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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8,86811,99712,5808,5278,1948,47611,066
Cash and cash equivalents8,17211,37911,9727,8267,6868,47610,716
Short-term investments696618608701508 350
Receivables23,79530,56331,63029,24528,55431,83130,252
Inventory, net of allowances, customer advances and progress billings1,6191,6821,5831,5531,5512,1032,310
Inventory1,6191,6821,5831,5531,5512,1032,310
Prepaid expense    496518305
Contract with customer, asset492470
Capitalized contract cost1,8962,300
Other undisclosed current assets1,7502,1343,9424,5633,7096,4947,417
Total current assets:38,42049,14649,73543,88842,50449,42251,350
Noncurrent Assets
Operating lease, right-of-use asset4,996
Nontrade receivables664626590477  
Property, plant and equipment10,01010,79211,11610,83010,72710,77113,821
Long-term investments and receivables8,8969,3409,6879,14010,21311,45912,892
Long-term investments184192137119200350137
Accounts and financing receivable, after allowance for credit loss8,7129,1489,5509,02110,01311,10912,755
Intangible assets, net (including goodwill)73,45739,35240,53040,88735,50833,66035,055
Goodwill58,22236,26536,78836,19932,02130,55631,184
Intangible assets, net (excluding goodwill)15,2353,0873,7424,6883,4873,1043,871
Prepaid expense  300230 332352
Capitalized contract cost, net2,4722,676
Derivative instruments and hedges94347757594 681401
Regulated entity, other noncurrent assets    74  
Deposits noncurrent assets242268271267 300316
Deferred costs  1,5371,497   
Deferred income tax assets5,182
Other noncurrent assets    5,1875,6034,639
Prepaid pension costs3,0341,7342,1605,551
Other undisclosed noncurrent assets7,75310,83510,8336,6264,5483,1441,846
Total noncurrent assets:113,76674,23675,62173,58267,99168,11074,873
TOTAL ASSETS:152,186123,382125,356117,470110,495117,532126,223
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities11,14112,91414,31413,0218,87511,94812,094
Accounts payable4,8966,5586,4516,2096,0286,8647,461
Employee-related liabilities3,4063,3103,6443,577   
Taxes payable2,8393,0464,2193,2352,8475,0844,633
Deferred revenue12,026
Debt8,79710,2076,9877,5136,4615,7316,862
Deferred compensation liability    3,5604,0313,893
Deferred revenue and credits11,55211,03511,02111,87712,557
Contract with customer, liability11,165
Other liabilities    4,3536,0134,748
Other undisclosed current liabilities5,7373,9414,5104,706(1)  
Total current liabilities:37,70138,22737,36336,27534,26939,60040,154
Noncurrent Liabilities
Long-term debt and lease obligation, including:54,10235,60539,83734,65533,42835,07332,856
Long-term debt, excluding current maturities 35,60539,83734,65533,42835,07332,856
Operating lease, liability3,879
Other undisclosed long-term debt and lease obligation50,223      
Liabilities, other than long-term debt35,51932,62130,43128,14728,37435,20736,140
Deferred revenue and credits3,7463,6003,7713,6914,108
Pension and other postretirement defined benefit plans, liabilities16,242
Accounts payable and accrued liabilities     91 
Deferred revenue3,851
Contract with customer, liability3,445
Asset retirement obligations     136129
Deferred tax liabilities, net    2881,741
Liability for uncertainty in income taxes     3,1463,189
Liability, pension and other postretirement and postemployment benefits17,14217,00216,72017,07016,50418,261
Accrued environmental loss contingencies     240231
Restructuring reserve     431440
Other liabilities14,52612,1749,9657,4778,0998,8929,934
Derivative instruments and hedges, liabilities     31126
Other undisclosed noncurrent liabilities3,880(1) 1 (4,362)(5,856)
Total noncurrent liabilities:93,50168,22570,26862,80361,80265,91863,140
Total liabilities:131,202106,452107,63199,07896,071105,518103,294
Stockholders' equity
Stockholders' equity attributable to parent, including:20,84116,79617,59418,24614,26211,86822,792
Treasury stock, value(169,413)(168,071)(163,507)(159,050)(155,518)(150,715)(137,242)
Accumulated other comprehensive loss(28,597)(29,490)(26,592)(29,398)(29,607)(27,875)(21,602)
Retained earnings162,954159,206153,126152,759146,124137,793130,042
Other undisclosed stockholders' equity attributable to parent55,89755,15154,56753,93553,26352,66551,594
Stockholders' equity attributable to noncontrolling interest144134131146162146137
Other undisclosed stockholders' equity (1)     
Total stockholders' equity:20,98516,92917,72518,39214,42412,01422,929
Other undisclosed liabilities and equity(1)1     
TOTAL LIABILITIES AND EQUITY:152,186123,382125,356117,470110,495117,532126,223

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues77,14779,59179,13979,91981,74192,79399,751
Revenue, net77,42478,21079,87890,73697,704
Cost of revenue(40,659)(42,655)(42,913)(41,625)(41,057)(46,386)(51,246)
Cost of goods and services sold(591) (41,703)(40,580)(40,046)(45,346)(50,136)
Other undisclosed gross profit  1    
Gross profit:36,48836,93636,22738,29440,68446,40748,505
Operating expenses(26,593)(24,745)(25,894)(26,820)(25,677)(29,964)(31,430)
Operating income:9,89512,19110,33311,47415,00716,44317,075
Interest and debt expense(1,344)(723)(615)(630)(468)(484)(402)
Other undisclosed income from continuing operations before equity method investments, income taxes      2,851
Income from continuing operations before equity method investments, income taxes:8,55111,4689,71810,84414,53915,95919,524
Other undisclosed income (loss) from continuing operations before income taxes1,615(126)1,6821,4861,4064,027 
Income from continuing operations before income taxes:10,16611,34211,40012,33015,94519,98619,524
Income tax expense(731)(2,619)(5,642)(449)(2,581)(4,234)(3,041)
Other undisclosed loss from continuing operations     (1) 
Income from continuing operations:9,4358,7235,75811,88113,36415,75116,483
Income (loss) from discontinued operations391(2)3(9)(174)(3,729) 
Income before gain (loss) on sale of properties:9,8268,7215,76111,87213,19012,02216,483
Other undisclosed net income (loss)(395)7(8)    
Net income:9,4318,7285,75311,87213,19012,02216,483
Net loss attributable to noncontrolling interest     (6)(7)
Net income attributable to parent:9,4318,7285,75311,87213,19012,01616,476
Other undisclosed net income available to common stockholders, basic     67
Net income available to common stockholders, basic:9,4318,7285,75311,87213,19012,02216,483
Dilutive securities, effect on basic earnings per share (6)(2) (1)(3)1
Other undisclosed net income (loss) available to common stockholders, diluted  1  1(1)
Net income available to common stockholders, diluted:9,4318,7225,75211,87213,18912,02016,483

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:9,4318,7285,75311,87213,19012,02216,483
Other comprehensive income (loss)893(476)2,806209(1,731)(6,274)4,157
Other undisclosed comprehensive income      1
Comprehensive income:10,3248,2528,55912,08111,4595,74820,641
Comprehensive income (loss), net of tax, attributable to noncontrolling interest     (6)7
Comprehensive income, net of tax, attributable to parent:10,3248,2528,55912,08111,4595,74220,648

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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