Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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International Business Machines Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2024-12-31), 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).
- Taxes
- The proportion of taxes relative to total liabilities and equity showed a steady decline from 2.12% in 2020 to 1.48% in 2024, indicating a decreasing tax liability burden over the observed period.
- Short-term debt
- Short-term debt exhibited fluctuations, rising from 4.61% in 2020 to a peak of 5.14% in 2021, then declining to 3.71% by 2024. This trend suggests some variability in short-term financing needs, with an overall decline toward the end of the period.
- Accounts payable
- Accounts payable remained relatively stable with slight variations, maintaining a narrow range between 2.94% and 3.18% over the five years, reflecting consistent management of payable obligations.
- Compensation and benefits
- This item increased gradually from 2.21% in 2020 to 2.74% in 2022, followed by a slight decrease and stabilization near 2.63% in 2024, indicating a mild upward trend in personnel-related liabilities.
- Deferred income
- Deferred income as a percentage of total liabilities and equity steadily increased from 8.23% in 2020 to 10.14% in 2024, suggesting growing deferred revenue or related liabilities.
- Current operating lease liabilities
- A continual decrease was observed, from 0.87% in 2020 down to 0.56% in 2024, indicating a reduction in lease obligations classified as current liabilities.
- Other accrued expenses and liabilities
- These liabilities declined from 4.39% in 2020 to 2.6% in 2023, with a slight increase to 2.7% in 2024, indicating overall diminishing accrued obligations.
- Current liabilities
- Current liabilities remained relatively stable around 25%, ranging narrowly from 24.16% to 25.56%, showing consistent current obligation levels relative to total financing.
- Long-term debt, excluding current maturities
- Long-term debt increased from 34.85% in 2020, peaking at 37.06% in 2023, before a slight decline to 36.36% in 2024, reflecting a growing reliance on long-term financing.
- Retirement and nonpension postretirement benefit obligations
- These obligations showed a marked decrease from 11.7% in 2020 to 6.88% in 2024, indicating a significant reduction in postretirement benefits liabilities.
- Deferred income (non-current)
- This category remained relatively stable around 2.6%-2.7%, showing no significant shifts.
- Noncurrent operating lease liabilities
- Noncurrent operating lease liabilities decreased from 2.29% in 2020 to 1.72% in 2022, with a slight recovery to 1.94% by 2024, indicating some variability but an overall downward trend.
- Income tax reserves
- Income tax reserves grew from 3.38% in 2020 to a peak of 5.11% in 2023, slightly tapering to 5% in 2024, suggesting increased tax-related liability provisions.
- Deferred taxes
- Deferred taxes consistently decreased substantially from 3.51% in 2020 to 0.59% in 2024, reflecting a decline in deferred tax liabilities on the balance sheet.
- Excess Savings Plan
- The proportion of excess savings plan obligations fluctuated mildly between 1.03% and 1.28%, without a clear directional trend.
- Disability benefits
- Disability benefits as a percentage of total liabilities and equity decreased slightly from 0.29% in 2020 to 0.2% in 2024, showing a minor reduction.
- Derivative liabilities
- Derivative liabilities increased notably from 0.03% in 2020 to a maximum of 0.38% in 2022, with some fluctuation thereafter, suggesting increased derivative exposure during the middle years.
- Workforce reductions
- Liabilities related to workforce reductions declined steadily from 0.61% in 2020 to 0.32% in 2024, indicating diminishing restructuring-related obligations.
- Environmental accruals
- Environmental accruals remained relatively stable and low between 0.15% and 0.19%, showing minor changes throughout the period.
- Other liabilities
- Other liabilities decreased from 9.55% in 2020 to 8.05% in 2024, indicating a reduction in miscellaneous non-current obligations.
- Noncurrent liabilities
- Noncurrent liabilities declined from 61.15% in 2020 to 55.87% in 2024, reflecting a gradual reduction in long-term obligations overall.
- Total liabilities
- Total liabilities also decreased steadily from 86.71% in 2020 to 80.03% in 2024, indicating an increasing share of equity in the total financing mix.
- Common stock, par value and additional paid-in capital
- This equity component rose significantly from 36.26% in 2020 to a peak of 45.85% in 2022, settling slightly lower around 44.75% by 2024, indicating enhanced capital contributions or stock issuance.
- Retained earnings
- Retained earnings increased steadily from 104.33% in 2020 and peaked at 117.75% in 2022 before moderately declining to 110.2% in 2024, showing accumulation of earnings over time but some recent drawdown.
- Treasury stock
- Treasury stock, recorded as a negative value, increased in magnitude from -108.57% in 2020 to -133.2% in 2022, then decreased slightly to -123.9% in 2024, indicating repurchases with some subsequent reduction in treasury holdings.
- Accumulated other comprehensive loss
- The accumulated other comprehensive loss improved from -18.81% in 2020 to -11.13% in 2024, reflecting a reduction in unrealized losses or other comprehensive items adversely affecting equity.
- Total IBM stockholders’ equity
- Stockholders’ equity increased from 13.21% in 2020 to 19.91% in 2024, signifying stronger equity financing relative to total capital structure.
- Noncontrolling interests
- Noncontrolling interests remained negligible and stable, around 0.06%-0.08%, indicating minimal influence on the capital structure.
- Total equity
- Total equity rose from 13.29% in 2020 to 19.97% in 2024, confirming a strengthened equity base over time.
- Total liabilities and equity
- The total combined percentage consistently equals 100%, as expected for the sum of liabilities and equity measures.