Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Income Statement 

International Business Machines Corp., consolidated income statement

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Services 29,225  45,004  47,493  51,350  50,709 
Sales 27,346  27,484  28,252  26,641  26,715 
Financing 779  1,132  1,402  1,600  1,715 
Revenue 57,350  73,620  77,147  79,591  79,139 
Services (19,147) (30,404) (32,491) (34,059) (34,447)
Sales (6,184) (6,934) (7,263) (7,464) (7,256)
Financing (533) (707) (905) (1,132) (1,209)
Cost (25,864) (38,045) (40,659) (42,655) (42,912)
Gross profit 31,486  35,575  36,488  36,936  36,227 
Selling, general and administrative (18,745) (23,082) (20,604) (19,366) (20,107)
Research, development and engineering (6,488) (6,333) (5,989) (5,379) (5,787)
Intellectual property and custom development income 612  626  648  1,026  1,466 
Operating income 6,865  6,786  10,543  13,217  11,799 
Other income and (expense) (854) (839) 992  (1,135) 233 
Interest expense (1,155) (1,288) (1,344) (723) (615)
Income from continuing operations before income taxes 4,856  4,659  10,191  11,359  11,417 
(Provision for) benefit from income taxes (125) 864  (731) (2,619) (5,642)
Income from continuing operations 4,731  5,523  9,460  8,740  5,775 
Income (loss) from discontinued operations, net of tax 1,031  89  (4) (5)
Net income 5,762  5,612  9,456  8,745  5,770 
Net income attributable to noncontrolling interest (19) (22) (25) (17) (17)
Net income attributable to IBM 5,743  5,590  9,431  8,728  5,753 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. International Business Machines Corp. revenue decreased from 2019 to 2020 and from 2020 to 2021.
Operating income The net result for the period of deducting operating expenses from operating revenues. International Business Machines Corp. operating income decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Income from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. International Business Machines Corp. income from continuing operations before income taxes decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Net income attributable to IBM The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. International Business Machines Corp. net income attributable to IBM decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.