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International Business Machines Corp. (NYSE:IBM)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

International Business Machines Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Taxes 1.33 1.31 1.55 1.14 1.13 1.08 1.48 1.18 1.26 1.25 1.68 1.21 1.21 1.23 1.73 1.32 1.37 1.35 1.73 1.50 1.54 1.78
Short-term debt 3.80 5.54 4.23 5.43 6.02 4.75 3.71 2.68 2.69 3.99 4.75 4.96 5.13 3.66 3.74 4.72 4.69 5.77 5.14 5.25 4.39 3.50
Accounts payable 2.89 2.59 3.13 2.64 2.67 2.46 2.94 2.44 2.71 2.62 3.06 2.58 2.82 2.79 3.18 3.02 2.91 2.59 3.00 2.95 2.87 2.79
Compensation and benefits 2.21 2.52 2.71 2.40 2.26 2.51 2.63 2.42 2.33 2.33 2.59 2.52 2.41 2.07 2.74 2.68 2.61 2.20 2.43 2.62 2.62 2.19
Deferred income 10.62 10.90 10.60 9.49 10.11 10.34 10.14 9.59 10.19 10.24 9.95 9.22 9.61 9.89 9.46 8.85 9.82 10.15 9.48 8.50 9.04 9.55
Current operating lease liabilities 0.51 0.51 0.53 0.55 0.55 0.55 0.56 0.59 0.57 0.57 0.61 0.62 0.64 0.65 0.69 0.67 0.69 0.72 0.74 0.89 0.91 0.90
Other accrued expenses and liabilities 2.25 2.29 2.71 2.38 2.65 2.42 2.70 2.59 2.39 2.63 2.60 2.56 2.76 2.89 3.23 2.94 2.89 2.77 2.95 3.13 3.57 3.88
Current liabilities 23.61% 25.67% 25.45% 24.02% 25.39% 24.10% 24.16% 21.48% 22.15% 23.62% 25.23% 23.67% 24.59% 23.19% 24.76% 24.21% 24.98% 25.55% 25.47% 24.85% 24.94% 24.59%
Long-term debt, excluding current maturities 36.96 36.94 36.11 37.71 37.16 38.70 36.36 39.44 39.54 39.39 37.06 37.76 38.34 40.28 36.30 35.71 34.77 34.92 34.03 32.54 33.20 34.45
Retirement and nonpension postretirement benefit obligations 5.66 5.61 5.94 6.65 6.65 6.55 6.88 7.72 7.62 7.60 7.99 7.03 7.10 7.12 7.54 9.34 10.29 10.46 10.94 11.62 11.76 11.67
Deferred income 2.81 2.69 2.81 2.64 2.63 2.64 2.64 2.73 2.61 2.54 2.61 2.39 2.47 2.58 2.75 2.40 2.41 2.57 2.71 2.75 2.80 2.79
Noncurrent operating lease liabilities 1.65 1.69 1.68 1.81 1.84 1.89 1.94 2.05 1.90 1.88 1.90 1.91 1.50 1.57 1.72 1.67 1.71 1.77 1.87 2.21 2.23 2.27
Other liabilities 6.60 6.25 6.46 8.04 7.76 7.62 8.05 8.33 8.17 7.96 8.49 9.34 9.15 9.05 9.62 10.66 10.58 10.39 10.60 10.53 10.04 9.75
Noncurrent liabilities 53.68% 53.17% 52.99% 56.85% 56.04% 57.40% 55.87% 60.26% 59.84% 59.37% 58.05% 58.43% 58.56% 60.59% 57.93% 59.78% 59.75% 60.11% 60.14% 59.65% 60.03% 60.94%
Total liabilities 77.29% 78.84% 78.44% 80.87% 81.43% 81.50% 80.03% 81.74% 81.99% 82.99% 83.28% 82.09% 83.16% 83.78% 82.69% 83.99% 84.72% 85.66% 85.61% 84.50% 84.97% 85.53%
Common stock, par value $0.20 per share, and additional paid-in capital 42.47 40.92 41.69 42.93 41.99 42.50 44.75 45.42 45.20 43.85 44.10 45.86 44.60 43.91 45.85 46.18 45.33 43.22 43.42 39.66 38.76 38.21
Retained earnings 102.52 99.42 102.48 103.60 101.87 103.46 110.20 111.50 113.31 110.35 111.86 115.61 112.94 111.69 117.75 118.09 120.23 115.10 116.82 112.16 110.40 109.14
Treasury stock, at cost -112.38 -109.37 -112.33 -116.54 -114.55 -116.82 -123.90 -126.50 -126.87 -123.76 -125.42 -131.18 -128.26 -126.87 -133.20 -134.70 -132.96 -127.12 -128.33 -117.47 -115.39 -113.95
Accumulated other comprehensive loss -9.96 -9.87 -10.35 -10.92 -10.80 -10.69 -11.13 -12.22 -13.69 -13.48 -13.87 -12.45 -12.48 -12.56 -13.16 -13.62 -17.39 -16.91 -17.60 -18.93 -18.83 -19.01
Total IBM stockholders’ equity 22.65% 21.11% 21.50% 19.07% 18.51% 18.45% 19.91% 18.20% 17.95% 16.96% 16.66% 17.85% 16.79% 16.17% 17.25% 15.95% 15.22% 14.29% 14.32% 15.41% 14.95% 14.39%
Noncontrolling interests 0.06 0.05 0.06 0.06 0.05 0.05 0.06 0.06 0.06 0.05 0.06 0.06 0.05 0.05 0.06 0.06 0.05 0.05 0.07 0.09 0.09 0.08
Total equity 22.71% 21.16% 21.56% 19.13% 18.57% 18.50% 19.97% 18.26% 18.01% 17.01% 16.72% 17.91% 16.84% 16.22% 17.31% 16.01% 15.28% 14.34% 14.39% 15.50% 15.03% 14.47%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).

