Name: Corning Inc. (NYSE:GLW) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Corning Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash and cash equivalents	1,365)	1,779)	1,639)	1,538)	1,146)	1,671)	1,630)	1,629)	2,016)	2,148)	2,212)	2,320)	2,868)	2,672)	2,514)	2,158)	2,025)	2,434)	971)	1,178)	1,456)
Trade accounts receivable, net of doubtful accounts	1,621)	1,572)	1,725)	1,674)	1,688)	1,721)	1,620)	1,786)	1,910)	2,004)	2,114)	2,057)	1,900)	2,133)	2,099)	1,712)	1,708)	1,836)	2,024)	2,103)	1,974)
Inventories	2,713)	2,666)	2,655)	2,757)	2,863)	2,904)	2,951)	2,835)	2,618)	2,481)	2,463)	2,387)	2,361)	2,438)	2,581)	2,235)	2,347)	2,320)	2,337)	2,291)	2,190)
Other current assets	1,272)	1,195)	1,279)	1,324)	1,180)	1,157)	1,603)	1,633)	1,317)	1,026)	890)	884)	974)	761)	864)	741)	866)	873)	824)	739)	729)
Current assets	6,971)	7,212)	7,298)	7,293)	6,877)	7,453)	7,804)	7,883)	7,861)	7,659)	7,679)	7,648)	8,103)	8,004)	8,058)	6,846)	6,946)	7,463)	6,156)	6,311)	6,349)
Property, plant and equipment, net of accumulated depreciation	14,199)	14,630)	14,407)	14,681)	15,137)	15,371)	14,645)	15,350)	15,780)	15,804)	15,383)	15,455)	15,364)	15,742)	15,449)	14,691)	14,932)	15,337)	15,083)	15,137)	14,878)
Goodwill	2,370)	2,380)	2,372)	2,382)	2,394)	2,394)	2,368)	2,389)	2,408)	2,421)	2,425)	2,433)	2,429)	2,460)	2,427)	1,925)	1,918)	1,935)	1,924)	1,938)	1,930)
Other intangible assets, net	871)	905)	938)	972)	1,002)	1,029)	1,049)	1,088)	1,118)	1,148)	1,192)	1,228)	1,259)	1,308)	1,332)	1,072)	1,149)	1,185)	1,206)	1,240)	1,265)
Deferred income taxes	1,132)	1,153)	1,037)	1,083)	1,106)	1,073)	998)	982)	1,030)	1,066)	1,062)	1,051)	992)	1,121)	1,173)	1,266)	1,181)	1,157)	1,109)	1,053)	1,051)
Other assets	2,075)	2,220)	2,226)	2,234)	2,306)	2,179)	1,871)	2,026)	2,060)	2,056)	1,965)	1,991)	1,996)	2,140)	1,828)	1,746)	1,733)	1,821)	1,851)	1,896)	1,848)
Non-current assets	20,647)	21,288)	20,980)	21,352)	21,945)	22,046)	20,931)	21,835)	22,396)	22,495)	22,027)	22,158)	22,040)	22,771)	22,209)	20,700)	20,913)	21,435)	21,173)	21,264)	20,972)
Total assets	27,618)	28,500)	28,278)	28,645)	28,822)	29,499)	28,735)	29,718)	30,257)	30,154)	29,706)	29,806)	30,143)	30,775)	30,267)	27,546)	27,859)	28,898)	27,329)	27,575)	27,321)

Total assets exhibited a period of growth between 2019 and 2020, peaking at 30,775 million US dollars in December 2020. Following this peak, a gradual contraction is observed, with total assets declining to 27,618 million US dollars by March 2024. This overall trajectory suggests a reduction in the company's asset base over the latter half of the analyzed period.

Current Asset Dynamics: Current assets showed significant volatility, rising from 6,349 million US dollars in March 2019 to a peak of 8,103 million US dollars in March 2021, before trending downward to 6,971 million US dollars in March 2024. A primary driver of this volatility was cash and cash equivalents, which surged from 1,456 million US dollars in early 2019 to a peak of 2,868 million US dollars in March 2021, followed by a sustained decrease to 1,365 million US dollars by March 2024.; Inventories demonstrated a consistent upward trend for several years, increasing from 2,190 million US dollars in March 2019 to a peak of 2,951 million US dollars in September 2022. While levels have slightly moderated since that peak, inventories remain elevated compared to 2019 levels, ending at 2,713 million US dollars in March 2024.; Trade accounts receivable remained relatively stable, generally fluctuating between 1,600 million and 2,100 million US dollars throughout the period, indicating a consistent credit management cycle.
Non-Current Asset Analysis: Property, plant, and equipment (PP&E), net of accumulated depreciation, represented the largest component of the asset base. Values remained relatively stable between 14,000 million and 15,800 million US dollars, though a slight downward trend emerged after December 2021, with the balance reaching 14,199 million US dollars by March 2024.; Goodwill experienced a structural step-up in September 2020, rising from approximately 1,900 million US dollars to 2,427 million US dollars, remaining largely plateaued thereafter.; Other intangible assets showed a steady and continuous decline over the five-year period, falling from 1,265 million US dollars in March 2019 to 871 million US dollars in March 2024, likely reflecting systematic amortization.

The shift in asset composition indicates a transition from a period of liquidity accumulation and asset expansion (2020-2021) to a phase of asset contraction and potential optimization (2022-2024). The increase in inventory levels relative to the decrease in cash positions suggests a shift in working capital allocation over the analyzed timeframe.

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Corning Inc. (NYSE:GLW)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data