International Business Machines Corp. (IBM)


Balance Sheet: Assets
Quarterly Data

Low level of difficulty

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 (quarterly data)

US$ in millions

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Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Cash and cash equivalents 10,087  45,399  17,134  11,379  11,563  10,741  11,949  11,972  10,915  11,696  10,096  7,826  9,039  10,017  14,354  7,686  9,480  8,393  8,796  8,476  9,561  9,715  9,409 
Restricted cash 138  135  137  225  168  219  313  262  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Marketable securities 733  874  872  618  2,932  966  893  608  600  599  599  701  929  600  515  508  88  367  —  295 
Notes and accounts receivable, trade, net of allowances 6,753  7,414  6,987  7,432  7,071  7,445  7,778  8,928  8,150  8,401  8,377  9,182  8,291  8,782  8,527  8,333  7,987  8,632  8,806  9,090  9,122  9,902  9,682 
Short-term financing receivables, net of allowances 12,330  15,543  20,287  22,388  19,249  19,806  20,245  21,721  18,050  17,563  16,362  19,006  16,032  16,635  16,646  19,020  16,195  16,888  16,303  19,835  17,411  18,620  18,329 
Other accounts receivable, net of allowances 1,876  1,781  671  743  767  1,089  1,206  981  926  994  1,130  1,057  873  1,130  1,557  1,201  931  2,390  2,740  2,906  1,469  1,555  1,650 
Finished goods 351  324  369  266  448  488  544  333  430  424  423  358  433  414  393  352  388  364  371  430  508  449  472 
Work in process and raw materials 1,361  1,421  1,402  1,416  1,445  1,254  1,209  1,250  1,281  1,180  1,186  1,195  1,296  1,271  1,297  1,199  1,225  1,548  1,599  1,673  1,848  1,889  1,984 
Inventories, at lower of average cost or net realizable value 1,712  1,745  1,771  1,682  1,893  1,742  1,753  1,583  1,711  1,604  1,609  1,553  1,729  1,685  1,690  1,551  1,613  1,912  1,970  2,103  2,356  2,338  2,456 
Deferred costs 1,978  2,217  2,368  2,300  2,227  2,344  2,413  1,820  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Deferred taxes —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  1,660  2,133  1,805  2,044  2,219  1,783  1,708 
Prepaid expenses and other current assets 2,514  2,409  2,478  2,379  2,387  2,443  2,572  1,860  4,390  4,156  4,716  4,563  4,540  4,675  4,334  4,205  4,158  4,471  5,888  4,968  5,021  4,264  4,430 
Current assets 38,121  77,517  52,705  49,146  48,257  46,795  49,122  49,735  44,742  45,013  42,889  43,888  41,433  43,524  47,623  42,504  42,112  45,186  46,316  49,422  47,163  48,182  47,959 
Property, plant and equipment 31,670  31,843  32,692  32,460  32,484  32,233  32,775  32,331  31,937  31,291  30,681  30,133  30,842  30,136  29,627  29,342  29,229  38,639  38,303  39,034  39,950  40,936  40,478 
Accumulated depreciation (21,607) (21,641) (22,017) (21,668) (21,535) (21,209) (21,497) (21,215) (20,880) (20,388) (19,816) (19,303) (19,738) (19,044) (18,717) (18,615) (18,568) (27,937) (27,794) (28,263) (28,882) (27,188) (26,795)
Property, plant and equipment, net 10,063  10,202  10,675  10,792  10,949  11,024  11,278  11,116  11,057  10,903  10,865  10,830  11,104  11,092  10,910  10,727  10,661  10,702  10,509  10,771  11,068  13,748  13,683 
Operating right-of-use assets, net 4,901  4,998  4,634  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term financing receivables, net of allowances 7,739  8,441  8,361  9,148  8,179  8,783  8,856  9,550  8,459  8,296  8,502  9,021  8,936  9,267  9,266  10,013  9,517  10,339  9,820  11,109  10,993  12,140  11,918 
Prepaid pension assets 5,481  5,319  4,966  4,666  5,655  5,375  5,129  4,643  4,521  4,015  3,491  3,034  3,487  2,957  2,332  1,734  4,033  3,440  2,690  2,160  7,443  6,894  6,110 
Deferred costs 2,535  2,662  2,663  2,676  2,581  2,613  2,593  2,136  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Deferred taxes 4,994  5,274  5,284  5,216  4,436  4,689  5,111  4,862  7,289  6,812  6,457  5,224  4,289  4,387  4,809  4,822  3,690  4,211  4,374  4,808  2,697  2,828  3,034 
Goodwill 57,951  35,284  36,281  36,265  36,526  36,482  36,732  36,788  36,782  36,517  36,307  36,199  36,401  36,422  34,322  32,021  30,275  30,535  29,871  30,556  31,045  31,568  31,214 
Intangible assets, net 15,613  2,728  2,956  3,087  3,134  3,344  3,521  3,742  3,981  4,179  4,436  4,688  4,881  5,148  4,373  3,487  2,775  2,938  2,991  3,104  3,373  3,585  3,698 
Investments and sundry assets 2,222  2,227  2,401  2,386  2,273  2,517  2,943  2,784  4,805  4,760  4,548  4,586  5,075  5,259  5,221  5,187  5,586  5,378  5,466  5,602  5,129  5,369  5,030 
Noncurrent assets 111,499  77,135  78,221  74,236  73,733  74,827  76,163  75,621  76,894  75,482  74,606  73,582  74,173  74,532  71,233  67,991  66,537  67,543  65,721  68,110  71,748  76,132  74,687 
Total assets 149,620  154,652  130,926  123,382  121,990  121,622  125,285  125,356  121,636  120,495  117,495  117,470  115,606  118,056  118,856  110,495  108,649  112,729  112,037  117,532  118,911  124,314  122,646 

Based on: 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-04-24), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-07-25), 10-Q (filing date: 2017-04-25), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-23), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-K (filing date: 2015-02-24), 10-Q (filing date: 2014-10-28), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29).


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 increased from Q1 2019 to Q2 2019 but then declined significantly from Q2 2019 to Q3 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 declined from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 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 declined from Q1 2019 to Q2 2019 but then increased from Q2 2019 to Q3 2019 exceeding Q1 2019 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 Q1 2019 to Q2 2019 but then slightly declined from Q2 2019 to Q3 2019.

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 increased from Q1 2019 to Q2 2019 but then declined significantly from Q2 2019 to Q3 2019.
Marketable securities Amount of investment in marketable security, classified as current. International Business Machines Corp.’s marketable securities increased from Q1 2019 to Q2 2019 but then declined significantly from Q2 2019 to Q3 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 increased from Q1 2019 to Q2 2019 but then declined significantly from Q2 2019 to Q3 2019.
Inventories, at lower of average cost or net realizable value 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, at lower of average cost or net realizable value declined from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.