The capital structure demonstrates a gradual shift toward a higher proportion of equity financing over the analyzed period. Total liabilities decreased from 85.53% of total liabilities and equity in March 2021 to 77.29% by June 2026. Conversely, total equity increased from 14.47% to 22.71% over the same timeframe, indicating a reduction in overall financial leverage.

Liability Composition and Trends
Noncurrent liabilities exhibited a steady decline from 60.94% in March 2021 to 53.68% in June 2026. A primary driver of this reduction was the significant decrease in retirement and nonpension postretirement benefit obligations, which fell from 11.67% to 5.66%. Long-term debt, excluding current maturities, showed more volatility, peaking at 40.28% in March 2023 before stabilizing at 36.96% by June 2026.
Current liabilities remained relatively stable, fluctuating between a high of 25.55% in March 2022 and a low of 21.48% in September 2024. Deferred income within current liabilities remained a consistent component, generally maintaining a range between 8.50% and 10.90%.
Equity Dynamics
The equity structure is characterized by high retained earnings and significant treasury stock activity. Retained earnings remained substantial, though they experienced a general decline from a peak of 120.23% in June 2022 to 102.52% by June 2026. This was mirrored by the treasury stock account, which reflects aggressive share repurchases, with values ranging from -109.37% to -134.70%.
A positive trend is observed in the accumulated other comprehensive loss, which improved from -19.01% in March 2021 to -9.96% by June 2026, contributing to the overall increase in total stockholders' equity.
Short-term Obligations and Operating Liabilities
Short-term debt showed periodic fluctuations, reaching a peak of 6.02% in June 2025 before descending to 3.80% in June 2026. Accounts payable and compensation and benefits obligations remained stable as a percentage of the total balance sheet, typically staying below 3% each.
Operating lease liabilities, both current and noncurrent, showed a gradual downward trend, with noncurrent operating lease liabilities decreasing from 2.27% in March 2021 to 1.65% in June 2026.

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