Stock Analysis on Net
Stock Analysis on Net

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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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 1.31 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 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 2.59 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 2.52 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 10.90 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 0.53 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 2.29 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 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 36.94 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 5.61 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 2.69 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 1.69 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 6.25 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 53.17% 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 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 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 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 -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 -9.87 -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 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 0.05 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 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%

Based on: 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 exhibits a gradual shift from a heavily leveraged position toward an increased equity base. Total liabilities, which represented 85.53% of total liabilities and equity in March 2021, declined to 78.84% by March 2026. Conversely, total equity expanded from 14.47% to 21.16% over the same period, indicating a strategic move toward a more conservative financing mix.

Current Liabilities Trends
Current liabilities remained relatively stable, fluctuating between 21.48% and 25.67% of the total balance sheet. Short-term debt showed volatility, peaking at 6.02% in June 2025 before settling at 5.54% in March 2026. Deferred income within current liabilities remained a consistent and significant component, generally maintaining a range between 8.50% and 10.90%, suggesting a steady stream of prepaid obligations.
Noncurrent Liabilities and Debt Obligations
A notable contraction is observed in noncurrent liabilities, which fell from 60.94% in March 2021 to 53.17% by March 2026. This decline was primarily driven by a significant reduction in retirement and nonpension postretirement benefit obligations, which decreased from 11.67% to 5.61%. Long-term debt, excluding current maturities, experienced an initial increase, peaking at 40.28% in March 2023, before moderating to 36.94% by the end of the analyzed period.
Stockholders' Equity Composition
The equity section is characterized by high internal volatility due to substantial treasury stock activity and retained earnings. Retained earnings, while remaining high, trended downward from 109.14% in March 2021 to 99.42% in March 2026. This is mirrored by treasury stock at cost, which remained highly negative, fluctuating between -109.37% and -134.70%, reflecting aggressive share repurchase programs. Additionally, accumulated other comprehensive loss improved steadily, moving from -19.01% to -9.87%, which contributed positively to the overall growth in total equity.
Overall Financial Leverage
The long-term trend indicates a reduction in the reliance on external debt and a strengthening of the equity cushion. The combined effect of decreasing retirement obligations and a reduction in total liabilities relative to assets suggests an improvement in the long-term solvency profile.

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