CORNING INC /NYGLW

CORNING INC /NY Revenue Disclosure

10-KFiled Feb 12, 20262 min read
Revenue
Disaggregated Revenue
The following table shows revenue by major product category, similar to the Company’s reportable segment disclosure. Within each product category, contract terms, conditions and economic factors affecting the nature, amount, timing and uncertainty around revenue recognition and cash flows are substantially similar. The commercial markets and selling channels are also similar. Except for an insignificant number of telecommunications products, product category revenues are recognized at the point in time when control transfers to the customer.
The following table presents revenues by product category (in millions):
Year ended December 31,
202520242023
Optical communications products$6,274 $4,657 $4,012 
Display products2,965 2,727 2,694 
Specialty material products2,194 2,000 1,854 
Automotive products1,777 1,704 1,787 
Life science products959 933 922 
Polycrystalline silicon products955 865 1,014 
All other products505 232 305 
Total Revenue$15,629 $13,118 $12,588 
Customer Deposits
As of December 31, 2025 and 2024, Corning had customer deposits of approximately $1.5 billion and $1.1 billion, respectively. Most of these customer deposits were non-refundable and allowed customers to secure rights to products produced by Corning under long-term supply agreements, generally over a period of up to 10 years. As products are delivered to customers, Corning will recognize revenue and reduce the amount of the customer deposit liability.
For the years ended December 31, 2025, 2024 and 2023, customer deposits recognized were $142 million, $195 million and $103 million, respectively. For the year ended December 31, 2025, the Company received $490 million relating to new customer contracts. The amounts received in the years ended December 31, 2024 and 2023 were not material.
Refer to Note 9 (Other Assets and Other Liabilities) for additional information.
Deferred Revenue
As of December 31, 2025 and 2024, Corning had deferred revenue of approximately $775 million and $833 million, respectively. Deferred revenue was primarily related to the performance obligations of non-refundable consideration previously received by HSG from its customers under long term supply agreements.
Deferred revenue is tracked on a per-customer contract-unit basis. As customers take delivery of the committed volumes under the terms of the contract, a per-unit amount of deferred revenue is recognized when control of the promised goods is transferred to the customer based upon the units delivered compared to the remaining contractual units. For the year ended December 31, 2025, the Company received $119 million relating to new customer contracts and recognized $177 million of deferred revenue. The amounts recognized or received during the years ended December 31, 2024 and 2023 were not material.
Refer to Note 9 (Other Assets and Other Liabilities) for additional information.

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 13, 2025
2023Feb 12, 2024
2022Feb 13, 2023
2021Feb 14, 2022
2020Feb 12, 2021
2019Feb 18, 2020
2018Feb 12, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

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