Current Assets

International Business Machines·Balance Sheet Statement·31 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Total current assets	$33.3B	$30.5B	$34.5B	$35.3B	$34.3B	$32.7B	$36.9B	$31.9B
Financing Receivables	$11.9B	$11.2B	$13.1B	$11.2B	$13.1B	$12.8B	$17B	$14.3B
Cash and cash equivalents	$14.5B	$13.2B	$14.2B	$11.2B	$12B	$11.6B	$13.6B	$10.9B
Accounts receivable, net	$5.8B	$5.4B	$6.8B	$5.9B	$6B	$5.5B	$8.1B	$6.5B
Held for investment (net of allowances of $100 in 2026 and $106 in 2025)	$5.1B	$5.3B	$6.3B	$5.1B	$5.6B	$5.2B	$7.3B	$5.8B
Financing Receivables Held for Investment, Net	$5.1B	$5.3B	$6.3B	$5.1B	$5.6B	$5.2B	$7.3B	$5.8B
Prepaid expenses and other current assets	$2.8B	$2.4B	$2.5B	$2.8B	$2.8B	$2.7B	$2.5B	$3.2B
Inventories	$1.2B	$1.4B	$1.3B	$1.4B	$1.3B	$1.4B	$1.2B	$1.5B
Other accounts receivable (net of allowances of $37 in 2026 and $37 in 2025)	$757M	$928M	$947M	$897M	$1.2B	$1.2B	$1.1B	$1.2B
Work in process and raw materials	$1.1B	$1.2B	$1.2B	$1.2B	$1.1B	$1.1B	$990M	$1.2B
Capitalized Contract Costs, Current	$997M	$966M	$959M	$1.1B	$1.2B	$1.1B	$1.1B	$1.2B
Deferred costs	$997M	$966M	$959M	$1.1B	$1.2B	$1.1B	$1.1B	$1.2B
Debt securities - current	$1.5B	$505M	$644M	$6.4B	$3.5B	$3.3B	$830M	$964M
Held for sale	$723M	$509M	$900M	$588M	$746M	$745M	$1.1B	$743M
Contract assets	$540M	$572M	$433M	$465M	$495M	$533M	$482M	$551M
Finished goods	$141M	$169M	$134M	$203M	$188M	$314M	$230M	$268M
Restricted cash	$2.3B	$17M	$214M	$126M	$83M	$30M	$54M	$45M
Accounts Receivable Derecognized	—	—	$900M	—	—	—	$300M	—
Lease Receivable Payments - 2022 (Lessor)	—	—	$1.6B	—	—	—	$1.5B	—
Lease Receivable Payments - 2023 (Lessor)	—	—	$584M	—	—	—	$874M	—
Lease Receivable Payments - 2024 (Lessor)	—	—	$244M	—	—	—	$509M	—
Lease Receivable Payments - 2025 (Lessor)	—	—	$60M	—	—	—	$203M	—
Lease Receivable Payments - Due After Year Five	—	—	$3M	—	—	—	$55M	—
Lease Receivable Payments - Remainder of Fiscal Year	—	—	$1.6B	—	—	—	$1.5B	—
Total Lease Receivable Payments	—	—	$3.4B	—	—	—	$4.3B	—
Lease Receivable Payments - Due Year Two	—	—	$963M	—	—	—	$1.2B	—
Lease Receivable Payments - Due Year Three	—	—	$584M	—	—	—	$874M	—
Lease Receivable Payments - Due Year Four	—	—	$244M	—	—	—	$509M	—
Lease Receivable Payments - Due Year Five	—	—	$60M	—	—	—	$203M	—
Lease Receivable - Undiscounted Excess Amount	—	—	$344M	—	—	—	$479M	—
Trading Securities in Marketable Securities	—	—	$156M	—	—	—	$221M	—

Metrics

Current Assets

Breakdown

Metrics

Accounts Receivable Derecognized

Accounts receivable, net

Capitalized Contract Costs, Current

Cash and cash equivalents

Contract assets

Deferred costs

Debt securities - current

Finished goods

Work in process and raw materials

Held for investment (net of allowances of $100 in 2026 and $106 in 2025)

Other accounts receivable (net of allowances of $37 in 2026 and $37 in 2025)

Held for sale

Financing Receivables

Financing Receivables Held for Investment, Net

Inventories

Lease Receivable Payments - 2022 (Lessor)

Lease Receivable Payments - 2023 (Lessor)

Lease Receivable Payments - 2024 (Lessor)

Lease Receivable Payments - 2025 (Lessor)

Lease Receivable Payments - Due After Year Five

Lease Receivable Payments - Remainder of Fiscal Year

Total Lease Receivable Payments

Lease Receivable Payments - Due Year Two

Lease Receivable Payments - Due Year Three

Lease Receivable Payments - Due Year Four

Lease Receivable Payments - Due Year Five

Lease Receivable - Undiscounted Excess Amount

Prepaid expenses and other current assets

Restricted cash

Total current assets

Trading Securities in Marketable Securities