International Business Machines (IBM) 10-Q 25 Jul 23 2023 Q2 Quarterly report Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2023 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Entity File Number	1-2360
Entity Registrant Name	INTERNATIONAL BUSINESS MACHINES CORPORATION
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-0871985
Entity Address, Address Line One	One New Orchard Road
Entity Address, City or Town	Armonk
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10504
City Area Code	914
Local Phone Number	499-1900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	911,006,240
Entity Central Index Key	0000051143
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
NEW YORK STOCK EXCHANGE, INC. | Common Stock
Document Information [Line Items]
Title of 12(b) Security	Capital stock, par value $.20 per share
Trading Symbol	IBM
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 1.125% Notes due 2024
Document Information [Line Items]
Title of 12(b) Security	1.125% Notes due 2024
Trading Symbol	IBM 24A
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 2.875% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	2.875% Notes due 2025
Trading Symbol	IBM 25A
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 0.950% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	0.950% Notes due 2025
Trading Symbol	IBM 25B
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 0.875% Notes due 2025
Document Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2025
Trading Symbol	IBM 25C
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 0.300% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	0.300% Notes due 2026
Trading Symbol	IBM 26B
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 1.250% Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2027
Trading Symbol	IBM 27B
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 3.375% Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	3.375% Notes due 2027
Trading Symbol	IBM 27F
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 0.300% Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	0.300% Notes due 2028
Trading Symbol	IBM 28B
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 1.750% Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	1.750% Notes due 2028
Trading Symbol	IBM 28A
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 1.500% Notes due 2029
Document Information [Line Items]
Title of 12(b) Security	1.500% Notes due 2029
Trading Symbol	IBM 29
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 0.875% Notes due 2030
Document Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2030
Trading Symbol	IBM 30A
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 1.750% Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	1.750% Notes due 2031
Trading Symbol	IBM 31
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 3.625% Notes due 2031
Document Information [Line Items]
Title of 12(b) Security	3.625% Notes due 2031
Trading Symbol	IBM 31B
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 0.650% Notes due 2032
Document Information [Line Items]
Title of 12(b) Security	0.650% Notes due 2032
Trading Symbol	IBM 32A
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 1.250% Notes due 2034
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2034
Trading Symbol	IBM 34
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 3.750% Notes due 2035
Document Information [Line Items]
Title of 12(b) Security	3.750% Notes due 2035
Trading Symbol	IBM 35
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 4.875% Notes due 2038
Document Information [Line Items]
Title of 12(b) Security	4.875% Notes due 2038
Trading Symbol	IBM 38
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 1.200% Notes due 2040
Document Information [Line Items]
Title of 12(b) Security	1.200% Notes due 2040
Trading Symbol	IBM 40
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 4.000% Notes due 2043
Document Information [Line Items]
Title of 12(b) Security	4.000% Notes due 2043
Trading Symbol	IBM 43
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 7.00% Debentures due 2025
Document Information [Line Items]
Title of 12(b) Security	7.00% Debentures due 2025
Trading Symbol	IBM 25
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 6.22% Debentures due 2027
Document Information [Line Items]
Title of 12(b) Security	6.22% Debentures due 2027
Trading Symbol	IBM 27
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 6.50% Debentures due 2028
Document Information [Line Items]
Title of 12(b) Security	6.50% Debentures due 2028
Trading Symbol	IBM 28
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 5.875% Debentures due 2032
Document Information [Line Items]
Title of 12(b) Security	5.875% Debentures due 2032
Trading Symbol	IBM 32D
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 7.00% Debentures due 2045
Document Information [Line Items]
Title of 12(b) Security	7.00% Debentures due 2045
Trading Symbol	IBM 45
Security Exchange Name	NYSE
NEW YORK STOCK EXCHANGE, INC. | 7.125% Debentures due 2096
Document Information [Line Items]
Title of 12(b) Security	7.125% Debentures due 2096
Trading Symbol	IBM 96
Security Exchange Name	NYSE
NYSE CHICAGO, INC. | Common Stock
Document Information [Line Items]
Title of 12(b) Security	Capital stock, par value $.20 per share
Trading Symbol	IBM
Security Exchange Name	CHX

CONSOLIDATED INCOME STATEMENT

CONSOLIDATED INCOME STATEMENT - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue	$ 15,475	$ 15,535	$ 29,727	$ 29,732
Cost	6,974	7,246	13,717	14,107
Gross profit	8,501	8,290	16,010	15,625
Expense and other (income):
Selling, general and administrative	4,900	4,855	9,754	9,452
Research, development and engineering	1,687	1,673	3,342	3,352
Intellectual property and custom development income	(248)	(176)	(428)	(297)
Other (income) and expense	(261)	(81)	(506)	166
Interest expense	423	297	790	607
Total expense and other (income)	6,501	6,568	12,952	13,280
Income from continuing operations before income taxes	2,000	1,722	3,058	2,345
Provision for income taxes	419	257	543	218
Income from continuing operations	1,581	1,465	2,515	2,127
Income/(loss) from discontinued operations, net of tax	2	(73)	(4)	(2)
Net income	$ 1,583	$ 1,392	$ 2,511	$ 2,125	[1]
Assuming dilution:
Continuing operations (in dollars per share)	$ 1.72	$ 1.61	$ 2.74	$ 2.34
Discontinued operations (in dollars per share)	0	(0.08)	0	0
Total (in dollars per share)	1.72	1.53	2.73	2.34
Basic:
Continuing operations (in dollars per share)	1.74	1.62	2.77	2.36
Discontinued operations (in dollars per share)	0	(0.08)	0	0
Total (in dollars per share)	$ 1.74	$ 1.54	$ 2.76	$ 2.36
Weighted-average number of common shares outstanding:
Assuming dilution (in shares)	919,452,496	910,749,734	918,648,888	909,987,935
Basic (in shares)	909,855,943	901,470,793	908,691,415	900,393,410
Services
Revenue	$ 7,553	$ 7,640	$ 15,077	$ 15,343
Cost	5,294	5,399	10,604	10,747
Sales
Revenue	7,739	7,748	14,271	14,087
Cost	1,587	1,750	2,910	3,165
Financing
Revenue	183	147	380	303
Cost	$ 93	$ 96	$ 203	$ 194
[1]Includes immaterial cash flows from discontinued operations.

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,583	$ 1,392	$ 2,511	$ 2,125	[1]
Other comprehensive income/(loss), before tax:
Foreign currency translation adjustments	116	213	29	655
Net changes related to available-for-sale securities:
Unrealized gains/(losses) arising during the period	(17)	0	(1)	(1)
Reclassification of (gains)/losses to net income	0	0	0	0
Total net changes related to available-for-sale securities	(17)	0	(1)	(1)
Unrealized gains/(losses) on cash flow hedges:
Unrealized gains/(losses) arising during the period	178	200	149	260
Reclassification of (gains)/losses to net income	(30)	16	(152)	16
Total unrealized gains/(losses) on cash flow hedges	148	217	(3)	276
Retirement-related benefit plans:
Prior service costs/(credits)	0	0	0	(5)
Net (losses)/gains arising during the period	0	1	2	10
Curtailments and settlements	6	11	5	19
Amortization of prior service (credits)/costs	(2)	6	(4)	13
Amortization of net (gains)/losses	130	450	261	917
Total retirement-related benefit plans	134	468	263	954
Other comprehensive income/(loss), before tax	381	897	289	1,885
Income tax (expense)/benefit related to items of other comprehensive income	(101)	(534)	(48)	(819)
Other comprehensive income/(loss), net of tax	280	363	241	1,066
Total comprehensive income	$ 1,863	$ 1,755	$ 2,751	$ 3,191
[1]Includes immaterial cash flows from discontinued operations.

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 9,394	$ 7,886
Restricted cash	31	103
Marketable securities	6,904	852
Notes and accounts receivable — trade (net of allowances of $217 in 2023 and $233 in 2022)	5,673	6,541
Short-term financing receivables:
Held for investment (net of allowances of $143 in 2023 and $145 in 2022)	5,564	6,851
Held for sale	865	939
Other accounts receivable (net of allowances of $108 in 2023 and $89 in 2022)	838	817
Inventory, at lower of average cost or net realizable value:
Finished goods	174	158
Work in process and raw materials	1,327	1,394
Total inventory	1,501	1,552
Deferred costs	957	967
Prepaid expenses and other current assets	2,730	2,611
Total current assets	34,458	29,118
Property, plant and equipment	18,588	18,695
Less: Accumulated depreciation	13,145	13,361
Property, plant and equipment — net	5,443	5,334
Operating right-of-use assets — net	2,653	2,878
Long-term financing receivables (net of allowances of $28 in 2023 and $28 in 2022)	5,221	5,806
Prepaid pension assets	8,735	8,236
Deferred costs	897	866
Deferred taxes	6,340	6,256
Goodwill	56,385	55,949
Intangible assets — net	10,496	11,184
Investments and sundry assets	1,585	1,617
Total assets	132,213	127,243
Current liabilities:
Taxes	1,606	2,196
Short-term debt	6,785	4,760
Accounts payable	3,732	4,051
Compensation and benefits	3,185	3,481
Deferred income	12,712	12,032
Operating lease liabilities	842	874
Other accrued expenses and liabilities	3,651	4,111
Total current liabilities	32,513	31,505
Long-term debt	50,691	46,189
Retirement and nonpension postretirement benefit obligations	9,385	9,596
Deferred income	3,264	3,499
Operating lease liabilities	1,986	2,190
Other liabilities	12,103	12,243
Total liabilities	109,942	105,222
IBM stockholders’ equity:
Common stock	58,963	58,343
Retained earnings	149,318	149,825
Treasury stock	(169,581)	(169,484)
Accumulated other comprehensive income/(loss)	(16,499)	(16,740)
Total IBM stockholders’ equity	22,201	21,944
Noncontrolling interests	70	77
Total equity	22,271	22,021
Total liabilities and equity	$ 132,213	$ 127,243

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Notes and accounts receivable - trade, allowances	$ 217	$ 233
Short-term financing receivables, allowances	143	145
Other accounts receivable, allowances	108	89
Long-term financing receivables, allowances	$ 28	$ 28
Common stock, par value (in dollars per share)	$ 0.20	$ 0.20
Common stock, shares authorized (in shares)	4,687,500,000	4,687,500,000
Common stock, shares issued (in shares)	2,262,697,191	2,257,116,920
Treasury stock, shares (in shares)	1,351,690,951	1,351,024,943

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	[1]
Cash flows from operating activities:
Net income	$ 2,511	$ 2,125
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	1,047	1,251
Amortization of intangibles	1,104	1,251
Stock-based compensation	556	488
Net (gain)/loss on asset sales and other	(113)	(100)
Changes in operating assets and liabilities, net of acquisitions/divestitures	1,308	(446)
Net cash provided by operating activities	6,412	4,569
Cash flows from investing activities:
Payments for property, plant and equipment	(664)	(620)
Proceeds from disposition of property, plant and equipment	25	90
Investment in software	(305)	(341)
Acquisition of businesses, net of cash acquired	(356)	(958)
Divestitures of businesses, net of cash transferred	6	1,268
Purchases of marketable securities and other investments	(9,260)	(2,336)
Proceeds from disposition of marketable securities and other investments	2,600	1,711
Net cash provided by/(used in) investing activities	(7,953)	(1,186)
Cash flows from financing activities:
Proceeds from new debt	9,432	4,402
Payments to settle debt	(3,260)	(3,959)
Short-term borrowings/(repayments) less than 90 days — net	(3)	(9)
Common stock repurchases for tax withholdings	(240)	(315)
Financing — other	56	25
Cash dividends paid	(3,007)	(2,963)
Net cash provided by/(used in) financing activities	2,978	(2,819)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1)	(267)
Net change in cash, cash equivalents and restricted cash	1,436	297
Cash, cash equivalents and restricted cash at January 1	7,988	6,957
Cash, cash equivalents and restricted cash at June 30	$ 9,425	$ 7,254
[1]Includes immaterial cash flows from discontinued operations.

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions	Total		Total IBM Stockholders' Equity	Common Stock and Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income/(Loss)	Non- Controlling Interests
Balance at the beginning of the period at Dec. 31, 2021	$ 18,996		$ 18,901	$ 57,319	$ 154,209	$ (169,392)	$ (23,234)	$ 95
Net income plus other comprehensive income/(loss):
Net income	2,125	[1]	2,125		2,125
Other comprehensive income/(loss)	1,066		1,066				1,066
Total comprehensive income	3,191		3,191
Cash dividends paid - common stock	(2,963)		(2,963)		(2,963)
Common stock issued under employee plans	420		420	420
Purchases and sales of treasury stock under employee plans - net	(141)		(141)		(11)	(130)
Other equity	0		0	63	(63)
Changes in noncontrolling interests	(27)							(27)
Balance at the end of the period at Jun. 30, 2022	19,476		19,409	57,802	153,298	(169,522)	(22,169)	67
Balance at the beginning of the period at Mar. 31, 2022	19,112		19,050	57,603	153,401	(169,422)	(22,532)	62
Net income plus other comprehensive income/(loss):
Net income	1,392		1,392		1,392
Other comprehensive income/(loss)	363		363				363
Total comprehensive income	1,755		1,755
Cash dividends paid - common stock	(1,488)		(1,488)		(1,488)
Common stock issued under employee plans	199		199	199
Purchases and sales of treasury stock under employee plans - net	(107)		(107)		(7)	(100)
Changes in noncontrolling interests	6							6
Balance at the end of the period at Jun. 30, 2022	19,476		19,409	57,802	153,298	(169,522)	(22,169)	67
Balance at the beginning of the period at Dec. 31, 2022	22,021		21,944	58,343	149,825	(169,484)	(16,740)	77
Net income plus other comprehensive income/(loss):
Net income	2,511		2,511		2,511
Other comprehensive income/(loss)	241		241				241
Total comprehensive income	2,751		2,751
Cash dividends paid - common stock	(3,007)		(3,007)		(3,007)
Common stock issued under employee plans	619		619	619
Purchases and sales of treasury stock under employee plans - net	(107)		(107)		(10)	(97)
Changes in noncontrolling interests	(7)							(7)
Balance at the end of the period at Jun. 30, 2023	22,271		22,201	58,963	149,318	(169,581)	(16,499)	70
Balance at the beginning of the period at Mar. 31, 2023	21,672		21,604	58,675	149,253	(169,544)	(16,780)	68
Net income plus other comprehensive income/(loss):
Net income	1,583		1,583		1,583
Other comprehensive income/(loss)	280		280				280
Total comprehensive income	1,863		1,863
Cash dividends paid - common stock	(1,510)		(1,510)		(1,510)
Common stock issued under employee plans	288		288	288
Purchases and sales of treasury stock under employee plans - net	(45)		(45)		(8)	(37)
Changes in noncontrolling interests	2							2
Balance at the end of the period at Jun. 30, 2023	$ 22,271		$ 22,201	$ 58,963	$ 149,318	$ (169,581)	$ (16,499)	$ 70
[1]Includes immaterial cash flows from discontinued operations.

CONSOLIDATED STATEMENT OF EQU_2

CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividend per common share (in dollars per share)	$ 1.66	$ 1.65	$ 3.31	$ 3.29
Common stock issued under employee plans (in shares)	3,199,344	4,398,589	5,580,271	5,960,724
Purchases of treasury stock under employee plans (in shares)	1,098,988	1,723,774	1,810,313	2,319,484
Sales of treasury stock under employee plans (in shares)	860,470	1,070,214	1,144,305	1,470,514

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying Consolidated Financial Statements and footnotes of the International Business Machines Corporation (IBM or the company) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The financial statements and footnotes are unaudited. In the opinion of the company’s management, these statements include all adjustments, which are only of a normal recurring nature, necessary to present a fair statement of the company’s results of operations, financial position and cash flows. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amount of assets, liabilities, revenue, costs, expenses and other comprehensive income/(loss) that are reported in the Consolidated Financial Statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events, historical experience, actions that the company may undertake in the future and on various other assumptions that are believed to be reasonable under the circumstances. As a result, actual results may be different from these estimates. In the fourth quarter of 2022, the company completed its annual assessment of the useful lives of its property, plant and equipment. Due to advances in technology, the company determined it should increase the estimated useful lives of its server and network equipment from five three For the three and six months ended June 30, 2023, the company reported a provision for income taxes of $419 million and $543 million, respectively, and its effective tax rate was 21.0 percent and 17.8 percent, respectively. For the three and six months ended June 30, 2022, the company reported a provision for income taxes of $257 million and $218 million, respectively, and its effective tax rate was 14.9 percent and 9.3 percent, respectively. The rates are driven by many factors including the impacts of foreign tax credit regulations, geographical mix of income, incentives and changes in unrecognized tax benefits. Noncontrolling interest amounts of $3.9 million and $5.5 million, net of tax, for the three months ended June 30, 2023 and 2022, respectively, and $8.4 million and $10.5 million, net of tax, for the six months ended June 30, 2023 and 2022, respectively, are included as a reduction within other (income) and expense in the Consolidated Income Statement. The company has supplier finance programs with third-party financial institutions where the company agrees to pay the financial institutions the stated amounts of invoices from participating suppliers on the originally invoiced maturity date, which have an average term of 90 days. The financial institutions offer earlier payment of the invoices at the sole discretion of the supplier for a discounted amount. The company does not provide secured legal assets or other forms of guarantees under the arrangements. The company is not a party to the arrangements between its suppliers and the financial institutions. These obligations are recognized as accounts payable in the Consolidated Balance Sheet. The obligations outstanding under these programs at June 30, 2023 and December 31, 2022 were $115 million and $60 million, respectively. Interim results are not necessarily indicative of financial results for a full year. The information included in this Form 10-Q should be read in conjunction with the company’s 2022 Annual Report. Within the financial statements and tables presented, certain columns and rows may not add due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts. Certain prior-period amounts have been reclassified to conform to the current-period presentation. This is annotated where applicable.

Accounting Changes

Accounting Changes	6 Months Ended
	Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Accounting Changes	Accounting Changes: Standards Implemented Disclosures of Supplier Finance Program Obligations Standard/Description– Issuance date: September 2022. This guidance requires an entity to provide certain interim and annual disclosures about the use of supplier finance programs in connection with the purchase of goods or services. Effective Date and Adoption Considerations– The guidance was effective January 1, 2023 with certain annual disclosures required beginning in 2024 and early adoption was permitted. The company adopted the guidance as of the effective date. Effect on Financial Statements or Other Significant Matters– The guidance did not have a material impact in the consolidated financial results. Refer to Note 1, "Basis of Presentation," for additional information. Troubled Debt Restructurings and Vintage Disclosures Standard/Description –Issuance date: March 2022. This eliminates the accounting guidance for troubled debt restructurings and requires an entity to apply the general loan modification guidance to all loan modifications, including those made to customers experiencing financial difficulty, to determine whether the modification results in a new loan or a continuation of an existing loan. The guidance also requires presenting current-period gross write-offs by year of origination for financing receivables and net investment in leases. Effective Date and Adoption Considerations –The amendment was effective January 1, 2023 and early adoption was permitted. The company adopted the guidance on a prospective basis as of the effective date. Effect on Financial Statements or Other Significant Matters –The guidance did not have a material impact in the consolidated financial results. Refer to note 9, "Financing Receivables," for additional information.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition: Disaggregation of Revenue The following tables provide details of revenue by major products/service offerings and revenue by geography. Revenue by Major Products/Service Offerings Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Hybrid Platform & Solutions $ 4,665 $ 4,390 $ 8,844 $ 8,470 Transaction Processing 1,943 1,776 3,685 3,468 Total Software $ 6,608 $ 6,166 $ 12,529 $ 11,938 Business Transformation 2,295 2,227 4,578 4,482 Application Operations 1,758 1,653 3,494 3,272 Technology Consulting 961 928 1,904 1,884 Total Consulting $ 5,013 $ 4,809 $ 9,975 $ 9,637 Hybrid Infrastructure 2,260 2,760 3,969 4,461 Infrastructure Support 1,358 1,474 2,747 2,993 Total Infrastructure $ 3,618 $ 4,235 $ 6,716 $ 7,453 Financing* 185 146 380 300 Other 51 180 126 404 Total revenue $ 15,475 $ 15,535 $ 29,727 $ 29,732 * Contains lease and loan financing arrangements which are not subject to the guidance on revenue from contracts with customers. Revenue by Geography Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Americas $ 8,046 $ 8,142 $ 15,124 $ 15,198 Europe/Middle East/Africa 4,602 4,526 8,933 8,757 Asia Pacific 2,827 2,868 5,670 5,778 Total $ 15,475 $ 15,535 $ 29,727 $ 29,732 Remaining Performance Obligations The remaining performance obligation (RPO) disclosure provides the aggregate amount of the transaction price yet to be recognized as of the end of the reporting period and an explanation as to when the company expects to recognize these amounts in revenue. It is intended to be a statement of overall work under contract that has not yet been performed and does not include contracts in which the customer is not committed, such as certain as-a-Service, governmental, term software license and services offerings. The customer is not considered committed when they are able to terminate for convenience without payment of a substantive penalty. The disclosure includes estimates of variable consideration, except when the variable consideration is a sales-based or usage-based royalty promised in exchange for a license of intellectual property. Additionally, as a practical expedient, the company does not include contracts that have an original duration of one year or less. RPO estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustment for revenue that has not materialized and adjustments for currency. At June 30, 2023, the aggregate amount of the transaction price allocated to RPO related to customer contracts that are unsatisfied or partially unsatisfied was $58 billion. Approximately 72 percent of the amount is expected to be recognized as revenue in the subsequent two years, approximately 26 percent in the subsequent three Revenue Recognized for Performance Obligations Satisfied (or Partially Satisfied) in Prior Periods For the three and six months ended June 30, 2023, revenue was reduced by $14 million and $29 million, respectively, for performance obligations satisfied (or partially satisfied) in previous periods mainly due to changes in estimates on contracts with cost-to-cost measures of progress. Reconciliation of Contract Balances The following table provides information about notes and accounts receivable–trade, contract assets and deferred income balances. (Dollars in millions) At June 30, 2023 At December 31, 2022 Notes and accounts receivable — trade (net of allowances of $217 in 2023 and $233 in 2022) $ 5,673 $ 6,541 Contract assets* $ 447 $ 464 Deferred income (current) $ 12,712 $ 12,032 Deferred income (noncurrent) $ 3,264 $ 3,499 * Included within prepaid expenses and other current assets in the Consolidated Balance Sheet. The amount of revenue recognized during the three and six months ended June 30, 2023 that was included within the deferred income balance at March 31, 2023 and December 31, 2022 was $4.4 billion and $6.8 billion, respectively, and was primarily related to services and software. The following table provides roll forwards of the notes and accounts receivable–trade allowance for expected credit losses for the six months ended June 30, 2023 and the year ended December 31, 2022. (Dollars in millions) January 1, 2023 Additions / (Releases) Write-offs Foreign currency and other June 30, 2023 $ 233 $ 31 $ (47) $ 1 $ 217 January 1, 2022 Additions / (Releases) Write-offs Foreign currency and other December 31, 2022 $ 218 $ 59 $ (31) $ (14) $ 233 The contract assets allowance for expected credit losses was not material in any of the periods presented.

Segments

Segments	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segments	Segments:The following tables reflect the results of continuing operations of the company’s segments consistent with the management and measurement system utilized within the company. Performance measurement is based on pre-tax income from continuing operations. These results are used by the chief operating decision maker, both in evaluating the performance of, and in allocating resources to, each of the segments. SEGMENT INFORMATION (Dollars in millions) Software Consulting Infrastructure Financing Total For the three months ended June 30, 2023: Revenue $ 6,608 $ 5,013 $ 3,618 $ 185 $ 15,424 Pre-tax income from continuing operations $ 1,504 $ 446 $ 633 $ 64 $ 2,647 Revenue year-to-year change 7.2 % 4.3 % (14.6) % 26.2 % 0.4 % Pre-tax income year-to-year change 9.4 % 30.1 % (16.4) % (36.8) % 2.7 % Pre-tax income margin 22.8 % 8.9 % 17.5 % 34.9 % 17.2 % For the three months ended June 30, 2022: Revenue $ 6,166 $ 4,809 $ 4,235 $ 146 $ 15,355 Pre-tax income from continuing operations $ 1,375 $ 343 $ 757 $ 102 $ 2,577 Pre-tax income margin 22.3 % 7.1 % 17.9 % 69.7 % 16.8 % Reconciliations to IBM as Reported: (Dollars in millions) For the three months ended June 30: 2023 2022 Revenue: Total reportable segments $ 15,424 $ 15,355 Other ‒ divested businesses (1) 162 Other revenue 52 18 Total revenue from continuing operations $ 15,475 $ 15,535 Pre-tax income from continuing operations: Total reportable segments $ 2,647 $ 2,577 Amortization of acquired intangible assets (389) (458) Acquisition-related (charges)/income (7) (2) Non-operating retirement-related (costs)/income (1) (192) Kyndryl-related impacts — (145) * Workforce rebalancing charges** (117) — Other ‒ divested businesses (1) 160 Unallocated corporate amounts and other (133) (219) + Total pre-tax income/(loss) from continuing operations $ 2,000 $ 1,722 * Unrealized loss on Kyndryl retained shares and related swap. Refer to note 5, "Acquisitions & Divestitures," and note 16, "Derivative Financial Instruments," for additional information. ** Beginning in the first quarter of 2023, the company updated its measure of segment pre-tax income, consistent with its management system, to no longer allocate workforce rebalancing charges to its segments. Workforce rebalancing charges in the second quarter of 2022 of $3 million were included in the segments. + Recast to conform to 2023 presentation. SEGMENT INFORMATION (Dollars in millions) Software Consulting Infrastructure Financing Total For the six months ended June 30, 2023: Revenue $ 12,529 $ 9,975 $ 6,716 $ 380 $ 29,601 Pre-tax income from continuing operations $ 2,668 $ 828 $ 849 $ 165 $ 4,510 Revenue year-to-year change 5.0 % 3.5 % (9.9) % 26.8 % 0.9 % Pre-tax income year-to-year change 6.3 % 19.8 % (11.2) % (11.3) % 3.8 % Pre-tax income margin 21.3 % 8.3 % 12.6 % 43.3 % 15.2 % For the six months ended June 30, 2022: Revenue $ 11,938 $ 9,637 $ 7,453 $ 300 $ 29,328 Pre-tax income from continuing operations $ 2,509 $ 691 $ 956 $ 186 $ 4,342 Pre-tax income margin 21.0 % 7.2 % 12.8 % 62.0 % 14.8 % Reconciliations to IBM as Reported: (Dollars in millions) For the six months ended June 30: 2023 2022 Revenue: Total reportable segments $ 29,601 $ 29,328 Other ‒ divested businesses (1) 316 Other revenue 127 88 Total consolidated revenue $ 29,727 $ 29,732 Pre-tax income from continuing operations: Total reportable segments $ 4,510 $ 4,342 Amortization of acquired intangible assets (781) (919) Acquisition-related charges (10) (9) Non-operating retirement-related (costs)/income 4 (394) Kyndryl-related impacts — (367) * Workforce rebalancing charges** (376) — Other ‒ divested businesses (5) 109 Unallocated corporate amounts (284) (418) + Total pre-tax income/(loss) from continuing operations $ 3,058 $ 2,345 * Unrealized loss on Kyndryl retained shares and related swap. Refer to note 5, "Acquisitions & Divestitures," and note 16, "Derivative Financial Instruments," for additional information. ** Beginning in the first quarter of 2023, the company updated its measure of segment pre-tax income, consistent with its management system, to no longer allocate workforce rebalancing charges to its segments. Workforce rebalancing charges in the first six months of 2022 of $9 million were included in the segments. + Recast to conform to 2023 presentation.

