INTERNATIONAL BUSINESS MACHINES CORP

IBM
Computer and office equipment
Last filing · Quarter 3 · Sep 30, 2026
Financial Statements Ratios
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Statement
Income StatementBalance SheetCash Flow
Period
Annual Quarterly
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INTERNATIONAL BUSINESS MACHINES CORP back to 2009, every line as filed.

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USD ($)
$ in Millions 		LTMDec 31, 2025Dec 31, 2024Dec 31, 2023Dec 31, 2022Dec 31, 2021Dec 31, 2020Dec 31, 2019Dec 31, 2018Dec 31, 2017Dec 31, 2016Dec 31, 2015Dec 31, 2014Dec 31, 2013Dec 31, 2012Dec 31, 2011Dec 31, 2010Dec 31, 2009
Cash flows from operating activities
                  
Net income
$ 11,171
$ 10,593
$ 6,023
$ 7,502
Adjustments to reconcile net income to cash provided by operating activities
                  
Pension settlement charges
-
0
3,113
0
Depreciation
2,224
2,284
2,168
2,109
Amortization of capitalized software and acquired intangible assets
3,073
2,737
2,499
2,287
Stock-based compensation
1,969
1,715
1,311
1,133
Deferred taxes
(957)
(957)
(2,330)
(1,114)
Net (gain)/loss on divestitures, asset sales and other
(117)
(39)
(652)
(170)
Loss on Microelectronics business disposal
-
-
-
-
Change in operating assets and liabilities, net of acquisitions/divestitures
                  
Receivables (including financing receivables)
(4,278)
(4,278)
(374)
725
Retirement related
(50)
(50)
265
(462)
Inventory
70
70
(166)
390
Other assets/other liabilities
495
495
1,601
1,466
Accounts payable
624
624
(13)
65
Net cash provided by operating activities
15,831
13,193
13,445
13,931
Cash flows from investing activities
                  
Payments for property, plant and equipment
(1,175)
(1,091)
(1,048)
(1,245)
Proceeds from disposition of property, plant and equipment/other
63
121
557
321
Investment in software
(638)
(647)
(637)
(565)
Purchases of marketable securities and other investments
(5,954)
(10,095)
(7,762)
(11,143)
Proceeds from disposition of marketable securities and other investments
7,305
9,704
6,544
10,647
Non-operating finance receivables - net
-
-
-
-
Acquisition of businesses, net of cash acquired
(11,755)
(8,294)
(3,289)
(5,082)
Divestiture of businesses, net of cash transferred
30
(1)
698
(4)
Net cash provided by/(used in) investing activities
(12,122)
(10,302)
(4,937)
(7,070)
Cash flows from financing activities
                  
Proceeds from new debt
9,415
8,391
5,705
9,586
Payments to settle debt
(9,071)
(5,489)
(6,615)
(5,082)
Short-term borrowings/(repayments) less than 90 days—net
3
(29)
30
(7)
Common stock repurchases
-
-
-
-
Common stock repurchases for tax withholdings
(984)
(1,018)
(651)
(402)
Proceeds from issuance of shares
737
710
745
-
Financing—other
(128)
(139)
(145)
176
Distribution from Kyndryl
-
-
-
0
Cash dividends paid
(6,336)
(6,255)
(6,147)
(6,040)
Net cash provided by/(used in) financing activities
(5,808)
(3,829)
(7,079)
(1,769)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(220)
418
(359)
9
Net change in cash, cash equivalents and restricted cash
(2,318)
(520)
1,071
5,101
Effect of exchange rate changes on cash and cash equivalents
-
-
-
-
Net change in cash and cash equivalents
-
-
-
-
Supplemental data
                  
Income taxes paid—net of refunds received
1,948
1,948
1,723
1,564
Interest paid on debt
2,042
2,042
1,978
1,668
Capital lease obligations
-
-
-
-