Financial Highlights

International Business Machines Corporation and Subsidiary Companies

 
($ in millions except per share amounts)
For the year ended December 31: 2013 2012
Revenue $99,751 $104,507
Net income $16,483 $16,604
Operating (non-GAAP) earnings* $17,959 $17,627

Earnings per share of common stock
Assuming dilution $14.94 $14.37
Basic $15.06 $14.53
Diluted operating (non-GAAP)* $16.28 $15.25
 
Net cash provided by operating activities $17,485 $19,586
Capital expenditures, net 3,768 4,307
Share repurchases 13,859 11,995
Cash dividends paid on common stock 4,058 3,773
Per share of common stock 3.70 3.30
At December 31: 2013 2012
Cash, cash equivalents and marketable securities $11,066 $11,128
Total assets 126,223 119,213
Working capital 11,196 5,807
Total debt 39,718 33,269
Total equity 22,929 18,984
Common shares outstanding (in millions) 1,054 1,117
Market capitalization $197,772 $214,032
Stock price per common share $187.57 $191.55
 
Number of employees in IBM/wholly owned subsidiaries 431,212 434,246
*See page 46 of the Report of Financials for a reconciliation of net income to operating earnings.