INTERNATIONAL BUSINESS MACHINES CORP FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits

Item 8.01. Other Events.

On September 7, 2022, International Business Machines Corporation ("IBM" or the
"Company") and State Street Global Advisors Trust Company, as independent
fiduciary of the IBM Personal Pension Plan (the "Plan"), entered into two
separate commitment agreements, one with The Prudential Insurance Company of
America ("Prudential") and one with Metropolitan Life Insurance Company
(collectively, the "Insurers") under which the Plan agreed to purchase
nonparticipating single premium group annuity contracts that will transfer to
the Insurers approximately $16 billion of the Plan's defined benefit pension
obligations related to certain pension benefits that began to be paid prior to
2016.

The purchase of the group annuity contracts closed on September 13, 2022. The
contracts cover approximately 100,000 IBM participants and beneficiaries (the
"Transferred Participants"). Under the group annuity contracts, each Insurer has
made an irrevocable commitment, and will be solely responsible, to pay 50% of
the pension benefits of each Transferred Participant that are due on and after
January 1, 2023. Prudential will be the lead administrator. The transaction will
result in no changes to the amount of benefits payable to the Transferred
Participants.

The purchase of the group annuity contracts was funded directly by assets of the
Plan and required no cash or asset contributions of the Company. As a result of
the transaction, the Company expects to recognize a one-time non-cash pre-tax
pension settlement charge of approximately $5.9 billion ($4.4 billion net of
tax) in the third quarter of 2022. The actual charge will depend on finalization
of the actuarial and other assumptions. The pre-tax charge was not included in
the GAAP forward-looking information released on July 18, 2022. This charge will
not impact the Company's third quarter or full year 2022 operating (non-GAAP)
profit or free cash flow.

Forward-Looking Statements

Certain statements contained in this Form 8-K may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 ("Reform Act"). Forward-looking statements are based on the company's
current assumptions regarding future business and financial performance. These
statements by their nature address matters that are uncertain to different
degrees. The company may also make forward-looking statements in other reports
filed with the Securities and Exchange Commission (SEC), in materials delivered
to stockholders and in press releases. In addition, the company's
representatives may from time to time make oral forward-looking statements.
Forward-looking statements provide current expectations of future events based
on certain assumptions and include any statement that does not directly relate
to any historical or current fact. Words such as "anticipates," "believes,"
"expects," "estimates," "intends," "plans," "projects," and similar expressions,
may identify such forward-looking statements. Any forward-looking statement in
this Form 8-K speaks only as of the date on which it is made. Except as required
by law, the company assumes no obligation to update or revise any
forward-looking statements.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits



Exhibit No.    Description
               Cover Page Interactive Data File (embedded within the Inline XBRL
104            document).