International Business Machines Corporation (IBM) financial statements: income statement, balance sheet and cash flow
International Business Machines Corporation's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), International Business Machines Corporation reported revenue of $67.5B (+7.6% year on year) and net income of $10.6B (+75.9% year on year).
Income statement
International Business Machines Corporation income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$67.5B
$62.8B
$61.9B
$60.5B
Cost
$28.2B
$27.2B
$27.6B
$27.8B
Gross profit
$39.3B
$35.6B
$34.3B
$32.7B
Selling, general and administrative
$20.1B
$19.7B
$19.0B
$18.6B
Research and development
$8.3B
$7.5B
$6.8B
$6.6B
Intellectual property and custom development income
($964.0M)
($996.0M)
($860.0M)
($663.0M)
Other (income) and expense
($442.0M)
$1.9B
($914.0M)
—
Interest expense
$1.9B
$1.7B
$1.6B
$1.2B
Total expense and other (income)
$29.0B
$29.8B
$25.6B
$31.5B
Income from continuing operations before income taxes
$10.3B
$5.8B
$8.7B
$1.2B
Provision for/(benefit from) income taxes
($242.0M)
($218.0M)
$1.2B
($626.0M)
Income from continuing operations
$10.6B
$6.0B
$7.5B
$1.8B
Income/(loss) from discontinued operations, net of tax
$22.0M
$8.0M
($12.0M)
($143.0M)
Net income
$10.6B
$6.0B
$7.5B
$1.6B
Continuing operations (in dollars per share)
$11.14
$6.42
$8.15
$1.95
Total (in dollars per share)
$11.17
$6.43
$8.14
$1.80
Continuing operations (in dollars per share)
$11.34
$6.53
$8.25
$1.97
Discontinued operations (in dollars per share)
$0.02
$0.01
-$0.01
-$0.16
Total (in dollars per share)
$11.36
$6.53
$8.23
$1.82
Assuming dilution (in shares)
948.7M
937.2M
922.1M
912.3M
Basic (in shares)
932.3M
921.8M
911.2M
902.7M
International Business Machines Corporation income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Revenue
$17.1B
$17.2B
$15.9B
$16.3B
Cost
$7.4B
$7.3B
$7.0B
$7.0B
Gross profit
$9.7B
$9.9B
$8.9B
$9.4B
Selling, general and administrative
$4.6B
$5.0B
$5.1B
$4.7B
Research and development
$2.4B
$2.3B
$2.2B
$2.1B
Intellectual property and custom development income
($164.0M)
($166.0M)
($172.0M)
($219.0M)
Other (income) and expense
($109.0M)
($185.0M)
($1.0M)
($173.0M)
Interest expense
$491.0M
$486.0M
$473.0M
$492.0M
Total expense and other (income)
$7.2B
$7.4B
$7.6B
$6.9B
Income from continuing operations before income taxes
$2.5B
$2.5B
$1.4B
$2.4B
Provision for/(benefit from) income taxes
$298.0M
$313.0M
$172.0M
$686.0M
Income from continuing operations
$2.2B
$2.2B
$1.2B
$1.7B
Income/(loss) from discontinued operations, net of tax
($10.0M)
($1.0M)
$0
$0
Net income
$2.2B
$2.2B
$1.2B
$1.7B
Continuing operations (in dollars per share)
$2.31
$2.27
$1.28
$1.84
Total (in dollars per share)
$2.30
$2.27
$1.28
$1.84
Continuing operations (in dollars per share)
$2.33
$2.30
$1.30
$1.87
Discontinued operations (in dollars per share)
-$0.01
$0.00
$0.00
$0.00
Total (in dollars per share)
$2.32
$2.30
$1.30
$1.87
Assuming dilution (in shares)
953.5M
953.3M
952.1M
948.9M
Basic (in shares)
944.4M
941.2M
938.5M
933.9M
Balance sheet
International Business Machines Corporation balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$13.6B
$13.9B
$13.1B
$7.9B
Restricted cash
$54.0M
$214.0M
$21.0M
$103.0M