Acquisitions & Divestitures

Acquisitions & Divestitures	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions & Divestitures	Acquisitions & Divestitures: Acquisitions Purchase price consideration for all acquisitions was paid primarily in cash. All acquisitions, unless otherwise stated, were for 100 percent of the acquired business and are reported in the Consolidated Statement of Cash Flows, net of acquired cash and cash equivalents. During the six months ended June 30, 2023, the company completed six acquisitions at an aggregate cost of $423 million. Each acquisition is expected to enhance the company’s portfolio of products and services capabilities and further advance IBM’s hybrid cloud and AI strategy. Acquisition Segment Description of Acquired Business First Quarter StepZen, Inc. Software Developer of GraphQL to help build application programming interfaces (APIs) Asset Strategy Library (ASL) Portfolio of Uptake Technologies Software Library of industrial asset management data NS1 Software Leading provider of network automation SaaS solutions Second Quarter Ahana Cloud, Inc. Software Expert in open-source-based solutions for data analytics Polar Security Software Innovator in technology that helps companies discover, continuously monitor and secure cloud and SaaS application data Agyla SAS Consulting Leading provider of cloud platform engineering services in France specializing in Cloud, DevOps and Security At June 30, 2023, the remaining cash to be remitted by the company related to certain first-half 2023 acquisitions was $42 million, most of which is expected to be paid in the first half of 2024. The unremitted cash associated with these acquisitions is primarily a non-cash financing activity for purposes of the company's Consolidated Statement of Cash Flows as of June 30, 2023. The following table reflects the purchase price related to these acquisitions and the resulting purchase price allocations as of June 30, 2023. (Dollars in millions) Amortization Total Current assets $ 46 Property, plant and equipment/noncurrent assets 7 Intangible assets: Goodwill N/A 301 Client relationships 7 37 Completed technology 5-7 66 Trademarks 2-5 2 Total assets acquired $ 458 Current liabilities 26 Noncurrent liabilities 10 Total liabilities assumed $ 36 Total purchase price $ 423 N/A – not applicable Goodwill of $266 million, $23 million and $12 million was assigned to the Software, Consulting and Infrastructure segments, respectively, and is primarily attributable to the assembled workforce of the acquired businesses and the increased synergies expected to be achieved from the integration of the acquired businesses into the company’s various integrated solutions and services, neither of which qualifies as an amortizable intangible asset. It is expected that none of the goodwill will be deductible for tax purposes. The overall weighted-average useful life of the identified amortizable intangible assets acquired was 6.8 years. The identified intangible assets will be amortized on a straight-line basis over their useful lives, which approximates the pattern that the assets economic benefits are expected to be consumed over time. The valuation of the assets acquired and liabilities assumed is subject to revision. If additional information becomes available, the company may further revise the purchase price allocation as soon as practical, but no later than one year from the acquisition date; however, material changes are not expected. Transactions Announced – The company signed a definitive agreement in June 2023 to acquire Apptio Inc. (Apptio), a leader in financial and operational IT management and optimization software, for estimated cash consideration of $4.6 billion. The acquisition of Apptio will accelerate the advancement of IBM’s IT automation capabilities and enable enterprise leaders to deliver enhanced business value across technology investments. The transaction is expected to close in the second half of 2023, subject to customary closing conditions, including regulatory clearance. Upon closing, Apptio will be integrated into the Software segment. Divestitures Separation of Kyndryl — On November 3, 2021, the company completed the separation of its managed infrastructure services unit into a new public company with the distribution of 80.1 percent of the outstanding common stock of Kyndryl Holdings, Inc. (Kyndryl) to IBM stockholders on a pro rata basis. The company retained 19.9 percent of the shares of Kyndryl common stock immediately following the separation. During 2022, the company fully disposed of its retained interest in Kyndryl common stock pursuant to exchange agreements with a third-party financial institution, which were completed within twelve months of separation. As of November 2, 2022, the company no longer held an ownership interest in Kyndryl. Income/(loss) from discontinued operations, net of tax for the three and six months ended June 30, 2023 of $2 million and $(4) million, respectively, reflects the net impact of changes in separation-related estimates and the settlement of assets and liabilities in accordance with the separation and distribution agreement. Income/(loss) from discontinued operations, net of tax for the three and six months ended June 30, 2022 of $(73) million and $(2) million, respectively, reflects the same drivers as above and also reflects a gain on sale of a joint venture historically managed by Kyndryl, which was sold to Kyndryl in the first quarter of 2022 upon receiving regulatory approval. Other — The company completed two divestitures in the second quarter of 2023. The financial terms related to these transactions were not material.

Other (Income) and Expenses

Other (Income) and Expenses	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Other (Income) and Expenses	Other (Income) and Expense : Components of other (income) and expense are as follows: Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Other (income) and expense: Foreign currency transaction losses/(gains)* $ (166) $ (494) $ (78) $ (670) (Gains)/losses on derivative instruments** 141 439 (1) 541 Interest income (201) (28) (371) (46) Net (gains)/losses from securities and investment assets + 3 54 8 273 Retirement-related costs/(income) 1 192 (4) 394 Other ++ (39) (243) (61) (327) Total other (income) and expense $ (261) $ (81) $ (506) $ 166 * The company uses financial hedging instruments to limit specific currency risks related to foreign currency-based transactions. The hedging program does not hedge 100 percent of currency exposures and defers, versus eliminates, the impact of currency. Refer to note 16, "Derivative Financial Instruments," for additional information on foreign exchange risk. ** Prior year amounts include an unrealized loss on the cash-settled swap related to the Kyndryl retained shares of $88 million recognized in the second quarter of 2022. Refer to note 16, "Derivative Financial Instruments," for additional information. + Prior year amounts include an unrealized loss on Kyndryl retained shares of $56 million and $278 million for the three and six months ended June 30, 2022, respectively. Refer to note 5, "Acquisitions & Divestitures," for additional information. ++ Other primarily consists of (gains)/losses from divestitures and dispositions of land/buildings. Prior year amounts include a pre-tax gain of $232 million recognized in the second quarter of 2022 related to the divestiture of IBM's healthcare software assets.

Earnings_(Loss) Per Share of Co

Earnings/(Loss) Per Share of Common Stock	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings/(Loss) Per Share of Common Stock	Earnings/(Loss) Per Share of Common Stock : The following tables provide the computation of basic and diluted earnings per share of common stock for the three and six months ended June 30, 2023 and 2022. (Dollars in millions except per share amounts) For the three months ended June 30: 2023 2022 Number of shares on which basic earnings per share is calculated: Weighted-average shares outstanding during period 909,855,943 901,470,793 Add — Incremental shares under stock-based compensation plans 7,584,035 7,518,749 Add — Incremental shares associated with contingently issuable shares 2,012,519 1,760,192 Number of shares on which diluted earnings per share is calculated 919,452,496 910,749,734 Income from continuing operations $ 1,581 $ 1,465 Income/(loss) from discontinued operations, net of tax 2 (73) Net income on which basic earnings per share is calculated $ 1,583 $ 1,392 Income from continuing operations $ 1,581 $ 1,465 Net income applicable to contingently issuable shares — — Income from continuing operations on which diluted earnings per share is calculated $ 1,581 $ 1,465 Income/(loss) from discontinued operations, net of tax, on which diluted earnings per share is calculated 2 (73) Net income on which diluted earnings per share is calculated $ 1,583 $ 1,392 Earnings/(loss) per share of common stock: Assuming dilution Continuing operations $ 1.72 $ 1.61 Discontinued operations 0.00 (0.08) Total $ 1.72 $ 1.53 Basic Continuing operations $ 1.74 $ 1.62 Discontinued operations 0.00 (0.08) Total $ 1.74 $ 1.54 Stock options to purchase 5,541,485 shares and 788,500 shares were outstanding as of June 30, 2023 and 2022, respectively, but were not included in the computation of diluted earnings per share because the exercise price of the options during the respective period was greater than the average market price of the common shares, and therefore, the effect would have been antidilutive. (Dollars in millions except per share amounts) For the six months ended June 30: 2023 2022 Number of shares on which basic earnings per share is calculated: Weighted-average shares outstanding during period 908,691,415 900,393,410 Add — Incremental shares under stock-based compensation plans 8,096,637 7,946,998 Add — Incremental shares associated with contingently issuable shares 1,860,836 1,647,528 Number of shares on which diluted earnings per share is calculated 918,648,888 909,987,935 Income from continuing operations $ 2,515 $ 2,127 Income/(loss) from discontinued operations, net of tax (4) (2) Net income on which basic earnings per share is calculated $ 2,511 $ 2,125 Income from continuing operations $ 2,515 $ 2,127 Net income applicable to contingently issuable shares — — Income from continuing operations on which diluted earnings per share is calculated $ 2,515 $ 2,127 Income/(loss) from discontinued operations, net of tax, on which diluted earnings per share is calculated (4) (2) Net income on which diluted earnings per share is calculated $ 2,511 $ 2,125 Earnings/(loss) per share of common stock: Assuming dilution Continuing operations $ 2.74 $ 2.34 Discontinued operations 0.00 0.00 Total $ 2.73 $ 2.34 Basic Continuing operations $ 2.77 $ 2.36 Discontinued operations 0.00 0.00 Total $ 2.76 $ 2.36 Stock options to purchase 3,251,207 shares and 975,911 shares (average of first and second quarter share amounts) were outstanding as of June 30, 2023 and 2022, respectively, but were not included in the computation of diluted earnings per share because the exercise price of the options during the respective period was greater than the average market price of the common shares, and therefore, the effect would have been antidilutive.

Financial Assets & Liabilities

Financial Assets & Liabilities	6 Months Ended
	Jun. 30, 2023
Investments, All Other Investments [Abstract]
Financial Assets & Liabilities	Financial Assets & Liabilities: Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The company classifies certain assets and liabilities based on the following fair value hierarchy: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that can be accessed at the measurement date; • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and • Level 3 – Unobservable inputs for the asset or liability. When available, the company uses unadjusted quoted market prices in active markets to measure the fair value and classifies such items as Level 1. If quoted market prices are not available, fair value is based upon internally developed models that use current market-based or independently sourced market parameters such as interest rates and currency rates. Items valued using internally generated models are classified according to the lowest level input or value driver that is significant to the valuation. The determination of fair value considers various factors including interest rate yield curves and time value underlying the financial instruments. For derivatives and debt securities, the company uses a discounted cash flow analysis using discount rates commensurate with the duration of the instrument. In determining the fair value of financial instruments, the company considers certain market valuation adjustments to the “base valuations” calculated using the methodologies described below for several parameters that market participants would consider in determining fair value: • Counterparty credit risk adjustments are applied to financial instruments, taking into account the actual credit risk of a counterparty as observed in the credit default swap market to determine the true fair value of such an instrument. • Credit risk adjustments are applied to reflect the company’s own credit risk when valuing all liabilities measured at fair value. The methodology is consistent with that applied in developing counterparty credit risk adjustments, but incorporates the company’s own credit risk as observed in the credit default swap market. The company holds investments primarily in time deposits, certificates of deposit, and U.S. government debt that are designated as available-for-sale. The primary objective of the company’s cash and debt investment portfolio is to protect principal by investing in very liquid investment securities with highly rated counterparties. The company’s standard practice is to hold all of its debt security investments classified as available-for-sale until maturity. No impairments for credit losses and no material non-credit impairments were recorded for the three and six months ended June 30, 2023. Certain non-financial assets such as property, plant and equipment, operating right-of-use assets, land, goodwill and intangible assets are also subject to nonrecurring fair value measurements if they are deemed to be impaired. The impairment models used for non-financial assets depend on the type of asset. There were no material impairments of non-financial assets for the three and six months ended June 30, 2023 and 2022, respectively. The following table presents the company’s financial assets and financial liabilities that are measured at fair value on a recurring basis at June 30, 2023 and December 31, 2022. Fair Value At June 30, 2023 At December 31, 2022 (Dollars in millions) Assets (5) Liabilities (6) Assets (5) Liabilities (6) Cash equivalents: (1) Time deposits and certificates of deposit (2) 2 $ 4,383 N/A $ 3,712 N/A Money market funds 1 399 N/A 306 N/A Total cash equivalents $ 4,782 N/A $ 4,018 N/A Debt securities-current (2)(3) 2 6,904 N/A 852 N/A Debt securities-noncurrent (2)(4) 2,3 33 N/A 31 N/A Derivatives designated as hedging instruments: Interest rate contracts 2 0 400 3 336 Foreign exchange contracts 2 342 374 184 674 Derivatives not designated as hedging instruments: Foreign exchange contracts 2 14 47 42 16 Equity contracts 2 21 4 49 8 Total $ 12,096 $ 824 $ 5,179 $ 1,034 (1) Included within cash and cash equivalents in the Consolidated Balance Sheet. (2) Available-for-sale debt securities with carrying values that approximate fair value. (3) U.S. treasury bills and term deposits that are reported within marketable securities in the Consolidated Balance Sheet. The June 30, 2023 balance includes proceeds from the first quarter 2023 debt issuances. See note 12, "Borrowings," for additional information. (4) Includes immaterial activity related to private company investments reported within investments and sundry assets in the Consolidated Balance Sheet. (5) The gross balances of derivative assets contained within prepaid expenses and other current assets, and investments and sundry assets in the Consolidated Balance Sheet at June 30, 2023 were $369 million and $8 million, respectively, and at December 31, 2022 were $271 million and $7 million, respectively. (6) The gross balances of derivative liabilities contained within other accrued expenses and liabilities, and other liabilities in the Consolidated Balance Sheet at June 30, 2023 were $274 million and $551 million, respectively, and at December 31, 2022 were $546 million and $488 million, respectively. N/A – not applicable Financial Assets and Liabilities Not Measured at Fair Value Short-Term Receivables and Payables Short-term receivables (excluding the current portion of long-term receivables) and other investments are financial assets with carrying values that approximate fair value. Accounts payable, other accrued expenses and short-term debt (excluding the current portion of long-term debt) are financial liabilities with carrying values that approximate fair value. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy, except for short-term debt which would be classified as Level 2. Loans and Long-Term Receivables Fair values are based on discounted future cash flows using current interest rates offered for similar loans to clients with similar credit ratings for the same remaining maturities. At June 30, 2023 and December 31, 2022, the difference between the carrying amount and estimated fair value for loans and long-term receivables was immaterial. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy. Long-Term Debt Fair value of publicly traded long-term debt is based on quoted market prices for the identical liability when traded as an asset in an active market. For other long-term debt (including long-term finance lease liabilities) for which a quoted market price is not available, an expected present value technique that uses rates currently available to the company for debt with similar terms and remaining maturities is used to estimate fair value. The carrying amount of long-term debt was $50,691 million and $46,189 million, and the estimated fair value was $47,250 million and $42,514 million at June 30, 2023 and December 31, 2022, respectively. If measured at fair value in the financial statements, long-term debt (including the current portion) would be classified as Level 2 in the fair value hierarchy.

Financing Receivables

Financing Receivables	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Financing Receivables	Financing Receivables: Financing receivables primarily consist of client loan and installment payment receivables (loans), investment in sales-type and direct financing leases (collectively referred to as client financing receivables) and commercial financing receivables. Loans are provided primarily to clients to finance the purchase of hardware, software and services. Payment terms on these financing arrangements are for terms up to seven years. Investment in sales-type and direct financing leases relate principally to the company’s Infrastructure products and are for terms ranging generally from two A summary of the components of the company’s financing receivables is presented as follows: Client Financing Receivables Client Loan and Installment Payment Receivables Investment in Sales-Type and Direct Financing Commercial Financing Receivables (Dollars in millions) Held for Held for At June 30, 2023 (Loans) Leases Investment Sale* Total Financing receivables, gross $ 7,262 $ 3,853 $ 251 $ 865 $ 12,230 Unearned income (436) (377) — — (813) Unguaranteed residual value — 404 — — 404 Amortized cost $ 6,826 $ 3,880 $ 251 $ 865 $ 11,821 Allowance for credit losses (104) (62) (5) — (171) Total financing receivables, net $ 6,722 $ 3,818 $ 245 $ 865 $ 11,650 Current portion $ 3,925 $ 1,393 $ 245 $ 865 $ 6,429 Noncurrent portion $ 2,796 $ 2,425 $ — $ — $ 5,221 Client Financing Receivables Client Loan and Installment Payment Receivables Investment in Sales-Type and Direct Financing Commercial Financing Receivables (Dollars in millions) Held for Held for At December 31, 2022 (Loans) Leases Investment Sale* Total Financing receivables, gross $ 8,875 $ 4,023 $ 299 $ 939 $ 14,136 Unearned income (439) (351) — — (790) Unguaranteed residual value — 422 — — 422 Amortized cost $ 8,437 $ 4,094 $ 299 $ 939 $ 13,769 Allowance for credit losses (108) (60) (5) — (173) Total financing receivables, net $ 8,329 $ 4,034 $ 293 $ 939 $ 13,596 Current portion $ 5,073 $ 1,485 $ 293 $ 939 $ 7,790 Noncurrent portion $ 3,256 $ 2,549 $ — $ — $ 5,806 * The carrying value of the receivables classified as held for sale approximates fair value. The company has a long-standing practice of taking mitigation actions, in certain circumstances, to transfer credit risk to third parties. These actions may include credit insurance, financial guarantees, nonrecourse secured borrowings, transfers of receivables recorded as true sales in accordance with accounting guidance or sales of equipment under operating lease. Sale of receivables arrangements are also utilized in the normal course of business as part of the company’s cash and liquidity management. Financing receivables pledged as collateral for secured borrowings were $251 million and $349 million at June 30, 2023 and December 31, 2022, respectively. These borrowings are included in note 12, “Borrowings.” Transfer of Financial Assets The company has an existing agreement with a third-party investor to sell IBM short-term commercial financing receivables on a revolving basis. In addition, the company enters into agreements with third-party financial institutions to sell certain of its client financing receivables, including both loan and lease receivables, for cash proceeds. There were no material client financing receivables transferred for the six months ended June 30, 2023 and 2022. The following table presents the total amount of commercial financing receivables transferred. (Dollars in millions) For the six months ended June 30: 2023 2022 Commercial financing receivables: Receivables transferred during the period $ 4,345 $ 3,914 Receivables uncollected at end of period* $ 928 $ 815 * Of the total amount of commercial financing receivables sold and derecognized from the Consolidated Balance Sheet, the amounts presented remained uncollected from business partners as of June 30, 2023 and 2022. The transfer of these receivables qualified as true sales and therefore reduced financing receivables. The cash proceeds from the sales are included in cash flows from operating activities. For the six months ended June 30, 2023 and 2022, the net loss, including fees, associated with the transfer of commercial financial receivables was $45 million and $22 million, respectively, and is included in other (income) and expense in the Consolidated Income Statement. Financing Receivables by Portfolio Segment The following tables present the amortized cost basis for client financing receivables at June 30, 2023 and December 31, 2022, further segmented by three classes: Americas, Europe/Middle East/Africa (EMEA) and Asia Pacific. The commercial financing receivables portfolio segment is excluded from the tables in the sections below as the receivables are short term in nature and the current estimated risk of loss and resulting impact to the company’s financial results are not material. (Dollars in millions) At June 30, 2023: Americas EMEA Asia Pacific Total Amortized cost $ 6,317 $ 3,019 $ 1,370 $ 10,705 Allowance for credit losses: Beginning balance at January 1, 2023 $ 88 $ 60 $ 20 $ 168 Write-offs $ (3) $ 0 $ 0 $ (4) Recoveries — 0 0 1 Additions/(releases) 6 (12) 0 (6) Other* 7 $ 0 (1) 7 Ending balance at June 30, 2023 $ 98 $ 48 $ 19 $ 165 (Dollars in millions) At December 31, 2022: Americas EMEA Asia Pacific Total Amortized cost $ 7,281 $ 3,546 $ 1,704 $ 12,531 Allowance for credit losses: Beginning balance at January 1, 2022 $ 111 $ 61 $ 23 $ 195 Write-offs $ (20) $ (3) $ (2) $ (25) Recoveries 1 0 4 5 Additions/(releases) (5) 6 (4) (3) Other* 2 (5) (2) (4) Ending balance at December 31, 2022 $ 88 $ 60 $ 20 $ 168 * Primarily represents translation adjustments. When determining the allowances, financing receivables are evaluated either on an individual or a collective basis. For the company’s policy on determining allowances for credit losses, refer to note A, “Significant Accounting Policies,” in the company’s 2022 Annual Report. Past Due Financing Receivables The company summarizes information about the amortized cost basis for client financing receivables, including amortized cost aged over 90 days and still accruing, billed invoices aged over 90 days and still accruing, and amortized cost not accruing. (Dollars in millions) Total Amortized Amortized Billed Amortized At June 30, 2023: Americas $ 6,317 $ 147 $ 72 $ 6 $ 77 EMEA 3,019 35 4 1 31 Asia Pacific 1,370 17 2 1 16 Total client financing receivables $ 10,705 $ 200 $ 78 $ 8 $ 124 (Dollars in millions) Total Amortized Amortized Billed Amortized At December 31, 2022: Americas $ 7,281 $ 272 $ 198 $ 22 $ 74 EMEA 3,546 52 8 1 46 Asia Pacific 1,704 20 3 1 17 Total client financing receivables $ 12,531 $ 344 $ 208 $ 23 $ 137 * At a contract level, which includes total billed and unbilled amounts for financing receivables aged greater than 90 days. ** Of the amortized cost not accruing, there was a related allowance of $121 million and $122 million at June 30, 2023 and December 31, 2022, respectively. Financing income recognized on these receivables was immaterial for the three and six months ended June 30, 2023, respectively. Credit Quality Indicators The company’s credit quality indicators, which are based on rating agency data, publicly available information and information provided by customers, are reviewed periodically based on the relative level of risk. The resulting indicators are a numerical rating system that maps to Moody’s Investors Service credit ratings as shown below. The company uses information provided by Moody’s, where available, as one of many inputs in its determination of customer credit ratings. The credit quality of the customer is evaluated based on these indicators and is assigned the same risk rating whether the receivable is a lease or a loan. The following tables present the amortized cost basis for client financing receivables by credit quality indicator at June 30, 2023 and December 31, 2022, respectively. Receivables with a credit quality indicator ranging from Aaa to Baa3 are considered investment grade. All others are considered non-investment grade. The credit quality indicators reflect mitigating credit enhancement actions taken by customers which reduce the risk to IBM. Gross write-offs by vintage year at June 30, 2023 were not material. (Dollars in millions) Americas EMEA Asia Pacific At June 30, 2023: Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Vintage year: 2023 $ 1,011 $ 466 $ 438 $ 307 $ 248 $ 53 2022 2,363 507 895 498 476 60 2021 887 231 336 110 146 48 2020 337 161 145 99 140 30 2019 179 46 79 56 75 13 2018 and prior 63 65 18 37 57 24 Total $ 4,841 $ 1,476 $ 1,911 $ 1,108 $ 1,142 $ 227 (Dollars in millions) Americas EMEA Asia Pacific At December 31, 2022: Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Vintage year: 2022 $ 3,316 $ 1,097 $ 1,447 $ 704 $ 799 $ 96 2021 1,197 323 451 159 203 65 2020 559 217 258 158 210 49 2019 251 91 161 99 127 22 2018 128 26 42 16 84 21 2017 and prior 32 45 14 38 12 17 Total $ 5,482 $ 1,800 $ 2,373 $ 1,173 $ 1,434 $ 269 Modifications and Troubled Debt Restructurings The company did not have any significant modifications due to financial difficulty during the six months ended June 30, 2023. The company did not have any significant troubled debt restructurings during the year ended December 31, 2022.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases: Accounting for Leases as a Lessor The following table presents amounts included in the Consolidated Income Statement related to lessor activity. Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Lease income — sales-type and direct financing leases: Sales-type lease selling price $ 248 $ 735 $ 338 $ 789 Less: Carrying value of underlying assets* (61) (120) (91) (139) Gross profit $ 187 $ 615 $ 247 $ 651 Interest income on lease receivables 59 45 118 90 Total sales-type and direct financing lease income $ 246 $ 660 $ 365 $ 741 Lease income — operating leases 25 27 51 56 Variable lease income 14 28 35 56 Total lease income $ 284 $ 715 $ 451 $ 853 * Excludes unguaranteed residual value. Sales-type lease revenue was $284 million and $451 million for the three and six months ended June 30, 2023, respectively, compared to $715 million and $853 million for the three and six months ended June 30, 2022, respectively. The decreases in both the three and six month periods were predominantly due to the zSystems product cycle dynamics.
Leases	Leases: Accounting for Leases as a Lessor The following table presents amounts included in the Consolidated Income Statement related to lessor activity. Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Lease income — sales-type and direct financing leases: Sales-type lease selling price $ 248 $ 735 $ 338 $ 789 Less: Carrying value of underlying assets* (61) (120) (91) (139) Gross profit $ 187 $ 615 $ 247 $ 651 Interest income on lease receivables 59 45 118 90 Total sales-type and direct financing lease income $ 246 $ 660 $ 365 $ 741 Lease income — operating leases 25 27 51 56 Variable lease income 14 28 35 56 Total lease income $ 284 $ 715 $ 451 $ 853 * Excludes unguaranteed residual value. Sales-type lease revenue was $284 million and $451 million for the three and six months ended June 30, 2023, respectively, compared to $715 million and $853 million for the three and six months ended June 30, 2022, respectively. The decreases in both the three and six month periods were predominantly due to the zSystems product cycle dynamics.

