$IBM
INTERNATIONAL BUSINESS MACHINES CORP
CIK:0000051143|SEC Filings
CONSOLIDATED INCOME STATEMENT - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenue | $ 17,162 | $ 16,977 | $ 33,079 | $ 31,519 |
| Cost | 7,255 | 7,001 | 14,222 | 13,511 |
| Gross profit | 9,907 | 9,977 | 18,857 | 18,008 |
| Expense and other (income): | ||||
| Selling, general and administrative | 4,981 | 5,027 | 10,071 | 9,913 |
| Research and development | 2,311 | 2,097 | 4,485 | 4,047 |
| Intellectual property and custom development income | (166) | (215) | (338) | (468) |
| Other (income) and expense | (185) | (39) | (186) | (204) |
| Interest expense | 486 | 510 | 959 | 965 |
| Total expense and other (income) | 7,428 | 7,380 | 14,991 | 14,253 |
| Income from continuing operations before income taxes | 2,479 | 2,597 | 3,866 | 3,755 |
| Provision for/(benefit from) income taxes | 313 | 404 | 484 | 507 |
| Income from continuing operations | 2,166 | 2,193 | 3,382 | 3,248 |
| Income/(loss) from discontinued operations, net of tax | (1) | 1 | (1) | 1 |
| Net income | $ 2,165 | $ 2,194 | $ 3,381 | $ 3,249 |
| Assuming dilution: | ||||
| Continuing operations (in dollars per share) | $ 2.27 | $ 2.31 | $ 3.55 | $ 3.43 |
| Discontinued operations (in dollars per share) | 0.00 | 0.00 | 0.00 | 0.00 |
| Total (in dollars per share) | 2.27 | 2.31 | 3.55 | 3.43 |
| Basic: | ||||
| Continuing operations (in dollars per share) | 2.30 | 2.36 | 3.60 | 3.49 |
| Discontinued operations (in dollars per share) | 0.00 | 0.00 | 0.00 | 0.00 |
| Total (in dollars per share) | $ 2.30 | $ 2.36 | $ 3.60 | $ 3.50 |
| Weighted-average number of common shares outstanding: | ||||
| Assuming dilution (in shares) | 953,263,534 | 947,961,917 | 952,697,295 | 946,665,073 |
| Basic (in shares) | 941,192,024 | 930,807,276 | 939,862,828 | 929,407,000 |
| Services | ||||
| Revenue | $ 7,927 | $ 7,682 | $ 15,615 | $ 14,962 |
| Cost | 5,294 | 5,280 | 10,538 | 10,282 |
| Sales | ||||
| Revenue | 9,049 | 9,129 | 17,058 | 16,199 |
| Cost | 1,854 | 1,630 | 3,453 | 3,034 |
| Financing | ||||
| Revenue | 186 | 166 | 406 | 357 |
| Cost | $ 107 | $ 90 | $ 232 | $ 194 |
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 7,172 | $ 13,587 |
| Restricted cash | 45 | 54 |
| Marketable securities | 960 | 830 |
| Notes and accounts receivable — trade (net of allowances of $107 in 2026 and $99 in 2025) | 6,044 | 8,112 |
| Short-term financing receivables: | ||
| Held for investment (net of allowances of $94 in 2026 and $106 in 2025) | 5,782 | 7,344 |
| Held for sale | 874 | 1,131 |
| Other accounts receivable (net of allowances of $32 in 2026 and $37 in 2025) | 1,348 | 1,052 |
| Inventory, at lower of average cost or net realizable value: | ||
| Finished goods | 320 | 230 |
| Work in process and raw materials | 1,425 | 990 |
| Total inventory | 1,746 | 1,220 |
| Deferred costs | 1,238 | 1,084 |
| Prepaid expenses and other current assets | 3,188 | 2,530 |
| Total current assets | 28,398 | 36,944 |
| Property, plant and equipment | 17,603 | 17,874 |
| Less: Accumulated depreciation | 11,867 | 11,975 |
| Property, plant and equipment — net | 5,736 | 5,899 |
| Operating right-of-use assets — net | 3,068 | 3,129 |
| Long-term financing receivables (net of allowances of $28 in 2026 and $34 in 2025) | 7,126 | 7,708 |
| Prepaid pension assets | 7,645 | 7,544 |
| Deferred costs | 835 | 825 |
| Deferred taxes | 8,709 | 8,610 |
| Goodwill | 74,599 | 67,717 |
| Intangible assets — net | 13,955 | 11,391 |
| Investments and sundry assets | 2,028 | 2,112 |
| Total assets | 152,099 | 151,880 |
| Current liabilities: | ||
| Taxes | 2,023 | 2,347 |
| Short-term debt | 5,775 | 6,424 |
| Accounts payable | 4,395 | 4,756 |
| Compensation and benefits | 3,364 | 4,114 |
| Deferred income | 16,160 | 16,101 |
| Operating lease liabilities | 770 | 800 |
| Other accrued expenses and liabilities | 3,425 | 4,116 |
| Total current liabilities | 35,912 | 38,658 |
| Long-term debt | 56,212 | 54,836 |
| Retirement and nonpension postretirement benefit obligations | 8,603 | 9,018 |
| Deferred income | 4,272 | 4,271 |
| Operating lease liabilities | 2,515 | 2,547 |
| Other liabilities | 10,044 | 9,810 |
| Total liabilities | 117,558 | 119,139 |
| IBM stockholders’ equity: | ||
| Common stock | 64,600 | 63,318 |
| Retained earnings | 155,937 | 155,648 |
| Treasury stock - at cost | (170,934) | (170,605) |
| Accumulated other comprehensive income/(loss) | (15,151) | (15,713) |
| Total IBM stockholders’ equity | 34,452 | 32,648 |
| Noncontrolling interests | 89 | 93 |
| Total equity | 34,541 | 32,740 |
| Total liabilities and equity | $ 152,099 | $ 151,880 |