INTERNATIONAL BUSINESS MACHINES CORPORATION financials

IBM CIK 0000051143

Source: EDGAR filings · raw companyfacts JSON · Built 2026-04-25T10:06:35Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 12.10B 12.40B 12.69B 9.09B 10.73B 15.58B
Working Capital -1.71B 1.34B -1.21B -2.39B -4.08B -704.00M
Net Debt 51.02B 44.42B 46.87B 46.12B 48.47B 52.95B
Gross Margin 58.19% 56.65% 55.45% 54.00% 54.90% 55.94%
Net Margin 15.69% 9.60% 12.13% 2.71% 10.01% 10.13%
Return on Equity (ROE) 32.45% 22.06% 33.29% 7.47% 30.38% 27.14%
Return on Assets (ROA) 6.97% 4.39% 5.55% 1.29% 4.35% 3.58%
Current Ratio 0.9557 1.0404 0.9644 0.9242 0.8786 0.9823
Debt-to-Equity 1.9789 2.1374 2.6599 2.461 2.916 3.2108
Effective Tax Rate -2.34% -3.76% 13.53% -54.15% 2.56% -52.88%
Cash Conversion Ratio 1.2454 2.2323 1.857 6.3667 2.2281 3.2553
Accruals Ratio -0.0171 -0.0541 -0.0475 -0.0691 -0.0534 -0.0808
SBC % of Revenue 2.54% 2.09% 1.83% 1.63% 1.71% 1.70%
CapEx Coverage 12.0926 12.8292 11.1896 7.7526 6.2056 6.9507
Free Cash Flow Per Share $12.76 $13.23 $13.76 $9.96 $11.87 $17.38

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 26.5184 34.1882 20.0921 78.2722 21.0488 19.3169
P/FCF 23.22 16.6183 11.8875 14.1412 11.2646 6.9258
FCF Yield 4.31% 6.02% 8.41% 7.07% 8.88% 14.44%
P/S 4.1095 3.2449 2.4192 2.109 2.093 2.0364
P/B 8.5008 7.4569 6.6414 5.8175 6.3508 5.4555

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenues 67.53B 62.75B 61.86B 60.53B 57.35B 55.18B
Cost of Revenue 28.24B 27.20B 27.56B 27.84B 25.86B 24.31B
Gross Profit 39.30B 35.55B 34.30B 32.69B 31.49B 30.86B
Research and Development Expense 8.32B 7.48B 6.78B 6.57B 6.49B 6.26B
Selling, General and Administrative Expense 20.12B 19.69B 19.00B 18.61B 18.75B 20.56B
Income Tax Expense (Benefit) -242.00M -218.00M 1.18B -626.00M 124.00M -1.36B
Net Income (Loss) Attributable to Parent 10.59B 6.02B 7.50B 1.64B 5.74B 5.59B
Earnings Per Share, Basic $11.36 $6.53 $8.23 $1.82 $6.41 $6.28
Weighted Average Number of Shares Outstanding, Basic 932.29M 921.77M 911.21M 902.66M 895.99M 890.35M
Earnings Per Share, Diluted $11.17 $6.43 $8.14 $1.80 $6.35 $6.23
Weighted Average Number of Shares Outstanding, Diluted 948.68M 937.16M 922.07M 912.27M 904.64M 896.56M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 13.59B 13.95B 13.07B 7.89B 6.65B 13.19B
Assets, Current 36.94B 34.48B 32.91B 29.12B 29.54B 39.16B
Assets 151.88B 137.18B 135.24B 127.24B 132.00B 155.97B
Liabilities, Current 38.66B 33.14B 34.12B 31.50B 33.62B 39.87B
Long-term Debt, Excluding Current Maturities 54.84B 49.88B 50.12B 46.19B 44.92B 54.22B
Liabilities 119.14B 109.78B 112.63B 105.22B 113.00B 135.24B
Stockholders' Equity Attributable to Parent 32.65B 27.31B 22.53B 21.94B 18.90B 20.60B
Common Stock, Shares, Outstanding 936.95M 926.29M 915.01M 906.09M 898.07M 892.65M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 13.19B 13.45B 13.93B 10.44B 12.80B 18.20B
Payments to Acquire Property, Plant, and Equipment 1.09B 1.05B 1.25B 1.35B 2.06B 2.62B
Net Cash Provided by (Used in) Investing Activities -10.30B -4.94B -7.07B -4.20B -5.97B -3.03B
Net Cash Provided by (Used in) Financing Activities -3.83B -7.08B -1.77B -4.96B -13.35B -9.72B

