← INTERNATIONAL BUSINESS MACHINES CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $11.9b | $5.8b | $8.7b | $9.4b | $5.6b | $5.7b | $1.6b | $7.5b | $6.0b | $10.6b | |
| Net Income (Loss) Available to Common Stockholders, Basic | $11.9b | $5.8b | $8.7b | $9.4b | $5.6b | $5.7b | $1.6b | $7.5b | $6.0b | $10.6b | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | $5.8b | $8.7b | $9.4b | $5.5b | $4.7b | $1.8b | $7.5b | $6.0b | $10.6b | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $11.9b | — | — | — | — | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | ($5.0m) | $5.0m | ($4.0m) | $89.0m | $1.0b | ($143.0m) | ($12.0m) | $8.0m | $22.0m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($9.0m) | — | — | — | — | — | — | — | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $11.9b | $5.8b | $8.7b | $9.4b | $5.6b | $5.7b | $1.6b | — | — | — | |
| Amortization of Debt Issuance Costs | $576.0m | — | — | — | — | — | — | — | — | — | |
| Amortization of Intangible Assets | $1.5b | $1.5b | $1.4b | $1.9b | $2.5b | $2.5b | $2.4b | $2.3b | $2.5b | $2.7b | |
| Amortization of capitalized software and acquired intangible assets | $1.5b | $1.5b | $1.4b | $1.9b | $2.5b | $2.5b | $2.4b | $2.3b | $2.5b | $2.7b | |
| Depreciation | $2.8b | $3.0b | $3.1b | $4.2b | $4.2b | $3.9b | $2.4b | $2.1b | $2.2b | $2.3b | |
| Deferred Income Tax Expense (Benefit) | ($1.1b) | ($931.0m) | $853.0m | ($1.5b) | ($3.2b) | ($2.0b) | ($2.7b) | ($1.1b) | ($2.3b) | ($957.0m) | |
| Deferred taxes | ($1.1b) | ($931.0m) | $853.0m | ($1.5b) | ($3.2b) | ($2.0b) | ($2.7b) | ($1.1b) | ($2.3b) | ($957.0m) | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets, Finite-lived | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $126.0m | $193.0m | $171.0m | $272.0m | $302.0m | $319.0m | $407.0m | $402.0m | $651.0m | $1.0b | |
| Share-based Payment Arrangement, Expense | $544.0m | $534.0m | $510.0m | $679.0m | $937.0m | $919.0m | $987.0m | $1.1b | $1.3b | $1.7b | |
| Share-based Payment Arrangement, Noncash Expense | $544.0m | $534.0m | $510.0m | $679.0m | $937.0m | $982.0m | $987.0m | $1.1b | $1.3b | $1.7b | |
| Income Tax Expense (Benefit) | $449.0m | $5.6b | $2.6b | $731.0m | ($864.0m) | $124.0m | ($626.0m) | $1.2b | ($218.0m) | ($242.0m) | |
| Net (gain)/loss on divestitures, asset sales and other | — | — | — | — | — | — | ($363.0m) | ($170.0m) | ($652.0m) | ($39.0m) | |
| Operating Lease, Lease Income | — | — | — | $324.0m | $260.0m | $169.0m | $116.0m | $93.0m | $60.0m | $43.0m | |
| Other Nonoperating Income (Expense) | — | — | — | — | — | — | $443.0m | $266.0m | $877.0m | $221.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Noncash investing and financing activities: | |||||||||||
| Accounts payable | $197.0m | $47.0m | $126.0m | ($503.0m) | $138.0m | $85.0m | $213.0m | $65.0m | ($13.0m) | $624.0m | |
| Debt and Equity Securities, Realized Gain (Loss) | — | — | — | — | — | — | ($278.0m) | $39.0m | $20.0m | ($7.0m) | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | — | — | — | $126.0m | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | — | — | — | — | $643.0m | ($116.0m) | $458.0m | ($993.0m) | |
