Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - INTERNATIONAL BUSINESS MACHINES CORP | ibm15q2_10q.htm |
| EX-11 - EX-11 - INTERNATIONAL BUSINESS MACHINES CORP | ibm15q2_ex11.htm |
| EX-31.1 - EX-31.1 - INTERNATIONAL BUSINESS MACHINES CORP | ibm15q2_ex31d1.htm |
| EX-32.2 - EX-32.2 - INTERNATIONAL BUSINESS MACHINES CORP | ibm15q2_ex32d2.htm |
| EX-32.1 - EX-32.1 - INTERNATIONAL BUSINESS MACHINES CORP | ibm15q2_ex32d1.htm |
| EX-31.2 - EX-31.2 - INTERNATIONAL BUSINESS MACHINES CORP | ibm15q2_ex31d2.htm |
EXHIBIT 12
COMPUTATION OF RATIO OF INCOME FROM
CONTINUING OPERATIONS TO FIXED CHARGES
FOR SIX MONTHS ENDED JUNE 30,
(UNAUDITED)
|
(Dollars in millions) |
|
2015 |
|
2014* |
||
|
Income from continuing operations before income taxes (1) |
|
$ |
7,230 |
|
$ |
8,535 |
|
|
|
|
|
|
|
|
|
Add: fixed charges, excluding capitalized interest |
|
|
724 |
|
|
768 |
|
|
|
|
|
|
|
|
|
Income as adjusted before income taxes |
|
$ |
7,953 |
|
$ |
9,303 |
|
|
|
|
|
|
|
|
|
Fixed charges: |
|
|
|
|
|
|
|
Interest expense |
|
$ |
499 |
|
$ |
519 |
|
Capitalized interest |
|
|
(3) |
|
|
3 |
|
Portion of rental expense representative of interest |
|
|
225 |
|
|
249 |
|
|
|
|
|
|
|
|
|
Total fixed charges |
|
$ |
721 |
|
$ |
771 |
|
|
|
|
|
|
|
|
|
Ratio of income from continuing operations to fixed charges |
|
|
11.03 |
|
|
12.07 |
|
|
|
|
|
|
|
|
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* Reclassified to reflect discontinued operations presentation. |
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(1) Income from continuing operations before income taxes excludes (a) amortization of capitalized interest, and (b) the |
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company's share in the income and losses of less-than-fifty percent-owned affiliates. |
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