Business Finance
AT Still University Ratio of International Business Machines Corporation Discussion

AT Still University

Question Description

Need help with my Accounting question - I’m studying for my class.

The assignment is already started but needs some help in completing.

The Vice President of Finance called you into a meeting to discuss the overall vision and future of your company. He states that he has always admired International Business Machines (IBM) since he studied the company in college. The VP has not followed the company as of late and would like you to prepare an update as to how IBM is doing over last three years and the top line outlook for next year. The VP would like you to use similar techniques that you have used in writing your previous reports.

Instructions

Using the financial statements of International Business Machines Corporation:

  1. Use Mergent Onlineto download income statement to Excel.
  2. Using the line item descriptions from the income statement, create a new tab and identify which expenses (costs) are likely fixed, variable, product, and period costs.
  3. Using Mergent Online, create a ratio analysis report showing International Business Machines Corporation and its largest 4 competitors based on total revenue
  4. Using the historical income statement data, prepare a sales (revenue) forecast for the upcoming year including your assumptions, calculations, and rationale.
  5. Using the SEC.gov website, find articles on of International Business Machines Corporation and comment in a Word document on any recent accounting standards or ethical considerations that affect the company.

Rubric:

F

F

C

B

A

0

1

2

3

4

Did not Submit

No Pass

Competence

Proficiency

Mastery

Not Submitted

Did not prepare an income statement vertical and horizontal analysis using three years of data.

Prepared a basic income statement vertical and horizontal analysis using three years of data.

Prepared a comprehensive income statement vertical and horizontal analysis using three years of data.

Prepared a detailed income statement vertical and horizontal analysis using three years of data.

Not Submitted

Did not use the items from the income statement to identify which expenses (costs) are likely fixed, variable, product, and period costs.

Provided a basic identification of which expenses (costs) are likely fixed, variable, product, and period costs from the income statement.

Provided a summary of which expenses (costs) are likely fixed, variable, product, and period costs from the income statement.

Provided a detailed identification of which expenses (costs) are likely fixed, variable, product, and period costs from the income statement.

Not Submitted

Did not create a ratio analysis report showing International Business Machines Corporation and its largest 4 competitors based on total revenue.

Created a basic ratio analysis report showing International Business Machines Corporation and its largest 4 competitors based on total revenue.

Created a summarized ratio analysis report showing International Business Machines Corporation and its largest 4 competitors based on total revenue.

Created a detailed ratio analysis report showing International Business Machines Corporation and its largest 4 competitors based on total revenue.

Not Submitted

Did not prepare a sales (revenue) forecast for the upcoming year including assumptions, calculations, and rationale.

Prepared a basic sales (revenue) forecast for the upcoming year including assumptions, calculations, and rationale.

Prepared an elaborative sales (revenue) forecast for the upcoming year including assumptions, calculations, and rationale.

Prepared a detailed sales (revenue) forecast for the upcoming year including assumptions, calculations, and rationale.

Not Submitted

Did not provide basic comments on recent accounting standards or ethical considerations that affect IBM.

Provided basic comments on recent accounting standards or ethical considerations that affect IBM.

Provided elaborate comments on recent accounting standards or ethical considerations that affect IBM.

Provided very detailed comments on recent accounting standards or ethical considerations that affect IBM.

