Item 2.02. Results of Operations and Financial Condition.
On October 4, 2021, IBM announced that it is updating its reporting segments, and on November 3, 2021, IBM completed the separation of Kyndryl Holdings, Inc. Exhibit 7 of Exhibit 99.1 to this Form 8-K contains information that the Company has posted to its Investor Relations website (www.ibm.com/investor/) including recast historical financial data as adjusted for discontinued operations as well as recast segment data under the new segment structure. Reconciliations of non-GAAP financial measures included in exhibits 7c and 7d of Exhibit 99.1 to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in Exhibit 99.2 to this Form 8-K.
The information in this Item 2.02, including exhibit 7 of Exhibit 99.1 and Exhibit 99.2, is being furnished with the Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.
Item 7.01. Regulation FD Disclosure.
Exhibit 99.1 to this Form 8-K contains information on IBM’s historical financials which reflect the separation of Kyndryl Holdings, Inc. as well as changes to IBM’s management structure and segment reporting that the company has posted on its Investor Relations website (www.ibm.com/investor/).
In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (“GAAP”), the company has disclosed in the attached investor relations article certain non-GAAP information, which management believes provides useful information to investors. The rationale for management’s use of non-GAAP measures and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in Exhibit 99.2 to this Form 8-K.
The information in this Item 7.01, including Exhibits 99.1 and 99.2, is being furnished with the Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are being furnished as part of this report:
The following exhibit is being filed as part of this report:
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Exhibit No. | | Description of Exhibit |
104 | | Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.
