8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: January 24, 2022

(Date of earliest event reported)

INTERNATIONAL BUSINESS MACHINES CORPORATION

(Exact name of registrant as specified in its charter)

New York	1-2360	13-0871985
(State of Incorporation)	(Commission File Number)	(IRS employer Identification No.)

One New Orchard Road Armonk, New York	10504
(Address of principal executive offices)	(Zip Code)

914-499-1900

(Registrant’s telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Capital stock, par value $.20 per share	IBM	New York Stock Exchange
		NYSE Chicago
2.625% Notes due 2022	IBM 22A	New York Stock Exchange
1.250% Notes due 2023	IBM 23A	New York Stock Exchange
0.375% Notes due 2023	IBM 23B	New York Stock Exchange
1.125% Notes due 2024	IBM 24A	New York Stock Exchange
2.875% Notes due 2025	IBM 25A	New York Stock Exchange
0.950% Notes due 2025	IBM 25B	New York Stock Exchange
0.875% Notes due 2025	IBM 25C	New York Stock Exchange
0.300% Notes due 2026	IBM 26B	New York Stock Exchange
1.250% Notes due 2027	IBM 27B	New York Stock Exchange
0.300% Notes due 2028	IBM 28B	New York Stock Exchange
1.750% Notes due 2028	IBM 28A	New York Stock Exchange
1.500% Notes due 2029	IBM 29	New York Stock Exchange
1.750% Notes due 2031	IBM 31	New York Stock Exchange
0.650% Notes due 2032	IBM 32A	New York Stock Exchange
1.200% Notes due 2040	IBM 40	New York Stock Exchange
7.00% Debentures due 2025	IBM 25	New York Stock Exchange
6.22% Debentures due 2027	IBM 27	New York Stock Exchange
6.50% Debentures due 2028	IBM 28	New York Stock Exchange
7.00% Debentures due 2045	IBM 45	New York Stock Exchange
7.125% Debentures due 2096	IBM 96	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

The registrant’s press release dated January 24, 2022, regarding its financial results for the periods ended December 31, 2021, including consolidated financial statements for the periods ended December 31, 2021, is Exhibit 99.1 of this Form 8-K.

In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company has disclosed in the attached press release certain non-GAAP information which management believes provides useful information to investors. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in the press release, which is Exhibit 99.1 to this Form 8-K. The rationale for management’s use of non-GAAP measures is included in Exhibit 99.2 to this Form 8-K.

The information in this Item 2.02, including the corresponding Exhibits 99.1 and 99.2, is being furnished with the Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 7.01. Regulation FD Disclosure.

The slides for IBM’s Chairman and Chief Executive Officer Arvind Krishna and Chief Financial Officer Jim Kavanaugh’s fourth-quarter and full-year 2021 earnings presentation on January 24, 2022, are Exhibit 99.3 to this Form 8-K.

The information in this Item 7.01, including the corresponding Exhibit 99.3, is being furnished with the Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are being furnished as part of this report:

Exhibit No.	Description of Exhibit
99.1	Earnings Release of the Registrant, dated January 24, 2022
99.2	Non-GAAP Financial Information
99.3	Earnings Presentation of the Registrant, dated January 24, 2022

The following exhibit is being filed as part of this report:

Exhibit No.	Description of Exhibit
104	Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Date: January 24, 2022
	By:	/s/ Robert F. Del Bene
		Robert F. Del Bene
		Vice President and Controller

3

EX-99.1

Exhibit 99.1

IBM RELEASES FOURTH QUARTER RESULTS

Software and Consulting Growth Driven by Hybrid Cloud Adoption; Strong Profit Performance

ARMONK, N.Y., January 24, 2022 . . . IBM (NYSE: IBM) today announced fourth-quarter 2021 earnings results.

“We increased revenue in the fourth quarter with hybrid cloud adoption driving growth in software and consulting," said Arvind Krishna, IBM chairman and chief executive officer. "Our fourth-quarter results give us confidence in our ability to deliver our objectives of sustained mid-single digit revenue growth and strong free cash flow in 2022.”

On November 3, 2021, IBM completed the separation of Kyndryl. Unless otherwise specified, fourth-quarter and full-year results are presented on a continuing operations basis.

Fourth-Quarter Highlights

● Revenue

─ Revenue of $16.7 billion, up 6.5 percent, up 8.6 percent at constant currency (including about 3.5 points from incremental external sales to Kyndryl)

─ Software revenue up 8 percent, up 10 percent at constant currency (including about 5 points from incremental external sales to Kyndryl)

─ Consulting revenue up 13 percent, up 16 percent at constant currency

─ Infrastructure revenue flat, up 2 percent at constant currency (including about 5 points from incremental external sales to Kyndryl)

─ Hybrid cloud revenue:

-- Fourth Quarter: $6.2 billion, up 16 percent, up 18 percent at constant currency

-- Full Year: $20.2 billion, up 20 percent, up 19 percent at constant currency

● Pre-tax Income:

─ GAAP: $2.9 billion, up 183 percent, including 167 points from the impact of fourth-quarter 2020 charge for structural actions

─ Operating (Non-GAAP): $3.5 billion, up 102 percent, including 92 points from the impact of fourth-quarter 2020 charge for structural actions

	FOURTH QUARTER 2021 INCOME STATEMENT SUMMARY
										Pre-tax
					Gross			Pre-tax		Income			Net			Diluted
		Revenue			Profit			Income**		Margin**			Income**			EPS**
GAAP from Continuing Operations	$	16.7B		$	9.5B		$	2.9B		17.2	%	$	2.5B		$	2.72
Year/Year		6.5	%*		2.8	%		183	%	10.7	Pts		107	%		106	%
Operating (Non-GAAP)	$			$	9.7B		$	3.5B		21.2	%	$	3.0B		$	3.35
Year/Year					2.8	%		102	%	10.0	Pts		80	%		78	%

* 8.6% at constant currency

** Year-to-year results include impact of $1.5 billion pre-tax charge for structural actions in fourth quarter of 2020

“In 2021, we continued to invest for the future by increasing R&D spending, expanding our ecosystem and acquiring 15 companies to strengthen our hybrid cloud and AI capabilities," said James Kavanaugh, IBM senior vice president and chief financial officer. "With the separation of Kyndryl we now have taken the next step in the evolution of our strategy, creating value through focus and strengthening our financial profile.”

Segment Results for Fourth Quarter

● Software (includes Hybrid Platform & Solutions, Transaction Processing)— revenues of $7.3 billion, up 8.2 percent, up 10.1 percent at constant currency (including about 5 points from incremental external sales to Kyndryl):

- Hybrid Platform & Solutions up 7 percent, up 9 percent at constant currency (including about 1 point from incremental external sales to Kyndryl):

-- Red Hat up 19 percent, up 21 percent at constant currency

-- Automation up 13 percent, up 15 percent at constant currency

-- Data & AI up 1 percent, up 3 percent at constant currency

-- Security down 2 percent, down 1 percent at constant currency

- Transaction Processing up 11 percent, up 14 percent at constant currency (including about 16 points from incremental external sales to Kyndryl)

- Software segment hybrid cloud revenue up 22 percent, up 24 percent at constant currency

● Consulting (includes Business Transformation, Technology Consulting and Application Operations)— revenues of $4.7 billion, up 13.1 percent, up 15.7 percent at constant currency:

- Business Transformation up 18 percent, up 20 percent at constant currency

- Technology Consulting up 14 percent, up 19 percent at constant currency

- Application Operations up 6 percent, up 8 percent at constant currency

- Consulting segment hybrid cloud revenue up 31 percent, up 34 percent at constant currency

● Infrastructure (includes Hybrid Infrastructure, Infrastructure Support)— revenues of $4.4 billion, down 0.2 percent, up 1.7 percent at constant currency (including about 5 points from incremental external sales to Kyndryl):

- Hybrid Infrastructure flat, up 2 percent at constant currency (including about 4 points from incremental external sales to Kyndryl)

-- IBM Z down 6 percent, down 4 percent at constant currency

-- Distributed Infrastructure up 5 percent, up 7 percent at constant currency

- Infrastructure Support down 1 percent, up 1 percent at constant currency (including about 6 points from incremental external sales to Kyndryl)

- Infrastructure segment hybrid cloud revenue down 12 percent, down 11 percent at constant currency

● Financing (includes client and commercial financing)— revenues of $0.2 billion, down 29.4 percent, down 28.8 percent at constant currency

Cash Flow and Balance Sheet

On a consolidated basis, full-year cash from operating activities was $12.8 billion and free cash flow was $6.5 billion. These consolidated results include ten months of Kyndryl results, and reflect cash paid in 2021 for separation charges and fourth-quarter 2020 structural actions.

