79) (3.8 %) Other 9 0.4 % Tax credits: Foreign tax credits (113) (5.5 %) Other (19) (0.9 %) Changes in valuation allowances 0 % Nontaxable or nondeductible items: Share-based compensation (36) (1.8 %) Government incentives (IRA credits) (32) (1.6 %) Other 17 0.8 % Changes in unrecognized tax b …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases The following table presents the components of lease cost (in millions): Year ended December 31, 2025 2024 2023 Operating lease cost $ 165 $ 170 $ 171 Variable lease cost 55 55 57 Short-term lease cost 4 3 2 Finance lease cost Amortization of right-of-use assets 45 34 35 Interest on lease liabilities 21 7 8 Total lease cost $ 290 $ 269 $ 273 The following table presents the supplemental cash flow information for amounts included in the measurement of lease liabilities (in millions): December 31, 2025 2024 2023 Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 147 $ 139 $ 153 Operating cash outflows from interest on finance leases $ 8 $ 7 $ 8 Financing cash outflows from finance leases $ 346 $ 30 $ 36 Right-of-use assets obtained in exchange for lease liabilities Operating leases $ 140 $ 11 $ 156 Finance leases $ 1,389 $ 21 $ 30 The following table presents the weighted-average remaining lease term and weighted-average discount rate: December 31, 2025 2024 Weighted-average remaining lease term (in years) Operating leases 12.6 13.2 Finance leases 6.1 11.6 Weighted-average discount rate Operating leases 4.5 % 4.5 % Finance leases 5.9 % 4.5 % The following table presents supplemental consolidated balance sheet information (in millions): December 31, 2025 2024 Operating leases Other assets $ 860 $ 796 Other accrued liabilities $ 97 $ 95 Other liabilities $ 846 $ 785 Total operating lease liabilities $ 943 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Adoption of New Accounting Standards Accounting Standards Update (ASU), 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. We adopted the new standard and applied the amendments prospectively in the consolidated financial statements. The standard enhances the transparency and decision usefulness of income tax disclosures. Adoption of the new standard did not impact the consolidated balance sheets or consolidated statements of income. Refer to Note 15 (Income Taxes) for the incremental disclosures required under the standard. ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. In December 2025, the FASB issued ASU 2025-10 to establish recognition, measurement, presentation and disclosure guidance for government grants received by business entities. The Company early adopted the new standard effective in the year ended December 31, 2025 and there was no impact to the consolidated financial statements and the incremental disclosures required under the standard are included herein. Accounting Standards Issued But Not Yet Adopted ASU 2024-03, Income Statement - Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses (ASU 2024-03). In November 2024, the FASB issued ASU 2024-03 to improve the disclosures about an entitys expenses and requires additional disclosure of the nature of expenses included in the income statement. ASU 2024-03 is effective for annual periods beginn …

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11. Employee Retirement Plans Defined Benefit Plans Corning has defined benefit pension plans covering certain domestic and international employees. The Company may contribute, as necessary, an amount exceeding the minimum requirements to achieve the Companys long-term funding targets. During the year ended December 31, 2025, $50 million of voluntary cash contributions were made to our domestic defined benefit pension plan and cash contributions of $18 million were made to international pension plans. During the year ended December 31, 2024, no voluntary cash contributions were made to domestic plans and $9 million were made to international pension plans. In 2026, the Company plans to make voluntary cash contributions of $40 million to our domestic defined benefit pension plan and $12 million to international pension plans. Corning offers postretirement plans that provide health care and life insurance benefits for retirees and eligible dependents. Certain employees may become eligible for such postretirement benefits upon reaching retirement age and service requirements. In 2025 and 2024, no voluntary cash contributions were made to domestic postretirement plans. For current retirees (including surviving spouses) and active employees eligible for the salaried retiree medical program, Corning has placed a cap on the amount to be contributed toward retiree medical coverage in the future. The cap is equal to 120% of the 2005 contributions toward retiree medical benefits. Once …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring, Impairment and Other Charges and Credits Corning periodically assesses the operating efficiency and cost structure of the Companys asset