A computer which is configured to perform its operations in overlapped fashion. During each computer cycle the next instruction is fetched, the function designated by the previous instruction is executed, and values are stored that were computed with respect to the instruction previous to the one being executed. Thus a three-way overlap is effected. To minimize time penalties due to conditional branches and jumps, each instruction word includes two next instruction address fields, two function fields and two deferred action fields. The computer includes decision logic for providing binary decision signals for conditionally selecting one of the fields from each of the next address fields, the function fields and the deferred action fields thereby conditionally fetching the next instruction, conditionally selecting the function to be performed and conditionally storing values during the same cycle in accordance with the decision signals. Thus the computer has the capability of performing conditional branches each cycle, in an unbroken rhythm.