Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Corning Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Current portion of long-term debt and short-term borrowings	320)	224)	55)	156)	11)
Accounts payable	1,466)	1,804)	1,612)	1,174)	1,587)
Wages and employee benefits	609)	727)	824)	572)	565)
Income taxes	69)	127)	196)	173)	182)
Derivative instruments	66)	174)	144)	189)	100)
Deferred revenue	181)	144)	148)	152)	—)
Customer deposits	148)	132)	223)	211)	104)
Share repurchase liability	—)	506)	506)	—)	—)
Short-term operating lease liabilities	112)	111)	94)	96)	62)
Other current liabilities	1,348)	1,226)	1,004)	1,044)	910)
Other accrued liabilities	2,533)	3,147)	3,139)	2,437)	1,923)
Current liabilities	4,319)	5,175)	4,806)	3,767)	3,521)
Long-term debt, excluding current portion	7,206)	6,687)	6,989)	7,816)	7,729)
Postretirement benefits other than pensions	398)	407)	622)	727)	671)
Defined benefit pension plan liabilities	721)	668)	707)	887)	980)
Derivative instruments	31)	17)	49)	155)	165)
Deferred revenue	679)	725)	764)	872)	—)
Investment in Hemlock Semiconductor Group	—)	—)	—)	—)	270)
Customer deposits	1,083)	1,137)	1,072)	1,148)	927)
Deferred tax liabilities	218)	243)	258)	313)	325)
Long-term operating lease liabilities	846)	795)	691)	633)	450)
Other non-current liabilities	1,131)	1,370)	1,651)	1,009)	863)
Other liabilities	4,709)	4,955)	5,192)	5,017)	3,980)
Non-current liabilities	12,313)	12,049)	12,803)	13,560)	12,380)
Total liabilities	16,632)	17,224)	17,609)	17,327)	15,901)
Convertible preferred stock, Series A, par value $100 per share	—)	—)	—)	2,300)	2,300)
Common stock, par value $0.50 per share	916)	910)	907)	863)	859)
Additional paid-in capital, common stock	16,929)	16,682)	16,475)	14,642)	14,323)
Retained earnings	16,391)	16,778)	16,389)	16,120)	16,408)
Treasury stock, at cost	(20,637)	(20,532)	(20,263)	(19,928)	(19,812)
Accumulated other comprehensive loss	(2,048)	(1,830)	(1,175)	(740)	(1,171)
Total Corning Incorporated shareholders’ equity	11,551)	12,008)	12,333)	13,257)	12,907)
Non-controlling interest	317)	267)	212)	191)	90)
Total equity	11,868)	12,275)	12,545)	13,448)	12,997)
Total liabilities and equity	28,500)	29,499)	30,154)	30,775)	28,898)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Corning Inc. current liabilities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Non-current liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Corning Inc. non-current liabilities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Corning Inc. total liabilities decreased from 2021 to 2022 and from 2022 to 2023.
Total Corning Incorporated shareholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Corning Inc. total Corning Incorporated shareholders’ equity decreased from 2021 to 2022 and from 2022 to 2023.

Corning Inc. (NYSE:GLW)

Balance Sheet: Liabilities and Stockholders’ Equity