IBM’s post-separation baseline free cash flow for the year was $7.9 billion excluding Kyndryl charges and pre-separation activity. This view is aligned to the company’s go-forward business. Payments for IBM-related structural actions and deferred cash taxes paid in 2021 contributed to the year-to-year decline in the post-separation baseline free cash flow.

IBM ended the year with $7.6 billion of cash on hand (which includes marketable securities), down $6.7 billion from year-end 2020, reflecting acquisitions of $3.3 billion and debt reduction payments consistent with the company’s previously-stated intention to deleverage. Debt, including Financing debt of $13.9 billion, totaled $51.7 billion, down $9.6 billion since the end of 2020, and down more than $21 billion since closing the Red Hat acquisition. The company returned $5.9 billion to shareholders in dividends.

Full-Year 2022 Expectations

The company will discuss 2022 expectations during today’s quarterly earnings conference call.

Continuing Operations

With the separation completed on November 3, 2021, Kyndryl’s operational activity has been reclassified to IBM’s discontinued operations results in accordance with U.S. Generally Accepted Accounting Principles (GAAP). As discussed in previous communications, discontinued operations does not include historical intercompany transactions between IBM and Kyndryl (e.g., purchases of IBM hardware and software) which were previously eliminated in consolidation. It also does not include the spending for shared services (e.g., finance, marketing, human resources, global sales coverage) that has already been transferred to Kyndryl. IBM results on a continuing operations basis after separation reflect the new commercial relationship with Kyndryl and do not include shared services costs, which have been transferred to Kyndryl.

Forward-Looking and Cautionary Statements

Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; a failure of the company’s innovation initiatives; damage to the company’s reputation; risks from investing in growth opportunities; failure of the company’s intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; the company’s ability to successfully manage acquisitions, alliances and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities, and higher debt levels; fluctuations in financial results; impact of local legal, economic, political, health and other conditions; the company’s failure to meet growth and productivity objectives; ineffective internal controls; the company’s use of accounting estimates; impairment of the company’s goodwill or amortizable intangible assets; the company’s ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product quality issues; impacts of business with government clients; reliance on third party distribution channels and ecosystems; cybersecurity and data privacy considerations; adverse effects from environmental matters, tax matters; legal proceedings and investigatory risks; the company’s pension plans; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company’s Form 10-Qs, Form 10-K and in the company’s other filings with the U.S. Securities and Exchange Commission or in materials incorporated therein by reference. Any forward-looking statement in this release speaks only as of the date on which it is made. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements.

Presentation of Information in this Press Release

In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors:

IBM results —

● adjusting for currency (i.e., at constant currency);

● presenting operating (non-GAAP) earnings per share amounts and related income statement items;

● consolidated free cash flow;

● post-separation baseline free cash flow.

The rationale for management’s use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8-K that includes this press release and is being submitted today to the SEC.

Conference Call and Webcast

IBM’s regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EST, today. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-4q21. Presentation charts will be available shortly before the Webcast.

Financial Results Below (certain amounts may not add due to use of rounded numbers; percentages presented are calculated from the underlying whole-dollar amounts).

Contact:	IBM
	Sarah Meron, 347-891-1770
	sarah.meron@ibm.com
	Tim Davidson, 914-844-7847
	tfdavids@us.ibm.com

INTERNATIONAL BUSINESS MACHINES CORPORATION

COMPARATIVE FINANCIAL RESULTS

(Unaudited; Dollars in millions except per share amounts)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2021			2020			2021			2020
REVENUE
Software	$	7,273		$	6,719		$	24,141		$	22,927
Consulting		4,746			4,196			17,844			16,257
Infrastructure		4,414			4,425			14,188			14,533
Financing		172			244			774			975
Other		89			98			404			488
TOTAL REVENUE		16,695			15,682			57,350			55,179
GROSS PROFIT		9,500			9,238			31,486			30,865
GROSS PROFIT MARGIN
Software		80.9	%		80.5	%		78.8	%		78.3	%
Consulting		27.0	%		29.7	%		28.0	%		29.3	%
Infrastructure		54.8	%		60.1	%		55.3	%		57.5	%
Financing		32.5	%		36.0	%		31.7	%		41.6	%
TOTAL GROSS PROFIT MARGIN		56.9	%		58.9	%		54.9	%		55.9	%
EXPENSE AND OTHER INCOME
S,G&A		4,903			6,256			18,745			20,561
R,D&E		1,625			1,592			6,488			6,262
Intellectual property and custom development income		(181)			(171)			(612)			(620)
Other (income) and expense		(18)			230			873			802
Interest expense		303			317			1,155			1,288
TOTAL EXPENSE AND OTHER INCOME		6,632			8,224			26,649			28,293
INCOME/(LOSS) FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES		2,869			1,014			4,837			2,572
Pre-tax margin		17.2	%		6.5	%		8.4	%		4.7	%
Provision for/(Benefit from) income taxes		407			(175)			124			(1,360)
Effective tax rate		14.2	%		(17.3)	%		2.6	%		(52.9)	%
INCOME FROM CONTINUING OPERATIONS	$	2,462		$	1,190		$	4,712		$	3,932
DISCONTINUED OPERATIONS
Income/(Loss) from discontinued operations, net of taxes		(129)			166			1,030			1,658
NET INCOME	$	2,332		$	1,356		$	5,743		$	5,590
EARNINGS/(LOSS) PER SHARE OF COMMON STOCK
Assuming Dilution
Continuing Operations	$	2.72		$	1.32		$	5.21		$	4.38
Discontinued Operations	$	(0.14)		$	0.19		$	1.14		$	1.85
TOTAL	$	2.57		$	1.51		$	6.35		$	6.23
Basic
Continuing Operations	$	2.74		$	1.33		$	5.26		$	4.42
Discontinued Operations	$	(0.14)		$	0.19		$	1.15		$	1.86
TOTAL	$	2.60		$	1.52		$	6.41		$	6.28
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (M’s)
Assuming Dilution		906.6			899.0			904.6			896.6
Basic		898.2			892.6			896.0			890.3

INTERNATIONAL BUSINESS MACHINES CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEET

(Unaudited)

	At		At
	December 31,		December 31,
(Dollars in Millions)	2021		2020
ASSETS:
Current Assets:
Cash and cash equivalents	$	6,650	$	13,188
Restricted cash		307		463
Marketable securities		600		600
Notes and accounts receivable - trade, net		6,754		5,790
Short-term financing receivables, net		8,014		10,892
Other accounts receivable, net		1,002		695
Inventories		1,649		1,812
Deferred costs		1,097		1,018
Prepaid expenses and other current assets		3,466		2,089
Current assets of discontinued operations		—		2,618
Total Current Assets		29,539		39,165
Property, plant and equipment, net		5,694		6,205
Operating right-of-use assets, net		3,222		3,566
Long-term financing receivables, net		5,425		7,086
Prepaid pension assets		9,850		7,557
Deferred costs		924		1,150
Deferred taxes		7,370		8,404
Goodwill		55,643		53,765
Intangibles, net		12,511		13,739
Investments and sundry assets		1,823		2,187
Non-current assets of discontinued operations		—		13,147
Total Assets	$	132,001	$	155,971
LIABILITIES:
Current Liabilities:
Taxes	$	2,289	$	3,198
Short-term debt		6,787		7,116
Accounts payable		3,955		4,033
Deferred income		12,518		11,980
Operating lease liabilities		974		1,035
Other liabilities		7,097		8,688
Current liabilities of discontinued operations		—		3,820
Total Current Liabilities		33,619		39,869
Long-term debt		44,917		54,217
Retirement related obligations		14,435		17,184
Deferred income		3,577		3,758
Operating lease liabilities		2,462		2,720
Other liabilities		13,996		14,180
Non-current liabilities of discontinued operations		—		3,317
Total Liabilities		113,005		135,244
EQUITY:
IBM Stockholders’ Equity:
Common stock		57,319		56,556
Retained earnings		154,209		162,717
Treasury stock — at cost		(169,392)		(169,339)
Accumulated other comprehensive income/(loss)		(23,234)		(29,337)
Total IBM Stockholders’ Equity		18,901		20,597
Noncontrolling interests		95		129
Total Equity		18,996		20,727
Total Liabilities and Equity	$	132,001	$	155,971

INTERNATIONAL BUSINESS MACHINES CORPORATION

CASH FLOW ANALYSIS

(Unaudited)

	Three Months Ended				Year Ended
	December 31,				December 31,
(Dollars in Millions)	2021		2020		2021		2020
Consolidated Net Cash from Operations per GAAP	$	2,543	$	5,859	$	12,796	$	18,197
Less: change in IBM Financing receivables		(1,328)		(974)		3,907		4,349
Capital Expenditures, net		(526)		(780)		(2,381)		(3,042)
Consolidated Free Cash Flow		3,345		6,054		6,508		10,805
Acquisitions		(275)		(299)		(3,293)		(336)
Divestitures		88		(7)		114		503
Dividends		(1,474)		(1,455)		(5,869)		(5,797)
Non-IBM Financing debt		(20)		(4,814)		(1,191)		221
Other (includes IBM Financing net receivables and debt)*		(2,514)		(958)		(2,987)		(130)
Change in Cash, Cash Equivalents, Restricted Cash and Short-term Marketable Securities**	$	(850)	$	(1,478)	$	(6,718)	$	5,265

* The three months and year ended December 31, 2021 include distribution from Kyndryl of $0.9 billion.

