Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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International Business Machines Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Tax Expenses
- Tax expenses exhibit a variable pattern over the periods, with notable fluctuations. After peaking in late 2020 at 3,301 million USD, the value declined significantly in the following quarters, hitting lows near 1,559 million USD in late 2023. Subsequently, there is a mild upward recovery by early 2025, but overall, taxes tend to oscillate rather than follow a persistent upward or downward trend.
- Short-term Debt
- Short-term debt demonstrates a volatile trend without a consistent directional movement. Initial values are high in early 2020, then fluctuate through 2021 and 2022, hitting a minimum of 3,599 million USD in mid-2024 before rising sharply to around 8,945 million USD by mid-2025. This variation may reflect changing short-term financing needs or refinancing activities.
- Accounts Payable
- Accounts payable values decline notably from early 2020 through late 2023, dropping from about 4,172 million USD to approximately 3,342 million USD. After this decline, a moderate recovery appears from early 2024, with figures rising toward 3,974 million USD by mid-2025, indicating improvements in vendor-related liabilities or payment timing.
- Compensation and Benefits
- Compensation and benefits costs fluctuate moderately over the observed quarters, peaking at 3,846 million USD mid-2021 and then retreating to the 3,190–3,650 million USD range through 2024–2025. The relatively stable but oscillating nature suggests controlled labor cost management amid changing operational circumstances.
- Deferred Income (Current and Noncurrent)
- Combined deferred income trends show initial decreases from early 2020 to 2022, followed by a general restoration trend starting from 2023 onward. Values shift from highs above 17,000 million USD in early 2020 to lows near 14,000 million USD around 2022 but rebound toward 18,000 million USD by early 2025, indicating changes in customer prepayments or contract liabilities management.
- Operating Lease Liabilities (Current and Noncurrent)
- Both current and noncurrent operating lease liabilities show a consistent decreasing trend through 2023, with the current portion dropping from around 1,327 million USD in early 2020 to about 798 million USD by mid-2025. Noncurrent liabilities also decline from nearly 3,799 million USD to about 2,735 million USD. This suggests a reduction in leased assets or successful lease renegotiation strategies over time.
- Other Accrued Expenses and Liabilities
- This category displays fluctuations without a clear directional trend, ranging between approximately 3,310 million USD and 4,778 million USD. After peaking in early 2020 at 4,778 million USD, it drops significantly and then oscillates lower, which may reflect changing accrual policies or variable accrual expenses.
- Overall Liabilities
- Total liabilities declined notably from a peak of about 135,244 million USD in late 2020 to levels near 105,222 million USD by late 2022. Following this drop, liabilities gradually rose to approximately 121,000 million USD by mid-2025. This pattern indicates active liability management, possibly including debt repayment or reclassification efforts, followed by some new liabilities being assumed.
- Long-term Debt
- Long-term debt decreased steadily from 52,685 million USD in early 2020 to 44,917 million USD by late 2021, followed by mixed but generally rising values approaching 56,371 million USD by mid-2025. This reflects both debt reduction phases and periods of increased borrowing or refinancing activity.
- Retirement and Postretirement Benefit Obligations
- A pronounced downward trend is observed in these obligations from early 2020 levels around 16,474 million USD to a low of roughly 9,090 million USD in late 2022. Slight increases thereafter bring the figure close to 9,882 million USD by mid-2025, suggesting efforts to fund or reduce benefit liabilities.
- Equity Components
- Equity components such as common stock and additional paid-in capital show a steady and gradual increase over time, consistent with share issuances or retained earnings reinvestment. Retained earnings fluctuate slightly but generally maintain a stable level near 150,000 million USD. Treasury stock remains consistently negative and stable around -170,000 million USD, indicating ongoing share repurchase activity. Accumulated other comprehensive loss narrows from a peak negative value near -29,283 million USD in early 2020 to lesser negative values, reflecting improved other comprehensive income items.
- Total Stockholders' Equity and Total Equity
- Total equity shows minor volatility, peaking at over 24,500 million USD in early 2024 and growing further to about 27,588 million USD by mid-2025, indicating overall strengthening of the equity base. This growth contrasts with earlier dips below 19,000 million USD in late 2021, suggesting periods of equity consolidation followed by recovery.
- Total Assets and Liabilities Plus Equity
- The total assets and liabilities plus equity figure exhibit a moderate decline from approximately 155,971 million USD at the end of 2020 to lows around 125,850 million USD in late 2022. Following this, a recovery trend leads to about 148,586 million USD by mid-2025. This trajectory mirrors the liability and equity changes, reflecting asset normalization and balance sheet optimization.