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

Income Statement

35 concepts 3 units
Unit US$ · 26 concepts
Label Value Period
Interest Costs Incurred 585.00M 2026-01-01 → 2026-03-31
Interest Income, Other 152.00M 2026-01-01 → 2026-03-31
Lease Income 221.00M 2026-01-01 → 2026-03-31
Interest Expense 473.00M 2026-01-01 → 2026-03-31
Operating Lease, Lease Income 13.00M 2026-01-01 → 2026-03-31
Sales-type Lease, Revenue 170.00M 2026-01-01 → 2026-03-31
Revenues 15.92B 2026-01-01 → 2026-03-31
Cost of Goods Sold, Sales-type Lease 49.00M 2026-01-01 → 2026-03-31
Debt and Equity Securities, Realized Gain (Loss) 9.00M 2026-01-01 → 2026-03-31
Cost of Revenue 6.97B 2026-01-01 → 2026-03-31
Gross Profit 8.95B 2026-01-01 → 2026-03-31
Research and Development Expense 2.17B 2026-01-01 → 2026-03-31
Amortization of Intangible Assets 719.00M 2026-01-01 → 2026-03-31
Restructuring Charges 336.00M 2026-01-01 → 2026-03-31
Goodwill, Impairment Loss 0 2026-01-01 → 2026-03-31
Selling, General and Administrative Expense 5.09B 2026-01-01 → 2026-03-31
Sales-type Lease, Selling Profit (Loss) 122.00M 2026-01-01 → 2026-03-31
Gain (Loss) on Derivative Instruments, Net, Pretax -423.00M 2026-01-01 → 2026-03-31
Foreign Currency Transaction Gain (Loss), before Tax 328.00M 2026-01-01 → 2026-03-31
Other Nonoperating Income (Expense) 31.00M 2026-01-01 → 2026-03-31
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1.39B 2026-01-01 → 2026-03-31
Income Tax Expense (Benefit) 172.00M 2026-01-01 → 2026-03-31
Net Income (Loss) Attributable to Parent 1.22B 2026-01-01 → 2026-03-31
Net Income (Loss) Available to Common Stockholders, Basic 1.22B 2026-01-01 → 2026-03-31
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 1.22B 2026-01-01 → 2026-03-31
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent 0 2026-01-01 → 2026-03-31
Unit shares · 2 concepts
Label Value Period
Weighted Average Number of Shares Outstanding, Basic 938.53M 2026-01-01 → 2026-03-31
Weighted Average Number of Shares Outstanding, Diluted 952.13M 2026-01-01 → 2026-03-31

Comprehensive Income

12 concepts 1 unit
Unit US$ · 12 concepts
Label Value Period
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Parent 136.00M 2026-01-01 → 2026-03-31
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax 1.00M 2026-01-01 → 2026-03-31
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0 2026-01-01 → 2026-03-31
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax 2.00M 2026-01-01 → 2026-03-31
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax -198.00M 2026-01-01 → 2026-03-31
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 9.00M 2026-01-01 → 2026-03-31
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Tax, after Reclassification Adjustment, Attributable to Parent -209.00M 2026-01-01 → 2026-03-31
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent 0 2026-01-01 → 2026-03-31
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent 512.00M 2026-01-01 → 2026-03-31
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent 213.00M 2026-01-01 → 2026-03-31
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 299.00M 2026-01-01 → 2026-03-31
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 1.51B 2026-01-01 → 2026-03-31

