IBM 2004 Annual Report Download - page 45

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International Business Machines Corporation and Subsidiary Companies
43
ibm annual report 2004
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)
(Dollars in millions)
AT DECEMBER 31: Notes 2004 2003*
Liabilities and Stockholders’ Equity
Current liabilities:
Taxes p$«««««4,728 $«««««5,475
Short-term debt k & l 8,099 6,646
Accounts payable 9,444 8,460
Compensation and benefits 3,804 3,671
Deferred income 7,175 6,492
Other accrued expenses and liabilities 6,548 6,879
Total current liabilities 39,798 37,623
Long-term debt k &l14,828 16,986
Retirement and nonpension postretirement benefit obligations w15,883 14,251
Other liabilities m8,927 7,733
Total Liabilities 79,436 76,593
Contingencies and commitments o
Stockholders’ equity: n
Common stock, par value $.20 per share and additional paid-in capital 18,355 16,269
Shares authorized: 4,687,500,000
Shares issued (2004—1,962,687,087; 2003—1,937,393,604)
Retained earnings 44,525 37,525
Treasury stock, at cost (shares: 2004—317,094,633; 2003—242,884,969)(31,072) (24,034)
Accumulated gains and (losses) not affecting retained earnings (2,061) (1,896)
Total Stockholders’ Equity 29,747 27,864
Total Liabilities and Stockholders’ Equity $«109,183 $«104,457
*Reclassified to conform with 2004 presentation.
The accompanying notes on pages 49 through 91 are an integral part of the financial statements.