Unformatted Attachment Preview

Powered by Clearbit International Business Machines Corp (NYS: IBM) Exchange rate used is that of the Year End reported date As Reported Annual Income Statement Report Date 12/31/2018 Currency USD Audit Status Not Qualified Consolidated Yes Scale Thousands Services revenue 51,350,000 Sales revenue 26,641,000 Financing revenue 1,599,000 Total revenue 79,591,000 Cost of services 34,059,000 Cost of sales 7,464,000 Cost of financing 1,132,000 Total cost 42,655,000 Gross profit 36,936,000 Selling, general & administrative expense - other 16,438,000 Advertising & promotional expense 1,466,000 Workforce rebalancing charges 598,000 Retirement-related costs Amortization of acquired intangible assets 435,000 Stock-based compensation 361,000 Bad debt expense 67,000 Selling, general & administrative expense 19,366,000 Research, development & engineering expense 5,379,000 Intellectual property & custom development income 1,026,000 Foreign currency transaction gains (losses) 427,000 Gains (losses) on derivative instruments (434,000) Interest income 264,000 Net gains (losses) from securities & investment assets 101,000 Retirement-related income (costs) (1,572,000) Other income 63,000 Other income & expense 1,152 Interest expense 723,000 Total expense & other income (25,594,000) Income from continuing operations before income taxes - U.S. operations 627,000 Income from continuing operations before income taxes - non-U.S.10,715,000 operations Income from continuing operations before income taxes 11,342,000 Provision for (benefit from) U.S. federal income taxes - current (342,000) Provision for (benefit from) U.S. federal income taxes - deferred 1,377,000 Total provision for (benefit from) U.S. federal income taxes 1,035,000 Provision for (benefit from) U.S. state & local income taxes - current 127,000 12/31/2017 USD Not Qualified Yes Thousands 50,709,000 26,715,000 1,715,000 79,139,000 34,447,000 7,256,000 1,210,000 42,913,000 36,227,000 16,568,000 1,445,000 199,000 959,000 496,000 384,000 55,000 20,107,000 5,787,000 1,466,000 (405,000) 341,000 144,000 20,000 116,000 (216,000) 615,000 24,827,000 560,000 10,840,000 11,400,000 2,388,000 77,000 2,465,000 55,000 Provision for (benefit from) U.S. state & local income taxes - deferred(292,000) Total provision for (benefit from) U.S. state & local income taxes (165,000) Provision for (benefit from) nopn-U.S. income taxes - current 2,135,000 Provision for (benefit from) nopn-U.S. income taxes - deferred (386,000) Total provision for (benefit from) nopn-U.S. income taxes 1,749,000 Provision for (benefit from) income taxes 2,619,000 Income (loss) from continuing operations 8,723,000 Income (loss) from discontinued operations, net of tax 5,000 Net income (loss) 8,728,000 Weighted average shares outstanding - basic 912,048 Weighted average shares outstanding - diluted 916,316 Year end shares outstanding 892,479 Earnings (loss) per share from continuing operations - basic 10 Earnings (loss) per share from discontinued operations - basic 0 Net earnings (loss) per share - basic 10 Earnings (loss) per share from continuing operations - diluted 10 Earnings (loss) per share from discontinued operations - diluted 0 Net earnings (loss) per share - diluted 10 Dividends per share of common stock 6 Total number of employees 350,600 Number of common stockholders 395,480 Foreign currency translation adjustments (730,000) 28,000 83,000 3,891,000 (797,000) 3,094,000 5,642,000 5,758,000 (5,000) 5,753,000 932,828 937,386 922,179 6 6 6 6 366,600 408,697 152,000 12/31/2016 USD Not Qualified Yes Thousands 51,268,000 26,942,000 1,710,000 79,919,000 34,021,000 6,559,000 1,044,000 41,625,000 38,294,000 16,971,000 1,327,000 1,038,000 742,000 503,000 401,000 87,000 21,069,000 5,751,000 1,631,000 116,000 (260,000) 108,000 (23,000) (85,000) 145,000 630,000 25,964,000 3,650,000 8,680,000 12,330,000 186,000 (746,000) (560,000) 244,000 (44,000) 200,000 988,000 (179,000) 809,000 449,000 11,881,000 (9,000) 11,872,000 955,423 958,714 945,867 12 (0) 12 12 (0) 12 380,300 425,272 (20,000) IBM Operating Income Net Sales COGS Net Income R & D Costs Total Revenue SG&A PPE, Net Inventory Total Assets 2018 19,177,000 26,641,000 7,464,000 8,728,000 5,379,000 79,591,000 16,438,000 10,792,000 1,682,000 123,382,000 2017 19,459,000 26,715,000 7,256,000 5,753,000 5,787,000 79,139,000 16,568,000 11,116,000 1,583,000 125,356,000 2016 20,383,000 26,942,000 6,559,000 11,872,000 5,751,000 79,919,000 16,971,000 10,830,000 1,553,000 117,470,000 Microsoft Operating Income Net Sales COGS Net Income R & D Costs Total Revenue SG&A PPE, Net Inventory Total Assets 2018 35,058,000 64,497,000 15,420,000 16,571,000 14,726,000 110,360,000 22,223,000 29,460,000 2,662,000 258,848,000 2017 22,326,000 57,190,000 15,175,000 21,204,000 13,037,000 89,950,000 