IBM Credit LLC (IBM Credit or the company), a Delaware limited liability company, is an indirect, wholly owned subsidiary of International Business Machines Corporation (IBM). All of the limited liability company interests in IBM Credit are owned by IBM GF International Holdings LLC, a Delaware limited liability company (the Member), which is also an indirect, wholly owned subsidiary of IBM. IBM Credit is engaged in providing financing solutions for information technology (IT) hardware, software and services. IBM Credit was originally established as a subsidiary of IBM to provide financing solutions and remanufacturing and remarketing operations, in each case primarily for IBM products sold in the United States. Today, the company maintains a global organizational structure aligned with its operating segments, Client Financing and Commercial Financing. Client Financing primarily provides financing to end-user clients, which consist primarily of large, medium-sized and small corporations and other businesses, for their purchase of IBM products and services and original equipment manufacturers’ (OEM) IT products and services, in each case in order to finance clients’ total solution requirements. Client Financing also provides loans to IBM to finance the acquisition of IT assets used in client services contracts. The company believes the financing arrangements are predominantly for products and services that are critical to the end-user clients’ business operations. Commercial Financing provides working capital financing to suppliers, distributors, and resellers of IBM and OEM IT products and services. Beginning in the second quarter of 2019 and continuing throughout the year, the company wound down the portion of its Commercial Financing operations that provides short-term working capital solutions for OEM IT suppliers, distributors and resellers. The company had receivables of $0.6 billion and $8.5 billion relating to its OEM IT Commercial Financing operations for the periods ended December 31, 2019, and 2018, respectively. IBM Credit will continue to provide differentiated end-to-end financing solutions including commercial financing in support of IBM partner relationships.
Company profile
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Latest filings (excl ownership)
15-12G
Securities registration termination
26 Mar 21
10-K
2020 FY
Annual report
26 Feb 21
8-K
Other Events
24 Feb 21
8-K
Results of Operations and Financial Condition
25 Jan 21
8-K
Entry into a Material Definitive Agreement
31 Dec 20
10-Q
2020 Q3
Quarterly report
28 Oct 20
8-K
Results of Operations and Financial Condition
21 Oct 20
10-Q
2020 Q2
Quarterly report
30 Jul 20
8-K
Results of Operations and Financial Condition
22 Jul 20
8-K
Entry into a Material Definitive Agreement
2 Jul 20
Latest ownership filings
No filings
Financial summary
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Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 1.78 bn | 1.78 bn | 1.78 bn | 1.78 bn | 1.78 bn | 1.78 bn |
Cash burn (monthly) | (no burn) | (no burn) | (no burn) | (no burn) | 44.33 mm | 11.33 mm |
Cash used (since last report) | n/a | n/a | n/a | n/a | 1.73 bn | 441.13 mm |
Cash remaining | n/a | n/a | n/a | n/a | 55.40 mm | 1.34 bn |
Runway (months of cash) | n/a | n/a | n/a | n/a | 1.2 | 118.2 |