IBM 2005 Annual Report Download - page 12

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ReportofFinancials
INTERNATIONALBUSINESSMACHINESCORPORATION ANDSUBSIDIARYCOMPANIES
_11
ReportofManagement 12
ReportofIndependentRegistered
PublicAccounting Firm 13
ManagementDiscussion
RoadMap 14
Forward-LookingandCautionaryStatements 15
ManagementDiscussionSnapshot 15
DescriptionofBusiness 17
YearinReview 22
PriorYearinReview 34
LookingForward 36
EmployeesandRelatedWorkforce 43
GlobalFinancing 43
ConsolidatedFinancialStatements
Earnings 48
FinancialPosition 49
Cash Flows 50
Stockholders’ Equity 51
NotestoConsolidatedFinancialStatements
ASignificantAccountingPolicies 54
BAccountingChanges 61
CAcquisitions/Divestitures 63
DFinancialInstruments(excludingderivatives) 67
EInventories 68
FFinancingReceivables 68
GPlant,RentalMachinesandOtherProperty 68
HInvestmentsandSundryAssets 68
IIntangibleAssetsIncludingGoodwill 68
JSecuritizationofReceivables 70
KBorrowings 70
LDerivativesandHedgingTransactions 71
MOtherLiabilities 74
NStockholders’EquityActivity 75
OContingenciesandCommitments 76
PTaxes 79
QResearch,DevelopmentandEngineering 80
R2005 Actions 80
SEarningsPerShareofCommonStock 82
TRentalExpenseandLeaseCommitments 83
UStock-BasedCompensation 83
VRetirement-RelatedBenefits 85
WSegmentInformation 95
XSubsequentEvents 100
Five-YearComparisonofSelected
FinancialData 101
SelectedQuarterlyData 102
BoardofDirectorsandSenior
ExecutiveOfficers 103
StockholderInformation 104