IBM 2013 Annual Report Download - page 79

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78 Consolidated Statement of Earnings
International Business Machines Corporation and Subsidiary Companies
($ in millions except per share amounts)
For the year ended December 31: Notes 2013 2012 2011
Revenue
Services $57,655 $ 59,453 $ 60,721
Sales 40,049 43,014 44,063
Financing 2,047 2,040 2,132
Total revenue 99,751 104,507 106,916
Cost
Services 37,564 39,166 40,740
Sales 12,572 13,956 14,973
Financing 1,110 1,087 1,065
Total cost 51,246 54,209 56,778
Gross profit 48,505 50,298 50,138
Expense and other income
Selling, general and administrative 23,502 23,553 23,594
Research, development and engineering O6,226 6,302 6,258
Intellectual property and custom development income (822)(1,074)(1,108)
Other (income) and expense (327)(843)(20)
Interest expense D&J 402 459 411
Total expense and other (income) 28,981 28,396 29,135
Income before income taxes 19,524 21,902 21,003
Provision for income taxes N3,041 5,298 5,148
Net income $16,483 $ 16,604 $ 15,855
Earnings per share of common stock
Assuming dilution P$ 14.94 $ 14.37 $ 13.06
Basic P$ 15.06 $ 14.53 $ 13.25
Weighted-average number of common shares outstanding
Assuming dilution 1,103,042,156 1,155,449,317 1,213,767,985
Basic 1,094,486,604 1,142,508,521 1,196,951,006
Amounts may not add due to rounding.
The accompanying notes on pages 84 through 146 are an integral part of the financial statements.