secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL BUSINESS MACHINES CORP (IBM)
CIK:        0000051143
Form:       8-K
Filed at:   2024-09-11T23:59:59+00:00
Accession:  0001104659-24-098942
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IBM transfers $6B pension obligations to Prudential; expects $2.7B pre-tax settlement charge
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- Transaction closed Sept 11, 2024; covers ~32,000 participants receiving benefits initiated before 2016.
- Non-cash pre-tax charge of ~$2.7B ($2.0B net of tax) in Q3 2024; not in prior GAAP guidance.
- No impact on Q3 or FY 2024 operating (non-GAAP) profit or free cash flow; funded from Plan assets, no cash from IBM.
- Prudential assumes irrevocable responsibility for benefit payments from Jan 1, 2025; benefit amounts unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51143/000110465924098942/0001104659-24-098942-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51143/000110465924098942/tm2423753d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-098942

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