$GLW
Corning Inc

2013 Q3 Form 10-K Financial Statement

#000130817914000032 Filed on February 10, 2014

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q4 2012 Q3
Revenue $2.067B $2.146B $2.038B
YoY Change 1.42% 13.73% -1.78%
Cost Of Revenue $1.166B $1.348B $1.149B
YoY Change 1.48% 26.93% 4.74%
Gross Profit $901.0M $798.0M $889.0M
YoY Change 1.35% -3.27% -9.1%
Gross Profit Margin 43.59% 37.19% 43.62%
Selling, General & Admin $265.0M $357.0M $289.0M
YoY Change -8.3% 26.15% 33.8%
% of Gross Profit 29.41% 44.74% 32.51%
Research & Development $184.0M $218.0M $182.0M
YoY Change 1.1% 23.16% 9.64%
% of Gross Profit 20.42% 27.32% 20.47%
Depreciation & Amortization $248.0M $267.0M $248.0M
YoY Change 0.0% 8.1% 1.22%
% of Gross Profit 27.52% 33.46% 27.9%
Operating Expenses $457.0M $581.0M $475.0M
YoY Change -3.79% 25.22% 23.06%
Operating Profit $444.0M $217.0M $414.0M
YoY Change 7.25% -39.89% -30.07%
Interest Expense $78.00M $66.00M $210.0M
YoY Change -62.86% -80.7% -38.78%
% of Operating Profit 17.57% 30.41% 50.72%
Other Income/Expense, Net $32.00M $37.00M $6.000M
YoY Change 433.33% -384.62% -166.67%
Pretax Income $549.0M $182.0M $627.0M
YoY Change -12.44% -67.03% -31.92%
Income Tax $141.0M $28.00M $94.00M
% Of Pretax Income 25.68% 15.38% 14.99%
Net Earnings $408.0M $155.0M $533.0M
YoY Change -23.45% -68.43% -28.84%
Net Earnings / Revenue 19.74% 7.22% 26.15%
Basic Earnings Per Share $0.11 $0.36
Diluted Earnings Per Share $0.28 $0.10 $0.36
COMMON SHARES
Basic Shares Outstanding 1.483B
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.446B $6.144B $6.351B
YoY Change -14.25% 5.48% -1.09%
Cash & Equivalents $4.560B $4.988B $4.952B
Short-Term Investments $886.0M $1.156B $1.399B
Other Short-Term Assets $1.015B $1.198B $914.0M
YoY Change 11.05% 50.69% 27.83%
Inventory $1.275B $1.051B $1.003B
Prepaid Expenses
Receivables $1.392B $1.302B $1.248B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.128B $9.695B $9.516B
YoY Change -4.08% 11.73% 2.72%
LONG-TERM ASSETS
Property, Plant & Equipment $9.977B $10.63B $11.04B
YoY Change -9.6% -0.43% 7.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.255B $4.915B $5.172B
YoY Change 1.6% 4.0% 5.77%
Other Assets $2.803B $2.644B $2.774B
YoY Change 1.05% -7.16% -3.41%
Total Long-Term Assets $19.59B $19.68B $19.89B
YoY Change -1.55% 2.66% 5.21%
TOTAL ASSETS
Total Short-Term Assets $9.128B $9.695B $9.516B
Total Long-Term Assets $19.59B $19.68B $19.89B
Total Assets $28.71B $29.38B $29.41B
YoY Change -2.37% 5.48% 4.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $640.0M $779.0M $901.0M
YoY Change -28.97% -20.27% -3.94%
Accrued Expenses $892.0M $806.0M $956.0M
YoY Change -6.69% -26.26% -8.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $23.00M $76.00M $130.0M
YoY Change -82.31% 181.48% 381.48%
Total Short-Term Liabilities $1.578B $1.956B $1.987B
YoY Change -20.58% -6.72% -1.1%
LONG-TERM LIABILITIES
Long-Term Debt $2.816B $3.382B $3.272B
YoY Change -13.94% 43.06% 43.38%
Other Long-Term Liabilities $2.522B $2.504B $2.265B
YoY Change 11.35% 10.89% 3.38%
Total Long-Term Liabilities $5.338B $5.886B $5.537B
YoY Change -3.59% 27.35% 23.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.578B $1.956B $1.987B
Total Long-Term Liabilities $5.338B $5.886B $5.537B
Total Liabilities $6.965B $7.889B $7.571B
YoY Change -8.0% 16.53% 15.89%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.75B $21.49B $21.84B
YoY Change
Total Liabilities & Shareholders Equity $28.71B $29.38B $29.41B
YoY Change -2.37% 5.48% 4.39%

Cashflow Statement

Concept 2013 Q3 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $408.0M $155.0M $533.0M
YoY Change -23.45% -68.43% -28.84%
Depreciation, Depletion And Amortization $248.0M $267.0M $248.0M
YoY Change 0.0% 8.1% 1.22%
Cash From Operating Activities $491.0M $1.240B $634.0M
YoY Change -22.56% 7.17% -30.56%
INVESTING ACTIVITIES
Capital Expenditures -$244.0M -$526.0M -$422.0M
YoY Change -42.18% -31.33% -34.06%
Acquisitions
YoY Change
Other Investing Activities $4.000M -$481.0M -$60.00M
YoY Change -106.67% -265.86% -127.03%
Cash From Investing Activities -$240.0M -$1.007B -$482.0M
YoY Change -50.21% 111.55% 15.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -354.0M -209.0M -166.0M
YoY Change 113.25% -74.04% 260.87%
NET CHANGE
Cash From Operating Activities 491.0M 1.240B 634.0M
Cash From Investing Activities -240.0M -1.007B -482.0M
Cash From Financing Activities -354.0M -209.0M -166.0M
Net Change In Cash -103.0M 24.00M -14.00M
YoY Change 635.71% -119.35% -103.12%
FREE CASH FLOW
Cash From Operating Activities $491.0M $1.240B $634.0M
Capital Expenditures -$244.0M -$526.0M -$422.0M
Free Cash Flow $735.0M $1.766B $1.056B
YoY Change -30.4% -8.16% -32.0%

Facts In Submission

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