Balance Sheet

51 concepts 3 units
Unit US$ · 47 concepts
Label Value Period
Cash and Cash Equivalents, at Carrying Value 10.82B as of 2026-03-31
Restricted Cash 45.00M as of 2026-03-31
Net Investment in Lease 4.19B as of 2026-03-31
Accounts Receivable, Allowance for Credit Loss, Current 102.00M as of 2026-03-31
Accounts Receivable, after Allowance for Credit Loss, Current 6.49B as of 2026-03-31
Financing Receivable, Allowance for Credit Loss, Current 100.00M as of 2026-03-31
DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent 964.00M as of 2026-03-31
Inventory, Net 1.48B as of 2026-03-31
Contract with Customer, Asset, after Allowance for Credit Loss, Current 551.00M as of 2026-03-31
Capitalized Contract Cost, Net, Current 1.16B as of 2026-03-31
Accounts Receivable, Allowance for Credit Loss 102.00M as of 2026-03-31
Accounts and Financing Receivables, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance 743.00M as of 2026-03-31
Assets, Current 31.91B as of 2026-03-31
Operating Lease, Right-of-Use Asset 3.22B as of 2026-03-31
Financing Receivable, Allowance for Credit Loss, Noncurrent 27.00M as of 2026-03-31
Financing Receivable, after Allowance for Credit Loss, Noncurrent 7.01B as of 2026-03-31
Long-term Debt and Lease Obligation, Including Current Maturities 65.26B as of 2026-03-31
Goodwill 74.71B as of 2026-03-31
Finite-Lived Intangible Assets, Gross 26.01B as of 2026-03-31
Finite-Lived Intangible Assets, Accumulated Amortization 11.38B as of 2026-03-31
Finite-Lived Intangible Assets, Net 14.62B as of 2026-03-31
Capitalized Contract Cost, Net, Noncurrent 831.00M as of 2026-03-31
Investments and Other Noncurrent Assets 2.01B as of 2026-03-31
Deferred Income Tax Assets, Net 8.55B as of 2026-03-31
Assets for Plan Benefits, Defined Benefit Plan 7.58B as of 2026-03-31
Assets 156.23B as of 2026-03-31
Accounts Payable, Current 4.04B as of 2026-03-31
Employee-related Liabilities, Current 3.94B as of 2026-03-31
Taxes Payable, Current 2.05B as of 2026-03-31
Deferred Revenue, Current 17.03B as of 2026-03-31
Short-term Debt 8.65B as of 2026-03-31
Long-term Debt and Lease Obligation, Current 7.55B as of 2026-03-31
Liabilities, Current 40.10B as of 2026-03-31
Long-term Debt, Excluding Current Maturities 57.71B as of 2026-03-31
Long-term Debt and Lease Obligation 57.71B as of 2026-03-31
Deferred Revenue, Noncurrent 4.20B as of 2026-03-31
Liability, Defined Benefit Plan, Noncurrent 8.76B as of 2026-03-31
Other Liabilities, Noncurrent 9.77B as of 2026-03-31
Operating Lease, Liability, Noncurrent 2.64B as of 2026-03-31
Liabilities 123.17B as of 2026-03-31
Treasury Stock, Common, Value 170.87B as of 2026-03-31
Accumulated Other Comprehensive Income (Loss), Net of Tax -15.41B as of 2026-03-31
Retained Earnings (Accumulated Deficit) 155.33B as of 2026-03-31
Stockholders' Equity Attributable to Parent 32.97B as of 2026-03-31
Stockholders' Equity Attributable to Noncontrolling Interest 81.00M as of 2026-03-31
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 33.06B as of 2026-03-31
Liabilities and Equity 156.23B as of 2026-03-31
Unit shares · 3 concepts
Label Value Period
Common Stock, Shares Authorized 4.69B as of 2026-03-31
Common Stock, Shares, Issued 2.29B as of 2026-03-31
Treasury Stock, Common, Shares 1.35B as of 2026-03-31
Unit US$ / share · 1 concept
Label Value Period
Common Stock, Par or Stated Value Per Share $0.20 as of 2026-03-31

