Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
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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: 2025-09-30), 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), 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).
- Short-term debt
- Short-term debt as a percentage of total liabilities and equity exhibited a general decline from early 2020 through mid-2024, dropping from 7.59% to a low near 2.68%. However, from mid-2024 to late 2025, this figure showed a notable rebound, climbing back above 5%, suggesting a shift toward increased reliance on short-term borrowing during the final periods.
- Accounts payable
- Accounts payable percentages showed moderate fluctuations, ranging roughly between 2.44% and 3.18%. There was no clear long-term trend, but values tended to hover near the midpoint of this range, indicating relative stability in payables management over the observed intervals.
- Compensation and benefits
- Compensation and benefits steadily represented around 2.3% to 2.6% of total liabilities and equity, with some periods experiencing slight increases or decreases. The trend suggests consistent cost management related to workforce expenses over time.
- Deferred income
- Deferred income fluctuated mildly but remained a significant component, fluctuating mostly between 8% and 10.3%. It peaked in early 2024 at 10.34%, suggesting a buildup of revenues received but not yet earned, before slightly tapering off by late 2025.
- Operating lease liabilities
- Both current and noncurrent operating lease liabilities displayed gradual decreases over time. Current lease liabilities dipped from approximately 0.87% to about 0.55%, while noncurrent lease liabilities fell from roughly 2.48% to near 1.81%, implying a reduction in lease obligations or changes in lease accounting treatment.
- Other accrued expenses and liabilities
- The ratio for other accrued expenses and liabilities remained fairly stable around 2.5% to 3.2%, with minor variations likely related to timing differences in expense recognition.
- Current liabilities
- Current liabilities as a total percentage showed slight volatility without a distinct long-term trend, ranging mostly between 21.5% and 26.5%. The proportion's stability indicates consistent management of short-term obligations relative to total capitalization.
- Long-term debt, excluding current maturities
- Long-term debt mostly stayed between approximately 32.5% and 40%, increasing notably in 2022 and early 2023 and then fluctuating around high 30% levels. This reflects a sustained and sizable use of long-term debt financing throughout the period, with some incremental increases during 2022-2024.
- Retirement and postretirement benefits obligations
- These obligations steadily declined over the course of the periods, dropping from nearly 11% down to around 6.5% of total liabilities and equity by late 2025. This decrease may reflect effective liability management or changes in actuarial assumptions and funding status.
- Other liabilities and noncurrent liabilities
- Other liabilities slightly declined during the period from around 10.35% to just over 7.6%, while total noncurrent liabilities remained mostly stable between 55% and 61%. Together, these figures illustrate a relatively steady structure of longer-term liabilities.
- Total liabilities
- Total liabilities gradually decreased from about 87% of total liabilities and equity in early 2020 to near 81% by late 2025, indicating a moderate decline in overall leverage relative to the company's capitalization.
- Common stock, par value and additional paid-in capital
- The equity component related to common stock and additional paid-in capital increased steadily across most quarters, moving from around 36.5% up to approximately 46% by late 2022, and then fluctuating near 42-45%. This rise suggests ongoing equity infusions or retained earnings allocated to equity accounts.
- Retained earnings
- Retained earnings experienced a slight decline from about 106% early in 2020 to just above 100% by late 2025, with intermediate peaks above 120%. This trend may reflect dividend payments, share repurchases, or other distributions impacting accumulated profits.
- Treasury stock
- Treasury stock consistently represented a significant negative percentage, moving from approximately -110% to nearly -116%, indicating steady repurchases of stock that offset equity and reduced total shareholders' equity.
- Accumulated other comprehensive loss
- This category showed gradual improvement (a reduction in loss magnitude), moving from -19.1% to about -10.9%, suggesting reduced unrealized losses from items such as foreign currency translation, pension plans, or investments over time.
- Total stockholders’ equity
- Total equity increased modestly from about 13% in early 2020 to almost 19% by late 2024 and into 2025, signifying a strengthening equity base relative to total capitalization despite significant treasury stock holdings.
- Overall capital structure
- The data indicates a gradual reduction in total liabilities as a percentage of total liabilities and equity, accompanied by a subtle but steady increase in total equity. This shift suggests a modest deleveraging trend combined with ongoing equity accumulation. The company managed its short-term liabilities with some variability, while long-term debt remained a significant and relatively stable portion of its capital structure. Reductions in pension-related obligations and comprehensive losses hint at improvements in long-term liabilities and risk exposures. The stock repurchase activity evident from treasury stock proportions demonstrates a strategy to return value to shareholders concurrently with strengthening the equity base.