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: 2015 | |||
Consolidated Statement of Earnings | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 23, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenue | |||
| Services | $ 49,911 | 55,673 | 57,655 |
| Sales | 29,967 | 35,063 | 38,666 |
| Financing | 1,864 | 2,057 | 2,047 |
| Total revenue (Note T) | 81,741 | 92,793 | 98,367 |
| Cost | |||
| Services | 33,126 | 36,034 | 37,564 |
| Sales | 6,920 | 9,312 | 11,009 |
| Financing | 1,011 | 1,040 | 1,110 |
| Total cost | 41,057 | 46,386 | 49,683 |
| Gross profit | 40,684 | 46,407 | 48,684 |
| Expense and other (income) | |||
| Selling, general and administrative | 20,430 | 23,180 | 23,451 |
| Research, development and engineering (Note O) | 5,247 | 5,437 | 5,743 |
| Intellectual property and custom development income | (682) | (742) | (822) |
| Other (income) and expense | (724) | (1,938) | (333) |
| Interest expense (Note D&J) | 468 | 484 | 402 |
| Total expense and other (income) | 24,740 | 26,421 | 28,440 |
| Income from continuing operations before income taxes | 15,945 | 19,986 | 20,244 |
| Provision for income taxes (Note N) | 2,581 | 4,234 | 3,363 |
| Income from continuing operations | 13,364 | 15,751 | 16,881 |
| Loss from discontinued operations, net of tax (Note C) | (174) | (3,729) | (398) |
| Net income | 13,190 | 12,022 | 16,483 |
| Earnings/(loss) per share of common stock | |||
| Assuming dilution | |||
| Continuing operations (in dollars per share) (Note P) | 13.60 | 15.59 | 15.30 |
| Discontinued operations (in dollars per share) (Note P) | (0.18) | (3.69) | (0.36) |
| Total (in dollars per share) (Note P) | 13.42 | 11.90 | 14.94 |
| Basic | |||
| Continuing operations (in dollars per share) (Note P) | 13.66 | 15.68 | 15.42 |
| Discontinued operations (in dollars per share) (Note P) | (0.18) | (3.71) | (0.36) |
| Total (in dollars per share) (Note P) | 13.48 | 11.97 | 15.06 |
| Weighted-average number of common shares outstanding | |||
| Assuming dilution (in shares) | 982,700,267 | 1,010,000,480 | 1,103,042,156 |
| Basic (in shares) | 978,744,523 | 1,004,272,584 | 1,094,486,604 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2015 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 23, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 13,190 | 12,022 | 16,483 |
| Other comprehensive income/(loss), before tax | |||
| Foreign currency translation adjustments (Note L) | (1,379) | (1,636) | (1,335) |
| Net changes related to available-for-sale securities (Note L) | |||
| Unrealized gains/(losses) arising during the period | (54) | (29) | (4) |
| Reclassification of (gains)/losses to net income | 86 | 5 | (8) |
| Subsequent changes in previously impaired securities arising during the period | 4 | ||
| Total net changes related to available-for-sale securities | 32 | (24) | (8) |
| Unrealized gains/(losses) on cash flow hedges (Note L) | |||
| Unrealized gains/(losses) arising during the period | 618 | 958 | 43 |
| Reclassification of (gains)/losses to net income | (1,072) | (97) | (166) |
| Total unrealized gains/(losses) on cash flow hedges | (454) | 861 | (123) |
| Retirement-related benefit plans (Note L) | |||
| Prior service costs/(credits) | 6 | 1 | 16 |
| Net (losses)/gains arising during the period | (2,963) | (9,799) | 5,369 |
| Curtailments and settlements | 33 | 24 | (3) |
| Amortization of prior service (credits)/costs | (100) | (114) | (114) |
| Amortization of net (gains)/losses | 3,304 | 2,531 | 3,499 |
| Total retirement-related benefit plans | 279 | (7,357) | 8,767 |
| Other comprehensive income/(loss), before tax (Note L) | (1,523) | (8,156) | 7,301 |
| Income tax (expense)/benefit related to items of other comprehensive income (Note L) | (208) | 1,883 | (3,144) |
| Other comprehensive income/(loss) (Note L) | (1,731) | (6,274) | 4,157 |
| Total comprehensive income | 11,459 | 5,748 | 20,641 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTERNATIONAL BUSINESS MACHINES CORP | |||
Ticker: IBM Fiscal Year: 2015 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 23, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flows from operating activities | |||
| Net income | $ 13,190 | 12,022 | 16,483 |
| Adjustments to reconcile net income to cash provided by operating activities | |||
| Depreciation | 2,662 | 3,145 | 3,327 |
| Amortization of intangibles | 1,193 | 1,347 | 1,351 |
| Stock-based compensation | 468 | 512 | 614 |
| Deferred taxes | 1,387 | (237) | (1,610) |
| Net (gain)/loss on asset sales and other | 481 | (1,535) | (236) |
| Loss on Microelectronics business disposal | 71 | 3,381 | |
| Changes in operating assets and liabilities, net of acquisitions/divestitures | |||
| Receivables (including financing receivables) | 812 | 1,270 | (1,407) |
| Retirement related | (22) | (655) | 294 |
| Inventories | 133 | (39) | (57) |
| Other assets/other liabilities | (3,448) | (1,886) | (747) |
