IBM 2004 Annual Report Download - page 90

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
International Business Machines Corporation and Subsidiary Companies
88
ibm annual report 2004
management system segment view
(Dollars in millions)
Hardware
Systems and Personal
Global Technology Systems Global Enterprise Total
FOR THE YEAR ENDED DECEMBER 31: Services Group Group Software Financing Investments Segments
2004:
External revenue $«46,213 $«17,916 $«12,794 $«15,094 $«2,607 $«1,180 $«««95,804
Internal revenue 3,131 1,051 173 1,805 1,287 8 7,455
Total revenue $«49,344 $«18,967 $«12,967 $«16,899 $«3,894 $«1,188 $«103,259
Pre-tax income/(loss) $«««4,657 $«««2,265 $««««««162 $«««4,541 $«1,494 $«««(187) $«««12,932
Revenue year-to-year change 8.5% 9.4% 12.2% 6.1% (5.6) % 11.0% 8.1%
Pre-tax income year-to-year change 3.5% 23.9% NM 19.2% 26.4% 25.8% 18.1%
Pre-tax income margin 9.4% 11.9% 1.2% 26.9% 38.4% (15.7) % 12.5%
2003:
External revenue $«42,635 $«16,469 $«11,387 $«14,311 $«2,827 $«1,065 $«««88,694
Internal revenue 2,837 865 171 1,613 1,300 5 6,791
Total revenue $«45,472 $«17,334 $«11,558 $«15,924 $«4,127 $«1,070 $«««95,485
Pre-tax income/(loss) $«««4,499 $«««1,828 $«««««(118) $«««3,808 $«1,182 $«««(252) $«««10,947
Revenue year-to-year change 16.0% 2.5% 3.3% 11.4% (0.4) % 4.3% 10.0%
Pre-tax income year-to-year change 23.0% NM NM 7.1% 23.8% 14.0% 29.2%
Pre-tax income margin 9.9% 10.5% (1.0) % 23.9% 28.6% (23.6) % 11.5%
2002:
External revenue $«36,360 $«16,195 $«11,049 $«13,074 $«3,203 $«1,022 $«««80,903
Internal revenue 2,854 711 139 1,225 939 4 5,872
Total revenue $«39,214 $«16,906 $«11,188 $«14,299 $«4,142 $«1,026 $«««86,775
Pre-tax income/(loss) $«««3,657 $««««««538 $««««««««57 $«««3,556 $««««955 $«««(293) $«««««8,470
Revenue year-to-year change 4.3% (10.8) % (7.2) % 2.7% (2.4) % (8.6) % (1.3) %
Pre-tax income year-to-year change (29.1) % (74.1) % 137.3% 12.2% (16.4) % 7.6% (23.6) %
Pre-tax income margin 9.3% 3.2% 0.5% 24.9% 23.1% (28.6) % 9.8%
NM— Not Meaningful