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Unaudited Financial Information Recast for Changes in the Segments
2025
(in millions)Q1Q2Q3Q4Total
Optical Communications (1)
Net Sales$1,355 $1,566 $1,652 $1,701 $6,274 
Less:
   Research, development and engineering expenses (2)
77 76 75 80 308 
   Depreciation (3)
65 69 66 71 271 
   Other segment items (4)
954 1,102 1,131 1,156 4,343 
   Income tax provision (5)
58 72 85 89 304 
Segment net income$201 $247 $295 $305 $1,048 
Glass Innovations
Net Sales$1,406 $1,443 $1,560 $1,499 $5,908 
Less:
   Research, development and engineering expenses (2)
92 92 94 96 374 
   Depreciation (3)
137 147 142 154 580 
   Other segment items (4)
776 795 866 800 3,237 
   Income tax provision (5)
84 85 95 93 357 
Segment net income$317 $324 $363 $356 $1,360 
Automotive (1)
Net Sales$440 $460 $454 $440 $1,794 
Less:
   Research, development and engineering expenses (2)
35 35 38 38 146 
   Depreciation (3)
41 41 40 41 163 
   Other segment items (4)
278 284 290 281 1,133 
   Income tax provision (5)
18 21 18 17 74 
Segment net income$68 $79 $68 $63 $278 
Solar
Net Sales$206 $231 $319 $475 $1,231 
Less:
   Research, development and engineering expenses (2)
2 4 2 2 10 
   Depreciation (3)
17 26 29 30 102 
   Other segment items (4)
149 196 244 400 989 
   Income tax provision (5)
11 3 14 13 41 
Segment net income$27 $2 $30 $30 $89 
Life Sciences and Emerging Growth Businesses
Net Sales$272 $345 $287 $297 $1,201 
Less:
   Research, development and engineering expenses (2)
30 26 24 27 107 
   Depreciation (3)
29 27 27 26 109 
   Other segment items (4)
252 285 256 264 1,057 
   Income tax (benefit) provision (5)
(9)1 (5)(5)(18)
 Segment net (loss) income$(30)$6 $(15)$(15)$(54)
(1)There were no changes to the historical financial information for this segment.
(2)Research, development and engineering expenses include direct project spending that is identifiable to a segment.
(3)Depreciation expense includes an allocation of depreciation of corporate property not specifically identifiable to a segment.
(4)Other segment items primarily include the cost of materials, salaries, wages and benefits, including variable compensation, and selling, general and administrative expenses.
(5)Income tax provision (benefit) reflects a tax rate of 21%.

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Unaudited Financial Information Recast for Changes in the Segments
2024
(in millions)Q1Q2Q3Q4Total
Optical Communications (1)
Net Sales$930 $1,113 $1,246 $1,368 $4,657 
Less:
   Research, development and engineering expenses (2)
65 66 71 72 274 
   Depreciation (3)
66 66 69 66 267 
   Other segment items (4)
671 797 882 980 3,330 
   Income tax provision (5)
28 41 49 56 174 
 Segment net income$100 $143 $175 $194 $612 
Glass Innovations
Net Sales$1,326 $1,515 $1,563 $1,486 $5,890 
Less:
   Research, development and engineering expenses (2)
86 85 98 94 363 
   Depreciation (3)
152 150 149 148 599 
   Other segment items (4)
779 874 864 813 3,330 
   Income tax provision (5)
64 85 95 88 332 
 Segment net income$245 $321 $357 $343 $1,266 
Automotive (1)
Net Sales$491 $479 $430 $446 $1,846 
Less:
   Research, development and engineering expenses (2)
38 41 43 41 163 
   Depreciation (3)
43 44 44 43 174 
   Other segment items (4)
311 304 278 285 1,178 
   Income tax provision (5)
21 19 14 16 70 
 Segment net income$78 $71 $51 $61 $261 
Solar
Net Sales$216 $199 $194 $256 $865 
Less:
   Research, development and engineering expenses (2)
2 2 5 2 11 
   Depreciation (3)
16 16 17 16 65 
   Other segment items (4)
149 135 129 175 588 
   Income tax provision (5)
13 12 12 17 54 
 Segment net income$36 $34 $31 $46 $147 
Life Sciences and Emerging Growth Businesses
Net Sales$295 $298 $300 $318 $1,211 
Less:
   Research, development and engineering expenses (2)
25 28 31 32 116 
   Depreciation (3)
28 29 29 28 114 
   Other segment items (4)
249 260 247 281 1,037 
   Income tax benefit (5)
(1)(5)(3)(5)(14)
 Segment net loss$(6)$(14)$(4)$(18)$(42)
(1)There were no changes to the historical financial information for this segment.
(2)Research, development and engineering expenses include direct project spending that is identifiable to a segment.
(3)Depreciation expense includes an allocation of depreciation of corporate property not specifically identifiable to a segment.
(4)Other segment items primarily include the cost of materials, salaries, wages and benefits, including variable compensation, and selling, general and administrative expenses.
(5)Income tax provision (benefit) reflects a tax rate of 21%.









