IBM 2015 Annual Report Download - page 151

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149
Performance Graph
International Business Machines Corporation and Subsidiary Companies
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN FOR IBM,
S&P 500 STOCK INDEX AND S&P INFORMATION TECHNOLOGY INDEX
The following graph compares the five-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. Under those rules, the
second index used for comparison may be a published industry
(U.S. Dollar) 2010 2011 2012 2013 2014 2015
IBM Common Stock $100.00 $127.42 $134.98 $134.73 $118.04 $104.57
S & P 500 Index 100.00 102.11 118.45 156.82 178.29 180.75
S & P Information Technology Index 100.00 102.41 117.59 151.03 181.40 192.15
240
280
40
80
200
160
120
10 11 12 13 14 15
or line-of-business index. The S&P Information Technology Index
is such an index. IBM is also included in this index.
The 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 com-
parisons assume that all dividends are reinvested.