IBM 2015 Annual Report Download - page 80
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78 Consolidated Statement of Financial Position
International Business Machines Corporation and Subsidiary Companies
($ inmillions except per share amounts)
At December 31: Notes 2015 2014
Assets
Current assets
Cash and cash equivalents $ 7,686 $ 8,476
Marketable securities D508 0
Notes and accounts receivable—trade (net of allowances of $367 in 2015 and $336 in 2014) 8,333 9,090
Short-term fi nancing receivables (net of allowances of $490 in 2015 and $452 in 2014) F19,020 19,835
Other accounts receivable (net of allowances of $51 in 2015 and $40 in 2014) 1,201 2,906
Inventories E1,551 2,103
Prepaid expenses and other current assets 4,205 4,967
Total current assets 42,504 47,377*
Property, plant and equipment G29,342 39,034
Less: Accumulated depreciation G18,615 28,263
Property, plant and equipment—net G10,727 10,771
Long-term fi nancing receivables (net of allowances of $118 in 2015 and $126 in 2014) F10,013 11,109
Prepaid pension assets S1,734 2,160
Deferred taxes N4,822 6,675*
Goodwill I32,021 30,556
Intangible assets—net I3,487 3,104
Investments and sundry assets H5,187 5,520**
Total assets $ 110,495 $ 117,271 * **
Liabilities and equity
Current liabilities
Taxes N$ 2,847 $ 5,084
Short-term debt D&J 6,461 5,731**
Accounts payable 6,028 6,864
Compensation and benefi ts 3,560 4,031
Deferred income 11,021 11,877
Other accrued expenses and liabilities 4,353 5,994*
Total current liabilities 34,269 39,581* **
Long-term debt D&J 33,428 34,991**
Retirement and nonpension postretirement benefi t obligations S 16,504 18,261
Deferred income 3,771 3,691
Other liabilities K8,099 8,733*
Total liabilities 96,071 105,257* **
Contingencies and commitments M
Equity L
IBM stockholders’ equity
Common stock, par value $.20 per share, and additional paid-in capital 53,262 52,666
Shares authorized: 4,687,500,000
Shares issued (2015—2,221,223,449; 2014—2,215,209,574)
Retained earnings 146,124 137,793
Treasury stock, at cost (shares: 2015—1,255,494,724; 2014—1,224,685,815) (155,518) (150,715)
Accumulated other comprehensive income/(loss) (29,607) (27,875)
Total IBM stockholders’ equity 14,262 11,868
Noncontrolling interests A162 146
Total equity 14,424 12,014
Total liabilities and equity $ 110,495 $ 117,271 * **
Amounts may not add due to rounding.
* Reclassified to reflect adoption of the FASB guidance on deferred taxes in consolidated financial statements. Refer to noteB, “Accounting Changes,” for additional information.
** Reclassified to reflect adoption of the FASB guidance on debt issuance costs in consolidated financial statements. Refer to noteB, “Accounting Changes,” for additional information.
The accompanying notes on pages 82 through 146 are an integral part of the financial statements.