CORNING INC (GLW) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Display Technologies						3,288	3,086	3,851
Environmental Technologies						1,032	1,053	1,092
Specialty Materials						1,124	1,107	1,205
Other						3,946	3,865	3,567
Total revenues	14,082	11,303	11,503	4,347	10,116	9,390	9,111	9,715
Revenue growth [+]	24.6%	-1.7%	164.6%	-57.0%	7.7%	3.1%	-6.2%	24.2%
Display Technologies						6.5%	-19.9%	51.3%
Environmental Technologies						-2.0%	-3.6%	18.8%
Specialty Materials						1.5%	-8.1%	3.0%
Life Sciences						2.2%	-4.8%	1.3%
Cost of goods sold	9,019	7,772	7,468	0	0	5,627	5,458	5,663
Gross profit	5,063	3,531	4,035	4,347	10,116	3,763	3,653	4,052
Gross margin	36.0%	31.2%	35.1%	100.0%	100.0%	40.1%	40.1%	41.7%
Selling, general and administrative	1,827	1,747	1,585	-114		1,462	1,508	1,202
Research and development	995	1,154	1,031			736	769	815
Equity in earnings	35	-25	17			284	299	266
Other operating expenses	19	-706	-326	2,881	8,304	64	54	-216
EBITDA [+]	3,738	2,831	3,265			2,980	2,805	3,717
EBITDA growth	32.0%	-13.3%	106.6%	-12.8%	-39.2%	6.2%	-24.5%	24.4%
EBITDA margin	26.5%	25.0%	28.4%	36.3%	17.9%	31.7%	30.8%	38.3%
Depreciation	1,352	1,399	1,390			1,131	1,130	1,167
EBITA	2,386	1,432	1,875	1,580	1,812	1,849	1,675	2,550
EBITA margin	16.9%	12.7%	16.3%	36.3%	17.9%	19.7%	18.4%	26.2%
Amortization of intangibles	129	121	113			64	54	33
EBIT [+]	2,257	1,311	1,762	1,580	1,812	1,785	1,621	2,517
EBIT growth	72.2%	-25.6%	11.5%	-12.8%	1.5%	10.1%	-35.6%	26.8%
EBIT margin	16.0%	11.6%	15.3%	36.3%	17.9%	19.0%	17.8%	25.9%
Non-recurring items [+]	110	827	439	-114		77		320
Asset impairment	110	827	439	-114		77		71
Interest expense, net [+]	289	261	200	191	155	127	119	97
Interest expense	300	276	221	191	155	159	140	123
Interest income	11	15	21			32	21	26
Other income (expense), net [+]	539	400	93			2,111	-16	1,468
Gain (loss) on derivative instruments							80	1,369
Other	185	-60	-155			-117	-96	99
Pre-tax income	2,397	623	1,216	1,503	1,657	3,692	1,486	3,568
Income taxes	491	111	256	437	2,154	-3	147	1,096
Tax rate	20.5%	17.8%	21.1%	29.1%	130.0%		9.9%	30.7%
Net income	1,079	414	862	1,066	-497	3,695	1,339	2,472
Net margin	7.7%	3.7%	7.5%	24.5%	-4.9%	39.4%	14.7%	25.4%

Basic EPS [+]	$1.30	$0.54	$1.11	$1.31	($0.56)	$3.62	$1.10	$1.89
Growth	139.5%	-51.0%	-15.0%	-335.3%	-115.3%	229.8%	-42.0%	40.3%
Diluted EPS [+]	$1.28	$0.54	$0.96	$1.13	($0.56)	$3.23	$1.00	$1.73
Growth	138.4%	-44.1%	-15.4%	-304.0%	-117.2%	224.0%	-42.4%	29.1%

Dividends per share [+]	$0.96	$0.88	$0.80	$0.72	$0.73	$0.54	$0.36	$0.52
Growth	9.1%	10.0%	11.1%	-1.0%	34.7%	50.0%	-30.8%	33.3%

Shares outstanding (basic) [+]	828	761	776	816	895	1,020	1,219	1,305
Growth	8.8%	-1.9%	-4.9%	-8.8%	-12.3%	-16.3%	-6.6%	-10.1%
Shares outstanding (diluted) [+]	844	772	899	941	895	1,144	1,343	1,427
Growth	9.3%	-14.1%	-4.5%	5.1%	-21.8%	-14.8%	-5.9%	-2.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.