IBM 1997 Annual Report Download - page 53

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consolidated statement of financial position
International Business Machines Corporation
and Subsidiary Companies
(Dollars in millions)
At December 31: Notes 1997 1996
Assets
Current assets:
Cash and cash equivalents $7,106 $7,687
Marketable securities J447 450
Notes and accounts receivable – trade, net of allowances 16,850 16,515
Sales-type leases receivable 5,720 5,721
Other accounts receivable 1,256 931
Inventories D5,139 5,870
Prepaid expenses and other current assets 3,900 3,521
Total current assets 40,418 40,695
Plant, rental machines and other property E42,133 41,893
Less: Accumulated depreciation 23,786 24,486
Plant, rental machines and other property – net 18,347 17,407
Software, less accumulated amortization
(1997, $12,610; 1996, $12,199) 819 1,435
Investments and sundry assets F21,915 21,595
Total assets $81,499 $81,132
Liabilities and Stockholders’ Equity
Current liabilities:
Taxes N$2,381 $3,029
Short-term debt G & J 13,230 12,957
Accounts payable 5,215 4,767
Compensation and benefits 3,043 2,950
Deferred income 3,445 3,640
Other accrued expenses and liabilities 6,193 6,657
Total current liabilities 33,507 34,000
Long-term debt G & J 13,696 9,872
Other liabilities L12,993 14,005
Deferred income taxes N1,487 1,627
Total liabilities 61,683 59,504
Contingencies M
Stockholders’ equity:
Preferred stock, par value $.01 per share –
shares authorized: 150,000,000
shares issued: 1997 – 2,597,261; 1996 – 2,610,711 U 252 253
Common stock, par value $.50*per share –
shares authorized: 1,875,000,000*
shares issued: 1997 – 969,015,351; 1996 – 1,018,141,084*C & U 8,601 7,752
Retained earnings 11,010 11,189
Translation adjustments 791 2,401
Treasury stock, at cost (shares: 1997 – 923,955;
1996 – 2,179,066*)(86) (135)
Employee benefits trust, at cost (10,000,000 shares) V(860) –
Net unrealized gain on marketable securities 108 168
Total stockholders’ equity 19,816 21,628
Total liabilities and stockholders’ equity $81,499 $81,132
*Adjusted to reflect a two-for-one stock split on May 9, 1997.
The notes on pages 54 through 77 of the 1997 IBM Annual Report are an integral part of this statement.
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