During the first quarter of 2020, the company realigned offerings and the related management system to reflect divestitures completed in the second half of 2019 and tighter integration of certain industry-related consulting services. Accordingly, the company updated its Cloud & Cognitive Software segment, Global Business Services segment and the Other – divested businesses category in the first quarter of 2020 and recast the related historical information for consistency with the go-forward performance. Total recast revenue for full-year 2019 was approximately $0.3 billion of IBM’s total $77 billion. There was no change to the Global Technology Services, Systems or Global Financing segments, and there was no impact to IBM’s consolidated results. The following table displays the segment updates:

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Reconciliations to IBM as Reported:


(Dollars in millions)
For the three months ended September 30:	2020		2019
Revenue:
Total reportable segments	$	19,193	$	19,427	*
Other — divested businesses		4		83	*
Other revenue		46		59
Eliminations of internal transactions		(1,683)		(1,541)
Total consolidated revenue	$	17,560	$	18,028

Pre-tax income from continuing operations:
Total reportable segments	$	2,962	$	2,661	*
Amortization of acquired intangible assets		(459)		(473)
Acquisition-related (charges)/income		(1)		(255)
Non-operating retirement-related (costs)/income		(291)		(145)
Eliminations of internal transactions		(158)		(84)
Other — divested businesses		(20)		(25)	*
Unallocated corporate amounts		(206)		(157)
Total pre-tax income from continuing operations	$	1,827	$	1,522

* Recast to conform to current period presentation.

SEGMENT INFORMATION


	Cloud &			Global			Global
	Cognitive			Business			Technology						Global			Total
(Dollars in millions)	Software			Services			Services			Systems			Financing			Segments
For the nine months ended September 30, 2020:
External revenue	$	16,540		$	11,992		$	19,245		$	4,477		$	837		$	53,090
Internal revenue		2,431			150			911			628			660			4,780
Total revenue	$	18,971		$	12,142		$	20,155		$	5,106		$	1,497		$	57,870
Pre-tax income/(loss) from continuing operations	$	4,475		$	1,203		$	471		$	(7)		$	566		$	6,708
Revenue year-to-year change		6.2	%		(4.6)	%		(5.3)	%		0.3	%		(24.5)	%		(1.8)	%
Pre-tax income/(loss) year-to-year change		(11.9)	%		4.2	%		(53.0)	%		(93.6)	%		(29.5)	%		(15.5)	%
Pre-tax income/(loss) margin		23.6	%		9.9	%		2.3	%		(0.1)	%		37.8	%		11.6	%

For the nine months ended September 30, 2019:
External revenue	$	15,731	*	$	12,513	*	$	20,412		$	4,562		$	1,100		$	54,317	*
Internal revenue		2,135			213			879			528			884			4,638
Total revenue	$	17,865	*	$	12,726	*	$	21,291		$	5,091		$	1,983		$	58,956	*
Pre-tax income/(loss) from continuing operations	$	5,082	*	$	1,154	*	$	1,000		$	(101)		$	803		$	7,938	*
Pre-tax income/(loss) margin		28.4	%*		9.1	%*		4.7	%		(2.0)	%		40.5	%		13.5	%*

Reconciliations to IBM as Reported:


(Dollars in millions)
For the nine months ended September 30:	2020		2019
Revenue:
Total reportable segments	$	57,870	$	58,956	*
Other — divested businesses		36		863	*
Other revenue		127		190
Eliminations of internal transactions		(4,780)		(4,638)
Total consolidated revenue	$	53,253	$	55,370

Pre-tax income from continuing operations:
Total reportable segments	$	6,708	$	7,938	*
Amortization of acquired intangible assets		(1,404)		(816)
Acquisition-related (charges)/income		(3)		(396)
Non-operating retirement-related (costs)/income		(829)		(419)
Eliminations of internal transactions		(334)		(233)
Other — divested businesses		(17)		480	*
Unallocated corporate amounts		(773)		(380)
Total pre-tax income from continuing operations	$	3,348	$	6,173

* Recast to conform to current period presentation.