Stock Analysis on Net
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International Business Machines Corp. (NYSE:IBM)

$24.99

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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International Business Machines Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

Microsoft Excel
Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents
Restricted cash
Marketable securities
Notes and accounts receivable, trade, net of allowances
Short-term financing receivables, held for investment, net of allowances
Short-term financing receivables, held for sale
Other accounts receivable, net of allowances
Finished goods
Work in process and raw materials
Inventory, at lower of average cost or net realizable value
Deferred costs
Prepaid expenses and other current assets
Current assets
Property, plant and equipment
Accumulated depreciation
Property, plant and equipment, net
Operating right-of-use assets, net
Long-term financing receivables, net of allowances
Prepaid pension assets
Deferred costs
Deferred taxes
Goodwill
Intangible assets, net
Investments and sundry assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The total asset base exhibits a cyclical trend, characterized by an initial contraction followed by a period of sustained growth. Total assets declined from 148.6 billion USD in March 2021 to a low of 125.8 billion USD by September 2022, before recovering to reach 152.1 billion USD by June 2026. This trajectory suggests a strategic realignment of the balance sheet, transitioning from a period of asset reduction to one of expansion.

Liquidity and Current Asset Management
Cash and cash equivalents demonstrate significant quarterly volatility, fluctuating between a low of 6.6 billion USD in December 2021 and a high of 14.6 billion USD in March 2024. A parallel volatility is observed in marketable securities, which peaked at 8.0 billion USD in March 2023 before dropping sharply to 373 million USD by December 2023, indicating active treasury management or the deployment of liquid reserves for strategic investments.
Current assets generally remained within a range of 27.7 billion USD to 36.6 billion USD. Trade receivables and financing receivables showed relative stability, although short-term financing receivables held for investment trended slightly downward from 8.8 billion USD in March 2021 to approximately 5.7 billion USD by June 2026.
Fixed Asset Structural Shift
A significant structural adjustment occurred in the fourth quarter of 2021. Property, plant, and equipment (net) dropped precipitously from 9.1 billion USD in September 2021 to 5.6 billion USD in December 2021. This was accompanied by a simultaneous reduction in accumulated depreciation from 23.2 billion USD to 14.3 billion USD, suggesting a major divestiture or a significant reclassification of fixed assets. Following this event, net PP&E remained stable, fluctuating minimally between 5.2 billion USD and 5.9 billion USD through June 2026.
Intangible Assets and Long-Term Growth
Goodwill represents the most substantial component of the noncurrent asset portfolio and serves as the primary driver of total asset growth in the latter half of the period. After maintaining a range of 54 billion USD to 60 billion USD between 2021 and 2023, goodwill increased sharply to 74.7 billion USD by March 2026, pointing to an aggressive acquisition strategy.
Net intangible assets followed a generally downward trajectory from 13.5 billion USD in March 2021 to roughly 10.2 billion USD in June 2024, before spiking to 14.6 billion USD in March 2026. This suggests that while older intangible assets were amortized, new acquisitions in early 2026 added significant value to this category.
Other Noncurrent Asset Trends
Deferred tax assets showed a gradual increase from a low of 6.2 billion USD in December 2022 to 8.7 billion USD by June 2026. Prepaid pension assets remained relatively stable, oscillating between 7.4 billion USD and 9.9 billion USD throughout the analyzed timeframe.

Assets: Selected Items

Current Assets: Selected Items