International Business Machines (IBM) 8-K Regulation FD Disclosure

Exhibit 99.2

Attachment 1: Reclassified Consolidated Financial Statements (GAAP Basis)

INTERNATIONAL BUSINESS MACHINES CORPORATION

RECLASSIFIED CONSOLIDATED FINANCIAL STATEMENTS

	Three Months						Three Months						Three Months						Three Months					Twelve Months
	Ended March 31						Ended June 30						Ended September 30						Ended December 31					Ended December 31
(Dollars in millions except per share amounts)	2017			2016			2017			2016			2017			2016			2017		2016			2017			2016
Revenue	18,155			18,684			19,289			20,238			19,153			19,226			22,543		21,770			79,139			79,919
Gross Profit*	7,944			8,742			8,968			9,759			8,981			9,068			11,049		10,947			36,943			38,516
Expense and other (income):
Selling, general and administrative*	5,027			5,970			5,033			5,287			4,606			4,693			5,013		4,920			19,680			20,869
Research, development and engineering*	1,484			1,450			1,436			1,459			1,291			1,391			1,378		1,426			5,590			5,726
Intellectual property and custom development income	(445		)	(217		)	(365		)	(365		)	(308		)	(528		)	(348	)	(521		)	(1,466		)	(1,631		)
Total other (income) and expense*	319			358			273			162			159			92			374		(19		)	1,125			593
Other (income) and expense - retirement-related*	347			106			349			125			273			100			371		116			1,341			448
Other (income) and expense	(28		)	253			(76		)	37			(114		)	(8		)	2		(136		)	(216		)	145
Interest expense	135			147			147			167			168			158			164		157			615			630
Total expense and other (income)*	6,521			7,708			6,525			6,710			5,917			5,805			6,580		5,962			25,543			26,186
Income from continuing operations before income taxes	1,424			1,034			2,443			3,049			3,065			3,263			4,469		4,986			11,400			12,330
Provision for/(benefit from) income taxes	(329		)	(983		)	111			544			339			409			5,522		480			5,642			449
Income from continuing operations	1,753			2,016			2,332			2,505			2,726			2,854			(1,053	)	4,505			5,758			11,881
Earnings/(loss) per share of common stock:
Assuming dilution:
Continuing operations	$	1.85		$	2.09		$	2.48		$	2.61		$	2.92		$	2.98		-$      1.14		$	4.73		$	6.14		$	12.39

*Reclassified to reflect adoption of the FASB guidance on presentation of net periodic pension and nonpension postretirement benefit costs

Attachment 2: Reclassified Non-GAAP Supplementary Materials

INTERNATIONAL BUSINESS MACHINES CORPORATION
GAAP TO OPERATING BRIDGES

(UNAUDITED)

$ in millions, except for EPS numbers

For the twelve months ended December 31, 2017

	GAAP		ACQUISITION ADJUSTMENTS		RETIREMENT ADJUSTMENTS		TAX REFORM  ONE-TIME CHARGE		OPERATING
Gross Profit	36,943		449		—		—		37,392
Gross Profit Margin	46.7	%	0.6	Pts	—		—		47.2	%
SG&A	19,680		(509	)	—		—		19,170
RD&E	5,590		—		—		—		5,590
Other Income & Expense	1,125		(39	)	(1,341	)	—		(255	)
Total Expense & Other Income	25,543		(548	)	(1,341	)	—		23,654
Pre-Tax Income from Continuing Operations	11,400		997		1,341		—		13,738
PTI Margin from Continuing Operations	14.4	%	1.3	Pts	1.7	Pts	—		17.4	%
Tax	5,642		279		485		(5,475	)	931
Tax Rate	49.5	%	-1.6	Pts	-1.3	Pts	-39.9	Pts	6.8	%
Income from Continuing Operations	5,758		718		856		5,475		12,807
Income Margin from Continuing Operations	7.3	%	0.9	Pts	1.1	Pts	6.9	Pts	16.2	%
Diluted EPS from Continuing Operations	6.14		0.77		0.91		5.84		13.66

