# Financial Highlights

**International Business Machines Corporation**

**for the year ended December 31, 1985**

**(Dollars in millions except per share amounts)**

|  | 1985 | 1984 |
| --- | --- | --- |
| **Highlights of the year:** |  |  |
| Gross income from sales, services and rentals | $ 50,056 | $ 45,937 |
| Earnings before income taxes | $ 11,619 | $ 11,623 |
| Income taxes | $ 5,064 | $ 5,041 |
| Net earnings | $ 6,555 | $ 6,582 |
| Per share | $10.67 | $10.77 |
| Cash dividends paid | $ 2,703 | $ 2,507 |
| Per share | $ 4.40 | $ 4.10 |
| Investment in plant, rental machines and other property | $ 6,430 | $ 5,473 |
| Return on stockholders' equity | 22.4% | 26.5% |
|  |  |  |
| **At end of year:** |  |  |
| Total assets | $ 52,634 | $ 42,808 |
| Net investment in plant, rental machines and other property | $ 19,680 | $ 16,363 |
| Working capital | $ 14,637 | $ 10,735 |
| Long-term debt | $ 3,955 | $ 3,269 |
| Stockholders' equity | $ 31,990 | $ 26,489 |
| Number of employees | 405,535 | 394,930 |
| Number of stockholders | 798,152 | 792,506 |

**Gross Income (Millions of dollars)**

```
1981: 39,070
1982: 34,364
1983: 40,180
1984: 45,937
1985: 50,056
```

**Net Earnings/Dividends (Millions of dollars)**

```
1981: 3,610
1982: 2,021
1983: 2,053
1984: 2,251
1985: 6,582
```

- Dividends
- Net Earnings