IBM 2009 Annual Report Download - page 18

Download and view the complete annual report

Please find page 18 of the 2009 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.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

($ in millions except per share amounts)
For the year ended December 31: 2009 2008
Revenue $ 95,758 $103,630
Net income $ 13,425 $ 12,334
Earnings per share of common stock:
Assuming dilution $ 10.01 $ 8.89*
Basic $ 10.12 $ 9.02*
Net cash provided by operating activities $ 20,773 $ 18,812
Capital expenditures, net 3,747 4,536
Share repurchase 7,429 10,578
Cash dividends paid on common stock 2,860 2,585
Per share of common stock 2.15 1.90
At December 31: 2009 2008
Cash, cash equivalents and marketable securities $ 13,973 $ 12,907
Total assets 109,022 109,524
Working capital 12,933 6,568
Total debt 26,099 33,926
Total equity 22,755 13,584**
Common shares outstanding (in millions) 1,305 1,339
Market capitalization $170,869 $112,698
Stock price per common share $ 130.90 $ 84.16
Number of employees in IBM/wholly owned subsidiaries 399,409 398,455
* Reflects the adoption of the Financial Accounting Standards Board (FASB) guidance in determining whether instruments granted in share-based payment transactions
are participating securities. See note B, “Accounting Changes,” on pages 79 to 82 for additional information.
** Reflects the adoption of the FASB guidance on noncontrolling interests in consolidated financial statements. See note B, “Accounting Changes,” on pages 79 to 82 for
additional information.
Financial Highlights
16