Separation of Kyndryl (Tables)

3 Months Ended

Mar. 31, 2022

Separation of Kyndryl

Schedule of discontinued operations

(Dollars in millions)
For the three months ended March 31:	2022		2021*
Revenue	$	17	$	4,543
Cost of sales		21		3,365
Selling, general and administrative expense		(6)		488
RD&E and Other (income) and expense		(69)		29
Income from discontinued operations before income taxes	$	73	$	661
Provision for income taxes		2		109
Income from discontinued operations, net of tax	$	71	$	552

* Excludes intercompany transactions between IBM and Kyndryl and general corporate overhead costs transferred to Kyndryl as discussed above.

(Dollars in millions)
For the three months ended March 31:	2022		2021
Net cash provided by/(used in) operating activities	$	0	$	702	*
Net cash provided by/(used in) investing activities		48		(104)

* Excludes intercompany transactions between IBM and Kyndryl and general corporate overhead costs transferred to Kyndryl as discussed above.