base and global workforce and takes appropriate actions to align corporate resources with the business environment. The following table presents restructuring, impairment and other charges and credits (in millions): Year ended December 31, 2025 2024 2023 Severance (1) $ 26 $ 45 $ 187 Capacity optimization 23 128 176 Other charges and credits (2) 234 108 Total restructuring, impairment and other charges and credits (3) $ 49 $ 407 $ 471 (1) Severance charges in the years ended December 31, 2025, 2024 and 2023 include $1 million, $6 million and $20 million, respectively, in curtailment and special termination benefit charges. (2) Other charges and credits primarily include disposal costs and inventory write-downs. For the year ended December 31, 2024, other charges and credits include $131 million related to the recognition of non-cash cumulative foreign currency translation losses for the substantial liquidation and disposition of foreign entities. (3) Amounts impacting gross margin on the consolidated statements of income were $3 million, $211 million and $283 million for the years ended December 31, 2025, 2024 and 2023, respectively. During the year ended December 31, 2025, Corning recorded $49 million in severance and asset write-offs . As of December 31, 2025, the severance accrual of $25 million was reflected within other a …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Disaggregated Revenue The following table shows revenue by major product category, similar to the Companys reportable segment disclosure. Within each product category, contract terms, conditions and economic factors affecting the nature, amount, timing and uncertainty around revenue recognition and cash flows are substantially similar. The commercial markets and selling channels are also similar. Except for an insignificant number of telecommunications products, product category revenues are recognized at the point in time when control transfers to the customer. The following table presents revenues by product category (in millions): Year ended December 31, 2025 2024 2023 Optical communications products $ 6,274 $ 4,657 $ 4,012 Display products 2,965 2,727 2,694 Specialty material products 2,194 2,000 1,854 Automotive products 1,777 1,704 1,787 Life science products 959 933 922 Polycrystalline silicon products 955 865 1,014 All other products 505 232 305 Total Revenue $ 15,629 $ 13,118 $ 12,588 Customer Deposits As of December 31, 2025 and 2024, Corning had customer deposits of approximately $1.5 billion and $1.1 billion, respectively. Most of these customer deposits were non-refundable and allowed customers to secure rights to products produced by Corning under long-term supply agreements, generally over a period of up to 10 years. As products are delivered to customers, Corning will recognize revenue and reduce the amount of the customer deposit liability. For the ye …

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18. Reportable Segments As of January 1, 2025, the Company began managing its Automotive Glass Solutions business together with its Environmental Technologies business, forming its Automotive segment, and its Display Technologies segment was renamed to Display. The segment information presented below has been recast for the comparative periods presented for the Automotive segment. The Company has determined that it has five reportable segments for financial reporting purposes, organized primarily based on product offerings, as follows: Optical Communications manufactures carrier network and enterprise network components for the telecommunications industry; the carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications; the enterprise network group consists primarily of optical-based communication networks, including hyperscale data centers, sold to businesses, governments and individuals for their own use. Display manufactures high quality glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used primarily in televisions, notebook computers, desktop monitors, tablets and handheld devices. Specialty Materials manufactures products that provide material formulations for glass, glass ceramics and crystals, as well as precision metrology instruments and software to meet demand for unique customer needs …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Policies Organization Corning Incorporated is a provider of carrier network and enterprise network products for the telecommunications industry; high-performance glass for notebook computers, flat panel desktop monitors, display televisions and other information display applications; advanced optical materials for the semiconductor industry and the scientific community; ceramic substrates for gasoline and diesel engines in automotive and heavy-duty vehicle markets; glass products and solutions for the interior and exterior of vehicles; laboratory products for the scientific community and specialized polymer products for biotechnology