Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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International Business Machines Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Taxes
- The proportion of taxes relative to total liabilities and equity has shown moderate fluctuations over the observed quarters. Initially rising from 1.53% to a peak of 2.12% by the end of 2020, it then generally trended downward with some volatility, reaching a low point of 1.08% by March 2025. This indicates a relative decrease in tax liabilities compared to the overall capital structure over time.
- Short-term Debt
- Short-term debt as a percentage of total liabilities and equity displayed a declining trend from 7.59% in March 2020 to approximately 3.5% by March 2021, followed by intermittent increases and decreases. The lowest values were observed mid-2024 (around 2.68%), but it rebounded to 4.75% in the first quarter of 2025. This pattern suggests a management focus on reducing short-term debt with occasional reaccumulation towards the end of the period.
- Accounts Payable
- Accounts payable maintained relative stability, fluctuating modestly between 2.44% and 3.18% throughout the period. After small declines and rebounds, it ended slightly lower in March 2025 than it began, indicating consistent management of supplier-related obligations.
- Compensation and Benefits
- This category exhibited a slight upward trend overall, starting near 1.97% and moving above 2.5% in several quarters during 2023 and 2024. The rise reflects potentially increasing labor costs or benefits accruals relative to total capital, indicating growing expenditures in this area.
- Deferred Income
- Deferred income as a percentage of total liabilities and equity generally increased over the period, starting from 8.72% and rising to peaks over 10% during 2023 and 2024. This trend suggests growth in customer advances or unearned revenue, possibly reflecting expanding prepayments or longer-term contracts.
- Current Operating Lease Liabilities
- There was a gradual decline in current operating lease liabilities relative to total liabilities and equity, decreasing from 0.87% early in 2020 to around 0.55% by March 2025. This trend could be indicative of a reduction in lease commitments or shifts in leasing strategies.
- Other Accrued Expenses and Liabilities
- This component remained relatively steady with minor fluctuations around the 2.5% to 3.1% range. The lack of substantial change points to consistent accrual practices for miscellaneous short-term liabilities.
- Current Liabilities
- Current liabilities as a percentage of total liabilities and equity showed minor variances but generally exhibited a slight downward tendency from 26.51% in early 2020 to just above 24% in the latest period. This suggests a modest shift from short-term obligations relative to the company's total capitalization.
- Long-term Debt, Excluding Current Maturities
- The ratio of long-term debt was relatively stable around mid-30% levels initially but saw a notable increase beginning in late 2021, peaking at 40.28% in early 2022, followed by some declines and fluctuations through 2024. This elevation indicates increased reliance on long-term financing during parts of the period.
- Retirement and Nonpension Postretirement Benefit Obligations
- A clear downward trend is observed, dropping from 10.74% in March 2020 to approximately 6.55% by March 2025, with some minor recoveries in between. This decreasing obligation may reflect funding actions or adjustments in actuarial assumptions impacting these liabilities.
- Deferred Income (Noncurrent)
- The noncurrent component of deferred income remained largely stable around the 2.4% to 2.8% range without significant directional change, implying consistent recognition of long-term unearned revenue or similar deferred items.
- Noncurrent Operating Lease Liabilities
- This liability exhibited a gradual decline from 2.48% to below 2% by mid-2023, with slight increases afterward that brought it near 1.9% towards the end of the period. This suggests a partial reduction and stabilization of longer-term lease obligations.
- Other Liabilities
- Other liabilities decreased moderately over the timeframe from about 10.35% to 7.62%, with some fluctuations. The trend indicates a gradual reduction in miscellaneous longer-term liabilities relative to total capitalization.
- Noncurrent Liabilities
- Noncurrent liabilities remained mostly stable, hovering around 60% in the early years and slightly declining to approximately 57.4% by March 2025. This stability conveys that the company maintained a consistent proportion of long-term obligations relative to its total capital structure.
- Total Liabilities
- Total liabilities as a share of liabilities and equity showed a slow but steady decrease from 86.88% to about 81.5% over the period. This gradual decline may reflect a strategic move towards reducing overall leverage or increasing equity components.
- Common Stock and Additional Paid-in Capital
- The proportion attributable to common stock and additional paid-in capital rose markedly from 36.57% to a peak of 46.18% in late 2022, then declined moderately to 42.5% by March 2025. This pattern indicates periods of equity issuance or valuation changes with some pullback towards the end of the observed window.
- Retained Earnings
- Retained earnings displayed an overall increasing tendency, rising from 106.01% to highs above 120% during mid-2022, followed by a moderate decline to 103.46% in early 2025. The trend reflects accumulated profits over time, though recent slight contractions may indicate dividend payments or adjustments.
- Treasury Stock, at Cost
- Treasury stock levels remained significantly negative, reflecting repurchases and capital returning activity. The absolute figure deepened to a low of -134.7% in late 2022, then gradually reduced in magnitude to -116.82% by early 2025, consistent with share buybacks followed by some reduction in treasury stock holdings.
- Accumulated Other Comprehensive Loss
- This loss figure improved over the period, moving from -19.09% to -10.69%. The upward movement indicates a reduction in unrealized losses or adverse adjustments included in comprehensive income.
- Total Stockholders’ Equity
- Total stockholders’ equity increased from 13.04% to a peak of 17.85% in late 2023, then largely stabilized around 18% - 19% levels into early 2025. This trend aligns with gradually strengthening equity relative to total capital, suggesting enhanced financial stability or value retention.
- Noncontrolling Interests
- Noncontrolling interests remained marginal and relatively unchanged throughout, consistently below 0.1%, indicating minimal minority ownership impact on the total capital structure.
- Total Equity
- Total equity rose steadily from 13.12% to nearly 20% by early 2025, illustrating a gradual strengthening of the equity base against liabilities. This incremental increase supports the observation of improving capitalization and potentially lowered risk exposure.
- Overall Capital Structure
- The data depict a gradual deleveraging trend, with total liabilities decreasing as a percentage of the whole and equity components expanding. Long-term debt experienced periods of increase but tended to stabilize later, while short-term debt generally declined. The reduction in retirement obligations and accumulated comprehensive loss further contribute to an improved balance sheet profile. Growth in deferred income and retained earnings supports operational sustainability and shareholder value enhancement.