20,020,000 23,734,000 2,181,000 241,086,000 2016 20,182,000 61,502,000 17,880,000 16,798,000 11,988,000 85,320,000 19,260,000 18,356,000 2,251,000 193,694,000 Dell Operating Income Net Sales COGS Net Income (loss) R & D Costs Total Revenue SG&A PPE, Net Inventory Total Assets 2018 -191000 58,801,000 50,215,000 (3,855,000) 4,384,000 78,660,000 19,003,000 5,390,000 2,678,000 122,281,000 2017 -3,333,000 48,706,000 42,169,000 (1,718,000) 2,636,000 61,642,000 13,575,000 5,653,000 2,538,000 118,206,000 2016 -3,252,000 42,742,000 37,563,000 -1,104,000 1,051,000 50,911,000 7,850,000 1,649,000 1,619,000 45,122,000 Intel Operating Income Gross Margin COGS Net Income R & D Costs Total Revenue 2018 23,316,000 43,737,000 27,111,000 21,053,000 13,543,000 70,848,000 2017 17,936,000 39,069,000 23,692,000 9,601,000 13,098,000 62,761,000 2016 12,874,000 36,191,000 23,196,000 10,316,000 12,740,000 59,387,000 SG&A PPE, Net Inventory Total Assets 6,750,000 48,976,000 7,253,000 127,963,000 7,474,000 41,109,000 6,983,000 123,249,000 8,397,000 36,171,000 5,553,000 113,327,000 General Dynamic Operating Income Net Sales COGS Net Income R & D Costs Total Revenue SG&A PPE, Net Inventory Total Assets 2018 4,457,000 20,149,000 15,894,000 3,345,000 36,193,000 2,258,000 4,348,000 5,977,000 45,408,000 2017 4,177,000 19,016,000 14,799,000 2,912,000 30,973,000 2,010,000 3,517,000 5,303,000 35,046,000 2016 4,309,000 19,885,000 15,443,000 2,955,000 31,353,000 1,940,000 3,467,000 3,523,000 32,872,000 International Business Machine Corp (IBM) Internation Year 2018 Services revenue $ 51,350,000.00 Sales revenue $ 26,641,000.00 Financing revenue $ 1,599,000.00 Total revenue $ 79,591,000.00 Cost of services $ 34,059,000.00 Cost of sales $ 7,464,000.00 Cost of financing $ 1,132,000.00 Total cost $ 42,655,000.00 Gross profit $ 36,936,000.00 Selling, general & administrative expense - other $ 16,438,000.00 Advertising & promotional expense $ 1,466,000.00 Workforce rebalancing charges $ 598,000.00 Retirement-related costs $ Amortization of acquired intangible assets $ 435,000.00 Stock-based compensation $ 361,000.00 Bad debt expense $ 67,000.00 Selling, general & administrative expense $ 19,366,000.00 Research, development & engineering expense $ 5,379,000.00 Intellectual property & custom development income $ 1,026,000.00 Foreign currency transaction gains (losses) $ 427,000.00 Gains (losses) on derivative instruments $ (434,000.00) Interest income $ 264,000.00 Net gains (losses) from securities & investment assets $ 101,000.00 Retirement-related income (costs) $ Other income $ 63,000.00 Other income & expense $ 1,152.00 - (1,572,000.00) Interest expense $ Total expense & other income $ 723,000.00 Income from continuing operations before income taxes - U.S. operations $ 627,000.00 Income from continuing operations before income taxes - non-U.S. operations $ 10,715,000.00 Income from continuing operations before income taxes $ 11,342,000.00 Provision for (benefit from) U.S. federal income taxes - current $ Provision for (benefit from) U.S. federal income taxes - deferred $ 1,377,000.00 Total provision for (benefit from) U.S. federal income taxes $ 1,035,000.00 Provision for (benefit from) U.S. state & local income taxes - current $ 127,000.00 Provision for (benefit from) U.S. state & local income taxes - deferred $ (292,000.00) Total provision for (benefit from) U.S. state & local income taxes $ Provision for (benefit from) nopn-U.S. income taxes - current $ Provision for (benefit from) nopn-U.S. income taxes - deferred $ Total provision for (benefit from) nopn-U.S. income taxes $ (25,594,000.00) (342,000.00) (165,000.00) 2,135,000.00 (386,000.00) 1,749,000.00 Provision for (benefit from) income taxes $ 2,619,000.00 Income (loss) from continuing operations $ 8,723,000.00 Income (loss) from discontinued operations, net of tax $ 5,000.00 Net income (loss) $ 8,728,000.00 Weighted average shares outstanding - basic $ 912,048.07 Weighted average shares outstanding - diluted $ 916,315.71 Year end shares outstanding $ 892,479.41 Earnings (loss) per share from continuing operations - basic $ 9.56 Earnings (loss) per share from discontinued operations - basic $ 0.01 Net earnings (loss) per share - basic $ 9.57 Earnings (loss) per share from continuing operations - diluted $ 9.51 Earnings (loss) per share from discontinued operations - diluted $ 0.01 Net earnings (loss) per share - diluted $ 9.52 Dividends per share of common stock $ 6.21 Total number of employees $ 350,600.00 Number of common stockholders $ 395,480.00 Foreign currency translation adjustments $ (730,000.00) International Business Machine Corp (IBM) 2017-2018 Dollar Change 2017-2018 2017 Formula: 2018-2017 International Bu Percent Change 2017-2018 Formula: 2018-2017/2017 2017 $ 50,709,000.00 $ 641,000.00 1.26% $ 50,709,000.00 $ 