IBM 2014 Annual Report Download - page 153

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152 Selected Quarterly Data
International Business Machines Corporation and Subsidiary Companies
($ in millions except per share amounts and stock prices)
2014 First Quarter Second Quarter Third Quarter Fourth Quarter Full Year
Revenue $22,236 $24,047 $22,397 $24,113 $92,793
Gross profi t $10,627 $12,044 $10,874 $12,862 $46,407
Income from continuing operations $ 2,530 $ 4,251 $ 3,455 $ 5,515 $15,751
Loss from discontinued operations, net of tax $ (146) $ (115) $ (3,437) $ (31) $ (3,729)
Net income $ 2,384 $ 4,137 $ 18 $ 5,484 $12,022
Operating (non-GAAP) earnings*** $ 2,790 $ 4,456 $ 3,671 $ 5,785 $16,702
Earnings per share of common stock*
Assuming dilution:
Continuing operations $ 2.43 $ 4.23 $ 3.46 $ 5.54 $ 15.59
Discontinued operations $ (0.14) $ (0.11) $ (3.44) $ (0.03) $ (3.69)
Total $ 2.29 $ 4.12 $ 0.02 $ 5.51 $ 11.90
Basic:
Continuing operations $ 2.44 $ 4.25 $ 3.48 $ 5.57 $ 15.68
Discontinued operations $ (0.14) $ (0.11) $ (3.46) $ (0.03) $ (3.71)
Total $ 2.30 $ 4.14 $ 0.02 $ 5.54 $ 11.97
Diluted operating (non-GAAP)*** $ 2.68 $ 4.43 $ 3.68 $ 5.81 $ 16.53
Dividends per share of common stock $ 0.95 $ 1.10 $ 1.10 $ 1.10 $ 4.25
Stock prices**
High $195.63 $199.21 $196.40 $190.89
Low $172.19 $179.27 $181.70 $150.50
($ in millions except per share amounts and stock prices)
2013 First Quarter Second Quarter Third Quarter Fourth Quarter Full Year
Revenue $23,101 $24,544 $23,338 $27,385 $98,367
Gross profi t $10,734 $12,184 $11,429 $14,337 $48,684
Income from continuing operations $ 3,161 $ 3,365 $ 4,139 $ 6,216 $16,881
Loss from discontinued operations, net of tax $ (129) $ (138) $ (98) $ (32) $ (398)
Net income $ 3,032 $ 3,226 $ 4,041 $ 6,185 $16,483
Operating (non-GAAP) earnings*** $ 3,505 $ 3,718 $ 4,485 $ 6,649 $18,356
Earnings per share of common stock*
Assuming dilution:
Continuing operations $ 2.81 $ 3.03 $ 3.77 $ 5.76 $ 15.30
Discontinued operations $ (0.11) $ (0.12) $ (0.09) $ (0.03) $ (0.36)
Total $ 2.70 $ 2.91 $ 3.68 $ 5.73 $ 14.94
Basic:
Continuing operations $ 2.84 $ 3.06 $ 3.79 $ 5.80 $ 15.42
Discontinued operations $ (0.12) $ (0.13) $ (0.09) $ (0.03) $ (0.36)
Total $ 2.72 $ 2.93 $ 3.70 $ 5.77 $ 15.06
Diluted operating (non-GAAP)*** $ 3.12 $ 3.35 $ 4.08 $ 6.16 $ 16.64
Dividends per share of common stock $ 0.85 $ 0.95 $ 0.95 $ 0.95 $ 3.70
Stock prices**
High $215.90 $214.89 $200.94 $187.79
Low $190.39 $187.68 $181.10 $172.57
*
Earnings Per Share (EPS) in each quarter is computed using the weighted-average number of shares outstanding during that quarter while EPS for the full year is computed
using the weighted-average number of shares outstanding during the year. Thus, the sum of the four quarters’ EPS does not equal the full-year EPS.
** The stock prices reflect the high and low prices for IBM’s common stock on the New York Stock Exchange composite tape for the periods presented.
***
Refer to pages 44 and 45 in Attachment II of the company’s Form 8-K filed on January 20, 2015 and Attachment A of the company’s Form 8-K (Item 8.01) filed on October 20,
2014 for the reconciliation of non-GAAP financial information for the first and second quarters of 2014 and 2013, respectively. Refer to page 86 of the company’s third-quarter
2014 Form 10-Q filed on October 28, 2014 for the reconciliation of non-GAAP financial information for the third quarter of 2014 and 2013. See also the “GAAP Reconciliation,”
sections on pages 45, 46 and 52 for the reconciliation of non-GAAP financial information for the full year and fourth quarter of 2014 and 2013, respectively. The reconciling items
described in the “Operating (non-GAAP) Earnings,” section on page 22 have not changed from previously reported amounts.