International Business Machines Corp.、合并资产负债表结构：负债和股东权益（季度数据）
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2025年6月30日 |
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2025年3月31日 |
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2024年12月31日 |
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2024年9月30日 |
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2024年6月30日 |
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2024年3月31日 |
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2023年12月31日 |
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2023年9月30日 |
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2023年6月30日 |
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2023年3月31日 |
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2022年12月31日 |
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2022年9月30日 |
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2022年6月30日 |
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2022年3月31日 |
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2021年12月31日 |
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2021年9月30日 |
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2021年6月30日 |
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2021年3月31日 |
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2020年12月31日 |
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2020年9月30日 |
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2020年6月30日 |
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2020年3月31日 |
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税 |
1.13% | |
1.08% | |
1.48% | |
1.18% | |
1.26% | |
1.25% | |
1.68% | |
1.21% | |
1.21% | |
1.23% | |
1.73% | |
1.32% | |
1.37% | |
1.35% | |
1.73% | |
1.50% | |
1.54% | |
1.78% | |
2.12% | |
1.54% | |
1.70% | |
1.53% | |
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短期债务 |
6.02% | |
4.75% | |
3.71% | |
2.68% | |
2.69% | |
3.99% | |
4.75% | |
4.96% | |
5.13% | |
3.66% | |
3.74% | |
4.72% | |
4.69% | |
5.77% | |
5.14% | |
5.25% | |
4.39% | |
3.50% | |
4.61% | |
6.67% | |
6.02% | |
7.59% | |
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应付帐款 |
2.67% | |
2.46% | |
2.94% | |
2.44% | |
2.71% | |
2.62% | |
3.06% | |
2.58% | |
2.82% | |
2.79% | |
3.18% | |
3.02% | |
2.91% | |
2.59% | |
3.00% | |
2.95% | |
2.87% | |
2.79% | |
3.15% | |
2.59% | |
3.06% | |
2.72% | |
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薪酬福利 |
2.26% | |
2.51% | |
2.63% | |
2.42% | |
2.33% | |
2.33% | |
2.59% | |
2.52% | |
2.41% | |
2.07% | |
2.74% | |
2.68% | |
2.61% | |
2.20% | |
2.43% | |
2.62% | |
2.62% | |
2.19% | |
2.21% | |
2.34% | |
2.26% | |
1.97% | |
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递延收入 |
10.11% | |
10.34% | |
10.14% | |
9.59% | |
10.19% | |
10.24% | |
9.95% | |
9.22% | |
9.61% | |
9.89% | |
9.46% | |
8.85% | |
9.82% | |
10.15% | |
9.48% | |
8.50% | |
9.04% | |
9.55% | |
8.23% | |
7.58% | |
8.09% | |
8.72% | |
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当前经营租赁负债 |
0.55% | |
0.55% | |
0.56% | |
0.59% | |
0.57% | |
0.57% | |
0.61% | |
0.62% | |
0.64% | |
0.65% | |
0.69% | |
0.67% | |
0.69% | |
0.72% | |
0.74% | |
0.89% | |
0.91% | |
0.90% | |
0.87% | |
0.87% | |
0.87% | |
0.87% | |
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其他应计费用和负债 |
2.65% | |
2.42% | |
2.70% | |
2.59% | |
2.39% | |
2.63% | |
2.60% | |
2.56% | |
2.76% | |
2.89% | |
3.23% | |
2.94% | |
2.89% | |
2.77% | |
2.95% | |
3.13% | |
3.57% | |
3.88% | |
4.39% | |
3.07% | |
2.92% | |
3.11% | |
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流动负债 |
25.39% |
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24.10% |
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24.16% |
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21.48% |
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22.15% |
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23.62% |
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25.23% |
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23.67% |
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24.59% |
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23.19% |
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24.76% |
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24.21% |
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24.98% |
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25.55% |
