CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 11,569	$ 13,947
Restricted cash	30	214
Marketable securities	3,286	644
Notes and accounts receivable — trade (net of allowances of $116 in 2025 and $114 in 2024)	5,532	6,804
Short-term financing receivables:
Held for investment (net of allowances of $104 in 2025 and $109 in 2024)	5,156	6,259
Held for sale	745	900
Other accounts receivable (net of allowances of $38 in 2025 and $31 in 2024)	1,174	947
Inventory, at lower of average cost or net realizable value:
Finished goods	314	134
Work in process and raw materials	1,083	1,155
Total inventory	1,397	1,289
Deferred costs	1,113	959
Prepaid expenses and other current assets	2,739	2,520
Total current assets	32,740	34,482
Property, plant and equipment	18,058	17,691
Less: Accumulated depreciation	12,207	11,959
Property, plant and equipment — net	5,851	5,731
Operating right-of-use assets — net	3,223	3,197
Long-term financing receivables (net of allowances of $26 in 2025 and $19 in 2024)	6,258	5,353
Prepaid pension assets	8,044	7,492
Deferred costs	768	788
Deferred taxes	8,505	6,978
Goodwill	67,396	60,706
Intangible assets — net	11,729	10,660
Investments and sundry assets	1,796	1,787
Total assets	146,312	137,175
Current liabilities:
Taxes	1,663	2,033
Short-term debt	7,942	5,089
Accounts payable	3,867	4,032
Compensation and benefits	3,508	3,605
Deferred income	13,878	13,907
Operating lease liabilities	807	768
Other accrued expenses and liabilities	3,477	3,709
Total current liabilities	35,142	33,142
Long-term debt	55,174	49,884
Retirement and nonpension postretirement benefit obligations	9,735	9,432
Deferred income	3,863	3,622
Operating lease liabilities	2,646	2,655
Other liabilities	11,762	11,048
Total liabilities	118,322	109,783
IBM stockholders’ equity:
Common stock	62,819	61,380
Retained earnings	151,581	151,163
Treasury stock - at cost	(170,512)	(169,968)
Accumulated other comprehensive income/(loss)	(15,983)	(15,269)
Total IBM stockholders’ equity	27,905	27,307
Noncontrolling interests	85	86
Total equity	27,990	27,393
Total liabilities and equity	$ 146,312	$ 137,175