Stock Analysis on Net
Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

$24.99

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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International Business Machines Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Taxes
Short-term debt
Accounts payable
Compensation and benefits
Deferred income
Current operating lease liabilities
Other accrued expenses and liabilities
Current liabilities
Long-term debt, excluding current maturities
Retirement and nonpension postretirement benefit obligations
Deferred income
Noncurrent operating lease liabilities
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock, par value $0.20 per share, and additional paid-in capital
Retained earnings
Treasury stock, at cost
Accumulated other comprehensive loss
Total IBM stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).

An analysis of the balance sheet from March 31, 2021, to March 31, 2026, reveals a period of fluctuating liability levels and a steady growth in total stockholders' equity. While total liabilities experienced a notable dip between 2021 and 2022, there has been a subsequent increase, bringing total liabilities to 123,174 million by the end of the period.

Debt and Liability Trends
Long-term debt, excluding current maturities, exhibited a general upward trajectory after a period of stabilization. From a low of 44,917 million in December 2021, this figure climbed to 57,706 million by March 31, 2026. Short-term debt demonstrated significant volatility, peaking at 8,945 million in June 2025 before settling at 8,655 million in March 2026. This suggests a dynamic approach to liquidity management and debt refinancing.
Retirement and Postretirement Obligations
A consistent and substantial downward trend is observed in retirement and nonpension postretirement benefit obligations. These obligations decreased from 17,346 million in March 2021 to 8,763 million in March 2026. This reduction represents a significant decrease in long-term fixed liabilities, potentially reflecting settlement payments or favorable adjustments in actuarial assumptions.
Current Liabilities and Operating Obligations
Current liabilities showed a general increase toward the end of the analyzed period, rising from 36,542 million in March 2021 to 40,101 million in March 2026. A primary driver of this increase was the growth in current deferred income, which reached 17,034 million by March 2026, compared to 14,197 million at the start of the period. Accounts payable and compensation benefits remained relatively stable with moderate cyclical fluctuations.
Stockholders' Equity and Capital Structure
Total equity grew from 21,513 million in March 2021 to 33,056 million in March 2026. This growth was supported by an increase in common stock and additional paid-in capital, which rose from 56,788 million to 63,936 million. Additionally, accumulated other comprehensive loss improved significantly, narrowing from -28,257 million to -15,415 million. These gains occurred despite a consistently high treasury stock balance, which remained near -170,874 million, indicating a sustained program of share repurchases.
Overall Financial Position
The total liabilities and equity figure increased from 148,629 million to 156,230 million over the observed timeframe. The expansion of the balance sheet is characterized by a strategic reduction in pension-related liabilities and a strengthening of the equity base, offset by an increase in both short-term and long-term debt obligations.