26,715,000.00 $ (74,000.00) -0.28% $ 26,715,000.00 $ 1,715,000.00 $ (116,000.00) -6.76% $ 1,715,000.00 $ 79,139,000.00 $ 452,000.00 0.57% $ 79,139,000.00 $ 34,447,000.00 $ (388,000.00) -1.13% $ 34,447,000.00 $ 7,256,000.00 $ 208,000.00 2.87% $ 7,256,000.00 $ 1,210,000.00 $ (78,000.00) -6.45% $ 1,210,000.00 $ 42,913,000.00 $ (258,000.00) -0.60% $ 42,913,000.00 $ 36,227,000.00 $ 709,000.00 1.96% $ 36,227,000.00 $ 16,568,000.00 $ (130,000.00) -0.78% $ 16,568,000.00 $ 1,445,000.00 $ 21,000.00 1.45% $ 1,445,000.00 $ 199,000.00 $ 399,000.00 200.50% $ 199,000.00 $ 959,000.00 $ (959,000.00) -100.00% $ 959,000.00 $ 496,000.00 $ (61,000.00) -12.30% $ 496,000.00 $ 384,000.00 $ (23,000.00) -5.99% $ 384,000.00 $ 55,000.00 $ 12,000.00 21.82% $ 55,000.00 $ 20,107,000.00 $ (741,000.00) -3.69% $ 20,107,000.00 $ 5,787,000.00 $ (408,000.00) -7.05% $ 5,787,000.00 $ 1,466,000.00 $ (440,000.00) -30.01% $ 1,466,000.00 $ (405,000.00) $ 832,000.00 -205.43% $ (405,000.00) -227.27% $ 341,000.00 $ 341,000.00 $ (775,000.00) $ 144,000.00 $ 120,000.00 83.33% $ 144,000.00 $ 20,000.00 $ 81,000.00 405.00% $ 20,000.00 $ $ $ 116,000.00 $ (1,572,000.00) 0.00% $ $ (53,000.00) -45.69% $ (216,000.00) $ $ 615,000.00 $ $ 24,827,000.00 $ $ 560,000.00 $ $ 10,840,000.00 $ 217,152.00 116,000.00 (216,000.00) 17.56% $ 615,000.00 -203.09% $ 24,827,000.00 67,000.00 11.96% $ 560,000.00 $ (125,000.00) -1.15% $ 10,840,000.00 11,400,000.00 $ (58,000.00) -0.51% $ 11,400,000.00 $ 2,388,000.00 $ (2,730,000.00) -114.32% $ 2,388,000.00 $ 77,000.00 $ 1,300,000.00 1688.31% $ 77,000.00 $ 2,465,000.00 $ (1,430,000.00) -58.01% $ 2,465,000.00 $ 55,000.00 $ 72,000.00 130.91% $ 55,000.00 $ 28,000.00 $ (320,000.00) -1142.86% $ 28,000.00 $ 83,000.00 $ (248,000.00) -298.80% $ 83,000.00 $ 3,891,000.00 $ (1,756,000.00) -45.13% $ 3,891,000.00 $ $ (797,000.00) $ 3,094,000.00 $ 108,000.00 -100.53% $ - (50,421,000.00) 411,000.00 (1,345,000.00) -51.57% $ -43.47% $ (797,000.00) 3,094,000.00 $ 5,642,000.00 $ (3,023,000.00) -53.58% $ 5,642,000.00 $ 5,758,000.00 $ 2,965,000.00 51.49% $ 5,758,000.00 (5,000.00) $ 10,000.00 -200.00% $ 2,975,000.00 51.71% $ 5,753,000.00 $ (5,000.00) $ 5,753,000.00 $ $ 932,828.30 $ (20,780.22) -2.23% $ 932,828.30 $ 937,385.63 $ (21,069.91) -2.25% $ 937,385.63 $ 922,179.23 $ (29,699.81) -3.22% $ 922,179.23 $ 6.17 $ 3.39 54.94% $ 6.17 $ 0.01 0.00% $ $ - - $ 6.17 $ 3.40 55.11% $ 6.17 $ 6.14 $ 3.37 54.89% $ 6.14 $ 0.01 0.00% $ $ 3.38 55.05% $ $ 6.21 0.00% $ $ $ $ 6.14 - $ 366,600.00 $ $ 408,697.00 $ $ 152,000.00 $ (16,000.00) 6.14 - -4.36% $ 366,600.00 (13,217.00) -3.23% $ 408,697.00 (882,000.00) -580.26% $ 152,000.00 International Business Machine Corp (IBM) 2016-2017 Dollar Change 2016-2017 2016 Formula: 2017-2016 Percent Change 2016-2017 Formula: 2017-2016/2016 $ 51,268,000.00 $ (559,000.00) -1.09% $ 26,942,000.00 $ (227,000.00) -0.84% $ 1,710,000.00 $ $ 79,919,000.00 $ (780,000.00) -0.98% $ 34,021,000.00 $ 426,000.00 1.25% $ 6,559,000.00 $ 697,000.00 10.63% $ 1,044,000.00 $ 166,000.00 15.90% $ 41,625,000.00 $ 1,288,000.00 3.09% $ 38,294,000.00 $ (2,067,000.00) -5.40% $ 16,971,000.00 $ (403,000.00) -2.37% $ 1,327,000.00 $ 118,000.00 8.89% $ 1,038,000.00 $ (839,000.00) -80.83% $ 742,000.00 $ 217,000.00 29.25% $ 503,000.00 $ (7,000.00) -1.39% $ 401,000.00 $ (17,000.00) -4.24% $ 87,000.00 $ (32,000.00) -36.78% $ 21,069,000.00 $ (962,000.00) -4.57% $ 5,751,000.00 $ 36,000.00 0.63% $ 1,631,000.00 $ (165,000.00) -10.12% $ 116,000.00 $ (521,000.00) -449.14% 601,000.00 -231.15% $ (260,000.00) $ 5,000.00 0.29% $ 108,000.00 $ 36,000.00 33.33% $ (23,000.00) $ 43,000.00 -186.96% $ - $ (85,000.00) $ $ 145,000.00 $ $ 630,000.00 $ 25,964,000.00 $ $ - 0.00% 201,000.00 -236.47% (361,000.00) -248.97% $ (15,000.00) -2.38% $ (1,137,000.00) -4.38% 3,650,000.00 $ (3,090,000.00) -84.66% $ 8,680,000.00 $ 2,160,000.00 24.88% $ 12,330,000.00 $ $ 186,000.00 $ 2,202,000.00 1183.87% $ (746,000.00) $ 823,000.00 -110.32% $ (560,000.00) $ 3,025,000.00 -540.18% $ 244,000.00 $ (44,000.00) $ $ 200,000.00 $ $ 988,000.00 $ $ $ $ (179,000.00) $ 809,000.00 $ (930,000.00) -7.54% (189,000.00) -77.46% 72,000.00 -163.64% (117,000.00) 2,903,000.00 (618,000.00) 2,285,000.00 -58.50% 293.83% 345.25% 282.45% $ 449,000.00 $ 5,193,000.00 $ 11,881,000.00 $ (6,123,000.00) $ (9,000.00) $ 4,000.00 1156.57% -51.54% -44.44% $ 11,872,000.00 $ (6,119,000.00) -51.54% $ 955,422.53 $ (22,594.24) -2.36% $ 958,714.10 $ (21,328.47) -2.22% $ 945,867.40 $ (23,688.18) -2.50% $ 12.44 $ (6.27) -50.40% $ (0.01) $ 0.01 -100.00% $ 12.43 $ (6.26) -50.36% $ 12.39 $ (6.25) -50.44% $ (0.01) $ 0.01 -100.00% $ 12.38 $ (6.24) -50.40% $ - $ $ 380,300.00 $ $ 425,272.00 $ $ (20,000.00) $ (13,700.00) (16,575.00) 172,000.00 0.00% -3.60% -3.90% -860.00% Income Statement Vertical Analysis International Business Machine Corp (IBM) Year Services revenue Sales revenue Financing revenue