For the twelve months ended December 31, 2016

	GAAP		ACQUISITION  ADJUSTMENTS		RETIREMENT  ADJUSTMENTS		TAX REFORM  ONE-TIME CHARGE	OPERATING
Gross Profit	38,516		494		—		—	39,010
Gross Profit Margin	48.2	%	0.6	Pts	—		—	48.8	%
SG&A	20,869		(501	)	—		—	20,368
RD&E	5,726		—		—		—	5,726
Other Income & Expense	593		(7	)	(448	)	—	138
Total Expense & Other Income	26,186		(508	)	(448	)	—	25,230
Pre-Tax Income from Continuing Operations	12,330		1,003		448		—	13,780
PTI Margin from Continuing Operations	15.4	%	1.3	Pts	0.6	Pts	—	17.2	%
Tax	449		268		183		—	900
Tax Rate	3.6	%	1.7	Pts	1.2	Pts	—	6.5	%
Income from Continuing Operations	11,881		735		265		—	12,880
Income Margin from Continuing Operations	14.9	%	0.9	Pts	0.3	Pts	—	16.1	%
Diluted EPS from Continuing Operations	12.39		0.77		0.28		—	13.44

INTERNATIONAL BUSINESS MACHINES CORPORATION

QUARTERLY GAAP TO OPERATING BRIDGES

(UNAUDITED)

$ in millions, except for EPS numbers

For the three months ended March 31, 2017

			ACQUISITION		RETIREMENT
	GAAP		ADJUSTMENTS		ADJUSTMENTS		OPERATING
Gross Profit	7,944		119		—		8,063
Gross Profit Margin	43.8	%	0.7	Pts	—		44.4	%
SG&A	5,027		(139	)	—		4,887
RD&E	1,484		—		—		1,484
Other Income & Expense	319		(4	)	(347	)	(31	)
Total Expense & Other Income	6,521		(143	)	(347	)	6,031
Pre-Tax Income from Continuing Operations	1,424		262		347		2,033
PTI Margin from Continuing Operations	7.8	%	1.4	Pts	1.9	Pts	11.2	%
Tax	(329	)	67		70		(192	)
Tax Rate	-23.1	%	6.3	Pts	7.4	Pts	-9.4	%
Income from Continuing Operations	1,753		195		277		2,224
Income Margin from Continuing Operations	9.7	%	1.1	Pts	1.5	Pts	12.3	%
Diluted EPS from Continuing Operations	1.85		0.21		0.29		2.35

For the three months ended June 30, 2017

			ACQUISITION		RETIREMENT
	GAAP		ADJUSTMENTS		ADJUSTMENTS		OPERATING
Gross Profit	8,968		117		—		9,085
Gross Profit Margin	46.5	%	0.6	Pts	—		47.1	%
SG&A	5,033		(129	)	—		4,904
RD&E	1,436		—		—		1,436
Other Income & Expense	273		(4	)	(349	)	(80	)
Total Expense & Other Income	6,525		(133	)	(349	)	6,043
Pre-Tax Income from Continuing Operations	2,443		250		349		3,042
PTI Margin from Continuing Operations	12.7	%	1.3	Pts	1.8	Pts	15.8	%
Tax	111		66		105		282
Tax Rate	4.5	%	1.8	Pts	2.9	Pts	9.3	%
Income from Continuing Operations	2,332		183		244		2,760
Income Margin from Continuing Operations	12.1	%	1.0	Pts	1.3	Pts	14.3	%
Diluted EPS from Continuing Operations	2.48		0.20		0.26		2.94

