Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

$19.99

Analysis of Debt

Microsoft Excel LibreOffice Calc

Paying users area

The data is hidden behind: . Unhide it.

  • Get 1-month access to International Business Machines Corp. for $19.99, or

  • get full access to the entire website for at least 3 months from $49.99.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Total Debt (Carrying Amount)

International Business Machines Corp., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Short-term debt
Long-term debt, excluding current maturities
Total debt (carrying amount)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Debt item Description The company
Total debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. International Business Machines Corp. total debt decreased from 2019 to 2020 and from 2020 to 2021.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2021
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, excluding current maturities
Total debt (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2021-12-31).


Weighted-average Interest Rate on Debt

Post-swap weighted-average interest rate on debt:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2021-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

International Business Machines Corp., interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Cost of financing
Interest expense
Interest capitalized
Total interest paid and accrued

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. International Business Machines Corp. interest expense decreased from 2019 to 2020 and from 2020 to 2021.
Interest capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. International Business Machines Corp. interest capitalized increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Total interest paid and accrued Total interest costs incurred during the period and either capitalized or charged against earnings. International Business Machines Corp. total interest paid and accrued decreased from 2019 to 2020 and from 2020 to 2021.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net income attributable to IBM
Add: Net income attributable to noncontrolling interest
Less: Income (loss) from discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Total interest paid and accrued
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Total interest paid and accrued
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). International Business Machines Corp. adjusted interest coverage ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.