IBM 2009 Annual Report Download - page 131

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Performance Graphs
INTERNATIONAL BUSINESS MACHINES CORPORATION AND SUBSIDIARY COMPANIES
Comparison of One-, Five- and Ten-year Cumulative Total Return for IBM,
S&P 500 Stock Index and S&P Information Technology Index
The following graphs compare the one-, five- and ten-year cumu-
lative total returns for IBM common stock with the comparable
cumulative return of certain Standard & Poor’s (S&P) indices.
Due to the fact that IBM is a company included in the S&P 500
Stock Index, the SEC’s rules require the use of that index for the
required five-year graph. Under those rules, the second index
used for comparison may be a published industry or line-of-
business index. The S&P Information Technology Index is such
an index. IBM is also included in this index.
Each graph assumes $100 invested on December 31 (of the
initial year shown in the graph) in IBM common stock and $100
invested on the same date in each of the S&P indices. The com-
parisons assume that all dividends are reinvested.
One-year Five-year
($ usd) ($ usd)
08
180
160
140
120
100
09
04 05 06 07 08
160
140
120
100
80
60
09
99 00 01 02 03
150
120
90
60
30
0
04 05 06 07 08 09
08
180
160
140
120
100
09
04 05 06 07 08
160
140
120
100
80
60
09
99 00 01 02 03
150
120
90
60
30
0
04 05 06 07 08 09
Five-year
2004 2005 2006 2007 2008 2009
• IBM Common Stock $100.00 $ 84.17 $100.81 $113.75 $90.13 $142.96
• S & P 500 Index 100.00 104.91 121.48 128.16 80.74 102.11
• S & P Information Technology Index 100.00 100.99 109.49 127.35 72.41 117.11
One-year
2008 2009
• IBM Common Stock $100.00 $158.61
• S & P 500 Index 100.00 126.46
• S & P Information Technology Index 100.00 161.72
129