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25.47% |
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24.85% |
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24.94% |
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24.59% |
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25.56% |
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24.65% |
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24.93% |
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26.51% |
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长期债务，不包括当前到期的债务 |
37.16% | |
38.70% | |
36.36% | |
39.44% | |
39.54% | |
39.39% | |
37.06% | |
37.76% | |
38.34% | |
40.28% | |
36.30% | |
35.71% | |
34.77% | |
34.92% | |
34.03% | |
32.54% | |
33.20% | |
34.45% | |
34.85% | |
35.77% | |
35.96% | |
34.34% | |
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退休和非养老金退休后福利义务 |
6.65% | |
6.55% | |
6.88% | |
7.72% | |
7.62% | |
7.60% | |
7.99% | |
7.03% | |
7.10% | |
7.12% | |
7.54% | |
9.34% | |
10.29% | |
10.46% | |
10.94% | |
11.62% | |
11.76% | |
11.67% | |
11.70% | |
10.86% | |
10.69% | |
10.74% | |
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递延收入 |
2.63% | |
2.64% | |
2.64% | |
2.73% | |
2.61% | |
2.54% | |
2.61% | |
2.39% | |
2.47% | |
2.58% | |
2.75% | |
2.40% | |
2.41% | |
2.57% | |
2.71% | |
2.75% | |
2.80% | |
2.79% | |
2.76% | |
2.48% | |
2.46% | |
2.46% | |
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非流动经营租赁负债 |
1.84% | |
1.89% | |
1.94% | |
2.05% | |
1.90% | |
1.88% | |
1.90% | |
1.91% | |
1.50% | |
1.57% | |
1.72% | |
1.67% | |
1.71% | |
1.77% | |
1.87% | |
2.21% | |
2.23% | |
2.27% | |
2.29% | |
2.36% | |
2.39% | |
2.48% | |
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其他责任 |
7.76% | |
7.62% | |
8.05% | |
8.33% | |
8.17% | |
7.96% | |
8.49% | |
9.34% | |
9.15% | |
9.05% | |
9.62% | |
10.66% | |
10.58% | |
10.39% | |
10.60% | |
10.53% | |
10.04% | |
9.75% | |
9.55% | |
10.05% | |
10.16% | |
10.35% | |
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非流动负债 |
56.04% |
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57.40% |
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55.87% |
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60.26% |
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59.84% |
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59.37% |
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58.05% |
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58.43% |
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58.56% |
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60.59% |
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57.93% |
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59.78% |
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59.75% |
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60.11% |
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60.14% |
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59.65% |
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60.03% |
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60.94% |
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61.15% |
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61.51% |
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61.65% |
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60.37% |
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负债合计 |
81.43% |
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81.50% |
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80.03% |
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81.74% |
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81.99% |
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82.99% |
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83.28% |
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82.09% |
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83.16% |
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83.78% |
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82.69% |
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83.99% |
|
84.72% |
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85.66% |
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85.61% |
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84.50% |
|
84.97% |
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85.53% |
