CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 11,218	$ 8,172
Restricted cash	152	141
Marketable securities	647	696
Notes and accounts receivable - trade (net of allowances of $337 in 2020 and $299 in 2019)	6,927	7,870
Short-term financing receivables (net of allowances of $186 in 2020 and $188 in 2019)	12,126	14,192
Other accounts receivable (net of allowances of $28 in 2020 and $33 in 2019)	1,616	1,733
Inventories, at lower of average cost or net realizable value:
Finished goods	298	220
Work in process and raw materials	1,488	1,399
Total	1,786	1,619
Deferred costs	1,948	1,896
Prepaid expenses and other current assets	2,509	2,101
Total current assets	38,931	38,420
Property, plant and equipment	31,089	32,028
Less: Accumulated depreciation	21,464	22,018
Property, plant and equipment - net	9,626	10,010
Operating right-of-use assets - net	4,871	4,996
Long-term financing receivables (net of allowances of $52 in 2020 and $33 in 2019)	7,708	8,712
Prepaid pension assets	6,933	6,865
Deferred costs	2,459	2,472
Deferred taxes	8,782	5,182
Goodwill	57,517	58,222
Intangible assets - net	14,666	15,235
Investments and sundry assets	1,911	2,074
Total assets	153,403	152,186
Current liabilities:
Taxes	2,348	2,839
Short-term debt	11,642	8,797
Accounts payable	4,172	4,896
Compensation and benefits	3,029	3,406
Deferred income	13,377	12,026
Operating lease liabilities	1,327	1,380
Other accrued expenses and liabilities	4,777	4,357
Total current liabilities	40,673	37,701
Long-term debt	52,685	54,102
Retirement and nonpension postretirement benefit obligations	16,474	17,142
Deferred income	3,769	3,851
Operating lease liabilities	3,799	3,879
Other liabilities	15,874	14,526
Total liabilities	133,275	131,202
IBM stockholders' equity:
Common stock, par value $.20 per share, and additional paid-in capital; Shares authorized: 4,687,500,000; Shares issued: 2020-2,238,932,461; 2019-2,237,996,975	56,092	55,895
Retained earnings	162,626	162,954
Treasury stock, at cost; Shares: 2020-1,351,040,504; 2019-1,350,886,521	(169,437)	(169,413)
Accumulated other comprehensive income/(loss)	(29,283)	(28,597)
Total IBM stockholders' equity	19,999	20,841
Noncontrolling interests	129	144
Total equity	20,128	20,985
Total liabilities and equity	$ 153,403	$ 152,186