For the three months ended September 30, 2017

			ACQUISITION		RETIREMENT
	GAAP		ADJUSTMENTS		ADJUSTMENTS		OPERATING
Gross Profit	8,981		114		—		9,095
Gross Profit Margin	46.9	%	0.6	Pts	—		47.5	%
SG&A	4,606		(125	)	—		4,482
RD&E	1,291		—		—		1,291
Other Income & Expense	159		0		(273	)	(114	)
Total Expense & Other Income	5,917		(125	)	(273	)	5,519
Pre-Tax Income from Continuing Operations	3,065		238		273		3,576
PTI Margin from Continuing Operations	16.0	%	1.2	Pts	1.4	Pts	18.7	%
Tax	339		79		113		531
Tax Rate	11.0	%	1.5	Pts	2.3	Pts	14.8	%
Income from Continuing Operations	2,726		159		160		3,045
Income Margin from Continuing Operations	14.2	%	0.8	Pts	0.8	Pts	15.9	%
Diluted EPS from Continuing Operations	2.92		0.17		0.17		3.26

For the three months ended December 31, 2017

			ACQUISITION		RETIREMENT		TAX REFORM
	GAAP		ADJUSTMENTS		ADJUSTMENTS		ONE-TIME CHARGE		OPERATING
Gross Profit	11,049		99		—		—		11,149
Gross Profit Margin	49.0	%	0.4	Pts	—		—		49.5	%
SG&A	5,013		(116	)	—		—		4,897
RD&E	1,378		—		—		—		1,378
Other Income & Expense	374		(32	)	(371	)	—		(30	)
Total Expense & Other Income	6,580		(148	)	(371	)	—		6,061
Pre-Tax Income from Continuing Operations	4,469		247		371		—		5,087
PTI Margin from Continuing Operations	19.8	%	1.1	Pts	1.6	Pts	—		22.6	%
Tax	5,522		67		197		(5,475	)	310
Tax Rate	123.6	%	-4.7	Pts	-5.1	Pts	-107.6	Pts	6.1	%
Income from Continuing Operations	(1,053	)	181		174		5,475		4,777
Income Margin from Continuing Operations	-4.7	%	0.8	Pts	0.8	Pts	24.3	Pts	21.2	%
Diluted EPS from Continuing Operations	-1.14		0.19		0.19		5.90		5.14

INTERNATIONAL BUSINESS MACHINES CORPORATION
QUARTERLY GAAP TO OPERATING BRIDGES

(UNAUDITED)

$ in millions, except for EPS numbers

For the three months ended March 31, 2016

			ACQUISITION		RETIREMENT
	GAAP		ADJUSTMENTS		ADJUSTMENTS		OPERATING
Gross Profit	8,742		112		—		8,854
Gross Profit Margin	46.8	%	0.6	Pts	—		47.4	%
SG&A	5,970		(67	)	—		5,903
RD&E	1,450		—		—		1,450
Other Income & Expense	358		(6	)	(106	)	247
Total Expense & Other Income	7,708		(73	)	(106	)	7,530
Pre-Tax Income from Continuing Operations	1,034		185		106		1,324
PTI Margin from Continuing Operations	5.5	%	1.0	Pts	0.6	Pts	7.1	%
Tax	(983	)	47		27		(909	)
Tax Rate	-95.1	%	16.8	Pts	9.6	Pts	-68.7	%
Income from Continuing Operations	2,016		138		79		2,233
Income Margin from Continuing Operations	10.8	%	0.7	Pts	0.4	Pts	12.0	%
Diluted EPS from Continuing Operations	2.09		0.14		0.09		2.32

