Overview Financials News + Filings Key Docs Charts Transactions Ownership Insiders
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Global Technology Services | | | | 30,018.0 | 29,870.0 | | | |
| Global Business Services | | | | 17,121.0 | 16,436.0 | 17,109.0 | 17,664.0 | 20,055.0 |
| Systems | | | | 8,848.0 | 8,945.0 | 8,464.0 | 10,325.0 | 13,300.0 |
| Global Financing | | | | 3,200.0 | 3,168.0 | 3,494.0 | 4,477.0 | 4,522.0 |
| Other | | | | 20,404.0 | 20,720.0 | 50,852.0 | 49,275.0 | 54,916.0 |
| Total revenues [+] | 57,350.0 | 55,179.0 | 57,714.0 | 79,591.0 | 79,139.0 | 79,919.0 | 81,741.0 | 92,793.0 |
| Products | | | | | | | 29,967.0 | 35,063.0 |
| Services | | | | | | | 49,911.0 | 55,673.0 |
| Financial services | | | | | | | 1,864.0 | 2,057.0 |
| Revenue growth [+] | 3.9% | -4.4% | -27.5% | 0.6% | -1.0% | -2.2% | -11.9% | -5.7% |
| Global Technology Services | | | | 0.5% | | | | |
| Global Business Services | | | | 4.2% | -3.9% | -3.1% | -11.9% | -8.5% |
| Systems | | | | -1.1% | 5.7% | -18.0% | -22.4% | |
| Global Financing | | | | 1.0% | -9.3% | -22.0% | -1.0% | 5.1% |
| Software | 5.3% | 2.3% | 1394.9% | -1.4% | -4.2% | -9.3% | -14.8% | -93.0% |
| Cost of goods sold [+] | 25,865.0 | 24,314.0 | 26,181.0 | 42,655.0 | 42,196.0 | 41,403.0 | 41,057.0 | 46,386.0 |
| Cost of product sales | | | | | | | 6,920.0 | 9,312.0 |
| Cost of services | | | | | | | 33,126.0 | 36,034.0 |
| Financial costs | | | | | | | 1,011.0 | 1,040.0 |
| Gross profit | 31,485.0 | 30,865.0 | 31,533.0 | 36,936.0 | 36,943.0 | 38,516.0 | 40,684.0 | 46,407.0 |
| Gross margin | 54.9% | 55.9% | 54.6% | 46.4% | 46.7% | 48.2% | 49.8% | 50.0% |
| Selling, general and administrative | 18,745.0 | 20,561.0 | 18,724.0 | 19,366.0 | 19,680.0 | 20,869.0 | 20,430.0 | 23,180.0 |
| Research and development | 6,488.0 | 6,262.0 | 5,910.0 | 5,379.0 | 5,590.0 | 5,726.0 | 5,247.0 | 5,437.0 |
| Other operating expenses | 260.0 | 182.0 | -1,651.0 | 126.0 | -342.0 | -1,039.0 | -1,406.0 | -2,680.0 |
| EBITDA [+] | 12,409.0 | 10,555.0 | 14,609.0 | 16,545.0 | 16,556.0 | 17,341.0 | 20,268.0 | 24,962.0 |
| EBITDA growth | 17.6% | -27.8% | -11.7% | -0.1% | -4.5% | -14.4% | -18.8% | -1.4% |
| EBITDA margin | 21.6% | 19.1% | 25.3% | 20.8% | 20.9% | 21.7% | 24.8% | 26.9% |
| Depreciation | 3,888.0 | 4,227.0 | 4,209.0 | 3,127.0 | 3,021.0 | 2,837.0 | 2,662.0 | 3,145.0 |
| EBITA | 8,521.0 | 6,328.0 | 10,400.0 | 13,418.0 | 13,535.0 | 14,504.0 | 17,606.0 | 21,817.0 |
| EBITA margin | 14.9% | 11.5% | 18.0% | 16.9% | 17.1% | 18.1% | 21.5% | 23.5% |
| Amortization of intangibles | 2,529.0 | 2,468.0 | 1,850.0 | 1,353.0 | 1,520.0 | 1,544.0 | 1,193.0 | 1,347.0 |
| EBIT [+] | 5,992.0 | 3,860.0 | 8,550.0 | 12,065.0 | 12,015.0 | 12,960.0 | 16,413.0 | 20,470.0 |
| EBIT growth | 55.2% | -54.9% | -29.1% | 0.4% | -7.3% | -21.0% | -19.8% | -0.9% |
| EBIT margin | 10.4% | 7.0% | 14.8% | 15.2% | 15.2% | 16.2% | 20.1% | 22.1% |
| Interest expense | 1,155.0 | 1,288.0 | 1,344.0 | 723.0 | 615.0 | 630.0 | 468.0 | 484.0 |
| Interest expense | 1,155.0 | 1,288.0 | 1,344.0 | 723.0 | 615.0 | 630.0 | 468.0 | 484.0 |
| Pre-tax income | 4,837.0 | 2,572.0 | 7,206.0 | 11,342.0 | 11,400.0 | 12,330.0 | 15,945.0 | 19,986.0 |
| Income taxes | 124.0 | -1,360.0 | 60.0 | 2,619.0 | 5,642.0 | 449.0 | 2,581.0 | 4,234.0 |
| Tax rate | 2.6% | | 0.8% | 23.1% | 49.5% | 3.6% | 16.2% | 21.2% |
| Earnings from continuing ops | 4,712.0 | 3,932.0 | 7,146.0 | 8,723.0 | 5,758.0 | 11,881.0 | 13,364.0 | 31,502.0 |
| Earnings from discontinued ops | | | | | | | | -3,729.0 |
| Net income | 5,743.0 | 5,590.0 | 9,431.0 | 8,728.0 | 5,753.0 | 11,872.0 | 13,190.0 | 27,773.0 |
| Net margin | 10.0% | 10.1% | 16.3% | 11.0% | 7.3% | 14.9% | 16.1% | 29.9% |
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| Basic EPS [+] | $5.26 | $4.42 | $8.05 | $9.56 | $6.17 | $12.44 | $13.65 | $31.37 |
| Growth | 19.1% | -45.2% | -15.8% | 54.9% | -50.4% | -8.9% | -56.5% | 1.7% |
| Diluted EPS [+] | $5.21 | $4.39 | $8.00 | $9.52 | $6.14 | $12.39 | $13.60 | $31.19 |
| Growth | 18.8% | -45.2% | -15.9% | 55.0% | -50.4% | -8.9% | -56.4% | 1.9% |
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| Dividends per share [+] | $6.55 | $6.51 | $6.43 | $6.21 | $5.90 | $5.50 | $5.00 | $4.25 |
| Growth | 0.6% | 1.2% | 3.5% | 5.3% | 7.3% | 10.0% | 17.8% | 14.5% |
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| Shares outstanding (basic) [+] | 896.0 | 890.3 | 887.2 | 912.0 | 932.8 | 955.4 | 978.7 | 1,004.3 |
| Growth | 0.6% | 0.4% | -2.7% | -2.2% | -2.4% | -2.4% | -2.5% | -8.2% |
| Shares outstanding (diluted) [+] | 904.6 | 896.6 | 892.8 | 916.3 | 937.4 | 958.7 | 982.7 | 1,010.0 |
| Growth | 0.9% | 0.4% | -2.6% | -2.2% | -2.2% | -2.4% | -2.7% | -8.4% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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