Intangible Assets Including Goo

Intangible Assets Including Goodwill	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Including Goodwill	Intangible Assets Including Goodwill: Intangible Assets The following tables present the company's intangible asset balances by major asset class. At June 30, 2023 (Dollars in millions) Gross Carrying Accumulated Net Carrying Intangible asset class: Capitalized software $ 1,622 $ (707) $ 915 Client relationships 8,274 (3,056) 5,217 Completed technology 5,131 (2,174) 2,957 Patents/trademarks 1,781 (378) 1,403 Other** 19 (16) 3 Total $ 16,827 $ (6,331) $ 10,496 At December 31, 2022 (Dollars in millions) Gross Carrying Accumulated Net Carrying Intangible asset class: Capitalized software $ 1,650 $ (705) $ 945 Client relationships 8,559 (2,951) 5,608 Completed technology 5,220 (2,045) 3,175 Patents/trademarks 2,140 (688) 1,452 Other** 19 (15) 4 Total $ 17,588 $ (6,404) $ 11,184 * Amounts as of June 30, 2023 and December 31, 2022 include an increase in net intangible asset balances of $24 million and a decrease in net intangible asset balances of $198 million, respectively, due to foreign currency translation. ** Other intangibles are primarily acquired proprietary and non-proprietary business processes, methodologies and systems. The net carrying amount of intangible assets decreased $688 million during the first six months of 2023, primarily due to intangible asset amortization, partially offset by additions of capitalized software and acquired intangibles. The aggregate intangible asset amortization expense was $556 million and $1,104 million for the second quarter and first six months of 2023, respectively, compared to $625 million and $1,251 million for the second quarter and first six months of 2022, respectively. In the first six months of 2023, the company retired $1,189 million of fully amortized intangible assets, impacting both the gross carrying amount and accumulated amortization by this amount. The future amortization expense relating to intangible assets currently recorded in the Consolidated Balance Sheet was estimated to be the following at June 30, 2023: (Dollars in millions) Capitalized Acquired Total Remainder of 2023 $ 303 $ 786 $ 1,089 2024 410 1,557 1,967 2025 175 1,538 1,713 2026 27 1,515 1,542 2027 — 1,496 1,496 Thereafter — 2,688 2,688 Goodwill The changes in the goodwill balances by segment for the six months ended June 30, 2023 and for the year ended December 31, 2022 were as follows: (Dollars in millions) Balance Goodwill Purchase Foreign Balance Segment 1/1/2023 Divestitures 6/30/2023 Software $ 43,657 $ 267 $ (7) $ — $ 88 $ 44,005 Consulting 7,928 23 6 — 43 8,000 Infrastructure 4,363 12 — — 4 4,380 Other — — — — — — Total $ 55,949 $ 302 $ (1) $ — $ 136 $ 56,385 (Dollars in millions) Balance Goodwill Purchase Foreign Balance Segment 1/1/2022 Divestitures 12/31/2022 Software $ 43,966 $ 568 $ (118) $ — $ (760) $ 43,657 Consulting 6,797 1,366 (42) — (192) 7,928 Infrastructure 4,396 — — (1) (32) 4,363 Other** 484 — — (484) — — Total $ 55,643 $ 1,934 $ (159) $ (485) $ (984) $ 55,949 * Primarily driven by foreign currency translation. ** The company derecognized goodwill related to the divestiture of its healthcare software assets in the second quarter of 2022. There were no goodwill impairment losses recorded during the first six months of 2023 or full-year 2022 and the company has no accumulated impairment losses. Purchase price adjustments recorded in the first six months of 2023 and full-year 2022 were related to acquisitions that were still subject to the measurement period that ends at the earlier of 12 months from the acquisition date or when information becomes available. Net purchase price adjustments recorded in the first six months of 2023 were not material. Net purchase price adjustments recorded in 2022 primarily related to deferred tax assets and liabilities associated with the Turbonomic acquisition.

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Borrowings	Borrowings: Short-Term Debt (Dollars in millions) At June 30, 2023 At December 31, 2022 Short-term loans $ 5 $ 8 Long-term debt — current maturities 6,780 4,751 Total $ 6,785 $ 4,760 The weighted-average interest rate for short-term loans was 8.6 percent and 7.6 percent at June 30, 2023 and December 31, 2022, respectively. Long-Term Debt Pre-Swap Borrowing Balance Balance (Dollars in millions) Maturities 6/30/2023 12/31/2022 U.S. dollar debt (weighted-average interest rate at June 30, 2023):* 3.4% 2023 $ 1,508 $ 1,529 3.3% 2024 5,005 5,009 5.1% 2025 1,602 1,603 3.5% 2026 5,201 4,351 3.1% 2027 3,620 3,620 5.0% 2028 1,313 313 3.5% 2029 3,250 3,250 2.0% 2030 1,350 1,350 4.4% 2032 1,850 1,850 4.8% 2033 750 — 8.0% 2038 83 83 4.5% 2039 2,745 2,745 2.9% 2040 650 650 4.0% 2042 1,107 1,107 7.0% 2045 27 27 4.7% 2046 650 650 4.3% 2049 3,000 3,000 3.0% 2050 750 750 4.2% 2052 1,400 1,400 5.1% 2053 650 — 7.1% 2096 316 316 $ 36,828 $ 33,605 Other currencies (weighted-average interest rate at June 30, 2023, in parentheses):* Euro (1.8%) 2024–2043 $ 19,095 $ 17,087 Pound sterling (4.9%) 2038 954 — Japanese yen (0.5%) 2024–2028 1,221 694 Other (16.1%) 2023–2026 272 361 $ 58,369 $ 51,747 Finance lease obligations (3.9%) 2023–2030 268 239 $ 58,637 $ 51,986 Less: net unamortized discount 859 835 Less: net unamortized debt issuance costs 164 138 Add: fair value adjustment** (144) (73) $ 57,471 $ 50,940 Less: current maturities 6,780 4,751 Total $ 50,691 $ 46,189 * Includes notes, debentures, bank loans and secured borrowings. ** The portion of the company’s fixed-rate debt obligations that is hedged is reflected in the Consolidated Balance Sheet as an amount equal to the sum of the debt’s carrying value and a fair value adjustment representing changes in the fair value of the hedged debt obligations attributable to movements in benchmark interest rates. The company’s indenture governing its debt securities and its various credit facilities each contain significant covenants which obligate the company to promptly pay principal and interest, limit the aggregate amount of secured indebtedness and sale and leaseback transactions to 10 percent of the company’s consolidated net tangible assets, and restrict the company’s ability to merge or consolidate unless certain conditions are met. The credit facilities also include a covenant on the company’s consolidated net interest expense ratio, which cannot be less than 2.20 to 1.0, as well as a cross default provision with respect to other defaulted indebtedness of at least $500 million. The company is in compliance with its debt covenants and provides periodic certifications to its lenders. The failure to comply with its debt covenants could constitute an event of default with respect to the debt to which such provisions apply. If certain events of default were to occur, the principal and interest on the debt to which such event of default applied would become immediately due and payable. In the first quarter of 2023, the company issued $0.7 billion of Japanese yen floating-rate syndicated bank loans with a maturity of 5 years; $4.6 billion of Euro fixed-rate notes in tranches with maturities ranging from 4 to 20 years and coupons ranging from 3.375 percent to 4 percent; $0.9 billion of Pound sterling fixed-rate notes with a maturity of 15 years and a coupon of 4.875 percent; and $3.25 billion of U.S. dollar fixed-rate notes in tranches with maturities ranging from 3 to 30 years and coupons ranging from 4.5 to 5.1 percent. Pre-swap annual contractual obligations of long-term debt outstanding at June 30, 2023, were as follows: (Dollars in millions) Total Remainder of 2023 $ 1,668 2024 6,364 2025 4,962 2026 5,534 2027 5,829 Thereafter 34,280 Total $ 58,637 Interest on Debt (Dollars in millions) For the six months ended June 30: 2023 2022 Cost of financing $ 173 $ 165 Interest expense 790 607 Interest capitalized 6 2 Total interest paid and accrued $ 969 $ 775 Lines of Credit On June 15, 2023, the company amended its existing $2.5 billion Three-Year Credit Agreement and $7.5 billion Five-Year Credit Agreement (the Credit Agreements) to extend the maturity dates to June 20, 2026 and June 22, 2028, respectively . The Credit Agreements permit the company and its subsidiary borrowers to borrow up to $10 billion on a revolving basis. At June 30, 2023, there were no borrowings by the company, or its subsidiaries, under these credit facilities.

Commitments

Commitments	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments: The company’s extended lines of credit to third-party entities include unused amounts of $1.2 billion and $1.6 billion at June 30, 2023 and December 31, 2022, respectively. A portion of these amounts was available to the company’s business partners to support their working capital needs. In addition, the company has committed to provide future financing to its clients in connection with client purchase agreements for $1.7 billion and $2.1 billion at June 30, 2023 and December 31, 2022, respectively. The reduction in the future financing commitments is primarily due to lower services financing in the current year. The company collectively evaluates the allowance for these arrangements using a provision methodology consistent with the portfolio of the commitments. Refer to note A, “Significant Accounting Policies,” in the company’s 2022 Annual Report for additional information. The allowance for these commitments is recorded in other liabilities in the Consolidated Balance Sheet and was not material at June 30, 2023. The company has applied the guidance requiring a guarantor to disclose certain types of guarantees, even if the likelihood of requiring the guarantor’s performance is remote. The following is a description of arrangements in which the company is the guarantor. The company is a party to a variety of agreements pursuant to which it may be obligated to indemnify the other party with respect to certain matters. Typically, these obligations arise in the context of contracts entered into by the company, under which the company customarily agrees to hold the party harmless against losses arising from a breach of representations and covenants related to such matters as title to the assets sold, certain intellectual property rights, specified environmental matters, third-party performance of nonfinancial contractual obligations and certain income taxes. In each of these circumstances, payment by the company is conditioned on the other party making a claim pursuant to the procedures specified in the particular contract, the procedures of which typically allow the company to challenge the other party’s claims. While indemnification provisions typically do not include a contractual maximum on the company’s payment, the company’s obligations under these agreements may be limited in terms of time and/or nature of claim, and in some instances, the company may have recourse against third parties for certain payments made by the company. It is not possible to predict the maximum potential amount of future payments under these or similar agreements due to the conditional nature of the company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the company under these agreements have not had a material effect on the company’s business, financial condition or results of operations. In addition, the company guarantees certain loans and financial commitments. The maximum potential future payment under these financial guarantees and the fair value of these guarantees recognized in the Consolidated Balance Sheet at June 30, 2023 and December 31, 2022 was not material. Changes in the company’s warranty liability for standard warranties, which are included in other accrued expenses and liabilities and other liabilities in the Consolidated Balance Sheet, and for extended warranty contracts, which are included in deferred income in the Consolidated Balance Sheet, are presented in the following tables. Standard Warranty Liability (Dollars in millions) 2023 2022 Balance at January 1 $ 79 $ 77 Current-period accruals 35 39 Accrual adjustments to reflect actual experience (14) (1) Charges incurred (43) (41) Balance at June 30 $ 57 $ 74 Extended Warranty Liability (Dollars in millions) 2023 2022 Balance at January 1 $ 272 $ 350 Revenue deferred for new extended warranty contracts 20 84 Amortization of deferred revenue (73) (83) Other* (1) (12) Balance at June 30 $ 218 $ 339 Current portion $ 119 $ 172 Noncurrent portion $ 99 $ 167 * Other primarily consists of foreign currency translation adjustments.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies: As a company with a substantial employee population and with clients in more than 175 countries, IBM is involved, either as plaintiff or defendant, in a variety of ongoing claims, demands, suits, investigations, tax matters and proceedings that arise from time to time in the ordinary course of its business. The company is a leader in the information technology industry and, as such, has been and will continue to be subject to claims challenging its IP rights and associated products and offerings, including claims of copyright and patent infringement and violations of trade secrets and other IP rights. In addition, the company enforces its own IP against infringement, through license negotiations, lawsuits or otherwise. Further, given the rapidly evolving external landscape of cybersecurity, privacy and data protection laws, regulations and threat actors, the company and its clients have been and will continue to be subject to actions or proceedings in various jurisdictions. Also, as is typical for companies of IBM’s scope and scale, the company is party to actions and proceedings in various jurisdictions involving a wide range of labor and employment issues (including matters related to contested employment decisions, country-specific labor and employment laws, and the company’s pension, retirement and other benefit plans), as well as actions with respect to contracts, product liability, securities, foreign operations, competition law and environmental matters. These actions may be commenced by a number of different parties, including competitors, clients, current or former employees, government and regulatory agencies, stockholders and representatives of the locations in which the company does business. Some of the actions to which the company is party may involve particularly complex technical issues, and some actions may raise novel questions under the laws of the various jurisdictions in which these matters arise. The company records a provision with respect to a claim, suit, investigation or proceeding when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Any recorded liabilities, including any changes to such liabilities for the quarter ended June 30, 2023 were not material to the Consolidated Financial Statements. In accordance with the relevant accounting guidance, the company provides disclosures of matters for which the likelihood of material loss is at least reasonably possible. In addition, the company also discloses matters based on its consideration of other matters and qualitative factors, including the experience of other companies in the industry, and investor, customer and employee relations considerations. With respect to certain of the claims, suits, investigations and proceedings discussed herein, the company believes at this time that the likelihood of any material loss is remote, given, for example, the procedural status, court rulings, and/or the strength of the company’s defenses in those matters. With respect to the remaining claims, suits, investigations and proceedings discussed in this note, except as specifically discussed herein, the company is unable to provide estimates of reasonably possible losses or range of losses, including losses in excess of amounts accrued, if any, for the following reasons. Claims, suits, investigations and proceedings are inherently uncertain, and it is not possible to predict the ultimate outcome of these matters. It is the company’s experience that damage amounts claimed in litigation against it are unreliable and unrelated to possible outcomes, and as such are not meaningful indicators of the company’s potential liability. Further, the company is unable to provide such an estimate due to a number of other factors with respect to these claims, suits, investigations and proceedings, including considerations of the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. The company reviews claims, suits, investigations and proceedings at least quarterly, and decisions are made with respect to recording or adjusting provisions and disclosing reasonably possible losses or range of losses (individually or in the aggregate), to reflect the impact and status of settlement discussions, discovery, procedural and substantive rulings, reviews by counsel and other information pertinent to a particular matter. Whether any losses, damages or remedies finally determined in any claim, suit, investigation or proceeding could reasonably have a material effect on the company’s business, financial condition, results of operations or cash flows will depend on a number of variables, including: the timing and amount of such losses or damages; the structure and type of any such remedies; the significance of the impact any such losses, damages or remedies may have in the Consolidated Financial Statements; and the unique facts and circumstances of the particular matter that may give rise to additional factors. While the company will continue to defend itself vigorously, it is possible that the company’s business, financial condition, results of operations or cash flows could be affected in any particular period by the resolution of one or more of these matters. The following is a summary of the more significant legal matters involving the company. On June 8, 2021, IBM sued GlobalFoundries U.S. Inc. (GF) in New York State Supreme Court for claims including fraud and breach of contract relating to a long-term strategic relationship between IBM and GF for researching, developing, and manufacturing advanced semiconductor chips for IBM. GF walked away from its obligations and IBM is now suing to recover amounts paid to GF, and other compensatory and punitive damages, totaling more than $1.5 billion. On September 14, 2021, the court ruled on GF’s motion to dismiss. On April 7, 2022, the Appellate Division unanimously reversed the lower court’s dismissal of IBM’s fraud claim. IBM’s claims for breaches of contract, promissory estoppel, and fraud are proceeding. On April 5, 2022, a putative securities law class action was commenced in the United States District Court for the Southern District of New York alleging that during the period from April 4, 2017 through October 20, 2021, certain strategic imperatives revenues were misclassified. The company, two current IBM senior executives, and two former IBM senior executives are named as defendants. On June 23, 2022, the court entered an order appointing Iron Workers Local 580 Joint Funds as lead plaintiff. On September 21, 2022, the plaintiff voluntarily dismissed the case, without prejudice. On January 13, 2023, a putative securities law class action making allegations substantially similar to those in the dismissed case was filed in the same court. On April 4, 2023, the court entered an order appointing June E. Adams Irrevocable Trust Dated 7/21/14 FBO Edward Adams, the same entity that filed the since dismissed April 5, 2022 class action, as lead plaintiff. On June 5, 2023, the plaintiff voluntarily dismissed the case, with prejudice. On June 2, 2022, a putative class action lawsuit was filed in the United States District Court for the Southern District of New York alleging that the IBM Pension Plan miscalculated certain joint and survivor annuity pension benefits by using outdated actuarial tables in violation of the Employee Retirement Income Security Act of 1974. IBM, the Plan Administrator Committee, and the IBM Pension Plan are named as defendants. As disclosed in the Kyndryl Form 10 and subsequent Kyndryl public filings, in 2017 BMC Software, Inc. (BMC) filed suit against IBM in the United States District Court for the Southern District of Texas in a dispute involving IBM’s former managed infrastructure services business. On May 30, 2022, the trial court awarded BMC $718 million in direct damages and $718 million in punitive damages, plus interest and fees. IBM filed a notice of appeal. IBM does not believe it has any material exposure relating to this litigation. No material liability or related indemnification asset has been recorded by IBM. The company is party to, or otherwise involved in, proceedings brought by U.S. federal or state environmental agencies under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), known as “Superfund,” or laws similar to CERCLA. Such statutes require potentially responsible parties to participate in remediation activities regardless of fault or ownership of sites. The company is also conducting environmental investigations, assessments or remediations at or in the vicinity of several current or former operating sites globally pursuant to permits, administrative orders or agreements with country, state or local environmental agencies, and is involved in lawsuits and claims concerning certain current or former operating sites. The company is also subject to ongoing tax examinations and governmental assessments in various jurisdictions. Along with many other U.S. companies doing business in Brazil, the company is involved in various challenges with Brazilian tax authorities regarding non-income tax assessments and non-income tax litigation matters. The total potential amount related to all these matters for all applicable years is approximately $450 million. The company believes it will prevail on these matters and that this amount is not a meaningful indicator of liability.

