IBM 2015 Annual Report Download - page 18

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16 Financial Highlights
International Business Machines Corporation and Subsidiary Companies
($ inmillions except per share amounts)
For the year ended December 31: 2015 2014
Revenue $ 81,741 $ 92,793
Net income $ 13,190 $ 12,022
Income from continuing operations $ 13,364 $ 15,751
Operating (non-GAAP) earnings* $ 14,659 $ 16,702
Earnings per share of common stock (continuing operations)
Assuming dilution $ 13.60 $ 15.59
Basic $ 13.66 $ 15.68
Diluted operating (non-GAAP)* $ 14.92 $ 16.53
Net cash provided by operating activities $ 17,008 $ 16,868
Capital expenditures, net 3,780 3,779
Share repurchases 4,609 13,679
Cash dividends paid on common stock 4,897 4,265
Per share of common stock 5.00 4.25
At December 31: 2015 2014**
Cash, cash equivalents and marketable securities $ 8,195 $ 8,476
Total as sets 110,495 117,271
Working capital 8,235 7,797
Total de bt 39,890 40,722
Total eq uit y 14,424 12,014
Common shares outstanding (in millions) 966 991
Market capitalization $133,507 $158,920
Stock price per common share $ 137.62 $ 160.44
* See pages41 and 42 for a reconciliation of net income to operating earnings.
** Reclassified to reflect adoption of FASB guidance on deferred taxes and debt issuance costs in consolidated financial statements.