Marketable securities
$830.0M
$644.0M
$373.0M
$852.0M
Notes and accounts receivable—trade (net of allowances of $99 in 2025 and $114 in 2024)
$8.1B
$6.8B
$7.2B
$6.5B
Held for investment (net of allowances of $106 in 2025 and $109 in 2024)
$7.3B
$6.3B
$6.1B
—
Held for sale
$1.1B
$900.0M
$692.0M
$939.0M
Other accounts receivable (net of allowances of $37 in 2025 and $31 in 2024)
$1.1B
$947.0M
$640.0M
$817.0M
Inventory
$1.2B
$1.3B
$1.2B
$1.6B
Deferred costs
$1.1B
$959.0M
$998.0M
$967.0M
Prepaid expenses and other current assets
$2.5B
$2.5B
$2.6B
$2.6B
Total current assets
$36.9B
$34.5B
$32.9B
$29.1B
Property, plant and equipment
$17.9B
$17.7B
$18.1B
—
Less: Accumulated depreciation
$12.0B
$12.0B
$12.6B
—
Property, plant and equipment—net
$5.9B
$5.7B
$5.5B
—
Operating right-of-use assets—net
$3.1B
$3.2B
$3.2B
$2.9B
Long-term financing receivables (net of allowances of $34 in 2025 and $19 in 2024)
$7.7B
$5.4B
$5.8B
$5.8B
Prepaid pension assets
$7.5B
$7.5B
$7.5B
$8.2B
Deferred costs
$825.0M
$788.0M
$842.0M
$866.0M
Deferred taxes
$8.6B
$7.0B
$6.7B
$6.3B
Goodwill
$67.7B
$60.7B
$60.2B
$55.9B
Intangible assets—net
$11.4B
$10.7B
$11.0B
$11.2B
Investments and sundry assets
$2.1B
$1.8B
$1.6B
$1.6B
Total assets
$151.9B
$137.2B
$135.2B
$127.2B
Taxes
$2.3B
$2.0B
$2.3B
$2.2B
Short-term debt
$6.4B
$5.1B
$6.4B
$4.8B
Accounts payable
$4.8B
$4.0B
$4.1B
$4.1B
Compensation and benefits
$4.1B
$3.6B
$3.5B
$3.5B
Deferred income
$16.1B
$13.9B
$13.5B
$12.0B
Operating lease liabilities
$800.0M
$768.0M
$820.0M
$874.0M
Other accrued expenses and liabilities
$4.1B
$3.7B
$3.5B
$4.1B
Total current liabilities
$38.7B
$33.1B
$34.1B
$31.5B
Long-term debt
$54.8B
$49.9B
$50.1B
$46.2B
Retirement and nonpension postretirement benefit obligations
$9.0B
$9.4B
$10.8B
$9.6B
Deferred income
$4.3B
$3.6B
$3.5B
$3.5B
Operating lease liabilities
$2.5B
$2.7B
$2.6B
$2.2B
Other liabilities
$9.8B
$11.0B
$11.5B
$12.2B
Total liabilities
$119.1B
$109.8B
$112.6B
$105.2B
Common stock and additional paid-in capital
$63.3B
$61.4B
$59.6B
$58.3B
Retained earnings
$155.6B
$151.2B
$151.3B
$149.8B
Treasury stock, at cost (shares: 2025—1,353,666,394; 2024—1,352,874,243)
-170.6B
-170.0B
-169.6B
-169.5B
Accumulated other comprehensive income/(loss)
($15.7B)
($15.3B)
($18.8B)
($16.7B)
Total IBM stockholders' equity
$32.6B
$27.3B
$22.5B
$21.9B
Noncontrolling interests
$93.0M
$86.0M
$80.0M
$77.0M
Total equity
$32.7B
$27.4B
$22.6B
$22.0B
Total liabilities and equity
$151.9B
$137.2B
$135.2B
$127.2B
International Business Machines Corporation balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$9.2B
$7.2B
$10.8B
$11.6B
Restricted cash
$48.0M
$45.0M
$45.0M
$30.0M
Marketable securities
$1.8B
$960.0M
$964.0M
$3.3B
Notes and accounts receivable — trade (net of allowances of $115 in 2026 and $99 in 2025)
$5.8B
$6.0B
$6.5B
$5.5B
Held for investment (net of allowances of $92 in 2026 and $106 in 2025)
$5.6B
$5.8B
$5.8B
$5.2B
Held for sale
$774.0M
$874.0M
$743.0M
$745.0M
Other accounts receivable (net of allowances of $29 in 2026 and $37 in 2025)
$1.7B
$1.3B
$1.2B
$1.2B
Finished goods
$320.0M
$320.0M
$268.0M
$314.0M
Work in process and raw materials
$1.6B
$1.4B
$1.2B
$1.1B
Total inventory
$1.9B
$1.7B
$1.5B
$1.4B
Deferred costs
$1.2B
$1.2B
$1.2B
$1.1B