Equity Activity

Equity Activity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Equity Activity	Equity Activity: Reclassifications and Taxes Related to Items of Other Comprehensive Income (Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the three months ended June 30, 2023: Other comprehensive income/(loss): Foreign currency translation adjustments $ 116 $ (34) $ 82 Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ (17) $ 4 $ (12) Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ (17) $ 4 $ (12) Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 178 $ (48) $ 130 Reclassification of (gains)/losses to: Cost of services 3 (1) 2 Cost of sales (2) 1 (1) Cost of financing 4 (1) 3 SG&A expense (1) 0 0 Other (income) and expense (55) 14 (41) Interest expense 22 (5) 16 Total unrealized gains/(losses) on cash flow hedges $ 148 $ (40) $ 109 Retirement-related benefit plans:* Prior service costs/(credits) $ — $ 0 $ 0 Net (losses)/gains arising during the period 0 7 7 Curtailments and settlements 6 (1) 5 Amortization of prior service (credits)/costs (2) 1 (2) Amortization of net (gains)/losses 130 (38) 92 Total retirement-related benefit plans $ 134 $ (31) $ 102 Other comprehensive income/(loss) $ 381 $ (101) $ 280 * These accumulated other comprehensive income (AOCI) components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information. Reclassifications and Taxes Related to Items of Other Comprehensive Income (Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the three months ended June 30, 2022: Other comprehensive income/(loss): Foreign currency translation adjustments $ 213 $ (347) $ (134) Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ 0 $ 0 $ 0 Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ 0 $ 0 $ 0 Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 200 $ (53) $ 147 Reclassification of (gains)/losses to: Cost of services (13) 3 (10) Cost of sales (23) 7 (17) Cost of financing 6 (2) 5 SG&A expense (14) 4 (10) Other (income) and expense 38 (10) 29 Interest expense 22 (6) 16 Total unrealized gains/(losses) on cash flow hedges $ 217 $ (56) $ 161 Retirement-related benefit plans:* Prior service costs/(credits) $ — $ 0 $ 0 Net (losses)/gains arising during the period 1 (3) (2) Curtailments and settlements 11 (3) 8 Amortization of prior service (credits)/costs 6 (2) 5 Amortization of net (gains)/losses 450 (125) 325 Total retirement-related benefit plans $ 468 $ (132) $ 336 Other comprehensive income/(loss) $ 897 $ (534) $ 363 * These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information. Reclassifications and Taxes Related to Items of Other Comprehensive Income (Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the six months ended June 30, 2023: Other comprehensive income/(loss): Foreign currency translation adjustments $ 29 $ 22 $ 52 Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ (1) $ 0 $ (1) Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ (1) $ 0 $ (1) Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 149 $ (41) $ 107 Reclassification of (gains)/losses to: Cost of services 5 (1) 4 Cost of sales (17) 5 (12) Cost of financing 9 (2) 7 SG&A expense (10) 3 (7) Other (income) and expense (181) 45 (135) Interest expense 42 (11) 32 Total unrealized gains/(losses) on cash flow hedges $ (3) $ (1) $ (4) Retirement-related benefit plans:* Prior service costs/(credits) $ — $ 1 $ 1 Net (losses)/gains arising during the period 2 7 8 Curtailments and settlements 5 (1) 4 Amortization of prior service (credits)/costs (4) 1 (3) Amortization of net (gains)/losses 261 (76) 185 Total retirement-related benefit plans $ 263 $ (69) $ 194 Other comprehensive income/(loss) $ 289 $ (48) $ 241 * These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information. Reclassifications and Taxes Related to Items of Other Comprehensive Income (Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the six months ended June 30, 2022: Other comprehensive income/(loss): Foreign currency translation adjustments $ 655 $ (483) $ 172 Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ (1) $ 0 $ 0 Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ (1) $ 0 $ 0 Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 260 $ (69) $ 191 Reclassification of (gains)/losses to: Cost of services (28) 7 (21) Cost of sales (35) 10 (25) Cost of financing 12 (3) 9 SG&A expense (20) 5 (14) Other (income) and expense 45 (11) 34 Interest expense 43 (11) 32 Total unrealized gains/(losses) on cash flow hedges $ 276 $ (71) $ 205 Retirement-related benefit plans:* Prior service costs/(credits) $ (5) $ 5 $ 0 Net (losses)/gains arising during the period 10 (7) 3 Curtailments and settlements 19 (5) 14 Amortization of prior service (credits)/costs 13 (3) 10 Amortization of net (gains)/losses 917 (256) 662 Total retirement-related benefit plans $ 954 $ (266) $ 689 Other comprehensive income/(loss) $ 1,885 $ (819) $ 1,066 * These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information. Accumulated Other Comprehensive Income/(Loss) (net of tax) (Dollars in millions) Net Unrealized Foreign Net Change Net Unrealized Accumulated January 1, 2023 $ (135) $ (3,591) $ (13,013) $ (1) $ (16,740) Other comprehensive income before reclassifications 107 52 9 (1) 167 Amount reclassified from accumulated other comprehensive income (112) — 185 — 74 Total change for the period $ (4) $ 52 $ 194 $ (1) $ 241 June 30, 2023 $ (139) $ (3,539) $ (12,819) $ (2) $ (16,499) (Dollars in millions) Net Unrealized Foreign Net Change Net Unrealized Accumulated January 1, 2022 $ (18) $ (3,362) $ (19,854) $ (1) $ (23,234) Other comprehensive income before reclassifications 191 172 3 0 366 Amount reclassified from accumulated other comprehensive income 14 — 686 — 699 Total change for the period $ 205 $ 172 $ 689 $ 0 $ 1,066 June 30, 2022 $ 187 $ (3,189) $ (19,165) $ (1) $ (22,169) * Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments: The company operates in multiple functional currencies and is a significant lender and borrower in the global markets. In the normal course of business, the company is exposed to the impact of interest rate changes and foreign currency fluctuations, and to a lesser extent equity and commodity price changes and client credit risk. The company limits these risks by following established risk management policies and procedures, including the use of derivatives, and, where cost effective, financing with debt in the currencies in which assets are denominated. For interest rate exposures, derivatives are used to better align rate movements between the interest rates associated with the company’s lease and other financial assets and the interest rates associated with its financing debt. Derivatives are also used to manage the related cost of debt. For foreign currency exposures, derivatives are used to better manage the cash flow volatility arising from foreign exchange rate fluctuations. In the Consolidated Balance Sheet, the company does not offset derivative assets against liabilities in master netting arrangements nor does it offset receivables or payables recognized upon payment or receipt of cash collateral against the fair values of the related derivative instruments. At June 30, 2023 and December 31, 2022, the amount recognized in other accounts receivables for the right to reclaim cash collateral was $46 million and $140 million, respectively. At June 30, 2023, there was no amount recognized in accounts payable for the obligation to return cash collateral. At December 31, 2022, the amount recognized in accounts payable for such obligation was $8 million. The company restricts the use of cash collateral received to rehypothecation, and therefore reports it in restricted cash in the Consolidated Balance Sheet. At June 30, 2023, there was no cash collateral rehypothecated. At December 31, 2022, the amount rehypothecated was $8 million. Additionally, if derivative exposures covered by a qualifying master netting agreement had been netted in the Consolidated Balance Sheet at June 30, 2023 and December 31, 2022, the total derivative asset and liability positions each would have been reduced by $267 million and $220 million, respectively. On May 19, 2022, in connection with the disposition of 22.3 million shares of Kyndryl common stock, the company entered into a cash-settled swap that maintained IBM’s continued economic exposure in those shares. The notional value of the swap was $311 million. For the three and six months ended June 30, 2022, an unrealized loss of $88 million was recorded in other (income) and expense in the Consolidated Income Statement. The company settled the swap on November 2, 2022. In its hedging programs, the company may use forward contracts, futures contracts, interest-rate swaps, cross-currency swaps, equity swaps, and options depending upon the underlying exposure. The company is not a party to leveraged derivative instruments. A brief description of the major hedging programs, categorized by underlying risk, follows. Interest Rate Risk Fixed and Variable Rate Borrowings The company issues debt in the global capital markets to fund its operations and financing business. Access to cost-effective financing can result in interest rate mismatches with the underlying assets. To manage these mismatches and to reduce overall interest cost, the company may use interest-rate swaps to convert specific fixed-rate debt issuances into variable-rate debt (i.e., fair value hedges) and to convert specific variable-rate debt issuances into fixed-rate debt (i.e., cash flow hedges). At June 30, 2023 and December 31, 2022, the total notional amount of the company’s interest-rate swaps was $6.9 billion and $6.5 billion, respectively. The weighted-average remaining maturity of these instruments at June 30, 2023 and December 31, 2022 was approximately 5.8 years and 6.0 years, respectively. These interest-rate contracts were accounted for as fair value hedges. The company did not have any cash flow hedges relating to this program outstanding at June 30, 2023 and December 31, 2022. Forecasted Debt Issuance The company is exposed to interest rate volatility on future debt issuances. To manage this risk, the company may use instruments such as forward starting interest-rate swaps to lock in the rate on the interest payments related to the forecasted debt issuances. There were no instruments outstanding at June 30, 2023 and December 31, 2022. In connection with cash flow hedges of forecasted interest payments related to the company's borrowings, the company recorded net losses (before taxes) of $130 million and $139 million at June 30, 2023 and December 31, 2022, respectively, in AOCI. The company estimates that $17 million of the deferred net losses (before taxes) on derivatives in AOCI at June 30, 2023 will be reclassified to net income within the next 12 months, providing an offsetting economic impact against the underlying interest payments. Foreign Exchange Risk Long-Term Investments in Foreign Subsidiaries (Net Investment) A large portion of the company’s foreign currency denominated debt portfolio is designated as a hedge of net investment in foreign subsidiaries to reduce the volatility in stockholders’ equity caused by changes in foreign currency exchange rates in the functional currency of major foreign subsidiaries with respect to the U.S. dollar. At June 30, 2023 and December 31, 2022, the carrying value of debt designated as hedging instruments was $15.7 billion and $13.4 billion, respectively. The company also uses cross-currency swaps and foreign exchange forward contracts for this risk management purpose. At June 30, 2023 and December 31, 2022, the total notional amount of derivative instruments designated as net investment hedges was $4.9 billion and $4.7 billion, respectively. At June 30, 2023 and December 31, 2022, the weighted-average remaining maturity of these instruments was approximately 0.2 years and 0.1 years, respectively. Anticipated Royalties and Cost Transactions The company’s operations generate significant nonfunctional currency, third-party vendor payments and intercompany payments for royalties and goods and services among the company’s non-U.S. subsidiaries and with the company. In anticipation of these foreign currency cash flows and in view of the volatility of the currency markets, the company selectively employs foreign exchange forward contracts to manage its currency risk. These forward contracts are accounted for as cash flow hedges. At June 30, 2023, the maximum remaining length of time over which the company hedged its exposure is approximately two years. At June 30, 2023 and December 31, 2022, the total notional amount of forward contracts designated as cash flow hedges of forecasted royalty and cost transactions was $8.6 billion and $8.1 billion, respectively. At both June 30, 2023 and December 31, 2022, the weighted-average remaining maturity of these instruments was approximately 0.6 years. At June 30, 2023 and December 31, 2022, in connection with cash flow hedges of anticipated royalties and cost transactions, the company recorded net gains (before taxes) of $63 million and $66 million, respectively, in AOCI. The company estimates that $3 million of deferred net losses (before taxes) on derivatives in AOCI at June 30, 2023 will be reclassified to net income within the next 12 months, providing an offsetting economic impact against the underlying anticipated transactions. Foreign Currency Denominated Borrowings The company is exposed to exchange rate volatility on foreign currency denominated debt. To manage this risk, the company employs cross-currency swaps to convert fixed-rate foreign currency denominated debt to fixed-rate debt denominated in the functional currency of the borrowing entity. These swaps are accounted for as cash flow hedges. At June 30, 2023, the maximum length of time remaining over which the company hedged its exposure is approximately eight years. At June 30, 2023 and December 31, 2022, the total notional amount of cross-currency swaps designated as cash flow hedges of foreign currency denominated debt was $3.9 billion and $3.1 billion, respectively. At June 30, 2023 and December 31, 2022, in connection with cash flow hedges of foreign currency denominated borrowings, the company recorded net losses (before taxes) of $109 million and $101 million, respectively, in AOCI. The company estimates that $48 million of deferred net gains (before taxes) on derivatives in AOCI at June 30, 2023 will be reclassified to net income within the next 12 months, providing an offsetting economic impact against the underlying exposure. Subsidiary Cash and Foreign Currency Asset/Liability Management The company uses its Global Treasury Centers to manage the cash of its subsidiaries. These centers principally use currency swaps to convert cash flows in a cost-effective manner. In addition, the company uses foreign exchange forward contracts to economically hedge, on a net basis, the foreign currency exposure of a portion of the company’s nonfunctional currency assets and liabilities. The terms of these forward and swap contracts are generally less than one year. The changes in the fair values of these contracts and of the underlying hedged exposures are generally offsetting and are recorded in other (income) and expense in the Consolidated Income Statement. At June 30, 2023 and December 31, 2022, the total notional amount of derivative instruments in economic hedges of foreign currency exposure was $7.5 billion and $5.9 billion, respectively. Equity Risk Management The company is exposed to market price changes in certain broad market indices and in the company’s own stock primarily related to certain obligations to employees. Changes in the overall value of these employee compensation obligations are recorded in SG&A expense in the Consolidated Income Statement. Although not designated as accounting hedges, the company utilizes derivatives, including equity swaps and futures, to economically hedge the exposures related to its employee compensation obligations. The derivatives are linked to the total return on certain broad market indices or the total return on the company’s common stock, and are recorded at fair value with gains or losses also reported in SG&A expense in the Consolidated Income Statement. At June 30, 2023 and December 31, 2022, the total notional amount of derivative instruments in economic hedges of these compensation obligations was $1.2 billion and $1.1 billion, respectively. Cumulative Basis Adjustments for Fair Value Hedges At June 30, 2023 and December 31, 2022, the following amounts were recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges: (Dollars in millions) June 30, December 31, Short-term debt: Carrying amount of the hedged item $ (203) $ (199) Cumulative hedging adjustments included in the carrying amount — assets/(liabilities)* $ (3) $ 1 Long-term debt: Carrying amount of the hedged item $ (6,540) $ (6,216) Cumulative hedging adjustments included in the carrying amount — assets/(liabilities)* $ 147 $ 72 * Includes ($225) million and ($250) million of hedging adjustments on discontinued hedging relationships at June 30, 2023 and December 31, 2022, respectively. The Effect of Derivative Instruments in the Consolidated Income Statement The total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value hedges, cash flow hedges, net investment hedges and derivatives not designated as hedging instruments are recorded and the total effect of hedge activity on these income and expense line items are as follows: (Dollars in millions) Total Gains/(Losses) of For the three months ended June 30: 2023 2022 2023 2022 Cost of services $ 5,294 $ 5,399 $ (3) $ 13 Cost of sales $ 1,587 $ 1,750 $ 2 $ 23 Cost of financing $ 93 $ 96 $ (3) $ 1 SG&A expense $ 4,900 $ 4,855 $ 43 $ (152) Other (income) and expense $ (261) $ (81) $ (141) $ (439) Interest expense $ 423 $ 297 $ (18) $ 3 Gain (Loss) Recognized in Consolidated Income Statement (Dollars in millions) Consolidated Recognized on Attributable to Risk Being Hedged (2) For the three months ended June 30: 2023 2022 2023 2022 Derivative instruments in fair value hedges (1) : Interest rate contracts Cost of financing $ (30) $ (17) $ 25 $ 23 Interest expense (153) (61) 130 81 Derivative instruments not designated as hedging instruments: Foreign exchange contracts Other (income) and expense (196) (313) N/A N/A Equity contracts SG&A expense 42 (166) N/A N/A Other (income) and expense — (88) N/A N/A Total $ (337) $ (645) $ 155 $ 104 Gain (Loss) Recognized in Consolidated Income Statement and Other Comprehensive Income Recognized in OCI Consolidated Reclassified Amounts Excluded from Effectiveness Testing (3) (Dollars in millions) For the three months ended June 30: 2023 2022 2023 2022 2023 2022 Derivative instruments in cash flow hedges: Interest rate contracts $ — $ — Cost of financing $ (1) $ (1) $ — $ — Interest expense (4) (3) — — Foreign exchange contracts 178 200 Cost of services (3) 13 — — Cost of sales 2 23 — — Cost of financing (3) (5) — — SG&A expense 1 14 — — Other (income) and expense 55 (38) — — Interest expense (18) (19) — — Instruments in net investment hedges (4) : Foreign exchange contracts 136 1,379 Cost of financing — — 5 1 Interest expense — — 27 5 Total $ 313 $ 1,579 $ 30 $ (16) $ 32 $ 6 (1) The amount includes changes in clean fair values of the derivative instruments in fair value hedging relationships and the periodic accrual for coupon payments required under these derivative contracts. (2) The amount includes basis adjustments to the carrying value of the hedged item recorded during the period and amortization of basis adjustments recorded on de-designated hedging relationships during the period. (3) The company’s policy is to recognize all fair value changes in amounts excluded from effectiveness testing in net income each period. (4) Instruments in net investment hedges include derivative and non-derivative instruments with the amounts recognized in OCI providing an offset to the translation of foreign subsidiaries. N/A - not applicable (Dollars in millions) Total Gains/(Losses) of For the six months ended June 30: 2023 2022 2023 2022 Cost of services $ 10,604 $ 10,747 $ (5) $ 28 Cost of sales $ 2,910 $ 3,165 $ 17 $ 35 Cost of financing $ 203 $ 194 $ (7) $ (1) SG&A expense $ 9,754 $ 9,452 $ 102 $ (223) Other (income) and expense $ (506) $ 166 $ 1 $ (541) Interest expense $ 790 $ 607 $ (31) $ (3) Gain (Loss) Recognized in Consolidated Income Statement (Dollars in millions) Consolidated Recognized on Attributable to Risk Being Hedged (2) For the six months ended June 30: 2023 2022 2023 2022 Derivative instruments in fair value hedges (1) : Interest rate contracts Cost of financing $ (21) $ (18) $ 13 $ 26 Interest expense (96) (65) 58 97 Derivative instruments not designated as hedging instruments: Foreign exchange contracts Other (income) and expense (180) (409) N/A N/A Equity contracts SG&A expense 91 (243) N/A N/A Other (income) and expense — (88) N/A N/A Total $ (206) $ (821) $ 71 $ 123 Gain (Loss) Recognized in Consolidated Income Statement and Other Comprehensive Income Recognized in OCI Consolidated Reclassified Amounts Excluded from Effectiveness Testing (3) (Dollars in millions) For six months ended June 30: 2023 2022 2023 2022 2023 2022 Derivative instruments in cash flow hedges: Interest rate contracts $ — $ — Cost of financing $ (2) $ (2) $ — $ — Interest expense (7) (7) — — Foreign exchange contracts 149 260 Cost of services (5) 28 — — Cost of sales 17 35 — — Cost of financing (8) (10) — — SG&A expense 10 20 — — Other (income) and expense 181 (45) — — Interest expense (35) (36) — — Instruments in net investment hedges (4) : Foreign exchange contracts (88) 1,920 Cost of financing — — 11 2 Interest expense — — 49 7 Total $ 61 $ 2,180 $ 152 $ (16) $ 60 $ 9 (1) The amount includes changes in clean fair values of the derivative instruments in fair value hedging relationships and the periodic accrual for coupon payments required under these derivative contracts. (2) The amount includes basis adjustments to the carrying value of the hedged item recorded during the period and amortization of basis adjustments recorded on de-designated hedging relationships during the period. (3) The company’s policy is to recognize all fair value changes in amounts excluded from effectiveness testing in net income each period. (4) Instruments in net investment hedges include derivative and non-derivative instruments with the amounts recognized in OCI providing an offset to the translation of foreign subsidiaries. N/A - not applicable For the three and six months ended June 30, 2023 and 2022, there were no material gains or losses excluded from the assessment of hedge effectiveness (for fair value or cash flow hedges), or associated with an underlying exposure that did not or was not expected to occur (for cash flow hedges); nor are there any anticipated in the normal course of business.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation: Stock-based compensation cost for stock awards and stock options is measured at grant date, based on the fair value of the award, and is recognized over the employee requisite service period. The following table presents total stock-based compensation cost included in income from continuing operations. Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Cost $ 47 $ 43 $ 93 $ 84 Selling, general and administrative 168 153 317 289 Research, development and engineering 73 58 146 115 Pre-tax stock-based compensation cost $ 288 $ 254 $ 556 $ 488 Income tax benefits (75) (82) (142) (139) Total net stock-based compensation cost $ 213 $ 172 $ 414 $ 348 Pre-tax stock-based compensation cost for the three months ended June 30, 2023 increased $34 million compared to the corresponding period in the prior year, including increases in restricted stock units ($15 million), performance share units ($11 million) and stock options ($7 million). The increases are driven by stock-based compensation awards granted by the company as part of its annual cycles for executives and other employees. Pre-tax stock-based compensation cost for the six months ended June 30, 2023 increased $69 million compared to the corresponding period in the prior year, including increases in stock options ($21 million), Employees Stock Purchase Plan (ESPP) ($20 million), restricted stock units ($17 million) and performance share units ($11 million). The increases are driven by stock-based compensation awards granted by the company as part of its annual cycles for executives and other employees and the ESPP being considered compensatory effective April 1, 2022.

Retirement-Related Benefits

Retirement-Related Benefits	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Retirement-Related Benefits	Retirement-Related Benefits: The company offers defined benefit (DB) pension plans, defined contribution pension plans, as well as nonpension postretirement plans primarily consisting of retiree medical benefits. The following tables provide the pre-tax cost for all retirement-related plans. Yr. to Yr. (Dollars in millions) Percent For the three months ended June 30: 2023 2022 Change Retirement-related plans — cost: Defined benefit and contribution pension plans — cost $ 259 $ 456 (43.2) % Nonpension postretirement plans — cost 33 33 (2.2) Total $ 292 $ 489 (40.4) % Yr. to Yr. (Dollars in millions) Percent For the six months ended June 30: 2023 2022 Change Retirement-related plans — cost: Defined benefit and contribution pension plans — cost $ 541 $ 934 (42.1) % Nonpension postretirement plans — cost 65 66 (1.9) Total $ 606 $ 1,000 (39.4) % Cost/(Income) of Pension Plans The following tables provide the components of the cost/(income) for the company’s pension plans. (Dollars in millions) U.S. Plans Non-U.S. Plans For the three months ended June 30: 2023 2022 2023 2022 Service cost $ — $ — $ 44 $ 59 Interest cost* 272 302 292 131 Expected return on plan assets* (382) (475) (362) (259) Amortization of prior service costs/(credits)* 0 2 5 3 Recognized actuarial losses* 27 179 101 260 Curtailments and settlements* — — 6 11 Multi-employer plans — — 3 3 Other costs/(credits)* — — 10 6 Total net periodic pension (income)/cost of defined benefit plans $ (82) $ 8 $ 99 $ 215 Cost of defined contribution plans 151 141 91 92 Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement $ 69 $ 149 $ 190 $ 307 (Dollars in millions) U.S. Plans Non-U.S. Plans For the six months ended June 30: 2023 2022 2023 2022 Service cost $ — $ — $ 88 $ 123 Interest cost* 545 603 580 270 Expected return on plan assets* (764) (950) (718) (532) Amortization of prior service costs/(credits)* 0 4 10 7 Recognized actuarial losses* 55 359 203 537 Curtailments and settlements* — — 5 19 Multi-employer plans — — 6 7 Other costs/(credits)* — — 19 15 Total net periodic pension (income)/cost of defined benefit plans $ (165) $ 15 $ 194 $ 446 Cost of defined contribution plans 323 282 188 190 Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement $ 158 $ 298 $ 382 $ 636 * These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement. Cost of Nonpension Postretirement Plans The following tables provide the components of the cost for the company’s nonpension postretirement plans. (Dollars in millions) U.S. Plan Non-U.S. Plans For the three months ended June 30: 2023 2022 2023 2022 Service cost $ 1 $ 1 $ 1 $ 1 Interest cost* 29 18 10 9 Expected return on plan assets* — — (1) (1) Amortization of prior service costs/(credits)* (7) 1 0 0 Recognized actuarial losses* — 2 0 1 Curtailments and settlements* — — — — Total nonpension postretirement plans cost recognized in the Consolidated Income Statement $ 23 $ 23 $ 10 $ 10 (Dollars in millions) U.S. Plan Non-U.S. Plans For the six months ended June 30: 2023 2022 2023 2022 Service cost $ 2 $ 2 $ 1 $ 2 Interest cost* 58 37 19 18 Expected return on plan assets* — — (1) (1) Amortization of prior service costs/(credits)* (15) 2 0 0 Recognized actuarial losses* — 4 (1) 2 Curtailments and settlements* — — — — Total nonpension postretirement plans cost recognized in the Consolidated Income Statement $ 46 $ 46 $ 19 $ 20 * These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement. The company does not anticipate any significant changes to the expected plan contributions in 2023 from the amounts disclosed in the 2022 Annual Report. The table below includes contributions to the following plans: (Dollars in millions) Plan Contributions For the six months ended June 30: 2023 2022 U.S. nonpension postretirement benefit plans $ 134 $ 202 Non-U.S. DB and multi-employer plans* 29 43 Total plan contributions $ 163 $ 245 * Amounts reported net of refunds. During the six months ended June 30, 2023 and 2022, the company contributed $134 million and $182 million of U.S. Treasury Securities, respectively, to the U.S. nonpension postretirement benefit plan. Additionally, during the six months ended June 30, 2023 and 2022, the company contributed $347 million and $261 million of U.S. Treasury securities, respectively, to the Active Medical Trust. Contributions made with U.S. Treasury securities are considered a non-cash transaction.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events :

Accounting Changes (Policies)

Accounting Changes (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Basis of Presentation	The accompanying Consolidated Financial Statements and footnotes of the International Business Machines Corporation (IBM or the company) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The financial statements and footnotes are unaudited. In the opinion of the company’s management, these statements include all adjustments, which are only of a normal recurring nature, necessary to present a fair statement of the company’s results of operations, financial position and cash flows. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amount of assets, liabilities, revenue, costs, expenses and other comprehensive income/(loss) that are reported in the Consolidated Financial Statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events, historical experience, actions that the company may undertake in the future and on various other assumptions that are believed to be reasonable under the circumstances. As a result, actual results may be different from these estimates. In the fourth quarter of 2022, the company completed its annual assessment of the useful lives of its property, plant and equipment. Due to advances in technology, the company determined it should increase the estimated useful lives of its server and network equipment from five three For the three and six months ended June 30, 2023, the company reported a provision for income taxes of $419 million and $543 million, respectively, and its effective tax rate was 21.0 percent and 17.8 percent, respectively. For the three and six months ended June 30, 2022, the company reported a provision for income taxes of $257 million and $218 million, respectively, and its effective tax rate was 14.9 percent and 9.3 percent, respectively. The rates are driven by many factors including the impacts of foreign tax credit regulations, geographical mix of income, incentives and changes in unrecognized tax benefits. Noncontrolling interest amounts of $3.9 million and $5.5 million, net of tax, for the three months ended June 30, 2023 and 2022, respectively, and $8.4 million and $10.5 million, net of tax, for the six months ended June 30, 2023 and 2022, respectively, are included as a reduction within other (income) and expense in the Consolidated Income Statement. The company has supplier finance programs with third-party financial institutions where the company agrees to pay the financial institutions the stated amounts of invoices from participating suppliers on the originally invoiced maturity date, which have an average term of 90 days. The financial institutions offer earlier payment of the invoices at the sole discretion of the supplier for a discounted amount. The company does not provide secured legal assets or other forms of guarantees under the arrangements. The company is not a party to the arrangements between its suppliers and the financial institutions. These obligations are recognized as accounts payable in the Consolidated Balance Sheet. The obligations outstanding under these programs at June 30, 2023 and December 31, 2022 were $115 million and $60 million, respectively. Interim results are not necessarily indicative of financial results for a full year. The information included in this Form 10-Q should be read in conjunction with the company’s 2022 Annual Report. Within the financial statements and tables presented, certain columns and rows may not add due to the use of rounded numbers for disclosure purposes. Percentages presented are calculated from the underlying whole-dollar amounts. Certain prior-period amounts have been reclassified to conform to the current-period presentation. This is annotated where applicable.
Standards Implemented	Standards Implemented Disclosures of Supplier Finance Program Obligations Standard/Description– Issuance date: September 2022. This guidance requires an entity to provide certain interim and annual disclosures about the use of supplier finance programs in connection with the purchase of goods or services. Effective Date and Adoption Considerations– The guidance was effective January 1, 2023 with certain annual disclosures required beginning in 2024 and early adoption was permitted. The company adopted the guidance as of the effective date. Effect on Financial Statements or Other Significant Matters– The guidance did not have a material impact in the consolidated financial results. Refer to Note 1, "Basis of Presentation," for additional information. Troubled Debt Restructurings and Vintage Disclosures Standard/Description –Issuance date: March 2022. This eliminates the accounting guidance for troubled debt restructurings and requires an entity to apply the general loan modification guidance to all loan modifications, including those made to customers experiencing financial difficulty, to determine whether the modification results in a new loan or a continuation of an existing loan. The guidance also requires presenting current-period gross write-offs by year of origination for financing receivables and net investment in leases. Effective Date and Adoption Considerations –The amendment was effective January 1, 2023 and early adoption was permitted. The company adopted the guidance on a prospective basis as of the effective date. Effect on Financial Statements or Other Significant Matters –The guidance did not have a material impact in the consolidated financial results. Refer to note 9, "Financing Receivables," for additional information.
Remaining Performance Obligations	Remaining Performance ObligationsThe remaining performance obligation (RPO) disclosure provides the aggregate amount of the transaction price yet to be recognized as of the end of the reporting period and an explanation as to when the company expects to recognize these amounts in revenue. It is intended to be a statement of overall work under contract that has not yet been performed and does not include contracts in which the customer is not committed, such as certain as-a-Service, governmental, term software license and services offerings. The customer is not considered committed when they are able to terminate for convenience without payment of a substantive penalty. The disclosure includes estimates of variable consideration, except when the variable consideration is a sales-based or usage-based royalty promised in exchange for a license of intellectual property. Additionally, as a practical expedient, the company does not include contracts that have an original duration of one year or less. RPO estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustment for revenue that has not materialized and adjustments for currency.
Segments	Performance measurement is based on pre-tax income from continuing operations. These results are used by the chief operating decision maker, both in evaluating the performance of, and in allocating resources to, each of the segments.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The company classifies certain assets and liabilities based on the following fair value hierarchy: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that can be accessed at the measurement date; • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and • Level 3 – Unobservable inputs for the asset or liability. When available, the company uses unadjusted quoted market prices in active markets to measure the fair value and classifies such items as Level 1. If quoted market prices are not available, fair value is based upon internally developed models that use current market-based or independently sourced market parameters such as interest rates and currency rates. Items valued using internally generated models are classified according to the lowest level input or value driver that is significant to the valuation. The determination of fair value considers various factors including interest rate yield curves and time value underlying the financial instruments. For derivatives and debt securities, the company uses a discounted cash flow analysis using discount rates commensurate with the duration of the instrument. In determining the fair value of financial instruments, the company considers certain market valuation adjustments to the “base valuations” calculated using the methodologies described below for several parameters that market participants would consider in determining fair value: • Counterparty credit risk adjustments are applied to financial instruments, taking into account the actual credit risk of a counterparty as observed in the credit default swap market to determine the true fair value of such an instrument. • Credit risk adjustments are applied to reflect the company’s own credit risk when valuing all liabilities measured at fair value. The methodology is consistent with that applied in developing counterparty credit risk adjustments, but incorporates the company’s own credit risk as observed in the credit default swap market. The company holds investments primarily in time deposits, certificates of deposit, and U.S. government debt that are designated as available-for-sale. The primary objective of the company’s cash and debt investment portfolio is to protect principal by investing in very liquid investment securities with highly rated counterparties. The company’s standard practice is to hold all of its debt security investments classified as available-for-sale until maturity. No impairments for credit losses and no material non-credit impairments were recorded for the three and six months ended June 30, 2023. Certain non-financial assets such as property, plant and equipment, operating right-of-use assets, land, goodwill and intangible assets are also subject to nonrecurring fair value measurements if they are deemed to be impaired. The impairment models used for non-financial assets depend on the type of asset. There were no material impairments of non-financial assets for the three and six months ended June 30, 2023 and 2022, respectively.
Financial Assets and Liabilities Not Measured at Fair Value	Financial Assets and Liabilities Not Measured at Fair Value Short-Term Receivables and Payables Short-term receivables (excluding the current portion of long-term receivables) and other investments are financial assets with carrying values that approximate fair value. Accounts payable, other accrued expenses and short-term debt (excluding the current portion of long-term debt) are financial liabilities with carrying values that approximate fair value. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy, except for short-term debt which would be classified as Level 2. Loans and Long-Term Receivables Fair values are based on discounted future cash flows using current interest rates offered for similar loans to clients with similar credit ratings for the same remaining maturities. At June 30, 2023 and December 31, 2022, the difference between the carrying amount and estimated fair value for loans and long-term receivables was immaterial. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy. Long-Term Debt Fair value of publicly traded long-term debt is based on quoted market prices for the identical liability when traded as an asset in an active market. For other long-term debt (including long-term finance lease liabilities) for which a quoted market price is not available, an expected present value technique that uses rates currently available to the company for debt with similar terms and remaining maturities is used to estimate fair value. The carrying amount of long-term debt was $50,691 million and $46,189 million, and the estimated fair value was $47,250 million and $42,514 million at June 30, 2023 and December 31, 2022, respectively. If measured at fair value in the financial statements, long-term debt (including the current portion) would be classified as Level 2 in the fair value hierarchy.
Financing Receivables	Financing receivables primarily consist of client loan and installment payment receivables (loans), investment in sales-type and direct financing leases (collectively referred to as client financing receivables) and commercial financing receivables. Loans are provided primarily to clients to finance the purchase of hardware, software and services. Payment terms on these financing arrangements are for terms up to seven years. Investment in sales-type and direct financing leases relate principally to the company’s Infrastructure products and are for terms ranging generally from two
Commitments	The company collectively evaluates the allowance for these arrangements using a provision methodology consistent with the portfolio of the commitments. Refer to note A, “Significant Accounting Policies,” in the company’s 2022 Annual Report for additional information.The company has applied the guidance requiring a guarantor to disclose certain types of guarantees, even if the likelihood of requiring the guarantor’s performance is remote.
Contingencies	The company records a provision with respect to a claim, suit, investigation or proceeding when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Any recorded liabilities, including any changes to such liabilities for the quarter ended June 30, 2023 were not material to the Consolidated Financial Statements. In accordance with the relevant accounting guidance, the company provides disclosures of matters for which the likelihood of material loss is at least reasonably possible. In addition, the company also discloses matters based on its consideration of other matters and qualitative factors, including the experience of other companies in the industry, and investor, customer and employee relations considerations. With respect to certain of the claims, suits, investigations and proceedings discussed herein, the company believes at this time that the likelihood of any material loss is remote, given, for example, the procedural status, court rulings, and/or the strength of the company’s defenses in those matters. With respect to the remaining claims, suits, investigations and proceedings discussed in this note, except as specifically discussed herein, the company is unable to provide estimates of reasonably possible losses or range of losses, including losses in excess of amounts accrued, if any, for the following reasons. Claims, suits, investigations and proceedings are inherently uncertain, and it is not possible to predict the ultimate outcome of these matters. It is the company’s experience that damage amounts claimed in litigation against it are unreliable and unrelated to possible outcomes, and as such are not meaningful indicators of the company’s potential liability. Further, the company is unable to provide such an estimate due to a number of other factors with respect to these claims, suits, investigations and proceedings, including considerations of the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. The company reviews claims, suits, investigations and proceedings at least quarterly, and decisions are made with respect to recording or adjusting provisions and disclosing reasonably possible losses or range of losses (individually or in the
Derivative Financial Instruments	The company operates in multiple functional currencies and is a significant lender and borrower in the global markets. In the normal course of business, the company is exposed to the impact of interest rate changes and foreign currency fluctuations, and to a lesser extent equity and commodity price changes and client credit risk. The company limits these risks by following established risk management policies and procedures, including the use of derivatives, and, where cost effective, financing with debt in the currencies in which assets are denominated. For interest rate exposures, derivatives are used to better align rate movements between the interest rates associated with the company’s lease and other financial assets and the interest rates associated with its financing debt. Derivatives are also used to manage the related cost of debt. For foreign currency exposures, derivatives are used to better manage the cash flow volatility arising from foreign exchange rate fluctuations.
Offsetting Derivatives	In the Consolidated Balance Sheet, the company does not offset derivative assets against liabilities in master netting arrangements nor does it offset receivables or payables recognized upon payment or receipt of cash collateral against the fair values of the related derivative instruments.The company restricts the use of cash collateral received to rehypothecation, and therefore reports it in restricted cash in the Consolidated Balance Sheet.
Derivatives, Methods of Accounting, Hedge Effectiveness	The company’s policy is to recognize all fair value changes in amounts excluded from effectiveness testing in net income each period.
Stock-Based Compensation	Stock-based compensation cost for stock awards and stock options is measured at grant date, based on the fair value of the award, and is recognized over the employee requisite service period.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	The following tables provide details of revenue by major products/service offerings and revenue by geography. Revenue by Major Products/Service Offerings Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Hybrid Platform & Solutions $ 4,665 $ 4,390 $ 8,844 $ 8,470 Transaction Processing 1,943 1,776 3,685 3,468 Total Software $ 6,608 $ 6,166 $ 12,529 $ 11,938 Business Transformation 2,295 2,227 4,578 4,482 Application Operations 1,758 1,653 3,494 3,272 Technology Consulting 961 928 1,904 1,884 Total Consulting $ 5,013 $ 4,809 $ 9,975 $ 9,637 Hybrid Infrastructure 2,260 2,760 3,969 4,461 Infrastructure Support 1,358 1,474 2,747 2,993 Total Infrastructure $ 3,618 $ 4,235 $ 6,716 $ 7,453 Financing* 185 146 380 300 Other 51 180 126 404 Total revenue $ 15,475 $ 15,535 $ 29,727 $ 29,732 * Contains lease and loan financing arrangements which are not subject to the guidance on revenue from contracts with customers.
Schedule of disaggregation of revenue by geography	Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Americas $ 8,046 $ 8,142 $ 15,124 $ 15,198 Europe/Middle East/Africa 4,602 4,526 8,933 8,757 Asia Pacific 2,827 2,868 5,670 5,778 Total $ 15,475 $ 15,535 $ 29,727 $ 29,732
Schedule of reconciliation of contract balances	The following table provides information about notes and accounts receivable–trade, contract assets and deferred income balances. (Dollars in millions) At June 30, 2023 At December 31, 2022 Notes and accounts receivable — trade (net of allowances of $217 in 2023 and $233 in 2022) $ 5,673 $ 6,541 Contract assets* $ 447 $ 464 Deferred income (current) $ 12,712 $ 12,032 Deferred income (noncurrent) $ 3,264 $ 3,499 * Included within prepaid expenses and other current assets in the Consolidated Balance Sheet.
Schedule of notes and accounts receivable - trade allowance for credit losses	The following table provides roll forwards of the notes and accounts receivable–trade allowance for expected credit losses for the six months ended June 30, 2023 and the year ended December 31, 2022. (Dollars in millions) January 1, 2023 Additions / (Releases) Write-offs Foreign currency and other June 30, 2023 $ 233 $ 31 $ (47) $ 1 $ 217 January 1, 2022 Additions / (Releases) Write-offs Foreign currency and other December 31, 2022 $ 218 $ 59 $ (31) $ (14) $ 233

