Analysis of Reportable Segments
Corning Inc. operates in 5 segments: Optical Communications; Display Technologies; Specialty Materials; Environmental Technologies; and Life Sciences.
Segment Profit Margin
Corning Inc., profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 11.91% | 13.16% | 12.72% | 10.27% | 12.03% |
| Display Technologies | 23.84% | 23.26% | 25.95% | 22.60% | 24.15% |
| Specialty Materials | 10.83% | 16.98% | 18.48% | 22.45% | 18.95% |
| Environmental Technologies | 21.86% | 18.43% | 16.96% | 14.38% | 17.55% |
| Life Sciences | 5.21% | 12.46% | 15.72% | 13.93% | 14.78% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Optical Communications | Optical Communications segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Display Technologies | Display Technologies segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Specialty Materials | Specialty Materials segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Environmental Technologies | Environmental Technologies segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Life Sciences | Life Sciences segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Optical Communications
Corning Inc.; Optical Communications; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 478) | 661) | 553) | 366) | 489) |
| Net sales | 4,012) | 5,023) | 4,349) | 3,563) | 4,064) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 11.91% | 13.16% | 12.72% | 10.27% | 12.03% |
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).
1 2023 Calculation
Segment profit margin = 100 × Net income ÷ Net sales
= 100 × 478 ÷ 4,012 = 11.91%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Optical Communications | Optical Communications segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Profit Margin: Display Technologies
Corning Inc.; Display Technologies; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 842) | 769) | 960) | 717) | 786) |
| Net sales | 3,532) | 3,306) | 3,700) | 3,172) | 3,254) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 23.84% | 23.26% | 25.95% | 22.60% | 24.15% |
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).
1 2023 Calculation
Segment profit margin = 100 × Net income ÷ Net sales
= 100 × 842 ÷ 3,532 = 23.84%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Display Technologies | Display Technologies segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Profit Margin: Specialty Materials
Corning Inc.; Specialty Materials; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 202) | 340) | 371) | 423) | 302) |
| Net sales | 1,865) | 2,002) | 2,008) | 1,884) | 1,594) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 10.83% | 16.98% | 18.48% | 22.45% | 18.95% |
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).
1 2023 Calculation
Segment profit margin = 100 × Net income ÷ Net sales
= 100 × 202 ÷ 1,865 = 10.83%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Specialty Materials | Specialty Materials segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Environmental Technologies
Corning Inc.; Environmental Technologies; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 386) | 292) | 269) | 197) | 263) |
| Net sales | 1,766) | 1,584) | 1,586) | 1,370) | 1,499) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 21.86% | 18.43% | 16.96% | 14.38% | 17.55% |
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).
1 2023 Calculation
Segment profit margin = 100 × Net income ÷ Net sales
= 100 × 386 ÷ 1,766 = 21.86%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Environmental Technologies | Environmental Technologies segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Life Sciences
Corning Inc.; Life Sciences; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 50) | 153) | 194) | 139) | 150) |
| Net sales | 959) | 1,228) | 1,234) | 998) | 1,015) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 5.21% | 12.46% | 15.72% | 13.93% | 14.78% |
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).
1 2023 Calculation
Segment profit margin = 100 × Net income ÷ Net sales
= 100 × 50 ÷ 959 = 5.21%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Life Sciences | Life Sciences segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Corning Inc., ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 14.75% | 20.06% | 17.37% | 12.76% | 16.28% |
| Display Technologies | 10.66% | 9.49% | 11.30% | 8.17% | 8.71% |
| Specialty Materials | 8.16% | 14.06% | 16.07% | 16.58% | 12.41% |
| Environmental Technologies | 20.61% | 14.17% | 12.51% | 9.92% | 13.76% |
| Life Sciences | 6.39% | 17.75% | 24.53% | 20.35% | 23.92% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Optical Communications | Optical Communications segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Display Technologies | Display Technologies segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. | |
| Specialty Materials | Specialty Materials segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Environmental Technologies | Environmental Technologies segment ROA improved from 2021 to 2022 and from 2022 to 2023. | |
| Life Sciences | Life Sciences segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Optical Communications
Corning Inc.; Optical Communications; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 478) | 661) | 553) | 366) | 489) |
| Assets | 3,241) | 3,295) | 3,183) | 2,868) | 3,004) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 14.75% | 20.06% | 17.37% | 12.76% | 16.28% |
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).
1 2023 Calculation
Segment ROA = 100 × Net income ÷ Assets
= 100 × 478 ÷ 3,241 = 14.75%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Optical Communications | Optical Communications segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment ROA: Display Technologies
Corning Inc.; Display Technologies; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 842) | 769) | 960) | 717) | 786) |
| Assets | 7,899) | 8,104) | 8,498) | 8,777) | 9,022) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 10.66% | 9.49% | 11.30% | 8.17% | 8.71% |
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).
