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International Business Machines Corp. (IBM)


Statement of Financial Position, Assets

Difficulty: Beginner

The statement of financial position 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 Statement of Financial Position, Assets

USD $ in millions

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cash and cash equivalents 11,379  11,972  7,826  7,686  8,476 
Restricted cash 225  262  –  –  – 
Marketable securities 618  608  701  508  – 
Notes and accounts receivable, trade, net of allowances 7,432  8,928  9,182  8,333  9,090 
Short-term financing receivables, net of allowances 22,388  21,721  19,006  19,020  19,835 
Other accounts receivable, net of allowances 743  981  1,057  1,201  2,906 
Inventories 1,682  1,583  1,553  1,551  2,103 
Deferred costs 2,300  1,820  –  –  – 
Deferred taxes –  –  –  –  2,044 
Prepaid expenses and other current assets 2,379  1,860  4,563  4,205  4,968 
Current assets 49,146  49,735  43,888  42,504  49,422 
Property, plant and equipment, net 10,792  11,116  10,830  10,727  10,771 
Long-term financing receivables, net of allowances 9,148  9,550  9,021  10,013  11,109 
Prepaid pension assets 4,666  4,643  3,034  1,734  2,160 
Deferred costs 2,676  2,136  –  –  – 
Deferred taxes 5,216  4,862  5,224  4,822  4,808 
Goodwill 36,265  36,788  36,199  32,021  30,556 
Intangible assets, net 3,087  3,742  4,688  3,487  3,104 
Derivatives, noncurrent 347  757  594  702  681 
Alliance investments, equity method 192  90  85  82  98 
Alliance investments, non-equity method 34  32  19  393  496 
Long-term deposits 268  271  267  256  300 
Other receivables 359  455  416  516  509 
Employee benefit-related 263  316  272  273  356 
Prepaid income taxes 626  590  477  496  518 
Other assets 297  273  2,456  2,469  2,644 
Investments and sundry assets 2,386  2,784  4,586  5,187  5,602 
Noncurrent assets 74,236  75,621  73,582  67,991  68,110 
Total assets 123,382  125,356  117,470  110,495  117,532 

Based on: 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), 10-K (filing date: 2015-02-24).


Assets, Selected Items

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 increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
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 increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
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 increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 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 increased from 2016 to 2017 but then slightly declined from 2017 to 2018.

Current Assets, Selected Items

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 increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Marketable securities Amount of investment in marketable security, classified as current. International Business Machines Corp.’s marketable securities declined from 2016 to 2017 but then slightly increased from 2017 to 2018.
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 declined from 2016 to 2017 and from 2017 to 2018.
Inventories 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 inventories increased from 2016 to 2017 and from 2017 to 2018.