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Revenue and Pre-tax Income by Segment	The following tables reflect the results of continuing operations of the company’s segments consistent with the management and measurement system utilized within the company. Performance measurement is based on pre-tax income from continuing operations. These results are used by the chief operating decision maker, both in evaluating the performance of, and in allocating resources to, each of the segments. SEGMENT INFORMATION (Dollars in millions) Software Consulting Infrastructure Financing Total For the three months ended June 30, 2023: Revenue $ 6,608 $ 5,013 $ 3,618 $ 185 $ 15,424 Pre-tax income from continuing operations $ 1,504 $ 446 $ 633 $ 64 $ 2,647 Revenue year-to-year change 7.2 % 4.3 % (14.6) % 26.2 % 0.4 % Pre-tax income year-to-year change 9.4 % 30.1 % (16.4) % (36.8) % 2.7 % Pre-tax income margin 22.8 % 8.9 % 17.5 % 34.9 % 17.2 % For the three months ended June 30, 2022: Revenue $ 6,166 $ 4,809 $ 4,235 $ 146 $ 15,355 Pre-tax income from continuing operations $ 1,375 $ 343 $ 757 $ 102 $ 2,577 Pre-tax income margin 22.3 % 7.1 % 17.9 % 69.7 % 16.8 %
Reconciliation of segment revenue and pre-tax income to IBM as reported	Reconciliations to IBM as Reported: (Dollars in millions) For the three months ended June 30: 2023 2022 Revenue: Total reportable segments $ 15,424 $ 15,355 Other ‒ divested businesses (1) 162 Other revenue 52 18 Total revenue from continuing operations $ 15,475 $ 15,535 Pre-tax income from continuing operations: Total reportable segments $ 2,647 $ 2,577 Amortization of acquired intangible assets (389) (458) Acquisition-related (charges)/income (7) (2) Non-operating retirement-related (costs)/income (1) (192) Kyndryl-related impacts — (145) * Workforce rebalancing charges** (117) — Other ‒ divested businesses (1) 160 Unallocated corporate amounts and other (133) (219) + Total pre-tax income/(loss) from continuing operations $ 2,000 $ 1,722 * Unrealized loss on Kyndryl retained shares and related swap. Refer to note 5, "Acquisitions & Divestitures," and note 16, "Derivative Financial Instruments," for additional information. ** Beginning in the first quarter of 2023, the company updated its measure of segment pre-tax income, consistent with its management system, to no longer allocate workforce rebalancing charges to its segments. Workforce rebalancing charges in the second quarter of 2022 of $3 million were included in the segments. + Recast to conform to 2023 presentation. SEGMENT INFORMATION (Dollars in millions) Software Consulting Infrastructure Financing Total For the six months ended June 30, 2023: Revenue $ 12,529 $ 9,975 $ 6,716 $ 380 $ 29,601 Pre-tax income from continuing operations $ 2,668 $ 828 $ 849 $ 165 $ 4,510 Revenue year-to-year change 5.0 % 3.5 % (9.9) % 26.8 % 0.9 % Pre-tax income year-to-year change 6.3 % 19.8 % (11.2) % (11.3) % 3.8 % Pre-tax income margin 21.3 % 8.3 % 12.6 % 43.3 % 15.2 % For the six months ended June 30, 2022: Revenue $ 11,938 $ 9,637 $ 7,453 $ 300 $ 29,328 Pre-tax income from continuing operations $ 2,509 $ 691 $ 956 $ 186 $ 4,342 Pre-tax income margin 21.0 % 7.2 % 12.8 % 62.0 % 14.8 % Reconciliations to IBM as Reported: (Dollars in millions) For the six months ended June 30: 2023 2022 Revenue: Total reportable segments $ 29,601 $ 29,328 Other ‒ divested businesses (1) 316 Other revenue 127 88 Total consolidated revenue $ 29,727 $ 29,732 Pre-tax income from continuing operations: Total reportable segments $ 4,510 $ 4,342 Amortization of acquired intangible assets (781) (919) Acquisition-related charges (10) (9) Non-operating retirement-related (costs)/income 4 (394) Kyndryl-related impacts — (367) * Workforce rebalancing charges** (376) — Other ‒ divested businesses (5) 109 Unallocated corporate amounts (284) (418) + Total pre-tax income/(loss) from continuing operations $ 3,058 $ 2,345 * Unrealized loss on Kyndryl retained shares and related swap. Refer to note 5, "Acquisitions & Divestitures," and note 16, "Derivative Financial Instruments," for additional information. ** Beginning in the first quarter of 2023, the company updated its measure of segment pre-tax income, consistent with its management system, to no longer allocate workforce rebalancing charges to its segments. Workforce rebalancing charges in the first six months of 2022 of $9 million were included in the segments. + Recast to conform to 2023 presentation.

Acquisitions & Divestitures (Ta

Acquisitions & Divestitures (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of business acquisitions	Acquisition Segment Description of Acquired Business First Quarter StepZen, Inc. Software Developer of GraphQL to help build application programming interfaces (APIs) Asset Strategy Library (ASL) Portfolio of Uptake Technologies Software Library of industrial asset management data NS1 Software Leading provider of network automation SaaS solutions Second Quarter Ahana Cloud, Inc. Software Expert in open-source-based solutions for data analytics Polar Security Software Innovator in technology that helps companies discover, continuously monitor and secure cloud and SaaS application data Agyla SAS Consulting Leading provider of cloud platform engineering services in France specializing in Cloud, DevOps and Security
Business acquisition, purchase price allocation	The following table reflects the purchase price related to these acquisitions and the resulting purchase price allocations as of June 30, 2023. (Dollars in millions) Amortization Total Current assets $ 46 Property, plant and equipment/noncurrent assets 7 Intangible assets: Goodwill N/A 301 Client relationships 7 37 Completed technology 5-7 66 Trademarks 2-5 2 Total assets acquired $ 458 Current liabilities 26 Noncurrent liabilities 10 Total liabilities assumed $ 36 Total purchase price $ 423 N/A – not applicable

Other (Income) and Expenses (Ta

Other (Income) and Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Components of Other (Income) and Expense	Components of other (income) and expense are as follows: Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Other (income) and expense: Foreign currency transaction losses/(gains)* $ (166) $ (494) $ (78) $ (670) (Gains)/losses on derivative instruments** 141 439 (1) 541 Interest income (201) (28) (371) (46) Net (gains)/losses from securities and investment assets + 3 54 8 273 Retirement-related costs/(income) 1 192 (4) 394 Other ++ (39) (243) (61) (327) Total other (income) and expense $ (261) $ (81) $ (506) $ 166 * The company uses financial hedging instruments to limit specific currency risks related to foreign currency-based transactions. The hedging program does not hedge 100 percent of currency exposures and defers, versus eliminates, the impact of currency. Refer to note 16, "Derivative Financial Instruments," for additional information on foreign exchange risk. ** Prior year amounts include an unrealized loss on the cash-settled swap related to the Kyndryl retained shares of $88 million recognized in the second quarter of 2022. Refer to note 16, "Derivative Financial Instruments," for additional information. + Prior year amounts include an unrealized loss on Kyndryl retained shares of $56 million and $278 million for the three and six months ended June 30, 2022, respectively. Refer to note 5, "Acquisitions & Divestitures," for additional information. ++ Other primarily consists of (gains)/losses from divestitures and dispositions of land/buildings. Prior year amounts include a pre-tax gain of $232 million recognized in the second quarter of 2022 related to the divestiture of IBM's healthcare software assets.

Earnings_(Loss) Per Share of _2

Earnings/(Loss) Per Share of Common Stock (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Computation of basic and diluted earnings/(loss) per share	The following tables provide the computation of basic and diluted earnings per share of common stock for the three and six months ended June 30, 2023 and 2022. (Dollars in millions except per share amounts) For the three months ended June 30: 2023 2022 Number of shares on which basic earnings per share is calculated: Weighted-average shares outstanding during period 909,855,943 901,470,793 Add — Incremental shares under stock-based compensation plans 7,584,035 7,518,749 Add — Incremental shares associated with contingently issuable shares 2,012,519 1,760,192 Number of shares on which diluted earnings per share is calculated 919,452,496 910,749,734 Income from continuing operations $ 1,581 $ 1,465 Income/(loss) from discontinued operations, net of tax 2 (73) Net income on which basic earnings per share is calculated $ 1,583 $ 1,392 Income from continuing operations $ 1,581 $ 1,465 Net income applicable to contingently issuable shares — — Income from continuing operations on which diluted earnings per share is calculated $ 1,581 $ 1,465 Income/(loss) from discontinued operations, net of tax, on which diluted earnings per share is calculated 2 (73) Net income on which diluted earnings per share is calculated $ 1,583 $ 1,392 Earnings/(loss) per share of common stock: Assuming dilution Continuing operations $ 1.72 $ 1.61 Discontinued operations 0.00 (0.08) Total $ 1.72 $ 1.53 Basic Continuing operations $ 1.74 $ 1.62 Discontinued operations 0.00 (0.08) Total $ 1.74 $ 1.54 Stock options to purchase 5,541,485 shares and 788,500 shares were outstanding as of June 30, 2023 and 2022, respectively, but were not included in the computation of diluted earnings per share because the exercise price of the options during the respective period was greater than the average market price of the common shares, and therefore, the effect would have been antidilutive. (Dollars in millions except per share amounts) For the six months ended June 30: 2023 2022 Number of shares on which basic earnings per share is calculated: Weighted-average shares outstanding during period 908,691,415 900,393,410 Add — Incremental shares under stock-based compensation plans 8,096,637 7,946,998 Add — Incremental shares associated with contingently issuable shares 1,860,836 1,647,528 Number of shares on which diluted earnings per share is calculated 918,648,888 909,987,935 Income from continuing operations $ 2,515 $ 2,127 Income/(loss) from discontinued operations, net of tax (4) (2) Net income on which basic earnings per share is calculated $ 2,511 $ 2,125 Income from continuing operations $ 2,515 $ 2,127 Net income applicable to contingently issuable shares — — Income from continuing operations on which diluted earnings per share is calculated $ 2,515 $ 2,127 Income/(loss) from discontinued operations, net of tax, on which diluted earnings per share is calculated (4) (2) Net income on which diluted earnings per share is calculated $ 2,511 $ 2,125 Earnings/(loss) per share of common stock: Assuming dilution Continuing operations $ 2.74 $ 2.34 Discontinued operations 0.00 0.00 Total $ 2.73 $ 2.34 Basic Continuing operations $ 2.77 $ 2.36 Discontinued operations 0.00 0.00 Total $ 2.76 $ 2.36

Financial Assets & Liabilities

Financial Assets & Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, All Other Investments [Abstract]
Financial assets and financial liabilities measured at fair value on a recurring basis	The following table presents the company’s financial assets and financial liabilities that are measured at fair value on a recurring basis at June 30, 2023 and December 31, 2022. Fair Value At June 30, 2023 At December 31, 2022 (Dollars in millions) Assets (5) Liabilities (6) Assets (5) Liabilities (6) Cash equivalents: (1) Time deposits and certificates of deposit (2) 2 $ 4,383 N/A $ 3,712 N/A Money market funds 1 399 N/A 306 N/A Total cash equivalents $ 4,782 N/A $ 4,018 N/A Debt securities-current (2)(3) 2 6,904 N/A 852 N/A Debt securities-noncurrent (2)(4) 2,3 33 N/A 31 N/A Derivatives designated as hedging instruments: Interest rate contracts 2 0 400 3 336 Foreign exchange contracts 2 342 374 184 674 Derivatives not designated as hedging instruments: Foreign exchange contracts 2 14 47 42 16 Equity contracts 2 21 4 49 8 Total $ 12,096 $ 824 $ 5,179 $ 1,034 (1) Included within cash and cash equivalents in the Consolidated Balance Sheet. (2) Available-for-sale debt securities with carrying values that approximate fair value. (3) U.S. treasury bills and term deposits that are reported within marketable securities in the Consolidated Balance Sheet. The June 30, 2023 balance includes proceeds from the first quarter 2023 debt issuances. See note 12, "Borrowings," for additional information. (4) Includes immaterial activity related to private company investments reported within investments and sundry assets in the Consolidated Balance Sheet. (5) The gross balances of derivative assets contained within prepaid expenses and other current assets, and investments and sundry assets in the Consolidated Balance Sheet at June 30, 2023 were $369 million and $8 million, respectively, and at December 31, 2022 were $271 million and $7 million, respectively. (6) The gross balances of derivative liabilities contained within other accrued expenses and liabilities, and other liabilities in the Consolidated Balance Sheet at June 30, 2023 were $274 million and $551 million, respectively, and at December 31, 2022 were $546 million and $488 million, respectively. N/A – not applicable

Financing Receivables (Tables)

Financing Receivables (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Summary of the components of financing receivables	A summary of the components of the company’s financing receivables is presented as follows: Client Financing Receivables Client Loan and Installment Payment Receivables Investment in Sales-Type and Direct Financing Commercial Financing Receivables (Dollars in millions) Held for Held for At June 30, 2023 (Loans) Leases Investment Sale* Total Financing receivables, gross $ 7,262 $ 3,853 $ 251 $ 865 $ 12,230 Unearned income (436) (377) — — (813) Unguaranteed residual value — 404 — — 404 Amortized cost $ 6,826 $ 3,880 $ 251 $ 865 $ 11,821 Allowance for credit losses (104) (62) (5) — (171) Total financing receivables, net $ 6,722 $ 3,818 $ 245 $ 865 $ 11,650 Current portion $ 3,925 $ 1,393 $ 245 $ 865 $ 6,429 Noncurrent portion $ 2,796 $ 2,425 $ — $ — $ 5,221 Client Financing Receivables Client Loan and Installment Payment Receivables Investment in Sales-Type and Direct Financing Commercial Financing Receivables (Dollars in millions) Held for Held for At December 31, 2022 (Loans) Leases Investment Sale* Total Financing receivables, gross $ 8,875 $ 4,023 $ 299 $ 939 $ 14,136 Unearned income (439) (351) — — (790) Unguaranteed residual value — 422 — — 422 Amortized cost $ 8,437 $ 4,094 $ 299 $ 939 $ 13,769 Allowance for credit losses (108) (60) (5) — (173) Total financing receivables, net $ 8,329 $ 4,034 $ 293 $ 939 $ 13,596 Current portion $ 5,073 $ 1,485 $ 293 $ 939 $ 7,790 Noncurrent portion $ 3,256 $ 2,549 $ — $ — $ 5,806
Schedule of transfer of client and commercial financing assets	The following table presents the total amount of commercial financing receivables transferred. (Dollars in millions) For the six months ended June 30: 2023 2022 Commercial financing receivables: Receivables transferred during the period $ 4,345 $ 3,914 Receivables uncollected at end of period* $ 928 $ 815
Schedule of financing receivables and allowance for credit losses by class	The following tables present the amortized cost basis for client financing receivables at June 30, 2023 and December 31, 2022, further segmented by three classes: Americas, Europe/Middle East/Africa (EMEA) and Asia Pacific. The commercial financing receivables portfolio segment is excluded from the tables in the sections below as the receivables are short term in nature and the current estimated risk of loss and resulting impact to the company’s financial results are not material. (Dollars in millions) At June 30, 2023: Americas EMEA Asia Pacific Total Amortized cost $ 6,317 $ 3,019 $ 1,370 $ 10,705 Allowance for credit losses: Beginning balance at January 1, 2023 $ 88 $ 60 $ 20 $ 168 Write-offs $ (3) $ 0 $ 0 $ (4) Recoveries — 0 0 1 Additions/(releases) 6 (12) 0 (6) Other* 7 $ 0 (1) 7 Ending balance at June 30, 2023 $ 98 $ 48 $ 19 $ 165 (Dollars in millions) At December 31, 2022: Americas EMEA Asia Pacific Total Amortized cost $ 7,281 $ 3,546 $ 1,704 $ 12,531 Allowance for credit losses: Beginning balance at January 1, 2022 $ 111 $ 61 $ 23 $ 195 Write-offs $ (20) $ (3) $ (2) $ (25) Recoveries 1 0 4 5 Additions/(releases) (5) 6 (4) (3) Other* 2 (5) (2) (4) Ending balance at December 31, 2022 $ 88 $ 60 $ 20 $ 168 * Primarily represents translation adjustments.
Schedule of past due financing receivables	(Dollars in millions) Total Amortized Amortized Billed Amortized At June 30, 2023: Americas $ 6,317 $ 147 $ 72 $ 6 $ 77 EMEA 3,019 35 4 1 31 Asia Pacific 1,370 17 2 1 16 Total client financing receivables $ 10,705 $ 200 $ 78 $ 8 $ 124 (Dollars in millions) Total Amortized Amortized Billed Amortized At December 31, 2022: Americas $ 7,281 $ 272 $ 198 $ 22 $ 74 EMEA 3,546 52 8 1 46 Asia Pacific 1,704 20 3 1 17 Total client financing receivables $ 12,531 $ 344 $ 208 $ 23 $ 137 * At a contract level, which includes total billed and unbilled amounts for financing receivables aged greater than 90 days. ** Of the amortized cost not accruing, there was a related allowance of $121 million and $122 million at June 30, 2023 and December 31, 2022, respectively. Financing income recognized on these receivables was immaterial for the three and six months ended June 30, 2023, respectively.
Schedule of amortized cost by credit quality indicator	The following tables present the amortized cost basis for client financing receivables by credit quality indicator at June 30, 2023 and December 31, 2022, respectively. Receivables with a credit quality indicator ranging from Aaa to Baa3 are considered investment grade. All others are considered non-investment grade. The credit quality indicators reflect mitigating credit enhancement actions taken by customers which reduce the risk to IBM. Gross write-offs by vintage year at June 30, 2023 were not material. (Dollars in millions) Americas EMEA Asia Pacific At June 30, 2023: Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Vintage year: 2023 $ 1,011 $ 466 $ 438 $ 307 $ 248 $ 53 2022 2,363 507 895 498 476 60 2021 887 231 336 110 146 48 2020 337 161 145 99 140 30 2019 179 46 79 56 75 13 2018 and prior 63 65 18 37 57 24 Total $ 4,841 $ 1,476 $ 1,911 $ 1,108 $ 1,142 $ 227 (Dollars in millions) Americas EMEA Asia Pacific At December 31, 2022: Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Aaa – Baa3 Ba1 – D Vintage year: 2022 $ 3,316 $ 1,097 $ 1,447 $ 704 $ 799 $ 96 2021 1,197 323 451 159 203 65 2020 559 217 258 158 210 49 2019 251 91 161 99 127 22 2018 128 26 42 16 84 21 2017 and prior 32 45 14 38 12 17 Total $ 5,482 $ 1,800 $ 2,373 $ 1,173 $ 1,434 $ 269

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of amounts included in the Consolidated Income Statement related to lessor activity	The following table presents amounts included in the Consolidated Income Statement related to lessor activity. Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Lease income — sales-type and direct financing leases: Sales-type lease selling price $ 248 $ 735 $ 338 $ 789 Less: Carrying value of underlying assets* (61) (120) (91) (139) Gross profit $ 187 $ 615 $ 247 $ 651 Interest income on lease receivables 59 45 118 90 Total sales-type and direct financing lease income $ 246 $ 660 $ 365 $ 741 Lease income — operating leases 25 27 51 56 Variable lease income 14 28 35 56 Total lease income $ 284 $ 715 $ 451 $ 853 * Excludes unguaranteed residual value.

Intangible Assets Including G_2

Intangible Assets Including Goodwill (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset balances by major asset class	The following tables present the company's intangible asset balances by major asset class. At June 30, 2023 (Dollars in millions) Gross Carrying Accumulated Net Carrying Intangible asset class: Capitalized software $ 1,622 $ (707) $ 915 Client relationships 8,274 (3,056) 5,217 Completed technology 5,131 (2,174) 2,957 Patents/trademarks 1,781 (378) 1,403 Other** 19 (16) 3 Total $ 16,827 $ (6,331) $ 10,496 At December 31, 2022 (Dollars in millions) Gross Carrying Accumulated Net Carrying Intangible asset class: Capitalized software $ 1,650 $ (705) $ 945 Client relationships 8,559 (2,951) 5,608 Completed technology 5,220 (2,045) 3,175 Patents/trademarks 2,140 (688) 1,452 Other** 19 (15) 4 Total $ 17,588 $ (6,404) $ 11,184 * Amounts as of June 30, 2023 and December 31, 2022 include an increase in net intangible asset balances of $24 million and a decrease in net intangible asset balances of $198 million, respectively, due to foreign currency translation. ** Other intangibles are primarily acquired proprietary and non-proprietary business processes, methodologies and systems.
Intangible assets, future amortization expense	The future amortization expense relating to intangible assets currently recorded in the Consolidated Balance Sheet was estimated to be the following at June 30, 2023: (Dollars in millions) Capitalized Acquired Total Remainder of 2023 $ 303 $ 786 $ 1,089 2024 410 1,557 1,967 2025 175 1,538 1,713 2026 27 1,515 1,542 2027 — 1,496 1,496 Thereafter — 2,688 2,688
Changes in goodwill balances by reportable segment	The changes in the goodwill balances by segment for the six months ended June 30, 2023 and for the year ended December 31, 2022 were as follows: (Dollars in millions) Balance Goodwill Purchase Foreign Balance Segment 1/1/2023 Divestitures 6/30/2023 Software $ 43,657 $ 267 $ (7) $ — $ 88 $ 44,005 Consulting 7,928 23 6 — 43 8,000 Infrastructure 4,363 12 — — 4 4,380 Other — — — — — — Total $ 55,949 $ 302 $ (1) $ — $ 136 $ 56,385 (Dollars in millions) Balance Goodwill Purchase Foreign Balance Segment 1/1/2022 Divestitures 12/31/2022 Software $ 43,966 $ 568 $ (118) $ — $ (760) $ 43,657 Consulting 6,797 1,366 (42) — (192) 7,928 Infrastructure 4,396 — — (1) (32) 4,363 Other** 484 — — (484) — — Total $ 55,643 $ 1,934 $ (159) $ (485) $ (984) $ 55,949 * Primarily driven by foreign currency translation. ** The company derecognized goodwill related to the divestiture of its healthcare software assets in the second quarter of 2022.