applications; polycrystalline silicon products and other technologies. In these notes, the terms Corning, Company, we, us, or our mean Corning Incorporated and subsidiary companies. Basis of Presentation and Principles of Consolidation The consolidated financial statements include the accounts of Corning Incorporated and its consolidated subsidiaries (collectively, the Company), consisting of its wholly-owned subsidiaries and those entities in which we have a variable interest and of which we are the primary beneficiary, and are consolidated in conformity with accounting principles generally accepted in the United States of America (GAAP). All intercompany balances, transactions and profits have been eliminated. The results of businesses acquired in business combinations are included in the Companys consolidated …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Shareholders Equity Common Stock Dividends On February 11, 2026, Cornings Board of Directors declared a quarterly dividend of $0.28 per share common stock, which will be payable on March 30, 2026. On February 12, 2025, May 1, 2025, June 25, 2025 and October 8, 2025, Cornings Board of Directors declared a quarterly dividend of $0.28 per share of common stock, which was paid on March 28, 2025, June 27, 2025, September 29, 2025 and December 12, 2025. Fixed Rate Cumulative Convertible Preferred Stock, Series A The Company had 2,300 outstanding shares of Fixed Rate Cumulative Convertible Preferred Stock, Series A (the Preferred Stock) as of December 31, 2020 held by Samsung Display Co., Ltd. (SDC). On January 16, 2021, the Preferred Stock became convertible into 115 million common shares. On April 5, 2021 Corning and SDC executed the Share Repurchase Agreement (SRA), and the Preferred Stock was fully converted as of April 8, 2021. Immediately following the conversion, Corning repurchased and retired 35 million of the common shares held by SDC for an aggregate purchase price of approximately $1.5 billion, of which approximately $507 million was paid in April in each of 2023, 2022 and 2021. Pursuant to the SRA, with respect to the remaining 80 million common shares outstanding held by SDC, 58 million common shares are subject to a seven-year lock-up period expiring in 2027. The remaining 22 million common shares can be offered to be sold to Corning in specified tranches from time to …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies Corning is a defendant in various lawsuits and is subject to various claims that arise in the normal course of business, the most significant of which are summarized below. In the opinion of management, the likelihood that the ultimate disposition of these matters will have a material adverse effect on Cornings consolidated financial position, liquidity or results of operations, is remote. Environmental Claims Corning has been designated by federal or state governments under environmental laws, including Superfund, as a potentially responsible party that may be liable for cleanup costs associated with 21 hazardous waste sites. It is Cornings policy to accrue for its estimated liability related to such hazardous waste sites and other environmental liabilities related to property owned by Corning based on expert analysis and continual monitoring by both internal and external consultants. As of June 30, 2026 and December 31, 2025, Corning had accrued $85 million and $89 million, respectively, for the estimated undiscounted liability for environmental cleanup and related litigation. Based upon the information developed to date, management believes that the accrued reserve is a reasonable estimate of the Companys liability. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Debt Based on borrowing rates currently available to us for loans with similar terms and maturities, the fair value of long-term debt was $7.4 billion and $7.3 billion compared to recorded book values of $7.8 billion and $7.6 billion as of June 30, 2026 and December 31, 2025, respectively. The Company measures the fair value of its long-term debt using Level 2 inputs based primarily on current market yields for its existing debt traded in the secondary market. The Company maintains a revolving credit facility (the Revolving Credit Facility), which provides a committed $1.5 billion unsecured multi-currency line of credit and expires in 2030. As of June 30, 2026, there were no outstanding amounts under the Revolving Credit Facility. Certain of Cornings subsidiaries are the obligors to Chinese yuan-denominated unsecured variable rate loan facilities, whose proceeds are used for capital investment and related corporate purposes. During the three and six months ended June 30, 2026, the Company entered into new Chinese yuan-denominated variable rate loan facilities and incurred $22 million and $448 million, respectively, in short-term borrowings under these facilities. During the three months ended June 30, 2026, the Company repaid $313 million of