CORNING INC /NY (GLW) FY2024 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-07-01 to 2024-09-30

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CORNING INC /NY cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Read chart description and values below for full signed amounts, including zero items.Accounts payable and other current liabilities → operating reconciliation: $318,000,000.00Depreciation → operating reconciliation: $310,000,000.00Translated earnings contract loss (gain), net → operating reconciliation: $157,000,000.00Translation gain on Japanese yen-denominated debt → operating reconciliation: $107,000,000.00Deferred income → operating reconciliation: $93,000,000.00Share-based compensation expense → operating reconciliation: $76,000,000.00Customer deposits and government incentives → operating reconciliation: $66,000,000.00Release of cumulative translation losses → operating reconciliation: $62,000,000.00Amortization of purchased intangibles → operating reconciliation: $31,000,000.00Loss on disposal of assets, net → operating reconciliation: $9,000,000.00operating reconciliation → Net cash from operating activities: $699,000,000.00operating reconciliation → Net income: $95,000,000.00operating reconciliation → Trade accounts receivable: $209,000,000.00operating reconciliation → Other current assets: $122,000,000.00operating reconciliation → Deferred tax (benefit) provision: $52,000,000.00operating reconciliation → Inventories: $45,000,000.00operating reconciliation → Other, net: $7,000,000.00Realized gains on translated earnings contracts and other → investing reconciliation: $71,000,000.00Net cash used in investing activities → investing reconciliation: $199,000,000.00investing reconciliation → Capital expenditures: $217,000,000.00investing reconciliation → Other, net: $53,000,000.00Net cash used in financing activities → financing reconciliation: $332,000,000.00Proceeds from issuance of debt → financing reconciliation: $153,000,000.00Proceeds from exercise of stock options → financing reconciliation: $23,000,000.00financing reconciliation → Dividends paid: $242,000,000.00financing reconciliation → Repayments of debt: $212,000,000.00financing reconciliation → Purchases of common stock for treasury: $30,000,000.00financing reconciliation → Payments of employee withholding tax on stock awards: $18,000,000.00financing reconciliation → Other, net: $6,000,000.00Exchange-rate effect → Cash sources and uses: $26,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,419,000,000.00Net cash from operating activities → Cash sources and uses: $699,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,613,000,000.00Cash sources and uses → Net cash used in investing activities: $199,000,000.00Cash sources and uses → Net cash used in financing activities: $332,000,000.00Share-based compensation expense: $76,000,000.00Stock-based compensation+$76.00 MTranslation gain on Japanese yen-denominated debt: $107,000,000.00Translation gain on Japanese yen-denominated debt+$107.00 MAmortization of purchased intangibles: $31,000,000.00Intangible amortization+$31.00 MLoss on disposal of assets, net: $9,000,000.00Asset disposal gain & loss+$9.00 MOther, net: -$7,000,000.00Other working capital, net−$7.00 MDepreciation: $310,000,000.00Depreciation expense+$310.00 MCustomer deposits and government incentives: $66,000,000.00Customer deposits & incentives+$66.00 MNet income: -$95,000,000.00Net income−$95.00 MDeferred income: $93,000,000.00Deferred income+$93.00 MOther current assets: -$122,000,000.00Other current assets−$122.00 MAccounts payable and other current liabilities: $318,000,000.00Payables & accrued liabilities+$318.00 MTrade accounts receivable: -$209,000,000.00Accounts receivable−$209.00 MInventories: -$45,000,000.00Inventories−$45.00 MRelease of cumulative translation losses: $62,000,000.00Release of cumulative translation losses+$62.00 MDeferred tax (benefit) provision: -$52,000,000.00Deferred income taxes−$52.00 MTranslated earnings contract loss (gain), net: $157,000,000.00Translated earnings contract loss (gain), net+$157.00 MNet cash from operating activities: $699,000,000.00Operating cash+$699.00 Moperating reconciliation: $1,229,000,000.00Proceeds from cross currency swap - Currency Swap: $0.00Dividends paid: -$242,000,000.00Ordinary dividends paid−$242.00 MOther, net: -$6,000,000.00Other financing, net−$6.00 MRepayments of debt: -$212,000,000.00Debt repaid−$212.00 MProceeds from exercise of stock options: $23,000,000.00Stock option exercises+$23.00 MProceeds from issuance of debt: $153,000,000.00Debt issued+$153.00 MPurchases of common stock for treasury: -$30,000,000.00Common stock repurchases−$30.00 MPayments of employee withholding tax on stock awards: -$18,000,000.00Stock-award tax withholding−$18.00 MNet cash used in financing activities: -$332,000,000.00. Cash required to fund net payments.Financing cash−$332.00 Mfinancing reconciliation: $508,000,000.00Realized gains on translated earnings contracts and other: $71,000,000.00Investing derivative proceeds+$71.00 MCapital expenditures: -$217,000,000.00Capital improvements−$217.00 MOther, net: -$53,000,000.00Other investing, net−$53.00 MNet cash used in investing activities: -$199,000,000.00. Cash required to fund net payments.Investing cash−$199.00 Minvesting reconciliation: $270,000,000.00Cash sources and uses: $2,144,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,419,000,000.00Beginning cash$1.42 BEnding cash: Cash, cash equivalents, and restricted cash: $1,613,000,000.00Ending cash$1.61 BExchange-rate effect: $26,000,000.00FX effect+$26.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsNet loss −$95.00M + net operating adjustments $794.00M = operating cash +$699.00MFree cash flowNot availableCash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change+$194.00 MEnding cash − beginning cash
Chart details

