IBM 2012 Annual Report Download - page 17

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1616 Financial Highlights
International Business Machines Corporation and Subsidiary Companies
($ in millions except per share amounts)
For the year ended December 31: 2012 2011
Revenue $104,507 $106,916
Net income $ 16,604 $ 15,855
Operating (non-GAAP) earnings* $ 17,627 $ 16,318
Earnings per share of common stock
Assuming dilution $ 14.37 $ 13.06
Basic $ 14.53 $ 13.25
Diluted operating (non-GAAP)* $ 15.25 $ 13.44
Net cash provided by operating activities $ 19,586 $ 19,846
Capital expenditures, net 4,307 4,059
Share repurchases 11,995 15,046
Cash dividends paid on common stock 3,773 3,473
Per share of common stock 3.30 2.90
At December 31: 2012 2011
Cash, cash equivalents and marketable securities $ 11,128 $ 11,922
Total assets 119,213 116,433
Working capital 5,807 8,805
Total debt 33,269 31,320
Total equity 18,984 20,236
Common shares outstanding (in millions) 1,117 1,163
Market capitalization $214,032 $213,886
Stock price per common share $ 191.55 $ 183.88
Number of employees in IBM/wholly owned subsidiaries 434,246 433,362
* See page 38 for a reconciliation of net income to operating earnings.