principal balance under these facilities. As of June 30, 2026, the amount outstanding under these facilities totaled $536 million, of which $491 million is due within one year. These facilities had variable interest rates ranging from 2.2 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents revenues by product category. The product category classifications have been updated and the comparative period has been recast due to changes in how the business is being managed as of the first quarter of fiscal year 2026 (in millions): Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 Optical communications products $ 2,072 $ 1,566 $ 3,918 $ 2,921 Electronics glass and advanced optics products 1,230 1,267 2,445 2,466 Automotive products 474 457 915 883 Polycrystalline silicon and solar products 438 231 808 437 Life Sciences products 249 246 477 474 All other products 42 95 86 133 Total revenue $ 4,505 $ 3,862 $ 8,649 $ 7,314

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Share-Based Compensation Total share-based compensation expense was $135 million and $250 million for the three and six months ended June 30, 2026, respectively, and $63 million and $117 million for the three and six months ended June 30, 2025, respectively. The income tax benefit realized from share-based compensation was $83 million and $117 million for the three and six months ended June 30, 2026, respectively, and $9 million and $17 million for the three and six months ended June 30, 2025, respectively. The increase in share-based compensation expense and the related income tax benefit for the three and six months ended June 30, 2026 was primarily driven by the Companys higher stock price, which increased the fair value of performance-based restricted stock units, and the related income tax benefits realized from awards that vested during the period. …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Income Taxes The following table presents the provision for income taxes and the related effective tax rate (in millions, except percentages): Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 Provision for income taxes $ (40) $ (84) $ (161) $ (139) Effective tax rate 6.2 % 14.4 % 13.7 % 16.9 % For the three months ended June 30, 2026, the effective tax rate differed from the United States (U.S.) statutory rate of 21%, primarily due to adjustments to share-based compensation, government incentives and foreign derived deduction eligible income. For the six months ended June 30, 2026, the effective tax rate differed from the U.S. statutory rate of 21%, primarily due to adjustments to share-based compensation, government incentives, changes in reserves and foreign derived deduction eligible income partially offset by the impact of an unfavorable tax ruling in South Korea. For the three and six months ended June 30, 2025, the effective tax rate differed from the U.S. statutory rate of 21%, primarily due to foreign-derived intangible income, adjustments to share-based compensation and non-taxable items, partially offset by certain pre-tax losses with no corresponding expected tax benefit. The Internal Revenue Service (IRS) is currently conducting examinations of the Companys U.S. federal income tax returns for the years 2015 through 2018 and 2019 through 2020, including matters related to the one-time transition tax enacted under the Tax Cuts and Jobs Act o …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Employee Retirement Plans The following table presents the components of net periodic pension and postretirement benefit expense (income) for employee retirement plans, which other than the service cost component is recorded in other expense, net in the consolidated statements of income (in millions): Pension benefits Postretirement benefits Three months ended June 30, Six months ended June 30, Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 2026 2025 2026 2025 Service cost $ 30 $ 24 $ 56 $ 48 $ 1 $ 1 Interest cost 45 48 90 95 $ 5 $ 5 8 9 Expected return on plan assets (52) (49) (104) (99) Amortization of actuarial net gain (6) (9) (12) (15) Amortization of prior service cost (credit) 1 1 2 2 (1) (1) (3) Special termination benefit charge 1 1 Total pension and postretirement benefit expense (income) $ 24 $ 25 $ 44 $ 47 $ (1) $ (5) $ (4) $ (8)