1 2023 Calculation
Segment ROA = 100 × Net income ÷ Assets
= 100 × 842 ÷ 7,899 = 10.66%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Display Technologies | Display Technologies segment ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Segment ROA: Specialty Materials
Corning Inc.; Specialty Materials; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 202) | 340) | 371) | 423) | 302) |
| Assets | 2,476) | 2,419) | 2,308) | 2,551) | 2,433) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 8.16% | 14.06% | 16.07% | 16.58% | 12.41% |
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).
1 2023 Calculation
Segment ROA = 100 × Net income ÷ Assets
= 100 × 202 ÷ 2,476 = 8.16%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Specialty Materials | Specialty Materials segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Environmental Technologies
Corning Inc.; Environmental Technologies; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 386) | 292) | 269) | 197) | 263) |
| Assets | 1,873) | 2,061) | 2,150) | 1,986) | 1,912) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 20.61% | 14.17% | 12.51% | 9.92% | 13.76% |
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).
1 2023 Calculation
Segment ROA = 100 × Net income ÷ Assets
= 100 × 386 ÷ 1,873 = 20.61%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Environmental Technologies | Environmental Technologies segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Life Sciences
Corning Inc.; Life Sciences; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income | 50) | 153) | 194) | 139) | 150) |
| Assets | 782) | 862) | 791) | 683) | 627) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 6.39% | 17.75% | 24.53% | 20.35% | 23.92% |
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).
1 2023 Calculation
Segment ROA = 100 × Net income ÷ Assets
= 100 × 50 ÷ 782 = 6.39%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Life Sciences | Life Sciences segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
Corning Inc., asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 1.24 | 1.52 | 1.37 | 1.24 | 1.35 |
| Display Technologies | 0.45 | 0.41 | 0.44 | 0.36 | 0.36 |
| Specialty Materials | 0.75 | 0.83 | 0.87 | 0.74 | 0.66 |
| Environmental Technologies | 0.94 | 0.77 | 0.74 | 0.69 | 0.78 |
| Life Sciences | 1.23 | 1.42 | 1.56 | 1.46 | 1.62 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Optical Communications | Optical Communications segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Display Technologies | Display Technologies segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. | |
| Specialty Materials | Specialty Materials segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Environmental Technologies | Environmental Technologies segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Life Sciences | Life Sciences segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Optical Communications
Corning Inc.; Optical Communications; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 4,012) | 5,023) | 4,349) | 3,563) | 4,064) |
| Assets | 3,241) | 3,295) | 3,183) | 2,868) | 3,004) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.24 | 1.52 | 1.37 | 1.24 | 1.35 |
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).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= 4,012 ÷ 3,241 = 1.24
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Optical Communications | Optical Communications segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Display Technologies
Corning Inc.; Display Technologies; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 3,532) | 3,306) | 3,700) | 3,172) | 3,254) |
| Assets | 7,899) | 8,104) | 8,498) | 8,777) | 9,022) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.45 | 0.41 | 0.44 | 0.36 | 0.36 |
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).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= 3,532 ÷ 7,899 = 0.45
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Display Technologies | Display Technologies segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Asset Turnover: Specialty Materials
Corning Inc.; Specialty Materials; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 1,865) | 2,002) | 2,008) | 1,884) | 1,594) |
| Assets | 2,476) | 2,419) | 2,308) | 2,551) | 2,433) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.75 | 0.83 | 0.87 | 0.74 | 0.66 |
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).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= 1,865 ÷ 2,476 = 0.75
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Specialty Materials | Specialty Materials segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Environmental Technologies
Corning Inc.; Environmental Technologies; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 1,766) | 1,584) | 1,586) | 1,370) | 1,499) |
| Assets | 1,873) | 2,061) | 2,150) | 1,986) | 1,912) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.94 | 0.77 | 0.74 | 0.69 | 0.78 |
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).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= 1,766 ÷ 1,873 = 0.94
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Environmental Technologies | Environmental Technologies segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Life Sciences
Corning Inc.; Life Sciences; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 959) | 1,228) | 1,234) | 998) | 1,015) |
| Assets | 782) | 862) | 791) | 683) | 627) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.23 | 1.42 | 1.56 | 1.46 | 1.62 |
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).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Assets
= 959 ÷ 782 = 1.23
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Life Sciences | Life Sciences segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Corning Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 0.67 | 1.48 | 1.34 | 0.52 | 1.39 |
| Display Technologies | 0.75 | 0.90 | 1.17 | 0.57 | 1.50 |
| Specialty Materials | 1.17 | 1.97 | 1.14 | 0.77 | 1.21 |
| Environmental Technologies | 0.24 | 0.86 | 1.64 | 1.20 | 2.24 |
