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International Business Machines (IBM)

Balance Sheet

Annual Financials for International Business Machines

All amounts in millions except per share 12/2007 12/2006 12/2005 12/2004
amounts. (TTM) (TTM) (TTM) (TTM)

Assets Amount Amount Amount Amount

Cash and Equivalents 14,991.00 8,022.00 12,568.00 10,053.00
Restricted Cash 0.00 0.00 0.00 0.00
Marketable Securities 1,155.00 2,634.00 1,118.00 517.00
Accounts Receivable 12,500.00 11,753.00 10,678.00 12,335.00
 Loans Receivable 16,289.00 15,095.00 13,750.00 15,801.00
Other Receivable 0.00 0.00 0.00 0.00
Receivables 28,789.00 26,848.00 24,428.00 28,136.00
Raw Materials 0.00 0.00 0.00 0.00
Work In Progress 1,996.00 2,304.00 1,939.00 2,137.00
Purchased Components 0.00 0.00 0.00 0.00
Finished Goods 668.00 506.00 902.00 1,179.00
Other Inventories 0.00 0.00 0.00 0.00
Inventories -Adj Allowances 0.00 0.00 0.00 0.00
Inventories 2,664.00 2,810.00 2,841.00 3,316.00
Prepaid Expenses 3,891.00 2,539.00 2,941.00 2,708.00
Current Deferred Income Taxes 1,687.00 1,806.00 1,765.00 2,413.00
Other Current Assets 0.00 0.00 0.00 0.00
 Total Current Assets 53,177.00 44,660.00 45,661.00 47,143.00
Gross Fixed Assets (Plant, Prop. & 38,584.00 36,521.00 34,261.00 36,385.00
Equip.)
Accumulated Depreciation & Depletion 23,503.00 22,081.00 20,505.00 21,210.00
Net Fixed Assets 15,081.00 14,440.00 13,756.00 15,175.00
Intangibles 2,107.00 2,202.00 1,663.00 10,226.00
Cost in Excess 14,285.00 12,854.00 9,441.00 0.00
Non-Current Deferred Income Taxes 1,513.00 0.00 0.00 0.00
Other Non-Current Assets 34,268.00 29,078.00 35,227.00 38,459.00
Total Non Current Assets 67,254.00 58,574.00 60,087.00 63,860.00
Total Assets 120,431.00 103,234.00 105,748.00 111,003.00
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International Business Machines (IBM)

Liabilities

All amounts in millions except per 12/2007 12/2006 12/2005 12/2004

share amounts. (TTM) (TTM) (TTM) (TTM)
Liabilities Amount Amount Amount Amount
Accounts Payable 8,054.00 7,964.00 7,349.00 26,959.00
Notes Payable 0.00 0.00 0.00 0.00
 Short Term Debt 12,235.00 8,902.00 7,216.00 8,099.00
Accrued Expenses 5,901.00 5,372.00 5,233.00 0.00
Accrued Liabilities 0.00 0.00 0.00 0.00
Deferred Revenues 9,802.00 8,587.00 7,319.00 0.00
Current Deferred Income Taxes 0.00 0.00 0.00 0.00
Other Current Liabilities 8,318.00 9,265.00 8,035.00 4,728.00
Total Current Liabilities 44,310.00 40,091.00 35,152.00 39,786.00
Long Term Debt 23,039.00 13,780.00 15,425.00 14,828.00
Capital Lease Obligations 0.00 0.00 0.00 0.00
Deferred Income Taxes 1,064.00 0.00 0.00 0.00
Other Non-Current Liabilities 23,548.00 20,857.00 22,073.00 24,701.00
Minority Interest 0.00 0.00 0.00 0.00
Preferred Securities of Subsidiary Trust 0.00 0.00 0.00 0.00
Preferred Equity outside Stock Equity 0.00 0.00 0.00 0.00
Total Non-Current Liabilities 47,651.00 34,637.00 37,498.00 39,529.00
Total Liabilities 91,961.00 74,727.00 72,650.00 79,315.00
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International Business Machines (IBM)

Stockholder's Equity

All amounts in millions except per 12/2007 12/2006 12/2005 12/2004

share amounts. (TTM) (TTM) (TTM) (TTM)
Stockholder's Equity Amount Amount Amount Amount
Preferred Stock Equity 0.00 0.00 0.00 0.00
Common Stock Equity 28,470.00 28,506.00 33,098.00 31,688.00
Common Par 35,188.00 31,271.00 28,926.00 26,673.00
Additional Paid In Capital 0.00 0.00 0.00 0.00
Cumulative Translation Adjustment 3,655.00 2,929.00 0.00 0.00
Retained Earnings 60,640.00 52,432.00 44,734.00 38,148.00
Treasury Stock -63,945.00 -46,296.00 -38,546.00 -31,072.00
Other Equity Adjustments -7,069.00 -11,830.00 -2,016.00 -2,061.00
Total Equity 28,470.00 28,506.00 33,098.00 31,688.00
Total Capitalization 51,509.00 42,286.00 48,523.00 46,516.00
Total Liabilities & Stock Equity 120,431.00 103,233.00 105,748.00 111,003.00

Additional Data
All amounts in millions except per 12/2007 12/2006 12/2005 12/2004
share amounts. (TTM) (TTM) (TTM) (TTM)
Additional Data Amount Amount Amount Amount
Cash Flow 15,619.00 14,475.00 13,158.00 12,394.00
Working Capital 8,867.00 4,570.00 10,509.00 7,357.00
Free Cash Flow 7,738.00 4,359.00 8,440.00 7,323.00
Invested Capital 51,509.00 42,286.00 48,523.00 46,516.00

