International Business Machines Corporation · NYSE:IBM

International Business Machines — Investor Presentation (2015)

6 slides from International Business Machines's investor presentation, 2015

1. Slide 1: Non-GAAP Supplemental Materials

   NON-GAAP SUPPLEMENTAL MATERIALS © 2015 International Business Machines Corporation 1

2. Slide 2: Non-GAAP Supplemental Materials

   Non-GAAP Supplemental Materials In an effort to provide investors with additional information regarding the company's results as determined by generally accepted accounting principles (GAAP), the company also discusses, in its earnings press release and earnings presentation materials, the following

3. Slide 3: Non-GAAP Supplemental Materials: Constant Currency and Cash Flow

   Non-GAAP Supplemental Materials Constant Currency Management refers to growth rates at constant currency or adjusting for currency so that certain financial results can be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons

4. Slide 4: Reconciliation of Strategic Imperatives Revenue Growth

   Non-GAAP Supplemental Materials Reconciliation of Strategic Imperatives Revenue Growth* At Actual Rate @ Constant Currency 2010 20% 19% 2011 23% 19% 2012 18% 20% 2013 17% 19% 2014 16% 19% *Historical information on strategic imperatives revenue which has been measured on a consistent basis. The abov

5. Slide 5: Reconciliation of Free Cash Flow (excluding GF Receivables, adjusted for Taxes and Gains)

   Non-GAAP Supplemental Materials Reconciliation of Free Cash Flow (excluding GF Receivables, adjusted for Taxes and Gains) $ in Billions 2010 2011 2012 2013 2014 Free Cash Flow (excluding GF Receivables)* $16.3 $16.6 $18.2 $15.0 $12.4 Less: Taxes and Gains Taxes** 1.8 1.2 2.4 (0.7) (1.5) Gains on ass

6. Slide 6: © 2015 International Business Machines Corporation

   © 2015 International Business Machines Corporation 6

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