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. pages available for free this week:
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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International Business Machines Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- The cash and cash equivalents fluctuated significantly over the periods analyzed. After peaking near the end of 2023, the amount declined notably by the first quarter of 2025. The cash position showed some recovery mid-2024 but did not sustain upward momentum through early 2025.
- Restricted Cash
- Restricted cash was generally low throughout the timeframe, with a notable spike in mid-2024. Otherwise, levels remained relatively modest and stable, suggesting limited changes in cash subject to restrictions.
- Marketable Securities
- Marketable securities displayed considerable variability, with several increases and decreases. A notable peak occurred in early 2023, followed by a sharp decline into late 2023, then another increase in 2025. This volatility indicates active portfolio adjustments or market-driven valuation changes.
- Trade Receivables, Net
- The notes and accounts receivable, net of allowances, generally trended downward through 2023, indicating possible tightening in credit or sales growth challenges. Variations in 2024 suggest inconsistent collection or sales recovery efforts, ending in a decline again by early 2025.
- Short-term Financing Receivables (Investment and Sale)
- Short-term financing receivables held for investment decreased systematically from 2020 levels through to 2023, possibly reflecting shifts in financing strategy or credit availability. Receivables held for sale appeared only later in the timeline, showing volatile but generally moderate balances indicating structural changes in financing arrangements.
- Other Accounts Receivable
- Other receivables exhibited relative stability with minor fluctuations, suggesting consistent operational or vendor-related balances without major disruptions.
- Inventories
- Finished goods inventory showed a declining trend culminating in a low point in 2024, with some recovery by early 2025. Work in process and raw materials, as well as overall inventory, experienced modest declines and fluctuations, consistent with a controlled approach to inventory management.
- Deferred Costs
- Both current and non-current deferred costs declined substantially after 2020 and remained at lower levels through 2024, indicative of changes in expense recognition or operational timing.
- Prepaid Expenses and Other Current Assets
- A rise in prepaid expenses and other current assets was evidenced particularly through 2020 and 2021, peaking near mid-2021 to early 2022, followed by a gradual decline. This suggests shifts in prepaid service agreements or timing of expenditures.
- Current Assets
- Current assets decreased markedly after 2020, reaching a trough around mid-2023, before recovering significantly toward 2025. This pattern mirrors trends in liquid assets and receivables, emphasizing liquidity management challenges and subsequent improvement efforts.
- Property, Plant, and Equipment (PPE) & Net PPE
- Gross PPE showed a downward trend post-2020 with substantial reduction in 2021, likely from disposals or reclassifications, stabilizing thereafter. Accumulated depreciation also decreased significantly after 2020, consistent with asset write-downs or changes in portfolio. Net PPE fell sharply in 2021, then remained relatively stable, reflecting the net impact of these factors.
- Operating Right-of-Use Assets
- The balance of operating right-of-use assets declined steadily overall, reflecting lease terminations or changes in lease accounting, with smaller fluctuations through the later periods.
- Long-term Financing Receivables
- Long-term financing receivables decreased from 2020 through 2023, with variability thereafter. This likely indicates cautious credit risk management or portfolio contraction, though some recovery is evident in selected quarters.
- Prepaid Pension Assets
- Prepaid pension assets generally increased through 2021 and then declined in 2023, signaling changes in pension funding status or actuarial assumptions affecting asset valuation.
- Deferred Taxes
- Deferred tax balances displayed a decreasing trend from 2020 with some recovery and stabilization from 2023 onward, consistent with evolving tax obligations or management of tax positions.
- Goodwill
- Goodwill remained relatively stable with mild increases, except for a dip in 2021 coincident with PPE reductions and later a notable increase near early 2025, possibly due to acquisitions or revaluations.
- Intangible Assets, Net
- Intangible assets showed a steady decline over the years, reaching a low near 2024, followed by some recovery in 2025, indicating systematic amortization balanced by occasional asset additions.
- Investments and Sundry Assets
- These assets remained relatively stable with minor fluctuations, reflecting steady investment or miscellaneous asset holdings without major transactions.
- Noncurrent Assets
- Noncurrent assets mirrored declines in PPE and intangible assets from 2020 to 2023, with modest recovery later, reflecting the cumulative effect of asset write-downs, disposals, and additions over time.
- Total Assets
- Total assets peaked in early 2021, declined significantly by 2023, then gradually increased toward 2025. This pattern aligns with changes in current and noncurrent assets, evidencing a period of overall contraction followed by asset base stabilization and modest growth.