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Financial Highlights

International Business Machines Corporation and Subsidiary Companies


 
($ in millions except per share amounts)
For the year ended December 31: 2012 2011
Revenue $104,507 $106,916
Net income $16,604 $15,855
Operating (non-GAAP) earnings* $17,627 $16,318

Earnings per share of common stock:
   
Assuming dilution $14.37 $13.06
Basic $14.53 $13.25
Diluted operating (non-GAAP)* $15.25 $13.44
 
Net cash provided by operating activities $19,586 $19,846
Capital expenditures, net 4,307 4,059
Share repurchases 11,995 15,046
Cash dividends paid on common stock 3,773 3,473
Per share of common stock 3.30 2.90
At December 31: 2012 2011
Cash, cash equivalents and marketable securities $11,128 $11,922
Total assets 119,213 116,433
Working capital 5,807 8,805
Total debt 33,269 31,320
Total equity 18,984 20,236
Common shares outstanding (in millions) 1,117 1,163
Market capitalization $214,032 $213,886
Stock price per common share $191.55 $183.88
 
Number of employees in IBM/wholly owned subsidiaries 434,246 433,362
*See page 38 of the Report of Financials for a reconciliation of net income to operating earnings.