IBM 1998 Annual Report Download - page 53

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Please find page 53 of the 1998 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.

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Report of Management 52
Report of Independent Accountants 53
Management Discussion 54
Consolidated Financial Statements
Earnings 64
Financial Position 65
Stockholders’ Equity 66
Cash Flows 68
Notes To Consolidated Financial Statements
ASignificant Accounting Policies 69
BAccounting Changes 71
CSubsequent Events 72
DDivestitures 72
ECommon Stock Split 72
FInventories 72
GPlant, Rental Machines and Other Property 72
HInvestments and Sundry Assets 72
ILines of Credit 73
JSale and Securitization of Receivables 73
KDebt 73
LInterest on Debt 74
MFinancial Instruments 74
NOther Liabilities and Environmental 76
OStockholders’ Equity Activity 76
PContingencies 77
QTaxes 77
RSelling and Advertising 78
SResearch, Development and Engineering 78
TEarnings Per Share of Common Stock 79
URental Expense and Lease Commitments 79
VStock-Based Compensation Plans 79
WRetirement Plans 81
XNonpension Postretirement Benefits 83
YSegment Information 84
Five-Year Comparison of Selected Financial Data 90
Selected Quarterly Data 90
Stockholder Information 91
Board of Directors and Senior Management 92
FINANCIAL REPORT International Business Machines Corporation and Subsidiary Companies
51