Total revenue Cost of services Cost of sales Cost of financing Total cost Gross profit Selling, general & administrative expense - other Advertising & promotional expense Workforce rebalancing charges Retirement-related costs Amortization of acquired intangible assets Stock-based compensation Bad debt expense Selling, general & administrative expense Research, development & engineering expense Intellectual property & custom development income Foreign currency transaction gains (losses) Gains (losses) on derivative instruments Interest income Net gains (losses) from securities & investment assets Retirement-related income (costs) Other income Other income & expense Interest expense Total expense & other income Income from continuing operations before income taxes - U.S. operations Income from continuing operations before income taxes - non-U.S. operations Income from continuing operations before income taxes Provision for (benefit from) U.S. federal income taxes - current Provision for (benefit from) U.S. federal income taxes - deferred Total provision for (benefit from) U.S. federal income taxes Provision for (benefit from) U.S. state & local income taxes - current Provision for (benefit from) U.S. state & local income taxes - deferred Total provision for (benefit from) U.S. state & local income taxes Provision for (benefit from) nopn-U.S. income taxes - current Provision for (benefit from) nopn-U.S. income taxes - deferred 2018 51,350,000 26,641,000 1,599,000 79,591,000 34,059,000 7,464,000 1,132,000 42,655,000 36,936,000 16,438,000 1,466,000 598,000 435,000 361,000 67,000 19,366,000 5,379,000 1,026,000 427,000 (434,000) 264,000 101,000 (1,572,000) 63,000 1,152 723,000 (25,594,000) 627,000 10,715,000 11,342,000 (342,000) 1,377,000 1,035,000 127,000 (292,000) (165,000) 2,135,000 (386,000) Total provision for (benefit from) nopn-U.S. income taxes Provision for (benefit from) income taxes Income (loss) from continuing operations Income (loss) from discontinued operations, net of tax Net income (loss) Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Year end shares outstanding Earnings (loss) per share from continuing operations - basic Earnings (loss) per share from discontinued operations - basic Net earnings (loss) per share - basic Earnings (loss) per share from continuing operations - diluted Earnings (loss) per share from discontinued operations - diluted Net earnings (loss) per share - diluted Dividends per share of common stock Total number of employees Number of common stockholders Foreign currency translation adjustments 1,749,000 2,619,000 8,723,000 5,000 8,728,000 912,048 916,316 892,479 10 0 10 10 0 10 6 350,600 395,480 (730,000) Formula =number / total revenue 2018 64.52% 33.47% 2.01% 2017 1,715,000 2017 64.08% 33.76% 2.17% 1,710,000 2016 64.15% 33.71% 2.14% 100.00% 79,139,000 100.00% 79,919,000 100.00% 42.79% 9.38% 1.42% 53.59% 46.41% 20.65% 1.84% 0.75% 0.00% 0.55% 0.45% 0.08% 24.33% 6.76% 1.29% 0.54% -0.55% 0.33% 0.13% -1.98% 0.08% 0.00% 0.91% -32.16% 0.79% 13.46% 14.25% -0.43% 1.73% 1.30% 0.16% -0.37% -0.21% 2.68% -0.48% 34,447,000 34,021,000 1,210,000 43.53% 9.17% 1.53% 42,913,000 0.5422484 41,625,000 36,227,000 45.78% 20.94% 1.83% 0.25% 1.21% 0.63% 0.49% 0.07% 25.41% 7.31% 1.85% -0.51% 0.43% 0.18% 0.03% 0.00% 0.15% -0.27% 0.78% 31.37% 0.71% 13.70% 14.41% 3.02% 0.10% 3.11% 0.07% 0.04% 0.10% 4.92% -1.01% 38,294,000 42.57% 8.21% 1.31% 0.52084 47.92% 21.24% 1.66% 1.30% 0.93% 0.63% 0.50% 0.11% 26.36% 7.20% 2.04% 0.15% -0.33% 0.14% -0.03% 0.00% -0.11% 0.18% 0.79% 32.49% 4.57% 10.86% 15.43% 0.23% -0.93% -0.70% 0.31% -0.06% 0.25% 1.24% -0.22% 50,709,000 26,715,000 7,256,000 16,568,000 1,445,000 199,000 959,000 496,000 384,000 55,000 20,107,000 5,787,000 1,466,000 (405,000) 341,000 144,000 20,000 116,000 (216,000) 615,000 24,827,000 560,000 10,840,000 11,400,000 2,388,000 77,000 2,465,000 55,000 28,000 83,000 3,891,000 (797,000) 2016 51,268,000 26,942,000 6,559,000 1,044,000 16,971,000 1,327,000 1,038,000 742,000 503,000 401,000 87,000 21,069,000 5,751,000 1,631,000 116,000 (260,000) 108,000 (23,000) (85,000) 145,000 630,000 25,964,000 3,650,000 8,680,000 12,330,000 186,000 (746,000) (560,000) 244,000 (44,000) 200,000 988,000 (179,000) 2.20% 3.29% 10.96% 0.01% 10.97% 1.15% 1.15% 1.12% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.44% 0.50% -0.92% 3,094,000 5,642,000 5,758,000 (5,000) 5,753,000 932,828 937,386 922,179 6 6 6 6 366,600 408,697 152,000 3.91% 7.13% 7.28% -0.01% 7.27% 1.18% 1.18% 1.17% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.46% 0.52% 0.19% 809,000 449,000 11,881,000 (9,000) 11,872,000 955,423 958,714 945,867 12 (0) 12 12 (0) 12 380,300 425,2 ...
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International Business Machines Corp (NYS: IBM)
Exchange rate used is that of the Year End reported date

