International Business Machines Corp.
Cash Flow Statement
| Line Item | FY2009 | FY2008 | FY2007 |
|---|---|---|---|
| Operating Activities | |||
| Net Income | $13.43B | $12.33B | $10.42B |
| Depreciation & Amortization | — | — | — |
| Depreciation | $3.77B | $4.14B | $4.04B |
| Amortization | $1.22B | $1.31B | $1.16B |
| Stock-Based Compensation | $558.0M | $659.0M | $713.0M |
| Net Cash from Operating Activities | $20.77B | $18.81B | $16.09B |
| Investing Activities | |||
| Capital Expenditures | $3.45B | $4.17B | $4.63B |
| Business Acquisitions | $1.19B | $6.31B | $1.01B |
| Net Cash from Investing Activities | $-6.73B | $-9.29B | — |
| Financing Activities | |||
| Dividends Paid | $2.86B | $2.59B | $2.15B |
| Stock Repurchases | $7.43B | $10.58B | $18.83B |
| Net Cash from Financing Activities | $-14.70B | $-11.83B | — |
| Net Change in Cash | $-558.0M | $-2.25B | $6.97B |
| Free Cash Flow | $17.33B | $14.64B | $11.46B |