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IBM » Topics » Return on Equity

This excerpt taken from the IBM 10-K filed Feb 24, 2009.

RETURN ON EQUITY

 

($ IN MILLIONS)

 

 

 

 

 

At December 31:

 

2008

 

2007

 

Numerator:

 

 

 

 

 

Global Financing after-tax income(a)*

 

$

1,049

 

$

877

 

Denominator:

 

 

 

 

 

Average Global Financing equity(b)**

 

$

3,572

 

$

3,365

 

Global Financing return on equity(a)/(b)

 

29.4

%

26.1

%

*                 Calculated based upon an estimated tax rate principally based on Global Financing’s geographic mix of earnings as IBM’s provision for income taxes is determined on a consolidated basis.

 

**          Average of the ending equity for Global Financing for the last five quarters.

 

This excerpt taken from the IBM 10-K filed Feb 26, 2008.

Return on Equity

 

($ in millions)

 

 

 

 

 

AT DECEMBER 31:

 

2007

 

2006

 

Numerator:

 

 

 

 

 

Global Financing after tax income(a)*

 

$

877

 

$

914

 

Denominator:

 

 

 

 

 

Average Global Financing equity(b)**

 

$

3,365

 

$

3,097

 

Global Financing Return on Equity(a)/(b)

 

26.1

%

29.5

%

* Calculated based upon an estimated tax rate principally based on Global Financing’s geographic mix of earnings as IBM’s provision for income taxes is determined on a consolidated basis.

** Average of the ending equity for Global Financing for the last five quarters.

 

EXCERPTS ON THIS PAGE:

10-K
Feb 24, 2009
10-K
Feb 26, 2008

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