| As Reported Annual Income Statement |
| Report Date | 12/31/18 | | 12/31/17 | | 12/31/16 | | 12/31/15 | | 12/31/14 | | 12/31/13 | | 12/31/12 |
| Scale | Thousands | | Thousands | | Thousands | | Thousands | | Thousands | | Thousands | | Thousands |
| Services revenue | 51,350,000 | | 50,709,000 | | 51,268,000 | | 49,911,000 | | 55,673,000 | | 57,655,000 | | 59,453,000 |
| Sales revenue | 26,641,000 | | 26,715,000 | | 26,942,000 | | 29,967,000 | | 35,063,000 | | 40,049,000 | | 43,014,000 |
| Financing revenue | 1,599,000 | | 1,715,000 | | 1,710,000 | | 1,864,000 | | 2,057,000 | | 2,047,000 | | 2,040,000 |
| Total revenue | 79,591,000 | | 79,139,000 | | 79,919,000 | | 81,741,000 | | 92,793,000 | | 99,751,000 | | 104,507,000 |
| Cost of services | 34,059,000 | | 34,447,000 | | 34,021,000 | | 33,126,000 | | 36,034,000 | | 37,564,000 | | 39,166,000 |
| Cost of sales | 7,464,000 | | 7,256,000 | | 6,559,000 | | 6,920,000 | | 9,312,000 | | 12,572,000 | | 13,956,000 |
| Cost of financing | 1,132,000 | | 1,210,000 | | 1,044,000 | | 1,011,000 | | 1,040,000 | | 1,110,000 | | 1,087,000 |
| Total cost | 42,655,000 | | 42,913,000 | | 41,625,000 | | 41,057,000 | | 46,386,000 | | 51,246,000 | | 54,209,000 |
| Gross profit | 36,936,000 | | 36,227,000 | | 38,294,000 | | 40,684,000 | | 46,407,000 | | 48,505,000 | | 50,298,000 |
| Selling, general & administrative expense - other | 16,438,000 | | 16,568,000 | | 16,971,000 | | 16,643,000 | | 18,532,000 | | 19,187,000 | | 19,589,000 |
| Advertising & promotional expense | 1,466,000 | | 1,445,000 | | 1,327,000 | | 1,290,000 | | 1,307,000 | | 1,294,000 | | 1,339,000 |
| Workforce rebalancing charges | 598,000 | | 199,000 | | 1,038,000 | | 587,000 | | 1,472,000 | | 1,064,000 | | 803,000 |
| Retirement-related costs | - | | 959,000 | | 742,000 | | 1,052,000 | | 811,000 | | 995,000 | | 945,000 |
| Amortization of acquired intangible assets | 435,000 | | 496,000 | | 503,000 | | 304,000 | | 374,000 | | 370,000 | | 328,000 |
| Stock-based compensation | 361,000 | | 384,000 | | 401,000 | | 322,000 | | 350,000 | | 435,000 | | 498,000 |
| Bad debt expense | 67,000 | | 55,000 | | 87,000 | | 231,000 | | 334,000 | | 156,000 | | 50,000 |
| Selling, general & administrative expense | 19,366,000 | | 20,107,000 | | 21,069,000 | | 20,430,000 | | 23,180,000 | | 23,502,000 | | 23,553,000 |
| Research, development & engineering expense | 5,379,000 | | 5,787,000 | | 5,751,000 | | 5,247,000 | | 5,437,000 | | 6,226,000 | | 6,302,000 |
| Intellectual property & custom development income | 1,026,000 | | 1,466,000 | | 1,631,000 | | 682,000 | | 742,000 | | 822,000 | | 1,074,000 |
| Foreign currency transaction gains (losses) | 427,000 | | -405,000 | | 116,000 | | -414,000 | | 599,000 | | 260,000 | | 240,000 |
| Gains (losses) on derivative instruments | -434,000 | | 341,000 | | -260,000 | | 853,000 | | -654,000 | | -166,000 | | -72,000 |
| Interest income | 264,000 | | 144,000 | | 108,000 | | 72,000 | | 90,000 | | 74,000 | | 109,000 |
| Net gains (losses) from securities & investment assets | 101,000 | | 20,000 | | -23,000 | | -47,000 | | 26,000 | | 29,000 | | 55,000 |
| Retirement-related income (costs) | -1,572,000 | | - | | - | | - | | - | | - | | - |
| Other income | 63,000 | | 116,000 | | -85,000 | | 260,000 | | 1,878,000 | | 131,000 | | 511,000 |
| Other income & expense | 1,152 | | -216,000 | | 145,000 | | 724,000 | | 1,938,000 | | 327,000 | | 843,000 |
| Interest expense | 723,000 | | 615,000 | | 630,000 | | 468,000 | | 484,000 | | 402,000 | | 459,000 |
| Total expense & other income | -25,594,000 | | 24,827,000 | | 25,964,000 | | 24,740,000 | | 26,421,000 | | 28,981,000 | | 28,396,000 |
| Income from continuing operations before income taxes - U.S. operations | 627,000 | | 560,000 | | 3,650,000 | | 5,915,000 | | 7,509,000 | | 6,857,000 | | 9,668,000 |
