Item 7.01. Regulation FD Disclosure.

On September 28, 2021, Kyndryl Holdings, Inc. publicly filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission (the "SEC") relating to IBM's separation of its managed infrastructure services business into a new public company. Exhibit 99.1 of this Form 8-K contains additional information related to the Form 10 that the company has posted on its Investor Relations website (www.ibm.com/investor/).

In an effort to provide investors with additional information regarding the company's results as determined by generally accepted accounting principles (GAAP), the company has disclosed in Exhibit 99.1 certain non-GAAP information, which management believes provides useful information to investors. The rationale for management's use of non-GAAP measures is included in Exhibit 99.2 to this Form 8-K. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in Exhibit 99.3 to this Form 8-K.

These materials may contain forward-looking statements under the Private Securities Litigation Reform Act of 1995, which statements involve numerous factors that could cause actual results to differ materially. Additional information about those factors is contained in IBM's filings with the SEC, available from the SEC, IBM's web site or IBM's Investor Relations.

The information in this Item 7.01, including Exhibit 99.1, is being furnished with the Commission and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are being furnished as part of this report:




Exhibit No.                    Description of Exhibit
99.1            Investor Relations Article, dated September 28, 2021
99.2            Non-GAAP Financial Information
99.3            Non-GAAP Reconciliations



The following exhibit is being filed as part of this report:




Exhibit No.                           Description of Exhibit
104            Cover Page Interactive Data File - the cover page interactive data
               file does not appear in the Interactive Data File because its XBRL
               tags are embedded within the Inline XBRL document



IBM's web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.





                                       2

© Edgar Online, source Glimpses