| Goodwill | $36.2b | $36.8b | $36.3b | $58.2b | $59.6b | $55.6b | $55.9b | $60.2b | $60.7b | $67.7b | |
| Increase (Decrease) in Accounts Payable | $197.0m | $47.0m | $126.0m | ($503.0m) | $138.0m | $85.0m | $213.0m | $65.0m | ($13.0m) | $624.0m | |
| Increase (Decrease) in Inventories | $14.0m | ($18.0m) | $127.0m | ($67.0m) | $209.0m | ($138.0m) | ($71.0m) | ($390.0m) | $166.0m | ($70.0m) | |
| Inventory | ($14.0m) | $18.0m | ($127.0m) | $67.0m | ($209.0m) | $138.0m | $71.0m | $390.0m | ($166.0m) | $70.0m | |
| Investment in software | ($583.0m) | ($544.0m) | ($569.0m) | ($621.0m) | ($612.0m) | ($706.0m) | ($626.0m) | ($565.0m) | ($637.0m) | ($647.0m) | |
| Other assets/other liabilities | $282.0m | $4.4b | ($1.8b) | $858.0m | $2.1b | ($671.0m) | ($115.0m) | $1.5b | $1.6b | $495.0m | |
| Pension settlement charges | — | — | — | — | — | $0 | $5.9b | $0 | $3.1b | $0 | |
| Proceeds from Stock Options Exercised | — | — | — | — | — | — | — | $51.0m | $317.0m | $233.0m | |
| Proceeds from disposition of marketable securities and other investments | $5.7b | $3.9b | $6.5b | $4.0b | $5.6b | $3.1b | $4.7b | $10.6b | $6.5b | $9.7b | |
| Proceeds from issuance of shares | $204.0m | $175.0m | — | — | — | — | $279.0m | $414.0m | $745.0m | $710.0m | |
| Purchases of property and equipment, accrued but unpaid | $3.6b | $3.2b | $3.4b | $2.3b | $2.6b | $2.1b | $1.3b | $1.2b | $1.0b | $1.1b | |
| Receivables (including financing receivables) | $712.0m | $1.3b | $1.0b | $502.0m | $5.3b | $1.4b | ($539.0m) | $725.0m | ($374.0m) | ($4.3b) | |
| Retirement related | $54.0m | $1.0b | $1.4b | $301.0m | $936.0m | $1.0b | $331.0m | ($462.0m) | $265.0m | ($50.0m) | |
| Sales-type Lease, Selling Profit (Loss) | — | — | — | $918.0m | $917.0m | $1.1b | $1.3b | $1.0b | $689.0m | $1.7b | |
| Short-term borrowings/(repayments) less than 90 days—net | $26.0m | $620.0m | $1.3b | ($2.6b) | ($853.0m) | ($40.0m) | $217.0m | ($7.0m) | $30.0m | ($29.0m) | |
| Stock-based compensation | $544.0m | $534.0m | $510.0m | $679.0m | $937.0m | $982.0m | $987.0m | $1.1b | $1.3b | $1.7b | |
| Unrealized Gain (Loss) on Derivatives | — | — | — | — | — | — | ($225.0m) | $17.0m | — | — | |
| Derivative, Gain (Loss) on Derivative, Net | ($18.0m) | $153.0m | ($327.0m) | $302.0m | $220.0m | $150.0m | ($1.2b) | ($140.0m) | ($504.0m) | $362.0m | |
| Gain (Loss) on Derivative Instruments, Net, Pretax | — | — | — | — | — | — | — | — | ($515.0m) | $641.0m | |
| Net Cash Provided by (Used in) Operating Activities | $17.0b | $16.7b | $15.2b | $14.8b | $18.2b | $12.8b | $10.4b | $13.9b | $13.4b | $13.2b | |
| Cash flows from investing activities: | |||||||||||
| Payments for property, plant and equipment | $424.0m | $460.0m | $248.0m | $537.0m | $188.0m | $387.0m | $111.0m | $321.0m | $557.0m | $121.0m | |
| Payments to Acquire Property, Plant, and Equipment | $3.6b | $3.2b | $3.4b | $2.3b | $2.6b | $2.1b | $1.3b | $1.2b | $1.0b | $1.1b | |
| Acquisition of businesses, net of cash acquired | ($5.7b) | ($496.0m) | ($139.0m) | ($32.6b) | ($336.0m) | ($3.3b) | ($2.3b) | ($5.1b) | ($3.3b) | ($8.3b) | |