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Short-Term Debt	(Dollars in millions) At June 30, 2023 At December 31, 2022 Short-term loans $ 5 $ 8 Long-term debt — current maturities 6,780 4,751 Total $ 6,785 $ 4,760
Long-Term Debt	Pre-Swap Borrowing Balance Balance (Dollars in millions) Maturities 6/30/2023 12/31/2022 U.S. dollar debt (weighted-average interest rate at June 30, 2023):* 3.4% 2023 $ 1,508 $ 1,529 3.3% 2024 5,005 5,009 5.1% 2025 1,602 1,603 3.5% 2026 5,201 4,351 3.1% 2027 3,620 3,620 5.0% 2028 1,313 313 3.5% 2029 3,250 3,250 2.0% 2030 1,350 1,350 4.4% 2032 1,850 1,850 4.8% 2033 750 — 8.0% 2038 83 83 4.5% 2039 2,745 2,745 2.9% 2040 650 650 4.0% 2042 1,107 1,107 7.0% 2045 27 27 4.7% 2046 650 650 4.3% 2049 3,000 3,000 3.0% 2050 750 750 4.2% 2052 1,400 1,400 5.1% 2053 650 — 7.1% 2096 316 316 $ 36,828 $ 33,605 Other currencies (weighted-average interest rate at June 30, 2023, in parentheses):* Euro (1.8%) 2024–2043 $ 19,095 $ 17,087 Pound sterling (4.9%) 2038 954 — Japanese yen (0.5%) 2024–2028 1,221 694 Other (16.1%) 2023–2026 272 361 $ 58,369 $ 51,747 Finance lease obligations (3.9%) 2023–2030 268 239 $ 58,637 $ 51,986 Less: net unamortized discount 859 835 Less: net unamortized debt issuance costs 164 138 Add: fair value adjustment** (144) (73) $ 57,471 $ 50,940 Less: current maturities 6,780 4,751 Total $ 50,691 $ 46,189 * Includes notes, debentures, bank loans and secured borrowings. ** The portion of the company’s fixed-rate debt obligations that is hedged is reflected in the Consolidated Balance Sheet as an amount equal to the sum of the debt’s carrying value and a fair value adjustment representing changes in the fair value of the hedged debt obligations attributable to movements in benchmark interest rates.
Pre-swap annual contractual obligations of long-term debt outstanding	Pre-swap annual contractual obligations of long-term debt outstanding at June 30, 2023, were as follows: (Dollars in millions) Total Remainder of 2023 $ 1,668 2024 6,364 2025 4,962 2026 5,534 2027 5,829 Thereafter 34,280 Total $ 58,637
Interest on Debt	(Dollars in millions) For the six months ended June 30: 2023 2022 Cost of financing $ 173 $ 165 Interest expense 790 607 Interest capitalized 6 2 Total interest paid and accrued $ 969 $ 775

Commitments (Tables)

Commitments (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Changes in warranty liabilities	Changes in the company’s warranty liability for standard warranties, which are included in other accrued expenses and liabilities and other liabilities in the Consolidated Balance Sheet, and for extended warranty contracts, which are included in deferred income in the Consolidated Balance Sheet, are presented in the following tables. Standard Warranty Liability (Dollars in millions) 2023 2022 Balance at January 1 $ 79 $ 77 Current-period accruals 35 39 Accrual adjustments to reflect actual experience (14) (1) Charges incurred (43) (41) Balance at June 30 $ 57 $ 74 Extended Warranty Liability (Dollars in millions) 2023 2022 Balance at January 1 $ 272 $ 350 Revenue deferred for new extended warranty contracts 20 84 Amortization of deferred revenue (73) (83) Other* (1) (12) Balance at June 30 $ 218 $ 339 Current portion $ 119 $ 172 Noncurrent portion $ 99 $ 167 * Other primarily consists of foreign currency translation adjustments.

Equity Activity (Tables)

Equity Activity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Reclassifications and taxes related to items of other comprehensive income	(Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the three months ended June 30, 2023: Other comprehensive income/(loss): Foreign currency translation adjustments $ 116 $ (34) $ 82 Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ (17) $ 4 $ (12) Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ (17) $ 4 $ (12) Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 178 $ (48) $ 130 Reclassification of (gains)/losses to: Cost of services 3 (1) 2 Cost of sales (2) 1 (1) Cost of financing 4 (1) 3 SG&A expense (1) 0 0 Other (income) and expense (55) 14 (41) Interest expense 22 (5) 16 Total unrealized gains/(losses) on cash flow hedges $ 148 $ (40) $ 109 Retirement-related benefit plans:* Prior service costs/(credits) $ — $ 0 $ 0 Net (losses)/gains arising during the period 0 7 7 Curtailments and settlements 6 (1) 5 Amortization of prior service (credits)/costs (2) 1 (2) Amortization of net (gains)/losses 130 (38) 92 Total retirement-related benefit plans $ 134 $ (31) $ 102 Other comprehensive income/(loss) $ 381 $ (101) $ 280 * These accumulated other comprehensive income (AOCI) components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information. Reclassifications and Taxes Related to Items of Other Comprehensive Income (Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the three months ended June 30, 2022: Other comprehensive income/(loss): Foreign currency translation adjustments $ 213 $ (347) $ (134) Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ 0 $ 0 $ 0 Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ 0 $ 0 $ 0 Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 200 $ (53) $ 147 Reclassification of (gains)/losses to: Cost of services (13) 3 (10) Cost of sales (23) 7 (17) Cost of financing 6 (2) 5 SG&A expense (14) 4 (10) Other (income) and expense 38 (10) 29 Interest expense 22 (6) 16 Total unrealized gains/(losses) on cash flow hedges $ 217 $ (56) $ 161 Retirement-related benefit plans:* Prior service costs/(credits) $ — $ 0 $ 0 Net (losses)/gains arising during the period 1 (3) (2) Curtailments and settlements 11 (3) 8 Amortization of prior service (credits)/costs 6 (2) 5 Amortization of net (gains)/losses 450 (125) 325 Total retirement-related benefit plans $ 468 $ (132) $ 336 Other comprehensive income/(loss) $ 897 $ (534) $ 363 * These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information. Reclassifications and Taxes Related to Items of Other Comprehensive Income (Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the six months ended June 30, 2023: Other comprehensive income/(loss): Foreign currency translation adjustments $ 29 $ 22 $ 52 Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ (1) $ 0 $ (1) Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ (1) $ 0 $ (1) Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 149 $ (41) $ 107 Reclassification of (gains)/losses to: Cost of services 5 (1) 4 Cost of sales (17) 5 (12) Cost of financing 9 (2) 7 SG&A expense (10) 3 (7) Other (income) and expense (181) 45 (135) Interest expense 42 (11) 32 Total unrealized gains/(losses) on cash flow hedges $ (3) $ (1) $ (4) Retirement-related benefit plans:* Prior service costs/(credits) $ — $ 1 $ 1 Net (losses)/gains arising during the period 2 7 8 Curtailments and settlements 5 (1) 4 Amortization of prior service (credits)/costs (4) 1 (3) Amortization of net (gains)/losses 261 (76) 185 Total retirement-related benefit plans $ 263 $ (69) $ 194 Other comprehensive income/(loss) $ 289 $ (48) $ 241 * These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information. Reclassifications and Taxes Related to Items of Other Comprehensive Income (Dollars in millions) Before Tax Tax (Expense)/ Net of Tax For the six months ended June 30, 2022: Other comprehensive income/(loss): Foreign currency translation adjustments $ 655 $ (483) $ 172 Net changes related to available-for-sale securities: Unrealized gains/(losses) arising during the period $ (1) $ 0 $ 0 Reclassification of (gains)/losses to other (income) and expense — — — Total net changes related to available-for-sale securities $ (1) $ 0 $ 0 Unrealized gains/(losses) on cash flow hedges: Unrealized gains/(losses) arising during the period $ 260 $ (69) $ 191 Reclassification of (gains)/losses to: Cost of services (28) 7 (21) Cost of sales (35) 10 (25) Cost of financing 12 (3) 9 SG&A expense (20) 5 (14) Other (income) and expense 45 (11) 34 Interest expense 43 (11) 32 Total unrealized gains/(losses) on cash flow hedges $ 276 $ (71) $ 205 Retirement-related benefit plans:* Prior service costs/(credits) $ (5) $ 5 $ 0 Net (losses)/gains arising during the period 10 (7) 3 Curtailments and settlements 19 (5) 14 Amortization of prior service (credits)/costs 13 (3) 10 Amortization of net (gains)/losses 917 (256) 662 Total retirement-related benefit plans $ 954 $ (266) $ 689 Other comprehensive income/(loss) $ 1,885 $ (819) $ 1,066 * These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.
Accumulated other comprehensive income/(loss) (net of tax)	(Dollars in millions) Net Unrealized Foreign Net Change Net Unrealized Accumulated January 1, 2023 $ (135) $ (3,591) $ (13,013) $ (1) $ (16,740) Other comprehensive income before reclassifications 107 52 9 (1) 167 Amount reclassified from accumulated other comprehensive income (112) — 185 — 74 Total change for the period $ (4) $ 52 $ 194 $ (1) $ 241 June 30, 2023 $ (139) $ (3,539) $ (12,819) $ (2) $ (16,499) (Dollars in millions) Net Unrealized Foreign Net Change Net Unrealized Accumulated January 1, 2022 $ (18) $ (3,362) $ (19,854) $ (1) $ (23,234) Other comprehensive income before reclassifications 191 172 3 0 366 Amount reclassified from accumulated other comprehensive income 14 — 686 — 699 Total change for the period $ 205 $ 172 $ 689 $ 0 $ 1,066 June 30, 2022 $ 187 $ (3,189) $ (19,165) $ (1) $ (22,169) * Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amounts related to cumulative basis adjustments for fair value hedges	At June 30, 2023 and December 31, 2022, the following amounts were recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges: (Dollars in millions) June 30, December 31, Short-term debt: Carrying amount of the hedged item $ (203) $ (199) Cumulative hedging adjustments included in the carrying amount — assets/(liabilities)* $ (3) $ 1 Long-term debt: Carrying amount of the hedged item $ (6,540) $ (6,216) Cumulative hedging adjustments included in the carrying amount — assets/(liabilities)* $ 147 $ 72 * Includes ($225) million and ($250) million of hedging adjustments on discontinued hedging relationships at June 30, 2023 and December 31, 2022, respectively.
Effect of derivative instruments in the Consolidated Income Statement	The total amounts of income and expense line items presented in the Consolidated Income Statement in which the effects of fair value hedges, cash flow hedges, net investment hedges and derivatives not designated as hedging instruments are recorded and the total effect of hedge activity on these income and expense line items are as follows: (Dollars in millions) Total Gains/(Losses) of For the three months ended June 30: 2023 2022 2023 2022 Cost of services $ 5,294 $ 5,399 $ (3) $ 13 Cost of sales $ 1,587 $ 1,750 $ 2 $ 23 Cost of financing $ 93 $ 96 $ (3) $ 1 SG&A expense $ 4,900 $ 4,855 $ 43 $ (152) Other (income) and expense $ (261) $ (81) $ (141) $ (439) Interest expense $ 423 $ 297 $ (18) $ 3 Gain (Loss) Recognized in Consolidated Income Statement (Dollars in millions) Consolidated Recognized on Attributable to Risk Being Hedged (2) For the three months ended June 30: 2023 2022 2023 2022 Derivative instruments in fair value hedges (1) : Interest rate contracts Cost of financing $ (30) $ (17) $ 25 $ 23 Interest expense (153) (61) 130 81 Derivative instruments not designated as hedging instruments: Foreign exchange contracts Other (income) and expense (196) (313) N/A N/A Equity contracts SG&A expense 42 (166) N/A N/A Other (income) and expense — (88) N/A N/A Total $ (337) $ (645) $ 155 $ 104 Gain (Loss) Recognized in Consolidated Income Statement and Other Comprehensive Income Recognized in OCI Consolidated Reclassified Amounts Excluded from Effectiveness Testing (3) (Dollars in millions) For the three months ended June 30: 2023 2022 2023 2022 2023 2022 Derivative instruments in cash flow hedges: Interest rate contracts $ — $ — Cost of financing $ (1) $ (1) $ — $ — Interest expense (4) (3) — — Foreign exchange contracts 178 200 Cost of services (3) 13 — — Cost of sales 2 23 — — Cost of financing (3) (5) — — SG&A expense 1 14 — — Other (income) and expense 55 (38) — — Interest expense (18) (19) — — Instruments in net investment hedges (4) : Foreign exchange contracts 136 1,379 Cost of financing — — 5 1 Interest expense — — 27 5 Total $ 313 $ 1,579 $ 30 $ (16) $ 32 $ 6 (1) The amount includes changes in clean fair values of the derivative instruments in fair value hedging relationships and the periodic accrual for coupon payments required under these derivative contracts. (2) The amount includes basis adjustments to the carrying value of the hedged item recorded during the period and amortization of basis adjustments recorded on de-designated hedging relationships during the period. (3) The company’s policy is to recognize all fair value changes in amounts excluded from effectiveness testing in net income each period. (4) Instruments in net investment hedges include derivative and non-derivative instruments with the amounts recognized in OCI providing an offset to the translation of foreign subsidiaries. N/A - not applicable (Dollars in millions) Total Gains/(Losses) of For the six months ended June 30: 2023 2022 2023 2022 Cost of services $ 10,604 $ 10,747 $ (5) $ 28 Cost of sales $ 2,910 $ 3,165 $ 17 $ 35 Cost of financing $ 203 $ 194 $ (7) $ (1) SG&A expense $ 9,754 $ 9,452 $ 102 $ (223) Other (income) and expense $ (506) $ 166 $ 1 $ (541) Interest expense $ 790 $ 607 $ (31) $ (3) Gain (Loss) Recognized in Consolidated Income Statement (Dollars in millions) Consolidated Recognized on Attributable to Risk Being Hedged (2) For the six months ended June 30: 2023 2022 2023 2022 Derivative instruments in fair value hedges (1) : Interest rate contracts Cost of financing $ (21) $ (18) $ 13 $ 26 Interest expense (96) (65) 58 97 Derivative instruments not designated as hedging instruments: Foreign exchange contracts Other (income) and expense (180) (409) N/A N/A Equity contracts SG&A expense 91 (243) N/A N/A Other (income) and expense — (88) N/A N/A Total $ (206) $ (821) $ 71 $ 123 Gain (Loss) Recognized in Consolidated Income Statement and Other Comprehensive Income Recognized in OCI Consolidated Reclassified Amounts Excluded from Effectiveness Testing (3) (Dollars in millions) For six months ended June 30: 2023 2022 2023 2022 2023 2022 Derivative instruments in cash flow hedges: Interest rate contracts $ — $ — Cost of financing $ (2) $ (2) $ — $ — Interest expense (7) (7) — — Foreign exchange contracts 149 260 Cost of services (5) 28 — — Cost of sales 17 35 — — Cost of financing (8) (10) — — SG&A expense 10 20 — — Other (income) and expense 181 (45) — — Interest expense (35) (36) — — Instruments in net investment hedges (4) : Foreign exchange contracts (88) 1,920 Cost of financing — — 11 2 Interest expense — — 49 7 Total $ 61 $ 2,180 $ 152 $ (16) $ 60 $ 9 (1) The amount includes changes in clean fair values of the derivative instruments in fair value hedging relationships and the periodic accrual for coupon payments required under these derivative contracts. (2) The amount includes basis adjustments to the carrying value of the hedged item recorded during the period and amortization of basis adjustments recorded on de-designated hedging relationships during the period. (3) The company’s policy is to recognize all fair value changes in amounts excluded from effectiveness testing in net income each period. (4) Instruments in net investment hedges include derivative and non-derivative instruments with the amounts recognized in OCI providing an offset to the translation of foreign subsidiaries. N/A - not applicable

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation cost included in income from continuing operations	The following table presents total stock-based compensation cost included in income from continuing operations. Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2023 2022 2023 2022 Cost $ 47 $ 43 $ 93 $ 84 Selling, general and administrative 168 153 317 289 Research, development and engineering 73 58 146 115 Pre-tax stock-based compensation cost $ 288 $ 254 $ 556 $ 488 Income tax benefits (75) (82) (142) (139) Total net stock-based compensation cost $ 213 $ 172 $ 414 $ 348

Retirement-Related Benefits (Ta

Retirement-Related Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Pre-tax cost for all retirement-related plans	The following tables provide the pre-tax cost for all retirement-related plans. Yr. to Yr. (Dollars in millions) Percent For the three months ended June 30: 2023 2022 Change Retirement-related plans — cost: Defined benefit and contribution pension plans — cost $ 259 $ 456 (43.2) % Nonpension postretirement plans — cost 33 33 (2.2) Total $ 292 $ 489 (40.4) % Yr. to Yr. (Dollars in millions) Percent For the six months ended June 30: 2023 2022 Change Retirement-related plans — cost: Defined benefit and contribution pension plans — cost $ 541 $ 934 (42.1) % Nonpension postretirement plans — cost 65 66 (1.9) Total $ 606 $ 1,000 (39.4) %
Components of net periodic (income)/cost of the company's retirement-related benefit plans	The following tables provide the components of the cost/(income) for the company’s pension plans. (Dollars in millions) U.S. Plans Non-U.S. Plans For the three months ended June 30: 2023 2022 2023 2022 Service cost $ — $ — $ 44 $ 59 Interest cost* 272 302 292 131 Expected return on plan assets* (382) (475) (362) (259) Amortization of prior service costs/(credits)* 0 2 5 3 Recognized actuarial losses* 27 179 101 260 Curtailments and settlements* — — 6 11 Multi-employer plans — — 3 3 Other costs/(credits)* — — 10 6 Total net periodic pension (income)/cost of defined benefit plans $ (82) $ 8 $ 99 $ 215 Cost of defined contribution plans 151 141 91 92 Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement $ 69 $ 149 $ 190 $ 307 (Dollars in millions) U.S. Plans Non-U.S. Plans For the six months ended June 30: 2023 2022 2023 2022 Service cost $ — $ — $ 88 $ 123 Interest cost* 545 603 580 270 Expected return on plan assets* (764) (950) (718) (532) Amortization of prior service costs/(credits)* 0 4 10 7 Recognized actuarial losses* 55 359 203 537 Curtailments and settlements* — — 5 19 Multi-employer plans — — 6 7 Other costs/(credits)* — — 19 15 Total net periodic pension (income)/cost of defined benefit plans $ (165) $ 15 $ 194 $ 446 Cost of defined contribution plans 323 282 188 190 Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement $ 158 $ 298 $ 382 $ 636
Components of the cost/(income) for the company's nonpension postretirement plans	The following tables provide the components of the cost for the company’s nonpension postretirement plans. (Dollars in millions) U.S. Plan Non-U.S. Plans For the three months ended June 30: 2023 2022 2023 2022 Service cost $ 1 $ 1 $ 1 $ 1 Interest cost* 29 18 10 9 Expected return on plan assets* — — (1) (1) Amortization of prior service costs/(credits)* (7) 1 0 0 Recognized actuarial losses* — 2 0 1 Curtailments and settlements* — — — — Total nonpension postretirement plans cost recognized in the Consolidated Income Statement $ 23 $ 23 $ 10 $ 10 (Dollars in millions) U.S. Plan Non-U.S. Plans For the six months ended June 30: 2023 2022 2023 2022 Service cost $ 2 $ 2 $ 1 $ 2 Interest cost* 58 37 19 18 Expected return on plan assets* — — (1) (1) Amortization of prior service costs/(credits)* (15) 2 0 0 Recognized actuarial losses* — 4 (1) 2 Curtailments and settlements* — — — — Total nonpension postretirement plans cost recognized in the Consolidated Income Statement $ 46 $ 46 $ 19 $ 20 * These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.
Schedule of contributions	The table below includes contributions to the following plans: (Dollars in millions) Plan Contributions For the six months ended June 30: 2023 2022 U.S. nonpension postretirement benefit plans $ 134 $ 202 Non-U.S. DB and multi-employer plans* 29 43 Total plan contributions $ 163 $ 245 * Amounts reported net of refunds.

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Income from continuing operations	$ 1,581	$ 1,465	$ 2,515	$ 2,127
Earnings per share, basic (in dollars per share)	$ 1.74	$ 1.54	$ 2.76	$ 2.36
Earnings per share, diluted (in dollars per share)	$ 1.72	$ 1.53	$ 2.73	$ 2.34
Provision for income taxes	$ 419	$ 257	$ 543	$ 218
Effective tax rate	21%	14.90%	17.80%	9.30%
Commitment With Third Party Financial Institution
Noncontrolling Interest [Line Items]
Contractual obligation average payment term duration			90 days
Contractual obligation	$ 115		$ 115		$ 60
Other (income) and expense
Noncontrolling Interest [Line Items]
Noncontrolling interest amounts, net of tax	3.9	$ 5.5	8.4	$ 10.5
Service Life
Noncontrolling Interest [Line Items]
Income from continuing operations	$ 57		$ 131
Earnings per share, basic (in dollars per share)	$ 0.05		$ 0.12
Earnings per share, diluted (in dollars per share)	$ 0.05		$ 0.11
Service Life | Service and Network Equipment New
Noncontrolling Interest [Line Items]
Property, plant and equipment useful life	6 years		6 years		5 years
Service Life | Server and Network Equipment Used
Noncontrolling Interest [Line Items]
Property, plant and equipment useful life	4 years		4 years		3 years

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue by Major Products and Service Offerings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue by Major Products/Service Offerings
Total Revenue	$ 15,475	$ 15,535	$ 29,727	$ 29,732
Operating Segments
Revenue by Major Products/Service Offerings
Total Revenue	15,424	15,355	29,601	29,328
Other
Revenue by Major Products/Service Offerings
Revenue	51	180	126	404
Software | Operating Segments
Revenue by Major Products/Service Offerings
Total Revenue	6,608	6,166	12,529	11,938
Consulting | Operating Segments
Revenue by Major Products/Service Offerings
Total Revenue	5,013	4,809	9,975	9,637
Infrastructure | Operating Segments
Revenue by Major Products/Service Offerings
Total Revenue	3,618	4,235	6,716	7,453
Financing | Operating Segments
Revenue by Major Products/Service Offerings
Total Revenue	185	146	380	300
Hybrid Platform & Solutions | Software | Operating Segments
Revenue by Major Products/Service Offerings
Revenue	4,665	4,390	8,844	8,470
Transaction Processing | Software | Operating Segments
Revenue by Major Products/Service Offerings
Revenue	1,943	1,776	3,685	3,468
Business Transformation | Consulting | Operating Segments
Revenue by Major Products/Service Offerings
Revenue	2,295	2,227	4,578	4,482
Application Operations | Consulting | Operating Segments
Revenue by Major Products/Service Offerings
Revenue	1,758	1,653	3,494	3,272
Technology Consulting | Consulting | Operating Segments
Revenue by Major Products/Service Offerings
Revenue	961	928	1,904	1,884
Hybrid Infrastructure | Infrastructure | Operating Segments
Revenue by Major Products/Service Offerings
Revenue	2,260	2,760	3,969	4,461
Infrastructure Support | Infrastructure | Operating Segments
Revenue by Major Products/Service Offerings
Revenue	$ 1,358	$ 1,474	$ 2,747	$ 2,993

Revenue Recognition - Disaggr_2

Revenue Recognition - Disaggregation of Revenue by Geography (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue by Geography
Revenue	$ 15,475	$ 15,535	$ 29,727	$ 29,732
Americas
Revenue by Geography
Revenue	8,046	8,142	15,124	15,198
Europe/Middle East/Africa
Revenue by Geography
Revenue	4,602	4,526	8,933	8,757
Asia Pacific
Revenue by Geography
Revenue	$ 2,827	$ 2,868	$ 5,670	$ 5,778

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Details) $ in Billions	6 Months Ended
	Jun. 30, 2023 USD ($)
Remaining Performance Obligations
Practical expedient, remaining performance obligations	true
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied	$ 58
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Remaining Performance Obligations
Percentage of remaining performance obligation expected to be recognized	72%
Duration of expected recognition period for remaining performance obligation	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Remaining Performance Obligations
Percentage of remaining performance obligation expected to be recognized	26%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Minimum
Remaining Performance Obligations
Duration of expected recognition period for remaining performance obligation	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Maximum
Remaining Performance Obligations
Duration of expected recognition period for remaining performance obligation	5 years

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations Satisfied or Partially Satisfied in Prior Periods (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Performance obligations satisfied	$ 14	$ 29

Revenue Recognition - Reconcili

Revenue Recognition - Reconciliation of Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Reconciliation of Contract Balances
Notes and accounts receivable — trade (net of allowances of $217 in 2023 and $233 in 2022)	$ 5,673	$ 5,673	$ 6,541
Notes and accounts receivable - trade, allowances	217	217	233
Contract assets	447	447	464
Deferred income (current)	12,712	12,712	12,032
Deferred income (noncurrent)	3,264	3,264	$ 3,499
Revenue recognized that was included in deferred income at the beginning of the period	$ 4,400	$ 6,800

Revenue Recognition - Trade All

Revenue Recognition - Trade Allowance for Credit Losses (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Roll forward of notes and accounts receivable - trade allowance for credit losses
Allowance for Credit Loss, Beginning Balance	$ 233	$ 218
Additions / (Releases)	31	59
Write-offs	(47)	(31)
Foreign currency and other	1	(14)
Allowance for Credit Loss, Ending Balance	$ 217	$ 233

Segments - Results of Continuin

Segments - Results of Continuing Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Information
Revenue	$ 15,475	$ 15,535	$ 29,727	$ 29,732
Pre-tax income from continuing operations	2,000	1,722	3,058	2,345
Operating Segments
Segment Information
Revenue	15,424	15,355	29,601	29,328
Pre-tax income from continuing operations	$ 2,647	$ 2,577	$ 4,510	$ 4,342
Revenue year-to-year change (as a percent)	0.40%		0.90%
Pre-tax income year-to-year change (as a percent)	2.70%		3.80%
Pre-tax income margin (as a percent)	17.20%	16.80%	15.20%	14.80%
Operating Segments | Software
Segment Information
Revenue	$ 6,608	$ 6,166	$ 12,529	$ 11,938
Pre-tax income from continuing operations	$ 1,504	$ 1,375	$ 2,668	$ 2,509
Revenue year-to-year change (as a percent)	7.20%		5%
Pre-tax income year-to-year change (as a percent)	9.40%		6.30%
Pre-tax income margin (as a percent)	22.80%	22.30%	21.30%	21%
Operating Segments | Consulting
Segment Information
Revenue	$ 5,013	$ 4,809	$ 9,975	$ 9,637
Pre-tax income from continuing operations	$ 446	$ 343	$ 828	$ 691
Revenue year-to-year change (as a percent)	4.30%		3.50%
Pre-tax income year-to-year change (as a percent)	30.10%		19.80%
Pre-tax income margin (as a percent)	8.90%	7.10%	8.30%	7.20%
Operating Segments | Infrastructure
Segment Information
Revenue	$ 3,618	$ 4,235	$ 6,716	$ 7,453
Pre-tax income from continuing operations	$ 633	$ 757	$ 849	$ 956
Revenue year-to-year change (as a percent)	(14.60%)		(9.90%)
Pre-tax income year-to-year change (as a percent)	(16.40%)		(11.20%)
Pre-tax income margin (as a percent)	17.50%	17.90%	12.60%	12.80%
Operating Segments | Financing
Segment Information
Revenue	$ 185	$ 146	$ 380	$ 300
Pre-tax income from continuing operations	$ 64	$ 102	$ 165	$ 186
Revenue year-to-year change (as a percent)	26.20%		26.80%
Pre-tax income year-to-year change (as a percent)	(36.80%)		(11.30%)
Pre-tax income margin (as a percent)	34.90%	69.70%	43.30%	62%

