CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 10,819	$ 13,587
Restricted cash	45	54
Marketable securities	964	830
Notes and accounts receivable — trade (net of allowances of $102 in 2026 and $99 in 2025)	6,493	8,112
Short-term financing receivables:
Held for investment (net of allowances of $100 in 2026 and $106 in 2025)	5,767	7,344
Held for sale	743	1,131
Other accounts receivable (net of allowances of $37 in 2026 and $37 in 2025)	1,242	1,052
Inventory, at lower of average cost or net realizable value:
Finished goods	268	230
Work in process and raw materials	1,208	990
Total inventory	1,476	1,220
Deferred costs	1,157	1,084
Prepaid expenses and other current assets	3,209	2,530
Total current assets	31,914	36,944
Property, plant and equipment	17,765	17,874
Less: Accumulated depreciation	11,985	11,975
Property, plant and equipment — net	5,781	5,899
Operating right-of-use assets — net	3,219	3,129
Long-term financing receivables (net of allowances of $27 in 2026 and $34 in 2025)	7,014	7,708
Prepaid pension assets	7,578	7,544
Deferred costs	831	825
Deferred taxes	8,552	8,610
Goodwill	74,709	67,717
Intangible assets — net	14,624	11,391
Investments and sundry assets	2,009	2,112
Total assets	156,229	151,880
Current liabilities:
Taxes	2,053	2,347
Short-term debt	8,655	6,424
Accounts payable	4,039	4,756
Compensation and benefits	3,941	4,114
Deferred income	17,034	16,101
Operating lease liabilities	798	800
Other accrued expenses and liabilities	3,582	4,116
Total current liabilities	40,101	38,658
Long-term debt	57,706	54,836
Retirement and nonpension postretirement benefit obligations	8,763	9,018
Deferred income	4,195	4,271
Operating lease liabilities	2,643	2,547
Other liabilities	9,767	9,810
Total liabilities	123,174	119,139
IBM stockholders’ equity:
Common stock	63,936	63,318
Retained earnings	155,327	155,648
Treasury stock - at cost	(170,874)	(170,605)
Accumulated other comprehensive income/(loss)	(15,415)	(15,713)
Total IBM stockholders’ equity	32,974	32,648
Noncontrolling interests	81	93
Total equity	33,056	32,740
Total liabilities and equity	$ 156,229	$ 151,880