IBM 2005 Annual Report Download - page 51
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Please find page 51 of the 2005 IBM annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.ConsolidatedStatementofCashFlows
INTERNATIONALBUSINESSMACHINESCORPORATION ANDSUBSIDIARYCOMPANIES
(Dollarsinmillions)
FORTHEYEARENDEDDECEMBER31: 2005 2004* 2003*
CashFlowfromOperatingActivitiesfromContinuingOperations:
Netincome $«««7,934 $«««7,479 $«««6,558
Lossfromdiscontinuedoperations 24 18 30
Adjustmentstoreconcileincomefromcontinuingoperations
tocashprovidedbyoperatingactivities:
Depreciation 4,147 3,959 3,961
Amortizationofintangibles 1,041 956 955
Stock-basedcompensation 1,043 1,578 1,573
Deferredincometaxes 2,185 1,794 790
Netgainonasset salesandother (1,525) (420) (275)
Otherthantemporarydeclinesinsecuritiesandotherinvestments 920 50
Changeinoperatingassetsandliabilities,netofacquisitions/divestitures:
Receivables(includingfinancingreceivables) 2,219 2,613 2,024
Inventories 202 (291) 293
Pensionassets (1,562) (1,284) (1,409)
Otherassets (584) (200) (567)
Accountspayable (536) 411 617
Pensionliabilities (166) (584) (286)
Otherliabilities 483 (700) 223
NetCashProvidedbyOperatingActivitiesfromContinuingOperations 14,914 15,349 14,537
CashFlowfromInvestingActivitiesfromContinuingOperations:
Paymentsforplant,rentalmachinesandotherproperty (3,842) (4,368) (4,393)
Proceedsfromdispositionofplant,rentalmachinesandotherproperty 1,107 1,311 1,039
Investmentinsoftware (792) (688) (581)
Purchasesofmarketablesecuritiesandotherinvestments (4,526) (8,718) (6,471)
Proceedsfromdispositionofmarketablesecuritiesandotherinvestments 4,180 8,830 7,023
Divestitureofbusinesses,netofcashtransferred 932 25 97
Acquisitionofbusinesses,netofcash acquired (1,482) (1,738) (1,836)
NetCashUsedinInvestingActivitiesfromContinuingOperations (4,423) (5,346) (5,122)
CashFlowfromFinancingActivitiesfromContinuingOperations:
Proceedsfromnewdebt 4,363 2,438 1,573
Short-term(repayments)/borrowings lessthan90days—net (232) 1,073 777
Paymentstosettledebt (3,522) (4,538) (5,831)
Commonstocktransactions—net (6,506) (5,361) (3,200)
Cashdividendspaid (1,250) (1,174) (1,085)
NetCashUsedinFinancingActivitiesfromContinuingOperations (7,147) (7,562) (7,766)
Effectofexchangeratechangesoncashandcashequivalents (789) 405 421
Netcashusedindiscontinuedoperations from: (Revised—seenoteA)
Operatingactivities (40) (83) (164)
Investingactivities ——2
Netchangeincashandcashequivalents 2,515 2,763 1,908
CashandcashequivalentsatJanuary1 10,053 7,290 5,382
CashandCashEquivalentsatDecember31 $«12,568 $«10,053 $«««7,290
SupplementalData:
Incometaxes paid $«««1,994 $«««1,837 $«««1,707
Interestpaid $««««««866 $««««««705 $««««««853
Capitalleaseobligations $««««««287 $««««««110 $««««««««27
Equitysecuritiesreceivedasdivestitureconsideration** $««««««430 $««««««««— $««««««««—
* Reclassifiedtoconformwith2005presentation.
** Lenovoequityvaluedat$542millionnetoflock-upprovisionsof$112million. SeenoteC,“Acquisitions/Divestitures,”onpages66and67foradditionalinformation.
Theaccompanyingnotesonpages 54 through 100 areanintegralpartofthefinancialstatements.
50_ ConsolidatedStatements