For the three months ended June 30, 2016

			ACQUISITION		RETIREMENT
	GAAP		ADJUSTMENTS		ADJUSTMENTS		OPERATING
Gross Profit	9,759		129		—		9,888
Gross Profit Margin	48.2	%	0.6	Pts	—		48.9	%
SG&A	5,287		(159	)	—		5,127
RD&E	1,459		—		—		1,459
Other Income & Expense	162		0		(125	)	37
Total Expense & Other Income	6,710		(159	)	(125	)	6,426
Pre-Tax Income from Continuing Operations	3,049		289		125		3,463
PTI Margin from Continuing Operations	15.1	%	1.4	Pts	0.6	Pts	17.1	%
Tax	544		82		39		665
Tax Rate	17.8	%	0.9	Pts	0.5	Pts	19.2	%
Income from Continuing Operations	2,505		207		86		2,798
Income Margin from Continuing Operations	12.4	%	1.0	Pts	0.4	Pts	13.8	%
Diluted EPS from Continuing Operations	2.61		0.21		0.09		2.91

For the three months ended September 30, 2016

			ACQUISITION		RETIREMENT
	GAAP		ADJUSTMENTS		ADJUSTMENTS		OPERATING
Gross Profit	9,068		129		—		9,197
Gross Profit Margin	47.2	%	0.7	Pts	—		47.8	%
SG&A	4,693		(138	)	—		4,554
RD&E	1,391		—		—		1,391
Other Income & Expense	92		(2	)	(100	)	(10	)
Total Expense & Other Income	5,805		(140	)	(100	)	5,565
Pre-Tax Income from Continuing Operations	3,263		269		100		3,632
PTI Margin from Continuing Operations	17.0	%	1.4	Pts	0.5	Pts	18.9	%
Tax	409		73		40		521
Tax Rate	12.5	%	1.1	Pts	0.8	Pts	14.3	%
Income from Continuing Operations	2,854		197		60		3,111
Income Margin from Continuing Operations	14.8	%	1.0	Pts	0.3	Pts	16.2	%
Diluted EPS from Continuing Operations	2.98		0.21		0.06		3.25

For the three months ended December 31, 2016

			ACQUISITION		RETIREMENT
	GAAP		ADJUSTMENTS		ADJUSTMENTS		OPERATING
Gross Profit	10,947		124		—		11,071
Gross Profit Margin	50.3	%	0.6	Pts	—		50.9	%
SG&A	4,920		(136	)	—		4,784
RD&E	1,426		—		—		1,426
Other Income & Expense	(19	)	0		(116	)	(136	)
Total Expense & Other Income	5,962		(136	)	(116	)	5,709
Pre-Tax Income from Continuing Operations	4,986		260		116		5,362
PTI Margin from Continuing Operations	22.9	%	1.2	Pts	0.5	Pts	24.6	%
Tax	480		66		77		623
Tax Rate	9.6	%	0.8	Pts	1.2	Pts	11.6	%
Income from Continuing Operations	4,505		193		40		4,738
Income Margin from Continuing Operations	20.7	%	0.9	Pts	0.2	Pts	21.8	%
Diluted EPS from Continuing Operations	4.73		0.20		0.04		4.97

