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International Business Machines Corp

Technology > Application Software

Last	Change	Change %	Volume	Last-Trade Time	Open	High	Low
166.96	1.33	0.8	4,906,193	May 31, 2024 19:59:44 EST	165.7	166.97	163.84

International Business Machines Corp was incorporated in the State of New York on June 16, 1911. The company creates business value for clients and solves business problems through integrated solutions that leverage information technology and knowledge of business processes. Its solutions create value by reducing a client's operational costs or by enabling new capabilities that generate revenue. These solutions draw from an industry portfolio of consulting, delivery and implementation services, enterprise software, systems and financing. The company's operations consist of five business segments namely Global Technology Services and Global Business Services, which the company collectively calls Global Services, and Software, Systems and Technology and Global Financing. Global Services is a component of the company's strategy of providing IT infrastructure and business insight and solutions to clients. While solutions include industry’s IBM software and systems, other suppliers' products are also used if a client solution requires it. Within Global Services, there are two reportable segments namely Global Technology Services and Global Business Services. Global Technology Services (GTS) provides IT infrastructure and business process services, creating business value for clients through technology and IP, Global Business Services (GBS) delivers predictable business outcomes to the company's clients across two primary business areas namely Consulting and Application Management Services. The role of GBS is to drive initiatives that integrate IBM content and solutions and drive the progress of the company's four growth initiatives. Software consists mainly of middleware and operating systems software. Middleware software enables clients to integrate systems, processes and applications across a standard software platform to improve their business results, solve critical problems and gain competitive advantage within their industries. IBM middleware is designed on open standards, making it easier to integrate disparate business applications, developed by different methods and implemented at different times. Operating systems are the software engines that run computers. Systems and Technology (STG) provides clients with business solutions requiring advanced computing power and storage capabilities. Approximately half of Systems and Technology's server and storage sales transactions are through the company's business partners; with the balance direct to end-user clients. In addition, Systems and Technology provides semiconductor technology, products and packaging solutions for IBM's own advanced technology needs and for external clients. Global Financing facilitates clients' acquisition of IBM systems, software and services. Global Financing invests in financing assets, leverages with debt and manages the associated risks with the objective of generating consistently strong returns on equity. The Company has global presence, operating in more than 170 countries. The Company’s competitors include Cisco Systems, Inc. (Cisco), Dell, Inc., EMC Corporation, HP and Oracle. The company is subject to various federal, state, local and foreign laws and regulations concerning the discharge of materials into the environment or otherwise related to environmental protection, including the U.S. Superfund law.

Key Statistics
Market Cap	189.74 Bil
Enterprise Value	218.39 Bil
Forward P/E Ratio	12.55
PEG Ratio	5.47
Price/Sales (ttm)	2.07
Price/Book (ttm)	8.68
Currency	USD
Share Outstanding	1.04 Bil

Financial Highlights
Fiscal Year Ends	Dec
Most Recent Quarter (MRQ)	2013-12-31
Profitability
Profit Margin (ttm)	15.62 %
Operating Margin (ttm)	18.82 %
Management Effectiveness
Return on Assets (ttm)	13.43 %
Return on Equity (ttm)	79.15 %
Income Statement
Revenue (ttm)	99.75 Bil
Dividend Yield	0.0197
Gross Profit (ttm)	48.51 Bil
Gross Margin (ttm)	48.63 %
EBITDA (ttm)	24.60 Bil
Diluted EPS (ttm)	1,494.00 %
Short Interest
Settlement Date	2014-02-28
Average Daily Volume	4.67 Mil
Short Interest	29.29 Mil
Short Interest Percentage Changed	8.98
Days To Cover	6.27
Days To Cover Percentage Changed	34.77
Valuation Ratio
Valuation Ratio As of Date	2013-12-31
Sale Per Share	90.43
Growth Annual Per Share 5 Year	0.0381
Book Value Per Share	21.62
CF Per Share	15.85
FCE Per Share	12.10
Price To EPS	12.55
Ratio PE 5 Year High	14.45
Ratio PE 5 Year Low	5.47
Price To Book	8.68
Price To Sales	2.07
Price To Cash Flow	11.83
Price To Free Cash Flow	15.50
Dividend Rate	3.80
Dividend Yield	0.0197
Dividend Payout Total Operation	0.2457
Payout Ratio	0.2476
Sustainable Growth Rate	0.5955
Cash Return:	0.0589

Company Information
Company Name	International Business Machines Corp
Ticker symbol	NYSE:IBM
International Business Machines Corp is an Information Technology (IT) company. It creates business value for clients and solves business problems through integrated solutions that leverage information technology & knowledge of business processes.
Web Address	http://www.ibm.com
Contact Information	One New Orchard Road Armonk, NY 10504 USA
Numbers of Employees	431,212