CORNING INC /NY cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024

Cash flows for Jul 1, 2024 through Sep 30, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 30, 2024. Ending cash: Sep 30, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 30, 2024
1,419,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
699,000,000 US dollars. Net cash provided.
Share-based compensation expense
76,000,000 US dollars
Translation gain on Japanese yen-denominated debt
107,000,000 US dollars
Amortization of purchased intangibles
31,000,000 US dollars
Loss on disposal of assets, net
9,000,000 US dollars
Other, net
negative 7,000,000 US dollars
Depreciation
310,000,000 US dollars
Customer deposits and government incentives
66,000,000 US dollars
Net income
negative 95,000,000 US dollars
Deferred income
93,000,000 US dollars
Other current assets
negative 122,000,000 US dollars
Accounts payable and other current liabilities
318,000,000 US dollars
Trade accounts receivable
negative 209,000,000 US dollars
Inventories
negative 45,000,000 US dollars
Release of cumulative translation losses
62,000,000 US dollars
Deferred tax (benefit) provision
negative 52,000,000 US dollars
Translated earnings contract loss (gain), net
157,000,000 US dollars
Investing activities
negative 199,000,000 US dollars. Net cash used.
Realized gains on translated earnings contracts and other
71,000,000 US dollars
Capital expenditures
negative 217,000,000 US dollars
Other, net
negative 53,000,000 US dollars
Financing activities
negative 332,000,000 US dollars. Net cash used.
Proceeds from cross currency swap - Currency Swap
0 US dollars
Dividends paid
negative 242,000,000 US dollars
Other, net
negative 6,000,000 US dollars
Repayments of debt
negative 212,000,000 US dollars
Proceeds from exercise of stock options
23,000,000 US dollars
Proceeds from issuance of debt
153,000,000 US dollars
Purchases of common stock for treasury
negative 30,000,000 US dollars
Payments of employee withholding tax on stock awards
negative 18,000,000 US dollars
Operating adjustment reconciliation
1,229,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
508,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
270,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
26,000,000 US dollars
Ending cash on Sep 30, 2024
1,613,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,144,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
194,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$95.00M + net operating adjustments $794.00M = operating cash +$699.00M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
CORNING INC /NY (GLW) FY2024 Q3 Statement of Cash Flows Sankey chart
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