Attachment 3: Reclassified Management System Segment View

International Business Machines Corporation

Management System Segment View

					TECHNOLOGY
	COGNITIVE		GLOBAL BUSINESS		SERVICES AND
	SOLUTIONS		SERVICES		CLOUD PLATFORMS		SYSTEMS		GLOBAL FINANCING		TOTAL SEGMENTS
($M)
1Q16
TOTAL REVENUE	4,647		4,245		8,589		1,888		896		20,264
EXTERNAL REVENUE	3,979		4,131		8,424		1,675		410		18,619
INTERNAL REVENUE	668		113		165		212		486		1,645
SEGMENT PTI*	1,007		178		243		-12		386		1,801
PTI MARGIN*	22	%	4	%	3	%	-1	%	43	%	9	%
2Q16
TOTAL REVENUE	5,269		4,359		9,013		2,156		926		21,723
EXTERNAL REVENUE	4,675		4,255		8,857		1,950		424		20,162
INTERNAL REVENUE	594		103		156		206		502		1,561
SEGMENT PTI*	1,444		463		1,263		227		467		3,863
PTI MARGIN*	27	%	11	%	14	%	11	%	50	%	18	%
3Q16
TOTAL REVENUE	4,902		4,284		8,929		1,734		763		20,613
EXTERNAL REVENUE	4,235		4,191		8,748		1,558		412		19,145
INTERNAL REVENUE	667		93		180		176		352		1,468
SEGMENT PTI*	1,567		532		1,272		134		354		3,858
PTI MARGIN*	32	%	12	%	14	%	8	%	46	%	19	%
4Q16
TOTAL REVENUE	5,999		4,221		9,522		2,686		909		23,337
EXTERNAL REVENUE	5,297		4,121		9,308		2,530		447		21,704
INTERNAL REVENUE	701		100		214		156		462		1,633
SEGMENT PTI*	2,306		510		1,866		577		448		5,707
PTI MARGIN*	38	%	12	%	20	%	21	%	49	%	24	%
2016
TOTAL REVENUE	20,817		17,109		36,052		8,464		3,494		85,936
EXTERNAL REVENUE	18,187		16,700		35,337		7,714		1,692		79,630
INTERNAL REVENUE	2,630		409		715		750		1,802		6,307
SEGMENT PTI*	6,325		1,683		4,643		925		1,654		15,230
PTI MARGIN*	30	%	10	%	13	%	11	%	47	%	18	%

*Reclassified to reflect adoption of the FASB guidance on presentation of net periodic pension and nonpension postretirement benefit costs

International Business Machines Corporation

Management System Segment View

					TECHNOLOGY
	COGNITIVE		GLOBAL BUSINESS		SERVICES AND
	SOLUTIONS		SERVICES		CLOUD PLATFORMS		SYSTEMS		GLOBAL FINANCING		TOTAL SEGMENTS
($M)
1Q17
TOTAL REVENUE	4,778		4,092		8,376		1,562		768		19,576
EXTERNAL REVENUE	4,062		4,006		8,216		1,395		405		18,083
INTERNAL REVENUE	716		86		160		167		363		1,492
SEGMENT PTI*	1,268		281		673		-188		311		2,346
PTI MARGIN*	27	%	7	%	8	%	-12	%	40	%	12	%
2Q17
TOTAL REVENUE	5,214		4,190		8,579		1,924		705		20,612
EXTERNAL REVENUE	4,559		4,097		8,406		1,747		415		19,224
INTERNAL REVENUE	655		93		173		177		290		1,388
SEGMENT PTI*	1,610		312		994		73		282		3,270
PTI MARGIN*	31	%	7	%	12	%	4	%	40	%	16	%
3Q17
TOTAL REVENUE	5,030		4,185		8,621		1,948		698		20,482
EXTERNAL REVENUE	4,400		4,093		8,457		1,721		427		19,097
INTERNAL REVENUE	629		92		164		227		272		1,384
SEGMENT PTI*	1,643		442		1,177		337		243		3,843
PTI MARGIN*	33	%	11	%	14	%	17	%	35	%	19	%
4Q17
TOTAL REVENUE	6,078		4,244		9,358		3,511		997		24,188
EXTERNAL REVENUE	5,432		4,152		9,198		3,332		450		22,563
INTERNAL REVENUE	646		92		160		179		546		1,624
SEGMENT PTI*	2,273		327		1,441		906		443		5,390
PTI MARGIN*	37	%	8	%	15	%	26	%	44	%	22	%
2017
TOTAL REVENUE	21,100		16,711		34,934		8,945		3,168		84,857
EXTERNAL REVENUE	18,453		16,348		34,277		8,194		1,696		78,968
INTERNAL REVENUE	2,647		363		657		750		1,471		5,889
SEGMENT PTI*	6,795		1,362		4,286		1,128		1,278		14,849
PTI MARGIN*	32	%	8	%	12	%	13	%	40	%	17	%

*Reclassified  to reflect adoption of the FASB guidance on presentation of net periodic pension and nonpension postretirement benefit costs