Officers and Directors Information
Independent Director	James Owens	AGE	68
Senior Vice President, Marketing and Communications	Jon Iwata	AGE	51
Independent Director	Joan Spero	AGE	69
Senior Vice President, Enterprise Transformation	Linda Sanford	AGE	61
Independent Director	Michael Eskew	AGE	64
Independent Director	Sidney Taurel	AGE	65
Senior Vice President, Legal and Regulatory Affairs and General Counsel	Robert Weber	AGE	63
Senior Vice President and Group Executive, Software and Systems	Steven Mills	AGE	62
Independent Director	Shirley Jackson	AGE	67
Senior Vice President, GTS Solutions	Timothy Shaughnessy	AGE	56
Independent Director	William Brody	AGE	70
Chairman of the Board, President and Chief Executive Officer	Virginia Rometty	AGE	57
Senior Vice President and Director, Research	John Kelly	AGE	60
Director	Kenneth Chenault	AGE	62
Independent Director	Lorenzo Zambrano	AGE	69
Independent Director	Alain Belda	AGE	70
Independent Director	David Farr	AGE	59
Vice President and Controller	James Kavanaugh	AGE	47
Independent Director	W McNerney	AGE	64
Independent Director	Andrew Liveris	AGE	59
Senior Vice President, Sales and Distribution	Colleen Arnold	AGE	56
Senior Vice President, Corporate Strategy	Rodney Adkins	AGE	55
Senior Vice President, Software and Cloud Solutions Group	Robert Leblanc	AGE	55
Senior Vice President, IBM Watson Group	Michael Rhodin	AGE	53
Senior Vice President, Global Technology Services	Erich Clementi	AGE	55
Senior Vice President, Global Business Services	Bridget van Kralingen	AGE	50
Senior Vice President, Growth Markets	James Bramante	AGE	54
Senior Vice President, Sales and Distribution	Bruno Di Leo Allen	AGE	56
Vice President, Assistant General Counsel and Secretary	Michelle Browdy	AGE
Senior Vice President, Systems and Technology Group and IBM Integrated Supply Chain	Thomas Rosamilia	AGE	53
Senior Vice President, Human Resources	Diane Gherson	AGE	56
Senior Vice President and Chief Financial Officer, Finance and Enterprise Transformation	Martin Schroeter	AGE	49
Senior Vice President, Information and Analytics Group	Robert Picciano	AGE	49

Income Statement PageFull History
Period Ending	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Total Revenue	99.75 Bil	104.51 Bil	106.92 Bil	99.87 Bil
Cost Revenue	51.25 Bil	54.21 Bil	56.78 Bil	53.86 Bil
Gross Profit	48.51 Bil	50.30 Bil	50.14 Bil	46.01 Bil
Operational Cost
Selling General and Administrative	22.98 Bil	23.55 Bil	23.22 Bil	21.55 Bil
Research and Development	6.23 Bil	6.30 Bil	6.26 Bil	6.03 Bil
Depreciation and Amortization	370.00 Mil	N/A	289.00 Mil	253.00 Mil
Other Operating Expenses	N/A	N/A	N/A	N/A
Total Operating Expenses	80.97 Bil	84.06 Bil	86.63 Bil	81.72 Bil
Income From Continuing Operations
Income Before Tax	19.52 Bil	21.90 Bil	21.00 Bil	19.72 Bil
Income Tax Expenses	3.04 Bil	5.30 Bil	5.15 Bil	4.89 Bil
Minority Interest	N/A	N/A	N/A	N/A
Net Income From Continuing Operation	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Extraordinary Items	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Net Income	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Net Income to Common Stockholders	N/A	N/A	N/A	N/A
Diluted EPS	14.94	14.37	13.06	11.52
Diluted Average Shares	1.10 Bil	1.16 Bil	1.21 Bil	1.29 Bil
Normalized Basic EPS	14.23	14.31	12.62	11.69
Normalized Diluted EPS	14.12	14.15	12.45	11.52
Other Income Statement Information
Net Non Operating Interest Income Expense	-328.00 Mil	-350.00 Mil	-275.00 Mil	-276.00 Mil
Net Interest Income	-328.00 Mil	-350.00 Mil	-275.00 Mil	-276.00 Mil
Non Net Interest Income	74.00 Mil	109.00 Mil	136.00 Mil	92.00 Mil
Operating Expense	29.73 Bil	29.86 Bil	29.85 Bil	27.86 Bil
Operating Income	18.78 Bil	20.44 Bil	20.29 Bil	18.15 Bil
Operating Revenue	99.75 Bil	104.51 Bil	106.92 Bil	99.87 Bil
Other Income Expense	1.08 Bil	340.00 Mil	992.00 Mil	1.85 Bil
Reconciled Cost Of Revenue	46.94 Bil	54.21 Bil	52.25 Bil	49.28 Bil
Reconciled Depreciation	4.68 Bil	4.68 Bil	4.82 Bil	4.83 Bil
Normalized Income	15.58 Bil	16.35 Bil	15.11 Bil	14.83 Bil
Non Operating Income	1.08 Bil	340.00 Mil	992.00 Mil	1.85 Bil
Non Operating Expenses	-328.00 Mil	-350.00 Mil	-275.00 Mil	-276.00 Mil
EBITDA	24.60 Bil	27.04 Bil	26.23 Bil	24.92 Bil
Net Income From Continuing Operation Net Minority Interest	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Continuing And Discontinued Basic EPS	15.06	14.53	13.25	11.69
Continuing And Discontinued Diluted EPS	14.94	14.37	13.06	11.52
Basic EPS	15.06	14.53	13.25	11.69
Diluted Continuous Operations	14.94	14.37	13.06	11.52
Dividend Per Share	3.70	3.30	2.90	2.50
Amortization	370.00 Mil	N/A	289.00 Mil	253.00 Mil
Depreciation Amortization Depletion	370.00 Mil	N/A	289.00 Mil	253.00 Mil
Gain On Sale Of Security	29.00 Mil	-55.00 Mil	227.00 Mil	N/A
General And Administrative Expense	2.49 Bil	N/A	1.56 Bil	1.62 Bil
Interest Expense	402.00 Mil	459.00 Mil	411.00 Mil	368.00 Mil
Interest Expense Non Operating	402.00 Mil	459.00 Mil	411.00 Mil	368.00 Mil
Interest Income Non Operating	74.00 Mil	109.00 Mil	136.00 Mil	92.00 Mil
Misc Other Special Charges	-1.05 Bil	-395.00 Mil	-765.00 Mil	N/A
Promotion And Advertising	1.29 Bil	N/A	1.37 Bil	1.34 Bil
Provision For Doubtful Accounts	156.00 Mil	N/A	88.00 Mil	40.00 Mil
Salaries And Wages	1.43 Bil	N/A	1.12 Bil	1.62 Bil
Selling And Marketing Expense	1.29 Bil	N/A	1.37 Bil	1.34 Bil
Amortization Of Intangibles	370.00 Mil	N/A	289.00 Mil	253.00 Mil
Net Income From Continuing And Discontinued Operation	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Earning Before Interest And Tax	19.93 Bil	22.36 Bil	21.41 Bil	20.09 Bil
EBITDA	24.60 Bil	27.04 Bil	26.23 Bil	24.92 Bil
Basic Continuous Operations	15.06	14.53	13.25	11.69
Basic Average Shares	1.09 Bil	1.14 Bil	1.20 Bil	1.27 Bil
Net Income Including Noncontrolling Interests	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Total Unusual Items	1.07 Bil	340.00 Mil	992.00 Mil	N/A
Total Unusual Items Excluding Goodwill	1.07 Bil	340.00 Mil	992.00 Mil	N/A
Tax Rate For Calcs	0.1558	0.2419	0.2451	0.2479
Calculated Tax Effect Of Unusual Items	167.28 Mil	82.23 Mil	243.15 Mil	N/A
Form Type	10-K	10-K	10-K	10-K

