Separation of Kyndryl (Tables)

12 Months Ended

Dec. 31, 2022

Separation of Kyndryl

Schedule of discontinued operations

($ in millions)
For the year ended December 31:	2022		2021		*	2020		*
Revenue	$	7	$	14,994		$	18,441
Cost of sales		24		11,270			13,651
Selling, general and administrative expense		86		1,869	**		1,641	**
Kyndryl-related workforce rebalancing charges		—		31	**		884	**
RD&E and Other (income) and expense		(84)		80			124
Income/(loss) from discontinued operations before income taxes	$	(20)	$	1,744		$	2,142
Provision for income taxes		124		714	È		484
Income/(loss) from discontinued operations, net of taxÈÈ	$	(143)	$	1,030		$	1,658

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

** Recast to conform to 2022 presentation.

^È Includes tax charges related to the Kyndryl separation.

^ÈÈ Includes $(1) million and $89 million in 2021 and 2020, respectively, related to discontinued operations of Microelectronics, divested in 2015.

($ in millions)
For the year ended December 31:	2022		2021			2020
Net cash provided by/(used in) operating activities	$	—	$	1,612	*	$	4,403
Net cash provided by/(used in) investing activities		48		(380)			(935)

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