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Apple Inc (NMS: AAPL)
Company Financials
Income Statement
Exchange rate used is that of the Year End
reported date
As Reported Annual Income Statement
Report Date 09/26/2020 09/28/2019
Currency USD USD
Audit Status Not Qualified Not Qualified
Consolidated Yes Yes
Scale Thousands Thousands
Products 220,747,000$ 213,883,000$
Services 53,768,000$ 46,291,000$
Net sales 274,515,000$ 260,174,000$
Cost of sales - products 151,286,000$ 144,996,000$
Cost of sales - services 18,273,000$ 16,786,000$
Cost of sales 169,559,000$ 161,782,000$
Gross margin 104,956,000$ 98,392,000$
Research & development expense 18,752,000$ 16,217,000$
Selling, general & administrative expense 19,916,000$ 18,245,000$
Total operating expenses 38,668,000$ 34,462,000$
Operating income (loss) 66,288,000$ 63,930,000$
Interest & dividend income 3,763,000$ 4,961,000$
Interest expense 2,873,000$ 3,576,000$
Other income (expense), net (87,000)$ 422,000$
Other income/(expense), net 803,000$ 1,807,000$
Income (loss) before provision for income taxes 67,091,000$ 65,737,000$
Current federal income tax expense (benefit) 6,306,000$ 6,384,000$
Deferred federal income tax expense (benefit) (3,619,000)$ (2,939,000)$
Total federal income tax expense (benefit) 2,687,000$ 3,445,000$
Current state income tax expense (benefit) 455,000$ 475,000$
Deferred state income tax expense (benefit) 21,000$ (67,000)$
Total state income tax expense (benefit) 476,000$ 408,000$
Current foreign income tax expense (benefit) 3,134,000$ 3,962,000$
Deferred foreign income tax expense (benefit) 3,383,000$ 2,666,000$
Total foreign income tax expense (benefit) 6,517,000$ 6,628,000$
Provision for (benefit from) income taxes 9,680,000$ 10,481,000$
Net income (loss) 57,411,000$ 55,256,000$
Weighted average shares outstanding - basic 17,352,119 18,471,336
Weighted average shares outstanding - diluted 17,528,214 18,595,652
Year end shares outstanding 16,976,763 17,772,944
Net earnings (loss) per share - basic 3.31$ 2.99$
Net earnings (loss) per share - diluted 3.28$ 2.97$
Cash dividends declared per share 0.80$ 0.75$
Number of full time employees 147000 137000
Number of common stockholders 22797 23233
Foreign currency translation adjustments 88000 -408000
Balance Sheet
Exchange rate used is that of the Year End
reported date
As Reported Annual Balance Sheet
Report Date 09/26/2020 09/28/2019
Currency USD USD
Audit Status Not Qualified Not Qualified
Consolidated Yes Yes
Scale Thousands Thousands
Cash & cash equivalents 38,016,000$ 48,844,000$
Marketable securities 52,927,000$ 51,713,000$
Accounts receivable, net 16,120,000$ 22,926,000$
Inventories 4,061,000$ 4,106,000$
Vendor non-trade receivables 21,325,000$ 22,878,000$
Other current assets 11,264,000$ 12,352,000$
Total current assets 143,713,000$ 162,819,000$
Marketable securities 100,887,000$ 105,341,000$
Land & buildings 17,952,000$ 17,085,000$
Machinery, equipment, & internal-use software 75,291,000$ 69,797,000$
Leasehold improvements 10,283,000$ 9,075,000$
Gross property, plant & equipment 103,526,000$ 95,957,000$
Accumulated depreciation & amortization 66,760,000$ 58,579,000$
Property, plant & equipment, net 36,766,000$ 37,378,000$
Other non-current assets 42,522,000$ 32,978,000$
Total non-current assets 180,175,000$ 175,697,000$
Total assets 323,888,000$ 338,516,000$
Accounts payable 42,296,000$ 46,236,000$
Deferred revenue 6,643,000$ 5,522,000$
Other current liabilities 42,684,000$ 37,720,000$
Commercial paper 4,996,000$ 5,980,000$
Term debt 8,773,000$ 10,260,000$
Current portion of long-term debt - -
Total current liabilities 105,392,000$ 105,718,000$
Deferred revenue - -
Floating & fixed-rate notes 106,078,000$ 101,679,000$
Total debt 106,078,000$ 101,679,000$
Unamortized discount (314,000)$ (224,000)$
Hedge accounting fair value adjustments 1,676,000$ 612,000$
Less: current portion of long-term debt 8,773,000$ 10,260,000$
Term debt 98,667,000$ 91,807,000$
Long-term taxes payable 28,170,000$ 29,545,000$
Deferred tax liabilities - -
Other non-current liabilities 26,320,000$ 20,958,000$
Other non-current liabilities 54,490,000$ 50,503,000$
Total non-current liabilities 153,157,000$ 142,310,000$
Total liabilities 258,549,000$ 248,028,000$
Common stock 50,779,000$ 45,174,000$
Retained earnings 14,966,000$ 45,898,000$
