IBM 2001 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2001 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 112

  • 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
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112

53
Financial Report
INTERNATIONAL BUSINESS MACHINES CORPORATION
and Subsidiary Companies
Report of Management 54
Report of Independent Accountants 54
Management Discussion 55
Consolidated Financial Statements
Earnings 70
Financial Position 71
Stockholders’ Equity 72
Cash Flows 74
Notes to Consolidated Financial Statements
aSignificant Accounting Policies 75
bAccounting Changes 79
cAcquisitions/Divestitures 81
dFinancial Instruments (excluding derivatives) 83
eInventories 83
fFinancing Receivables 83
gPlant, Rental Machines and Other Property 83
hInvestments and Sundry Assets 84
iSale and Securitization of Receivables 84
jBorrowings 84
kDerivatives and Hedging Transactions 85
lOther Liabilities 87
mStockholders’ Equity Activity 88
nContingencies and Commitments 89
oTaxes 90
pExpense and Other Income 91
q1999 Actions 91
rEarnings Per Share of Common Stock 93
sRental Expense and Lease Commitments 94
tStock-Based Compensation Plans 94
uRetirement-Related Benefits 96
vSegment Information 100
Five-Year Comparison of Selected Financial Data 106
Selected Quarterly Data 106
Stockholder Information 107
Board of Directors and Senior Management 108