# International Business Machines Corporation and Subsidiary Companies

## Consolidated Statement of Financial Position at December 31

### Assets

#### Current Assets:
- Cash: $896 (1985) / $600 (1984)
- Marketable securities, at cost, which approximates market value: $4,726 (1985) / $3,762 (1984)
- Notes and accounts receivable—trade, net of allowances: $9,737 (1985) / $7,393 (1984)
- Other accounts receivable: $809 (1985) / $718 (1984)
- Inventories: $8,579 (1985) / $6,598 (1984)
- Prepaid expenses and other current assets: $1,303 (1985) / $1,304 (1984)

#### Rental Machines and Parts:
- Rental Machines and Parts: $4,637 (1985) / $6,375 (1984)
- Less: Accumulated depreciation: $2,804 (1985) / $3,425 (1984)

#### Plant and Other Property:
- Plant and Other Property: $29,846 (1985) / $23,048 (1984)
- Less: Accumulated depreciation: $11,999 (1985) / $9,635 (1984)

#### Investments and Other Assets:
- Investments and Other Assets: $6,884 (1985) / $6,070 (1984)

#### Total Current Assets: $26,070 (1985) / $20,375 (1984)

### Liabilities and Stockholders' Equity

#### Current Liabilities:
- Taxes: $3,089 (1985) / $2,668 (1984)
- Loans payable: $1,293 (1985) / $834 (1984)
- Accounts payable: $1,823 (1985) / $1,618 (1984)
- Compensation and benefits: $2,460 (1985) / $2,223 (1984)
- Deferred income: $391 (1985) / $340 (1984)
- Other accrued expenses and liabilities: $2,377 (1985) / $1,957 (1984)

#### Long-Term Debt: $3,955 (1985) / $3,269 (1984)

#### Other Liabilities: $1,606 (1985) / $1,353 (1984)

#### Deferred Income Taxes: $3,650 (1985) / $2,057 (1984)

#### Total Current Liabilities and Other Liabilities: $11,433 (1985) / $9,640 (1984)

#### Stockholders' Equity:
- Capital stock, par value $1.25 per share: $6,267 (1985) / $5,998 (1984)
- Shares authorized: 750,000,000
- Issued: 1985—615,741,687; 1984—613,076,500
- Retained earnings: $27,234 (1985) / $23,486 (1984)
- Translation adjustments: $(1,466) (1985) / $(2,948) (1984)
- Less: Treasury stock, at cost: $45 (1985) / $47 (1984)
- Shares: 1985—323,425; 1984—390,961

#### Total Stockholders' Equity: $31,990 (1985) / $26,489 (1984)

#### Total Liabilities and Stockholders' Equity: $52,634 (1985) / $42,808 (1984)

The notes on pages 34 through 43 are an integral part of this statement.