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Unaudited Financial Information Recast for Changes in the Segments

(in millions)Optical
Communications		Glass InnovationsAutomotiveSolarTotal Reportable SegmentsLife Sciences and Emerging Growth BusinessesTotal
For the year ended December 31, 2025
Investment in affiliated companies$5 $114 $— $— $119 $183 $302 
Segment assets (1)
$4,029 $9,236 $2,395 $2,734 $18,394 $1,470 $19,864 
Capital expenditures$459 $494 $76 $216 $1,245 $42 $1,287 
For the year ended December 31, 2024
Investment in affiliated companies$4 $105 $— $— $109 $181 $290 
Segment assets (1)
$3,506 $9,085 $2,366 $1,171 $16,128 $1,498 $17,626 
Capital expenditures$193 $363 $65 $150 $771 $26 $797 

(1)Segment assets include inventory, accounts receivable, property, plant and equipment, net of accumulated depreciation, and associated equity companies.














































Unaudited Financial Information Recast for Changes in the Segments

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The following tables present a reconciliation of net sales of reportable segments to consolidated net sales and net income of reportable segments to consolidated net income (loss) (in millions):

2025
Q1Q2Q3Q4Total
Net sales of reportable segments $3,407 $3,700 $3,985 $4,115 $15,207 
Net sales of Life Sciences and Emerging Growth Businesses272 345 287 297 1,201 
Impact of constant currency reporting (1)
(227)(183)(172)(197)(779)
Consolidated net sales$3,452 $3,862 $4,100 $4,215 $15,629 
Net income of reportable segments$613 $652 $756 $754 $2,775 
Net (loss) income of Life Sciences and Emerging Growth
   Businesses		(30)6 (15)(15)(54)
Unallocated amounts (3)
(398)(158)(271)(152)(979)
Net income $185 $500 $470 $587 $1,742 

2024
Q1Q2Q3Q4Total
Net sales of reportable segments $2,963 $3,306 $3,433 $3,556 $13,258 
Net sales of Life Sciences and Emerging Growth Businesses295 298 300 318 1,211 
Impact of constant currency reporting (1)
(283)(353)(342)(331)(1,309)
Impairment of upfront fees to a customer (2)
   (42)(42)
Consolidated net sales$2,975 $3,251 $3,391 $3,501 $13,118 
Net income of reportable segments$459 $569 $614 $644 $2,286 
Net loss of Life Sciences and Emerging Growth Businesses(6)(14)(4)(18)(42)
Unallocated amounts (3)
(228)(433)(705)(286)(1,652)
Net income (loss)$225 $122 $(95)$340 $592 

(1)This amount primarily represents the impact of foreign currency adjustments in the Glass Innovations segment.
(2)Amount represents non-cash charges to write-down upfront payments made to a customer.
(3)
Unallocated amounts have been combined into one number in this Exhibit. For reconciliation of all items, refer to Corning’s previously filed quarterly reports on Form 10-Q and annual report on Form 10-K.

The following table presents a reconciliation of total assets of reportable segments to consolidated total assets (in millions):

December 31,
20252024
Total assets of reportable segments$18,394 $16,128 
Total assets of Life Sciences and Emerging Growth Businesses1,470 1,498 
Unallocated amounts (1)
11,112 10,109 
Total assets$30,976 $27,735 
(1)
Unallocated amounts have been combined into one number in this Exhibit. For reconciliation of all items, refer to Corning’s previously filed annual report on Form 10-K.

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