International Business Machines Corporation · NYSE:IBM
International Business Machines — Q1 2019 Earnings Presentation
8 slides from International Business Machines's earnings presentation, Apr 17, 2019
Slide 1: Reconciliation of Operating Earnings Per Share
Non-GAAP Supplemental Materials Reconciliation of Operating Earnings Per Share 2 2019 Expectations GAAP Diluted EPS Operating EPS (Non-GAAP) at least $12.45 at least $13.90 Adjustments Acquisition-Related Charges* Non-Operating Retirement-Related Items Tax Reform Enactment Impacts $0.76 $0.45 $0.24
Slide 2: Reconciliation of Revenue Growth - 1Q 2019
Non-GAAP Supplemental Materials Reconciliation of Revenue Growth - 1Q 2019 3 1Q19 Yr/Yr 1Q19 Yr/Yr GAAP @CC GAAP @CC Global Technology Services Infrastructure & Cloud Services Technology Support Services Cloud Systems Systems Hardware IBM Z Power Storage Operating Systems Software Cloud Global Finan
Slide 3: Reconciliation of Revenue Growth - 1Q 2019 & Last 12 Months
Non-GAAP Supplemental Materials Reconciliation of Revenue Growth - 1Q 2019 & Last 12 Months 4 1Q19 Yr/Yr GAAP @CC Americas Europe/ME/Africa Asia Pacific (2%) (7%) (5%) (1%) Flat (2%) 1Q19 Yr/Yr Last 12 Months GAAP @CC GAAP @CC Total Cloud Revenue Total as-a-Service Revenue 7% 10% 12% 15% 10% 12% The
Slide 4: Reconciliation of Expense Summary
Non-GAAP Supplemental Materials Reconciliation of Expense Summary - 1Q 2019 1Q19 5 Non-GAAP Adjustments Operating (Non-GAAP) GAAP SG&A Currency Acquisitions Base * RD&E Currency Acquisitions Base * Operating Expense & Other Income Currency Acquisitions Base* 3 pts 0 pts 11 pts 0 pts 0 pts 1 pts 3 pt
Slide 5: Reconciliation of Free Cash Flow - Last 12 Months
Non-GAAP Supplemental Materials Reconciliation of Free Cash Flow-Last 12 Months 6 12 Months Ended Mar 2019 Net Cash from Operating Activities per GAAP: $15.4 Less: change in Global Financing (GF) Receivables ($0.2) Net Cash from Operating Activities (Excluding GF Receivables) $15.7 Capital Expenditu
Slide 6: Reconciliation of Free Cash Flow Realization - Last 12 Months
Non-GAAP Supplemental Materials Reconciliation of Free Cash Flow Realization-Last 12 Months 7 LTM Excluding Tax Reform* LTM Free Cash Flow Realization 141% 114% The above reconciles the Non-GAAP financial information contained in the “Cash Flow and Balance Sheet Highlights” discussion in the company
Slide 7: Reconciliation of Free Cash Flow Realization - Last 12 Months
Non-GAAP Supplemental Materials Reconciliation of Free Cash Flow Realization-Last 12 Months LTM Excluding L™ Tax Reform* Free Cash Flow Realization 141% 114% The above reconciles the Non-GAAP financial information contained in the “Cash Flow and Balance Sheet Highlights” discussion in the company's
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