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. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Total Asset Turnover 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: 2026-06-30), 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).
The financial trajectory of the balance sheet exhibits a period of initial contraction in total liabilities and equity from early 2021 through late 2022, followed by a steady expansion phase leading into mid-2026. Total liabilities reached a trough of approximately 105 billion USD in December 2022 before trending upward to 117.5 billion USD by June 2026. Concurrently, total equity demonstrated a consistent growth trend, increasing from 21.5 billion USD in March 2021 to 34.5 billion USD by June 2026, indicating a strengthening of the solvency position over the analyzed period.
- Debt and Liability Structure
- Long-term debt, excluding current maturities, shows a general upward trend, rising from 51.2 billion USD in March 2021 to 56.2 billion USD in June 2026. Short-term debt exhibits significant volatility, with cyclical peaks such as 8.9 billion USD in June 2025 and troughs as low as 3.6 billion USD in June 2024. Current liabilities remained relatively stable between 28 billion USD and 40 billion USD, with periodic increases typically coinciding with year-end reporting cycles.
- Equity Composition and Shareholders' Value
- Total stockholders' equity grew significantly, supported by a notable reduction in accumulated other comprehensive losses, which improved from negative 28.3 billion USD in March 2021 to negative 15.2 billion USD by June 2026. This improvement partially offset the impact of continued treasury stock acquisitions, which grew from negative 169.4 billion USD to negative 170.9 billion USD. Retained earnings remained relatively resilient, ending the period at 155.9 billion USD, up from 162.2 billion USD at the start, despite the impacts of share repurchases.
- Operating and Pension Obligations
- Deferred income represents a substantial portion of both current and noncurrent liabilities, showing a gradual increase to 16.2 billion USD (current) and 4.3 billion USD (noncurrent) by June 2026. Retirement and nonpension postretirement benefit obligations showed a marked downward trend, decreasing from 17.3 billion USD in March 2021 to 8.6 billion USD in June 2026, suggesting a successful reduction in long-term pension liabilities.
The overall financial structure reveals a strategic shift toward a higher equity base and a managed reduction of retirement obligations. While long-term debt has increased, the simultaneous growth in total equity and the reduction of comprehensive losses suggest an improved balance between leverage and capital stability.