8-KEarnings & ResultsRegulation FDExhibits & Filings

INTERNATIONAL BUSINESS MACHINES CORP 8-K Report, Financial Results (Jan 21, 2020)

Filed January 21, 2020For Securities:IBM

Summary

International Business Machines Corp (IBM) filed an 8-K on January 21, 2020, to report its financial results for the periods ending December 31, 2019. The filing primarily directs investors to accompanying exhibits, including a press release (Exhibit 99.1) detailing the company's GAAP and non-GAAP financial results, and presentation slides (Exhibit 99.3) from the Chief Financial Officer's earnings call. Investors should refer to these exhibits for a comprehensive understanding of IBM's performance and financial condition as of year-end 2019. The press release also includes management's rationale for using non-GAAP measures (Exhibit 99.2), which is an important disclosure for interpreting the reported financial figures. This 8-K serves as a notification of the availability of these key financial disclosures. While the 8-K itself is brief, the referenced exhibits contain the substantive financial information. Investors interested in IBM's operational and financial health at the close of 2019 will need to examine the earnings release and presentation slides for detailed figures, trends, and management commentary. The company also reiterated its practice of providing investor information on its website.

Key Highlights

  • 1IBM filed an 8-K on January 21, 2020, announcing its financial results for the period ending December 31, 2019.
  • 2The filing incorporates by reference a press release (Exhibit 99.1) containing the company's financial results prepared in accordance with GAAP.
  • 3Non-GAAP financial measures are also provided in Exhibit 99.1, with reconciliations to GAAP figures available.
  • 4Management's rationale for utilizing non-GAAP financial measures is detailed in a separate exhibit (Exhibit 99.2).
  • 5Presentation slides from the CFO's earnings call on fourth-quarter and full-year 2019 results are provided as Exhibit 99.3.
  • 6The company encourages investors to visit its website for ongoing updates and information.

Frequently Asked Questions

The detailed financial results are primarily located in Exhibit 99.1, which is the company's earnings press release dated January 21, 2020, and incorporated by reference into this 8-K filing. Additionally, Exhibit 99.3 contains the presentation slides from the CFO's earnings call.

The filing indicates that IBM is providing non-GAAP financial measures alongside GAAP results, as management believes these non-GAAP measures offer additional useful insights to investors. Reconciliations between the non-GAAP and GAAP figures are included in Exhibit 99.1, and the reasoning behind using these measures is explained in Exhibit 99.2.

This 8-K filing is primarily referencing and making available previously issued disclosures, namely the earnings press release (Exhibit 99.1) and the earnings presentation (Exhibit 99.3), which contain the financial results for the period ended December 31, 2019.

IBM encourages investors to visit its investor relations website (www.ibm.com/investor/) for updated financial and other information, as the company regularly posts new content there.