4 lines
21 KiB
JSON
4 lines
21 KiB
JSON
{
|
|
"text": "## UNITED STATES SECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549 ## FORM 10-Q\n\n<!-- image -->\n\n(Mark One)\n\n\u2612 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended April 1, 2023\n\nor\n\n\u2610 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from to .\n\nCommission File Number: 001-36743 ## Apple Inc.\n\n(Exact name of Registrant as specified in its charter)\n\nCalifornia\n\n94-2404110\n\n(State or other jurisdiction of incorporation or organization)\n\n(I.R.S. Employer Identification No.)\n\nOne Apple Park Way Cupertino, California\n\n95014\n\n(Address of principal executive offices)\n\n(Zip Code) ## (408) 996-1010\n\n(Registrant's telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each class\n\nTrading symbol(s)\n\nName of each exchange on which registered\n\nCommon Stock, $0.00001 par value per share\n\nAAPL\n\nThe Nasdaq Stock Market LLC\n\n1.375% Notes due 2024\n\n-\n\nThe Nasdaq Stock Market LLC\n\n0.000% Notes due 2025\n\n-\n\nThe Nasdaq Stock Market LLC\n\n0.875% Notes due 2025\n\n-\n\nThe Nasdaq Stock Market LLC\n\n1.625% Notes due 2026\n\n-\n\nThe Nasdaq Stock Market LLC\n\n2.000% Notes due 2027\n\n-\n\nThe Nasdaq Stock Market LLC\n\n1.375% Notes due 2029\n\n-\n\nThe Nasdaq Stock Market LLC\n\n3.050% Notes due 2029\n\n-\n\nThe Nasdaq Stock Market LLC\n\n0.500% Notes due 2031\n\n-\n\nThe Nasdaq Stock Market LLC\n\n3.600% Notes due 2042\n\n-\n\nThe Nasdaq Stock Market LLC\n\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\n\nYes \u2612\n\nNo \u2610\n\nIndicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (\u00a7232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).\n\nYes \u2612\n\nNo \u2610\n\nIndicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of 'large accelerated filer,' 'accelerated filer,' 'smaller reporting company,' and 'emerging growth company' in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer\n\n\u2612\n\nAccelerated filer\n\n\u2610\n\nNon-accelerated filer\n\n\u2610\n\nSmaller reporting company\n\n\u2610\n\n\u2610\n\nEmerging growth company\n\nIf an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. \u2610\n\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\n\nYes \u2610\n\nNo \u2612\n\n15,728,702,000 shares of common stock were issued and outstanding as of April 21, 2023. ## Apple Inc. ## Form 10-Q ## For the Fiscal Quarter Ended April 1, 2023 ## TABLE OF CONTENTS\n\n| | | Page |\n|----------|---------------------------------------------------------------------------------------|--------|\n| Part | I | |\n| Item 1. | Financial Statements | 1 |\n| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 14 |\n| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 19 |\n| Item 4. | Controls and Procedures | 19 |\n| | Part II | |\n| Item 1. | Legal Proceedings | 20 |\n| Item 1A. | Risk Factors | 20 |\n| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 20 |\n| Item 3. | Defaults Upon Senior Securities | 21 |\n| Item 4. | Mine Safety Disclosures | 21 |\n| Item 5. | Other Information | 21 |\n| Item 6. | Exhibits | 21 | ## PART I - FINANCIAL INFORMATION\n\n## Item 1. Financial Statements ## Apple Inc. ## CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares which are reflected in thousands and per share amounts)\n\n| | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |\n|----------------------------------------------|----------------------|----------------------|--------------------|--------------------|\n| | April 1, 2023 | March 26, 2022 | April 1, 2023 | March 26, 2022 |\n| Net sales: | | | | |\n| Products | $ 73,929 | $ 77,457 | $ 170,317 | $ 181,886 |\n| Services | 20,907 | 19,821 | 41,673 | 39,337 |\n| Total net sales | 94,836 | 97,278 | 211,990 | 221,223 |\n| Cost of sales: | | | | |\n| Products | 46,795 | 49,290 | 107,560 | 113,599 |\n| Services | 6,065 | 5,429 | 12,122 | 10,822 |\n| Total cost of sales | 52,860 | 54,719 | 119,682 | 124,421 |\n| Gross margin | 41,976 | 42,559 | 92,308 | 96,802 |\n| Operating expenses: | | | | |\n| Research and development | 7,457 | 6,387 | 15,166 | 12,693 |\n| Selling, general and administrative | 6,201 | 6,193 | 12,808 | 12,642 |\n| Total operating expenses | 13,658 | 12,580 | 27,974 | 25,335 |\n| Operating income | 28,318 | 29,979 | 64,334 | 71,467 |\n| Other