** Cash flows above are presented on an IBM consolidated basis and therefore include an immaterial amount of cash and cash equivalents presented in current assets of discontinued operations in the IBM Condensed Consolidated Balance Sheet at December 31, 2020.

INTERNATIONAL BUSINESS MACHINES CORPORATION

CASH FLOW

(Unaudited)

	Three Months Ended				Year Ended
	December 31,				December 31,
(Dollars in Millions)	2021		2020		2021		2020
Net Income from Operations	$	2,332	$	1,356	$	5,743	$	5,590
Depreciation/Amortization of Intangibles		1,380		1,699		6,416		6,695
Stock-based Compensation		264		279		982		937
Working Capital / Other		(105)		3,499		(4,253)		625
IBM Financing A/R		(1,328)		(974)		3,907		4,349
Net Cash Provided by Operating Activities	$	2,543	$	5,859	$	12,796	$	18,197
Capital Expenditures, net of payments & proceeds		(526)		(780)		(2,381)		(3,042)
Divestitures, net of cash transferred		88		(7)		114		503
Acquisitions, net of cash acquired		(275)		(299)		(3,293)		(336)
Marketable Securities / Other Investments, net		38		528		(414)		(153)
Net Cash Provided by/(Used in) Investing Activities	$	(675)	$	(558)	$	(5,975)	$	(3,028)
Debt, net of payments & proceeds		(2,030)		(4,781)		(8,116)		(3,714)
Dividends		(1,474)		(1,455)		(5,869)		(5,797)
Financing - Other*		811		(57)		630		(210)
Net Cash Provided by/(Used in) Financing Activities	$	(2,692)	$	(6,293)	$	(13,354)	$	(9,721)
Effect of Exchange Rate changes on Cash		(26)		113		(185)		(87)
Net Change in Cash, Cash Equivalents and Restricted Cash**	$	(850)	$	(878)	$	(6,718)	$	5,361

* Represents Common Stock Transactions and other financing activities. The three months and year ended December 31, 2021 include distribution from Kyndryl of $0.9 billion.

** Cash flows above are presented on an IBM consolidated basis and therefore include an immaterial amount of cash and cash equivalents presented in current assets of discontinued operations in the IBM Condensed Consolidated Balance Sheet at December 31, 2020.

INTERNATIONAL BUSINESS MACHINES CORPORATION

SEGMENT DATA

(Unaudited)

	Three Months Ended December 31, 2021
(Dollars in Millions)	Software			Consulting			Infrastructure			Financing
Revenue	$	7,273		$	4,746		$	4,414		$	172
Pre-tax Income/(Loss) from Continuing Operations		2,109			436			1,036			79
Pre-tax Margin		29.0	%		9.2	%		23.5	%		46.0	%
Change YTY Revenue		8.2	%		13.1	%		(0.2)	%		(29.4)	%
Change YTY Revenue - constant currency		10.1	%		15.7	%		1.7	%		(28.8)	%

	Three Months Ended December 31, 2020
(Dollars in Millions)	Software			Consulting			Infrastructure			Financing
Revenue	$	6,719		$	4,196		$	4,425		$	244
Pre-tax Income/(Loss) from Continuing Operations		1,151			62			629			110
Pre-tax Margin		17.1	%		1.5	%		14.2	%		45.1	%

	Year Ended December 31, 2021
(Dollars in Millions)	Software			Consulting			Infrastructure			Financing
Revenue	$	24,141		$	17,844		$	14,188		$	774
Pre-tax Income/(Loss) from Continuing Operations		4,722			1,449			2,025			441
Pre-tax Margin		19.6	%		8.1	%		14.3	%		57.0	%
Change YTY Revenue		5.3	%		9.8	%		(2.4)	%		(20.6)	%
Change YTY Revenue - constant currency		4.1	%		8.3	%		(3.4)	%		(21.9)	%

	Year Ended December 31, 2020
(Dollars in Millions)	Software			Consulting			Infrastructure			Financing
Revenue	$	22,927		$	16,257		$	14,533		$	975
Pre-tax Income/(Loss) from Continuing Operations		3,341			1,034			1,654			449
Pre-tax Margin		14.6	%		6.4	%		11.4	%		46.1	%

INTERNATIONAL BUSINESS MACHINES CORPORATION

U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION

(Unaudited; Dollars in millions except per share amounts)

	Three Months Ended December 31, 2021
	Continuing Operations
				Acquisition-			Retirement-			Tax			Kyndryl-
				Related			Related			Reform			Related			Operating
	GAAP			Adjustments (1)			Adjustments (2)			Impacts			Impacts (4)			(Non-GAAP)
Gross Profit	$	9,500		$	182		$	—		$	—		$	—		$	9,682
Gross Profit Margin		56.9	%		1.1	Pts		—	Pts		—	Pts		—	Pts		58.0	%
S,G&A		4,903			(290)			—			—			(8)			4,605
Other (Income) & Expense		(18)			(1)			(315)			—			126			(208)
Total Expense & Other (Income)		6,632			(290)			(315)			—			118			6,145
Pre-tax Income from Continuing Operations		2,869			472			315			—			(118)			3,537
Pre-tax Income Margin from Continuing Operations		17.2	%		2.8	Pts		1.9	Pts		—	Pts		(0.7)	Pts		21.2	%
Provision for/(Benefit from) Income Taxes (3)		407			117			109			(94)			(37)			502
Effective Tax Rate		14.2	%		1.4	Pts		1.8	Pts		(2.7)	Pts		(0.6)	Pts		14.2	%
Income from Continuing Operations		2,462			355			206			94			(81)			3,035
Income Margin from Continuing Operations		14.7	%		2.1	Pts		1.2	Pts		0.6	Pts		(0.5)	Pts		18.2	%
Diluted Earnings/(Loss) Per Share: Continuing Operations	$	2.72		$	0.39		$	0.23		$	0.10		$	(0.09)		$	3.35

	Three Months Ended December 31, 2020
	Continuing Operations
				Acquisition-			Retirement-			Tax			Kyndryl-
				Related			Related			Reform			Related			Operating
	GAAP			Adjustments (1)			Adjustments (2)			Impacts			Impacts (4)			(Non-GAAP)
Gross Profit	$	9,238		$	176		$	—		$	—		$	—		$	9,414
Gross Profit Margin		58.9	%		1.1	Pts		—	Pts		—	Pts		—	Pts		60.0	%
S,G&A		6,256			(283)			—			—			—			5,973
Other (Income) & Expense		230			(1)			(278)			—			—			(49)
Total Expense & Other (Income)		8,224			(283)			(278)			—			—			7,662
Pre-tax Income/(Loss) from Continuing Operations		1,014			459			278			—			—			1,752
Pre-tax Income Margin from Continuing Operations		6.5	%		2.9	Pts		1.8	Pts		—	Pts		—	Pts		11.2	%
Provision for/(Benefit from) Income Taxes (3)		(175)			102			156			(18)			—			66
Effective Tax Rate		(17.3)	%		10.4	Pts		11.7	Pts		(1.0)	Pts		—	Pts		3.7	%
Income from Continuing Operations		1,190			357			122			18			—			1,686
Income Margin from Continuing Operations		7.6	%		2.3	Pts		0.8	Pts		0.1	Pts		—	Pts		10.8	%
Diluted Earnings/(Loss) Per Share: Continuing Operations	$	1.32		$	0.40		$	0.14		$	0.02		$	—		$	1.88

(1)  Includes amortization of purchased intangible assets, in process R&D, transaction costs, applicable restructuring and related expenses, tax charges related to acquisition integration and pre-closing charges, such as financing costs.

(2)  Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan curtailments/settlements and pension insolvency costs and other costs.

(3)  Tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to the As Reported pre-tax income under ASC 740, which employs an annual effective tax rate method to the results.

(4) Primarily relates to fair value changes in shares of Kyndryl common stock that were retained by IBM, employee awards, and separation related tax impacts.