Balance Sheet PageFull History
Period Ending	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Asset
Current Asset
Cash and Cash Equivalents	10.72 Bil	10.41 Bil	11.92 Bil	10.66 Bil
Short term Investments	350.00 Mil	717.00 Mil	N/A	990.00 Mil
Accounts Receivable	1.58 Bil	12.54 Bil	12.66 Bil	11.97 Bil
Other Receivable	19.79 Bil	N/A	N/A	N/A
Total Receivable	31.84 Bil	30.58 Bil	29.56 Bil	28.23 Bil
Inventory	2.31 Bil	2.29 Bil	2.60 Bil	2.45 Bil
Other Current Assets	-1,000,000.00	N/A	N/A	N/A
Total Current Assets	51.35 Bil	49.43 Bil	50.93 Bil	48.12 Bil
Long Term Investments	N/A	N/A	N/A	N/A
Property Plant and Equipment	13.82 Bil	14.00 Bil	13.88 Bil	14.10 Bil
Goodwill	31.18 Bil	29.25 Bil	26.21 Bil	25.14 Bil
Other Intangible Assets	3.87 Bil	N/A	3.39 Bil	N/A
Accumulated Depreciation	-26.65 Bil	-26.51 Bil	-26.24 Bil	-26.19 Bil
Other Assests	N/A	N/A	N/A	N/A
Total Assets	126.22 Bil	119.21 Bil	116.43 Bil	113.45 Bil
Liabilites
Current Liabilites
Accounts Payable	7.46 Bil	7.95 Bil	8.52 Bil	7.80 Bil
Accrued Expenses	607.00 Mil	N/A	N/A	N/A
Other Current Liabilities	N/A	N/A	N/A	N/A
Total Current Liabilities	40.15 Bil	43.63 Bil	42.12 Bil	40.56 Bil
Total Long Term Debt	32.86 Bil	24.09 Bil	22.86 Bil	21.85 Bil
Capital Lease Obligations	N/A	N/A	N/A	N/A
Minority Interest	137.00 Mil	124.00 Mil	97.00 Mil	126.00 Mil
Other Non-Current Liabilities	63.28 Bil	56.73 Bil	54.17 Bil	49.84 Bil
Total Liabilities	103.43 Bil	100.35 Bil	96.30 Bil	90.41 Bil
Stockholders' Equity
Redeemable Preferred Stock	N/A	N/A	N/A	N/A
Preferred Stock	N/A	N/A	N/A	N/A
Common Stock	51.59 Bil	50.11 Bil	48.13 Bil	45.42 Bil
Retained Earnings	130.04 Bil	117.64 Bil	104.86 Bil	92.53 Bil
Treasury Stock	137.24 Bil	123.13 Bil	110.96 Bil	96.16 Bil
Additional Paid-In Capital	N/A	N/A	N/A	N/A
Other Stockholder Equity	N/A	N/A	N/A	N/A
Total Stockholder Equity	22.79 Bil	18.86 Bil	20.14 Bil	23.05 Bil
Net Tangible Assets	-8.39 Bil	-10.39 Bil	-6.08 Bil	-2.09 Bil
Other Balance Sheet Information
Current Accrued Expenses	8.64 Bil	9.59 Bil	9.63 Bil	10.18 Bil
Gains Losses Not Affecting Retained Earnings	-21.60 Bil	-25.76 Bil	-21.89 Bil	-18.74 Bil
Capital Stock	51.59 Bil	50.11 Bil	48.13 Bil	45.42 Bil
Common Stock Equity	22.79 Bil	18.86 Bil	20.14 Bil	23.05 Bil
Non Current Deferred Liabilities	5.85 Bil	4.49 Bil	3.85 Bil	3.67 Bil
Current Deferred Liabilities	12.56 Bil	11.95 Bil	12.20 Bil	11.58 Bil
Current Deferred Revenue	12.56 Bil	11.95 Bil	12.20 Bil	11.58 Bil
Non Current Deferred Revenue	4.11 Bil	4.49 Bil	3.85 Bil	3.67 Bil
Current Deferred Taxes Assets	1.65 Bil	1.42 Bil	1.60 Bil	1.56 Bil