| Accounts payable | 81 | (456) | (529) |
| Net cash provided by operating activities | 17,008 | 16,868 | 17,485 |
| Cash flows from investing activities | |||
| Payments for property, plant and equipment | (3,579) | (3,740) | (3,623) |
| Proceeds from disposition of property, plant and equipment | 370 | 404 | 372 |
| Investment in software | (572) | (443) | (517) |
| Purchases of marketable securities and other investments | (3,073) | (2,338) | (4,608) |
| Proceeds from disposition of marketable securities and other investments | 2,842 | 2,493 | 4,873 |
| Non-operating finance receivables - net | (398) | (1,078) | (1,063) |
| Acquisition of businesses, net of cash acquired | (3,349) | (656) | (3,056) |
| Divestitures of businesses, net of cash transferred | (401) | 2,357 | 297 |
| Net cash used in investing activities | (8,159) | (3,001) | (7,326) |
| Cash flows from financing activities | |||
| Proceeds from new debt | 5,540 | 8,180 | 16,353 |
| Payments to settle debt | (5,622) | (4,644) | (10,013) |
| Short-term borrowings/(repayments) less than 90 days - net | 101 | (1,753) | 621 |
| Common stock repurchases | (4,609) | (13,679) | (13,859) |
| Common stock transactions - other | 322 | 709 | 1,074 |
| Cash dividends paid | (4,897) | (4,265) | (4,058) |
| Net cash used in financing activities | (9,166) | (15,452) | (9,883) |
| Effect of exchange rate changes on cash and cash equivalents | (473) | (655) | 28 |
| Net change in cash and cash equivalents | (790) | (2,240) | 304 |
| Cash and cash equivalents at January 1 | 8,476 | 10,716 | |
| Cash and cash equivalents at December 31 | 7,686 | 8,476 | 10,716 |
| Supplemental data | |||
| Income taxes paid-net of refunds received | 2,657 | 5,748 | 4,024 |
| Interest paid on debt | 995 | 1,061 | 982 |
| Capital lease obligations | 4 | 2 | 14 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTERNATIONAL BUSINESS MACHINES CORP | ||
Ticker: IBM Fiscal Year: 2015 | ||
Consolidated Statement of Financial Position | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 23, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 7,686 | 8,476 |
| Marketable securities (Note D) | 508 | 0 |
| Notes and accounts receivable - trade (net of allowances of $367 in 2015 and $336 in 2014) | 8,333 | 9,090 |
| Short-term financing receivables (net of allowances of $490 in 2015 and $452 in 2014) (Note F) | 19,020 | 19,835 |
| Other accounts receivable (net of allowances of $51 in 2015 and $40 in 2014) | 1,201 | 2,906 |
| Inventories (Note E) | 1,551 | 2,103 |
| Prepaid expenses and other current assets | 4,205 | 4,967 |
| Total current assets | 42,504 | 47,377 [1] |
| Property, plant and equipment (Note G) | 29,342 | 39,034 |
| Less: Accumulated depreciation (Note G) | 18,615 | 28,263 |
| Property, plant and equipment - net (Note G) | 10,727 | 10,771 |
| Long-term financing receivables (net of allowances of $118 in 2015 and $126 in 2014) (Note F) | 10,013 | 11,109 |
| Prepaid pension assets (Note S) | 1,734 | 2,160 |
| Deferred taxes (Note N) | 4,822 | 6,675 |
| Goodwill (Note I) | 32,021 | 30,556 |
| Intangible assets - net (Note I) | 3,487 | 3,104 |
| Investments and sundry assets (Note H) | 5,187 | 5,520 |
| Total assets | 110,495 | 117,271 [2] |
| Liabilities and equity | ||
| Current liabilities | ||
| Taxes (Note N) | 2,847 | 5,084 |
| Short-term debt (Note D&J) | 6,461 | 5,731 |
| Accounts payable | 6,028 | 6,864 |
| Compensation and benefits | 3,560 | 4,031 |
| Deferred income | 11,021 | 11,877 |
| Other accrued expenses and liabilities | 4,353 | 5,994 |
| Total current liabilities | 34,269 | 39,581 |
| Long-term debt (Note D&J) | 33,428 | 34,991 |
| Retirement and nonpension postretirement benefit obligations (Note S) | 16,504 | 18,261 |
| Deferred income | 3,771 | 3,691 |
| Other liabilities (Note K) | 8,099 | 8,733 |
| Total liabilities | 96,071 | 105,257 |
| 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 (2015 -- 2,221,223,449; 2014 -- 2,215,209,574) | 53,262 | 52,666 |
| Retained earnings | 146,124 | 137,793 |
| Treasury stock, at cost (shares: 2015 -- 1,255,494,724; 2014 -- 1,224,685,815) | (155,518) | (150,715) |
| Accumulated other comprehensive income/(loss) | (29,607) | (27,875) |
| Total IBM stockholders' equity | 14,262 | 11,868 |
| Noncontrolling interests (Note A) | 162 | 146 |
| Total equity | 14,424 | 12,014 |
| Total liabilities and equity | 110,495 | 117,271 |
| [1] Reclassified to reflect adoption of the FASB guidance on deferred taxes in consolidated financial statements. Refer to note B, "Accounting Changes," for additional information. | ||
| [2] Reclassified to reflect adoption of the FASB guidance on debt issuance costs in consolidated financial statements. Refer to note B, "Accounting Changes," for additional information. | ||
| External Links | |
| INTERNATIONAL BUSINESS MACHINES CORP (IBM) Fiscal Year 2015 | |
| 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 |