International Business Machines Corporation · NYSE:IBM
International Business Machines — Q1 2021 Earnings Presentation
8 slides from International Business Machines's earnings presentation, Apr 20, 2021
Slide 1: IBM 1Q 2021 Earnings Non-GAAP Supplemental Material
IBM 1Q 2021 Earnings Non-GAAP Supplemental Material April 19, 2021 ibm.com/investor
Slide 2: Reconciliation of Revenue Performance - 1Q 2021 by Segment
Non-GAAP Supplemental Materials Reconciliation of Revenue Performance - 1Q 2021 1Q21 Yr/Yr1Q21 Yr/Yr GAAP @CC GAAP @CC Cloud & Cognitive Software 4% 1% Global Technology Services (1%) (5%) Cloud & Data Platforms 13% 10% Infrastructure & Cloud Services (1%) (5%) Cognitive Applications 4% 2% Technolog
Slide 3: Reconciliation of Revenue Performance - 1Q 2021 by Geography
Non-GAAP Supplemental Materials Reconciliation of Revenue Performance - 1Q 2021 1Q21 Yr/Yr GAAPDivest impact Currency impact Adjusted Total Revenue1% 0 pts (3 pts) (2%) Americas 0% 0 pts 0 pts 0% Europe/ME/Africa 2% 0 pts (8 pts) (5%) Asia Pacific 1% 0 pts (4 pts) (4%) Total Cloud21% 0 pts (4 pts) 1
Slide 4: Normalized Revenue for Red Hat and Cloud & Data Platforms
Non-GAAP Supplemental Materials Reconciliation of Revenue for Red Hat and Cloud & Data Platforms - 1Q 2021 1Q21 Yr/Yr Cloud & Data Revenue, Normalized for Historical ComparabilityRed Hat Platforms Revenue GAAP growth rate*53% 13% Impact from purchase accounting deferred revenue and intercompany adju
Slide 5: Expense Summary
Non-GAAP Supplemental Materials Reconciliation of Expense Summary - 1Q 2021 1Q21 Non-GAAPOperating GAAPAdjustments(Non-GAAP) SG&A Currency (2 pts) 0 pts (2 pts) Acquisitions/Divestitures0 pts 0 pts 0 pts Base*15 pts 2 pts 17 pts RD&E Currency(2 pts) 0 pts (2 pts) Acquisitions/Divestitures0 pts 0 pts
Slide 6: Continuing Operations Reconciliation
Non-GAAP Supplemental Materials Reconciliation of Continuing Operations - 1Q 2021 1Q21 Acquisition-Retirement-Spin-off-Related Related Tax Reform Related GAAPAdjustmentsAdjustmentsImpactsChargesAdjusted Gross Profit $8,204 $175 ——$3 $8,382 Gross Profit Margin46.3% 1.0 pts ——0.0 pts 47.3% SG&A 5,174
Slide 7: Free Cash Flow - Last 12 Months
Non-GAAP Supplemental Materials Reconciliation of Free Cash Flow - Last 12 Months 12 Months Ended Mar 2021 Net Cash from Operating Activities per GAAP:$18.6 Less: change in Global Financing (GF) Receivables$4.8 Net Cash from Operating Activities (Excluding GF Receivables)$13.8 Capital Expenditures,
Slide 8: L iS wn o > (ex = S (S) f=
L iS 2 wn o > (ex = S (S) 2 f= 2
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