CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 1,717	$ 1,687
Equipment under operating leases (net of accumulated depreciation of $216 in 2020 and $238 in 2019)	154	212
Other receivables from IBM	792	513
Other assets	544	406
Total assets	25,389	28,412
Liabilities:
Accounts payable	404	434
Accounts payable to IBM	931	336
Debt	6,557	7,150
Debt payable to IBM	14,308	16,945
Taxes	600	637
Other liabilities	245	224
Total liabilities	23,046	25,726
Member's interest:
Member's interest	2,496	2,601
Retained earnings		116
Accumulated other comprehensive income/(loss)	(153)	(31)
Total member's interest	2,343	2,686
Total liabilities and member's interest	25,389	28,412
Financing Receivable Portfolio
Assets:
Financing receivables	14,084	17,365
Financing receivables from IBM
Assets:
Financing receivables	3,735	3,870
Purchased and participated receivables from IBM
Assets:
Financing receivables	$ 4,362	$ 4,359