IBM 2011 Annual Report Download - page 144

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142
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 cumulative
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 comparisons
assume that all dividends are reinvested.
One-Year
2010 2011
• IBM Common Stock $100.00 $127.42
• S & P 500 Index 100.00 102.11
• S & P Information Technology Index 100.00 102.41
Five-Year
2006 2007 2008 2009 2010 2011
• IBM Common Stock $100.00 $112.84 $89.41 $141.81 $162.07 $206.50
• S & P 500 Index 100.00 105.49 66.46 84.05 96.71 98.75
• S & P Information Technology Index 100.00 116.31 66.13 106.95 117.85 120.69
100
10 11
105
110
115
120
125
130
06 07 08 09 10 11
210
170
190
150
130
110
90
70
50
One-Year
(U.S. Dollar)
Five-Year
(U.S. Dollar)