income/(expense), net | 64 | 160 | (329) | (87) |\n| Income before provision for income taxes | 28,382 | 30,139 | 64,005 | 71,380 |\n| Provision for income taxes | 4,222 | 5,129 | 9,847 | 11,740 |\n| Net income | $ 24,160 | $ 25,010 | $ 54,158 | $ 59,640 |\n| Earnings per share: | | | | |\n| Basic | $ 1.53 | $ 1.54 | $ 3.42 | $ 3.65 |\n| Diluted | $ 1.52 | $ 1.52 | $ 3.41 | $ 3.62 |\n| Shares used in computing earnings per share: | | | | |\n| Basic | 15,787,154 | 16,278,802 | 15,839,939 | 16,335,263 |\n| Diluted | 15,847,050 | 16,403,316 | 15,901,384 | 16,461,304 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements. ## Apple Inc. ## CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)\n\n(In millions)\n\n| | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |\n|------------------------------------------------------------------------------|----------------------|----------------------|--------------------|--------------------|\n| | April 1, 2023 | March 26, 2022 | April 1, 2023 | March 26, 2022 |\n| Net income | $ 24,160 | $ 25,010 | $ 54,158 | $ 59,640 |\n| Other comprehensive income/(loss): | | | | |\n| Change in foreign currency translation, net of tax | (95) | (21) | (109) | (381) |\n| Change in unrealized gains/losses on derivative instruments, net of tax: | | | | |\n| Change in fair value of derivative instruments | (13) | 334 | (1,001) | 696 |\n| Adjustment for net (gains)/losses realized and included in net income | (191) | (301) | (1,957) | (208) |\n| Total change in unrealized gains/losses on derivative instruments | (204) | 33 | (2,958) | 488 |\n| Change in unrealized gains/losses on marketable debt securities, net of tax: | | | | |\n| Change in fair value of marketable debt securities | 1,403 | (5,633) | 2,303 | (6,809) |\n| Adjustment for net (gains)/losses realized and included in net income | 62 | 54 | 127 | 45 |\n| Total change in unrealized gains/losses on marketable debt securities | 1,465 | (5,579) | 2,430 | (6,764) |\n| Total other comprehensive income/(loss) | 1,166 | (5,567) | (637) | (6,657) |\n| Total comprehensive income | $ 25,326 | $ 19,443 | $ 53,521 | $ 52,983 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements. ## Apple Inc. ## CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)\n\n(In millions, except number of shares which are reflected in thousands and par value)\n\n| | April 1, 2023 | September 24, 2022 |\n|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------|---------------------------------------|\n| ASSETS: | ASSETS: | ASSETS: |\n| Current assets: | | |\n| Cash and cash equivalents | $ 24,687 | $ 23,646 |\n| Marketable securities | 31,185 | 24,658 |\n| Accounts receivable, net | 17,936 | 28,184 |\n| Inventories | 7,482 | 4,946 |\n| Vendor non-trade receivables | 17,963 | 32,748 |\n| Other current assets | 13,660 | 21,223 |\n| Total current assets | 112,913 | 135,405 |\n| Non-current assets: | | |\n| Marketable securities | 110,461 | 120,805 |\n| Property, plant and equipment, net | 43,398 | 42,117 |\n| Other non-current assets | 65,388 | 54,428 |\n| Total non-current assets | 219,247 | 217,350 |\n| Total assets | $ 332,160 | $ 352,755 |\n| LIABILITIES AND SHAREHOLDERS' EQUITY: | LIABILITIES AND SHAREHOLDERS' EQUITY: | LIABILITIES AND SHAREHOLDERS' EQUITY: |\n| Current liabilities: | | |\n| Accounts payable | $ 42,945 | $ 64,115 |\n| Other current liabilities | 56,425 | 60,845 |\n| Deferred revenue | 8,131 | 7,912 |\n| Commercial paper | 1,996 | 9,982 |\n| Term debt | 10,578 | 11,128 |\n| Total current liabilities | 120,075 | 153,982 |\n| Non-current liabilities: | | |\n| Term debt | 97,041 | 98,959 |\n| Other non-current liabilities | 52,886 | 49,142 |\n| Total non-current liabilities | 149,927 | 148,101 |\n| Total liabilities | 270,002 | 302,083 |\n| Commitments and contingencies | | |\n| Shareholders' equity: | | |\n| Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,723,406 and 15,943,425 shares issued and outstanding, respectively | 69,568 | 64,849 |\n| Retained earnings/(Accumulated deficit) | 4,336 | (3,068) |\n| Accumulated other comprehensive income/(loss) | (11,746) | (11,109) |\n| Total shareholders' equity | 62,158 | 50,672 |\n| Total liabilities and shareholders' equity | $ 332,160 | $ 352,755 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements. ## Apple Inc."
|
|
}
|