CONSOLIDATED STATEMENT OF FINANCIAL POSITION - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 8,393	$ 8,476
Marketable securities	367	0
Notes and accounts receivable - trade (net of allowances of $364 in 2015 and $336 in 2014)	8,632	9,090
Short-term financing receivables (net of allowances of $528 in 2015 and $452 in 2014)	16,888	19,835
Other accounts receivable (net of allowances of $52 in 2015 and $40 in 2014)	2,390	2,906
Inventories, at lower of average cost or market:
Finished goods	364	430
Work in process and raw materials	1,548	1,674
Total inventories	1,912	2,103
Deferred taxes	2,133	2,044
Prepaid expenses and other current assets	4,470	4,967
Total current assets	45,186	49,422
Property, plant and equipment	38,639	39,034
Less: Accumulated depreciation	27,936	28,263
Property, plant and equipment - net	10,702	10,771
Long-term financing receivables (net of allowances of $122 in 2015 and $126 in 2014)	10,339	11,109
Prepaid pension assets	3,440	2,160
Deferred taxes	4,211	4,808
Goodwill	30,535	30,556
Intangible assets - net	2,938	3,104
Investments and sundry assets	5,377	5,603
Total assets	112,729	117,532
Current liabilities:
Taxes	3,639	5,084
Short-term debt	5,329	5,731
Accounts payable	5,943	6,864
Compensation and benefits	3,991	4,031
Deferred income	11,332	11,877
Other accrued expenses and liabilities	5,301	6,013
Total current liabilities	35,535	39,600
Long-term debt	33,339	35,073
Retirement and nonpension postretirement benefit obligations	17,298	18,261
Deferred income	3,892	3,691
Other liabilities	8,827	8,892
Total liabilities	98,892	105,518
IBM stockholders' equity:
Common stock, par value $0.20 per share, and additional paid-in capital; Shares authorized: 4,687,500,000 (Shares issued: 2015 - 2,219,139,271; 2014 - 2,215,209,574)	53,059	52,666
Retained earnings	141,218	137,793
Treasury stock - at cost (Shares: 2015 - 1,239,609,443; 2014 - 1,224,685,815)	(153,162)	(150,715)
Accumulated other comprehensive income/(loss)	(27,432)	(27,875)
Total IBM stockholders' equity	13,684	11,868
Noncontrolling interests	153	146
Total equity	13,837	12,014
Total liabilities and equity	$ 112,729	$ 117,532

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.