IBM 2025年度报告

FORM 11-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______to Commission file number 1-2360 Full title of the plan and address of the plan, if different from that of the issuer named below: IBM 401(k) PlanOne New Orchard Road, M/D 261Armonk, New York 10504 B.Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: INTERNATIONAL BUSINESS MACHINES CORPORATION One New Orchard RoadArmonk, New York 10504 IBM 401(k) PLAN Table of Contents PageFinancial Statements and Schedules:Report of Independent Registered Public Accounting Firm3Financial Statements:Statements of Net Assets Available for Benefits at December 31, 2025 and 20244Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 20255Notes to Financial Statements6Supplemental Schedules*:Schedule G, Part I - Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectibleat and for the year ended December 31, 202518Schedule H, Line 4a - Schedule ofDelinquent Participant Contribution at and for theyear ended December31, 202519Schedule H, Line 4i - Schedule of Assets (Held at End of Year) at December 31, 202520Exhibit:Exhibit Index580* Other schedules required by Section 2520.103-10 of the Department of Labor Rules and Regulations for Reporting and Disclosures under the Employee Retirement Income Security Act of 1974 are omitted because they are not applicable. Report of Independent Registered Public Accounting Firm To the Administrator and Plan Participants of IBM 401(k) Plan Opinion on the Financial Statements We have audited the accompanying statements of net assets available for benefits of IBM 401(k) Plan (the “Plan”) as of December31,2025 and 2024 and the related statement of changes in net assets available for benefits for the year ended December31, 2025,including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements presentfairly, in all material respects, the net assets available for benefits of the Plan as of December31, 2025 and 2024, and the changes innet assets available for benefits for the year ended December31, 2025 in conformity with accounting principles generally accepted inthe United States of America. Basis for Opinion These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’sfinancial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting OversightBoard (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federalsecurities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require thatwe plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement,whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due toerror or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidenceregarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles usedand significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believethat our audits provide a reasonable basis for our opinion. Supplemental Information The supplemental Schedule G, Part I - Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible andSchedule H, line 4a - Schedule of Delinquent Participant Contributions at and for the year ended December31, 2025 and Schedule H,line 4i - Schedule of Assets (Held at End of Year) at December31, 2025 ("supplemental schedules") have been subjected to auditprocedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedules are theresponsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedules reconcile tothe financial statements or the underlying accounting and other records, as applicable, and performing procedures to test thecompleteness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplementalschedules, we evaluated whether the supplemental schedules, including their form and content, are presented in conformity with theDepartment of Labor’s Rules and Regulation