Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

International Business Machines Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Services	29,813)	30,378)	30,206)	29,225)	45,004)
Sales	32,231)	30,745)	29,673)	27,346)	27,484)
Financing	709)	737)	651)	779)	1,132)
Revenue	62,753)	61,860)	60,530)	57,350)	73,620)
Services	(20,530)	(21,051)	(21,062)	(19,147)	(30,404)
Sales	(6,303)	(6,127)	(6,374)	(6,184)	(6,934)
Financing	(369)	(382)	(407)	(533)	(707)
Cost	(27,202)	(27,560)	(27,843)	(25,864)	(38,045)
Gross profit	35,551)	34,300)	32,687)	31,486)	35,575)
Selling, general and administrative	(19,688)	(19,003)	(18,609)	(18,745)	(23,082)
Research, development and engineering	(7,479)	(6,775)	(6,567)	(6,488)	(6,333)
Intellectual property and custom development income	996)	860)	663)	612)	626)
Operating income	9,380)	9,382)	8,174)	6,865)	6,786)
Gains (losses) on foreign currency transactions	458)	(116)	643)	204)	(114)
Gains (losses) on derivative instruments	(515)	17)	(225)	(205)	101)
Interest income	747)	670)	162)	52)	105)
Net gains (losses) from securities and investment assets	20)	39)	(278)	133)	22)
Retirement-related income (costs)	(3,457)	39)	(6,548)	(1,282)	(1,123)
Other	893)	282)	464)	244)	170)
Other income and (expense)	(1,854)	931)	(5,782)	(854)	(839)
Interest expense	(1,712)	(1,607)	(1,216)	(1,155)	(1,288)
Income from continuing operations before income taxes	5,814)	8,706)	1,176)	4,856)	4,659)
(Provision for) benefit from income taxes	218)	(1,176)	626)	(125)	864)
Income from continuing operations	6,032)	7,530)	1,802)	4,731)	5,523)
Income (loss) from discontinued operations, net of tax	8)	(12)	(143)	1,031)	89)
Net income	6,040)	7,518)	1,659)	5,762)	5,612)
Net income attributable to noncontrolling interest	(17)	(16)	(20)	(19)	(22)
Net income attributable to IBM	6,023)	7,502)	1,639)	5,743)	5,590)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Download chart

Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	International Business Machines Corp. revenue increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	International Business Machines Corp. operating income increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Income from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	International Business Machines Corp. income from continuing operations before income taxes increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Net income attributable to IBM	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	International Business Machines Corp. net income attributable to IBM increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

International Business Machines Corp. (NYSE:IBM)

Income Statement