Kyndryl Holdings Inc 2025年度报告

Name of each exchangeon which registered New York Stock Exchange Securities registered pursuant to section 12(g) of the Act: None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) bythe registered public accounting firm that prepared or issued its audit report☒If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to§240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $5.3 billion, based onthe closing price on September 30, 2024, the last day of business of the registrant’s most recently completed second fiscal quarter,as reported on the New York Stock Exchange. The number of shares of the registrant’s common stock, par value $0.01 per share, outstanding at May 23, 2025 was229,944,566. DOCUMENTS INCORPORATED BY REFERENCE: Portions of the registrant’s Proxy Statement relating to theregistrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K. Index Explanatory Note3PART IIItem 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.4Item 8. Financial Statements and Supplementary Data18Item 9A. Controls and Procedures68PART IVItem 15. Exhibits, Financial Statement Schedules71SIGNATURES75 EXPLANATORY NOTE In connection with the review by Kyndryl Holdings, Inc. (“we,” “Kyndryl” or the “Company”), through theAudit Committee of its Board of Directors (the “Board”), of its cash management practices, related disclosures, theefficacy of the Company’s internal control over financial reporting, and certain other matters, the Company re-assessedthe effectiveness of its disclosure controls and procedures and internal control over financial reporting as of March 31,2025. The Company determined that there were material weaknesses in the Company’s internal control over financialreporting as of March 31, 2025 and that the Company’s disclosure controls and procedures and internal control overfinancial reporting were ineffective as of such date. As a result, the Company is filing this Amendment No. 1 (this “Amendment”) to the Company’s AnnualReport on Form 10-K for the fiscal year ended March 31, 2025, originally filed with the Securities and ExchangeCommission (“SEC”) on May 30, 2025 (the “Original Form 10-K”), to: ●include in Item 7. “Management’s Discussion and Analysis of Financial Condition and Results ofOperations” a new paragraph under the subheading “Financial Position—Cash Flow” regarding theCompany’s cash management practices in the context of the Company’s cash flows;●reflect in the report of PricewaterhouseCoopers LLP, the Company’s independent registered publicaccount