Cumulative foreign currency translation (1,375,000)$ (1,463,000)$
Unrecognized gains (losses) on derivative instruments (877,000)$ 172,000$
Unrealized gains (losses) on marketable securities 1,846,000$ 707,000$
Accumulated other comprehensive income (loss) (406,000)$ (584,000)$
Total shareholders' equity 65,339,000$ 90,488,000$
Cash Flows
Exchange rate used is that of the Year End
reported date
As Reported Annual Cash Flow
Report Date 09/26/2020 09/28/2019
Currency USD USD
Audit Status Not Qualified Not Qualified
Consolidated Yes Yes
Scale Thousands Thousands
Net income (loss) 57,411,000$ 55,256,000$
Depreciation & amortization 11,056,000$ 12,547,000$
Share-based compensation expense 6,829,000$ 6,068,000$
Deferred income tax expense (benefit) (215,000)$ (340,000)$
Other adjustments (97,000)$ (652,000)$
Accounts receivable, net 6,917,000$ 245,000$
Inventories (127,000)$ (289,000)$
Vendor non-trade receivables 1,553,000$ 2,931,000$
Other current & non-current assets (9,588,000)$ 873,000$
Accounts payable (4,062,000)$ (1,923,000)$
Deferred revenue 2,081,000$ (625,000)$
Other current & non-current liabilities 8,916,000$ (4,700,000)$
Net cash flows from operating activities 80,674,000$ 69,391,000$
Purchases of marketable securities ########### (39,630,000)$
Proceeds from maturities of marketable securities 69,918,000$ 40,102,000$
Proceeds from sales of marketable securities 50,473,000$ 56,988,000$
Payments made in connection with business acquisitions, net(1,524,000)$ (624,000)$
Purchases of non-marketable securities (210,000)$ (1,001,000)$
Proceeds from non-marketable securities 92,000$ 1,634,000$
Payments for acquisition of property, plant & equipment(7,309,000)$ (10,495,000)$
Other cash flow from investing activities (791,000)$ (1,078,000)$
Net cash flows from investing activities (4,289,000)$ 45,896,000$
Proceeds from issuance of common stock 880,000$ 781,000$
Payments for taxes related to net share settlement of equity awards(3,634,000)$ (2,817,000)$
Payments for dividends & dividend equivalents (14,081,000)$ (14,119,000)$
Repurchases of common stock (72,358,000)$ (66,897,000)$
Proceeds from issuance of term debt, net 16,091,000$ 6,963,000$
Repayments of term debt (12,629,000)$ (8,805,000)$
Proceeds from/(repayments of) commercial paper, net (963,000)$ (5,977,000)$
Other cash flows from financing activities (126,000)$ (105,000)$
Net cash flows from financing activities (86,820,000)$ (90,976,000)$
Net increase (decrease) in cash, cash equivalents & restricted cash(10,435,000)$ 24,311,000$
Cash, cash equivalents & restricted cash, beginning balances50,224,000$ 25,913,000$
Cash, cash equivalents & restricted cash, ending balances39,789,000$ 50,224,000$
Increase (decrease) in cash & cash equivalents - -
Cash & cash equivalents, beginning of the year - -
Cash & cash equivalents, end of the year - -
Cash paid (received) for income taxes, net 9,501,000$ 15,263,000$
Cash paid for interest 3,002,000$ 3,423,000$
09/29/2018
USD
Not Qualified
Yes
Thousands
-
-
265,595,000$
-
-
163,756,000$
101,839,000$
14,236,000$
16,705,000$
30,941,000$
70,898,000$
5,686,000$
3,240,000$
(441,000)$
2,005,000$
72,903,000$
41,425,000$
(33,819,000)$
7,606,000$
551,000$
48,000$
599,000$
3,986,000$
1,181,000$
5,167,000$
13,372,000$
59,531,000$
19,821,508
20,000,436
19,019,944
3.00$
2.98$
0.68$
132000
23710
-525000
09/29/2018
USD
Not Qualified
Yes
Thousands
25,913,000$
40,388,000$
23,186,000$
3,956,000$
25,809,000$
12,087,000$
131,339,000$
170,799,000$
16,216,000$
65,982,000$
8,205,000$
90,403,000$
49,099,000$
41,304,000$
22,283,000$
234,386,000$
365,725,000$
55,888,000$
7,543,000$
32,687,000$
11,964,000$
-
8,784,000$
116,866,000$
2,797,000$
104,193,000$
104,193,000$
(218,000)$
(1,456,000)$
8,784,000$
93,735,000$
33,589,000$
426,000$
11,165,000$
45,180,000$
141,712,000$
258,578,000$
40,201,000$
70,400,000$
(1,055,000)$
810,000$
(3,209,000)$
(3,454,000)$
107,147,000$
09/29/2018
USD
Not Qualified
Yes
Thousands
59,531,000$
10,903,000$
5,340,000$
(32,590,000)$
(444,000)$
(5,322,000)$
828,000$
(8,010,000)$
(423,000)$
9,175,000$
(44,000)$
38,490,000$
77,434,000$
(71,356,000)$
55,881,000$
47,838,000$
(721,000)$
(1,871,000)$
353,000$
(13,313,000)$
(745,000)$
16,066,000$
669,000$
(2,527,000)$
(13,712,000)$
(72,738,000)$
6,969,000$
(6,500,000)$
(37,000)$
-
(87,876,000)$
-
-
-
5,624,000$
20,289,000$
25,913,000$
10,417,000$
3,022,000$