IBM 1997 Annual Report Download - page 39

Download and view the complete annual report

Please find page 39 of the 1997 IBM annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

financial
report
Report of Management 38
Report of Independent Accountants 39
Management Discussion 40
Consolidated Financial Statements 50
Earnings
Financial Position
Cash Flows
Stockholders’ Equity
Notes to Consolidated Financial Statements 54
ASignificant Accounting Policies 54
BAccounting Changes 55
CCommon Stock Split 56
DInventories 56
EPlant, Rental Machines and Other Property 57
FInvestments and Sundry Assets 57
GDebt 58
HInterest on Debt 59
ILines of Credit 59
JFinancial Instruments 59
KSale and Securitization of Receivables 61
LOther Liabilities and Environmental 61
MContingencies 61
NTaxes 62
OSelling and Advertising 64
PResearch, Development and Engineering 64
QGlobal Financing 65
RNet Earnings Per Share of Common Stock 67
SRental Expense and Lease Commitments 68
TStock-Based Compensation Plans 68
UStock Repurchases 70
VEmployee Benefits Trust 71
WRetirement Plans 71
XNonpension Postretirement Benefits 73
YSegment Information 75
ZGeographic Areas 76
Five-Year Comparison of Selected Financial Data 78
Selected Quarterly Data 78
Stockholder Information 79
Board of Directors and IBM Management 80
37