Prepaid expenses and other current assets
$3.1B
$3.2B
$3.2B
$2.7B
Total current assets
$31.2B
$28.4B
$31.9B
$32.7B
Property, plant and equipment
$17.7B
$17.6B
$17.8B
$18.1B
Less: Accumulated depreciation
$11.6B
$11.9B
$12.0B
$12.2B
Property, plant and equipment — net
$6.0B
$5.7B
$5.8B
$5.9B
Operating right-of-use assets — net
$3.1B
$3.1B
$3.2B
$3.2B
Long-term financing receivables (net of allowances of $28 in 2026 and $34 in 2025)
$6.8B
$7.1B
—
—
Prepaid pension assets
$7.7B
$7.6B
$7.6B
$8.0B
Deferred costs
$808.0M
$835.0M
$831.0M
$768.0M
Deferred taxes
$8.8B
$8.7B
$8.6B
$8.5B
Goodwill
$74.9B
$74.6B
$74.7B
$67.4B
Intangible assets — net
$13.6B
$14.0B
$14.6B
$11.7B
Investments and sundry assets
$1.9B
$2.0B
$2.0B
$1.8B
Total assets
$155.0B
$152.1B
$156.2B
$146.3B
Taxes
$1.9B
$2.0B
$2.1B
$1.7B
Short-term debt
$7.0B
$5.8B
$8.7B
$7.9B
Accounts payable
$4.5B
$4.4B
$4.0B
$3.9B
Compensation and benefits
$3.7B
$3.4B
$3.9B
$3.5B
Deferred income
$15.2B
$16.2B
$17.0B
$13.9B
Operating lease liabilities
$749.0M
$770.0M
$798.0M
$807.0M
Other accrued expenses and liabilities
$3.5B
$3.4B
$3.6B
$3.5B
Total current liabilities
$36.5B
$35.9B
$40.1B
$35.1B
Long-term debt
$56.8B
$56.2B
$57.7B
$55.2B
Retirement and nonpension postretirement benefit obligations
$8.5B
$8.6B
$8.8B
$9.7B
Deferred income
$4.3B
$4.3B
$4.2B
$3.9B
Operating lease liabilities
$2.6B
$2.5B
$2.6B
$2.6B
Other liabilities
$10.2B
$10.0B
$9.8B
$11.8B
Total liabilities
$118.8B
$117.6B
$123.2B
$118.3B
Common stock
$65.1B
$64.6B
$63.9B
$62.8B
Retained earnings
$156.6B
$155.9B
$155.3B
$151.6B
Treasury stock - at cost
($171.2B)
($170.9B)
($170.9B)
($170.5B)
Accumulated other comprehensive income/(loss)
($15.0B)
($15.2B)
($15.4B)
($16.0B)
Total IBM stockholders’ equity
$35.5B
$34.5B
$33.0B
$27.9B
Noncontrolling interests
$669.0M
$89.0M
$81.0M
$85.0M
Cash flow statement
International Business Machines Corporation cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$10.6B
$6.0B
$7.5B
$1.6B
Pension settlement charges
$0
$3.1B
$0
$5.9B
Depreciation
$2.3B
$2.2B
$2.1B
$2.4B
Amortization of capitalized software and acquired intangible assets
$2.7B
$2.5B
$2.3B
$2.4B
Stock-based compensation
$1.7B
$1.3B
$1.1B
$987.0M
Deferred taxes
($957.0M)
($2.3B)
($1.1B)
($2.7B)
Net (gain)/loss on divestitures, asset sales and other
($39.0M)
($652.0M)
—
—
Receivables (including financing receivables)
($4.3B)
($374.0M)
$725.0M
($539.0M)
Retirement related
($50.0M)
$265.0M
($462.0M)
$331.0M
Inventory
$70.0M
($166.0M)
$390.0M
$71.0M
Other assets/other liabilities
$495.0M
$1.6B
$1.5B
($115.0M)
Accounts payable
$624.0M
($13.0M)
$65.0M
$213.0M
Net cash provided by operating activities
$13.2B
$13.4B
$13.9B
$10.4B
Payments for property, plant and equipment
($1.1B)
($1.0B)
($1.2B)
($1.3B)
Proceeds from disposition of property, plant and equipment/other
$121.0M
$557.0M
—
—
Investment in software
($647.0M)
($637.0M)
($565.0M)
($626.0M)
Purchases of marketable securities and other investments
($10.1B)
($7.8B)
($11.1B)
($5.9B)
Proceeds from disposition of marketable securities and other investments
$9.7B
$6.5B
$10.6B
$4.7B
Acquisition of businesses, net of cash acquired
($8.3B)
($3.3B)
($5.1B)
($2.3B)
Divestiture of businesses, net of cash transferred
($1.0M)
