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: 2016 | |||
Consolidated Statement of Earnings | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenue | |||
| Services | $ 51,268 | 49,911 | 55,673 |
| Sales | 26,942 | 29,967 | 35,063 |
| Financing | 1,710 | 1,864 | 2,057 |
| Total revenue (Note T) | 79,919 | 81,741 | 92,793 |
| Cost | |||
| Services | 34,021 | 33,126 | 36,034 |
| Sales | 6,559 | 6,920 | 9,312 |
| Financing | 1,044 | 1,011 | 1,040 |
| Total cost | 41,625 | 41,057 | 46,386 |
| Gross profit | 38,294 | 40,684 | 46,407 |
| Expense and other (income) | |||
| Selling, general and administrative | 21,069 | 20,430 | 23,180 |
| Research, development and engineering (Note O) | 5,751 | 5,247 | 5,437 |
| Intellectual property and custom development income | (1,631) | (682) | (742) |
| Other (income) and expense | 145 | (724) | (1,938) |
| Interest expense (Notes D&J) | 630 | 468 | 484 |
| Total expense and other (income) | 25,964 | 24,740 | 26,421 |
| Income from continuing operations before income taxes | 12,330 | 15,945 | 19,986 |
| Provision for income taxes (Note N) | 449 | 2,581 | 4,234 |
| Income from continuing operations | 11,881 | 13,364 | 15,751 |
| Loss from discontinued operations, net of tax (Note C) | (9) | (174) | (3,729) |
| Net income | 11,872 | 13,190 | 12,022 |
| Earnings/(loss) per share of common stock | |||
| Assuming dilution | |||
| Continuing operations (in dollars per share) (Note P) | 12.39 | 13.60 | 15.59 |
| Discontinued operations (in dollars per share) (Note P) | (0.01) | (0.18) | (3.69) |
| Total (in dollars per share) (Note P) | 12.38 | 13.42 | 11.90 |
| Basic | |||
| Continuing operations (in dollars per share) (Note P) | 12.44 | 13.66 | 15.68 |
| Discontinued operations (in dollars per share) (Note P) | (0.01) | (0.18) | (3.71) |
| Total (in dollars per share) (Note P) | 12.43 | 13.48 | 11.97 |
| Weighted-average number of common shares outstanding | |||
| Assuming dilution (in shares) | 958,714,097 | 982,700,267 | 1,010,000,480 |
| Basic (in shares) | 955,422,530 | 978,744,523 | 1,004,272,584 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2016 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 11,872 | 13,190 | 12,022 |
| Other comprehensive income/(loss), before tax | |||
| Foreign currency translation adjustments (Note L) | (20) | (1,379) | (1,636) |
| Net changes related to available-for-sale securities (Note L) | |||
| Unrealized gains/(losses) arising during the period | (38) | (54) | (29) |
| Reclassification of (gains)/losses to net income | 34 | 86 | 5 |
| Total net changes related to available-for-sale securities | (3) | 32 | (24) |
| Unrealized gains/(losses) on cash flow hedges (Note L) | |||
| Unrealized gains/(losses) arising during the period | 243 | 618 | 958 |
| Reclassification of (gains)/losses to net income | 102 | (1,072) | (97) |
| Total unrealized gains/(losses) on cash flow hedges | 345 | (454) | 861 |
| Retirement-related benefit plans (Note L) | |||
| Prior service costs/(credits) | 6 | 1 | |
| Net (losses)/gains arising during the period | (2,490) | (2,963) | (9,799) |
| Curtailments and settlements | (16) | 33 | 24 |
| Amortization of prior service (credits)/costs | (107) | (100) | (114) |
| Amortization of net (gains)/losses | 2,764 | 3,304 | 2,531 |
| Total retirement-related benefit plans | 150 | 279 | (7,357) |
| Other comprehensive income/(loss), before tax (Note L) | 472 | (1,523) | (8,156) |
| Income tax (expense)/benefit related to items of other comprehensive income (Note L) | (263) | (208) | 1,883 |
| Other comprehensive income/(loss) (Note L) | 209 | (1,731) | (6,274) |
| Total comprehensive income/(loss) | 12,081 | 11,459 | 5,748 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2016 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities | |||
| Net income | $ 11,872 | 13,190 | 12,022 |
| Adjustments to reconcile net income to cash provided by operating activities | |||
| Depreciation | 2,837 | 2,662 | 3,145 |
| Amortization of intangibles | 1,544 | 1,193 | 1,347 |
| Stock-based compensation | 544 | 468 | 512 |
| Deferred taxes | (1,132) | 1,387 | (237) |
| Net (gain)/loss on asset sales and other | 62 | 481 | (1,535) |
| Loss on microelectronics business disposal | 71 | 3,381 | |
| Change in operating assets and liabilities, net of acquisitions/divestitures | |||
| Receivables (including financing receivables) | 712 | 812 | 1,270 |
| Retirement related | 54 | (22) | (655) |
| Inventories | (14) | 133 | (39) |
| Other assets/other liabilities | 282 | (3,448) | (1,886) |
| Accounts payable | 197 | 81 | (456) |
