Return on equity
|($ in millions)|
|At December 31:||2007||2006|
* Calculated based upon an estimated tax rate principally based on Global Financing’s geographic mix of earnings as IBM’s provision for income taxes is determined on a consolidated basis.
** Average of the ending equity for Global Financing for the last five quarters.
|Global Financing After-tax income(a)*||$ 877||$ 914|
|Average Global Financing equity(b)**||$ 3,365||$ 3,097|
|Global Financing Return on equity(a)/(b)||26.1%||29.5%|