| Life Sciences | 0.59 | 1.93 | 2.46 | 1.66 | 1.63 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Optical Communications | Optical Communications segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Display Technologies | Display Technologies segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Specialty Materials | Specialty Materials segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Environmental Technologies | Environmental Technologies segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Life Sciences | Life Sciences segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Optical Communications
Corning Inc.; Optical Communications; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 176) | 368) | 301) | 127) | 329) |
| Depreciation | 263) | 249) | 224) | 242) | 237) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.67 | 1.48 | 1.34 | 0.52 | 1.39 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 176 ÷ 263 = 0.67
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Optical Communications | Optical Communications segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Display Technologies
Corning Inc.; Display Technologies; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 363) | 495) | 710) | 311) | 872) |
| Depreciation | 481) | 547) | 605) | 548) | 583) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.75 | 0.90 | 1.17 | 0.57 | 1.50 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 363 ÷ 481 = 0.75
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Display Technologies | Display Technologies segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Specialty Materials
Corning Inc.; Specialty Materials; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 175) | 306) | 183) | 125) | 176) |
| Depreciation | 149) | 155) | 161) | 162) | 145) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.17 | 1.97 | 1.14 | 0.77 | 1.21 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 175 ÷ 149 = 1.17
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Specialty Materials | Specialty Materials segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Capital Expenditures to Depreciation: Environmental Technologies
Corning Inc.; Environmental Technologies; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 31) | 110) | 228) | 159) | 287) |
| Depreciation | 129) | 128) | 139) | 132) | 128) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.24 | 0.86 | 1.64 | 1.20 | 2.24 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 31 ÷ 129 = 0.24
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Environmental Technologies | Environmental Technologies segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Life Sciences
Corning Inc.; Life Sciences; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 41) | 116) | 128) | 83) | 80) |
| Depreciation | 69) | 60) | 52) | 50) | 49) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.59 | 1.93 | 2.46 | 1.66 | 1.63 |
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).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 41 ÷ 69 = 0.59
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Life Sciences | Life Sciences segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net sales
Corning Inc., net sales by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 4,012) | 5,023) | 4,349) | 3,563) | 4,064) |
| Display Technologies | 3,532) | 3,306) | 3,700) | 3,172) | 3,254) |
| Specialty Materials | 1,865) | 2,002) | 2,008) | 1,884) | 1,594) |
| Environmental Technologies | 1,766) | 1,584) | 1,586) | 1,370) | 1,499) |
| Life Sciences | 959) | 1,228) | 1,234) | 998) | 1,015) |
| Hemlock and Emerging Growth Businesses | 1,446) | 1,662) | 1,243) | 465) | 230) |
| Total | 13,580) | 14,805) | 14,120) | 11,452) | 11,656) |
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).
Depreciation
Corning Inc., depreciation by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 263) | 249) | 224) | 242) | 237) |
| Display Technologies | 481) | 547) | 605) | 548) | 583) |
| Specialty Materials | 149) | 155) | 161) | 162) | 145) |
| Environmental Technologies | 129) | 128) | 139) | 132) | 128) |
| Life Sciences | 69) | 60) | 52) | 50) | 49) |
| Hemlock and Emerging Growth Businesses | 144) | 146) | 134) | 81) | 50) |
| Total | 1,235) | 1,285) | 1,315) | 1,215) | 1,192) |
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).
Net income
Corning Inc., net income by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 478) | 661) | 553) | 366) | 489) |
| Display Technologies | 842) | 769) | 960) | 717) | 786) |
| Specialty Materials | 202) | 340) | 371) | 423) | 302) |
| Environmental Technologies | 386) | 292) | 269) | 197) | 263) |
| Life Sciences | 50) | 153) | 194) | 139) | 150) |
| Hemlock and Emerging Growth Businesses | 15) | 39) | (51) | (214) | (289) |
| Total | 1,973) | 2,254) | 2,296) | 1,628) | 1,701) |
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).
Assets
Corning Inc., assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 3,241) | 3,295) | 3,183) | 2,868) | 3,004) |
| Display Technologies | 7,899) | 8,104) | 8,498) | 8,777) | 9,022) |
| Specialty Materials | 2,476) | 2,419) | 2,308) | 2,551) | 2,433) |
| Environmental Technologies | 1,873) | 2,061) | 2,150) | 1,986) | 1,912) |
| Life Sciences | 782) | 862) | 791) | 683) | 627) |
| Hemlock and Emerging Growth Businesses | 2,307) | 2,136) | 2,024) | 2,157) | 891) |
| Total | 18,578) | 18,877) | 18,954) | 19,022) | 17,889) |
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).
Capital expenditures
Corning Inc., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Optical Communications | 176) | 368) | 301) | 127) | 329) |
| Display Technologies | 363) | 495) | 710) | 311) | 872) |
| Specialty Materials | 175) | 306) | 183) | 125) | 176) |
| Environmental Technologies | 31) | 110) | 228) | 159) | 287) |
| Life Sciences | 41) | 116) | 128) | 83) | 80) |
| Hemlock and Emerging Growth Businesses | 303) | 218) | 149) | 123) | 155) |
| Total | 1,089) | 1,613) | 1,699) | 928) | 1,899) |
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).