Company Name is Apple Inc.
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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 09/25/2021 09/26/2020 09/28/2019
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Qualified
Consolidated Yes Yes Yes
Scale Thousands Thousands Thousands
Products 2973,92,000$ 2207,47,000$ 2138,83,000$
Services 684,25,000$ 537,68,000$ 462,91,000$
Net sales 3658,17,000$ 2745,15,000$ 2601,74,000$
Cost of sales - products 1922,66,000$ 1512,86,000$ 1449,96,000$
Cost of sales - services 207,15,000$ 182,73,000$ 167,86,000$
Cost of sales 2129,81,000$ 1695,59,000$ 1617,82,000$
Gross margin 1528,36,000$ 1049,56,000$ 983,92,000$
Research & development expense 219,14,000$ 187,52,000$ 162,17,000$
Selling, general & administrative expense 219,73,000$ 199,16,000$ 182,45,000$
Total operating expenses 438,87,000$ 386,68,000$ 344,62,000$
Operating income (loss) 1089,49,000$ 662,88,000$ 639,30,000$
Interest & dividend income 28,43,000$ 37,63,000$ 49,61,000$
Interest expense 26,45,000$ 28,73,000$ 35,76,000$
Other income (expense), net 60,000$ -87,000 $ 4,22,000$
Other income/(expense), net 2,58,000$ 8,03,000$ 18,07,000$
Income (loss) before provision for income taxes1092,07,000$ 670,91,000$ 657,37,000$
Current federal income tax expense (benefit) 82,57,000$ 63,06,000$ 63,84,000$
Deferred federal income tax expense (benefit)-71,76,000 $ -36,19,000 $ -29,39,000 $
Total federal income tax expense (benefit) 10,81,000$ 26,87,000$ 34,45,000$
Current state income tax expense (benefit) 16,20,000$ 4,55,000$ 4,75,000$
Deferred state income tax expense (benefit) -3,38,000 $ 21,000$ -67,000 $
Total state income tax expense (benefit) 12,82,000$ 4,76,000$ 4,08,000$
Current foreign income tax expense (benefit) 94,24,000$ 31,34,000$ 39,62,000$
Deferred foreign income tax expense (benefit)27,40,000$ 33,83,000$ 26,66,000$
Total foreign income tax expense (benefit) 121,64,000$ 65,17,000$ 66,28,000$
Provision for (benefit from) income taxes 145,27,000$ 96,80,000$ 104,81,000$
Net income (loss) 946,80,000$ 574,11,000$ 552,56,000$
Weighted average shares outstanding - basic167,01,272 173,52,119 184,71,336
Weighted average shares outstanding - diluted168,64,919 175,28,214 185,95,652
Year end shares outstanding 164,26,786 169,76,763 177,72,944
Net earnings (loss) per share - basic 5.670$ 3.310$ 2.993$
Net earnings (loss) per share - diluted 5.610$ 3.280$ 2.973$
Cash dividends declared per share - 0.795$ 0.750$
Number of full time employees 154000 147000 137000
Number of common stockholders 23502 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 09/25/2021 09/26/2020 09/28/2019
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Qualified
Consolidated Yes Yes Yes
Scale Thousands Thousands Thousands
Cash & cash equivalents 349,40,000$ 380,16,000$ 488,44,000$
Marketable securities 276,99,000$ 529,27,000$ 517,13,000$
Accounts receivable, net 262,78,000$ 161,20,000$ 229,26,000$
Inventories 65,80,000$ 40,61,000$ 41,06,000$
Vendor non-trade receivables 252,28,000$ 213,25,000$ 228,78,000$
Other current assets 141,11,000$ 112,64,000$ 123,52,000$
Total current assets 1348,36,000$ 1437,13,000$ 1628,19,000$
Marketable securities 1278,77,000$ 1008,87,000$ 1053,41,000$
Land & buildings 200,41,000$ 179,52,000$ 170,85,000$
Machinery, equipment, & internal-use software786,59,000$ 752,91,000$ 697,97,000$
Leasehold improvements 110,23,000$ 102,83,000$ 90,75,000$
Gross property, plant & equipment 1097,23,000$ 1035,26,000$ 959,57,000$
Accumulated depreciation & amortization 702,83,000$ 667,60,000$ 585,79,000$
Property, plant & equipment, net 394,40,000$ 367,66,000$ 373,78,000$
Other non-current assets 488,49,000$ 425,22,000$ 329,78,000$
Total non-current assets 2161,66,000$ 1801,75,000$ 1756,97,000$
Total assets 3510,02,000$ 3238,88,000$ 3385,16,000$
Accounts payable 547,63,000$ 422,96,000$ 462,36,000$
Deferred revenue 76,12,000$ 66,43,000$ 55,22,000$
Other current liabilities 474,93,000$ 426,84,000$ 377,20,000$
Commercial paper 60,00,000$ 49,96,000$ 59,80,000$
Term debt 96,13,000$ 87,73,000$ 102,60,000$
Total current liabilities 1254,81,000$ 1053,92,000$ 1057,18,000$