INTERNATIONAL BUSINESS MACHINES CORPORATION

U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION

(Unaudited; Dollars in millions except per share amounts)

	Year Ended December 31, 2021
	Continuing Operations
				Acquisition-			Retirement-			Tax			Kyndryl-
				Related			Related			Reform			Related			Operating
	GAAP			Adjustments (1)			Adjustments (2)			Impacts			Impacts (4)			(Non-GAAP)
Gross Profit	$	31,486		$	719		$	—		$	—		$	—		$	32,205
Gross Profit Margin		54.9	%		1.3	Pts		—	Pts		—	Pts		—	Pts		56.2	%
S,G&A		18,745			(1,160)			—			—			(8)			17,577
Other (Income) & Expense		873			(2)			(1,282)			—			126			(285)
Total Expense & Other (Income)		26,649			(1,162)			(1,282)			—			118			24,324
Pre-tax Income from Continuing Operations		4,837			1,881			1,282			—			(118)			7,881
Pre-tax Income Margin from Continuing Operations		8.4	%		3.3	Pts		2.2	Pts		—	Pts		(0.2)	Pts		13.7	%
Provision for/(Benefit from) Income Taxes (3)		124			457			251			(89)			(37)			706
Effective Tax Rate		2.6	%		5.2	Pts		2.8	Pts		(1.1)	Pts		(0.4)	Pts		9.0	%
Income from Continuing Operations		4,712			1,424			1,031			89			(81)			7,174
Income Margin from Continuing Operations		8.2	%		2.5	Pts		1.8	Pts		0.2	Pts		(0.1)	Pts		12.5	%
Diluted Earnings/(Loss) Per Share: Continuing Operations	$	5.21		$	1.57		$	1.14		$	0.10		$	(0.09)		$	7.93

	Year Ended December 31, 2020
	Continuing Operations
				Acquisition-			Retirement-			Tax			Kyndryl-
				Related			Related			Reform			Related			Operating
	GAAP			Adjustments (1)			Adjustments (2)			Impacts			Impacts (4)			(Non-GAAP)
Gross Profit	$	30,865		$	726		$	—		$	—		$	—		$	31,591
Gross Profit Margin		55.9	%		1.3	Pts		—	Pts		—	Pts		—	Pts		57.3	%
S,G&A		20,561			(1,117)			—			—			—			19,445
Other (Income) & Expense		802			(2)			(1,073)			—			—			(273)
Total Expense & Other (Income)		28,293			(1,119)			(1,073)			—			—			26,101
Pre-tax Income from Continuing Operations		2,572			1,845			1,073			—			—			5,490
Pre-tax Income Margin from Continuing Operations		4.7	%		3.3	Pts		1.9	Pts		—	Pts		—	Pts		9.9	%
Provision for/(Benefit from) Income Taxes (3)		(1,360)			411			208			110			—			(630)
Effective Tax Rate		(52.9)	%		25.3	Pts		14.1	Pts		2.0	Pts		—	Pts		(11.5)	%
Income from Continuing Operations		3,932			1,434			864			(110)			—			6,120
Income Margin from Continuing Operations		7.1	%		2.6	Pts		1.6	Pts		(0.2)	Pts		—	Pts		11.1	%
Diluted Earnings/(Loss) Per Share: Continuing Operations	$	4.38		$	1.60		$	0.96		$	(0.12)		$	—		$	6.82

(1)  Includes amortization of purchased intangible assets, in process R&D, transaction costs, applicable restructuring and related expenses, tax charges related to acquisition integration and pre-closing charges, such as financing costs.

(2)  Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan curtailments/settlements and pension insolvency costs and other costs.

(3)  Tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to the As Reported pre-tax income under ASC 740, which employs an annual effective tax rate method to the results.

(4) Primarily relates to fair value changes in shares of Kyndryl common stock that were retained by IBM, employee awards, and separation related tax impacts.

INTERNATIONAL BUSINESS MACHINES CORPORATION

U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION

(Unaudited; Dollars in billions)

		Year Ended
IBM post-separation baseline Free Cash Flow Reconciliation		December 31, 2021
Consolidated Net Cash from Operations per GAAP	$	12.8
Less: change in Financing receivables		3.9
Capital Expenditures, net		(2.4)
Consolidated Free Cash Flow		6.5
Less: Kyndryl charges and pre-separation activity*		(1.4)	*
IBM post-separation baseline Free Cash Flow		7.9

* Includes Kyndryl portion of cash impacts incurred in the period related to structural actions initiated in 4Q20 and separation related costs. Kyndryl's estimated free cash flow was deemed immaterial.

EX-99.2

Exhibit 99.2

Non-GAAP Financial Information

Operating (non-GAAP) Earnings Per Share and Related Income Statement Items

In an effort to provide better transparency into the operational results of the business, supplementally, the company separates business results into operating and non-operating categories. Operating earnings from continuing operations is a non-GAAP measure that excludes the effects of certain acquisition-related charges, intangible asset amortization, expense resulting from basis differences on equity method investments, retirement-related costs, certain impacts from the Kyndryl separation and related tax effects. Due to the unique, non-recurring nature of the enactment of the U.S. Tax Cuts and Jobs Act (U.S. tax reform), the company characterizes the one-time provisional charge recorded in the fourth quarter of 2017 and adjustments to that charge as non-operating. Adjustments include true-ups, accounting elections and any changes to regulations, laws, audit adjustments, etc. that affect the recorded one-time charge. Management also characterizes direct and incremental charges incurred related to the Kyndryl separation as non-operating given their unique and non-recurring nature. These charges include applicable employee awards and tax impacts related to the separation. Given its unique and temporary nature, management has also characterized the unrealized gain on Kyndryl common stock recorded in other (income) and expense in the Consolidated Income Statement as non-operating. The gain reflects fair value changes in the shares that were retained by the company immediately following the separation, with the intent to dispose of such shares within twelve months after the distribution. For acquisitions, operating (non-GAAP) earnings exclude the amortization of purchased intangible assets and acquisition-related charges such as in-process research and development, transaction costs, applicable retention, restructuring and related expenses, tax charges related to acquisition integration and pre-closing charges, such as financing costs. These charges are excluded as they may be inconsistent in amount and timing from period to period and are significantly impacted by the size, type and frequency of the company’s acquisitions. All other spending for acquired companies is included in both earnings from continuing operations and in operating (non-GAAP) earnings. For retirement-related costs, the company characterizes certain items as operating and others as non-operating, consistent with GAAP. The company includes defined benefit plan and nonpension postretirement benefit plan service costs, multi-employer plan costs and the cost of defined contribution plans in operating earnings. Non-operating retirement-related costs include defined benefit plan and nonpension postretirement benefit plan amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan curtailments/settlements and pension insolvency costs and other costs. Non-operating retirement- related costs are primarily related to changes in pension plan assets and liabilities which are tied to financial market performance, and the company considers these costs to be outside of the operational performance of the business.

Overall, the company believes that supplementally providing investors with a view of operating earnings as described above provides increased transparency and clarity into both the operational results of the business and the performance of the company’s pension plans; improves visibility to management decisions and their impacts on operational performance; enables better comparison to peer companies; and allows the company to provide a long-term strategic view of the business going forward. The company’s reportable segment financial results reflect pre-tax operating earnings from continuing operations, consistent with the company’s management and measurement system. In addition, these non-GAAP measures provide a perspective consistent with areas of interest the company routinely receives from investors and analysts.

Consolidated Free Cash Flow / Post-separation baseline Free Cash Flow

The company uses free cash flow as a measure to evaluate its operating results, plan shareholder return levels, strategic investments and assess its ability and need to incur and service debt. The entire free cash flow amount is not necessarily available for discretionary expenditures. The company defines consolidated free cash flow as consolidated net cash from operating activities less the change in Financing receivables and net capital expenditures, including the investment in software. A key objective of the Financing business is to generate strong returns on equity, and our Financing receivables are the basis for growth. Accordingly, management considers Financing receivables as a profit-generating investment, not as working capital that should be minimized for efficiency. Therefore, management presents free cash flow excluding the effect of Financing receivables. Since the company views Financing receivables as a profit-generating investment which it seeks to maximize, it is not considered when formulating guidance for free cash flow. As a result, the company does not estimate a GAAP consolidated net cash from operations expectation metric.

IBM post-separation baseline free cash flow refers to the company’s consolidated free cash flow adjusted for Kyndryl’s cash impacts of the structural actions (primarily workforce reduction) initiated in the fourth quarter of 2020 and the direct and incremental cash impacts of the Kyndryl separation. This amount includes the cash impact of IBM structural actions. IBM post-separation baseline free cash flow is viewed as useful information for management and shareholders as this measure is more aligned with the company’s on-going business operations.

Constant Currency

When the company refers to growth rates at constant currency or adjusts such growth rates for currency, it is done so that certain financial results can be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of its business performance. Financial results adjusted for currency are calculated by translating current period activity in local currency using the comparable prior year period’s currency conversion rate. This approach is used for countries where the functional currency is the local currency. Generally, when the dollar either strengthens or weakens against other currencies, the growth at constant currency rates or adjusting for currency will be higher or lower than growth reported at actual exchange rates.