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86.71% |
|
86.16% |
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86.58% |
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86.88% |
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普通股，每股面值 0.20 美元，以及额外的实收资本 |
41.99% | |
42.50% | |
44.75% | |
45.42% | |
45.20% | |
43.85% | |
44.10% | |
45.86% | |
44.60% | |
43.91% | |
45.85% | |
46.18% | |
45.33% | |
43.22% | |
43.42% | |
39.66% | |
38.76% | |
38.21% | |
36.26% | |
36.57% | |
36.40% | |
36.57% | |
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留存收益 |
101.87% | |
103.46% | |
110.20% | |
111.50% | |
113.31% | |
110.35% | |
111.86% | |
115.61% | |
112.94% | |
111.69% | |
117.75% | |
118.09% | |
120.23% | |
115.10% | |
116.82% | |
112.16% | |
110.40% | |
109.14% | |
104.33% | |
105.63% | |
105.42% | |
106.01% | |
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库存股，按成本计算 |
-114.55% | |
-116.82% | |
-123.90% | |
-126.50% | |
-126.87% | |
-123.76% | |
-125.42% | |
-131.18% | |
-128.26% | |
-126.87% | |
-133.20% | |
-134.70% | |
-132.96% | |
-127.12% | |
-128.33% | |
-117.47% | |
-115.39% | |
-113.95% | |
-108.57% | |
-109.90% | |
-109.85% | |
-110.45% | |
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累计其他综合亏损 |
-10.80% | |
-10.69% | |
-11.13% | |
-12.22% | |
-13.69% | |
-13.48% | |
-13.87% | |
-12.45% | |
-12.48% | |
-12.56% | |
-13.16% | |
-13.62% | |
-17.39% | |
-16.91% | |
-17.60% | |
-18.93% | |
-18.83% | |
-19.01% | |
-18.81% | |
-18.55% | |
-18.65% | |
-19.09% | |
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IBM 股东权益合计 |
18.51% |
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18.45% |
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19.91% |
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18.20% |
|
17.95% |
|
16.96% |
|
16.66% |
|
17.85% |
|
16.79% |
|
16.17% |
|
17.25% |
|
15.95% |
|
15.22% |
|
14.29% |
|
14.32% |
|
15.41% |
|
14.95% |
|
14.39% |
|
13.21% |
|
13.76% |
|
13.33% |
|
13.04% |
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|
|
非控制性权益 |
0.05% | |
0.05% | |
0.06% | |
0.06% | |
0.06% | |
0.05% | |
0.06% | |
0.06% | |
0.05% | |
0.05% | |
0.06% | |
0.06% | |
0.05% | |
0.05% | |
0.07% | |
0.09% | |
0.09% | |
0.08% | |
0.08% | |
0.08% | |
0.09% | |
0.08% | |
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权益合计 |
18.57% |
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18.50% |
|
19.97% |
|
18.26% |
|
18.01% |
|
17.01% |
|
16.72% |
|
17.91% |
|
16.84% |
|
16.22% |
|
17.31% |
|
16.01% |
|
15.28% |
|
14.34% |
|
14.39% |
|
15.50% |
|
15.03% |
|
14.47% |
|
13.29% |
|
13.84% |
|
13.42% |
|
13.12% |
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|
|
负债和权益合计 |
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
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根据报告：
10-Q (报告日期： 2025-06-30), 10-Q (报告日期： 2025-03-31), 10-K (报告日期： 2024-12-31), 10-Q (报告日期： 2024-09-30), 10-Q (报告日期： 2024-06-30), 10-Q (报告日期： 2024-03-31), 10-K (报告日期： 2023-12-31), 10-Q (报告日期： 2023-09-30), 10-Q (报告日期： 2023-06-30), 10-Q (报告日期： 2023-03-31), 10-K (报告日期： 2022-12-31), 10-Q (报告日期： 2022-09-30), 10-Q (报告日期： 2022-06-30), 10-Q (报告日期： 2022-03-31), 10-K (报告日期： 2021-12-31), 10-Q (报告日期： 2021-09-30), 10-Q (报告日期： 2021-06-30), 10-Q (报告日期： 2021-03-31), 10-K (报告日期： 2020-12-31), 10-Q (报告日期： 2020-09-30), 10-Q (报告日期： 2020-06-30), 10-Q (报告日期： 2020-03-31).
从所提供的财务数据中可以观察到公司的负债结构和权益变化具有一定的稳定性。整体负债比例（负债和权益占总负债和权益的百分比）在不同时间点维持在较高水平，基本在80%至87%之间，显示公司维持较高的杠杆水平。特别是长期债务的比例持续居高不下，约在34%至40%之间，表明公司较依赖长期融资，可能出于资本投资或运营扩展的需要。
短期债务的占比波动较大，呈现出下降趋势，从2020年的7.59%下降至2024年接近2.69%的低点，之后略有回升，反映出公司在流动负债管理方面趋向于缩减短期借款结构，以保持财务灵活性或降低短期偿债压力。
递延收入比例在年度中表现出一定的上升趋势，特别是在2021年后，比例逐步上升，显示公司在客户预付款项和未实现收入方面存有一定的积累，可能对应业务的持续增长或合同收入确认方式的变化。同时，递延收入的比重波动虽有所起伏，但总体维持在8%到10%之间，反映在收入确认上的一定稳定性。
关于权益部分，留存收益占比显著增加，自2020年约在104%至106%不断上升至2023年末的超出110%，体现累计盈利的增长。同期，普通股及实收资本所占比例逐步上升，显示公司可能通过股权融资增强资本实力。库存股的比重为负值（按成本计算），表示公司通过股票回购进行股东价值管理，回购规模较大，其比例在-110%至-135%之间，显示出持续的股票回购计划，以减少流通股数和提升每股收益。
公司权益总额（包括普通股、留存收益等）占总负债和权益的比例逐步提升，尤其在2021年后表现突出，从13%上升到近19%，说明股东权益在不断扩大，权益比例的上升可能带来更佳的财务稳健性，同时减缓负债比例的相对增加风险。
其他财务项目方面，税负比例波动较大，最大值在2020年和2020年末的2.12%至2.39%，随后逐步下降，显示税务负担在逐步减轻或税务规划策略的调整。应付账款及其他应计费用保持相对稳定，说明在营运资金管理方面保持较好平衡。非流动资产负债（包括长期债务和非流动负债）占比集中在58%至61%之间，表明公司资产和负债的非流动性质占据主导地位，反映出其资本密集型的业务特性。
总结而言，公司的财务结构在保证一定杠杆水平的同时，权益和留存收益逐步增加，股票回购行为明显，体现企业在提升股东价值方面的积极行动。负债结构方面，长期债务占比稳定，短期负债逐渐减少，显示出较强的财务管理能力。未来，持续关注权益扩展及负债结构调整，将有助于公司在竞争激烈的市场环境中保持财务稳健与扩张动力。
