Equity Activity

3 Months Ended

Mar. 31, 2020

Equity Activity

Equity Activity

11. Equity Activity:

IBM Credit had no unrealized gains or (losses) on cash flow hedges and gains and losses on available-for-sale securities were immaterial during the periods presented in the following tables:

Reclassifications and Taxes Related to Items of Other Comprehensive Income

(Dollars in millions)	Before Tax		Tax (Expense)/		Net of Tax
For the three months ended March 31, 2020:	Amount		Benefit		Amount
Other comprehensive income/(loss):
Foreign currency translation adjustments	$	(156)	$	(17)	$	(174)
Retirement-related benefit plans (1):
Net (losses)/gains arising during the period	$	0	$	0	$	0
Curtailments and settlements		—		—		—
Amortization of prior service (credits)/costs		0		0		0
Amortization of net (gains)/losses		1		0		1
Total retirement-related benefit plans	$	1	$	0	$	1
Other comprehensive income/(loss)	$	(155)	$	(17)	$	(173)

(1) These accumulated other comprehensive income (AOCI) components are included in the computation of net periodic pension cost. (See note 13, "Retirement-Related Benefits," for additional information.)

Reclassifications and Taxes Related to Items of Other Comprehensive Income

(Dollars in millions)	Before Tax		Tax (Expense)/		Net of Tax
For the three months ended March 31, 2019:	Amount		Benefit		Amount
Other comprehensive income/(loss):
Foreign currency translation adjustments	$	3	$	3	$	6
Retirement-related benefit plans (1):
Net (losses)/gains arising during the period	$	0	$	0	$	0
Curtailments and settlements		—		—		—
Amortization of prior service (credits)/costs		0		0		0
Amortization of net (gains)/losses		0		0		0
Total retirement-related benefit plans	$	0	$	0	$	0
Other comprehensive income/(loss)	$	3	$	3	$	6

(1) These AOCI components are included in the computation of net periodic pension cost. (See note 13, "Retirement-Related Benefits," for additional information.)

Accumulated Other Comprehensive Income/(Loss) (net of tax)

			Net Change
	Foreign		Retirement-		Accumulated
	Currency		Related		Other
	Translation		Benefit		Comprehensive
(Dollars in millions)	Adjustments*		Plans		Income/(Loss)
January 1, 2020	$	(12)	$	(19)	$	(31)
Other comprehensive income before reclassification		(174)		0		(174)
Amount reclassified from accumulated other comprehensive income		—		1		1
Total change for the period		(174)		1		(173)
March 31, 2020	$	(186)	$	(18)	$	(204)

*     Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.

			Net Change
	Foreign		Retirement-		Accumulated
	Currency		Related		Other
	Translation		Benefit		Comprehensive
(Dollars in millions)	Adjustments*		Plans		Income/(Loss)
January 1, 2019	$	(23)	$	(10)	$	(33)
Other comprehensive income before reclassification		6		0		6
Amount reclassified from accumulated other comprehensive income		—		0		0
Total change for the period		6		0		6
March 31, 2019	$	(17)	$	(10)	$	(27)

*    Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.