International Business Machines Corporation announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenue of $22,059 million, income from continuing operations before income taxes of $4,460 million, income from continuing operations of $4,460 million or $4.59 per diluted share, net income of $4,463 million or $4.59 per diluted share, net cash from operating activities of $5,278 million compared to the total revenue of $24,113 million, income from continuing operations before income taxes of $7,094 million, income from continuing operations of $5,515 million or $5.54 per diluted share, net income of $5,484 million or $5.51 per diluted share, net cash from operating activities of $6,059 million for the same quarter a year ago. Capital expenditures, net were $1,016 million compared to $976 million a year ago. Free cash flow was $6,072 million compared to $6,588 million a year ago. For the quarter, on non-GAAP basis, the company reported pre-tax income from continuing operations of $5,516 million, income from continuing operations of $4,707 million or $4.84 per diluted share compared to the pre-tax income from continuing operations of $7,398 million, income from continuing operations of $5,785 million or $5.81 per diluted share for the same quarter a year ago.

For the year, the company reported total revenue of $81,741 million, income from continuing operations before income taxes of $15,945 million, income from continuing operations of $13,364 million or $13.60 per diluted share, net income of $13,190 million or $13.42 per diluted share, net cash from operating activities of $17,008 million compared to the total revenue of $92,793 million, income from continuing operations before income taxes of $19,986 million, income from continuing operations of $15,751 million or $15.59 per diluted share, net income of $12,022 million or $11.90 per diluted share, net cash from operating activities of $16,868 million for the previous year. Capital expenditures, net were $3,780 million compared to $3,779 million a year ago. Free cash flow was $13,075 million compared to $12,372 million a year ago. For the year, on non-GAAP basis, the company reported pre-tax income from continuing operations of $17,697 million, income from continuing operations of $14,659 million or $14.92 per diluted share compared to the pre-tax income from continuing operations of $21,142 million, income from continuing operations of $16,702 million or $16.53 per diluted share for the same period a year ago.

For the year 2016, the company expects currency to impact pretax profit growth in 2016 by about $1.3 billion with nearly 3/4 of that coming from a year-to-year reduction in cash flow hedging gains. The company expects operating EPS of at least $13.50. This reflects an impact from currency of over $1 of EPS, which is about a 7.5-point impact to the growth rate. Free cash flow will follow profit performance, and the company continue to see free cash flow realization in the 90s.