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: 2014 | |||
Consolidated Statement of Earnings | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Revenue | |||
| Services | $ 55,673 | 57,655 [1] | 59,453 |
| Sales | 35,063 | 38,666 | 41,381 |
| Financing | 2,057 | 2,047 | 2,040 |
| Total revenue (Note T) | 92,793 | 98,367 | 102,874 |
| Cost | |||
| Services | 36,034 | 37,564 | 39,166 |
| Sales | 9,312 | 11,009 | 12,260 |
| Financing | 1,040 | 1,110 | 1,087 |
| Total cost | 46,386 | 49,683 | 52,513 |
| Gross profit | 46,407 | 48,684 | 50,361 |
| Expense and other (income) | |||
| Selling, general and administrative | 23,180 | 23,451 | 23,463 |
| Research, development and engineering (Note O) | 5,437 | 5,743 | 5,816 |
| Intellectual property and custom development income | (742) | (822) | (1,074) |
| Other (income) and expense | (1,938) | (333) | (843) |
| Interest expense (Note D&J) | 484 | 402 | 459 |
| Total expense and other (income) | 26,421 | 28,440 | 27,821 |
| Income from continuing operations before income taxes | 19,986 | 20,244 | 22,540 |
| Provision for income taxes (Note N) | 4,234 | 3,363 | 5,541 |
| Income from continuing operations | 15,751 | 16,881 | 16,999 |
| Discontinued operations: | |||
| Loss from discontinued operations, net of tax (Note C) | (3,729) | (398) | (395) |
| Net income | 12,022 | 16,483 | 16,604 |
| Earnings/(loss) per share of common stock | |||
| Assuming dilution | |||
| Continuing operations (in dollars per share) (Note P) | 15.59 | 15.30 | 14.71 |
| Discontinued operations (in dollars per share) (Note P) | (3.69) | (0.36) | (0.34) |
| Total (in dollars per share) (Note P) | 11.90 | 14.94 | 14.37 |
| Basic | |||
| Continuing operations (in dollars per share) (Note P) | 15.68 | 15.42 | 14.88 |
| Discontinued operations (in dollars per share) (Note P) | (3.71) | (0.36) | (0.35) |
| Total (in dollars per share) (Note P) | 11.97 | 15.06 | 14.53 |
| Weighted-average number of common shares outstanding | |||
| Assuming dilution (in shares) | 1,010,000,480 | 1,103,042,156 | 1,155,449,317 |
| Basic (in shares) | 1,004,272,584 | 1,094,486,604 | 1,142,508,521 |
| [1] Reclassifed to reflect discontinued operation presentation. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2014 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net income | $ 12,022 | 16,483 | 16,604 |
| Other comprehensive income/(loss), before tax | |||
| Foreign currency translation adjustments (Note L) | (1,636) | (1,335) | (44) |
| Net changes related to available-for-sale securities (Note L) | |||
| Unrealized gains/(losses) arising during the period | (29) | (4) | 8 |
| Reclassification of (gains)/losses to net income | 5 | (8) | (42) |
| Subsequent changes in previously impaired securities arising during the period | 0 | 4 | 20 |
| Total net changes related to available-for-sale securities | (24) | (8) | (14) |
| Unrealized gains/(losses) on cash flow hedges (Note L) | |||
| Unrealized gains/(losses) arising during the period | 958 | 43 | 32 |
| Reclassification of (gains)/losses to net income | (97) | (166) | (253) |
| Total unrealized gains/(losses) on cash flow hedges | 861 | (123) | (220) |
| Retirement-related benefit plans (Note L) | |||
| Prior service costs/(credits) | 1 | 16 | |
| Net (losses)/gains arising during the period | (9,799) | 5,369 | (7,489) |
| Curtailments and settlements | 24 | (3) | (2) |
| Amortization of prior service (credits)/costs | (114) | (114) | (148) |
| Amortization of net (gains)/losses | 2,531 | 3,499 | 2,457 |
| Total retirement-related benefit plans | (7,357) | 8,767 | (5,182) |
| Other comprehensive income/(loss), before tax (Note L) | (8,156) | 7,301 | (5,460) |
| Income tax (expense)/benefit related to items of other comprehensive income (Note L) | 1,883 | (3,144) | 1,587 |
| Other comprehensive income/(loss) (Note L) | (6,274) | 4,157 | (3,874) |
| Total comprehensive income | 5,748 | 20,641 | 12,731 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2014 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Cash flows from operating activities | |||
| Net income | $ 12,022 | 16,483 | 16,604 |
| Adjustments to reconcile net income to cash provided by operating activities | |||
| Depreciation | 3,145 | 3,327 | 3,392 |
| Amortization of intangibles | 1,347 | 1,351 | 1,284 |
| Stock-based compensation | 512 | 614 | 688 |
| Deferred taxes | (237) | (1,610) | 797 |
| Net (gain)/loss on asset sales and other | (1,535) | (236) | (729) |
| Loss on microelectronics business disposal | 3,381 | ||
| Changes in operating assets and liabilities, net of acquisitions/divestitures | |||
| Receivables (including financing receivables) | 1,270 | (1,407) | (2,230) |