Performance Metrics

Key performance metrics are used to monitor the performance of the business and are viewed as useful decision-making information for management and shareholders.

Annual Recurring Revenue (ARR)

ARR is a key performance metric management uses to assess the health and growth trajectory of the Hybrid Platform & Solutions sub-segment within IBM Software. ARR is calculated by estimating the current quarter's recurring, committed value for certain types of active contracts as of the period-end date and then multiplying that value by four. This value is based on each arrangement's contract value and start date, mitigating fluctuations during the contract term, and includes the following consumption models: (1) software subscription agreements, including committed term licenses, (2) as-a-service arrangements (SaaS and PaaS) (3) maintenance and support contracts, (4) and security managed services contracts. ARR should be viewed independently of revenue as this performance metric and its inputs may not represent the amount of revenue recognized in the period and therefore is not intended to represent current period revenue or revenue that will be recognized in future periods.

Book-to-bill

Represents the ratio of IBM Consulting signings to its revenue over the same period. The metric is a useful indicator of the demand of our business over time. This definition should be read in conjunction with the signings definition below.

Signings

Signings are management’s initial estimate of the value of a client’s commitment under a services contract within IBM Consulting. There are no third-party standards or requirements governing the calculation of signings. The calculation used by management involves estimates and judgments to gauge the extent of a client’s commitment, including the type and duration of the agreement and the presence of termination charges or wind-down costs.

Contract extensions and increases in scope are treated as signings only to the extent of the incremental new value. Total signings can vary over time due to a variety of factors including, but not limited to, the timing of signing a small number of larger contracts. Signings associated with an acquisition will be recognized on a prospective basis.

Management believes the estimated values of signings disclosed provide an indication of our forward-looking revenue. Signings are used to monitor the performance of the business and viewed as useful information for management and shareholders. The conversion of signings into revenue may vary based on the types of services and solutions, contract duration, customer decisions, and other factors, which may include, but are not limited to, the macroeconomic environment.

Hybrid Cloud Revenue

IBM defines and measures end-to-end cloud capabilities within hybrid cloud environments, which includes technology (software and hardware), services and solutions to enable clients to implement cloud solutions across public, private and multi-clouds. The definition of hybrid cloud revenue is consistent with the prior methodology for cloud revenue historically presented. This spans across IBM’s Consulting, Software and Infrastructure segments. Examples include (but are not limited to):

● Software: Red Hat Enterprise Linux (RHEL), Red Hat OpenShift, Cloud Paks, SaaS, PaaS

● Consulting: services engagements related to cloud deployment of technology and applications

● Infrastructure: infrastructure used in cloud deployments, IBM IaaS, infrastructure sold to cloud service providers

EX-99.3

Exhibit 99.3

IBM 4Q 2021 Earnings January 24, 2022 ibm.com/investor

Forward Looking Statements and Non-GAAP Information Certain comments made in this presentation may be characterized as forward looking under the PrivateSecurities Litigation Reform Act of 1995. Forward -looking statements are based on the company’s current assumptions regarding future business and financial performance. Those statements by their nature address matters that are uncertain to different degrees. Those statements involve a number of factors that could cause actual results to differ materially. Additional information concerning these factors is contained in the Company’s filings with the SEC. Copies are available from the SEC, from the IBM website, or from IBM Investor Relations. Any forward -looking statement made during this presentation speaks only as of the date on which it is made. The company assumes no obligation to update or revise any forward-looking statements except as required by law; these charts and the associated remarks and comments are integrally related and are intended to be presented and understood together. Unless otherwise specified, results are presented on a continuing operation basis. In an effort to provide additional and useful information regarding the company’s financial results and other financial information as determined by generally accepted accounting principles (GAAP), the company also discusses, in its earnings press release and presentation materials, certain non-GAAP information including operating earnings and other “operating” financial measures, consolidated free cash flow, including post-separation baseline free cash flow, net cash from operating activities excluding IBM Financing receivables, and adjustments for currency. The rationale for management ’s use of this non-GAAP information is included as Exhibit 99.2 to the company’s Form 8 -K submitted to the SEC on January 24, 2022. The reconciliation of non-GAAP information to GAAP is included on the slides entitled “Non-GAAP Supplemental Materials” in this presentation, as well as in Exhibit 99.1 to the company’s Form 8-K submitted to the SEC on January 24, 2022. To provide better transparency, the company also discusses management performance metrics including hybrid cloud revenue, annual recurring revenue, signings, and book-to-bill. The metrics are used to monitor the performance of the business and are viewed as useful decision-making information for management and stakeholders. The rationale for management’s use of these performance metrics and their calculation are included in Exhibit 99.2 to the company’s Form 8-K furnished with the SEC on January 24, 2022. For other related information please visit the Company’s investor relations website at: https://www.ibm.com/investor/events/earnings-4q21 2

Arvind Krishna Chairman and Chief Executive Officer James Kavanaugh SVP, Finance & Operations, Chief Financial Officer 3

CEO Perspective “We increased revenue in the fourth quarter with hybrid cloud adoption driving growth in software and consulting. 4Q21 Performance Our fourth-quarter results give us confidence in our ability to deliver our objectives of sustained mid-single digit revenue growth and strong free cash flow in 2022.” Hybrid Cloud and AI Progress Clients, Ecosystems and Innovation - Arvind Krishna, IBM Chairman and CEO 4

Hybrid Cloud & AI Our Platform Approach Progress Accelerating client adoption of hybrid cloud & AI IBM Software Leveraging partner ecosystem Delivering innovation and enhancing portfolio 5 Enterprise Infrastructure Public Clouds IBM Infrastructure Edge Red Hat Hybrid Cloud Platform IBM Consulting System Integrator Partners Software and SaaS Partners

9% revenue growth incl. ~3.5pts from incremental sales to Kyndryl >70% revenue mix in software and consulting $20B hybrid cloud revenue (TTM), +19% yr/yr $7.9B 2021 post-separation baseline free cash flow $7.6B cash on hand, $10B debt reduction (TTM) 6 Financial Highlights 4Q21 $16.7B $3.5B RevenuePre-tax income (Operating) “In 2021 we continued to invest for the future by increasing R&D spending, expanding our ecosystem and acquiring 15 companies to strengthen our hybrid cloud and AI capabilities. With the separation of Kyndryl we now have taken the next step in the evolution of our strategy, creating value through focus and strengthening our financial profile.” – James Kavanaugh, IBM SVP & CFO Revenue growth @CC

Software Revenue $7.3B Revenue Growth +10% includes ~5 pts from incremental sales to Kyndryl Hybrid Platform & Solutions led by Red Hat, Automation and Data & AI Over 3,800 clients using hybrid cloud platform Revenue Categories Annual Recurring Revenue* over $13B, +8% yr/yr Hybrid Platform & Solutions +9% yr/yr ~1 pts incremental Kyndryl Transaction Processing +14% yr/yr ~16 pts incremental Kyndryl Red Hat Automation Data & AI Security 21% 15% 3% (1%) 4Q21 Results; Revenue growth rates @CC *Annual Recurring Revenue for Hybrid Platform & Solutions 7

Consulting Revenue $4.7B Revenue Growth +16% Hybrid cloud revenue +34% yr/yr driven by digital transformations Book-to-bill ratio of 1.2x Revenue Categories Continued Red Hat momentum, with 150 new client engagements Business Transformation +20% yr/yr Application Operations +8% yr/yr Competitive labor environment Technology Consulting +19% yr/yr 4Q21 Results; Revenue growth rates @CC 8

Infrastructure Revenue $4.4B Revenue Growth +2% includes ~5 pts from incremental sales to Kyndryl IBM Z good performance in tenth quarter of z15 availability Distributed Infrastructure growth driven by storage Revenue Categories New segment structure improves hardware platform lifecycle management Hybrid Infrastructure +2% yr/yr ~4 pts incremental Kyndryl Infrastructure Support +1% yr/yr ~6 pts incremental Kyndryl IBM Z Distributed Infrastructure (4%) 7% 4Q21 Results; Revenue growth rates @CC 9

Executing on a Hybrid Cloud and AI Strategy ƒ Optimizing portfolio, including Kyndryl separation ƒ Revenue growth and free cash flow in line with mid-term model Increasing investments in skills, innovation, ecosystem Increasing focus and agility to better serve our clients Mid-single digit revenue growth @cc plus ~3 pts from incremental sales to Kyndryl Free cash flow of $10 - $10.5 billion ƒ ƒ ƒ ƒ Improving Growth Profile Higher Operating Margin Strong Free Cash Flow Higher ROIC * * * 10 2022 Expectations 2021 Actions Position IBM for Long-Term

ibm.com/investor

Supplemental Materials ●Revenue and P&L Highlights ●Cash Flow and Balance Sheet Highlights ●Currency – Impact on Revenue Growth ●Software & Infrastructure Segment Details ●Consulting Segment Details ●Expense Summary ●Balance Sheet Summary ●Cash Flow Summary ●Cash Flow (ASC 230) ●Retirement-Related Summary IBM New Segment Structure Software Segment Revenue Categories Consulting Segment Revenue Categories Infrastructure Segment Revenue Categories Performance Metrics IBM Historical Financials – adjusted for Segment changes Non-GAAP Supplemental Materials ● ● ● ● ● ● ● Unless otherwise specified, results are presented on a continuing operations basis. Some columns and rows in these materials, including the supplemental exhibits, may not add due to rounding Supplemental Materials 12

