| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Net income | 4,993 | 3,249 | 1,055 | 3,109 |
| Pension settlement charge | 0 | - | - | 2,725 |
| Depreciation | 1,698 | 1,114 | 536 | 1,644 |
| Amortization of capitalized software and acquired intangible assets | 2,027 | 1,328 | 641 | 1,910 |
| Stock-based compensation | 1,285 | 842 | 401 | 966 |
| Net (gain)/loss on divestitures, asset sales and other | 46 | 40 | 22 | 632 |
| Changes in operating assets and liabilities, net of acquisitions/divestitures | 804 | 421 | -1,759 | 607 |
| Net cash provided by operating activities | 9,153 | 6,071 | 4,370 | 9,115 |
| Payments for property, plant and equipment | 709 | 454 | 244 | 745 |
| Proceeds from disposition of property, plant and equipment/other | 118 | 111 | 74 | 536 |
| Investment in software | 476 | 314 | 151 | 496 |
| Purchases of marketable securities and other investments | 8,910 | 7,740 | 6,486 | 6,501 |
| Proceeds from disposition of marketable securities and other investments | 6,162 | 4,962 | 927 | 5,691 |
| Acquisition of businesses, net of cash acquired | 7,903 | 7,845 | 7,098 | 2,748 |
| Divestiture of businesses, net of cash transferred | -1 | -1 | -1 | 705 |
| Net cash provided by/(used in) investing activities | -11,719 | -11,281 | -12,979 | -3,558 |
| Proceeds from new debt | 8,391 | 8,385 | 8,378 | 5,705 |
| Payments to settle debt | 3,679 | 2,565 | 1,257 | 6,491 |
| Short-term borrowings/(repayments) less than 90 days net | -29 | -29 | -29 | 9 |
| Common stock repurchases for tax withholdings | 851 | 437 | 284 | 539 |
| Proceeds from issuance of shares | 535 | 401 | 216 | - |
| Financing other | -109 | -54 | -32 | 513 |
| Cash dividends paid | 4,681 | 3,112 | 1,549 | 4,601 |
| Net cash provided by/(used in) financing activities | -423 | 2,589 | 5,443 | -5,403 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 429 | 487 | 167 | -29 |
| Net change in cash, cash equivalents and restricted cash | -2,561 | -2,134 | -2,999 | 125 |
| Cash and cash equivalents at beginning of period | 14,160 | 14,160 | 14,160 | 13,089 |
| Cash and cash equivalents at end of period | 11,600 | 12,026 | 11,161 | 13,214 |
INTERNATIONAL BUSINESS MACHINES CORP (IBM)
INTERNATIONAL BUSINESS MACHINES CORP (IBM)