# Five-Year Comparison of Selected Financial Data

(Dollars in millions except per share amounts)

| Year | Gross income from sales, services and rentals | Net earnings | Per share | Cash dividends paid | Per share | Investment in rental machines | Investment in plant and other property | Return on stockholders' equity |
|---|---|---|---|---|---|---|---|---|
| 1985 | $50,056 | $6,555 | $10.67 | $2,703 | $4.40 | 313 | 6,117 | 22.4% |
| 1984 | $45,937 | $6,582 | $10.77 | $2,507 | $4.10 | 858 | 4,615 | 26.5% |
| 1983 | $40,180 | $5,485 | $9.04 | $2,251 | $3.71 | 1,412 | 3,518 | 25.4% |
| 1982 | $34,364 | $4,409 | $7.39 | $2,053 | $3.44 | 3,293 | 3,392 | 23.4% |
| 1981 | $29,070 | $3,610 | $6.14 | $2,023 | $3.44 | 4,146 | 2,699 | 21.1% |

**At end of year:**

| Year | Total assets | Net investment in rental machines | Net investment in plant and other property | Working capital | Long-term debt | Stockholders' equity |
|---|---|---|---|---|---|---|
| 1985 | $52,634 | $1,833 | $17,847 | $14,637 | $3,955 | $31,990 |
| 1984 | $42,808 | $2,950 | $13,413 | $10,735 | $3,269 | $26,489 |
| 1983 | $37,461 | $4,866 | $11,276 | $8,168 | $2,674 | $23,219 |
| 1982 | $32,541 | $7,599 | $9,964 | $5,080 | $2,851 | $19,960 |
| 1981 | $29,107 | $8,220 | $8,577 | $3,195 | $2,669 | $17,676 |

## Selected Quarterly Data

(Dollars in millions except per share and stock prices)

| Quarter | Gross Income | Gross Profit | Net Earnings | Per Share | Stock Prices |
|---|---|---|---|---|---|
| 1985 | First Quarter | $9,769 | $5,591 | $986 | $1.61 | $1.10 | High: $138.25 | Low: $119.00 |
| Second Quarter | $11,434 | $6,497 | $1,414 | $2.30 | $1.10 | High: $133.25 | Low: $117.38 |
| Third Quarter | $11,698 | $6,726 | $1,474 | $2.40 | $1.10 | High: $132.75 | Low: $120.00 |
| Fourth Quarter | $17,155 | $10,139 | $2,681 | $4.36 | $1.10 | High: $158.75 | Low: $122.88 |
| Total | $50,056 | $28,953 | $6,555 | $10.67 | $4.40 |

| Quarter | Gross Income | Gross Profit | Net Earnings | Per Share | Stock Prices |
|---|---|---|---|---|---|
| 1984 | First Quarter | $9,585 | $5,630 | $1,202 | $1.97 | $0.95 | High: $125.00 | Low: $106.50 |
| Second Quarter | $11,199 | $6,666 | $1,623 | $2.65 | $0.95 | High: $117.25 | Low: $99.00 |
| Third Quarter | $10,657 | $6,312 | $1,585 | $2.60 | $1.10 | High: $128.50 | Low: $104.00 |
| Fourth Quarter | $14,496 | $8,410 | $2,172 | $3.55 | $1.10 | High: $127.75 | Low: $116.00 |
| Total | $45,937 | $27,018 | $6,582 | $10.77 | $4.10 |

**Notes:**
- There were 798,152 stockholders of record at December 31, 1985.
- During 1985, stockholders received $2,703 million in cash dividends.
- The regular quarterly cash dividend payable March 10, 1986, will be at the rate of $1.10 per share.
- This dividend will be IBM's 284th consecutive quarterly cash dividend.
- The stock prices reflect the high and low prices for IBM's capital stock on the New York Stock Exchange composite tape for the last two years.