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: 2022 | |||
CONSOLIDATED INCOME STATEMENT | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 28, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenue (Note D) | $ 60,530 | 57,350 | 55,179 |
| Cost | 27,842 | 25,865 | 24,314 |
| Gross profit | 32,687 | 31,486 | 30,865 |
| Expense and other (income) | |||
| Selling, general and administrative | 18,609 | 18,745 | 20,561 |
| Research, development and engineering (Note G) | 6,567 | 6,488 | 6,262 |
| Intellectual property and custom development income | (663) | (612) | (620) |
| Other (income) and expense (Note A) | 5,803 | 873 | 802 |
| Interest expense (Note P&T) | 1,216 | 1,155 | 1,288 |
| Total expense and other (income) | 31,531 | 26,649 | 28,293 |
| Income from continuing operations before income taxes | 1,156 | 4,837 | 2,572 |
| Provision for/(benefit from) income taxes (Note H) | (626) | 124 | (1,360) |
| Income from continuing operations | 1,783 | 4,712 | 3,932 |
| Income/(loss) from discontinued operations, net of tax (Note C) | (143) | 1,030 | 1,658 |
| Net income | 1,639 | 5,743 | 5,590 |
| Earnings/(loss) per share of common stock | |||
| Assuming dilution | |||
| Continuing operations (in dollars per share) (Note I) | 1.95 | 5.21 | 4.38 |
| Discontinued operations (in dollars per share) (Note I) | (0.16) | 1.14 | 1.85 |
| Total (in dollars per share) (Note I) | 1.80 | 6.35 | 6.23 |
| Basic | |||
| Continuing operations (in dollars per share) (Note I) | 1.97 | 5.26 | 4.42 |
| Discontinued operations (in dollars per share) (Note I) | (0.16) | 1.15 | 1.86 |
| Total (in dollars per share) (Note I) | 1.82 | 6.41 | 6.28 |
| Weighted-average number of common shares outstanding | |||
| Assuming dilution (in shares) | 912,269,062 | 904,641,001 | 896,563,971 |
| Basic (in shares) | 902,664,190 | 895,990,771 | 890,348,679 |
| Product and Service | |||
| Services | |||
| Revenue (Note D) | 30,206 | 29,225 | 27,626 |
| Cost | 21,062 | 19,147 | 17,689 |
| Sales | |||
| Revenue (Note D) | 29,673 | 27,346 | 26,569 |
| Cost | 6,374 | 6,184 | 6,048 |
| Financing. | |||
| Revenue (Note D) | 651 | 780 | 984 |
| Cost | 406 | 534 | 577 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 28, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 1,639 | 5,743 | 5,590 |
| Other comprehensive income/(loss), before tax | |||
| Foreign currency translation adjustments (Note S) | 176 | 987 | (1,500) |
| Net changes related to available-for-sale securities (Note S) | |||
| Unrealized gains/(losses) arising during the period | (1) | 0 | (1) |
| Total net changes related to available-for-sale securities | (1) | 0 | (1) |
| Unrealized gains/(losses) on cash flow hedges (Note S) | |||
| Unrealized gains/(losses) arising during the period | 241 | 344 | (349) |
| Reclassification of (gains)/losses to net income | (400) | 243 | (21) |
| Total unrealized gains/(losses) on cash flow hedges | (158) | 587 | (370) |
| Retirement-related benefit plans (Note S) | |||
| Prior service costs/(credits) | 463 | (51) | (37) |
| Net (losses)/gains arising during the period | 878 | 2,433 | (1,678) |
| Curtailments and settlements | 5,970 | 94 | 52 |
| Amortization of prior service (credits)/costs | 12 | 9 | 13 |
| Amortization of net (gains)/losses | 1,596 | 2,484 | 2,314 |
| Total retirement-related benefit plans | 8,919 | 4,969 | 664 |
| Other comprehensive income/(loss), before tax (Note S) | 8,936 | 6,542 | (1,206) |
| Income tax (expense)/benefit related to items of other comprehensive income (Note S) | (2,442) | (1,703) | 466 |
| Other comprehensive income/(loss) (Note S) | 6,494 | 4,839 | (740) |
| Total comprehensive income | 8,134 | 10,582 | 4,850 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 28, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities | |||
| Net income | $ 1,639 | 5,743 | 5,590 |
| Adjustments to reconcile net income to cash provided by operating activities | |||
| Pension settlement charge | 5,894 | ||
| Depreciation | 2,407 | 3,888 | 4,227 |
| Amortization of intangibles | 2,395 | 2,529 | 2,468 |
| Stock-based compensation | 987 | 982 | 937 |
| Deferred taxes | (2,726) | (2,001) | (3,203) |
| Net (gain)/loss on asset sales and other | (122) | (307) | (70) |
| Change in operating assets and liabilities, net of acquisitions/divestitures | |||
| Receivables (including financing receivables) | (539) | 1,372 | 5,297 |
| Retirement related | 331 | 1,038 | 936 |
| Inventory | 71 | 138 | (209) |
| Other assets/other liabilities | (115) | (671) | 2,087 |
| Accounts payable | 213 | 85 | 138 |
| Net cash provided by operating activities | 10,435 | 12,796 | 18,197 |
| Cash flows from investing activities | |||
| Payments for property, plant and equipment | (1,346) | (2,062) | (2,618) |