| Income from continuing operations before income taxes - non-U.S. operations | 10,715,000 | | 10,840,000 | | 8,680,000 | | 10,030,000 | | 12,477,000 | | 12,667,000 | | 12,234,000 |
| Income from continuing operations before income taxes | 11,342,000 | | 11,400,000 | | 12,330,000 | | 15,945,000 | | 19,986,000 | | 19,524,000 | | 21,902,000 |
| Provision for (benefit from) U.S. federal income taxes - current | -342,000 | | 2,388,000 | | 186,000 | | -321,000 | | 1,134,000 | | 1,406,000 | | 1,361,000 |
| Provision for (benefit from) U.S. federal income taxes - deferred | 1,377,000 | | 77,000 | | -746,000 | | 553,000 | | 105,000 | | -652,000 | | 403,000 |
| Total provision for (benefit from) U.S. federal income taxes | 1,035,000 | | 2,465,000 | | -560,000 | | 232,000 | | 1,239,000 | | 754,000 | | 1,764,000 |
| Provision for (benefit from) U.S. state & local income taxes - current | 127,000 | | 55,000 | | 244,000 | | 128,000 | | 541,000 | | 178,000 | | 134,000 |
| Provision for (benefit from) U.S. state & local income taxes - deferred | -292,000 | | 28,000 | | -44,000 | | 116,000 | | -105,000 | | -321,000 | | 289,000 |
| Total provision for (benefit from) U.S. state & local income taxes | -165,000 | | 83,000 | | 200,000 | | 244,000 | | 436,000 | | -143,000 | | 423,000 |
| Provision for (benefit from) nopn-U.S. income taxes - current | 2,135,000 | | 3,891,000 | | 988,000 | | 2,101,000 | | 2,825,000 | | 3,067,000 | | 3,006,000 |
| Provision for (benefit from) nopn-U.S. income taxes - deferred | -386,000 | | -797,000 | | -179,000 | | 4,000 | | -266,000 | | -637,000 | | 105,000 |
| Total provision for (benefit from) nopn-U.S. income taxes | 1,749,000 | | 3,094,000 | | 809,000 | | 2,105,000 | | 2,559,000 | | 2,430,000 | | 3,111,000 |
| Provision for (benefit from) income taxes | 2,619,000 | | 5,642,000 | | 449,000 | | 2,581,000 | | 4,234,000 | | 3,041,000 | | 5,298,000 |
| Income (loss) from continuing operations | 8,723,000 | | 5,758,000 | | 11,881,000 | | 13,364,000 | | 15,751,000 | | - | | - |
| Income (loss) from discontinued operations, net of tax | 5,000 | | -5,000 | | -9,000 | | -174,000 | | -3,729,000 | | - | | - |
| Net income (loss) | 8,728,000 | | 5,753,000 | | 11,872,000 | | 13,190,000 | | 12,022,000 | | 16,483,000 | | 16,604,000 |
| Weighted average shares outstanding - basic | 912,048.07 | | 932,828.30 | | 955,422.53 | | 978,744.52 | | 1,004,272.58 | | 1,103,042.16 | | 1,142,508.52 |
| Weighted average shares outstanding - diluted | 916,315.71 | | 937,385.63 | | 958,714.10 | | 982,700.27 | | 1,010,000.48 | | 1,094,486.60 | | 1,155,449.32 |
| Year end shares outstanding | 892,479.41 | | 922,179.23 | | 945,867.40 | | 965,728.73 | | 990,523.76 | | 1,054,390.94 | | 1,117,367.68 |
| Earnings (loss) per share from continuing operations - basic | 9.56 | | 6.17 | | 12.44 | | 13.66 | | 15.68 | | - | | - |
| Earnings (loss) per share from discontinued operations - basic | 0.01 | | 0 | | -0.01 | | -0.18 | | -3.71 | | - | | - |
| Net earnings (loss) per share - basic | 9.57 | | 6.17 | | 12.43 | | 13.48 | | 11.97 | | 15.06 | | 14.53 |
| Earnings (loss) per share from continuing operations - diluted | 9.51 | | 6.14 | | 12.39 | | 13.6 | | 15.59 | | - | | - |
| Earnings (loss) per share from discontinued operations - diluted | 0.01 | | 0 | | -0.01 | | -0.18 | | -3.69 | | - | | - |
| Net earnings (loss) per share - diluted | 9.52 | | 6.14 | | 12.38 | | 13.42 | | 11.9 | | 14.94 | | 14.37 |
| Dividends per share of common stock | 6.21 | | - | | - | | - | | - | | - | | 3.3 |
| Total number of employees | 350,600 | | 366,600 | | 380,300 | | 377,757 | | 379,592 | | 431,212 | | 434,246 |
| Number of common stockholders | 395,480 | | 408,697 | | 425,272 | | 444,582 | | 458,306 | | 473,872 | | 488,800 |
| Foreign currency translation adjustments | -730,000 | | 152,000 | | -20,000 | | -1,379,000 | | - | | - | | - |
nelda2495
IBMIncomeStatement2012-2018Del7.xlsx
