IBM 2013 Annual Report Download - page 110

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Notes to Consolidated Financial Statements
International Business Machines Corporation and Subsidiary Companies
109
Lease Receivables
($ in millions)
At December 31, 2013:
Major
Markets
Growth
Markets
Credit rating
AAA – A A- $ 743 $ 68
A+ – A- 1,513 168
BBB+ – BBB- 2,111 957
BB+ – BB 1,393 350
BB- – B+ 595 368
B – B- 365 214
CCC+ – D 76 74
To t a l $6,796 $2,200
Loan Receivables
($ in millions)
At December 31, 2013:
Major
Markets
Growth
Markets
Credit rating
AAA – A A- $ 1,151 $ 125
A+ – A- 2,344 307
BBB+ – BBB- 3,271 1,745
BB+ – BB 2,158 638
BB- – B+ 922 672
B – B- 565 391
CCC+ – D 118 134
To t a l $10,529 $4,012
At December 31, 2013, the industries which made up Global Financ-
ing’s receivables portfolio consisted of: Financial (39 percent),
Government (14 percent), Manufacturing (14 percent), Services (8
percent), Retail (8 percent), Healthcare (6 percent), Communications
(6 percent) and Other (4 percent).
Lease Receivables
($ in millions)
At December 31, 2012:
Major
Markets
Growth
Markets
Credit rating
AAA – A A- $ 646 $ 86
A+ – A- 1,664 223
BBB+ – BBB- 2,285 776
BB+ – BB 1,367 450
BB- – B+ 552 418
B – B- 399 127
CCC+ – D 124 58
To t a l $7,036 $2,138
Loan Receivables
($ in millions)
At December 31, 2012:
Major
Markets
Growth
Markets
Credit rating
AAA – A A- $ 887 $ 148
A+ – A- 2,286 382
BBB+ – BBB- 3,139 1,333
BB+ – BB 1,878 773
BB- – B+ 758 718
B – B- 548 218
CCC+ – D 170 99
To t a l $9,666 $3,670
At December 31, 2012, the industries which made up Global
Financing’s receivables portfolio consisted of: Financial (38 percent),
Government (16 percent), Manufacturing (14 percent), Retail (9 per-
cent), Services (7 percent), Healthcare (6 percent), Communications
(6 percent) and Other (4 percent).