Revenue and P&L Highlights B/(W) Yr/Yr B/(W) Yr/Yr incr. KD benefit Revenue Highlights 4Q21 Operating P&L Highlights $ 4Q21 ~3.5 pts ~1 pts Gross Profit Expense Pre-Tax Income Net Income Earnings Per Share $9.7 $6.1 $3.5 $3.0 $3.35 3% 20% * 102% * 80% * 78% * B/(W) Yr/Yr Revenue Hybrid Cloud $16.7 $6.2 9% 18% B/(W) Yr/Yr incr. KD benefit Geography Revenue 4Q21 ~2 pts ~4 pts ~6 pts Americas Europe/ME/Africa Asia Pacific $8.1 $5.3 $3.3 7% 7% 16% Operating P&L Highlights % 4Q21 Gross Profit Margin Expense E/R Pre-Tax Income Margin Net Income Margin Tax Rate 58.0% 36.8% 21.2% 18.2% 14.2% (2.0 pts) 12.1 pts * 10.0 pts * 7.4 pts * (10.4 pts) Revenue growth rates @CC, $ in billions *Yr/Yr reflects ($1.5B) pre-tax charge for structural actions in 4Q20 Supplemental Materials 13

Cash Flow and Balance Sheet Highlights Cash Flow 4Q21 Yr/Yr FY21 Balance Sheet Dec 21 Dec 20 Consolidated Net Cash from Operations* $3.9 ($3.0) $8.9 Cash & Marketable Securities $7.6 $14.3 Consolidated Free Cash Flow** $3.3 ($2.7) $6.5 Total Debt $51.7 $61.5 Post-separation baseline Free Cash Flow*** $7.9 Selected Uses of Cash Selected Debt Measures Net Capital Expenditures $0.5 $2.4 IBM Financing Debt $13.9 $21.1 Acquisitions $0.3 $3.3 Core (non-IBM Financing) Debt $37.8 $40.4 Dividends $1.5 $5.9 $ in billions *Non-GAAP financial measure; excludes Financing receivables **Non-GAAP financial measure; adjusts for Financing receivables and net capital expenditures ***Non-GAAP financial measure; adjusts for Kyndryl charges and pre-separation activity Supplemental Materials 14

Currency – Impact on Revenue Growth Revenue Impact, Future @ 1/21/22 Spot Prior View @ 10/19/21 Spot (2 pts) (2-1 pts) ~(3 pts) ~(2 pts) ~(3 pts) ~(2 pts) ~(2 pts) ~0 pts ~(2 pts) US$B Yr/Yr Revenue As Reported Currency Impact Revenue @CC $16.7 ($0.3) 6.5% (2 pts) 8.6% Supplemental Materials 15 Quarterly Averages per US $ 4Q21 Yr/Yr 1/21/2022 Spot 1Q22 2Q22 3Q22 4Q22 FY22 Euro 0.87 (4%) Pound 0.74 2% Yen 114 (9%) 0.88 0.74 114 (6%) (6%) (4%) (1%) (4%) (2%) (3%) (2%) 1% (1%) (8%) (4%) (3%) 0% (4%)

Software & Infrastructure Segment Details Includes incremental sales to Kyndryl B/(W) Yr/Yr B/(W) Yr/Yr Infrastructure Segment 4Q21 Software Segment 4Q21 Revenue Hybrid Platform & Solutions Transaction Processing Pre-Tax Income impact of structural actions Pre-Tax Income Margin impact of structural actions Hybrid Cloud Revenue $7.3 $5.1 $2.1 $2.1 $0.0 29.0% 0 pts $2.7 10% 9% 14% 83% 66 pts 11.9 pts 10 pts 24% Revenue Hybrid Infrastructure Infrastructure Support Pre-Tax Income impact of structural actions Pre-Tax Income Margin impact of structural actions Hybrid Cloud Revenue $4.4 $2.9 $1.5 $1.0 $0.0 23.5% 0 pts $1.3 2% 2% 1% 65% 65 pts 9.2 pts 9 pts (11%) Revenue growth rates @CC, $ in billions Supplemental Materials 16

Consulting Segment Details B/(W) Consulting Segment 4Q21 Yr/Yr Revenue Business Transformation Technology Consulting Application Operations Gross Profit Margin (External) Pre-Tax Income impact of structural actions Pre-Tax Income Margin impact of structural actions Hybrid Cloud Revenue $4.7 $2.2 $0.9 $1.6 27.0% $0.4 $0.0 9.2% 0 pts $2.2 16% 20% 19% 8% (2.7 pts) 605% 609 pts 7.7 pts 9 pts 34% Signings 6% $5.7 Revenue & Signings growth rates @CC, $ in billions Supplemental Materials 17

Expense Summary $ in billions *Yr/Yr reflects impact of ($1.5B) charge for structural actions in 4Q20 **includes acquisitions in the last twelve months net of non-operating acquisition-related charges and includes impact of divested businesses ***represents the percentage change after excluding the impact of currency, acquisitions and divestitures Supplemental Materials 18 B/(W) Expense 4Q21 Yr/Yr Acq/ Currency Divest**Base*** SG&A – Operating$4.6 23% impact of structural actions* $0.0 26 pts RD&E$1.6 (2%) IP and Custom Development Income ($0.2) 6% Other (Income)/Expense - Operating ($0.2) NM Interest Expense $0.3 4% Operating Expense & Other Income $6.1 20% impact of structural actions * $0.0 19 pts 1 pts (2 pts)23 pts 26 pts 0 pts (2 pts)0 pts 3 pts (1 pts)18 pts 19 pts

Balance Sheet Summary Consolidated Dec 21 Dec 20 Cash & Marketable Securities Core (non-IBM Financing) Assets* IBM Financing Assets Total Assets $7.6 $108.9 $15.5 $132.0 $14.3 $118.6 $23.1 $156.0 Other Liabilities Core (non-IBM Financing) Debt* IBM Financing Debt Total Debt Total Liabilities Equity $61.3 $37.8 $13.9 $51.7 $113.0 $19.0 $73.7 $40.4 $21.1 $61.5 $135.2 $20.7 $ in billions *includes eliminations of inter-company activity Supplemental Materials 19

Cash Flow Summary Consolidated B/(W) Yr/Yr B/(W) Yr/Yr 4Q21 FY21 Net Cash from Operations Less: IBM Financing Receivables Net Cash from Operations (excluding IBM Financing Receivables) Net Capital Expenditures Free Cash Flow (excluding IBM Financing Receivables) Acquisitions Divestitures Dividends Non-IBM Financing Debt Other (includes IBM Financing Net A/R & IBM Financing Debt)* Change in Cash & Marketable Securities $2.5 ($1.3) $3.9 ($0.5) $3.3 ($0.3) $0.1 ($1.5) ($0.0) ($2.5) ($0.8) ($3.3) ($0.4) ($3.0) $0.3 ($2.7) $0.0 $0.1 ($0.0) $4.8 ($1.6) $0.6 $12.8 $3.9 $8.9 ($2.4) $6.5 ($3.3) $0.1 ($5.9) ($1.2) ($3.0) ($6.7) ($5.4) ($0.4) ($5.0) $0.7 ($4.3) ($3.0) ($0.4) ($0.1) ($1.4) ($2.9) ($12.0) $ in billions *4Q21 and FY21 include distribution from Kyndryl of $0.9B Supplemental Materials 20