| Proceeds from disposition of property, plant and equipment | 111 | 387 | 188 |
| Investment in software | (626) | (706) | (612) |
| Purchases of marketable securities and other investments | (5,930) | (3,561) | (6,246) |
| Proceeds from disposition of marketable securities and other investments | 4,665 | 3,147 | 5,618 |
| Non-operating finance receivables - net | 0 | 0 | 475 |
| Acquisition of businesses, net of cash acquired | (2,348) | (3,293) | (336) |
| Divestiture of businesses, net of cash transferred | 1,272 | 114 | 503 |
| Net cash provided by/(used in) investing activities | (4,202) | (5,975) | (3,028) |
| Cash flows from financing activities | |||
| Proceeds from new debt | 7,804 | 522 | 10,504 |
| Payments to settle debt | (6,800) | (8,597) | (13,365) |
| Short-term borrowings/(repayments) less than 90 days - net | 217 | (40) | (853) |
| Common stock repurchases for tax withholdings | (407) | (319) | (302) |
| Financing - other | 176 | 70 | 92 |
| Distribution from Kyndryl | 879 | ||
| Cash dividends paid | (5,948) | (5,869) | (5,797) |
| Net cash provided by/(used in) financing activities | (4,958) | (13,354) | (9,721) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (244) | (185) | (87) |
| Net change in cash, cash equivalents and restricted cash | 1,032 | (6,718) | 5,361 |
| Cash, cash equivalents and restricted cash at January 1 | 6,957 | 13,675 | |
| Cash, cash equivalents and restricted cash at December 31 | 7,988 | 6,957 | 13,675 |
| Supplemental data | |||
| Income taxes paid-net of refunds received | 1,865 | 2,103 | 2,253 |
| Interest paid on debt | 1,401 | 1,512 | 1,830 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTERNATIONAL BUSINESS MACHINES CORP | ||
Ticker: IBM Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 28, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 7,886 | 6,650 |
| Restricted cash | 103 | 307 |
| Marketable securities (Note J) | 852 | 600 |
| Notes and accounts receivable-trade (net of allowances of $233 in 2022 and $218 in 2021) | 6,541 | 6,754 |
| Short-term financing receivables, held for investment (net of allowances of $145 in 2022 and $176 in 2021) (Note L) | 6,851 | 7,221 |
| Short-term financing receivables, held for sale (Note L) | 939 | 793 |
| Other accounts receivable (net of allowances of $89 in 2022 and $24 in 2021) | 817 | 1,002 |
| Inventory (Note K) | 1,552 | 1,649 |
| Deferred costs (Note D) | 967 | 1,097 |
| Prepaid expenses and other current assets | 2,611 | 3,466 |
| Total current assets | 29,118 | 29,539 |
| Property, plant and equipment (Note M) | 18,695 | 20,085 |
| Less: Accumulated depreciation (Note M) | 13,361 | 14,390 |
| Property, plant and equipment - net (Note M) | 5,334 | 5,694 |
| Operating right-of-use assets-net (Note N) | 2,878 | 3,222 |
| Long-term financing receivables (net of allowances of $28 in 2022 and $25 in 2021) | 5,806 | 5,425 |
| Prepaid pension assets (Note V) | 8,236 | 9,850 |
| Deferred costs (Note D) | 866 | 924 |
| Deferred taxes (Note H) | 6,256 | 7,370 |
| Goodwill (Note O) | 55,949 | 55,643 |
| Intangible assets-net (Note O) | 11,184 | 12,511 |
| Investments and sundry assets | 1,617 | 1,823 |
| Total assets | 127,243 | 132,001 |
| Liabilities and equity | ||
| Liabilities: | ||
| Current liabilities | ||
| Taxes (Note H) | 2,196 | 2,289 |
| Short-term debt (Note J&P) | 4,760 | 6,787 |
| Accounts payable | 4,051 | 3,955 |
| Compensation and benefits | 3,481 | 3,204 |
| Deferred income | 12,032 | 12,518 |
| Operating lease liabilities (Note N) | 874 | 974 |
| Other accrued expenses and liabilities | 4,111 | 3,892 |
| Total current liabilities | 31,505 | 33,619 |
| Long-term debt (Note J&P) | 46,189 | 44,917 |
| Retirement and nonpension postretirement benefit obligations (Note V) | 9,596 | 14,435 |
| Deferred income | 3,499 | 3,577 |
| Operating lease liabilities (Note N) | 2,190 | 2,462 |
| Other liabilities (Note Q) | 12,243 | 13,996 |
| Total liabilities | 105,222 | 113,005 |
| Commitments and Contingencies (Note R) | ||
| Equity (Note S): | ||
| IBM stockholders' equity | ||
| Common stock, par value $.20 per share, and additional paid-in capital Shares authorized: 4,687,500,000 Shares issued (2022-2,257,116,920; 2021-2,248,577,848) | 58,343 | 57,319 |
| Retained earnings | 149,825 | 154,209 |
| Treasury stock, at cost (shares: 2022-1,351,024,943; 2021-1,350,509,249) | (169,484) | (169,392) |
| Accumulated other comprehensive income/(loss) | (16,740) | (23,234) |
| Total IBM stockholders' equity | 21,944 | 18,901 |
| Noncontrolling interests (Note A) | 77 | 95 |
| Total equity | 22,021 | 18,996 |
| Total liabilities and equity | 127,243 | 132,001 |
| External Links | |
| INTERNATIONAL BUSINESS MACHINES CORP (IBM) Fiscal Year 2022 | |
| 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 |