Name: Corning Inc. (NYSE:GLW) | Liabilities and Stockholders’ Equity (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity
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.

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.

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Corning Inc., consolidated balance sheet: liabilities and stockholders’ equity (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
Current portion of long-term debt and short-term borrowings	318)	320)	297)	187)	197)	224)	208)	121)	120)	55)	50)	353)	154)	156)	256)	12)	12)	11)	305)	455)	7)
Accounts payable	1,476)	1,466)	1,459)	1,519)	1,662)	1,804)	1,808)	1,934)	1,849)	1,612)	1,396)	1,312)	1,272)	1,174)	1,176)	1,109)	1,250)	1,587)	1,447)	1,297)	1,278)
Other accrued liabilities	2,381)	2,533)	2,529)	2,705)	2,914)	3,147)	3,151)	3,475)	3,092)	3,139)	2,891)	2,959)	2,087)	2,437)	2,417)	1,899)	1,929)	1,923)	1,848)	1,664)	1,774)
Current liabilities	4,175)	4,319)	4,285)	4,411)	4,773)	5,175)	5,167)	5,530)	5,061)	4,806)	4,337)	4,624)	3,513)	3,767)	3,849)	3,020)	3,191)	3,521)	3,600)	3,416)	3,059)
Long-term debt, excluding current portion	7,050)	7,206)	7,210)	7,437)	6,654)	6,687)	6,525)	6,677)	6,839)	6,989)	7,019)	7,025)	7,650)	7,816)	7,822)	7,797)	7,815)	7,729)	6,225)	6,080)	6,018)
Postretirement benefits other than pensions	399)	398)	406)	407)	405)	407)	585)	588)	620)	622)	729)	723)	733)	727)	667)	668)	671)	671)	646)	648)	659)
Other liabilities	4,435)	4,709)	4,633)	4,680)	4,783)	4,955)	4,910)	4,941)	5,108)	5,192)	5,266)	5,292)	4,689)	5,017)	5,072)	3,928)	3,895)	3,980)	3,724)	3,910)	3,879)
Non-current liabilities	11,884)	12,313)	12,249)	12,524)	11,842)	12,049)	12,020)	12,206)	12,567)	12,803)	13,014)	13,040)	13,072)	13,560)	13,561)	12,393)	12,381)	12,380)	10,595)	10,638)	10,556)
Total liabilities	16,059)	16,632)	16,534)	16,935)	16,615)	17,224)	17,187)	17,736)	17,628)	17,609)	17,351)	17,664)	16,585)	17,327)	17,410)	15,413)	15,572)	15,901)	14,195)	14,054)	13,615)
Convertible preferred stock, Series A, par value $100 per share	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	2,300)	2,300)	2,300)	2,300)	2,300)	2,300)	2,300)	2,300)	2,300)
Common stock, par value $0.50 per share	917)	916)	915)	915)	911)	910)	910)	910)	908)	907)	907)	907)	864)	863)	861)	860)	859)	859)	859)	858)	857)
Additional paid-in capital, common stock	16,998)	16,929)	16,877)	16,817)	16,746)	16,682)	16,649)	16,590)	16,531)	16,475)	16,398)	16,352)	14,722)	14,642)	14,494)	14,398)	14,340)	14,323)	14,295)	14,277)	14,243)
Retained earnings	16,358)	16,391)	16,673)	16,509)	16,713)	16,778)	17,044)	16,837)	16,737)	16,389)	16,110)	15,739)	16,509)	16,120)	16,065)	15,847)	16,114)	16,408)	16,555)	16,399)	16,489)
Treasury stock, at cost	(20,672)	(20,637)	(20,633)	(20,630)	(20,548)	(20,532)	(20,528)	(20,509)	(20,419)	(20,263)	(20,011)	(19,986)	(19,934)	(19,928)	(19,926)	(19,924)	(19,918)	(19,812)	(19,588)	(19,279)	(19,116)
Accumulated other comprehensive loss	(2,375)	(2,048)	(2,402)	(2,199)	(1,897)	(1,830)	(2,791)	(2,094)	(1,362)	(1,175)	(1,259)	(1,052)	(1,092)	(740)	(1,134)	(1,432)	(1,497)	(1,171)	(1,387)	(1,130)	(1,166)
Total Corning Incorporated shareholders’ equity	11,226)	11,551)	11,430)	11,412)	11,925)	12,008)	11,284)	11,734)	12,395)	12,333)	12,145)	11,960)	13,369)	13,257)	12,660)	12,049)	12,198)	12,907)	13,034)	13,425)	13,607)
Non-controlling interest	333)	317)	314)	298)	282)	267)	264)	248)	234)	212)	210)	182)	189)	191)	197)	84)	89)	90)	100)	96)	99)
Total equity	11,559)	11,868)	11,744)	11,710)	12,207)	12,275)	11,548)	11,982)	12,629)	12,545)	12,355)	12,142)	13,558)	13,448)	12,857)	12,133)	12,287)	12,997)	13,134)	13,521)	13,706)
Total liabilities and equity	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)

A longitudinal analysis of the balance sheet reveals a general increase in total liabilities and a concurrent decline in total equity from March 2019 through March 2024. Total liabilities rose from 13,615 million USD to a peak of 17,736 million USD in June 2022, before moderating to 16,059 million USD by the end of the period. During this same timeframe, total equity decreased from 13,706 million USD to 11,559 million USD, indicating a shift in the company's capital structure toward higher leverage.

Current Liabilities and Short-Term Obligations: Current liabilities exhibited significant growth between 2019 and 2022, rising from 3,059 million USD to a peak of 5,530 million USD in June 2022. This increase was primarily driven by a rise in other accrued liabilities and accounts payable. Following the 2022 peak, current liabilities trended downward, reaching 4,175 million USD by March 2024. Short-term borrowings and the current portion of long-term debt remained volatile, fluctuating between minimal levels and peaks of approximately 455 million USD.
Long-Term Debt and Non-Current Liabilities: Long-term debt, excluding the current portion, increased from 6,018 million USD in March 2019 to a peak of 7,822 million USD in September 2020. While it remained relatively stable throughout 2021 and 2022, it settled at 7,050 million USD by March 2024. Total non-current liabilities generally followed this trend, peaking in late 2020 at 13,561 million USD before declining to 11,884 million USD by the final reporting date.
Shareholders' Equity and Capital Management: Total shareholders' equity experienced a gradual decline from 13,607 million USD in March 2019 to 11,226 million USD in March 2024. A primary driver of this decline was the consistent increase in treasury stock at cost, which moved from negative 19,116 million USD to negative 20,672 million USD, suggesting a sustained program of share repurchases. Retained earnings remained relatively stable, oscillating between 15,739 million USD and 17,044 million USD over the five-year period.
Comprehensive Loss and Other Equity Adjustments: Accumulated other comprehensive loss showed a trend of deepening deficits, particularly between 2021 and 2023. Losses expanded from 1,166 million USD in March 2019 to a peak of 2,791 million USD in September 2022, eventually settling at 2,375 million USD by March 2024. This volatility contributed to the overall reduction in total equity.
Overall Solvency Trend: The relationship between total liabilities and total equity shifted noticeably over the analyzed period. In March 2019, liabilities and equity were nearly balanced. By March 2024, total liabilities exceeded total equity by approximately 4,500 million USD, reflecting an increased reliance on debt and other liability-based financing relative to shareholder capital.

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Corning Inc. (NYSE:GLW)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data