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Financing Receivables
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usdPerShare
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USD
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http://www.xbrl.org/2003/instance
shares
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0
2
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=Content-Type content="text/html; charset=utf-8">
<META content="MSHTML 6.00.2900.3492" name=GENERATOR></HEAD>
<BODY>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" face="Times New Roman" size=2>5.
<U>Financing Receivables</U>: </FONT></B><FONT style="FONT-SIZE: 10pt"
size=2>The following table presents financing receivables, net of allowances for
doubtful accounts, including residual values.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0
cellPadding=0 width="100%" border=0>
<TBODY>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=1></FONT></B> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=1></FONT></B> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 8pt" face="Times New Roman" size=1>At
June 30,</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=1></FONT></B> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 8pt" face="Times New Roman" size=1>At
December 31,</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=1></FONT></B> </P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 70%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 8pt" face="Times New Roman"
size=1>(Dollars in millions)</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=1></FONT></B> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 8pt" face="Times New Roman"
size=1>2009</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=1></FONT></B> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 8pt" face="Times New Roman"
size=1>2008</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=1></FONT></B> </P></TD></TR>
<TR>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 70%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none"
vAlign=bottom width="70%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" face="Times New Roman"
size=2>Current:</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=2></FONT></B> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=2></FONT></B> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=2></FONT></B> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=2></FONT></B> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 1pt" face="Times New Roman"
size=2></FONT></B> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Net investment in
sales-type and direct financing leases</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.3%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10.7%; PADDING-TOP: 0in"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>4,064</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.3%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10.7%; PADDING-TOP: 0in"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>4,226</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Commercial financing
receivables</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>3,904</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>5,781</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Client loan
receivables</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>4,492</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>4,861</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Installment payment
receivables</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>656</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>608</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="1%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Total</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10.7%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>13,116</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10.7%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>15,477</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><B><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" face="Times New Roman"
size=2>Noncurrent:</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 1pt" face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 1pt" face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Net investment in
sales-type and direct financing leases</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.3%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10.7%; PADDING-TOP: 0in"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>5,396</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.3%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 10.7%; PADDING-TOP: 0in"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>5,938</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Commercial financing
receivables</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>72</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>94</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Client loan
receivables</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>4,323</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12%; PADDING-TOP: 0in"
vAlign=bottom width="12%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>4,718</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Installment payment
receivables</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>405</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=bottom width="12%" bgColor=#cceeff colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>433</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%" bgColor=#cceeff>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR>
<TR>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 70%; PADDING-TOP: 0in"
vAlign=bottom width="70%">
<P style="MARGIN: 0in 0in 0pt 10pt; TEXT-INDENT: -10pt"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Total</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10.7%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>10,197</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.5%; PADDING-TOP: 0in"
vAlign=bottom width="2%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>$</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 10.7%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double"
vAlign=bottom width="10%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>11,183</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1%; PADDING-TOP: 0in"
vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt"
face="Times New Roman" size=2></FONT> </P></TD></TR></TBODY></TABLE>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.25in"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>Net investment in
sales-type and direct financing leases is for leases that relate principally to
the company’s equipment and are for terms ranging from two to seven years. Net
investment in sales-type and direct financing leases includes unguaranteed
residual values of $881 million and $916 million at June 30, 2009 and
December 31, 2008, respectively, and is reflected net of unearned income of
$987 million and $1,049 million and of allowance for doubtful accounts of $201
million and $217 million at those dates, respectively.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>Commercial financing receivables relate primarily
to inventory and accounts receivable financing for dealers and remarketers of
IBM and non-IBM products. Payment terms for inventory and accounts receivable
financing generally range from 30 to 90 days.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 16pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2>Client loan receivables relate to loans that are
provided by Global Financing primarily to the company’s clients to finance the
purchase of the company’s software and services. Separate contractual
relationships on these financing arrangements are for terms ranging from two to
seven years. Each financing contract is priced independently at competitive
market rates. The company has a history of enforcing the terms of these separate
financing agreements.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.25in"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>The company utilizes
certain of its financing receivables as collateral for non-recourse borrowings.
Financing receivables pledged as collateral for borrowings were $238 million and
$373 million at June 30, 2009 and December 31, 2008,
respectively.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.25in"><FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2>The company did not have
any financing receivables held for sale as of June 30, 2009 and
December 31, 2008.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt"
face="Times New Roman" size=2></FONT> </P></BODY></HTML>
5.
Financing Receivables: The following table presents financing receivables, net of allowances for
doubtful accounts, including residual
false
false
|
No definition available.
No authoritative reference available.
false
false
1
2
false
UnKnown
UnKnown
UnKnown
false
true