Attachment 3A: Additional Revenue and Gross Profit Information

International Business Machines Corporation

COGNITIVE SOLUTIONS SEGMENT	1Q’16		2Q’16		3Q’16		4Q’16		FY’16		1Q’17		2Q’17		3Q’17		4Q’17		FY’17
Total External Revenue	3,979		4,675		4,235		5,297		18,187		4,062		4,559		4,400		5,432		18,453
Gross Profit $ (External)*	3,260		3,839		3,405		4,379		14,883		3,138		3,600		3,463		4,301		14,503
Gross Margin % (External)*	81.9	%	82.1	%	80.4	%	82.7	%	81.8	%	77.3	%	79.0	%	78.7	%	79.2	%	78.6	%

GLOBAL BUSINESS SERVICES SEGMENT	1Q’16		2Q’16		3Q’16		4Q’16		FY’16		1Q’17		2Q’17		3Q’17		4Q’17		FY’17
Total External Revenue	4,131		4,255		4,191		4,121		16,700		4,006		4,097		4,093		4,152		16,348
Gross Profit $ (External)*	1,057		1,109		1,195		1,097		4,457		938		1,011		1,108		1,021		4,077
Gross Margin % (External)*	25.6	%	26.1	%	28.5	%	26.6	%	26.7	%	23.4	%	24.7	%	27.1	%	24.6	%	24.9	%

TECHNOLOGY SERVICES AND CLOUD PLATFORMS	1Q’16		2Q’16		3Q’16		4Q’16		FY’16		1Q’17		2Q’17		3Q’17		4Q’17		FY’17
Total External Revenue	8,424		8,857		8,748		9,308		35,337		8,216		8,406		8,457		9,198		34,277
Gross Profit $ (External)*	3,437		3,672		3,665		3,983		14,757		3,188		3,400		3,462		3,752		13,802
Gross Margin % (External)*	40.8	%	41.5	%	41.9	%	42.8	%	41.8	%	38.8	%	40.4	%	40.9	%	40.8	%	40.3	%

SYSTEMS SEGMENT	1Q’16		2Q’16		3Q’16		4Q’16		FY’16		1Q’17		2Q’17		3Q’17		4Q’17		FY’17
Total External Revenue	1,675		1,950		1,558		2,530		7,714		1,395		1,747		1,721		3,332		8,194
Gross Profit $ (External)*	959		1,102		796		1,439		4,296		662		920		923		1,857		4,362
Gross Margin % (External)*	57.2	%	56.5	%	51.1	%	56.9	%	55.7	%	47.5	%	52.7	%	53.6	%	55.7	%	53.2	%

GLOBAL FINANCING SEGMENT	1Q’16		2Q’16		3Q’16		4Q’16		FY’16		1Q’17		2Q’17		3Q’17		4Q’17		FY’17
Total External Revenue	410		424		412		447		1,692		405		415		427		450		1,696
Gross Profit $ (External)*	174		164		156		162		655		129		128		108		133		497
Gross Margin % (External)*	42.4	%	38.7	%	37.8	%	36.2	%	38.7	%	31.8	%	30.8	%	25.2	%	29.5	%	29.3	%

TOTAL SEGMENTS	1Q’16		2Q’16		3Q’16		4Q’16		FY’16		1Q’17		2Q’17		3Q’17		4Q’17		FY’17
Total External Revenue	18,619		20,162		19,145		21,704		79,630		18,083		19,224		19,097		22,563		78,968
Gross Profit $ (External)*	8,887		9,886		9,216		11,060		39,050		8,055		9,059		9,064		11,064		37,241
Gross Margin % (External)*	47.7	%	49.0	%	48.1	%	51.0	%	49.0	%	44.5	%	47.1	%	47.5	%	49.0	%	47.2	%

*Reclassified to reflect adoption of the FASB guidance on presentation of net periodic pension and nonpension postretirement benefit costs