As Reported Annual Income Statement
Report Date
12/31/2018
Currency
USD
Audit Status
Not Qualified
Consolidated
Yes
Scale
Thousands
Services revenue
51,350,000
Sales revenue
26,641,000
Financing revenue
1,599,000
Total revenue
79,591,000
Cost of services
34,059,000
Cost of sales
7,464,000
Cost of financing
1,132,000
Total cost
42,655,000
Gross profit
36,936,000
Selling, general & administrative expense - other
16,438,000
Advertising & promotional expense
1,466,000
Workforce rebalancing charges
598,000
Retirement-related costs
Amortization of acquired intangible assets
435,000
Stock-based compensation
361,000
Bad debt expense
67,000
Selling, general & administrative expense
19,366,000
Research, development & engineering expense
5,379,000
Intellectual property & custom development income
1,026,000
Foreign currency transaction gains (losses)
427,000
Gains (losses) on derivative instruments
(434,000)
Interest income
264,000
Net gains (losses) from securities & investment assets
101,000
Retirement-related income (costs)
(1,572,000)
Other income
63,000
Other income & expense
1,152
Interest expense
723,000
Total expense & other income
(25,594,000)
Income from continuing operations before income taxes - U.S. operations
627,000
Income from continuing operations before income taxes - non-U.S.10,715,000
operations
Income from continuing operations before income taxes
11,342,000
Provision for (benefit from) U.S. federal income taxes - current
(342,000)
Provision for (benefit from) U.S. federal income taxes - deferred
1,377,000
Total provision for (benefit from) U.S. federal income taxes
1,035,000
Provision for (benefit from) U.S. state & local income taxes - current 127,000