Segments - Revenue Reconciliati

Segments - Revenue Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Revenue	$ 15,475	$ 15,535	$ 29,727	$ 29,732
Operating Segments
Revenue
Revenue	15,424	15,355	29,601	29,328
Other
Revenue
Other‒divested businesses	(1)	162	(1)	316
Other revenue	$ 52	$ 18	$ 127	$ 88

Segments - Pre-Tax Income Recon

Segments - Pre-Tax Income Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pre-tax income from continuing operations
Amortization of acquired intangible assets	$ (389)	$ (458)	$ (781)	$ (919)
Acquisition-related (charges)/income	(7)	(2)	(10)	(9)
Non-operating retirement-related (costs)/income	(1)	(192)	4	(394)
Kyndryl-related impacts	0	(145)	0	(367)
Workforce rebalancing charges	(117)	0	(376)	0
Other divested businesses	(1)	160	(5)	109
Total pre-tax income/(loss) from continuing operations	2,000	1,722	3,058	2,345
Operating Segments
Pre-tax income from continuing operations
Workforce rebalancing charges		(3)		(9)
Total pre-tax income/(loss) from continuing operations	2,647	2,577	4,510	4,342
Unallocated corporate amounts and other
Pre-tax income from continuing operations
Total pre-tax income/(loss) from continuing operations	$ (133)	$ (219)	$ (284)	$ (418)

Acquisitions & Divestitures - A

Acquisitions & Divestitures - Acquisitions (Details) $ in Millions	6 Months Ended
	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($) acquisition	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Acquisitions
Goodwill		$ 56,385	$ 55,949	$ 55,643
Software
Acquisitions
Goodwill		44,005	43,657	43,966
Consulting
Acquisitions
Goodwill		8,000	7,928	6,797
Infrastructure
Acquisitions
Goodwill		$ 4,380	$ 4,363	$ 4,396
2023 Acquisitions
Acquisitions
Percentage of business acquired (as a percent)		100%
Number of acquisitions | acquisition		6
Aggregate acquisitions cost		$ 423
Cash consideration payable		42
Goodwill		$ 301
Estimated percent of goodwill deductible for tax purposes		0%
Weighted average useful life		6 years 9 months 18 days
2023 Acquisitions | Software
Acquisitions
Goodwill		$ 266
2023 Acquisitions | Consulting
Acquisitions
Goodwill		23
2023 Acquisitions | Infrastructure
Acquisitions
Goodwill		$ 12
Apptio | Forecast
Acquisitions
Aggregate acquisitions cost	$ 4,600

Acquisitions & Divestitures - P

Acquisitions & Divestitures - Purchase Price Allocation (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquisitions
Goodwill	$ 56,385	$ 55,949	$ 55,643
2023 Acquisitions
Acquisitions
Current assets	46
Property, plant and equipment/noncurrent assets	7
Goodwill	301
Total assets acquired	458
Current liabilities	26
Noncurrent liabilities	10
Total liabilities assumed	36
Total purchase price	$ 423
Weighted average useful life	6 years 9 months 18 days
2023 Acquisitions | Client relationships
Acquisitions
Intangible assets	$ 37
Weighted average useful life	7 years
2023 Acquisitions | Completed technology
Acquisitions
Intangible assets	$ 66
2023 Acquisitions | Completed technology | Minimum
Acquisitions
Weighted average useful life	5 years
2023 Acquisitions | Completed technology | Maximum
Acquisitions
Weighted average useful life	7 years
2023 Acquisitions | Trademarks
Acquisitions
Intangible assets	$ 2
2023 Acquisitions | Trademarks | Minimum
Acquisitions
Weighted average useful life	2 years
2023 Acquisitions | Trademarks | Maximum
Acquisitions
Weighted average useful life	5 years

Acquisitions & Divestitures - D

Acquisitions & Divestitures - Divestitures (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) divestiture	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Nov. 02, 2022	Nov. 03, 2021
Divestitures
Income/(loss) from discontinued operations, net of tax | $	$ 2	$ (73)	$ (4)	$ (2)
Number of divestitures | divestiture	2
Kyndryl Holdings, Inc
Divestitures
Ownership interest by stockholders (in percent)						19.90%
Kyndryl Holdings, Inc | Kyndryl Holdings, Inc
Divestitures
Kyndryl stock distributed to IBM stockholders						80.10%
Ownership interest by stockholders (in percent)					0%

Other (Income) and Expenses (De

Other (Income) and Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss)
Foreign currency transaction losses/(gains)	$ (166)	$ (494)	$ (78)	$ (670)
(Gains)/losses on derivative instruments	141	439	(1)	541
Interest income	(201)	(28)	(371)	(46)
Net (gains)/losses from securities and investment assets	3	54	8	273
Retirement-related costs/(income)	1	192	(4)	394
Other	(39)	(243)	(61)	(327)
Total other (income) and expense	$ (261)	(81)	$ (506)	166
Unrealized loss on retained shares		56		278
Gain related to divestiture of healthcare software assets		232
Cash-Settled Swap
Derivative Instruments, Gain (Loss)
(Gains)/losses on derivative instruments		$ 88		$ 88

Earnings_(Loss) Per Share of _3

Earnings/(Loss) Per Share of Common Stock - Computation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Number of shares on which basic earnings per share is calculated:
Weighted-average shares outstanding during period (in shares)	909,855,943	901,470,793	908,691,415	900,393,410
Add - Incremental shares under stock-based compensation plans (in shares)	7,584,035	7,518,749	8,096,637	7,946,998
Add - Incremental shares associated with contingently issuable shares (in shares)	2,012,519	1,760,192	1,860,836	1,647,528
Number of shares on which diluted earnings per share is calculated (in shares)	919,452,496	910,749,734	918,648,888	909,987,935
Net income on which basic earnings per share is calculated
Income from continuing operations	$ 1,581	$ 1,465	$ 2,515	$ 2,127
Income/(loss) from discontinued operations, net of tax	2	(73)	(4)	(2)
Net income	1,583	1,392	2,511	2,125	[1]
Net income/(loss) on which diluted earnings per share is calculated
Income from continuing operations	1,581	1,465	2,515	2,127
Net income applicable to contingently issuable shares	0	0	0	0
Income from continuing operations on which diluted earnings per share is calculated	1,581	1,465	2,515	2,127
Income/(loss) from discontinued operations, net of tax, on which diluted earnings per share is calculated	2	(73)	(4)	(2)
Net income on which diluted earnings per share is calculated	$ 1,583	$ 1,392	$ 2,511	$ 2,125
Assuming dilution:
Continuing operations (in dollars per share)	$ 1.72	$ 1.61	$ 2.74	$ 2.34
Discontinued operations (in dollars per share)	0	(0.08)	0	0
Total (in dollars per share)	1.72	1.53	2.73	2.34
Basic:
Continuing operations (in dollars per share)	1.74	1.62	2.77	2.36
Discontinued operations (in dollars per share)	0	(0.08)	0	0
Total (in dollars per share)	$ 1.74	$ 1.54	$ 2.76	$ 2.36
[1]Includes immaterial cash flows from discontinued operations.

Earnings_(Loss) Per Share of _4

Earnings/(Loss) Per Share of Common Stock - Antidilutive Stock Options (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock option
Antidilutive stock options
Outstanding stock options not included in the computation of diluted earnings per share (in shares)	5,541,485	788,500	3,251,207	975,911

Financial Assets & Liabilitie_2

Financial Assets & Liabilities - Impairment (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Investments, All Other Investments [Abstract]
Impairment for credit losses	$ 0	$ 0

Financial Assets & Liabilitie_3

Financial Assets & Liabilities - Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Financial assets and financial liabilities measured at fair value on a recurring basis:
Debt securities - current	$ 6,904	$ 852
Fair Value, Recurring
Financial assets and financial liabilities measured at fair value on a recurring basis:
Cash equivalents	4,782	4,018
Total assets	12,096	5,179
Total liabilities	824	1,034
Fair Value, Recurring | Prepaid Expenses and Other Current Assets
Financial assets and financial liabilities measured at fair value on a recurring basis:
Derivative assets	369	271
Fair Value, Recurring | Other Noncurrent Assets
Financial assets and financial liabilities measured at fair value on a recurring basis:
Derivative assets	8	7
Fair Value, Recurring | Other Current Liabilities
Financial assets and financial liabilities measured at fair value on a recurring basis:
Derivative liabilities	274	546
Fair Value, Recurring | Other Noncurrent Liabilities
Financial assets and financial liabilities measured at fair value on a recurring basis:
Derivative liabilities	551	488
Fair Value, Recurring | Level 1 | Money market funds
Financial assets and financial liabilities measured at fair value on a recurring basis:
Cash equivalents	399	306
Fair Value, Recurring | Level 2
Financial assets and financial liabilities measured at fair value on a recurring basis:
Debt securities - current	6,904	852
Fair Value, Recurring | Level 2 | Interest rate contracts
Financial assets and financial liabilities measured at fair value on a recurring basis:
Derivatives designated as hedging - Assets	0	3
Derivatives designated as hedging - Liabilities	400	336
Fair Value, Recurring | Level 2 | Foreign exchange contracts
Financial assets and financial liabilities measured at fair value on a recurring basis:
Derivatives designated as hedging - Assets	342	184
Derivatives designated as hedging - Liabilities	374	674
Derivatives not designated as hedging - Assets	14	42
Derivatives not designated as hedging - Liabilities	47	16
Fair Value, Recurring | Level 2 | Equity contracts
Financial assets and financial liabilities measured at fair value on a recurring basis:
Derivatives not designated as hedging - Assets	21	49
Derivatives not designated as hedging - Liabilities	4	8
Fair Value, Recurring | Level 2 | Time deposits and certificates of deposit
Financial assets and financial liabilities measured at fair value on a recurring basis:
Cash equivalents	4,383	3,712
Fair Value, Recurring | Level 2 And 3
Financial assets and financial liabilities measured at fair value on a recurring basis:
Debt securities - noncurrent	$ 33	$ 31

Financial Assets & Liabilitie_4

Financial Assets & Liabilities - Not Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Long-Term Debt
Long-term debt	$ 50,691	$ 46,189
Fair value of long-term debt	$ 47,250	$ 42,514

Financing Receivables - Payment

Financing Receivables - Payment Terms (Details)	6 Months Ended
	Jun. 30, 2023
Loans Receivable | Maximum
Financing receivables
Financing receivable, payment terms	7 years
Finance Leases Portfolio Segment | Minimum
Financing receivables
Financing receivable, payment terms	2 years
Finance Leases Portfolio Segment | Maximum
Financing receivables
Financing receivable, payment terms	6 years
Commercial Financing Receivables | Minimum
Financing receivables
Financing receivable, payment terms	30 days
Commercial Financing Receivables | Maximum
Financing receivables
Financing receivable, payment terms	90 days

Financing Receivables - Compone

Financing Receivables - Components of Financing Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Components of the company's financing receivables
Net investment in lease, gross	$ 3,853	$ 4,023
Net investment in lease, unearned income	(377)	(351)
Net investment in lease, unguaranteed residual value	404	422
Net investment in lease, amortized cost	3,880	4,094
Net investment in lease, allowance for credit loss	(62)	(60)
Total net investment in lease, net	3,818	4,034
Financing receivable and net investment in lease, gross	12,230	14,136
Financing receivable and net investment in lease, unearned income	(813)	(790)
Financing receivable and net investment in lease, unguaranteed residual value	404	422
Financing receivable and net investment in lease, amortized cost	11,821	13,769
Financing receivable and net investment in lease, allowance for credit loss	(171)	(173)
Financing receivable and net investment in lease, net	11,650	13,596
Asset Pledged as Collateral
Components of the company's financing receivables
Amortized cost	251	349
Current portion
Components of the company's financing receivables
Net investment in lease, current	1,393	1,485
Financing receivable and net investment in lease, net	6,429	7,790
Noncurrent portion
Components of the company's financing receivables
Net investment in lease, noncurrent	2,425	2,549
Financing receivable and net investment in lease, net	5,221	5,806
Loans Receivable
Components of the company's financing receivables
Financing receivables, gross	7,262	8,875
Unearned income	(436)	(439)
Amortized cost	6,826	8,437
Allowance for credit losses	(104)	(108)
Total financing receivables, net	6,722	8,329
Loans Receivable | Current portion
Components of the company's financing receivables
Total financing receivables, net	3,925	5,073
Loans Receivable | Noncurrent portion
Components of the company's financing receivables
Total financing receivables, net	2,796	3,256
Investment
Components of the company's financing receivables
Financing receivables, gross	251	299
Amortized cost	251	299
Allowance for credit losses	(5)	(5)
Total financing receivables, net	245	293
Investment | Current portion
Components of the company's financing receivables
Total financing receivables, net	245	293
Held for Sale
Components of the company's financing receivables
Financing receivables, gross	865	939
Amortized cost	865	939
Total financing receivables, net	865	939
Held for Sale | Current portion
Components of the company's financing receivables
Total financing receivables, net	$ 865	$ 939

Financing Receivables - Transfe

Financing Receivables - Transfer of Financing Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Financing receivables
Financing receivable transferred, net gain (loss)	$ (45)	$ (22)
Commercial Financing Receivables
Financing receivables
Financing receivables transferred	4,345	3,914
Financing receivables transferred and uncollected	$ 928	$ 815

Financing Receivables - By Port

Financing Receivables - By Portfolio Segment (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) class	Dec. 31, 2022 USD ($) class
Financing receivables
Number of classes of financing receivable | class	3	3
Amortized cost	$ 11,821	$ 13,769
Allowance for credit losses:
Allowance for credit losses, beginning balance	173
Allowance for credit losses, ending balance	171	173
Client Financing Receivables
Financing receivables
Amortized cost	10,705	12,531
Allowance for credit losses:
Allowance for credit losses, beginning balance	168	195
Write-offs	(4)	(25)
Recoveries	1	5
Additions/(releases)	(6)	(3)
Other	7	(4)
Allowance for credit losses, ending balance	165	168
Client Financing Receivables | Americas
Financing receivables
Amortized cost	6,317	7,281
Allowance for credit losses:
Allowance for credit losses, beginning balance	88	111
Write-offs	(3)	(20)
Recoveries	0	1
Additions/(releases)	6	(5)
Other	7	2
Allowance for credit losses, ending balance	98	88
Client Financing Receivables | Europe/Middle East/Africa
Financing receivables
Amortized cost	3,019	3,546
Allowance for credit losses:
Allowance for credit losses, beginning balance	60	61
Write-offs	0	(3)
Recoveries	0	0
Additions/(releases)	(12)	6
Other	0	(5)
Allowance for credit losses, ending balance	48	60
Client Financing Receivables | Asia Pacific
Financing receivables
Amortized cost	1,370	1,704
Allowance for credit losses:
Allowance for credit losses, beginning balance	20	23
Write-offs	0	(2)
Recoveries	0	4
Additions/(releases)	0	(4)
Other	(1)	(2)
Allowance for credit losses, ending balance	$ 19	$ 20

Financing Receivables - Past Du

Financing Receivables - Past Due (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Past Due Financing Receivable
Amortized cost	$ 11,821	$ 13,769
Client Financing Receivables
Past Due Financing Receivable
Amortized cost	10,705	12,531
Amortized Cost Not Accruing	124	137
Impaired financing receivables, related allowance	121	122
Client Financing Receivables | Financial Asset, Equal to or Greater than 90 Days Past Due
Past Due Financing Receivable
Amortized cost	200	344
Amortized Cost > 90 Days and Accruing	78	208
Billed Invoices > 90 Days and Accruing	8	23
Client Financing Receivables | Americas
Past Due Financing Receivable
Amortized cost	6,317	7,281
Amortized Cost Not Accruing	77	74
Client Financing Receivables | Americas | Financial Asset, Equal to or Greater than 90 Days Past Due
Past Due Financing Receivable
Amortized cost	147	272
Amortized Cost > 90 Days and Accruing	72	198
Billed Invoices > 90 Days and Accruing	6	22
Client Financing Receivables | Europe/Middle East/Africa
Past Due Financing Receivable
Amortized cost	3,019	3,546
Amortized Cost Not Accruing	31	46
Client Financing Receivables | Europe/Middle East/Africa | Financial Asset, Equal to or Greater than 90 Days Past Due
Past Due Financing Receivable
Amortized cost	35	52
Amortized Cost > 90 Days and Accruing	4	8
Billed Invoices > 90 Days and Accruing	1	1
Client Financing Receivables | Asia Pacific
Past Due Financing Receivable
Amortized cost	1,370	1,704
Amortized Cost Not Accruing	16	17
Client Financing Receivables | Asia Pacific | Financial Asset, Equal to or Greater than 90 Days Past Due
Past Due Financing Receivable
Amortized cost	17	20
Amortized Cost > 90 Days and Accruing	2	3
Billed Invoices > 90 Days and Accruing	$ 1	$ 1

Financing Receivables - Credit

Financing Receivables - Credit Quality Year of Origination (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Amortized cost for each class of receivables, by credit quality indicator
Financing receivable and net investment in lease, amortized cost	$ 11,821	$ 13,769
Americas | Aaa – Baa3
Amortized cost for each class of receivables, by credit quality indicator
Originated in current fiscal year	1,011	3,316
Originated in fiscal year before latest fiscal year	2,363	1,197
Originated two years before latest fiscal year	887	559
Originated three years before latest fiscal year	337	251
Originated four years before latest fiscal year	179	128
Originated five or more years before latest fiscal year	63	32
Financing receivable and net investment in lease, amortized cost	4,841	5,482
Americas | Ba1 – D
Amortized cost for each class of receivables, by credit quality indicator
Originated in current fiscal year	466	1,097
Originated in fiscal year before latest fiscal year	507	323
Originated two years before latest fiscal year	231	217
Originated three years before latest fiscal year	161	91
Originated four years before latest fiscal year	46	26
Originated five or more years before latest fiscal year	65	45
Financing receivable and net investment in lease, amortized cost	1,476	1,800
Europe/Middle East/Africa | Aaa – Baa3
Amortized cost for each class of receivables, by credit quality indicator
Originated in current fiscal year	438	1,447
Originated in fiscal year before latest fiscal year	895	451
Originated two years before latest fiscal year	336	258
Originated three years before latest fiscal year	145	161
Originated four years before latest fiscal year	79	42
Originated five or more years before latest fiscal year	18	14
Financing receivable and net investment in lease, amortized cost	1,911	2,373
Europe/Middle East/Africa | Ba1 – D
Amortized cost for each class of receivables, by credit quality indicator
Originated in current fiscal year	307	704
Originated in fiscal year before latest fiscal year	498	159
Originated two years before latest fiscal year	110	158
Originated three years before latest fiscal year	99	99
Originated four years before latest fiscal year	56	16
Originated five or more years before latest fiscal year	37	38
Financing receivable and net investment in lease, amortized cost	1,108	1,173
Asia Pacific | Aaa – Baa3
Amortized cost for each class of receivables, by credit quality indicator
Originated in current fiscal year	248	799
Originated in fiscal year before latest fiscal year	476	203
Originated two years before latest fiscal year	146	210
Originated three years before latest fiscal year	140	127
Originated four years before latest fiscal year	75	84
Originated five or more years before latest fiscal year	57	12
Financing receivable and net investment in lease, amortized cost	1,142	1,434
Asia Pacific | Ba1 – D
Amortized cost for each class of receivables, by credit quality indicator
Originated in current fiscal year	53	96
Originated in fiscal year before latest fiscal year	60	65
Originated two years before latest fiscal year	48	49
Originated three years before latest fiscal year	30	22
Originated four years before latest fiscal year	13	21
Originated five or more years before latest fiscal year	24	17
Financing receivable and net investment in lease, amortized cost	$ 227	$ 269

Leases - Lease Amounts Included

Leases - Lease Amounts Included in Consolidated Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lease income — sales-type and direct financing leases:
Sales-type lease selling price	$ 248	$ 735	$ 338	$ 789
Less: Carrying value of underlying assets	(61)	(120)	(91)	(139)
Gross profit	187	615	247	651
Interest income on lease receivables	59	45	118	90
Total sales-type and direct financing lease income	246	660	365	741
Lease income — operating leases	25	27	51	56
Variable lease income	14	28	35	56
Total lease income	$ 284	$ 715	$ 451	$ 853

Intangible Assets Including G_3

Intangible Assets Including Goodwill - Intangible Assets by Class (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Intangible asset balances by major asset class
Gross Carrying Amount	$ 16,827	$ 17,588
Accumulated Amortization	(6,331)	(6,404)
Net Carrying Amount	10,496	11,184
Amount of foreign currency translation increase (decrease)	24	(198)
Capitalized software
Intangible asset balances by major asset class
Gross Carrying Amount	1,622	1,650
Accumulated Amortization	(707)	(705)
Net Carrying Amount	915	945
Client relationships
Intangible asset balances by major asset class
Gross Carrying Amount	8,274	8,559
Accumulated Amortization	(3,056)	(2,951)
Net Carrying Amount	5,217	5,608
Completed technology
Intangible asset balances by major asset class
Gross Carrying Amount	5,131	5,220
Accumulated Amortization	(2,174)	(2,045)
Net Carrying Amount	2,957	3,175
Patents/trademarks
Intangible asset balances by major asset class
Gross Carrying Amount	1,781	2,140
Accumulated Amortization	(378)	(688)
Net Carrying Amount	1,403	1,452
Other
Intangible asset balances by major asset class
Gross Carrying Amount	19	19
Accumulated Amortization	(16)	(15)
Net Carrying Amount	$ 3	$ 4

Intangible Assets Including G_4

Intangible Assets Including Goodwill - Intangible Assets Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, increase (decrease)			$ (688)
Intangible asset amortization expense	$ 556	$ 625	1,104	$ 1,251
Retirement of fully amortized intangible assets			$ 1,189

Intangible Assets Including G_5

Intangible Assets Including Goodwill - Future Amortization (Details) $ in Millions	Jun. 30, 2023 USD ($)
Future amortization expense, by year
Remainder of 2023	$ 1,089
2024	1,967
2025	1,713
2026	1,542
2027	1,496
Thereafter	2,688
Capitalized software
Future amortization expense, by year
Remainder of 2023	303
2024	410
2025	175
2026	27
2027	0
Thereafter	0
Acquired intangibles
Future amortization expense, by year
Remainder of 2023	786
2024	1,557
2025	1,538
2026	1,515
2027	1,496
Thereafter	$ 2,688

Intangible Assets Including G_6

Intangible Assets Including Goodwill - Goodwill by Segment (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Changes in Goodwill Balances
Beginning Balance	$ 55,949	$ 55,643
Goodwill Additions	302	1,934
Purchase Price Adjustments	(1)	(159)
Divestitures	0	(485)
Foreign Currency Translation and Other Adjustments	136	(984)
Ending Balance	56,385	55,949
Goodwill impairment losses	0	0
Goodwill accumulated impairment losses	0	0
Software
Changes in Goodwill Balances
Beginning Balance	43,657	43,966
Goodwill Additions	267	568
Purchase Price Adjustments	(7)	(118)
Divestitures	0	0
Foreign Currency Translation and Other Adjustments	88	(760)
Ending Balance	44,005	43,657
Consulting
Changes in Goodwill Balances
Beginning Balance	7,928	6,797
Goodwill Additions	23	1,366
Purchase Price Adjustments	6	(42)
Divestitures	0	0
Foreign Currency Translation and Other Adjustments	43	(192)
Ending Balance	8,000	7,928
Infrastructure
Changes in Goodwill Balances
Beginning Balance	4,363	4,396
Goodwill Additions	12	0
Purchase Price Adjustments	0	0
Divestitures	0	(1)
Foreign Currency Translation and Other Adjustments	4	(32)
Ending Balance	4,380	4,363
Other
Changes in Goodwill Balances
Beginning Balance	0	484
Goodwill Additions	0	0
Purchase Price Adjustments	0	0
Divestitures	0	(484)
Foreign Currency Translation and Other Adjustments	0	0
Ending Balance	$ 0	$ 0

Borrowings - Short-Term Debt (D

Borrowings - Short-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Short-term debt disclosures
Short-term loans	$ 5	$ 8
Long-term debt - current maturities	6,780	4,751
Total	$ 6,785	$ 4,760
Loans Payable
Short-term debt disclosures
Weighted-average interest rates for short-term debt (as a percent)	8.60%	7.60%

Borrowings - Long-Term Debt, Co

Borrowings - Long-Term Debt, Components (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Borrowings
Long-term debt, gross	$ 58,637	$ 51,986
Long-term debt excluding finance lease obligations	58,369	51,747
Less: net unamortized discount	859	835
Less: net unamortized debt issuance costs	164	138
Add: fair value adjustment	(144)	(73)
Total	57,471	50,940
Less: current maturities	6,780	4,751
Total long-term debt (excluding current portion)	50,691	46,189
United States of America, Dollars
Borrowings
Long-term debt, gross	36,828	33,605
Maturing 2023 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 1,508	1,529
Debt instrument, weighted-average interest rate (as a percent)	3.40%
Maturing 2024 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 5,005	5,009
Debt instrument, weighted-average interest rate (as a percent)	3.30%
Maturing 2025 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 1,602	1,603
Debt instrument, weighted-average interest rate (as a percent)	5.10%
Maturing 2026 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 5,201	4,351
Debt instrument, weighted-average interest rate (as a percent)	3.50%
Maturing 2027 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 3,620	3,620
Debt instrument, weighted-average interest rate (as a percent)	3.10%
Maturing 2028 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 1,313	313
Debt instrument, weighted-average interest rate (as a percent)	5%
Maturing 2029 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 3,250	3,250
Debt instrument, weighted-average interest rate (as a percent)	3.50%
Maturing 2030 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 1,350	1,350
Debt instrument, weighted-average interest rate (as a percent)	2%
Maturing 2032 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 1,850	1,850
Debt instrument, weighted-average interest rate (as a percent)	4.40%
Maturing 2033 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 750	0
Debt instrument, weighted-average interest rate (as a percent)	4.80%
Maturing 2038 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 83	83
Debt instrument, weighted-average interest rate (as a percent)	8%
Maturing 2038 | United Kingdom, Pounds
Borrowings
Long-term debt, gross	$ 954	0
Debt instrument, weighted-average interest rate (as a percent)	4.90%
Maturing 2039 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 2,745	2,745
Debt instrument, weighted-average interest rate (as a percent)	4.50%
Maturing 2040 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 650	650
Debt instrument, weighted-average interest rate (as a percent)	2.90%
Maturing 2042 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 1,107	1,107
Debt instrument, weighted-average interest rate (as a percent)	4%
Maturing 2045 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 27	27
Debt instrument, weighted-average interest rate (as a percent)	7%
Maturing 2046 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 650	650
Debt instrument, weighted-average interest rate (as a percent)	4.70%
Maturing 2049 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 3,000	3,000
Debt instrument, weighted-average interest rate (as a percent)	4.30%
Maturing 2050 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 750	750
Debt instrument, weighted-average interest rate (as a percent)	3%
Maturing 2052 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 1,400	1,400
Debt instrument, weighted-average interest rate (as a percent)	4.20%
Maturing 2053 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 650	0
Debt instrument, weighted-average interest rate (as a percent)	5.10%
Maturing 2096 | United States of America, Dollars
Borrowings
Long-term debt, gross	$ 316	316
Debt instrument, weighted-average interest rate (as a percent)	7.10%
Maturing 2024-2043 | Euro Member Countries, Euro
Borrowings
Long-term debt, gross	$ 19,095	17,087
Debt instrument, weighted-average interest rate (as a percent)	1.80%
Maturing 2024-2028 | Japan, Yen
Borrowings
Long-term debt, gross	$ 1,221	694
Debt instrument, weighted-average interest rate (as a percent)	0.50%
Maturing 2023-2026 | Other currencies
Borrowings
Long-term debt, gross	$ 272	361
Debt instrument, weighted-average interest rate (as a percent)	16.10%
Finance Lease Obligations Maturing 2023-2030
Borrowings
Finance lease obligations	$ 268	$ 239
Finance lease obligations, interest rate (as a percent)	3.90%

