v3.25.2
CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 11,943 $ 13,947
Restricted cash 83 214
Marketable securities 3,504 644
Notes and accounts receivable — trade (net of allowances of $109 in 2025 and $114 in 2024) 5,974 6,804
Short-term financing receivables:    
Held for investment (net of allowances of $112 in 2025 and $109 in 2024) 5,586 6,259
Held for sale 746 900
Other accounts receivable (net of allowances of $41 in 2025 and $31 in 2024) 1,187 947
Inventory, at lower of average cost or net realizable value:    
Finished goods 188 134
Work in process and raw materials 1,063 1,155
Total inventory 1,251 1,289
Deferred costs 1,182 959
Prepaid expenses and other current assets 2,796 2,520
Total current assets 34,253 34,482
Property, plant and equipment 18,160 17,691
Less: Accumulated depreciation 12,218 11,959
Property, plant and equipment — net 5,943 5,731
Operating right-of-use assets — net 3,315 3,197
Long-term financing receivables (net of allowances of $29 in 2025 and $19 in 2024) 6,171 5,353
Prepaid pension assets 7,983 7,492
Deferred costs 795 788
Deferred taxes 8,475 6,978
Goodwill 67,506 60,706
Intangible assets — net 12,253 10,660
Investments and sundry assets 1,891 1,787
Total assets 148,585 137,175
Current liabilities:    
Taxes 1,681 2,033
Short-term debt 8,945 5,089
Accounts payable 3,974 4,032
Compensation and benefits 3,353 3,605
Deferred income 15,022 13,907
Operating lease liabilities 820 768
Other accrued expenses and liabilities 3,932 3,709
Total current liabilities 37,726 33,142
Long-term debt 55,219 49,884
Retirement and nonpension postretirement benefit obligations 9,882 9,432
Deferred income 3,913 3,622
Operating lease liabilities 2,735 2,655
Other liabilities 11,522 11,048
Total liabilities 120,998 109,783
IBM stockholders’ equity:    
Common stock 62,392 61,380
Retained earnings 151,367 151,163
Treasury stock - at cost (170,209) (169,968)
Accumulated other comprehensive income/(loss) (16,041) (15,269)
Total IBM stockholders’ equity 27,509 27,307
Noncontrolling interests 79 86
Total equity 27,588 27,393
Total liabilities and equity $ 148,585 $ 137,175