Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities: Refer to page 150 of IBM's 2018 Annual Report to Stockholders, which is incorporated herein by reference solely as it relates to this item. IBM common stock is listed on the New York Stock Exchange and the Chicago Stock Exchange under the symbol "IBM." There were 395,480 common stockholders of record at February 8, 2019. The following table provides information relating to the company's repurchase of common stock for the fourth quarter of 2018. (1) On October 31, 2017, the Board of Directors authorized $3.0 billion in funds for use in the company's common stock repurchase program. On October 30, 2018, the Board of Directors authorized an additional $4.0 billion in funds for use in such program. In each case, the company stated that it would repurchase shares on the open market or in private transactions depending on market conditions. The common stock repurchase program does not have an expiration date. This table does not include shares tendered to satisfy the exercise price in connection with cashless exercises of employee stock options or shares tendered to satisfy tax withholding obligations in connection with employee equity awards. Refer to pages 147 and 148 of IBM's 2018 Annual Report to Stockholders, which are incorporated herein by reference. Refer to pages 18 through 67 of IBM's 2018 Annual Report to Stockholders, which are incorporated herein by reference. Refer to the section titled "Market Risk" on pages 66 and 67 of IBM's 2018 Annual Report to Stockholders, which is incorporated herein by reference. Item 7A. Quantitative and Qualitative Disclosures About Market Risk:  Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations:  Item 6. Selected Financial Data:  Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program(1) October 1, 2018— October 31, 2018 3,418,912 $ 126.67 3,418,912 $ 4,965,019,933  November 1, 2018— November 30, 2018 9,325,327 $ 120.38 9,325,327 $ 3,842,453,469  December 1, 2018— December 31, 2018 4,222,961 $ 119.26 4,222,961 $ 3,338,843,455  Total 16,967,200 $ 121.37 16,967,200 19 PART II 