$698.0M
($4.0M)
$1.3B
Net cash provided by/(used in) investing activities
($10.3B)
($4.9B)
($7.1B)
($4.2B)
Proceeds from new debt
$8.4B
$5.7B
$9.6B
$7.8B
Payments to settle debt
($5.5B)
($6.6B)
($5.1B)
($6.8B)
Short-term borrowings/(repayments) less than 90 days—net
($29.0M)
$30.0M
($7.0M)
$217.0M
Common stock repurchases for tax withholdings
($1.0B)
($651.0M)
($402.0M)
($407.0M)
Proceeds from issuance of shares
710.0M
745.0M
—
—
Financing—other
($139.0M)
($145.0M)
$176.0M
$176.0M
Cash dividends paid
($6.3B)
($6.1B)
($6.0B)
($5.9B)
Net cash provided by/(used in) financing activities
($3.8B)
($7.1B)
($1.8B)
($5.0B)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
$418.0M
($359.0M)
$9.0M
($244.0M)
Net change in cash, cash equivalents and restricted cash
($520.0M)
$1.1B
$5.1B
$1.0B
Cash, cash equivalents and restricted cash at January 1
$14.2B
$13.1B
$8.0B
$7.0B
Cash, cash equivalents and restricted cash at December 31
$13.6B
$14.2B
$13.1B
$8.0B
Income taxes paid—net of refunds received
$1.9B
$1.7B
$1.6B
$1.9B
Interest paid on debt
$2.0B
$2.0B
$1.7B
$1.4B
International Business Machines Corporation cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net income
$5.6B
$3.4B
$1.2B
$5.0B
Depreciation
$1.6B
$1.1B
$555.0M
$1.7B
Amortization of capitalized software and acquired intangible assets
$2.4B
$1.5B
$719.0M
$2.0B
Stock-based compensation
$1.5B
$1.0B
$506.0M
$1.3B
Net (gain)/loss on divestitures, asset sales and other
($124.0M)
($78.0M)
($11.0M)
($46.0M)
Changes in operating assets and liabilities, net of acquisitions/divestitures
$804.0M
$836.0M
$2.2B
($804.0M)
Net cash provided by operating activities
$11.8B
$7.8B
$5.2B
$9.2B
Payments for property, plant and equipment
($793.0M)
($461.0M)
($232.0M)
($709.0M)
Proceeds from disposition of property, plant and equipment/other
$60.0M
$31.0M
$8.0M
$118.0M
Investment in software
($467.0M)
($313.0M)
($159.0M)
($476.0M)
Purchases of marketable securities and other investments
($4.8B)
($2.9B)
($1.6B)
($8.9B)
Proceeds from disposition of marketable securities and other investments
$3.8B
$3.1B
$2.0B
$6.2B
Acquisition of businesses, net of cash acquired
($11.4B)
($10.5B)
($10.5B)
($7.9B)
Divestiture of businesses, net of cash transferred
$30.0M
$1.0M
$1.0M
($1.0M)
Net cash provided by/(used in) investing activities
($13.5B)
($11.0B)
($10.5B)
($11.7B)
Proceeds from new debt
$9.4B
$7.4B
$7.4B
$8.4B
Payments to settle debt
($7.3B)
($7.1B)
($2.9B)
($3.7B)
Short-term borrowings/(repayments) less than 90 days — net
$3.0M
$0
$0
($29.0M)
Common stock repurchases for tax withholdings
($817.0M)
($465.0M)
($350.0M)
($851.0M)
Proceeds from issuance of shares
562.0M
418.0M
178.0M
535.0M
Noncontrolling interest transactions
$557.0M
—
—
—
Financing — other
($98.0M)
($91.0M)
($42.0M)
($109.0M)
Cash dividends paid
($4.8B)
($3.2B)
($1.6B)
($4.7B)
Net cash provided by/(used in) financing activities
($2.4B)
($3.0B)
$2.7B
($423.0M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
($209.0M)
($211.0M)
($177.0M)
$429.0M
Net change in cash, cash equivalents and restricted cash
($4.4B)
($6.4B)
($2.8B)
($2.6B)
Cash, cash equivalents and restricted cash at January 1
$13.6B
$13.6B
$13.6B
$14.2B
Cash, cash equivalents and restricted cash at September 30