12/31/2017
USD
Not Qualified
Yes
Thousands
50,709,000
26,715,000
1,715,000
79,139,000
34,447,000
7,256,000
1,210,000
42,913,000
36,227,000
16,568,000
1,445,000
199,000
959,000
496,000
384,000
55,000
20,107,000
5,787,000
1,466,000
(405,000)
341,000
144,000
20,000
116,000
(216,000)
615,000
24,827,000
560,000
10,840,000
11,400,000
2,388,000
77,000
2,465,000
55,000

Provision for (benefit from) U.S. state & local income taxes - deferred(292,000)
Total provision for (benefit from) U.S. state & local income taxes
(165,000)
Provision for (benefit from) nopn-U.S. income taxes - current
2,135,000
Provision for (benefit from) nopn-U.S. income taxes - deferred
(386,000)
Total provision for (benefit from) nopn-U.S. income taxes
1,749,000
Provision for (benefit from) income taxes
2,619,000
Income (loss) from continuing operations
8,723,000
Income (loss) from discontinued operations, net of tax
5,000
Net income (loss)
8,728,000
Weighted average shares outstanding - basic
912,048
Weighted average shares outstanding - diluted
916,316
Year end shares outstanding
892,479
Earnings (loss) per share from continuing operations - basic
10
Earnings (loss) per share from discontinued operations - basic
0
Net earnings (loss) per share - basic
10
Earnings (loss) per share from continuing operations - diluted
10
Earnings (loss) per share from discontinued operations - diluted
0
Net earnings (loss) per share - diluted
10
Dividends per share of common stock
6
Total number of employees
350,600
Number of common stockholders
395,480
Foreign currency translation adjustments
(730,000)