Non Current Deferred Taxes Assets	3.05 Bil	3.97 Bil	3.50 Bil	3.22 Bil
Goodwill And Other Intangible Assets	35.06 Bil	33.03 Bil	29.61 Bil	28.62 Bil
Gross PPE	40.48 Bil	40.50 Bil	40.12 Bil	40.29 Bil
Land And Improvements	706.00 Mil	747.00 Mil	786.00 Mil	777.00 Mil
Leases	1.92 Bil	2.41 Bil	2.96 Bil	3.42 Bil
Machinery Furniture Equipment	28.17 Bil	27.73 Bil	26.84 Bil	26.68 Bil
Other Non Current Assets	12.76 Bil	12.81 Bil	10.78 Bil	10.55 Bil
Payables	12.09 Bil	12.90 Bil	11.83 Bil	12.02 Bil
Payables And Accrued Expenses	20.74 Bil	22.49 Bil	21.46 Bil	22.20 Bil
Total Tax Payable	4.63 Bil	4.95 Bil	3.31 Bil	4.22 Bil
Total Capitalization	55.65 Bil	42.95 Bil	43.00 Bil	44.89 Bil
Total Non Current Assets	74.87 Bil	69.78 Bil	65.51 Bil	65.34 Bil
Other Non Current Liabilities	7.46 Bil	7.61 Bil	9.00 Bil	8.23 Bil
Invested Capital	62.51 Bil	52.13 Bil	51.46 Bil	51.67 Bil
Tangible Book Value	-12.26 Bil	-14.17 Bil	-9.47 Bil	-5.58 Bil
Total Equity	22.79 Bil	18.86 Bil	20.14 Bil	23.05 Bil
Working Capital	11.20 Bil	5.81 Bil	8.81 Bil	7.55 Bil
Current Deferred Assets	1.65 Bil	1.42 Bil	1.60 Bil	1.56 Bil
Non Current Deferred Assets	3.05 Bil	3.97 Bil	3.50 Bil	3.22 Bil
Ordinary Shares Number	1.05 Bil	1.12 Bil	1.16 Bil	1.23 Bil
Treasury Shares Number	1.15 Bil	1.08 Bil	1.02 Bil	933.81 Mil
TotalLiabilities Net Minority Interest	103.29 Bil	100.23 Bil	96.20 Bil	90.28 Bil
Total Non Current Liabilities Net Minority Interest	63.14 Bil	56.60 Bil	54.07 Bil	49.72 Bil
Total Equity Gross Minority Interest	22.93 Bil	18.98 Bil	20.24 Bil	23.17 Bil
Buildings And Improvements	9.68 Bil	9.61 Bil	9.53 Bil	9.41 Bil
Cash Cash Equivalents And Short Term Investments	11.07 Bil	11.13 Bil	11.92 Bil	11.65 Bil
Current Debt	6.86 Bil	9.18 Bil	8.46 Bil	6.78 Bil
Current Debt And Capital Lease Obligation	6.86 Bil	9.18 Bil	8.46 Bil	6.78 Bil
Employee Benefits	16.24 Bil	20.42 Bil	18.37 Bil	15.98 Bil
Finished Goods	444.00 Mil	475.00 Mil	589.00 Mil	432.00 Mil
Investments And Advances	4.64 Bil	5.02 Bil	4.90 Bil	5.78 Bil
Long Term Debt And Capital Lease Obligation	32.86 Bil	24.09 Bil	22.86 Bil	21.85 Bil
Notes Receivable	10.47 Bil	18.04 Bil	N/A	16.26 Bil
Patents	204.00 Mil	N/A	207.00 Mil	N/A
Non Current Pension And Other Postretirement Benefit Plans	16.24 Bil	20.42 Bil	18.37 Bil	15.98 Bil
Prepaid Assets	4.49 Bil	4.02 Bil	5.25 Bil	4.23 Bil
Non Current Prepaid Assets	5.55 Bil	945.00 Mil	2.84 Bil	3.07 Bil
Work In Process	1.87 Bil	1.81 Bil	2.01 Bil	2.02 Bil
Total Debt	39.72 Bil	33.27 Bil	31.32 Bil	28.62 Bil
Form Type	10-K	10-K	10-K	10-K