Borrowings - Long-Term Debt, _2

Borrowings - Long-Term Debt, Covenants (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Borrowings
Limit based on net tangible assets	10%
Revolving Credit Facility
Borrowings
Minimum net interest expense ratio	2.20
Default provision on credit facility	$ 500

Borrowings - Long-Term Debt, De

Borrowings - Long-Term Debt, Debt Issued (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Yen floating-rate notes
Notes Issued
Aggregate amount of debt issued	$ 700
Credit facility term	5 years
Euro fixed-rate notes
Notes Issued
Aggregate amount of debt issued	$ 4,600
Euro fixed-rate notes | Minimum
Notes Issued
Credit facility term	4 years
Coupon rate (as a percent)	3.375%
Euro fixed-rate notes | Maximum
Notes Issued
Credit facility term	20 years
Coupon rate (as a percent)	4%
Pound sterling fixed-rate notes
Notes Issued
Aggregate amount of debt issued	$ 900
Credit facility term	15 years
Coupon rate (as a percent)	4.875%
U.S. dollar fixed-rate notes
Notes Issued
Aggregate amount of debt issued	$ 3,250
U.S. dollar fixed-rate notes | Minimum
Notes Issued
Credit facility term	3 years
Coupon rate (as a percent)	4.50%
U.S. dollar fixed-rate notes | Maximum
Notes Issued
Credit facility term	30 years
Coupon rate (as a percent)	5.10%

Borrowings - Pre-Swap Obligatio

Borrowings - Pre-Swap Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Pre-swap annual contractual obligations of long-term debt outstanding
Remainder of 2023	$ 1,668
2024	6,364
2025	4,962
2026	5,534
2027	5,829
Thereafter	34,280
Total	$ 58,637	$ 51,986

Borrowings - Interest on Debt (

Borrowings - Interest on Debt (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Interest on Debt
Interest capitalized	$ 6	$ 2
Total interest paid and accrued	969	775
Cost of financing
Interest on Debt
Interest paid	173	165
Interest expense
Interest on Debt
Interest paid	$ 790	$ 607

Borrowings - Lines of Credit (D

Borrowings - Lines of Credit (Details) - USD ($)	Jun. 15, 2023	Jun. 30, 2023
Revolving Credit Facility
Lines of Credit
Amount of credit facility	$ 10,000,000,000
Borrowings outstanding		$ 0
Three-Year Credit Agreement
Lines of Credit
Amount of credit facility	$ 2,500,000,000
Credit facility term	3 years
Five-Year Credit Agreement
Lines of Credit
Amount of credit facility	$ 7,500,000,000
Credit facility term	5 years

Commitments - Extensions of Cre

Commitments - Extensions of Credit (Details) - USD ($) $ in Billions	Jun. 30, 2023	Dec. 31, 2022
Extended lines of credit
Commitments, guarantees:
Unused amounts in lines of credit to third-party entities and commitments for future financing to clients	$ 1.2	$ 1.6
Financing for client purchase agreements
Commitments, guarantees:
Unused amounts in lines of credit to third-party entities and commitments for future financing to clients	$ 1.7	$ 2.1

Commitments - Standard Warranty

Commitments - Standard Warranty Liability (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Movement in standard warranty liability
Beginning Balance	$ 79	$ 77
Current-period accruals	35	39
Accrual adjustments to reflect actual experience	(14)	(1)
Charges incurred	(43)	(41)
Ending Balance	$ 57	$ 74

Commitments - Extended Warranty

Commitments - Extended Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Movement in deferred income
Amortization of deferred revenue	$ (4,400)	$ (6,800)
Deferred income (current)	12,712	12,712		$ 12,032
Deferred income (noncurrent)	3,264	3,264		$ 3,499
Extended Warranty
Movement in deferred income
Beginning Balance		272	$ 350
Revenue deferred for new extended warranty contracts		20	84
Amortization of deferred revenue		(73)	(83)
Other		(1)	(12)
Ending Balance	218	218	339
Deferred income (current)	119	119	172
Deferred income (noncurrent)	$ 99	$ 99	$ 167

Contingencies (Details)

Contingencies (Details) $ in Millions				6 Months Ended
	May 30, 2022 USD ($)	Apr. 05, 2022 defendant	Jun. 08, 2021 USD ($)	Jun. 30, 2023 USD ($) country
Brazil Tax Matters
Loss Contingencies
Damages sought, value				$ 450
Putative Securities Class Action
Loss Contingencies
Number of current executives named as defendants | defendant		2
Number of former executives named as defendants | defendant		2
BMC v. IBM
Loss Contingencies
Direct damages sought, value	$ 718
Punitive damages sought, value	$ 718
Minimum
Loss Contingencies
Clients' presence in number of countries | country				175
Minimum | IBM v. GF
Loss Contingencies
Damages sought, value			$ 1,500

Equity Activity - Reclassificat

Equity Activity - Reclassifications and Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	$ 6,974	$ 7,246	$ 13,717	$ 14,107
SG&A expense	4,900	4,855	9,754	9,452
Other (income) and expense	(261)	(81)	(506)	166
Interest expense	423	297	790	607
Provision for income taxes	419	257	543	218
Net (income) loss	(1,583)	(1,392)	(2,511)	(2,125)	[1]
Services
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	5,294	5,399	10,604	10,747
Sales
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	1,587	1,750	2,910	3,165
Financing
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	93	96	203	194
Cost of services
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	5,294	5,399	10,604	10,747
Cost of sales
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	1,587	1,750	2,910	3,165
Cost of financing
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	93	96	203	194
SG&A expense
Reclassifications and Taxes Related to Items of Other Comprehensive Income
SG&A expense	4,900	4,855	9,754	9,452
Other (income) and expense
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Other (income) and expense	(261)	(81)	(506)	166
Interest expense
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Interest expense	423	297	790	607
Accumulated Other Comprehensive Income/(Loss)
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Other Comprehensive Income (Loss), before Tax	381	897	289	1,885
Other comprehensive income/(loss), Tax (Expense)/Benefit	(101)	(534)	(48)	(819)
Other comprehensive income/(loss)	280	363	241	1,066
Unrealized gains/(losses) arising during the period, Net of Tax Amount			167	366
Reclassification/amortization, Net of Tax Amount			74	699
Accumulated Foreign Currency Adjustment Attributable to Parent
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Other Comprehensive Income (Loss), before Tax	116	213	29	655
Other comprehensive income/(loss), Tax (Expense)/Benefit	(34)	(347)	22	(483)
Other comprehensive income/(loss)	82	(134)	52	172
Unrealized gains/(losses) arising during the period, Net of Tax Amount			52	172
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Other Comprehensive Income (Loss), before Tax	(17)	0	(1)	(1)
Other comprehensive income/(loss), Tax (Expense)/Benefit	4	0	0	0
Other comprehensive income/(loss)	(12)	0	(1)	0
Unrealized gains/(losses) arising during the period, Before Tax Amount	(17)	0	(1)	(1)
Unrealized gains/(losses) arising during the period, Tax (Expense)/Benefit	4	0	0	0
Unrealized gains/(losses) arising during the period, Net of Tax Amount	(12)	0	(1)	0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Other Comprehensive Income (Loss), before Tax	148	217	(3)	276
Other comprehensive income/(loss), Tax (Expense)/Benefit	(40)	(56)	(1)	(71)
Other comprehensive income/(loss)	109	161	(4)	205
Unrealized gains/(losses) arising during the period, Before Tax Amount	178	200	149	260
Unrealized gains/(losses) arising during the period, Tax (Expense)/Benefit	(48)	(53)	(41)	(69)
Unrealized gains/(losses) arising during the period, Net of Tax Amount	130	147	107	191
Reclassification/amortization, Net of Tax Amount			(112)	14
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications and Taxes Related to Items of Other Comprehensive Income
SG&A expense	(1)	(14)	(10)	(20)
Other (income) and expense	(55)	38	(181)	45
Interest expense	22	22	42	43
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Services
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	3	(13)	5	(28)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Sales
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	(2)	(23)	(17)	(35)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Financing
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Cost	4	6	9	12
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Cost of services
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Provision for income taxes	(1)	3	(1)	7
Net (income) loss	2	(10)	4	(21)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Cost of sales
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Provision for income taxes	1	7	5	10
Net (income) loss	(1)	(17)	(12)	(25)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Cost of financing
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Provision for income taxes	(1)	(2)	(2)	(3)
Net (income) loss	3	5	7	9
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | SG&A expense
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Provision for income taxes	0	4	3	5
Net (income) loss	0	(10)	(7)	(14)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Other (income) and expense
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Provision for income taxes	14	(10)	45	(11)
Net (income) loss	(41)	29	(135)	34
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income | Interest expense
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Provision for income taxes	(5)	(6)	(11)	(11)
Net (income) loss	16	16	32	32
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Other Comprehensive Income (Loss), before Tax	134	468	263	954
Other comprehensive income/(loss), Tax (Expense)/Benefit	(31)	(132)	(69)	(266)
Other comprehensive income/(loss)	102	336	194	689
Unrealized gains/(losses) arising during the period, Net of Tax Amount			9	3
Reclassification/amortization, Net of Tax Amount			185	686
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Unrealized gains/(losses) arising during the period, Before Tax Amount	0	0	0	(5)
Unrealized gains/(losses) arising during the period, Tax (Expense)/Benefit	0	0	1	5
Unrealized gains/(losses) arising during the period, Net of Tax Amount	0	0	1	0
Reclassification/amortization, Before Tax Amount	(2)	6	(4)	13
Reclassification/amortization, Tax (Expense)/Benefit	1	(2)	1	(3)
Reclassification/amortization, Net of Tax Amount	(2)	5	(3)	10
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Unrealized gains/(losses) arising during the period, Before Tax Amount	0	1	2	10
Unrealized gains/(losses) arising during the period, Tax (Expense)/Benefit	7	(3)	7	(7)
Unrealized gains/(losses) arising during the period, Net of Tax Amount	7	(2)	8	3
Reclassification/amortization, Before Tax Amount	130	450	261	917
Reclassification/amortization, Tax (Expense)/Benefit	(38)	(125)	(76)	(256)
Reclassification/amortization, Net of Tax Amount	92	325	185	662
Retirement-Related Benefit Plans, Curtailments and Settlements
Reclassifications and Taxes Related to Items of Other Comprehensive Income
Unrealized gains/(losses) arising during the period, Before Tax Amount	6	11	5	19
Unrealized gains/(losses) arising during the period, Tax (Expense)/Benefit	(1)	(3)	(1)	(5)
Unrealized gains/(losses) arising during the period, Net of Tax Amount	$ 5	$ 8	$ 4	$ 14
[1]Includes immaterial cash flows from discontinued operations.

Equity Activity - AOCI Rollforw

Equity Activity - AOCI Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) (net of tax)
Balance at the beginning of the period	$ 21,672	$ 19,112	$ 22,021	$ 18,996
Balance at the end of the period	22,271	19,476	22,271	19,476
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income (Loss) (net of tax)
Balance at the beginning of the period	(16,780)	(22,532)	(16,740)	(23,234)
Other comprehensive income before reclassifications			167	366
Amount reclassified from accumulated other comprehensive income			74	699
Other comprehensive income/(loss)	280	363	241	1,066
Balance at the end of the period	(16,499)	(22,169)	(16,499)	(22,169)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) (net of tax)
Balance at the beginning of the period			(135)	(18)
Other comprehensive income before reclassifications	130	147	107	191
Amount reclassified from accumulated other comprehensive income			(112)	14
Other comprehensive income/(loss)	109	161	(4)	205
Balance at the end of the period	(139)	187	(139)	187
Accumulated Foreign Currency Adjustment Attributable to Parent
Accumulated Other Comprehensive Income (Loss) (net of tax)
Balance at the beginning of the period			(3,591)	(3,362)
Other comprehensive income before reclassifications			52	172
Other comprehensive income/(loss)	82	(134)	52	172
Balance at the end of the period	(3,539)	(3,189)	(3,539)	(3,189)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Accumulated Other Comprehensive Income (Loss) (net of tax)
Balance at the beginning of the period			(13,013)	(19,854)
Other comprehensive income before reclassifications			9	3
Amount reclassified from accumulated other comprehensive income			185	686
Other comprehensive income/(loss)	102	336	194	689
Balance at the end of the period	(12,819)	(19,165)	(12,819)	(19,165)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent
Accumulated Other Comprehensive Income (Loss) (net of tax)
Balance at the beginning of the period			(1)	(1)
Other comprehensive income before reclassifications	(12)	0	(1)	0
Other comprehensive income/(loss)	(12)	0	(1)	0
Balance at the end of the period	$ (2)	$ (1)	$ (2)	$ (1)

Derivative Financial Instrume_3

Derivative Financial Instruments - Offsetting (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivative Financial Instruments
Cash collateral rehypothecated	$ 0	$ 8
Potential reduction in net position of total derivative liabilities	267	220
Potential reduction in net position of total derivative assets	267	220
Other receivables
Derivative Financial Instruments
Right to reclaim cash collateral	46	140
Accounts Payable
Derivative Financial Instruments
Obligation to return cash collateral	$ 0	$ 8

Derivative Financial Instrume_4

Derivative Financial Instruments - Kyndryl-Related Transactions (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
	May 19, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Financial Instruments
Disposition of investment (in shares)	22.3
(Gains)/losses on derivative instruments		$ 141	$ 439	$ (1)	$ 541
Cash-Settled Swap
Derivative Financial Instruments
Notional amount	$ 311
(Gains)/losses on derivative instruments			$ 88		$ 88

Derivative Financial Instrume_5

Derivative Financial Instruments - Hedging Programs (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Net Investment Hedging
Derivative Financial Instruments
Notional amount	$ 4,900,000,000	$ 4,700,000,000
Average remaining maturity	2 months 12 days	1 month 6 days
Interest Rate Swap | Fair Value Hedging
Derivative Financial Instruments
Notional amount	$ 6,900,000,000	$ 6,500,000,000
Average remaining maturity	5 years 9 months 18 days	6 years
Interest Rate Swap | Cash Flow Hedging
Derivative Financial Instruments
Notional amount	$ 0	$ 0
Forward-starting interest rate swaps | Cash Flow Hedging
Derivative Financial Instruments
Number of derivative instruments outstanding	0	0
Net gains (losses) before taxes in accumulated other comprehensive income/(loss), cash flow hedges	$ (130,000,000)	$ (139,000,000)
Gains (losses) expected to be reclassified to net income within the next 12 months	(17,000,000)
Foreign exchange contracts | Not Designated as Hedging Instrument, Economic Hedge
Derivative Financial Instruments
Notional amount	$ 7,500,000,000	5,900,000,000
Foreign exchange contracts | Not Designated as Hedging Instrument, Economic Hedge | Maximum
Derivative Financial Instruments
Term of contract	1 year
Foreign exchange contracts | Net Investment Hedging
Derivative Financial Instruments
Notional amount	$ 15,700,000,000	13,400,000,000
Foreign Exchange Forward | Cash Flow Hedging
Derivative Financial Instruments
Notional amount	$ 8,600,000,000	$ 8,100,000,000
Average remaining maturity	7 months 6 days	7 months 6 days
Net gains (losses) before taxes in accumulated other comprehensive income/(loss), cash flow hedges	$ 63,000,000	$ 66,000,000
Gains (losses) expected to be reclassified to net income within the next 12 months	$ (3,000,000)
Maximum length of time hedged	2 years
Currency Swap | Cash Flow Hedging
Derivative Financial Instruments
Notional amount	$ 3,900,000,000	3,100,000,000
Net gains (losses) before taxes in accumulated other comprehensive income/(loss), cash flow hedges	(109,000,000)	(101,000,000)
Gains (losses) expected to be reclassified to net income within the next 12 months	$ 48,000,000
Maximum length of time hedged	8 years
Equity contracts hedging employee compensation obligations | Not Designated as Hedging Instrument, Economic Hedge
Derivative Financial Instruments
Notional amount	$ 1,200,000,000	$ 1,100,000,000

Derivative Financial Instrume_6

Derivative Financial Instruments - Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Short-term debt
Amounts recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges
Carrying amount of the hedged item	$ (203)	$ (199)
Cumulative hedging adjustments included in the carrying amount-assets/(liabilities)	(3)	1
Long-term debt
Amounts recorded in the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges
Carrying amount of the hedged item	(6,540)	(6,216)
Cumulative hedging adjustments included in the carrying amount-assets/(liabilities)	147	72
Hedging adjustments on discontinued hedging relationships	$ (225)	$ (250)

Derivative Financial Instrume_7

Derivative Financial Instruments - Effect of Hedge Activity on Income and Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss)
Cost	$ 6,974	$ 7,246	$ 13,717	$ 14,107
SG&A expense	4,900	4,855	9,754	9,452
Other (income) and expense	(261)	(81)	(506)	166
Interest expense	423	297	790	607
Cost of services
Derivative Instruments, Gain (Loss)
Cost	5,294	5,399	10,604	10,747
Gains/(losses) of total hedge activity	(3)	13	(5)	28
Cost of sales
Derivative Instruments, Gain (Loss)
Cost	1,587	1,750	2,910	3,165
Gains/(losses) of total hedge activity	2	23	17	35
Cost of financing
Derivative Instruments, Gain (Loss)
Cost	93	96	203	194
Gains/(losses) of total hedge activity	(3)	1	(7)	(1)
SG&A expense
Derivative Instruments, Gain (Loss)
SG&A expense	4,900	4,855	9,754	9,452
Gains/(losses) of total hedge activity	43	(152)	102	(223)
Other (income) and expense
Derivative Instruments, Gain (Loss)
Other (income) and expense	(261)	(81)	(506)	166
Gains/(losses) of total hedge activity	(141)	(439)	1	(541)
Interest expense
Derivative Instruments, Gain (Loss)
Interest expense	423	297	790	607
Gains/(losses) of total hedge activity	$ (18)	$ 3	$ (31)	$ (3)

Derivative Financial Instrume_8

Derivative Financial Instruments - Gains and Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in earnings on derivatives	$ (337)	$ (645)	$ (206)	$ (821)
Gain (loss) recognized in earnings attributable to risk being hedged	155	104	71	123
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Recognized in OCI	313	1,579	61	2,180
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	30	(16)	152	(16)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Amounts Excluded from Effectiveness Testing	32	6	60	9
Interest rate contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Recognized in OCI	0	0	0	0
Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Recognized in OCI	178	200	149	260
Foreign exchange contracts | Net Investment Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Recognized in OCI	$ 136	$ 1,379	$ (88)	$ 1,920
Foreign exchange contracts | Not Designated as Hedging Instrument, Economic Hedge
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other (income) and expense	Other (income) and expense	Other (income) and expense	Other (income) and expense
Gain (loss) recognized in earnings on derivatives	$ (196)	$ (313)	$ (180)	$ (409)
Equity contracts | Not Designated as Hedging Instrument, Economic Hedge
Derivative Instruments, Gain (Loss)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative	Selling, general and administrative	Selling, general and administrative	Selling, general and administrative
Cost of financing | Interest rate contracts | Fair Value Hedging
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in earnings on derivatives	$ (30)	$ (17)	$ (21)	$ (18)
Gain (loss) recognized in earnings attributable to risk being hedged	25	23	13	26
Cost of financing | Interest rate contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	(1)	(1)	(2)	(2)
Cost of financing | Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	(3)	(5)	(8)	(10)
Cost of financing | Foreign exchange contracts | Net Investment Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Amounts Excluded from Effectiveness Testing	5	1	11	2
Interest expense | Interest rate contracts | Fair Value Hedging
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in earnings on derivatives	(153)	(61)	(96)	(65)
Gain (loss) recognized in earnings attributable to risk being hedged	130	81	58	97
Interest expense | Interest rate contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	(4)	(3)	(7)	(7)
Interest expense | Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	(18)	(19)	(35)	(36)
Interest expense | Foreign exchange contracts | Net Investment Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Amounts Excluded from Effectiveness Testing	27	5	49	7
Cost of services | Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	(3)	13	(5)	28
Cost of sales | Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	2	23	17	35
SG&A expense | Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	1	14	10	20
SG&A expense | Equity contracts | Not Designated as Hedging Instrument, Economic Hedge
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in earnings on derivatives	42	(166)	91	(243)
Other (income) and expense | Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Earnings and Other Comprehensive Income - Reclassified from AOCI	55	(38)	181	(45)
Other (income) and expense | Equity contracts | Not Designated as Hedging Instrument, Economic Hedge
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in earnings on derivatives	$ 0	$ (88)	$ 0	$ (88)

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost	$ 288	$ 254	$ 556	$ 488
Income tax benefits	(75)	(82)	(142)	(139)
Net stock-based compensation cost	213	172	414	348
Pre-tax stock-based compensation cost increase (decrease)	34		69
Unrecognized compensation cost related to non-vested awards	1,600		$ 1,600
Unrecognized compensation cost related to non-vested awards, weighted average period of recognition			2 years 6 months
Restricted Stock Units (RSUs)
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost increase (decrease)	15		$ 17
Performance Shares
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost increase (decrease)	11		11
Stock option
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost increase (decrease)	7		21
Employee Stock
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost increase (decrease)			20
Cost
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost	47	43	93	84
SG&A expense
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost	168	153	317	289
Research, development and engineering
Stock-based compensation cost, allocation of recognized costs
Pre-tax stock-based compensation cost	$ 73	$ 58	$ 146	$ 115

Retirement-Related Benefits - A

Retirement-Related Benefits - All Retirement Plans Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Retirement Benefits [Abstract]
Defined benefit and contribution pension plans — cost	$ 259	$ 456	$ 541	$ 934
Nonpension postretirement plans — cost	33	33	65	66
Total	$ 292	$ 489	$ 606	$ 1,000
Year-to-year percent change, defined benefit and contribution pension plans cost (as a percent)	(43.20%)		(42.10%)
Year-to-year percent change, nonpension postretirement plans cost (as a percent)	(2.20%)		(1.90%)
Year-to-year percent change, total (as a percent)	(40.40%)		(39.40%)

Retirement-Related Benefits - C

Retirement-Related Benefits - Cost of Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cost/(Income) of Pension Plans
Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement	$ 259	$ 456	$ 541	$ 934
U.S. Plans | Pension Plan
Cost/(Income) of Pension Plans
Service cost	0	0	0	0
Interest cost	272	302	545	603
Expected return on plan assets	(382)	(475)	(764)	(950)
Amortization of prior service costs/(credits)	0	2	0	4
Recognized actuarial losses	27	179	55	359
Curtailments and settlements	0	0	0	0
Multi-employer plans	0	0	0	0
Other costs/(credits)	0	0	0	0
Total net periodic pension (income)/cost of defined benefit plans	(82)	8	(165)	15
Cost of defined contribution plans	151	141	323	282
Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement	69	149	158	298
U.S. Plans | Other Postretirement Benefits Plan
Cost/(Income) of Pension Plans
Service cost	1	1	2	2
Interest cost	29	18	58	37
Expected return on plan assets	0	0	0	0
Amortization of prior service costs/(credits)	(7)	1	(15)	2
Recognized actuarial losses	0	2	0	4
Curtailments and settlements	0	0	0	0
Total net periodic pension (income)/cost of defined benefit plans	23	23	46	46
Non-U.S. Plans | Pension Plan
Cost/(Income) of Pension Plans
Service cost	44	59	88	123
Interest cost	292	131	580	270
Expected return on plan assets	(362)	(259)	(718)	(532)
Amortization of prior service costs/(credits)	5	3	10	7
Recognized actuarial losses	101	260	203	537
Curtailments and settlements	6	11	5	19
Multi-employer plans	3	3	6	7
Other costs/(credits)	10	6	19	15
Total net periodic pension (income)/cost of defined benefit plans	99	215	194	446
Cost of defined contribution plans	91	92	188	190
Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement	190	307	382	636
Non-U.S. Plans | Other Postretirement Benefits Plan
Cost/(Income) of Pension Plans
Service cost	1	1	1	2
Interest cost	10	9	19	18
Expected return on plan assets	(1)	(1)	(1)	(1)
Amortization of prior service costs/(credits)	0	0	0	0
Recognized actuarial losses	0	1	(1)	2
Curtailments and settlements	0	0	0	0
Total net periodic pension (income)/cost of defined benefit plans	$ 10	$ 10	$ 19	$ 20

Retirement-Related Benefits -_2

Retirement-Related Benefits - Contributions (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Retirement-Related Benefits
Total plan contributions	$ 163	$ 245
U.S. nonpension postretirement benefit plans
Retirement-Related Benefits
Total plan contributions	134	202
Non-U.S. DB plans and multi-employer plans
Retirement-Related Benefits
Total plan contributions	29	43
Pension Plans, Including Multi-employer Plans
Retirement-Related Benefits
Contributions by employer - Noncash	347	261
Other Postretirement Benefits Plan | U.S. nonpension postretirement benefit plans
Retirement-Related Benefits
Contributions by employer - Noncash	$ 134	$ 182

Subsequent Events (Details)

Subsequent Events (Details)	Jul. 24, 2023 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Dividend declared (in dollars per share)	$ 1.66