28,000
83,000
3,891,000
(797,000)
3,094,000
5,642,000
5,758,000
(5,000)
5,753,000
932,828
937,386
922,179
6
6
6
6
366,600
408,697
152,000

12/31/2016
USD
Not Qualified
Yes
Thousands
51,268,000
26,942,000
1,710,000
79,919,000
34,021,000
6,559,000
1,044,000
41,625,000
38,294,000
16,971,000
1,327,000
1,038,000
742,000
503,000
401,000
87,000
21,069,000
5,751,000
1,631,000
116,000
(260,000)
108,000
(23,000)
(85,000)
145,000
630,000
25,964,000
3,650,000
8,680,000
12,330,000
186,000
(746,000)
(560,000)
244,000

(44,000)
200,000
988,000
(179,000)
809,000
449,000
11,881,000
(9,000)
11,872,000
955,423
958,714
945,867
12
(0)
12
12
(0)
12
380,300
425,272
(20,000)

IBM
Operating Income
Net Sales
COGS
Net Income
R & D Costs
Total Revenue
SG&A
PPE, Net
Inventory
Total Assets

2018
19,177,000
26,641,000
7,464,000
8,728,000
5,379,000
79,591,000
16,438,000
10,792,000
1,682,000
123,382,000

2017
19,459,000
26,715,000
7,256,000
5,753,000
5,787,000
79,139,000
16,568,000
11,116,000
1,583,000
125,356,000

2016
20,383,000
26,942,000
6,559,000
11,872,000
5,751,000
79,919,000
16,971,000
10,830,000
1,553,000
117,470,000

Microsoft
Operating Income
Net Sales
COGS
Net Income
R & D Costs
Total Revenue
SG&A
PPE, Net
Inventory
Total Assets

2018
35,058,000
64,497,000
15,420,000
16,571,000
14,726,000
110,360,000
22,223,000
29,460,000
2,662,000
258,848,000

2017
22,326,000
57,190,000
15,175,000
21,204,000
13,037,000
89,950,000
20,020,000
23,734,000
2,181,000
241,086,000

2016
20,182,000
61,502,000
17,880,000
16,798,000
11,988,000
85,320,000
19,260,000
18,356,000
2,251,000
193,694,000

Dell
Operating Income
Net Sales
COGS
Net Income (loss)
R & D Costs
Total Revenue
SG&A
PPE, Net
Inventory
Total Assets

2018
-191000
58,801,000
50,215,000
(3,855,000)
4,384,000
78,660,000
19,003,000
5,390,000
2,678,000
122,281,000

2017
-3,333,000
48,706,000
42,169,000
(1,718,000)
2,636,000
61,642,000
13,575,000
5,653,000
2,538,000
118,206,000

2016
-3,252,000
42,742,000
37,563,000
-1,104,000
1,051,000
50,911,000
7,850,000
1,649,000
1,619,000
45,122,000

Intel
Operating Income
Gross Margin
COGS
Net Income
R & D Costs
Total Revenue

2018
23,316,000
43,737,000
27,111,000
21,053,000
13,543,000
70,848,000

2017
17,936,000
39,069,000
23,692,000
9,601,000
13,098,000
62,761,000

20...

John_Best (4952)
Cornell University

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