Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Cash Flow Statement 

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

International Business Machines Corp., consolidated cash flow statement

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net income 5,743  5,590  9,431  8,728  5,753 
Depreciation 3,888  4,227  4,209  3,127  3,021 
Amortization of intangibles 2,529  2,468  1,850  1,353  1,520 
Stock-based compensation 982  937  679  510  534 
Deferred taxes (2,001) (3,203) (1,527) 853  (931)
Net (gain) loss on asset sales and other (307) (71) (1,097) 123  14 
Receivables, including financing receivables 1,372  5,297  502  1,006  1,297 
Retirement related 1,038  936  301  1,368  1,014 
Inventory 138  (209) 67  (127) 18 
Other assets/other liabilities (671) 2,087  858  (1,820) 4,437 
Accounts payable 85  138  (503) 126  47 
Changes in operating assets and liabilities, net of acquisitions/divestitures 1,962  8,249  1,225  553  6,813 
Adjustments to reconcile net income to cash provided by operating activities 7,053  12,607  5,339  6,519  10,971 
Net cash provided by operating activities 12,796  18,197  14,770  15,247  16,724 
Payments for property, plant and equipment (2,062) (2,618) (2,286) (3,395) (3,229)
Proceeds from disposition of property, plant and equipment 387  188  537  248  460 
Investment in software (706) (612) (621) (569) (544)
Purchases of marketable securities and other investments (3,562) (6,246) (3,693) (7,041) (4,964)
Proceeds from disposition of marketable securities and other investments 3,147  5,618  3,961  6,487  3,910 
Non-operating finance receivables, net —  475  6,720  (503) (2,028)
Acquisition of businesses, net of cash acquired (3,293) (336) (32,630) (140) (496)
Divestiture of businesses, net of cash transferred 114  503  1,076  —  (205)
Net cash used in investing activities (5,975) (3,028) (26,936) (4,913) (7,096)
Proceeds from new debt 522  10,504  31,825  6,891  9,643 
Payments to settle debt (8,597) (13,365) (12,944) (8,533) (6,816)
Short-term borrowings (repayments) less than 90 days, net (40) (853) (2,597) 1,341  620 
Common stock repurchases —  —  (1,361) (4,443) (4,340)
Common stock repurchases for tax withholdings (319) (302) (272) (171) (193)
Financing, other 70  92  98  112  174 
Distribution from Kyndryl 879  —  —  —  — 
Cash dividends paid (5,869) (5,797) (5,707) (5,666) (5,506)
Net cash provided by (used in) financing activities (13,354) (9,721) 9,042  (10,469) (6,418)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (185) (87) (166) (495) 936 
Net change in cash, cash equivalents and restricted cash (6,718) 5,361  (3,290) (630) 4,146 
Cash, cash equivalents and restricted cash at January 1 13,675  8,314  11,604  12,234  7,826 
Cash, cash equivalents and restricted cash at December 31 6,957  13,675  8,314  11,604  11,972 

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).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. International Business Machines Corp. net cash provided by operating activities increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Net cash used in investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. International Business Machines Corp. net cash used in investing activities increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. International Business Machines Corp. net cash provided by (used in) financing activities decreased from 2019 to 2020 and from 2020 to 2021.