Floating & fixed-rate notes 1180,63,000$ 1060,78,000$ 1016,79,000$
Total debt 1180,63,000$ 1060,78,000$ 1016,79,000$
Unamortized discount -3,80,000 $ -3,14,000 $ -2,24,000 $
Hedge accounting fair value adjustments 10,36,000$ 16,76,000$ 6,12,000$
Less: current portion of long-term debt 96,13,000$ 87,73,000$ 102,60,000$
Term debt 1091,06,000$ 986,67,000$ 918,07,000$
Long-term taxes payable 246,89,000$ 281,70,000$ 295,45,000$
Other non-current liabilities 286,36,000$ 263,20,000$ 209,58,000$
Other non-current liabilities 533,25,000$ 544,90,000$ 505,03,000$
Total non-current liabilities 1624,31,000$ 1531,57,000$ 1423,10,000$
Total liabilities 2879,12,000$ 2585,49,000$ 2480,28,000$
Common stock 573,65,000$ 507,79,000$ 451,74,000$
Retained earnings 55,62,000$ 149,66,000$ 458,98,000$
Cumulative foreign currency translation - -13,75,000 $ -14,63,000 $
Unrecognized gains (losses) on derivative instruments - -8,77,000 $ 1,72,000$
Unrealized gains (losses) on marketable securities - 18,46,000$ 7,07,000$
Accumulated other comprehensive income (loss)1,63,000$ -4,06,000 $ -5,84,000 $
Total shareholders' equity 630,90,000$ 653,39,000$ 904,88,000$
Cash Flows
Exchange rate used is that of the
Year End reported date
As Reported Annual Cash Flow
Report Date 09/25/2021 09/26/2020 09/28/2019
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Qualified
Consolidated Yes Yes Yes
Scale Thousands Thousands Thousands
Net income (loss) 946,80,000$ 574,11,000$ 552,56,000$
Depreciation & amortization 112,84,000$ 110,56,000$ 125,47,000$
Share-based compensation expense 79,06,000$ 68,29,000$ 60,68,000$
Deferred income tax expense (benefit) -47,74,000 $ -2,15,000 $ -3,40,000 $
Other adjustments -1,47,000 $ -97,000 $ -6,52,000 $
Accounts receivable, net -101,25,000 $ 69,17,000$ 2,45,000$
Inventories -26,42,000 $ -1,27,000 $ -2,89,000 $
Vendor non-trade receivables -39,03,000 $ 15,53,000$ 29,31,000$
Other current & non-current assets -80,42,000 $ -95,88,000 $ 8,73,000$
Accounts payable 123,26,000$ -40,62,000 $ -19,23,000 $
Deferred revenue 16,76,000$ 20,81,000$ -6,25,000 $
Other current & non-current liabilities 57,99,000$ 89,16,000$ -47,00,000 $
Net cash flows from operating activities 1040,38,000$ 806,74,000$ 693,91,000$
Purchases of marketable securities -1095,58,000 $ -1149,38,000 $ -396,30,000 $
Proceeds from maturities of marketable securities590,23,000$ 699,18,000$ 401,02,000$
Proceeds from sales of marketable securities474,60,000$ 504,73,000$ 569,88,000$
Payments made in connection with business acquisitions, net-33,000 $ -15,24,000 $ -6,24,000 $
Purchases of non-marketable securities -1,31,000 $ -2,10,000 $ -10,01,000 $
Proceeds from non-marketable securities 3,87,000$ 92,000$ 16,34,000$
Payments for acquisition of property, plant & equipment-110,85,000 $ -73,09,000 $ -104,95,000 $
Other cash flow from investing activities -6,08,000 $ -7,91,000 $ -10,78,000 $
Net cash flows from investing activities -145,45,000 $ -42,89,000 $ 458,96,000$
Proceeds from issuance of common stock 11,05,000$ 8,80,000$ 7,81,000$
Payments for taxes related to net share settlement of equity awards-65,56,000 $ -36,34,000 $ -28,17,000 $
Payments for dividends & dividend equivalents-144,67,000 $ -140,81,000 $ -141,19,000 $
Repurchases of common stock -859,71,000 $ -723,58,000 $ -668,97,000 $
Proceeds from issuance of term debt, net 203,93,000$ 160,91,000$ 69,63,000$
Repayments of term debt -87,50,000 $ -126,29,000 $ -88,05,000 $
Proceeds from/(repayments of) commercial paper, net10,22,000$ -9,63,000 $ -59,77,000 $
Other cash flows from financing activities -1,29,000 $ -1,26,000 $ -1,05,000 $
Net cash flows from financing activities -933,53,000 $ -868,20,000 $ -909,76,000 $
Net increase (decrease) in cash, cash equivalents & restricted cash-38,60,000 $ -104,35,000 $ 243,11,000$
Cash, cash equivalents & restricted cash, beginning balances397,89,000$ 502,24,000$ 259,13,000$
Cash, cash equivalents & restricted cash, ending balances359,29,000$ 397,89,000$ 502,24,000$
Cash paid (received) for income taxes, net 253,85,000$ 95,01,000$ 152,63,000$
Cash paid for interest 26,87,000$ 30,02,000$ 34,23,000$
