10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2009 | |||
Consolidated Statement of Earnings | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 23, 2010) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Gross profit: | |||
| Revenue: | |||
| Services | $ 55,128 | 58,892 | 54,057 |
| Sales | 38,300 | 42,156 | 42,202 |
| Financing | 2,331 | 2,582 | 2,526 |
| Total revenue | 95,758 | 103,630 | 98,786 |
| Cost: | |||
| Services | 37,146 | 40,937 | 39,160 |
| Sales | 13,606 | 15,776 | 16,552 |
| Financing | 1,220 | 1,256 | 1,345 |
| Total cost | 51,973 | 57,969 | 57,057 |
| Gross profit | 43,785 | 45,661 | 41,729 |
| Expense and other income: | |||
| Selling, general and administrative | 20,952 | 23,386 | 22,060 |
| Research, development and engineering (Note Q) | 5,820 | 6,337 | 6,153 |
| Intellectual property and custom development income | (1,177) | (1,153) | (958) |
| Other (income) and expense | (351) | (298) | (626) |
| Interest expense (Notes K & L) | 402 | 673 | 611 |
| Total expense and other income | 25,647 | 28,945 | 27,240 |
| Income from continuing operations before income taxes | 18,138 | 16,715 | 14,489 |
| Provision for income taxes (Note P) | 4,713 | 4,381 | 4,071 |
| Income from continuing operations | 13,425 | 12,334 | 10,418 |
| Discontinued operations: | |||
| Income/(loss) from discontinued operations, net of tax | 0 | ||
| Net income | 13,425 | 12,334 | 10,418 |
| Earnings/(loss) per share of common stock: | |||
| Earnings/(loss) per share of common stock, assuming dilution: | |||
| Continuing operations (Note R) | 10.01 | 8.89 [1] | 7.15 |
| Discontinued operations (Note R) | 0.00 | ||
| Total (Note R) | 10.01 | 8.89 | 7.15 |
| Earnings/(loss) per share of common stock, basic: | |||
| Continuing operations (Note R) | 10.12 | 9.02 | 7.27 |
| Discontinued operations (Note R) | 0.00 | ||
| Total (Note R) | 10.12 | 9.02 | 7.27 |
| Weighted-average number of common shares outstanding: | |||
| Assuming dilution | 1,341,352,754 | 1,387,797,198 | 1,456,880,751 |
| Basic | 1,327,157,410 | 1,369,367,069 | 1,433,935,221 |
| [1] Reflects the adoption of the Financial Accounting Standards Board (FASB) guidance in determining whether instruments granted in share-based payment transactions are participating securities. See note B, "Accounting Changes," on pages 79 to 82 for additional information. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2009 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 23, 2010) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Net change in cash and cash equivalents: | |||
| Cash flow from operating activities from continuing operations: | |||
| Net income | $ 13,425 | 12,334 | 10,418 |
| (Income)/loss from discontinued operations | 0 | ||
| Adjustments to reconcile income from continuing operations to cash provided by operating activities: | |||
| Depreciation | 3,773 | 4,140 | 4,038 |
| Amortization of intangibles | 1,221 | 1,310 | 1,163 |
| Stock-based compensation | 558 | 659 | 713 |
| Deferred taxes | 1,773 | 1,900 | 740 |
| Net gain on asset sales and other | (395) | (338) | (89) |
| Change in operating assets and liabilities, net of acquisitions/divestitures: | |||
| Receivables (including financing receivables) | 2,131 | 274 | (1,408) |
| Retirement related | (2,465) | (1,773) | (228) |
| Inventories | 263 | (102) | 182 |
| Other assets/other liabilities | 319 | 1,268 | 706 |
| Accounts payable | 170 | (860) | (142) |
| Net cash provided by operating activities from continuing operations | 20,773 | 18,812 | 16,094 |
| Cash flow from investing activities from continuing operations: | |||
| Payments for plant, rental machines and other property | (3,447) | (4,171) | (4,630) |
| Proceeds from disposition of plant, rental machines and other property | 330 | 350 | 537 |
| Investment in software | (630) | (716) | (875) |
| Purchases of marketable securities and other investments | (5,604) | (4,590) | (24,117) |
| Proceeds from disposition of marketable securities and other investments | 3,599 | 6,100 | 24,984 |
| Non-operating finance receivables - net | (184) | (16) | 125 |
| Divestiture of businesses, net of cash transferred | 400 | 71 | 310 |
| Acquisition of businesses, net of cash acquired | (1,194) | (6,313) | (1,009) |
| Net cash used in investing activities from continuing operations | (6,729) | (9,285) | (4,675) |
