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Financials

International Business Machines Corporation and Subsidiary Companies


 
($ in millions except per share amounts)

For the year ended December 31: 2011 2010
Revenue $106,916 $99,870
Net income $15,855 $14,833
Operating (non-GAAP) earnings* $16,318 $15,023

Earnings per share of common stock:
   
Assuming dilution $13.06 $11.52
Basic $13.25 $11.69
Diluted operation (non-GAAP)* $13.44 $11.67
 
Net cash provided by operating activities $19,846 $19,549
Capital expenditures, net 4,059 3,984
Share repurchases 15,046 15,375
Cash dividends paid on common stock 3,473 3,177
Per share of common stock 2.90 2.50
At December 31: 2011 2010
Cash, cash equivalents and marketable securities $11,922 $11,651
Total assets 116,433 113,452
Working capital 8,805 7,554
Total debt 31,320 28,624
Total equity 20,236 23,172
Common shares outstanding (in millions) 1,163 1,228
Market capitalization $213,886 $180,220
Stock price per common share $183.88 $146.76
 
Number of employees in IBM/wholly owned subsidiaries 433,362 426,751
*See page 38 of the the Report of Financials for a reconciliation of net income to operating earnings.