IBM 2003 Annual Report Download - page 8

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6
($ in millions except per share amounts)
FOR THE YEAR 2003 2002
Revenue $89,131 $81,186
Income from continuing operations 7,613 5,334
Loss from discontinued operations (30) (1,755))
Net income 7,583 3,579
Earnings/(loss) per share of common stock:
Assuming dilution:
Continuing operations 4.34 3.07
Discontinued operations (0.02) (1.01))
Total 4.32 2.06
Basic:
Continuing operations 4.42 3.13
Discontinued operations (0.02) (1.03)
Total 4.40 2.10
Net cash provided by operating activities from continuing operations 14,569 13,788
Investment in plant, rental machines and other property 4,393 4,753
Cash dividends paid on common stock 1,085 1,005
Per share of common stock 0.63 0.59
AT YEAR END
Cash, cash equivalents and marketable securities 7,647 5,975
Total assets 104,457 96,484
Working capital 7,098 7,502*
Total debt 23,632 26,017
Stockholders’ equity 27,864 22,782
Common shares outstanding (in millions) 1,695 1,722
Market capitalization 157,047 133,483
Stock price per common share 92.68 77.50
Number of employees in IBM/wholly owned subsidiaries 319,273 315,889
*Reclassified to conform with 2003 presentation.
Financial Highlights
INTERNATIONAL BUSINESS MACHINES CORPORATION AND SUBSIDIARY COMPANIES