Cash Flow Statement

23 concepts 1 unit
Unit US$ · 23 concepts
Label Value Period
Depreciation 555.00M 2026-01-01 → 2026-03-31
Operating Lease, Right-of-Use Asset, Amortization Expense 200.00M 2026-01-01 → 2026-03-31
Share-based Payment Arrangement, Noncash Expense 506.00M 2026-01-01 → 2026-03-31
Increase (Decrease) in Operating Capital -2.19B 2026-01-01 → 2026-03-31
Net Cash Provided by (Used in) Operating Activities 5.17B 2026-01-01 → 2026-03-31
Payments to Acquire Property, Plant, and Equipment 232.00M 2026-01-01 → 2026-03-31
Proceeds from Sale of Productive Assets 8.00M 2026-01-01 → 2026-03-31
Payments to Acquire Investments 1.61B 2026-01-01 → 2026-03-31
Proceeds from Sale, Maturity and Collection of Investments 1.97B 2026-01-01 → 2026-03-31
Payments to Acquire Businesses, Net of Cash Acquired 10.46B 2026-01-01 → 2026-03-31
Proceeds from Divestiture of Businesses, Net of Cash Divested 1.00M 2026-01-01 → 2026-03-31
Net Cash Provided by (Used in) Investing Activities -10.49B 2026-01-01 → 2026-03-31
Proceeds from (Repayments of) Short-term Debt, Maturing in Three Months or Less 0 2026-01-01 → 2026-03-31
Proceeds from Issuance of Long-term Debt and Capital Securities, Net 7.44B 2026-01-01 → 2026-03-31
Repayment of Long-term Debt, Long-term Lease Obligation, and Capital Security 2.93B 2026-01-01 → 2026-03-31
Proceeds from Issuance or Sale of Equity 178.00M 2026-01-01 → 2026-03-31
Payments of Ordinary Dividends, Common Stock 1.58B 2026-01-01 → 2026-03-31
Payment, Tax Withholding, Share-based Payment Arrangement 350.00M 2026-01-01 → 2026-03-31
Proceeds from (Payments for) Other Financing Activities -42.00M 2026-01-01 → 2026-03-31
Net Cash Provided by (Used in) Financing Activities 2.72B 2026-01-01 → 2026-03-31
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents -177.00M 2026-01-01 → 2026-03-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect -2.78B 2026-01-01 → 2026-03-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 10.86B as of 2026-03-31

