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Segments (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Revenue and Pre-tax Income by Segment
($ in millions)
For the year ended December 31:SoftwareConsulting Infrastructure Financing Total
Segments
2023
Revenue$26,308 $19,985 $14,593 $741 $61,627 
Pre-tax income from continuing operations6,571 1,918 2,421 374 11,283 
Revenue year-to-year change5.1 %4.6 %(4.5)%14.8 %2.6 %
Pre-tax income year-to-year change6.6 %14.4 %7.0 %10.1 %8.1 %
Pre-tax income margin25.0 %9.6 %16.6 %50.5 %18.3 %
2022
Revenue$25,037 $19,107 $15,288 $645 $60,077 
Pre-tax income from continuing operations6,162 1,677 2,262 340 10,441 
Revenue year-to-year change6.9 %7.1 %7.8 %(16.6)%6.8 %
Pre-tax income year-to-year change27.1 %15.7 %11.7 %(22.9)%19.1 %
Pre-tax income margin24.6 %8.8 %14.8 %52.6 %17.4 %
2021
Revenue$23,426 $17,844 $14,188 $774 $56,231 
Pre-tax income from continuing operations4,849 1,449 2,025 441 8,765 
Reconciliation of segment revenue and pre-tax income to IBM as reported
($ in millions) 
For the year ended December 31:202320222021
Revenue
Total reportable segments$61,627 $60,077 $56,231 
Other—divested businesses(2)318 785 
Other revenue235 135 335 
Total revenue$61,860 $60,530 $57,350 
($ in millions)  
For the year ended December 31:2023 20222021
Pre-tax income from continuing operations
Total reportable segments$11,283 $10,441 $8,765 
Amortization of acquired intangible assets(1,627)(1,747)(1,838)
Acquisition-related charges(33)(18)(43)
Non-operating retirement-related (costs)/income (1)
39 (6,548)(1,282)
Kyndryl-related impacts (2)
— (351)118 
Workforce rebalancing charges (3)
(435)— — 
Other—divested businesses5 91 (102)
Unallocated corporate amounts and other(541)(712)(782)
Total pre-tax income from continuing operations$8,690 $1,156 $4,837 
(1)2022 includes a one-time, non-cash, pre-tax pension settlement charge of $5.9 billion. See note V, “Retirement-Related Benefits,” for additional information.
(2)Net impacts for Kyndryl retained shares and related swaps. Refer to note E, “Acquisitions & Divestitures," and note T, "Derivative Financial Instruments," for additional information.
(3)Beginning in the first quarter of 2023, the company updated its measure of segment pre-tax income, consistent with its management system, to no longer allocate workforce rebalancing charges to its reportable segments. Workforce rebalancing charges of $40 million and $182 million for 2022 and 2021, respectively, were included in the segments.
Assets and Other Items by segment
($ in millions)
For the year ended December 31:SoftwareConsultingInfrastructureFinancingTotal
Segments
2023
Assets$61,141 $14,342 $11,991 $14,409 $101,883 
Depreciation/amortization of intangibles 526 106 1,018 8 1,659 
Capital expenditures/investments in intangibles385 20 836 15 1,255 
2022
Assets$57,186 $13,481 $12,243 $15,757 $98,667 
Depreciation/amortization of intangibles (1)
564 108 1,250 14 1,936 
Capital expenditures/investments in intangibles446 33 853 27 1,359 
2021
Assets$58,420 $11,914 $11,766 $16,880 $98,980 
Depreciation/amortization of intangibles (1)
598 97 1,257 49 2,001 
Capital expenditures/investments in intangibles559 55 792 33 1,439 
(1)    Recast to conform to 2023 presentation to remove amortization of acquired intangible assets.
Reconciliation of assets to IBM as reported
($ in millions)
At December 31:20232022
Assets
Total reportable segments$101,883 $98,667 
Elimination of internal transactions(1,028)(1,062)
Other—divested businesses 19 100 
Unallocated amounts
Cash and marketable securities12,907 8,138 
Deferred tax assets6,468 6,078 
Plant, other property and equipment1,838 1,760 
Operating right-of-use assets2,085 1,586 
Pension assets7,506 8,236 
  Other (1)
3,563 3,740 
Total IBM consolidated assets$135,241 $127,243 
(1)Prior period has been reclassified to conform to the change in 2023 presentation.
Geographic Information
The following tables provide information for those countries that are 10 percent or more of the specific category.
Revenue (1)
($ in millions) 
For the year ended December 31:202320222021
United States$25,309 $25,098 $22,893 
Other countries (2)
36,551 35,432 34,457 
Total revenue$61,860 $60,530 $57,350 
(1)Revenues are attributed to countries based on the location of the client.
(2)Prior periods reclassified to conform to the changes in 2023 presentation.

Plant and Other Property–Net (1)
($ in millions) 
At December 31:202320222021
United States$3,466 $3,209 $3,375 
Other countries2,027 2,100 2,293 
Total$5,492 $5,308 $5,668 
(1)Excludes rental machines.
Operating Right-of-Use Assets–Net
($ in millions) 
At December 31:202320222021
United States$1,249 $1,074 $1,148 
Japan340 259 398 
Other countries1,631 1,545 1,676 
Total$3,220 $2,878 $3,222 
Revenue by Classes of Similar Products or Services
The following table presents external revenue for similar classes of products or services within the company’s reportable segments. Client solutions often include IBM software and systems and other suppliers’ products if the client solution requires it. For each of the segments that include services, Software-as-a-Service, consulting, education, training and other product-related services are included as services. For each of these segments, software includes product license charges and ongoing subscriptions.
($ in millions) 
For the year ended December 31:202320222021
Software
Software$22,483 $21,374 $19,845 
Services3,764 3,575 3,485 
Systems62 88 96 
Consulting
Services$19,691 $18,857 $17,563 
Software212 170 173 
Systems82 80 108 
Infrastructure
Maintenance$4,138 $4,590 $4,743 
Servers4,253 4,471 3,483 
Services2,463 2,653 2,616 
Storage2,081 1,989 1,919 
Software1,658 1,585 1,426 
Financing
Financing$680 $582 $628 
Used equipment sales$60 $64 $145