| Cash flow from financing activities from continuing operations: | |||
| Proceeds from new debt | 6,683 | 13,829 | 21,744 |
| Payments to settle debt | (13,495) | (10,248) | (11,306) |
| Short-term (repayments)/borrowings less than 90 days - net | (651) | (6,025) | 1,674 |
| Common stock repurchases | (7,429) | (10,578) | (18,828) |
| Common stock transactions - other | 3,052 | 3,774 | 4,123 |
| Cash dividends paid | (2,860) | (2,585) | (2,147) |
| Net cash used in financing activities from continuing operations | (14,700) | (11,834) | (4,740) |
| Effect of exchange rate changes on cash and cash equivalents | 98 | 58 | 294 |
| Net cash used in discontinued operations from: operating activities | (5) | ||
| Net change in cash and cash equivalents | (558) | (2,250) | 6,969 |
| Cash and cash equivalents at January 1 | 12,741 | 14,991 | |
| Cash and cash equivalents at December 31 | 12,183 | 12,741 | 14,991 |
| Supplemental data: | |||
| Income taxes paid - net of refunds received | 1,567 | 2,111 | 2,608 |
| Interest paid on debt | 1,240 | 1,460 | 1,485 |
| Capital lease obligations | 15 | 41 | 57 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTERNATIONAL BUSINESS MACHINES CORP | ||
Ticker: IBM Fiscal Year: 2009 | ||
Consolidated Statement of Financial Position | ||
Period Ending Dec 31, 2009 10-K (Filed: Feb 23, 2010) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2009 | Dec 31, 2008 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 12,183 | 12,741 |
| Marketable securities (Note E) | 1,791 | 166 |
| Notes and accounts receivable - trade (net of allowances of $217 in 2009 and $226 in 2008) | 10,736 | 10,906 |
| Short-term financing receivables (net of allowances of $438 in 2009 and $351 in 2008) (Note G) | 14,914 | 15,477 |
| Other accounts receivable (net of allowances of $15 in 2009 and $55 in 2008) | 1,143 | 1,172 |
| Inventories (Note F) | 2,494 | 2,701 |
| Deferred taxes (Note P) | 1,730 | 1,542 |
| Prepaid expenses and other current assets | 3,946 | 4,299 |
| Total current assets | 48,935 | 49,004 |
| Plant, rental machines and other property (Note H) | 39,596 | 38,445 |
| Less: Accumulated depreciation (Note H) | 25,431 | 24,140 |
| Plant, rental machines and other property - net (Note H) | 14,165 | 14,305 |
| Long-term financing receivables (net of allowances of $97 in 2009 and $179 in 2008) (Note G) | 10,644 | 11,183 |
| Prepaid pension assets (Note U) | 3,001 | 1,601 |
| Deferred taxes (Note P) | 4,195 | 7,270 |
| Goodwill (Note J) | 20,190 | 18,226 |
| Intangible assets - net (Note J) | 2,513 | 2,878 |
| Investments and sundry assets (Note I) | 5,379 | 5,058 |
| Total assets | 109,022 | 109,524 [1] |
| Liabilities and equity: | ||
| Current liabilities: | ||
| Taxes (Note P) | 3,826 | 2,743 |
| Short-term debt (Notes K&L) | 4,168 | 11,236 |
| Accounts payable | 7,436 | 7,014 |
| Compensation and benefits | 4,505 | 4,623 |
| Deferred income | 10,845 | 10,239 |
| Other accrued expenses and liabilities | 5,223 | 6,580 |
| Total current liabilities | 36,002 | 42,435 |
| Long-term debt (Notes K&L) | 21,932 | 22,689 |
| Retirement and nonpension postretirement benefit obligations (Note U) | 15,953 | 19,452 |
| Deferred income | 3,562 | 3,171 |
| Other liabilities (Note M) | 8,819 | 8,192 |
| Total liabilities | 86,267 | 95,939 |
| Contingencies and Commitments (Note O) | Note O | Note O |
| Equity: (Note N) | ||
| IBM Stockholders' equity: (Note N) | ||
| Common stock, par value $.20 per share and additional paid-in capital - Shares authorized: 4,687,500,000, Shares issued (2009 - 2,127,016,668; 2008 - 2,096,981,860) | 41,810 | 39,129 |
| Retained earnings | 80,900 | 70,353 |
| Treasury stock, at cost (shares: 2009 - 821,679,245; 2008 - 757,885,937) | (81,243) | (74,171) |
| Accumulated other comprehensive income/(loss) | (18,830) | (21,845) |
| Total IBM Stockholders' equity | 22,637 | 13,465 [2] |
| Noncontrolling interests (Note N) | 118 | 119 |
| Total equity | 22,755 | 13,584 |
| Total liabilities and equity | 109,022 | 109,524 |
| [2] Reflects the adoption of the FASB guidance on noncontrolling interests in consolidated financial statements. See note B, "Accounting Changes," on pages 79 to 82 for additional information. | ||
| [1] Amounts may not add due to rounding. | ||
| External Links | |
| INTERNATIONAL BUSINESS MACHINES CORP (IBM) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |