International Business Machines Corporation (IBM) financial statements (2021 and earlier)

Company profile

Business Address 1 NEW ORCHARD ROAD
ARMONK, NY 10504
State of Incorp. NY
Fiscal Year End December 31
SIC 357 - Computer And Office Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13,8128,86811,99712,5808,5278,1948,476
Cash and cash equivalents13,2128,17211,37911,9727,8267,6868,476
Short-term investments600696618608701508 
Receivables18,73823,79530,56331,63029,24528,55431,831
Inventory, net of allowances, customer advances and progress billings1,8391,6191,6821,5831,5531,5512,103
Inventory1,8391,6191,6821,5831,5531,5512,103
Prepaid expense     496518
Contract with customer, asset497492470
Capitalized contract cost2,1071,8962,300
Other undisclosed current assets2,1721,7502,1343,9424,5633,7096,494
Total current assets:39,16538,42049,14649,73543,88842,50449,422
Noncurrent Assets
Operating lease, right-of-use asset4,6864,996
Nontrade receivables777664626590477  
Property, plant and equipment10,04010,01010,79211,11610,83010,72710,771
Long-term investments and receivables7,2588,8969,3409,6879,14010,21311,459
Long-term investments172184192137119200350
Accounts and financing receivable, after allowance for credit loss7,0868,7129,1489,5509,02110,01311,109
Intangible assets, net (including goodwill)73,41373,45739,35240,53040,88735,50833,660
Goodwill59,61758,22236,26536,78836,19932,02130,556
Intangible assets, net (excluding goodwill)13,79615,2353,0873,7424,6883,4873,104
Prepaid expense   300230 332
Capitalized contract cost, net2,4492,4722,676
Derivative instruments and hedges15194347757594 681
Regulated entity, other noncurrent assets     74 
Deposits noncurrent assets239242268271267 300
Deferred costs   1,5371,497  
Deferred income tax assets9,2415,182
Other noncurrent assets     5,1875,603
Prepaid pension costs3,0341,7342,160
Other undisclosed noncurrent assets8,5527,75310,83510,8336,6264,5483,144
Total noncurrent assets:116,806113,76674,23675,62173,58267,99168,110
TOTAL ASSETS:155,971152,186123,382125,356117,470110,495117,532
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities11,64911,14112,91414,31413,0218,87511,948
Accounts payable4,9084,8966,5586,4516,2096,0286,864
Employee-related liabilities3,4403,4063,3103,6443,577  
Taxes payable3,3012,8393,0464,2193,2352,8475,084
Deferred revenue12,83312,026
Debt7,1838,79710,2076,9877,5136,4615,731
Deferred compensation liability     3,5604,031
Deferred revenue and credits11,55211,03511,02111,877
Contract with customer, liability11,165
Other liabilities     4,3536,013
Other undisclosed current liabilities8,2045,7373,9414,5104,706(1) 
Total current liabilities:39,86937,70138,22737,36336,27534,26939,600
Noncurrent Liabilities
Long-term debt and lease obligation, including:54,35554,10235,60539,83734,65533,42835,073
Long-term debt, excluding current maturities54,355 35,60539,83734,65533,42835,073
Operating lease, liability3,5743,879
Other undisclosed long-term debt and lease obligation(3,574)50,223     
Liabilities, other than long-term debt37,44635,51932,62130,43128,14728,37435,207
Deferred revenue and credits3,7463,6003,7713,691
Accounts payable and accrued liabilities      91
Deferred revenue4,3013,851
Contract with customer, liability3,445
Asset retirement obligations      136
Deferred tax liabilities, net    288
Liability for uncertainty in income taxes      3,146
Liability, pension and other postretirement and postemployment benefits18,24817,14217,00216,72017,07016,50418,261
Accrued environmental loss contingencies      240
Restructuring reserve      431
Other liabilities14,89714,52612,1749,9657,4778,0998,892
Derivative instruments and hedges, liabilities      31
Other undisclosed noncurrent liabilities3,5743,880(1) 1 (4,362)
Total noncurrent liabilities:95,37593,50168,22570,26862,80361,80265,918
Total liabilities:135,244131,202106,452107,63199,07896,071105,518
Stockholders' equity
Stockholders' equity attributable to parent, including:20,59720,84116,79617,59418,24614,26211,868
Treasury stock, value(169,339)(169,413)(168,071)(163,507)(159,050)(155,518)(150,715)
Accumulated other comprehensive loss(29,337)(28,597)(29,490)(26,592)(29,398)(29,607)(27,875)
Retained earnings162,717162,954159,206153,126152,759146,124137,793
Other undisclosed stockholders' equity attributable to parent56,55655,89755,15154,56753,93553,26352,665
Stockholders' equity attributable to noncontrolling interest129144134131146162146
Other undisclosed stockholders' equity1 (1)    
Total stockholders' equity:20,72720,98516,92917,72518,39214,42412,014
Other undisclosed liabilities and equity (1)1    
TOTAL LIABILITIES AND EQUITY:155,971152,186123,382125,356117,470110,495117,532

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues73,62077,14779,59179,13979,91981,74192,793
Revenue, net77,42478,21079,87890,736
Cost of revenue(38,046)(40,659)(42,655)(42,913)(41,625)(41,057)(46,386)
Cost of goods and services sold(439)(591) (41,703)(40,580)(40,046)(45,346)
Other undisclosed gross profit1  1   
Gross profit:35,57536,48836,93636,22738,29440,68446,407
Operating expenses(29,415)(26,593)(24,745)(25,894)(26,820)(25,677)(29,964)
Operating income:6,1609,89512,19110,33311,47415,00716,443
Interest and debt expense(1,288)(1,344)(723)(615)(630)(468)(484)
Income from continuing operations before equity method investments, income taxes:4,8728,55111,4689,71810,84414,53915,959
Other undisclosed income (loss) from continuing operations before income taxes(235)1,615(126)1,6821,4861,4064,027
Income from continuing operations before income taxes:4,63710,16611,34211,40012,33015,94519,986
Income tax expense (benefit)864(731)(2,619)(5,642)(449)(2,581)(4,234)
Other undisclosed loss from continuing operations      (1)
Income from continuing operations:5,5019,4358,7235,75811,88113,36415,751
Income (loss) from discontinued operations4391(2)3(9)(174)(3,729)
Income before gain (loss) on sale of properties:5,5059,8268,7215,76111,87213,19012,022
Other undisclosed net income (loss)85(395)7(8)   
Net income:5,5909,4318,7285,75311,87213,19012,022
Net loss attributable to noncontrolling interest      (6)
Net income attributable to parent:5,5909,4318,7285,75311,87213,19012,016
Other undisclosed net income available to common stockholders, basic      6
Net income available to common stockholders, basic:5,5909,4318,7285,75311,87213,19012,022
Dilutive securities, effect on basic earnings per share  (6)(2) (1)(3)
Other undisclosed net income (loss) available to common stockholders, diluted(2)  1  1
Net income available to common stockholders, diluted:5,5889,4318,7225,75211,87213,18912,020

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:5,5909,4318,7285,75311,87213,19012,022
Other comprehensive income (loss)(740)893(476)2,806209(1,731)(6,274)
Comprehensive income:4,85010,3248,2528,55912,08111,4595,748
Comprehensive loss, net of tax, attributable to noncontrolling interest      (6)
Comprehensive income, net of tax, attributable to parent:4,85010,3248,2528,55912,08111,4595,742

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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