3. Commitments, Contingencies and Guarantees Corning is a defendant in various lawsuits and is subject to various claims that arise in the normal course of business, the most significant of which are summarized below. In the opinion of management, the likelihood that the ultimate disposition of these matters will have a material adverse effect on Cornings consolidated financial position, liquidity, or results of operations, is remote. Asbestos Claims Corning and PPG Industries, Inc. each owned 50 % of the capital stock of Pittsburgh Corning Corporation (PCC). PCC filed for Chapter 11 reorganization in 2000, and the Modified Third Amended Plan of Reorganization for PCC (the Plan) became effective in April 2016. At December 31, 2016, the Companys liability under the Plan was $ 290 million, which is required to be paid through a series of fixed payments that began in the second quarter of 2017. Payments of $ 50 million and $ 35 million were made in June 2019 and June 2018, respectively. The total amount of remaining payments due in years 2020 through 2023 is $ 135 million, of which $ 35 million will be paid in the second quarter of 2020 and is classified as a current liability. The remaining $ 100 million is classified as a non-current liability. Non-PCC Asbestos Claims Corning is a defendant in certain cases alleging injuries from asbestos unrelated to PCC (the non-PCC asbestos claims) which had been stayed pending the confirmation of the Plan. The stay was lifted on August 25, 2016. At March 31, 2020 and December 31, 2019, the amount of the reserve for these non-PCC asbestos claims was estimated to be $ 98 million. The reserve balance as of March 31, 2020 represents the undiscounted projection of claims and related legal fees for the estimated life of the litigation. Dow Corning Chapter 11 Related Matters Until June 1, 2016, Corning and The Dow Chemical Company (Dow) each owned 50 % of the common stock of Dow Corning Corporation (Dow Corning). On May 31, 2016, Corning and Dow realigned their ownership interest in Dow Corning. Following the realignment, Corning no longer owned any interest in Dow Corning. With the realignment, Corning agreed to indemnify Dow Corning for 50 % of Dow Cornings non-ordinary course, pre-closing liabilities to the extent such liabilities exceed the amounts reserved for them by Dow Corning as of May 31, 2016, subject to certain conditions and limits. Dow Corning Breast Implant Litigation In May 1995, Dow Corning filed for bankruptcy protection to address pending and claimed liabilities arising from many thousands of breast implant product lawsuits. On June 1, 2004, Dow Corning emerged from Chapter 11 with a Plan of Reorganization (the Plan) which provided for the settlement or other resolution of implant claims. The Plan also includes releases for Corning and Dow as shareholders in exchange for contributions to the Plan. Under the terms of the Plan, Dow Corning has established and funded a Settlement Trust and a Litigation Facility, referred to above, to provide a means for tort claimants to settle or litigate their claims. Inclusive of insurance, Dow Corning has paid approximately $ 1.8 billion to the Settlement Trust. As of May 31, 2016, Dow Corning had recorded a reserve for breast implant litigation of $ 290 million. In the event Dow Cornings total liability for these claims exceeds such amount, Corning may be required to indemnify Dow Corning for up to 50 % of the excess liability, subject to certain conditions and limits. As of March 31, 2020, Dow Corning had recorded a reserve for breast implant litigation of $ 165 million. As a result, Corning does not believe its indemnity obligation for Dow Cornings breast implant litigation liability, if any, will be material. Dow Corning Bankruptcy Pendency Interest Claims As a separate matter arising from the bankruptcy proceedings, Dow Corning has been defending claims asserted by commercial creditors who claimed additional compounded interest at default and state statutory judgment rates as well as attorneys fees and other enforcement costs, during the period from May 1995 through June 2004. As of May 31, 2016, Dow Corning had recorded a reserve for these claims of $ 107 million. Dow Corning settled those claims as of September 30, 2019 and received approval of the settlement from the bankruptcy court. Corning does not believe its indemnity obligation, if any, for Dow Cornings liability to be material. Dow Corning Environmental Claims In September 2019, Dow Corning formally notified Corning of certain environmental matters for which Dow Corning asserts that it has or will experience losses arising from remediation and response at a number of sites. In the event Dow Corning incurs liability for these claims, Corning may be required to indemnify Dow Corning for up to 50 % of that liability, subject to certain conditions and limits. As of March 31, 2020, the Company cannot estimate the fair value of the indemnification owed to Dow Corning, if any. Environmental Litigation Corning has been named by the Environmental Protection Agency (the Agency) under the Superfund Act, or by state governments under similar state laws, as a potentially responsible party for 15 active hazardous waste sites. Under the Superfund Act, all parties who may have contributed any waste to a hazardous waste site, identified by the Agency, are jointly and severally liable for the cost of cleanup unless the Agency agrees otherwise. It is Cornings policy to accrue for its estimated liability related to Superfund sites and other environmental liabilities related to property owned by Corning based on expert analysis and continual monitoring by both internal and external consultants. At March 31, 2020 and December 31, 2019, Corning had accrued approximately $ 40 million and $ 41 million, respectively, for the undiscounted estimated liability for environmental cleanup and related litigation. Based upon the information developed to date, management believes that the accrued reserve is a reasonable estimate of the Companys liability and that the risk of an additional loss in an amount materially higher than that accrued is remote.