IBM 2002 Annual Report Download - page 43

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Financial Report
41
international business machines corporation and Subsidiary Companies
Report of Management 42
Report of Independent Accountants 42
Management Discussion 43
Consolidated Financial Statements
Earnings 64
Financial Position 65
Stockholders’ Equity 66
Cash Flows 69
Notes to Consolidated Financial Statements
aSignificant Accounting Policies 70
bAccounting Changes 75
cAcquisitions/Divestitures 78
dFinancial Instruments (excluding derivatives) 80
eInventories 81
fFinancing Receivables 81
gPlant, Rental Machines and Other Property 81
hInvestments and Sundry Assets 81
iGoodwill 82
jSale and Securitization of Receivables 82
kBorrowings 82
lDerivatives and Hedging Transactions 84
mOther Liabilities 86
nStockholders’ Equity Activity 87
oContingencies and Commitments 88
pTaxes 89
qAdvertising and Promotional Expense 90
rResearch, Development and Engineering 90
s2002 Actions 90
tEarnings Per Share of Common Stock 93
uRental Expense and Lease Commitments 93
vStock-Based Compensation Plans 94
wRetirement-Related Benefits 95
xSegment Information 100
ySubsequent Events 104
Five-Year Comparison of Selected Financial Data 105
Selected Quarterly Data 106
Stockholder Information 107
Board of Directors and Senior Executive Officers 108