Cash Flow PageFull History
Period Ending	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Net Income	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Operarting Activities, Cash Flows
Depreciation	4.68 Bil	4.68 Bil	4.82 Bil	4.83 Bil
Amortization	1.35 Bil	1.28 Bil	1.23 Bil	1.17 Bil
Deferred Tax	-1.61 Bil	796.00 Mil	1.21 Bil	1.29 Bil
Changes In Accounts Receivables	-1.41 Bil	-2.23 Bil	-1.28 Bil	-489.00 Mil
Change In Inventory	-57.00 Mil	280.00 Mil	-163.00 Mil	92.00 Mil
Changes In Other Current Assets	N/A	N/A	N/A	N/A
Changes in Working Capital	-2.45 Bil	-2.45 Bil	-2.39 Bil	-1.24 Bil
Total Cash Flow From Operating Activities	17.49 Bil	19.59 Bil	19.85 Bil	19.55 Bil
Investing Activities, Cash Flows
Capital Expenditure	-4.14 Bil	-4.08 Bil	-4.67 Bil	-4.19 Bil
Net Business Purchase And Sale	-2.76 Bil	-3.12 Bil	-1.80 Bil	-5.87 Bil
Total Cash Flow From Investing Activities	-7.33 Bil	-9.00 Bil	-4.40 Bil	-8.51 Bil
Financing Activities, Cash Flows
Cash Dividends Paid	-4.06 Bil	-3.77 Bil	-3.47 Bil	-3.18 Bil
Sale Purchase of Stock	N/A	N/A	N/A	N/A
Net Borrowings	6.96 Bil	2.25 Bil	2.37 Bil	2.35 Bil
Other Cash Flows From Financing Activities	-1,000,000.00	1.54 Bil	N/A	-1,000,000.00
Total Cash Flow From Investing Activities	-9.88 Bil	-11.98 Bil	-13.70 Bil	-12.43 Bil
Effect Of Exchange Rate Changes	28.00 Mil	-117.00 Mil	-493.00 Mil	-135.00 Mil
Cash Interest Paid, Supplemental	N/A	1.01 Bil	956.00 Mil	951.00 Mil
Cash Taxes Paid, Supplemental	N/A	3.17 Bil	4.17 Bil	3.24 Bil
Change In Cash and Cash Equivalents	304.00 Mil	-1.51 Bil	1.26 Bil	-1.52 Bil
Other Cash Flow Information
Beginning Cash Position	10.41 Bil	11.92 Bil	10.66 Bil	12.18 Bil
End Cash Position	10.72 Bil	10.41 Bil	11.92 Bil	10.66 Bil
Change In Account Payable	-529.00 Mil	-224.00 Mil	451.00 Mil	174.00 Mil
Change In Accrued Expense	294.00 Mil	-1.01 Bil	-1.37 Bil	-1.96 Bil
Change In Other Working Capital	-747.00 Mil	733.00 Mil	-28.00 Mil	949.00 Mil
Change In Payable	-529.00 Mil	-224.00 Mil	451.00 Mil	174.00 Mil
Depreciation And Amortization	4.68 Bil	4.68 Bil	4.82 Bil	4.83 Bil
Net Common Stock Issuance	-12.79 Bil	-12.00 Bil	-12.59 Bil	-11.60 Bil
Net Long Term Debt Issuance	6.34 Bil	2.69 Bil	1.05 Bil	1.53 Bil
Net Short Term Debt Issuance	621.00 Mil	-441.00 Mil	1.32 Bil	817.00 Mil
Net Income From Continuing Operations	16.48 Bil	16.60 Bil	15.86 Bil	14.83 Bil
Operating Gains Losses	-236.00 Mil	-729.00 Mil	-342.00 Mil	-801.00 Mil
Other Non Cash Items	614.00 Mil	688.00 Mil	697.00 Mil	629.00 Mil
Common Stock Payments	-13.86 Bil	-12.00 Bil	-15.05 Bil	-15.38 Bil
Long Term Debt Payments	-10.01 Bil	-9.55 Bil	-8.95 Bil	-6.52 Bil
Purchase Of Business	N/A	-3.72 Bil	-1.81 Bil	-5.92 Bil
Net PPE Purchase And Sale	-3.25 Bil	-3.67 Bil	-3.50 Bil	-3.42 Bil
Sale Of PPE	372.00 Mil	410.00 Mil	608.00 Mil	770.00 Mil
Net Other Investing Changes	-1.06 Bil	-608.00 Mil	-291.00 Mil	-404.00 Mil
Purchase of Investment	-4.61 Bil	-4.11 Bil	-1.59 Bil	-6.13 Bil
Purchase of PPE	-3.62 Bil	-4.08 Bil	-4.11 Bil	-4.19 Bil
Purchase of Short Term Investments	-4.61 Bil	-4.11 Bil	-1.59 Bil	-6.13 Bil
Net Investment Purchase and Sale	265.00 Mil	-967.00 Mil	1.75 Bil	1.75 Bil
Stock Based Compensation	614.00 Mil	688.00 Mil	697.00 Mil	629.00 Mil
Amortization of Intangibles	1.35 Bil	1.28 Bil	1.23 Bil	1.17 Bil
Domestic Sales	34.81 Bil	36.27 Bil	37.04 Bil	35.58 Bil
Foreign Sales	64.94 Bil	68.24 Bil	69.88 Bil	64.29 Bil
Income Tax Paid Supplemental Data	N/A	3.17 Bil	4.17 Bil	3.24 Bil
Interest Paid Supplemental Data	N/A	1.01 Bil	956.00 Mil	951.00 Mil
Issuance Of Capital Stock	1.07 Bil	N/A	2.45 Bil	3.77 Bil
Repayment Of Debt	-10.01 Bil	-9.55 Bil	-8.95 Bil	-6.52 Bil
Repurchase Of Capital Stock	-13.86 Bil	-12.00 Bil	-15.05 Bil	-15.38 Bil
Free Cash Flow	13.35 Bil	15.50 Bil	15.18 Bil	15.36 Bil
Sale of Investment	4.87 Bil	3.14 Bil	3.35 Bil	7.88 Bil
Common Stock Dividend Paid	-4.06 Bil	N/A	N/A	-3.18 Bil
Depreciation	3.33 Bil	3.39 Bil	3.59 Bil	3.66 Bil
Long Term Debt Issuance	16.35 Bil	12.24 Bil	10.00 Bil	8.06 Bil
Purchase of Intangibles	-517.00 Mil	N/A	-559.00 Mil	N/A
Purchase of Technology	N/A	-635.00 Mil	N/A	-569.00 Mil
Net Intangibles Purchase and Sale	-517.00 Mil	N/A	-559.00 Mil	N/A
Net Technology Purchase and Sale	N/A	-635.00 Mil	N/A	-569.00 Mil
Sale of Business	N/A	599.00 Mil	14.00 Mil	55.00 Mil
Issuance of Debt	16.35 Bil	12.24 Bil	10.00 Bil	8.06 Bil
Form Type	10-K	10-K	10-K	10-K

Institutional Holdings (TTM)
As of Date	2014-02-28
Number Of Owners	2,717.00
Total Shares Owned	650.57 Mil
Percentage Ownership	62.14
Total Market Value	119.83 Bil
Number Of New Owners	312.00
Total Shares Bought By New Owners	11.12 Mil
Number Of Sold Out Owners	179.00
Total Shares Sold Out	10.71 Mil
Number Of Existing Owner Buying	812.00
Total Shares Bought	20.15 Mil
Number Of Existing Owner Selling	1,136.00
Total Shares Sold	43.08 Mil

Trailing Market Return
Period Ending Date	2014-03-14
Trailing Market Return after 1 Day	-0.9190
Trailing Market Return after 1 Week	-2.91
Trailing Market Return after 1 Month	-0.8057
Trailing Market Return after 3 Month	6.00
Trailing Market Return after 6 Month	-4.19
Trailing Market Return after 9 Month	-8.48
Trailing Market Return after 1 Year	-13.80
Trailing Market Return after 3 Year	6.04
Trailing Market Return after 5 Year	16.89
Trailing Market Return after 7 Year	11.49
Trailing Market Return Month To Date	-1.5985
Trailing Market Return Quarter To Date	-2.35
Trailing Market Return Year To Date	-2.35

Return Statistics
Period Ending	2014-02-28	2014-02-28	2014-02-28	2014-02-28
Number Of Months	12.00	36.00	60.00	120.00
Mean	-0.3917	0.6124	1.42	0.8221
Standard Deviation	17.30	14.62	15.38	18.57
Best 3 Month Return	4.05	13.90	16.08	19.72
Worst 3 Month Return	-11.92	-11.92	-11.92	-32.56
Alpha	N/A	-0.0007	0.0025	0.0045
Beta	N/A	0.6820	0.7144	0.7547

Profitability Ratios (TTM)
Report Date	2013-12-31
Gross Margin	0.4863
Operating Margin	0.1882
EBT Margin	0.1957
Tax Rate	0.1558
Net Margin	0.1652
Sales Per Employee	215,080.26
EBIT Margin	0.1998
EBITDA Margin	0.2467
Normalized Net Profit Margin	0.1562
Interest Coverage	49.57
Inc Per Employee Total Operation	35,540.17

Efficiency Ratios (TTM)
Report Date	2013-12-31
Days In Sale	25.84
Days In Inventory	16.37
Days In Payment	54.89
Cash Conversion Cycle	-12.68
Receivable Turnover	14.13
Inventory Turnover	22.30
Payable Turnover	6.65
Fixed Assets Turnover	7.17
Assets Turnover	0.8128
ROE	0.7915
ROA	0.1343
ROIC	0.2816
FCF Sales Ratio	0.1338
FCF Net Income Ratio	0.8096
Capital Expenditure Sales Ratio	0.0415

Efficiency Ratios Page				Full History
Period Ending Date	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Days In Sales	25.84	44.01	42.04	43.58
Days In Inventory	16.37	16.44	16.22	16.75
Days In Payment	54.89	55.44	52.46	51.64
Cash Conversion Cycle	-12.68	5.00	5.79	8.69
Receivable Turnover	14.13	8.29	8.68	8.38
Inventory Turnover	22.30	22.21	22.51	21.79
Payable Turnover	6.65	6.58	6.96	7.07
Fixed Assets Turnover	7.17	7.50	7.64	7.07
Assets Turnover	0.8128	0.8870	0.9302	0.8978
ROE	0.7915	0.8515	0.7343	0.6494
ROA	0.1343	0.1409	0.1379	0.1333
ROIC	0.2816	0.3139	0.3015	0.2899
FCF Sales Ratio	0.1338	0.1484	0.1420	0.1538
FCF Net Income Ratio	0.8096	0.9338	0.9574	1.04
Capital Expenditure Sales Ratio	0.0415	0.0391	0.0437	0.0419

Valuation Ratios Page				Full History
As of Date	2013-12-31	2012-12-31	2011-12-30	2010-12-31
Sales Per Share	90.43	90.45	88.09	77.58
Book Value Per Share	21.62	16.88	17.31	18.77
CF Per Share	15.85	16.95	16.35	15.19
FCF Per Share	12.10	13.42	12.51	11.93
Price To EPS	12.55	13.33	14.08	12.74
Ratio PE 5 Year High	14.45	14.74	14.92	12.80
Ratio PE 5 Year Low	5.47	4.84	5.32	6.03
Price To Book	8.68	11.35	10.62	7.82
Price To Sales	2.07	2.12	2.09	1.89
Price To Cash Flow	11.83	11.30	11.25	9.66
Price To Free Cash Flow	15.50	14.27	14.71	12.30
Cash Return	0.0589	0.0656	0.0651	0.0779
Div Rate	3.80	3.80	3.40	3.00
Dividend Yield	0.0197	0.0172	0.0158	0.0170
Div Payout Tot Ops	0.2457	0.2271	0.2189	0.2138
Div Payout 5 Year	0.2236	0.2164	0.2119	0.2036
Div Yield 5 Year	0.0172	0.0168	0.0161	0.0152
Payout Ratio	0.2476	0.2296	0.2220	0.2170
Sustainable Growth Rate	0.5955	0.6560	0.5713	0.5085

Growth Ratios Page				Full History
Period Ending Date	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Diluted EPS 1 Year Growth	0.0397	0.1003	0.1337	0.1508
Diluted EPS 3 Year Growth	0.0905	0.1281	0.1351	0.1707
Diluted EPS 5 Year Growth	0.1084	0.1489	0.1641	0.1879
Diluted EPS 10 Year Growth	0.1321	0.2144	0.1162	0.1000
Diluted Continuous EPS 1 Year Growth	0.0399	0.1001	0.1337	0.1511
Diluted Continuous EPS 3 Year Growth	0.0905	0.1281	0.1352	0.1708
Diluted Continuous EPS 5 Year Growth	0.1085	0.1489	0.1660	0.1860
Diluted Continuous EPS 10 Year Growth	0.1316	0.1669	0.1162	0.1001
Dividend 1 YearGrowth	0.1212	0.1379	0.1600	0.1628
Dividend 3 YearGrowth	0.1396	0.1535	0.1514	0.1856
Dividend 5 YearGrowth	0.1426	0.1708	0.2140	0.2623
Dividend 10 YearGrowth	0.1937	0.1879	0.1809	0.1723
Equity Per Share 1 Year Growth	0.2807	-0.0251	-0.0775	0.0822
Equity Per Share 3 Year Growth	0.0482	-0.0090	0.1986	-0.0300
Equity Per Share 5 Year Growth	0.1654	-0.0387	-0.0177	-0.0233
Equity Per Share 10 Year Growth	0.0293	0.0227	0.0245	0.0495
Revenue 1 Year Growth	-0.0455	-0.0225	0.0706	0.0429
Revenue 3 Year Growth	-0.0004	0.0296	0.0105	0.0036
Revenue 5 Year Growth	-0.0076	0.0113	0.0318	0.0185
Revenue 10 Year Growth	0.0113	0.0256	0.0222	0.0123
Operating Income1YearGrowth	-0.0815	0.0077	0.1177	0.0668
Operating Income3YearGrowth	0.0114	0.0631	0.0837	0.1032
Operating Income5YearGrowth	0.0333	0.0863	0.1119	0.1412
Operating Income10YearGrowth	0.0641	0.1164	0.0812	0.0455
Net Income 1 Year Growth	-0.0073	0.0472	0.0689	0.1049
Net Income 3 Year Growth	0.0358	0.0734	0.0873	0.1250
Net Income 5 Year Growth	0.0597	0.0977	0.1081	0.1333
Net Income 10 Year Growth	0.0807	0.1659	0.0746	0.0625
Net Income Cont Ops 1 Year Growth	-0.0073	0.0472	0.0689	0.1049
Net Income Cont Ops 3 Year Growth	0.0358	0.0734	0.0873	0.1250
Net Income Cont Ops 5 Year Growth	0.0597	0.0977	0.1098	0.1316
Net Income Cont Ops 10 Year Growth	0.0803	0.1203	0.0746	0.0625
CFO 1 Year Growth	-0.1073	-0.0131	0.0152	-0.0589
CFO 3 Year Growth	-0.0365	-0.0194	0.0180	0.0671
CFO 5 Year Growth	-0.0145	0.0401	0.0575	0.0556
CFO 10 Year Growth	0.0196	0.0413	0.0336	0.0774
FCF 1 Year Growth	-0.1393	0.0214	-0.0120	-0.1132
FCF 3 Year Growth	-0.0459	-0.0364	0.0121	0.1323
FCF 5 Year Growth	-0.0184	0.0793	0.0905	0.0677
FCF 10 Year Growth	0.0291	0.0643	0.0584	0.1543
Operating Revenue 1 Year Growth	-0.0455	-0.0225	0.0706	0.0429
Operating Revenue 3 Year Growth	-0.0004	0.0296	0.0105	0.0036
Operating Revenue 5 Year Growth	-0.0076	0.0113	0.0318	0.0185
Operating Revenue 10 Year Growth	0.0113	0.0256	0.0222	0.0123
Growth Ann Capital Spending 5 Year	-0.0015	-0.0581	-0.0201	0.0173
Growth Ann Gross Profit 5 Year	0.0122	0.0381	0.0554	0.0472
Avg Gross Margin 5 Year	0.4709	0.4618	0.4500	0.4400
Avg Post Tax Margin 5 Year	0.1522	0.1430	0.1323	0.1234
Avg Pre Tax Margin 5 Year	0.1977	0.1908	0.1783	0.1681
Avg Net Profit Margin 5 Year	0.1522	0.1430	0.1323	0.1234
Avg Ret Common Equity 5 Year	0.7541	0.7134	0.6163	0.5310
Avg Ret Assets 5 Year	0.1339	0.1285	0.1189	0.1095
Avg Ret Invested Capital 5 Year	0.2920	0.2783	0.2502	0.2247

Financial Health Ratios Page				Full History
Period Ending Date	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Fiscal Year End	12.00	12.00	12.00	12.00
Current Ratio	1.28	1.13	1.21	1.19
Quick Ratio	1.07	0.9560	0.9848	0.9831
Debt Total Capital Ratio	0.5904	0.5609	0.5316	0.4866
Debt Equity Ratio	1.44	1.28	1.14	0.9479
Financial Leverage	5.54	6.32	5.78	4.92
Total Debt To Equity	1.74	1.76	1.56	1.24
Accession Number	0001047469-14-001302	0001047469-13-001698	0001047469-12-001742	0001047469-11-001117
Form Type	10-K	10-K	10-K	10-K

Profitability Ratios Page				Full History
Period Ending Date	2013-12-31	2012-12-31	2011-12-31	2010-12-31
StatementType	Annual	Annual	Annual	Annual
DataType	A	A	A	A
CurrencyId	USD	USD	USD	USD
FiscalYearEnd	12.00	12.00	12.00	12.00
GrossMargin	0.4863	0.4813	0.4689	0.4607
OperatingMargin	0.1882	0.1956	0.1897	0.1817
EBTMargin	0.1957	0.2096	0.1964	0.1975
TaxRate	0.1558	0.2419	0.2451	0.2479
NetMargin	0.1652	0.1589	0.1483	0.1485
SalesPerEmployee	215,080.26	223,786.12	246,712.91	234,024.06
EBITMargin	0.1998	0.2140	0.2003	0.2012
EBITDAMargin	0.2467	0.2587	0.2453	0.2495
NormalizedNetProfitMargin	0.1562	0.1564	0.1413	0.1485
InterestCoverage	49.57	48.71	52.10	54.60
IncPerEmployeeTotOps	35,540.17	35,554.98	36,586.04	34,757.97
FormType	10-K	10-K	10-K	10-K

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