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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,779 $ 1,671
Trade accounts receivable, net of doubtful accounts - $30 and $40 1,572 1,721
Inventories (Note 4) 2,666 2,904
Other current assets (Notes 9 and 13) 1,195 1,157
Total current assets 7,212 7,453
Property, plant and equipment, net of accumulated depreciation - $14,553 and $14,147 (Note 7) [1] 14,630 15,371
Goodwill (Note 8) 2,380 2,394
Other intangible assets, net (Note 8) 905 1,029
Deferred income taxes (Note 6) 1,153 1,073
Other assets (Notes 9 and 13) 2,220 2,179
Total Assets 28,500 29,499 Close
Current liabilities:    
Current portion of long-term debt and short-term borrowings (Note 10) 320 224
Accounts payable 1,466 1,804
Other accrued liabilities (Notes 9 and 12) 2,533 3,147
Total current liabilities 4,319 5,175
Long-term debt (Note 10) 7,206 6,687
Postretirement benefits other than pensions (Note 11) 398 407
Other liabilities (Notes 9 and 12) 4,709 4,955
Total liabilities 16,632 17,224 Close
Commitments and contingencies (Note 12)
Shareholders’ equity (Note 14):    
Common stock – Par value $0.50 per share; Shares authorized 3.8 billion; Shares issued: 1.8 billion and 1.8 billion 916 910
Additional paid-in capital – common stock 16,929 16,682
Retained earnings 16,391 16,778
Treasury stock, at cost; Shares held: 980 million and 977 million (20,637) (20,532)
Accumulated other comprehensive loss (2,048) (1,830)
Total Corning Incorporated shareholders’ equity 11,551 12,008
Non-controlling interest 317 267
Total equity 11,868 12,275 Close
Total Liabilities and Equity $ 28,500 $ 29,499
[1] Approximately $40 million, $48 million and $36 million of interest costs were capitalized as part of property, plant and equipment during the years ended December 31, 2023, 2022 and 2021, respectively.