Cash Flow (ASC Consolidated 230) 4Q21 4Q20 FY21 FY20 Net Income from Operations Depreciation / Amortization of Intangibles Stock-based Compensation Working Capital / Other IBM Financing A/R Net Cash provided by Operating Activities Capital Expenditures, net of payments & proceeds Divestitures, net of cash transferred Acquisitions, net of cash acquired Marketable Securities / Other Investments, net Net Cash provided by/(used in) Investing Activities Debt, net of payments & proceeds Dividends Common Stock Repurchases Financing - Other* Net Cash provided by/(used in) Financing Activities Effect of Exchange Rate changes on Cash Net Change in Cash, Cash Equivalents & Restricted Cash $2.3 $1.4 $0.3 ($0.1) ($1.3) $2.5 ($0.5) $0.1 ($0.3) $0.0 ($0.7) ($2.0) ($1.5) - $0.8 ($2.7) ($0.0) ($0.8) $1.4 $1.7 $0.3 $3.5 ($1.0) $5.9 ($0.8) ($0.0) ($0.3) $0.5 ($0.6) ($4.8) ($1.5) - ($0.1) ($6.3) $0.1 ($0.9) $5.7 $6.4 $1.0 ($4.3) $3.9 $12.8 ($2.4) $0.1 ($3.3) ($0.4) ($6.0) ($8.1) ($5.9) - $0.6 ($13.4) ($0.2) ($6.7) $5.6 $6.7 $0.9 $0.6 $4.3 $18.2 ($3.0) $0.5 ($0.3) ($0.2) ($3.0) ($3.7) ($5.8) - ($0.2) ($9.7) ($0.1) $5.4 $ in billions *4Q21 and FY21 include distribution from Kyndryl of $0.9B Supplemental Materials 21

Retirement-Related Summary Expected *Qualified defined benefit plans ** Actual ROA not restated for Kyndryl spin-off *** includes cash and non-cash contributions Supplemental Materials 22 Key Assumptions and Metrics2020 2021 2022 Cost and Contributions2021 2022 Funded Status at Year end* US108% 112% WW103% 107% Discount Rate at Year end US2.2% 2.6% WW1.5% 2.0% Expected ROA at Prior Year end US4.5% 3.8% 4.0% WW4.0% 3.4% 3.6% Actual ROA** US12.2% 2.0% WW 9.6% 3.0% $ in billions Operating Cost1.3 1.2 Non-operating Cost1.3 0.9 Total Cost2.6 2.1 Contributions***2.1 2.1

IBM New Segment Structure Supplemental Materials 23

Software Segment Revenue Categories Revenue Categories Revenue Categories – FY 2021 Hybrid Platform & Solutions Software, infused with AI, to help clients operate, manage, and optimize their IT resources and business processes within hybrid, multi -cloud environments Red Hat: incl. RHEL, OpenShift, Ansible Automation: incl. business automation, AIOps and management, integration, and application servers Data & AI: incl. data fabric, customer care, data management, business analytics, dataops & governance, asset & supply chain management, information exchange and weather Security: incl. software and services for threat, data and identity Hybrid Platform & Solutions Red Hat Transaction Processing Automation Security Data & AI Transaction Processing Software that supports clients’ mission-critical on-premise workloads in industries such as banking, airlines and retail incl. transaction processing software such as Customer Information Control System and storage software, and analytics and integration software running on IBM operating systems (e.g., DB2 and WebSphere running on z/OS) Supplemental Materials 24

Consulting Segment Revenue Categories Revenue Categories Revenue Categories – FY 2021 Business Transformation Services that enable clients to apply technologies at scale to transform key workflows, processes and domains end-to-end incl. finance & supply chain, talent, strategy, business process design and operations, data and analytics, and system integration These services deploy AI in business processes to exploit the value of data incl. a full ecosystem of partners: SAP, Adobe, Salesforce and Oracle, among others Business Transformation Technology Co nsulti ng Application Operati ons Technology Consulting The skills to architect and implement cloud platforms and strategies to transform enterprise experience and enable innovation, including application modernization on the hybrid cloud with Red Hat OpenShift Application Operations Application and cloud platform services required to operationalize and run cloud platforms Manage, optimize, and orchestrate application and data workloads across environments through both custom applications and ISV/ERP packages Supplemental Materials 25

Infrastructure Segment Revenue Categories Revenue Categories Revenue Categories – FY 2021 Hybrid Infrastructure Innovative infrastructure platforms to help meet the new requirements of hybrid multi-cloud and enterprise AI workloads leveraging flexible and as-a-service consumption models IBM Z: incl. hardware and operating system Distributed Infrastructure: incl. Power hardware and operating system, storage hardware, IBM Cloud IaaS, OEM asset recovery service Hybrid Infrastructure IBM Z Infrastructure Support Infrastructure Support Comprehensive, proactive and AI enabled services to maintain and improve the availability and value of clients’ IT infrastructure (hardware and software) both on-premises and in the cloud incl. maintenance for IBM products and other technology platforms Distributed nfrastructure Supplemental Materials 26

Performance Metrics Annual Recurring Revenue (ARR) ARR represents the annualized recurring, committed value for certain types of active contracts within the following consumption models: (1) software subscription agreements, including committed term licenses, (2) as -a-service arrangements (SaaS and PaaS), (3) maintenance and support contracts, (4) and security managed services contracts. Book-to-bill Represents the ratio of IBM Consulting signings to its revenue over the same period. Signings Signings represent the initial estimated value of a client’s commitment under a services contract within IBM Consulting. Hybrid Cloud Revenue IBM defines and measures end-to-end cloud capabilities within hybrid cloud environments, which includes technology (software and hardware), services and solutions to enable clients to implement cloud solutions across public, private and multi-clouds. The definition of hybrid cloud revenue is consistent with the prior methodology for cloud revenue historically presented. For additional details, see Exhibit 99.2 included in the company’s Form 8-K dated January 24, 2022. Supplemental Materials 27

IBM Historical Financials – adjusted for Segment changes IBM Segment Revenue, Pre-Tax Income & PTI Margins Adjusted for Segment Changes This information complements historical data included in the company's 8-K furnished with the SEC on December 27, 2021. Unaudited, ($ = M) SOFTWARE SEGMENT Revenue Segment Pre-Tax Income Pre-Tax Income Margin % CONSULTING SEGMENT Revenue Segment Pre-Tax Income Pre-Tax Income Margin % INFRASTRUCTURE SEGMENT Revenue Segment Pre-Tax Income Pre-Tax Income Margin % FINANCING SEGMENT Revenue Segment Pre-Tax Income Pre-Tax Income Margin % 50.4% 44.3% 44.0% 45.1% Historical Continuing Operations results do not represent IBM's go-forward Continuing Operations profile. Supplemental Materials 28 1Q'20 2Q'20 3Q'20 4Q'20 FY'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'21 5,128 5,640 5,440 6,719 167 1,009 1,014 1,151 3.2% 17.9% 18.6% 17.1% 4,158 3,908 3,995 4,196 186 287 500 62 4.5% 7.3% 12.5% 1.5% 3,276 3,704 3,128 4,425 62 600 363 629 1.9% 16.2% 11.6% 14.2% 260 231 240 244 131 102 106 110 22,927 3,341 14.6% 16,257 1,034 6.4% 14,533 1,654 11.4% 975 449 46.1% 5,316 5,973 5,578 7,273 641 1,019 952 2,109 12.1% 17.1% 17.1% 29.0% 4,262 4,378 4,457 4,746 277 270 466 436 6.5% 6.2% 10.5% 9.2% 3,293 3,560 2,921 4,414 292 489 209 1,036 8.9% 13.7% 7.1% 23.5% 208 209 184 172 98 131 132 79 47.0% 63.0% 71.7% 46.0% 24,141 4,722 19.6% 17,844 1,449 8.1% 14,188 2,025 14.3% 774 441 57.0%

Non-GAAP Supplemental Materials Reconciliation of Revenue Performance - 4Q 2021 4Q21 Yr/Yr 4Q21 Yr/Yr GAAP @CC GAAP @CC Software Hybrid Platform & Solutions Red Hat Automation Data & AI Security Transaction Processing Hybrid Cloud 8% 7% 19% 13% 1% (2%) 11% 22% 10% 9% 21% 15% 3% (1%) 14% 24% Consulting Business Transformation Technology Consulting Application Operations Hybrid Cloud 13% 18% 14% 6% 31% 16% 20% 19% 8% 34% Infrastructure Hybrid Infrastructure IBM Z Distributed Infrastructure Infrastructure Support Hybrid Cloud Flat Flat (6%) 5% (1%) (12%) 2% 2% (4%) 7% 1% (11%) The above reconciles the Non-GAAP financial information contained in the “Software”, “Consulting”, “Infrastructure”, “Software & Infrastructure Segment Details”, “Consulting Segment Details”, and “Prepared Remarks” discussions in the company’s earnings presentation. See Exhibit 99.2 included in the company’s Form 8-K dated January 24, 2022, for additional information on the use of these Non-GAAP financial measures. Supplemental Materials 29

Non-GAAP Supplemental Materials Reconciliation of Revenue Performance – 4Q 2021 4Q21 Yr/Yr GAAP @CC Total Revenue 6% 9% Americas Europe/ME/Africa Asia Pacific 7% 4% 11% 7% 7% 16% Total Hybrid Cloud 16% 18% The above reconciles the Non-GAAP financial information contained in the “Financial Highlights”, “Revenue and P&L Highlights”, and “Prepared Remarks” discussions in the company’s earnings presentation. See Exhibit 99.2 included in the company’s Form 8 -K dated January 24, 2022, for additional information on the use of these Non-GAAP financial measures. Supplemental Materials 30

