Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

International Business Machines Corp., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Services 30,378 30,206 29,225 45,004 47,493
Sales 30,745 29,673 27,346 27,484 28,252
Financing 737 651 779 1,132 1,402
Revenue 61,860 60,530 57,350 73,620 77,147
Services (21,051) (21,062) (19,147) (30,404) (32,491)
Sales (6,127) (6,374) (6,184) (6,934) (7,263)
Financing (382) (407) (533) (707) (905)
Cost (27,560) (27,843) (25,864) (38,045) (40,659)
Gross profit 34,300 32,687 31,486 35,575 36,488
Selling, general and administrative (19,003) (18,609) (18,745) (23,082) (20,604)
Research, development and engineering (6,775) (6,567) (6,488) (6,333) (5,989)
Intellectual property and custom development income 860 663 612 626 648
Operating income 9,382 8,174 6,865 6,786 10,543
Foreign currency transaction gains (losses) (116) 643 204 (114) 279
Gains (losses) on derivative instruments 17 (225) (205) 101 (15)
Interest income 670 162 52 105 349
Net gains (losses) from securities and investment assets 39 (278) 133 22 32
Retirement-related income (costs) 39 (6,548) (1,282) (1,123) (615)
Other 282 464 244 170 962
Other income and (expense) 931 (5,782) (854) (839) 992
Interest expense (1,607) (1,216) (1,155) (1,288) (1,344)
Income from continuing operations before income taxes 8,706 1,176 4,856 4,659 10,191
(Provision for) benefit from income taxes (1,176) 626 (125) 864 (731)
Income from continuing operations 7,530 1,802 4,731 5,523 9,460
Income (loss) from discontinued operations, net of tax (12) (143) 1,031 89 (4)
Net income 7,518 1,659 5,762 5,612 9,456
Net income attributable to noncontrolling interest (16) (20) (19) (22) (25)
Net income attributable to IBM 7,502 1,639 5,743 5,590 9,431

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. International Business Machines Corp. revenue increased from 2021 to 2022 and from 2022 to 2023.
Operating income The net result for the period of deducting operating expenses from operating revenues. International Business Machines Corp. operating income increased from 2021 to 2022 and from 2022 to 2023.
Income from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. International Business Machines Corp. income from continuing operations before income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net income attributable to IBM The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. International Business Machines Corp. net income attributable to IBM decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.