| Retirement related | (655) | 294 | (1,008) |
| Inventories | (39) | (57) | 280 |
| Other assets/other liabilities | (1,886) | (747) | 733 |
| Accounts payable | (456) | (529) | (224) |
| Net cash provided by operating activities | 16,868 | 17,485 | 19,586 |
| Cash flows from investing activities | |||
| Payments for property, plant and equipment | (3,740) | (3,623) | (4,082) |
| Proceeds from disposition of property, plant and equipment | 404 | 372 | 410 |
| Investment in software | (443) | (517) | (635) |
| Purchases of marketable securities and other investments | (2,338) | (4,608) | (4,109) |
| Proceeds from disposition of marketable securities and other investments | 2,493 | 4,873 | 3,142 |
| Non-operating finance receivables - net | (1,078) | (1,063) | (608) |
| Acquisition of businesses, net of cash acquired | (656) | (3,056) | (3,722) |
| Divestitures of businesses, net of cash transferred | 2,357 | 297 | 599 |
| Net cash used in investing activities | (3,001) | (7,326) | (9,004) |
| Cash flows from financing activities | |||
| Proceeds from new debt | 8,180 | 16,353 | 12,242 |
| Payments to settle debt | (4,644) | (10,013) | (9,549) |
| Short-term borrowings/(repayments) less than 90 days - net | (1,753) | 621 | (441) |
| Common stock repurchases | (13,679) | (13,859) | (11,995) |
| Common stock transactions - other | 709 | 1,074 | 1,540 |
| Cash dividends paid | (4,265) | (4,058) | (3,773) |
| Net cash used in financing activities | (15,452) | (9,883) | (11,976) |
| Effect of exchange rate changes on cash and cash equivalents | (655) | 28 | (116) |
| Net change in cash and cash equivalents | (2,240) | 304 | (1,511) |
| Cash and cash equivalents at January 1 | 10,716 | 10,412 | |
| Cash and cash equivalents at December 31 | 8,476 | 10,716 | 10,412 |
| Supplemental data | |||
| Income taxes paid-net of refunds received | 5,748 | 4,024 | 3,169 |
| Interest paid on debt | 1,061 | 982 | 1,009 |
| Capital lease obligations | 2 | 14 | 10 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTERNATIONAL BUSINESS MACHINES CORP | ||
Ticker: IBM Fiscal Year: 2014 | ||
Consolidated Statement of Financial Position | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 8,476 | 10,716 |
| Marketable securities (Note D) | 0 | 350 |
| Notes and accounts receivable - trade (net of allowances of $336 in 2014 and $291 in 2013) | 9,090 | 10,465 |
| Short-term financing receivables (net of allowances of $452 in 2014 and $308 in 2013) (Note F) | 19,835 | 19,787 |
| Other accounts receivable (net of allowances of $40 in 2014 and $36 in 2013) | 2,906 | 1,584 |
| Inventories (Note E) | 2,103 | 2,310 |
| Deferred taxes (Note N) | 2,044 | 1,651 |
| Prepaid expenses and other current assets | 4,967 | 4,488 |
| Total current assets | 49,422 | 51,350 |
| Property, plant and equipment (Note G) | 39,034 | 40,475 |
| Less: Accumulated depreciation (Note G) | 28,263 | 26,654 |
| Property, plant and equipment - net (Note G) | 10,771 | 13,821 |
| Long-term financing receivables (net of allowances of $126 in 2014 and $80 in 2013) (Note F) | 11,109 | 12,755 |
| Prepaid pension assets (Note S) | 2,160 | 5,551 |
| Deferred taxes (Note N) | 4,808 | 3,051 |
| Goodwill (Note I) | 30,556 | 31,184 |
| Intangible assets - net (Note I) | 3,104 | 3,871 |
| Investments and sundry assets (Note H) | 5,603 | 4,639 |
| Total assets | 117,532 | 126,223 |
| Liabilities and equity | ||
| Current liabilities | ||
| Taxes (Note N) | 5,084 | 4,633 |
| Short-term debt (Note D&J) | 5,731 | 6,862 |
| Accounts payable | 6,864 | 7,461 |
| Compensation and benefits | 4,031 | 3,893 |
| Deferred income | 11,877 | 12,557 |
| Other accrued expenses and liabilities | 6,013 | 4,748 |
| Total current liabilities | 39,600 | 40,154 |
| Long-term debt (Note D&J) | 35,073 | 32,856 |
| Retirement and nonpension postretirement benefit obligations (Note S) | 18,261 | 16,242 |
| Deferred income | 3,691 | 4,108 |
| Other liabilities (Note K) | 8,892 | 9,934 |
| Total liabilities | 105,518 | 103,294 |
| 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 (2014 -- 2,215,209,574; 2013 -- 2,207,522,548) | 52,666 | 51,594 |
| Retained earnings | 137,793 | 130,042 |
| Treasury stock, at cost (shares: 2014 -- 1,224,685,815; 2013 -- 1,153,131,611) | (150,715) | (137,242) |
| Accumulated other comprehensive income/(loss) | (27,875) | (21,602) |
| Total IBM stockholders' equity | 11,868 | 22,792 |
| Noncontrolling interests (Note A) | 146 | 137 |
| Total equity | 12,014 | 22,929 |
| Total liabilities and equity | 117,532 | 126,223 |
| External Links | |
| INTERNATIONAL BUSINESS MACHINES CORP (IBM) Fiscal Year 2014 | |
| 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 |