Non-GAAP Supplemental Materials Reconciliation of Expense Summary - 4Q 2021 4Q21 Non-GAAP Adjustments Operating (Non-GAAP) GAAP SG&A Currency Acquisitions/Divestitures Base* RD&E Currency Acquisitions/Divestitures Base* Operating Expense & Other Income Currency Acquisitions/Divestitures Base* 1 pts (2 pts) 22 pts 0 pts 0 pts 1 pts 1 pts (2 pts) 23 pts (0 pts) (2 pts) 0 pts 0 pts 0 pts 0 pts 0 pts (2 pts) 0 pts 3 pts (1 pts) 18 pts 0 pts (0 pts) 0 pts 3 pts (1 pts) 18 pts The above reconciles the Non-GAAP financial information contained in the “Expense Summary” discussion in the company’s earnings presentation. See Exhi bit 99.2 included in the company’s F orm 8 -K date d January 24, 2022, for additional information on the use of these No n-GAAP financial measure s. *Represents the percentage change after excluding the impact of currency, acquisitions and divestitures. Supplemental Materials 31

Non-GAAP Supplemental Materials Reconciliation of Continuing Operations - 4Q 2021 4Q21 Acquisition-Related Adjustments Retirement-Related Adjustments Kyndryl-Related Impact Tax Reform Impacts Operating (Non-GaaP) GAAP Gross Profit Gross Profit Margin SG&A Other (Income) & Expense Total Expense Pre-tax Income Pre-tax Income Margin Tax Rate Net Income Net Income Margin Earnings Per Share $9,500 56.9% 4,903 (18) 6,632 2,869 17.2% 14.2% 2,462 14.7% $2.72 $182 1.1 pts (290) (1) (290) 472 2.8 pts 1.4 pts 355 2.1 pts $0.39 — — — (315) (315) 315 1.9 pts 1.8 pts 206 1.2 pts $0.23 — — — — — — — (2.7 pts) 94 0.6 pts $0.10 $0 0.0 pts (8) 126 118 (118) (0.7 pts) (0.6 pts) (81) (0.5 pts) -$0.09 $9,682 58.0% 4,605 (208) 6,145 3,537 21.2% 14.2% 3,035 18.2% $3.35 $ in millions (except EPS which is in whole dollars) The above reconciles the Non-GAAP financial information contained in the “Financial Highlights”, “Revenue and P&L Highlights”, “Expense Summary” and “Prepared Remarks” discussions in the company’s earnings presentation. See Exhibit 99.2 included in the company’s Form 8 -K dated January 24, 2022, for additional information on the use of these Non-GAAP financial measures. Supplemental Materials 32

Non-GAAP Supplemental Materials Reconciliation of IBM post-separation baseline Free Cash Flow – FY 2021 12 Months Ended Dec 2021 Consolidated Net Cash from Operations per GAAP $12.8 Less: change in Financing receivables $3.9 Capital Expenditures, net ($2.4) Consolidated Free Cash Flow $6.5 Less: Kyndryl charges and pre-separation activity* ($1.4) IBM post-separation baseline Free Cash Flow $7.9 $ in billions *includes Kyndryl cash impacts incurred in the period related to structural actions initiated in 4Q20 and all separation rela ted costs. Kyndryl's estimated free cash flow was deemed immaterial. The above reconciles the Non-GAAP financial information contained in the “Financial Highlights”, “Cash Flow and Balance Sheet Highlights” and “Prepared Remarks” discussions in the company’s earnings presentation. See Exhibit 99.2 included in the company’s Form 8 -K dated January 24, 2022, for additional information on the use of these Non-GAAP financial measures. Supplemental Materials 33

Non-GAAP Supplemental Materials Reconciliation of Operating Pre-tax Income Margin – 2022 Expectations Operating GAAP (Non-GAAP) Pre-tax Income Margin Yr/Yr Expectation B/(W) B/(W) 1Q 2022 Full Year 2022 4 to 5 pts ~5 pts 2 to 3 pts ~4 pts The above reconciles the Non-GAAP financial information contained in the “Prepared Remarks” discussion in the company’s earnings presentation. 99.2 included in the company’s Form 8 -K dated January 24, 2022, for additional information on the use of this Non-GAAP financialmeasure. See Exhibit Supplemental Materials 34

ibm.com/investor

XML

Document and Entity Information	Jan. 24, 2022
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Jan. 24, 2022
Entity File Number	1-2360
Entity Registrant Name	INTERNATIONAL BUSINESS MACHINES CORPORATION
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-0871985
Entity Address, Address Line One	One New Orchard Road
Entity Address, City or Town	Armonk
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10504
City Area Code	914
Local Phone Number	499-1900
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000051143
Amendment Flag	false
New York Stock Exchange | Common Stock
Document Information [Line Items]
Title of 12(b) Security	Capital stock, par value $.20 per share
Trading Symbol	IBM
Security Exchange Name	NYSE
New York Stock Exchange | 2.625% Notes due 2022
Document Information [Line Items]
Title of 12(b) Security	2.625% Notes due 2022
Trading Symbol	IBM 22A
Security Exchange Name	NYSE
New York Stock Exchange | 1.250% Notes due 2023
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2023
Trading Symbol	IBM 23A
Security Exchange Name	NYSE
New York Stock Exchange | 0.375% Notes due 2023
Document Information [Line Items]
Title of 12(b) Security	0.375% Notes due 2023
Trading Symbol	IBM 23B
Security Exchange Name	NYSE
New York Stock Exchange | 1.125% Notes due 2024
Document Information [Line Items]
Title of 12(b) Security	1.125% Notes due 2024
Trading Symbol	IBM 24A
Security Exchange Name	NYSE
New York Stock Exchange | 2.875% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	2.875% Notes due 2025
Trading Symbol	IBM 25A
Security Exchange Name	NYSE
New York Stock Exchange | 0.950% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	0.950% Notes due 2025
Trading Symbol	IBM 25B
Security Exchange Name	NYSE
New York Stock Exchange | 0.875% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2025
Trading Symbol	IBM 25C
Security Exchange Name	NYSE
New York Stock Exchange | 0.300% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	0.300% Notes due 2026
Trading Symbol	IBM 26B
Security Exchange Name	NYSE
New York Stock Exchange | 1.250% Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2027
Trading Symbol	IBM 27B
Security Exchange Name	NYSE
New York Stock Exchange | 1.750% Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	1.750% Notes due 2028
Trading Symbol	IBM 28A
Security Exchange Name	NYSE
New York Stock Exchange | 0.300% Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	0.300% Notes due 2028
Trading Symbol	IBM 28B
Security Exchange Name	NYSE
New York Stock Exchange | 1.500% Notes due 2029
Document Information [Line Items]
Title of 12(b) Security	1.500% Notes due 2029
Trading Symbol	IBM 29
Security Exchange Name	NYSE
New York Stock Exchange | 1.750% Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	1.750% Notes due 2031
Trading Symbol	IBM 31
Security Exchange Name	NYSE
New York Stock Exchange | 0.650% Notes due 2032
Document Information [Line Items]
Title of 12(b) Security	0.650% Notes due 2032
Trading Symbol	IBM 32A
Security Exchange Name	NYSE
New York Stock Exchange | 1.200% Notes due 2040
Document Information [Line Items]
Title of 12(b) Security	1.200% Notes due 2040
Trading Symbol	IBM 40
Security Exchange Name	NYSE
New York Stock Exchange | 7.00% Debentures due 2025
Document Information [Line Items]
Title of 12(b) Security	7.00% Debentures due 2025
Trading Symbol	IBM 25
Security Exchange Name	NYSE
New York Stock Exchange | 6.22% Debentures due 2027
Document Information [Line Items]
Title of 12(b) Security	6.22% Debentures due 2027
Trading Symbol	IBM 27
Security Exchange Name	NYSE
New York Stock Exchange | 6.50% Debentures due 2028
Document Information [Line Items]
Title of 12(b) Security	6.50% Debentures due 2028
Trading Symbol	IBM 28
Security Exchange Name	NYSE
New York Stock Exchange | 7.00% Debentures due 2045
Document Information [Line Items]
Title of 12(b) Security	7.00% Debentures due 2045
Trading Symbol	IBM 45
Security Exchange Name	NYSE
New York Stock Exchange | 7.125% Debentures due 2096
Document Information [Line Items]
Title of 12(b) Security	7.125% Debentures due 2096
Trading Symbol	IBM 96
Security Exchange Name	NYSE
Chicago Stock Exchange | Common Stock
Document Information [Line Items]
Title of 12(b) Security	Capital stock, par value $.20 per share
Trading Symbol	IBM
Security Exchange Name	CHX