| Payments to Acquire Businesses, Net of Cash Acquired | $5.7b | $496.0m | $139.0m | $32.6b | $336.0m | $3.3b | $2.3b | $5.1b | $3.3b | $8.3b | |
| Payments to Acquire Investments | $5.9b | $5.0b | $7.0b | $3.7b | $6.2b | $3.6b | $5.9b | $11.1b | $7.8b | $10.1b | |
| Purchases of marketable securities and other investments | ($5.9b) | ($5.0b) | ($7.0b) | ($3.7b) | ($6.2b) | ($3.6b) | ($5.9b) | ($11.1b) | ($7.8b) | ($10.1b) | |
| Divestiture of businesses, net of cash transferred | ($454.0m) | ($205.0m) | — | $1.1b | $503.0m | $114.0m | $1.3b | ($4.0m) | $698.0m | ($1.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($11.0b) | ($7.1b) | ($4.9b) | ($26.9b) | ($3.0b) | ($6.0b) | ($4.2b) | ($7.1b) | ($4.9b) | ($10.3b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from new debt | $9.1b | $9.6b | $6.9b | $31.8b | $10.5b | $522.0m | $7.8b | $9.6b | $5.7b | $8.4b | |
| Payments to settle debt | ($6.4b) | ($6.8b) | ($8.5b) | ($12.9b) | ($13.4b) | ($8.6b) | ($6.8b) | ($5.1b) | ($6.6b) | ($5.5b) | |
| Common stock repurchases for tax withholdings | ($126.0m) | ($193.0m) | ($171.0m) | ($272.0m) | ($302.0m) | ($319.0m) | ($407.0m) | ($402.0m) | ($651.0m) | ($1.0b) | |
| Payments for Repurchase of Common Stock | $3.5b | $4.3b | $4.4b | $1.4b | — | — | — | — | — | — | |
| Payments of Ordinary Dividends, Common Stock | $5k | $6k | $6k | $6k | $6k | $6k | $6k | $6k | $6k | $6k | |
| Cash dividends paid | ($5k) | ($6k) | ($6k) | ($6k) | ($6k) | ($6k) | ($6k) | ($6k) | ($6k) | ($6k) | |
| Financing—other | $204.0m | $175.0m | $111.0m | $99.0m | $92.0m | $70.0m | $176.0m | $176.0m | ($145.0m) | ($139.0m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | $111.0m | $99.0m | $92.0m | $70.0m | $176.0m | $176.0m | ($145.0m) | ($139.0m) | |
| Net Cash Provided by (Used in) Financing Activities | ($5.8b) | ($6.4b) | ($10.5b) | $9.0b | ($9.7b) | ($13.4b) | ($5.0b) | ($1.8b) | ($7.1b) | ($3.8b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | ($495.0m) | ($167.0m) | ($87.0m) | ($185.0m) | ($244.0m) | $9.0m | ($359.0m) | $418.0m | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ($51.0m) | $937.0m | ($495.0m) | ($167.0m) | ($87.0m) | ($185.0m) | ($244.0m) | $9.0m | ($359.0m) | $418.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | ($630.0m) | ($3.3b) | $5.4b | ($6.7b) | $1.0b | $5.1b | $1.1b | ($520.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $11.6b | $8.3b | $13.7b | $7.0b | $8.0b | $13.1b | $14.2b | $13.6b | |
| Cash, cash equivalents and restricted cash at January 1 | $8.1b | $12.2b | $11.6b | $8.3b | $13.7b | $7.0b | $8.0b | $13.1b | $14.2b | $13.6b | |
| Net change in cash, cash equivalents and restricted cash | $188.0m | $4.2b | ($630.0m) | ($3.3b) | $5.4b | ($6.7b) | $1.0b | $5.1b | $1.1b | ($520.0m) | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $1.2b | $1.2b | $1.4b | $1.7b | $1.8b | $1.5b | $1.4b | $1.7b | $2.0b | $2.0b | |
| Income Taxes Paid, Net | $1.1b | $1.6b | $1.7b | $2.1b | $2.3b | $2.1b | $1.9b | $1.6b | $1.7b | $1.9b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.