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Consolidated Financial Statements (Audited)
International Business Machines Corporation and Subsidiary Companies
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| Consolidated Statement of Financial Position |
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| AT DECEMBER 31: | NOTES | 2003 | 2002* | |||||||||
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| Assets | ||||||||||||
Current assets: |
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Cash and cash equivalents |
$ 7,290 | $ 5,382 | ||||||||||
Marketable securities |
D | 357 | 593 | |||||||||
Notes and accounts receivable — trade, net of allowances |
10,026 | 9,915 | ||||||||||
Short-term financing receivables |
F | 17,583 | 15,996 | |||||||||
Other accounts receivable |
1,314 | 1,447 | ||||||||||
Inventories |
E | 2,942 | 3,148 | |||||||||
Deferred taxes |
P | 2,542 | 2,617 | |||||||||
Intangible assets — net |
I | 336 | 245 | |||||||||
Prepaid expenses and other current assets |
2,608 | 2,379 | ||||||||||
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| Total current assets | 44,998 | 41,722 | ||||||||||
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| Plant, rental machines and other property | G | 37,122 | 36,083 | |||||||||
Less: Accumulated depreciation |
G | 22,433 | 21,643 | |||||||||
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| Plant, rental machines and other property — net | G | 14,689 | 14,440 | |||||||||
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| Long-term financing receivables | F | 10,741 | 11,440 | |||||||||
Prepaid pension assets |
W | 18,426 | 16,003 | |||||||||
Investments and sundry assets |
H | 8,108 | 8,272 | |||||||||
Goodwill |
I | 6,921 | 4,115 | |||||||||
Intangible assets — net |
I | 574 | 492 | |||||||||
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| Total Assets | $ 104,457 | $ 96,484 | ||||||||||
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Liabilities and Stockholders’ Equity Current liabilities: |
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Taxes |
P | $ 5,475 | $ 5,476 | |||||||||
Short-term debt |
K & L | 6,646 | 6,031 | |||||||||
Accounts payable |
8,460 | 7,630 | ||||||||||
Compensation and benefits |
3,671 | 3,724 | ||||||||||
Deferred income |
6,492 | 4,946 | ||||||||||
Other accrued expenses and liabilities |
7,156 | 6,413 | ||||||||||
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| Total current liabilities | 37,900 | 34,220 | ||||||||||
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| Long-term debt | K & L | 16,986 | 19,986 | |||||||||
Retirement and nonpension postretirement benefit obligations |
W | 14,251 | 13,215 | |||||||||
Other liabilities |
M | 7,456 | 6,281 | |||||||||
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| Total Liabilities | 76,593 | 73,702 | ||||||||||
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| Contingencies and commitments | O | |||||||||||
Stockholders’ equity: |
N | |||||||||||
Common stock, par value $.20 per share |
16,269 | 14,858 | ||||||||||
Shares authorized: 4,687,500,000 |
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Shares issued (2003 — 1,937,393,604; 2002 — 1,920,957,772) |
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Retained earnings |
37,525 | 31,555 | ||||||||||
Treasury stock, at cost (shares: 2003 — 242,884,969; 2002 — 198,590,876) |
(24,034 | ) | (20,213 | ) | ||||||||
Accumulated gains and (losses) not affecting retained earnings |
(1,896 | ) | (3,418 | ) | ||||||||
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| Total Stockholders’ Equity | 27,864 | 22,782 | ||||||||||
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| Total Liabilities and Stockholders’ Equity | $ 104,457 | $ 96,484 | ||||||||||
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| * | Reclassified to conform with 2003 presentation. | |||||||||||
The accompanying notes are an integral part of the financial statements. |
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Related Links |
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For More Information Year in Review — Financial Position Management Discussion Snapshot |
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Downloads Financial Report PDF (1.6MB) Get Adobe® Reader® |
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Guide to Understanding Basic Financials Basic Financial Statements and Notes About the Statements A Statement of Financial Position |
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On IBM.com Investor Relations Stockholder Services Investor Tools SEC Filings |
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Note: These links may contain non-audited content |
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