CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income		$ 231	$ 156
Adjustments to reconcile net income to cash provided by operating activities:
Provision for/(benefit from) credit losses		45	(4)
Depreciation		59	88
Deferred taxes		(49)	27
Net (gain)/loss on asset sales and other		(55)	(44)
Change in operating assets and liabilities:
Other assets/other liabilities		(117)	(198)
Net cash provided by operating activities		115	26
Cash flows from investing activities:
Originations of financing receivables		(5,914)	(6,872)
Collection of financing receivables		7,202	7,446
Proceeds from sales of financing receivables		715
Short-term financing receivables - net (1)	[1]	1,575	4,884
Purchase of equipment under operating leases		(23)	(29)
Proceeds from disposition of equipment under operating lease		38	32
Other receivables from IBM - net		(296)	1,697
Other investing activities - net		42	39
Net cash provided by investing activities		3,339	7,197
Cash flows from financing activities:
Distributions to IBM		(411)	(942)
Net cash used in financing activities		(3,415)	(7,318)
Effect of exchange rate changes on cash and cash equivalents		(9)	0
Net change in cash and cash equivalents		30	(96)
Cash and cash equivalents at beginning of period		1,687	1,828
Cash and cash equivalents at end of period		1,717	1,732
Debt
Cash flows from financing activities:
Proceeds from issuance of debt		419	500
Principal payments on debt		(674)	(431)
Short-term borrowings/(repayments) - net	[1]	(293)	(1,486)
Debt payable to IBM
Cash flows from financing activities:
Proceeds from issuance of debt		3,801	5,858
Principal payments on debt		(4,534)	(5,903)
Short-term borrowings/(repayments) - net	[1]	$ (1,723)	$ (4,914)

[1] Short-term represents original maturities of 90 days or less.