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GLWCorning Inc.

Technology · Wire & Cable · NYSE
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The 10-K against last year's

87 changes: 13 added, 15 removed, 59 reworded

10-K Feb 12, 2026 vs Feb 13, 2025
Risk FactorsRedline ↓
3.9%
of the text changed · 4,853 words now
18.7%
of the text changed · 9,391 words now
Legal ProceedingsRedline ↓
18.4%
of the text changed · 467 words now
Accounting PoliciesRedline ↓
16.1%
of the text changed · 6,741 words now

10-K 0000024741-26-000124 (2026-02-12) vs 10-K 0001628280-25-005347 (2025-02-13)

The redline

The paragraph that changed most in each section

Marked against last year's 10-K: cut words struck through, new words highlighted and underlined.

MD&A 157 words changed in this paragraph; it is 34% similar to last year's version.
Income before income taxes remained flat for the year ended December 31, 2024 increased $1.2 billion as compared to 2023, 2024, driven by an increase in operating income of $245 million $1.1 billion as a result of the increase in net sales and cost of sales, gross margin, as discussed above, partially offset by the increase in selling, general and administrative expenses, as discussed above. The improved operating income for the year ended December 31, 2024 as compared to 2023 is offset by increases of non-operating expenses of $248 million, primarily due to the recognition of $145 million of non-cash cumulative foreign currency translation losses in 2024 related to the substantial liquidation and disposition of foreign entities, which was recorded in other (expense) income, net in the consolidated statements of income, and $49 million of non-cash charges recognized in 2024 in one of our Emerging Growth Businesses relating to a customer that recently entered into a multi-jurisdictional restructuring effort including insolvency filings in certain countries. These charges primarily relate to the full write-down of upfront payments made to the customer, which were determined to be nonrecoverable, and recorded as a charge to net sales in the consolidated statements of income.

Source: Item 7, 10-K 0000024741-26-000124 vs Item 7, 10-K 0001628280-25-005347

Accounting Policies 133 words changed in this paragraph; it is 43% similar to last year's version.
The Company receives government assistance, typically in the form of cash Government incentives primarily for capital expansion projects and tax credits that are refundable or transferable (collectively, “incentives”). Incentives are recognized when it is probable that the Company will comply with any contractual conditions and that the government incentives will be received. Incentives received or utilized to reduce current or future tax liabilities. Government incentives relating to property, plant and equipment are deducted from the carrying value of the relevant asset and are recognized against depreciation over the useful life of the asset. Government incentives relating to production or project costs are recognized on the consolidated statements of income as an offset to the related expense. Government incentives are classified as an asset when they are recognized but have not been received and as a liability when they are received but have not been recognized. Incentives relating to the purchase of property, plant and equipment are deducted from the cost of the relevant asset. Incentives relating to project costs or other expenses are recognized in the statements of income as an offset to the related expense.

Source: 10-K text, Note 1 – Summary of Significant Accounting Policies, 10-K 0000024741-26-000124 vs 10-K text, Note 1 – Summary of Significant Accounting Policies, 10-K 0001628280-25-005347

Risk Factors 77 words changed in this paragraph; it is 74% similar to last year's version.
Any significant disruption, breakdown, intrusion, interruption or corruption, data breach, or compromise to the accessibility, security or integrity of our or our providers’ IT systems, or the misappropriation or disclosure of any confidential, proprietary or personally identifiable information, could result in the loss of data or intellectual property, equipment or systems damage, downtime, safety related issues and could have a material adverse effect on our business, including by harming our competitive position and reputation, disrupting our manufacturing, reducing the value of our investment in research and development and other strategic initiatives, impairing our ability to access suppliers, contract manufacturers, customers and cloud-based services, subjecting us to litigation or regulatory investigations or fines, increasing the costs of compliance and remediation, or otherwise adversely affecting our business. We may be required to invest significant additional resources to comply with evolving cybersecurity regulations and to modify and enhance our IT systems, information security and controls, and to investigate and remediate any security vulnerabilities. Any losses, costs or liabilities may not be covered by, or may exceed the coverage limits of, any, or all, of our applicable insurance policies.

Source: Item 1A, 10-K 0000024741-26-000124 vs Item 1A, 10-K 0001628280-25-005347

Legal Proceedings 68 words changed in this paragraph; it is 64% similar to last year's version.
Beginning in September 2019, The Dow Chemical Company (“Dow”) formally notified Corning of certain environmental matters for which Dow asserts that it has or will experience losses arising from remediation and response at a number of sites. Subject to certain conditions and limits, Corning may be have been required to indemnify Dow for up to 50 % of such losses. As of December 31, 2024, In September 2025, Corning has determined that entered into a potential liability for these settlement agreement with Dow to fully resolve all outstanding environmental matters is probable and previously asserted under historical indemnification provisions. The resolution did not have a material impact on the amount reserved was not material. Company’s consolidated financial statements for the periods presented. No further obligation remains under the settlement agreement.

Source: Item 3, via Note 12 – Commitments, Contingencies and Guarantees, 10-K 0000024741-26-000124 vs Item 3, via Note 12 – Commitments, Contingencies and Guarantees, 10-K 0001628280-25-005347

Every change, by type

Sentences and paragraphs added, removed or reworded

Sentences and paragraphs of GLW's Risk Factors and MD&A, 10-K 2026-02-12 against 10-K 2025-02-13. Each links to the text at sec.gov.

