IBM 8-K: Updates on Debt Instruments, Maturities to 2043

TL;DR

**IBM just updated its debt list, showing notes and debentures maturing through 2043.**

AI Summary

This 8-K filing from International Business Machines Corp (IBM) on January 24, 2024, primarily lists various debt instruments, including notes and debentures, with different interest rates and maturity dates ranging from 2024 to 2043. While no specific financial results or operational changes are disclosed, the filing serves to update the market on the company's outstanding debt structure. This matters to investors as it provides transparency into IBM's long-term financial obligations and capital structure, which can influence future interest expenses and overall financial health.

Why It Matters

This filing provides a snapshot of IBM's long-term debt, which is crucial for assessing the company's financial leverage and future cash flow commitments for interest payments and principal repayments.

Risk Assessment

Risk Level: low — This filing is informational, detailing existing debt instruments without indicating new financial distress or significant changes to the company's financial position.

Analyst Insight

A smart investor would use this information to understand IBM's debt profile and consider how future interest rate changes might impact the cost of refinancing these obligations as they mature, especially the higher-yielding debentures.

Key Numbers

• 1.125 Percent — Interest Rate (for Notes Due 2024)
• 7.00 Percent — Interest Rate (for Debentures Due 2025)
• 2024 — Earliest Maturity Year (for Notes)
• 2043 — Latest Maturity Year (for Notes)

Key Players & Entities

• INTERNATIONAL BUSINESS MACHINES CORP (company) — filer of the 8-K
• 0000051143 (company) — Central Index Key (CIK) for IBM
• 1.125 Percent (dollar_amount) — interest rate for Notes Due 2024
• 2024 (date) — maturity year for some notes
• 2043 (date) — latest maturity year for some notes

FAQ

Filing Documents

• ibm-20240124.htm (8-K) — 68KB
• ibm-20240124xex991.htm (EX-99.1) — 603KB
• ibm-20240124xex992.htm (EX-99.2) — 11KB
• 0000051143-24-000004.txt ( ) — 1056KB
• ibm-20240124.xsd (EX-101.SCH) — 8KB
• ibm-20240124_def.xml (EX-101.DEF) — 28KB
• ibm-20240124_lab.xml (EX-101.LAB) — 65KB
• ibm-20240124_pre.xml (EX-101.PRE) — 30KB
• ibm-20240124_htm.xml (XML) — 25KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. The registrant's press release dated January 24, 2024, regarding its financial results for the periods ended December 31, 2023, including consolidated financial statements for the periods ended December 31, 2023, is Exhibit 99.1 of this Form 8-K. In an effort to provide investors with additional information regarding the company's results as determined by generally accepted accounting principles (GAAP), the company has disclosed in the attached press release certain non-GAAP information which management believes provides useful information to investors. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in the press release, which is Exhibit 99.1 to this Form 8-K. The rationale for management's use of non-GAAP measures is included in Exhibit 99.2 to this Form 8-K. The information in this Item 2.02, including the corresponding Exhibits 99.1 and 99.2, is being furnished with the Commission and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following exhibits are being furnished as part of this report: Exhibit No. Description of Exhibit 99.1 Earnings Release of the Registrant, dated January 24, 2024 99.2 Non-GAAP Financial Information The following exhibit is being filed as part of this report: Exhibit No. Description of Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document) IBM's web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Date: January 24, 2024 By: /s/ Nicols A. Fehring Nicols A. Fehring Vice President and Controller 3

View Full Filing

View this 8-K filing on SEC EDGAR