| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 1,216 | 5,600 | 1,744 | 2,194 |
| Pension settlement charges | NaN | 0 | 0 | NaN |
| Depreciation | 555 | 586 | 584 | 578 |
| Amortization of capitalized software and acquired intangible assets | 719 | 710 | 699 | 687 |
| Stock-based compensation | 506 | 430 | 443 | 441 |
| Deferred taxes | NaN | -957 | NaN | NaN |
| Net (gain)/loss on divestitures, asset sales and other | 11 | -7 | 6 | 18 |
| Receivables (including financing receivables) | NaN | 4,278 | NaN | NaN |
| Retirement related | NaN | 50 | NaN | NaN |
| Inventory | NaN | -70 | NaN | NaN |
| Other assets/other liabilities | NaN | -495 | NaN | NaN |
| Accounts payable | NaN | 624 | NaN | NaN |
| Changes in operating assets and liabilities, net of acquisitions/divestitures | -11,621 | NaN | 3,798 | 5,638 |
| Net cash provided by operating activities | 5,169 | 4,040 | 3,082 | 1,701 |
| Payments for property, plant and equipment | 232 | 382 | 255 | 210 |
| Proceeds from disposition of property, plant and equipment/other | 8 | 3 | 7 | 37 |
| Investment in software | 159 | 171 | 162 | 163 |
| Purchases of marketable securities and other investments | 1,612 | 1,185 | 1,170 | 1,254 |
| Proceeds from disposition of marketable securities and other investments | 1,971 | 3,542 | 1,200 | 4,035 |
| Acquisition of businesses, net of cash acquired | 10,465 | 391 | 58 | 747 |
| Divestiture of businesses, net of cash transferred | 1 | 0 | 0 | 0 |
| Net cash provided by/(used in) investing activities | -10,489 | 1,417 | -438 | 1,698 |
| Proceeds from new debt | 7,437 | 0 | 6 | 7 |
| Payments to settle debt | 2,928 | 1,810 | 1,114 | 1,308 |
| Short-term borrowings/(repayments) less than 90 days net | 0 | 0 | 0 | 0 |
| Common stock repurchases for tax withholdings | 350 | 167 | 414 | 153 |
| Proceeds from issuance of shares | 178 | 175 | 134 | 185 |
| Financing other | -42 | -30 | -55 | -22 |
| Cash dividends paid | 1,576 | 1,574 | 1,569 | 1,563 |
| Net cash provided by/(used in) financing activities | 2,719 | -3,406 | -3,012 | -2,854 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | -177 | -11 | -58 | 320 |
| Net change in cash, cash equivalents and restricted cash | -2,777 | 2,041 | -427 | 865 |
| Cash, cash equivalents and restricted cash at january 1 | 13,640 | 2,560 | 2,134 | 2,999 |
| Cash, cash equivalents and restricted cash at march 31 | 10,864 | 2,040 | -426 | 865 |
INTERNATIONAL BUSINESS MACHINES CORP (IBM)
INTERNATIONAL BUSINESS MACHINES CORP (IBM)