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Revenue Disaggregated Revenue The following table presents revenues by product category. The product category classifications have been updated and the comparative period has been recast due to changes in how the business is being managed as of the first quarter of fiscal year 2026 (in millions): Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 Optical communications products $ 2,072 $ 1,566 $ 3,918 $ 2,921 Electronics glass and advanced optics products 1,230 1,267 2,445 2,466 Automotive products 474 457 915 883 Polycrystalline silicon and solar products 438 231 808 437 Life Sciences products 249 246 477 474 All other products 42 95 86 133 Total revenue $ 4,505 $ 3,862 $ 8,649 $ 7,314 Contract Liabilities As of June 30, 2026 and December 31, 2025, the Company had contract liabilities of $2.7 billion and $2.3 billion, respectively. Contract liabilities include customer deposits received prior to the satisfaction of performance obligations and deferred revenue related to non-refundable consideration received in advance of performance. Refer to Note 5 (Other Assets and Other Liabilities) for additional information. Customer deposits allow customers to secure rights to products produced by Corning under long-term supply agreements, typically over periods of up to 10 years. As products are delivered, Corning recognizes revenue and reduces the related customer deposit liability by applying such amounts against customer receivables. During the second quarter …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Reportable Segments Effective in the first quarter of fiscal 2026, the Company revised its segment structure. This revision corresponds with changes in how our businesses are managed, which align with how our chief operating decision maker (CODM) reviews performance and allocates resources. As a result, the Company began managing its Display and Specialty Materials businesses as a single operating segment, referred to as Glass Innovations, and its Hemlock Semiconductor Group, solar wafer, and solar module businesses as a single operating segment, referred to as Solar. In addition, the Companys Life Sciences business does not meet the quantitative threshold for separate reporting and therefore is no longer reported as a reportable segment and is included together with all other businesses that do not meet the quantitative threshold for separate reporting within Life Sciences and Emerging Growth Businesses. Optical Communications and Automotive remain unchanged and continue to be reported as separate reportable segments. As a result of the above changes, the Company has determined it has four reportable segments for financial reporting purposes, organized primarily based on product offerings, as follows: Optical Communications manufactures carrier network and enterprise network components for the telecommunications industry; the carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation In these notes, the terms Corning, Company, we, us, or our mean Corning Incorporated and its subsidiary companies. The consolidated financial statements include the accounts of Corning Incorporated and its consolidated subsidiaries (collectively, the Company), consisting of its wholly-owned subsidiaries, partially-owned subsidiaries in which the Company holds a controlling financial interest through ownership of a majority of the voting interests and those entities in which the Company has a variable interest and of which the Company is the primary beneficiary, and are consolidated in conformity with accounting principles generally accepted in the United States of America (GAAP). In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary to state fairly the financial position, results of operations and cash flows for the periods presented. All intercompany balances, transactions and profits have been eliminated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission (SEC). These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto i …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Shareholders Equity Common Stock Dividends On February 11, 2026 and April 30, 2026, Cornings Board of Directors declared dividends of $0.28 per share of common stock, which were paid on March 30, 2026 and June 29, 2026, respectively. On June 24, 2026, Cornings Board of Directors declared a quarterly dividend of $0.28 per share of common stock, which will be payable on September 29, 2026. Share Repurchase Program In 2019, the Board authorized the repurchase of up to $5.0 billion of additional common stock (2019 Authorization), which does not have an expiration date and may be amended or terminated by the Board of Directors at any time without prior notice. As of June 30, 2026, approximately $3.0 billion remains available under the Companys 2019 Authorization. During the three and six months ended June 30, 2026, no shares were repurchased. During the three and six months ended June 30, 2025, the Company repurchased 0.7 million shares and 2.8 million shares, respectively, for approximately $33 million and $133 million, respectively. Issuance of Warrants On May 6, 2026, in connection with the long-term partnership with a customer to strengthen U.S. manufacturing for AI infrastructure, the Company entered into a securities purchase agreement (the Purchase Agreement) under which the Company issued and sold (i) a warrant (the Traditional Warrant) to purchase up to 15 million shares of common stock of the Company at an exercise price of $180.00 per share, and (ii) a pre-funded warran …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing