Question
Please explain how to share observations regarding IBM's cash flow by discussing what is observed regarding cash flow from operations, cash flow from investing, and
Please explain how to share observations regarding IBM's cash flow by discussing what is observed regarding cash flow from operations, cash flow from investing, and cash flow from financing.
IBM's 10Q earnings press release below, you will find a statement of cash flows.
INTERNATIONAL BUSINESS MACHINES CORPORATION
CORPORATION CASH FLOW CASH FLOW
(Unaudited)
(Dollars in Millions) Three Months EndedTwelve Months Ended
December 31, December 31,
2018201720182017
Net Income from Operations $1,951 ($1,054) $8,728 $5,753
Depreciation/Amortization of Intangibles 1,111 1,150 4,479 4,541
Stock-based Compensation 139 146 510 534
Working Capital / Other 4,135 7,540 1,874 5,476
Global Financing A/R (3,219) (2,049) (345) 419
Net Cash Provided by Operating Activities $4,119 $5,733 $15,247 $16,724
Capital Expenditures, net of payments & proceeds (877) (965) (3,716) (3,312)
Divestitures, net of cash transferred - (240) - (205)
Acquisitions, net of cash acquired (16) (53) (139) (496)
Marketable Securities / Other Investments, net 1,348 (2,551) * (1,058) (3,068) *
Net Cash Used in Investing Activities $455 ($3,809) * ($4,913) ($7,081) *
Debt, net of payments & proceeds (1,145) 1,137 (300) 3,446
Dividends (1,416) (1,387) (5,666) (5,506)
Common Stock Repurchases (2,050) (666) (4,443) (4,340)
Common Stock Transactions - Other 5 (3) (60) (18)
Net Cash Used in Financing Activities ($4,605) ($919) ($10,469) ($6,418)
Effect of Exchange Rate changes on Cash (95) 62 (495) 937
Net Change in Cash, Cash Equivalents and Restricted Cash ($127) $1,066 * ($630) $4,161 *
Thank you
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