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.
International Business Machines Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
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
2,347)
1,663)
1,681)
1,573)
2,033)
1,584)
1,691)
1,710)
2,270)
1,559)
1,606)
1,650)
2,196)
1,667)
1,742)
1,798)
2,289)
2,159)
2,260)
2,640)
Short-term debt
6,424)
7,942)
8,945)
6,913)
5,089)
3,599)
3,602)
5,471)
6,426)
6,414)
6,785)
4,887)
4,760)
5,937)
5,981)
7,690)
6,787)
7,575)
6,442)
5,198)
Accounts payable
4,756)
3,867)
3,974)
3,585)
4,032)
3,274)
3,631)
3,588)
4,132)
3,342)
3,732)
3,728)
4,051)
3,806)
3,707)
3,453)
3,955)
4,248)
4,214)
4,140)
Compensation and benefits
4,114)
3,508)
3,353)
3,653)
3,605)
3,250)
3,125)
3,190)
3,501)
3,257)
3,185)
2,772)
3,481)
3,369)
3,327)
2,937)
3,204)
3,780)
3,846)
3,256)
Deferred income
16,101)
13,878)
15,022)
15,057)
13,907)
12,882)
13,643)
14,051)
13,451)
11,917)
12,712)
13,220)
12,032)
11,139)
12,522)
13,526)
12,518)
12,264)
13,272)
14,197)
Current operating lease liabilities
800)
807)
820)
798)
768)
790)
762)
784)
820)
807)
842)
869)
874)
844)
884)
954)
974)
1,285)
1,334)
1,337)
Other accrued expenses and liabilities
4,116)
3,477)
3,931)
3,527)
3,708)
3,474)
3,194)
3,603)
3,522)
3,310)
3,651)
3,867)
4,111)
3,704)
3,681)
3,698)
3,892)
4,521)
5,248)
5,774)
Current liabilities
38,658)
35,142)
37,726)
35,106)
33,142)
28,853)
29,648)
32,397)
34,122)
30,606)
32,513)
30,993)
31,505)
30,466)
31,844)
34,056)
33,619)
35,832)
36,616)
36,542)
Long-term debt, excluding current maturities
54,836)
55,174)
55,219)
56,371)
49,884)
52,980)
52,929)
54,033)
50,121)
48,828)
50,691)
53,826)
46,189)
44,942)
44,328)
46,545)
44,917)
46,926)
48,735)
51,206)
Retirement and nonpension postretirement benefit obligations
9,018)
9,735)
9,882)
9,536)
9,432)
10,366)
10,200)
10,421)
10,808)
9,090)
9,385)
9,509)
9,596)
11,760)
13,118)
13,937)
14,435)
16,764)
17,265)
17,346)
Deferred income
4,271)
3,863)
3,913)
3,844)
3,622)
3,666)
3,489)
3,488)
3,533)
3,085)
3,264)
3,443)
3,499)
3,018)
3,069)
3,423)
3,577)
3,965)
4,113)
4,153)
Noncurrent operating lease liabilities
2,547)
2,646)
2,735)
2,753)
2,655)
2,757)
2,546)
2,583)
2,568)
2,476)
1,986)
2,094)
2,190)
2,103)
2,182)
2,358)
2,462)
3,192)
3,278)
3,379)
Other liabilities
9,809)
11,762)
11,523)
11,104)
11,048)
11,187)
10,933)
10,914)
11,476)
12,080)
12,103)
12,099)
12,243)
13,414)
13,485)
13,843)
13,995)
15,179)
14,740)
14,490)
Noncurrent liabilities
80,481)
83,180)
83,272)
83,608)
76,641)
80,956)
80,097)
81,439)
78,506)
75,559)
77,429)
80,971)
73,717)
75,237)
76,182)
80,106)
79,386)
86,026)
88,131)
90,574)
Total liabilities
119,139)
118,322)
120,998)
118,714)
109,783)
109,809)
109,745)
113,836)
112,628)
106,165)
109,942)
111,964)
105,222)
105,703)
108,026)
114,162)
113,005)
121,858)
124,747)
127,116)
Common stock, par value $0.20 per share, and additional paid-in capital
An examination of the provided financial information reveals several noteworthy trends in liabilities and stockholders’ equity over the observed period. Total liabilities generally decreased from March 2021 to December 2022, then increased significantly through December 2025. Stockholders’ equity exhibited more volatility, with a general decline from March 2021 to December 2021, followed by periods of growth and fluctuation.
Current Liabilities
Current liabilities demonstrated relative stability between March 2021 and June 2021, fluctuating around US$36.6 billion. A decrease was observed through December 2022, reaching a low of US$31.5 billion, before increasing again to US$38.7 billion by December 2025. Accounts payable and short-term debt were the primary drivers of these fluctuations. Specifically, short-term debt increased substantially in the first half of 2021, then decreased, with another increase observed in the first half of 2025. Accounts payable remained relatively stable, with a noticeable increase in the final quarter of 2025.
Long-Term Liabilities
Long-term debt, excluding current maturities, decreased from US$51.2 billion in March 2021 to US$44.9 billion in December 2021. It then experienced a period of increase, peaking at US$56.4 billion in March 2025. Retirement and nonpension postretirement benefit obligations showed a consistent decline throughout the period, falling from US$17.3 billion to US$9.0 billion. Other long-term liabilities also decreased over the period, though less dramatically. Overall, noncurrent liabilities followed a similar pattern to long-term debt, decreasing initially and then increasing towards the end of the observed timeframe.
Stockholders’ Equity
Total stockholders’ equity decreased from US$21.4 billion in March 2021 to US$19.0 billion in December 2021. It then began a period of growth, reaching US$23.3 billion in March 2023, before fluctuating. A significant increase was observed between December 2024 and December 2025, reaching US$32.7 billion. This growth was primarily driven by increases in retained earnings and common stock and additional paid-in capital. Treasury stock consistently represented a substantial deduction from equity, with its value increasing over time. Accumulated other comprehensive loss remained negative throughout the period, contributing to a reduction in overall equity.
Specific Liability Accounts
Taxes paid exhibited fluctuations, generally decreasing from US$2.6 billion in March 2021 to US$2.2 billion in December 2021, then increasing again to US$2.3 billion in December 2025. Deferred income remained a significant liability, fluctuating between US$11.1 billion and US$16.1 billion. Compensation and benefits showed a slight increase overall, with seasonal variations. Current operating lease liabilities and noncurrent operating lease liabilities both decreased over the period, though remained relatively stable in the later quarters.
In summary, the company experienced a dynamic shift in its financial structure. While liabilities initially decreased, they increased substantially in the later part of the period, driven primarily by changes in short-term debt and long-term debt. Stockholders’ equity demonstrated a more complex pattern, with an overall upward trend, particularly in the final year of the observation period, largely attributable to retained earnings and capital contributions.