Share Data

Share Data 12/2007 12/2006 12/2005 12/2004

(TTM) (TTM) (TTM) (TTM)
Shares Outstanding Common Class 1,385.23 1,506.48 1,573.98 1,645.59
Only
Preferred Shares 0.00 0.00 0.00 0.00
Total Ordinary Shares 0.00 0.00 0.00 0.00
Total Common Shares Outstanding 1,385.23 1,506.48 1,573.98 1,645.59
Treasury Shares 672.37 501.99 407.28 317.09
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International Business Machines (IBM)

Income statement
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Annual Financials for International Business Machines

All amounts in millions except per share 12/2007 12/2006 12/2005 12/2004
amounts. (TTM) (TTM) (TTM) (TTM)

Amount Amount Amount Amount

Operating Revenue 98,786.00 91,424.00 91,134.00 96,293.00
Total Revenue 98,786.00 91,424.00 91,134.00 96,293.00
Adjustment to Revenue 0.00 0.00 0.00 0.00
Cost of Sales 51,856.00 48,146.00 49,414.00 55,809.00
Cost of Sales with Depreciation 57,057.00 53,129.00 54,602.00 60,724.00
Gross Margin 41,729.00 38,295.00 38,295.00 35,569.00
Gross Operating Profit 46,930.00 43,278.00 41,720.00 40,484.00
R&D 6,153.00 6,107.00 5,842.00 5,874.00
SG&A 22,060.00 20,259.00 21,314.00 20,079.00
Advertising 0.00 0.00 0.00 0.00
Operating Profit 0.00 0.00 0.00 0.00
Operating Profit before Depreciation 18,717.00 16,912.00 14,564.00 14,531.00
(EBITDA)
Depreciation 5,201.00 4,983.00 5,188.00 4,915.00
  Depreciation Unrecognized 0.00 0.00 0.00 0.00
  Amortization 0.00 0.00 0.00 0.00
Amortization of Intangibles 0.00 0.00 0.00 0.00
Operating Income After Depreciation 13,516.00 11,929.00 9,376.00 9,616.00
Interest Income 565.00 536.00 307.00 180.00
Earnings from Equity Interest 0.00 0.00 0.00 0.00
Other Income, Net 1,019.00 1,123.00 2,993.00 1,012.00
Income Acquired in Process R&D 0.00 0.00 0.00 0.00
Interest Restructuring and M&A 0.00 7.00 -230.00 0.00
Other Special Charges 0.00 0.00 0.00 0.00
Total Income Avail for Interest Expense 15,100.00 13,595.00 12,446.00 10,808.00
(EBIT)s
Interest Expense 611.00 278.00 220.00 139.00
Income Before Tax (EBT)s 14,489.00 13,317.00 12,226.00 10,669.00
Income Taxes 4,071.00 3,901.00 4,232.00 3,172.00
Minority Interest 0.00 0.00 0.00 0.00
Preferred Securities of Subsidiary Trust 0.00 0.00 0.00 0.00
Net Income from Continuing Operations 10,418.00 9,416.00 7,994.00 7,497.00
Net Income from Discontinued Ops. 0.00 76.00 -24.00 -18.00
Net Income from Total Operations 10,418.00 9,492.00 7,970.00 7,479.00
Extraordinary Income/Losses 0.00 0.00 0.00 0.00
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Income from Cum. Effect of Acct Chg 0.00 0.00 -36.00 0.00
Income from Tax Loss Carry forward 0.00 0.00 0.00 0.00
Other Gains (Losses) 0.00 0.00 0.00 0.00
Total Net Income 10,418.00 9,492.00 7,934.00 7,479.00
Normalized Income 10,418.00 9,409.00 8,224.00 7,497.00
Net Income Available for Common 10,418.00 9,416.00 7,994.00 7,497.00
Preferred Dividends 0.00 0.00 0.00 0.00
Excise Taxes 0.00 0.00 0.00 0.00

Per Share Data

Basic EPS from Continuing Ops. 7.32 6.15 4.99 4.48
Basic EPS from Discontinued Ops 0.00 0.05 -0.02 -0.01
Basic EPS from Total Operations 7.32 6.20 4.97 4.47
Basic EPS from Extraordinary Inc 0.00 0.00 0.00 0.00
Basic EPS from Cum Effect of 0.00 0.00 -0.02 0.00
Accounting Chg
Basic EPS from Other Gains (Losses) 0.00 0.00 0.00 0.00
Basic EPS Total 7.32 6.20 4.95 4.47
Basic Normalized Net Income/Share 7.32 6.15 5.13 4.48
Diluted EPS from Continuing Ops. 7.18 6.06 4.91 4.39
Diluted EPS from Discontinued Ops. 0.00 0.05 -0.01 -0.01
Diluted EPS from Total Operations 7.18 6.11 4.90 4.38
Diluted EPS from Extraordinary Inc. 0.00 0.00 0.00 0.00

Diluted EPS from Cum Effect of 0.00 0.00 -0.02 0.00

Accounting Chg
Diluted EPS from Other Gains (Losses) 0.00 0.00 0.00 0.00
Diluted EPS Total 7.18 6.11 4.88 4.38
Diluted Normalized Net Income/Shares 7.18 6.06 5.05 4.39
Dividends Paid per Share 1.50 1.10 0.78 0.70

Additional Data
Basic Weighted Shares Outstanding 1,450.57 1,530.81 1,600.59 1,674.96
Diluted Weighted Shares Outstanding 1,423.04 1,553.54 1,627.63 1,707.23
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Tahseen ullah
Qurtuba University
I D-1629
BBA 4thA