| Net cash provided by operating activities | 16,958 | 17,008 | 16,868 |
| Cash flows from investing activities | |||
| Payments for property, plant and equipment | (3,567) | (3,579) | (3,740) |
| Proceeds from disposition of property, plant and equipment | 424 | 370 | 404 |
| Investment in software | (583) | (572) | (443) |
| Purchases of marketable securities and other investments | (5,917) | (3,073) | (2,338) |
| Proceeds from disposition of marketable securities and other investments | 5,692 | 2,842 | 2,493 |
| Non-operating finance receivables - net | (891) | (398) | (1,078) |
| Acquisition of businesses, net of cash acquired | (5,679) | (3,349) | (656) |
| Divestiture of businesses, net of cash transferred | (454) | (401) | 2,357 |
| Net cash used in investing activities | (10,976) | (8,159) | (3,001) |
| Cash flows from financing activities | |||
| Proceeds from new debt | 9,132 | 5,540 | 8,180 |
| Payments to settle debt | (6,395) | (5,622) | (4,644) |
| Short-term borrowings/(repayments) less than 90 days - net | 26 | 101 | (1,753) |
| Common stock repurchases | (3,502) | (4,609) | (13,679) |
| Common stock transactions - other | 204 | 322 | 709 |
| Cash dividends paid | (5,256) | (4,897) | (4,265) |
| Net cash used in financing activities | (5,791) | (9,166) | (15,452) |
| Effect of exchange rate changes on cash and cash equivalents | (51) | (473) | (655) |
| Net change in cash and cash equivalents | 140 | (790) | (2,240) |
| Cash and cash equivalents at beginning of period | 7,686 | 8,476 | |
| Cash and cash equivalents at end of period | 7,826 | 7,686 | 8,476 |
| Supplemental data | |||
| Income taxes paid - net of refunds received | 1,078 | 2,657 | 5,748 |
| Interest paid on debt | 1,158 | 995 | 1,061 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTERNATIONAL BUSINESS MACHINES CORP | ||
Ticker: IBM Fiscal Year: 2016 | ||
Consolidated Statement of Financial Position | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 7,826 | 7,686 |
| Marketable securities (Note D) | 701 | 508 |
| Notes and accounts receivable - trade (net of allowances of $290 in 2016 and $367 in 2015) | 9,182 | 8,333 |
| Short-term financing receivables (net of allowances of $337 in 2016 and $490 in 2015) (Note F) | 19,006 | 19,020 |
| Other accounts receivable (net of allowances of $48 in 2016 and $51 in 2015) | 1,057 | 1,201 |
| Inventories (Note E) | 1,553 | 1,551 |
| Prepaid expenses and other current assets | 4,564 | 4,205 |
| Total current assets | 43,888 | 42,504 |
| Property, plant and equipment (Note G) | 30,133 | 29,342 |
| Less: Accumulated depreciation (Note G) | 19,303 | 18,615 |
| Property, plant and equipment - net (Note G) | 10,830 | 10,727 |
| Long-term financing receivables (net of allowances of $101 in 2016 and $118 in 2015) (Note F) | 9,021 | 10,013 |
| Prepaid pension assets (Note S) | 3,034 | 1,734 |
| Deferred taxes (Note N) | 5,224 | 4,822 |
| Goodwill (Note I) | 36,199 | 32,021 |
| Intangible assets - net (Note I) | 4,688 | 3,487 |
| Investments and sundry assets (Note H) | 4,585 | 5,187 |
| Total assets | 117,470 | 110,495 |
| Liabilities and equity | ||
| Current liabilities | ||
| Taxes (Note N) | 3,235 | 2,847 |
| Short-term debt (Notes D&J) | 7,513 | 6,461 |
| Accounts payable | 6,209 | 6,028 |
| Compensation and benefits | 3,577 | 3,560 |
| Deferred income | 11,035 | 11,021 |
| Other accrued expenses and liabilities | 4,705 | 4,353 |
| Total current liabilities | 36,275 | 34,269 |
| Long-term debt (Notes D&J) | 34,655 | 33,428 |
| Retirement and nonpension postretirement benefit obligations (Note S) | 17,070 | 16,504 |
| Deferred income | 3,600 | 3,771 |
| Other liabilities (Note K) | 7,477 | 8,099 |
| Total liabilities | 99,078 | 96,071 |
| Contingencies and commitments (Note M) | ||
| Equity (Note L) | ||
| IBM stockholders' equity | ||
| Common stock, par value $0.20 per share, and additional paid-in capital; Shares authorized: 4,687,500,000 (Shares issued: 2016 - 2,225,116,815; 2015 - 2,221,223,449) | 53,935 | 53,262 |
| Retained earnings | 152,759 | 146,124 |
| Treasury stock, at cost (shares: 2016 - 1,279,249,412; 2015 - 1,255,494,724) | (159,050) | (155,518) |
| Accumulated other comprehensive income/(loss) | (29,398) | (29,607) |
| Total IBM stockholders' equity | 18,246 | 14,262 |
| Noncontrolling interests (Note A) | 146 | 162 |
| Total equity | 18,392 | 14,424 |
| Total liabilities and equity | 117,470 | 110,495 |
| External Links | |
| INTERNATIONAL BUSINESS MACHINES CORP (IBM) Fiscal Year 2016 | |
| 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 |