AddedRisk Factors
•Implementation of emerging technologies, such as artificial intelligence and machine learning, as part of the manufacturing process by us or members of our supply chain; and

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedRisk Factors
Launching new businesses involves inherent risks, including execution challenges, regulatory compliance, supply chain complexity, and uncertainty in market demand and competitive conditions. These factors may affect our ability to achieve anticipated returns and strategic objectives. In connection with our recent entry into the solar industry, we face risks specific to this sector, such as dependence on government manufacturing tax incentives, exposure to policy and regulatory changes, and complexities in sourcing specialized components. These factors, along with market volatility and evolving industry standards, could further impact the profitability of this business.

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
Our capabilities are versatile and synergistic, allowing Corning to evolve to meet changing market needs, while also helping customers capture new opportunities in dynamic industries. Today, Corning’s markets include optical communications, display, mobile consumer electronics, automotive, life sciences, semiconductors and solar. Corning’s industry-leading products include damage-resistant cover materials for mobile devices; precision glass for advanced displays; optical fiber, cable and connectivity solutions for advanced communications networks, such as fiber to the home and data centers, enabling artificial intelligence and connections around the world; trusted products to accelerate drug discovery and delivery; and clean-air technologies and technical glass for cars and trucks.

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
In the third quarter of 2023, we introduced our Springboard plan to grow sales and enhance our profitability base. We communicated a high-confidence plan to add $3 billion in incremental annualized core sales by the end of 2026 (as compared to our Springboard starting point), and in March 2025 we upgraded this high-confidence plan to $4 billion. We also set a core operating margin target of 20% by the end of 2026. The fourth quarter of 2025 marked the second anniversary of our Springboard plan, and we believe it has been a tremendous success to date. Since its launch, we have added significant annualized core sales and expanded our core operating margin, and as of the fourth quarter of 2025, we achieved both our growth and profitability targets a full year ahead of plan. Our achievement of both of these key milestones ahead of schedule serves as an example of how we have transformed the Company’s financial profile over the last two years. Overall, we believe we have established a firm foundation from which to launch future profitable growth. We see remarkable demand for our innovations and manufacturing capabilities, which we believe will lead to additional growth opportunities through 2026 and beyond. We therefore expect to increase both our capacity and technology capabilities as required to achieve our goals, while sharing risk appropriately to achieve the returns that underpin our Springboard plan.

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
Income before tax Net income Income before tax Net income Income before tax Net income 2025 2024 2025 vs. 2024 Hedges related to translated earnings: Realized gain, net (1) (2) $ 4 $3 $ 194 $149 $ (190) $ (146) Unrealized gain (loss), net 146 111 (111) (85) 257 196 Total translated earnings contract gain, net $ 150 $114 $ 83 $64 $ 67 $ 50

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the United States. The OBBBA includes various tax law changes, including the permanent extension of certain provisions originally enacted under the Tax Cuts and Jobs Act, modifications to the international tax framework and the reinstatement of favorable treatment for certain business tax provisions. These include 100% bonus depreciation, immediate expensing of domestic research and development costs and revised limitations on the deductibility of business interest expense. The provisions of the OBBBA are subject to multiple effective dates, with some effective beginning in 2025 and others phased in through 2027. The Company evaluated the provisions of the OBBBA and determined that they do not have a material impact on our effective tax rate in 2025.

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
The Internal Revenue Service (“IRS”) is currently conducting examinations of the Company’s U.S. federal income tax returns for the years 2015 through 2018 and 2019 through 2020, including the one-time transition tax enacted under the Tax Cuts and Jobs Act of 2017. If challenged, Corning believes that it is more likely than not to sustain its position relating to these matters. However, if the Company is ultimately unsuccessful in defending its position, the impact could be material to its consolidated financial statements.

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
As of January 1, 2025, the Company began managing its Automotive Glass Solutions business together with its Environmental Technologies business, forming its Automotive segment, and its Display Technologies segment was renamed to “Display.”

Read it in 10-K 2026-02-12 at sec.gov ↗

Show the other 5
AddedMD&A
The decrease in segment net sales was primarily due to the impact from resetting our core rate from 107 to 120 Japanese yen to USD as the comparative period results were not recast and are presented at the 107 Japanese yen to USD core rate.To offset the change in core rate and the weaker Japanese yen environment, we implemented pricing actions in the second half of 2024. The effects of the price increases on slightly higher volumes in 2025, compared to the prior period, substantially offset the impact of resetting the core rate.

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
(12)Equity in losses of affiliated companies: Amount reflects costs not related to continuing operations of affiliated companies, such as restructuring, impairment losses, inventory adjustments, other charges and credits.

Read it in 10-K 2026-02-12 at sec.gov ↗

AddedMD&A
On July 28, 2025, the Company entered into an agreement for a new revolving credit facility (the “Revolving Credit Facility”), which replaced the Companys $1.5 billion revolving credit facility agreement dated June 6, 2022. The Revolving Credit Facility provides a committed $1.5 billion in unsecured multi-currency line of credit and expires July 28, 2030. As of December 31, 2025, there were no outstanding amounts under the Revolving Credit Facility.

Read it in 10-K 2026-02-12 at sec.gov ↗

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