Notes

65 concepts 2 units
Unit US$ · 63 concepts
Label Value Period
Cash and Cash Equivalents, Fair Value Disclosure 5.00B as of 2026-03-31
Operating Lease, Liability, Current 798.00M as of 2026-03-31
Prepaid Expense and Other Assets, Current 3.21B as of 2026-03-31
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, before Accumulated Depreciation and Amortization 17.77B as of 2026-03-31
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, Accumulated Depreciation and Amortization 11.98B as of 2026-03-31
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization 5.78B as of 2026-03-31
Share-based Payment Arrangement, Expense 506.00M 2026-01-01 → 2026-03-31
Derivative Asset, Not Offset, Policy Election Deduction 422.00M as of 2026-03-31
Share-based Payment Arrangement, Expense, after Tax 299.00M 2026-01-01 → 2026-03-31
Share-based Payment Arrangement, Expense, Tax Benefit 207.00M 2026-01-01 → 2026-03-31
Long-term Debt, Fair Value 54.37B as of 2026-03-31
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount 2.90B as of 2026-03-31
Inventory, Finished Goods, Net of Reserves 268.00M as of 2026-03-31
Contract with Customer, Liability, Revenue Recognized 4.90B 2026-01-01 → 2026-03-31
Inventory, Work in Process and Raw Materials, Net of Reserves 1.21B as of 2026-03-31
Derivative, Gain (Loss) on Derivative, Net -206.00M 2026-01-01 → 2026-03-31
Noncontrolling Interest, Period Increase (Decrease) -11.00M 2026-01-01 → 2026-03-31
Derivative, Excluded Component, Gain (Loss), Recognized in Earnings -10.00M 2026-01-01 → 2026-03-31
Dividends, Common Stock, Cash 1.58B 2026-01-01 → 2026-03-31
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss) -24.00M 2026-01-01 → 2026-03-31
Common Stocks, Including Additional Paid in Capital 63.94B as of 2026-03-31
Finite-Lived Intangible Assets, Period Increase (Decrease) 3.23B 2026-01-01 → 2026-03-31
Finite-Lived Intangible Asset, Expected Amortization, Year One 3.05B as of 2026-03-31
Finite-Lived Intangible Asset, Expected Amortization, Year Two 2.55B as of 2026-03-31
Finite-Lived Intangible Asset, Expected Amortization, Year Three 1.69B as of 2026-03-31
Finite-Lived Intangible Asset, Expected Amortization, Year Four 1.24B as of 2026-03-31
Revenue, Remaining Performance Obligation, Amount 69.00B as of 2026-03-31
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year 2.42B as of 2026-03-31
Net Income (Loss) Available to Common Stockholders, Diluted 1.22B 2026-01-01 → 2026-03-31
Derivative Liability, Not Offset, Policy Election Deduction 422.00M as of 2026-03-31
Standard Product Warranty Accrual 93.00M as of 2026-03-31
Standard Product Warranty Accrual, Increase for Warranties Issued 19.00M 2026-01-01 → 2026-03-31
Standard Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties 0 2026-01-01 → 2026-03-31
Standard Product Warranty Accrual, Decrease for Payments 22.00M 2026-01-01 → 2026-03-31
Goodwill, Acquired During Period 7.22B 2026-01-01 → 2026-03-31
Goodwill, Written off Related to Sale of Business Unit 0 2026-01-01 → 2026-03-31
Goodwill, Foreign Currency Translation Gain (Loss) -217.00M 2026-01-01 → 2026-03-31
Goodwill, Purchase Accounting Adjustments -17.00M 2026-01-01 → 2026-03-31
Goodwill, Impaired, Accumulated Impairment Loss 0 as of 2026-03-31
Accounts Receivable, Allowance for Credit Loss, Writeoff 3.00M 2026-01-01 → 2026-03-31
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) 6.00M 2026-01-01 → 2026-03-31
Long-term Debt, Gross 66.34B as of 2026-03-31
Assets, Fair Value Disclosure 6.72B as of 2026-03-31
Financial and Nonfinancial Liabilities, Fair Value Disclosure 693.00M as of 2026-03-31
Sales-type and Direct Financing Leases, Interest Income 67.00M 2026-01-01 → 2026-03-31
Variable Lease, Income 20.00M 2026-01-01 → 2026-03-31
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent -311.00M 2026-01-01 → 2026-03-31
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge 29.00M 2026-01-01 → 2026-03-31
Net Investment in Lease, Allowance for Credit Loss 59.00M as of 2026-03-31
Finite-lived Intangible Assets Acquired 3.83B 2026-01-01 → 2026-03-31
Long-Term Debt, Maturity, Year One 6.72B as of 2026-03-31
Long-Term Debt, Maturity, Year Two 6.03B as of 2026-03-31
Long-Term Debt, Maturity, Year Three 5.59B as of 2026-03-31
Long-Term Debt, Maturity, Year Four 4.46B as of 2026-03-31
Long-Term Debt, Maturity, Remainder of Fiscal Year 3.53B as of 2026-03-31
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease) 0 2026-01-01 → 2026-03-31
Debt Instrument, Unamortized Discount 809.00M as of 2026-03-31
Debt Issuance Costs, Net 203.00M as of 2026-03-31
Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge 65.00M as of 2026-03-31
NetInvestmentInLeaseAfterAllowanceForCreditLoss 4.13B as of 2026-03-31
Allowance for Doubtful Other Receivables, Current 37.00M as of 2026-03-31
Other Receivables, Net, Current 1.24B as of 2026-03-31
Interest Costs Capitalized 1.00M 2026-01-01 → 2026-03-31

Other

2 concepts 2 units
Unit US$ · 1 concept
Label Value Period
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 618.00M 2026-01-01 → 2026-03-31
Unit shares · 1 concept
Label Value Period
Entity Common Stock, Shares Outstanding 939.89M as of 2026-03-31

Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (IBM CIK 0000051143), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.