Stock Analysis on Net
Stock Analysis on Net
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International Business Machines Corp. (NYSE:IBM)

Balance Sheet: Assets

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

International Business Machines Corp., consolidated balance sheet: assets

US$ in millions

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Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Cash and cash equivalents 8,172  11,379  11,972  7,826  7,686 
Restricted cash 141  225  262  —  — 
Marketable securities 696  618  608  701  508 
Notes and accounts receivable, trade, net of allowances 7,870  7,432  8,928  9,182  8,333 
Short-term financing receivables, net of allowances 14,192  22,388  21,721  19,006  19,020 
Other accounts receivable, net of allowances 1,733  743  981  1,057  1,201 
Inventory 1,619  1,682  1,583  1,553  1,551 
Deferred costs 1,896  2,300  1,820  —  — 
Prepaid expenses and other current assets 2,101  2,379  1,860  4,563  4,205 
Current assets 38,420  49,146  49,735  43,888  42,504 
Property, plant and equipment, net 10,010  10,792  11,116  10,830  10,727 
Operating right-of-use assets, net 4,996  —  —  —  — 
Long-term financing receivables, net of allowances 8,712  9,148  9,550  9,021  10,013 
Prepaid pension assets 6,865  4,666  4,643  3,034  1,734 
Deferred costs 2,472  2,676  2,136  —  — 
Deferred taxes 5,182  5,216  4,862  5,224  4,822 
Goodwill 58,222  36,265  36,788  36,199  32,021 
Intangible assets, net 15,235  3,087  3,742  4,688  3,487 
Derivatives, noncurrent 94  347  757  594  702 
Alliance investments, equity method 184  192  90  85  82 
Alliance investments, non-equity method 38  34  32  19  393 
Long-term deposits 242  268  271  267  256 
Other receivables 276  359  455  416  516 
Employee benefit-related 253  263  316  272  273 
Prepaid income taxes 664  626  590  477  496 
Other assets 321  297  273  2,456  2,469 
Investments and sundry assets 2,072  2,386  2,784  4,586  5,187 
Noncurrent assets 113,766  74,236  75,621  73,582  67,991 
Total assets 152,186  123,382  125,356  117,470  110,495 

Based on: 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23).

Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. International Business Machines Corp.’s current assets decreased from 2017 to 2018 and from 2018 to 2019.
Property, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. International Business Machines Corp.’s property, plant and equipment, net decreased from 2017 to 2018 and from 2018 to 2019.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. International Business Machines Corp.’s noncurrent assets decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. International Business Machines Corp.’s total assets decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. International Business Machines Corp.’s cash and cash equivalents decreased from 2017 to 2018 and from 2018 to 2019.
Marketable securities Amount of investment in marketable security, classified as current. International Business Machines Corp.’s marketable securities increased from 2017 to 2018 and from 2018 to 2019.
Notes and accounts receivable, trade, net of allowances The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively. International Business Machines Corp.’s notes and accounts receivable, trade, net of allowances decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.
Inventory Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. International Business Machines Corp.’s inventory increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.