$GLW
Corning Inc

2021 Q1 Form 10-Q Financial Statement

#000143774921010366 Filed on April 30, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $3.290B $2.391B
YoY Change 37.6% -14.97%
Cost Of Revenue $2.134B $1.830B
YoY Change 16.61% 6.83%
Gross Profit $1.156B $561.0M
YoY Change 106.06% -48.95%
Gross Profit Margin 35.14% 23.46%
Selling, General & Admin $400.0M $395.0M
YoY Change 1.27% -1.5%
% of Gross Profit 34.6% 70.41%
Research & Development $222.0M $261.0M
YoY Change -14.94% 4.82%
% of Gross Profit 19.2% 46.52%
Depreciation & Amortization $330.0M $356.0M
YoY Change -7.3% 16.34%
% of Gross Profit 28.55% 63.46%
Operating Expenses $400.0M $395.0M
YoY Change 1.27% -1.5%
Operating Profit $502.0M -$121.0M
YoY Change -514.88% -128.81%
Interest Expense $206.0M $25.00M
YoY Change 724.0% -84.57%
% of Operating Profit 41.04%
Other Income/Expense, Net $125.0M -$11.00M
YoY Change -1236.36% 22.22%
Pretax Income $825.0M -$108.0M
YoY Change -863.89% -118.78%
Income Tax $226.0M -$12.00M
% Of Pretax Income 27.39%
Net Earnings $599.0M -$96.00M
YoY Change -723.96% -119.24%
Net Earnings / Revenue 18.21% -4.02%
Basic Earnings Per Share $0.75 -$0.16
Diluted Earnings Per Share $0.67 -$0.16
COMMON SHARES
Basic Shares Outstanding 766.0M 760.0M
Diluted Shares Outstanding 898.0M 760.0M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.868B $2.025B
YoY Change 41.63% 39.08%
Cash & Equivalents $2.868B $2.025B
Short-Term Investments
Other Short-Term Assets $974.0M $866.0M
YoY Change 12.47% 18.79%
Inventory $2.361B $2.347B
Prepaid Expenses
Receivables $1.900B $1.708B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.103B $6.946B
YoY Change 16.66% 9.4%
LONG-TERM ASSETS
Property, Plant & Equipment $15.36B $14.93B
YoY Change 2.89% 0.36%
Goodwill $2.429B $1.918B
YoY Change 26.64% -0.62%
Intangibles $1.259B $1.149B
YoY Change 9.57% -9.17%
Long-Term Investments $320.0M
YoY Change -7.51%
Other Assets $1.996B $1.413B
YoY Change 41.26% -5.93%
Total Long-Term Assets $22.04B $20.91B
YoY Change 5.39% -0.28%
TOTAL ASSETS
Total Short-Term Assets $8.103B $6.946B
Total Long-Term Assets $22.04B $20.91B
Total Assets $30.14B $27.86B
YoY Change 8.2% 1.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.272B $1.250B
YoY Change 1.76% -2.19%
Accrued Expenses $2.087B $1.929B
YoY Change 8.19% 8.74%
Deferred Revenue $217.0M $192.0M
YoY Change 13.02% 128.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $154.0M $12.00M
YoY Change 1183.33% 71.43%
Total Short-Term Liabilities $3.513B $3.191B
YoY Change 10.09% 4.32%
LONG-TERM LIABILITIES
Long-Term Debt $7.650B $7.815B
YoY Change -2.11% 29.86%
Other Long-Term Liabilities $4.689B $3.895B
YoY Change 20.39% 0.41%
Total Long-Term Liabilities $4.689B $3.895B
YoY Change 20.39% 0.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.513B $3.191B
Total Long-Term Liabilities $4.689B $3.895B
Total Liabilities $16.59B $15.57B
YoY Change 6.51% 14.37%
SHAREHOLDERS EQUITY
Retained Earnings $16.51B $16.11B
YoY Change 2.45% -2.27%
Common Stock $15.59B $15.20B
YoY Change 2.55% 0.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $19.93B $19.92B
YoY Change 0.08% 4.2%
Treasury Stock Shares $961.0M $960.0M
Shareholders Equity $13.37B $12.20B
YoY Change
Total Liabilities & Shareholders Equity $30.14B $27.86B
YoY Change 8.2% 1.97%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $599.0M -$96.00M
YoY Change -723.96% -119.24%
Depreciation, Depletion And Amortization $330.0M $356.0M
YoY Change -7.3% 16.34%
Cash From Operating Activities $723.0M $248.0M
YoY Change 191.53% -955.17%
INVESTING ACTIVITIES
Capital Expenditures -$289.0M -$545.0M
YoY Change -46.97% 4.01%
Acquisitions
YoY Change
Other Investing Activities $20.00M $5.000M
YoY Change 300.0% -123.81%
Cash From Investing Activities -$288.0M -$539.0M
YoY Change -46.57% 11.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $105.0M
YoY Change -100.0% -59.14%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$190.0M -$94.00M
YoY Change 102.13% -76.08%
NET CHANGE
Cash From Operating Activities $723.0M $248.0M
Cash From Investing Activities -$288.0M -$539.0M
Cash From Financing Activities -$190.0M -$94.00M
Net Change In Cash $196.0M -$409.0M
YoY Change -147.92% -54.51%
FREE CASH FLOW
Cash From Operating Activities $723.0M $248.0M
Capital Expenditures -$289.0M -$545.0M
Free Cash Flow $1.012B $793.0M
YoY Change 27.62% 60.2%

Facts In Submission

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