diff --git "a/keyword/FinQABench/corpus.jsonl" "b/keyword/FinQABench/corpus.jsonl" new file mode 100644--- /dev/null +++ "b/keyword/FinQABench/corpus.jsonl" @@ -0,0 +1,92 @@ +{"_id": "d4aa0660c", "title": "", "text": "Apple Inc.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In millions, except number of shares which are reflected in thousands and per share amounts)\nYears ended\nSeptember 24,\n2022September 25,\n2021September 26,\n2020\nNet sales:\n Products $ 316,199 $ 297,392 $ 220,747 \n Services 78,129 68,425 53,768 \nTotal net sales 394,328 365,817 274,515 \nCost of sales:\n Products 201,471 192,266 151,286 \n Services 22,075 20,715 18,273 \nTotal cost of sales 223,546 212,981 169,559 \nGross margin 170,782 152,836 104,956 \nOperating expenses:\nResearch and development 26,251 21,914 18,752 \nSelling, general and administrative 25,094 21,973 19,916 \nTotal operating expenses 51,345 43,887 38,668 \nOperating income 119,437 108,949 66,288 \nOther income/(expense), net (334) 258 803 \nIncome before provision for income taxes 119,103 109,207 67,091 \nProvision for income taxes 19,300 14,527 9,680 \nNet income $ 99,803 $ 94,680 $ 57,411 \nEarnings per share:\nBasic $ 6.15 $ 5.67 $ 3.31 \nDiluted $ 6.11 $ 5.61 $ 3.28 \nShares used in computing earnings per share:\nBasic 16,215,963 16,701,272 17,352,119 \nDiluted 16,325,819 16,864,919 17,528,214 \nSee accompanying Notes to Consolidated Financial Statements.\nApple Inc. | 2022 Form 10-K | 29"} +{"_id": "d4aa04834", "title": "", "text": " to \ncover all losses or all types of claims that may arise.\nThe Company is subject to complex and changing laws and regulations worldwide, which exposes the Company to \npotential liabilities, increased costs and other adverse effects on the Company\u2019s business.\nThe Company\u2019s global operations are subject to complex and changing laws and regulations on subjects, including antitrust; \nprivacy, data security and data localization; consumer protection; advertising, sales, billing and e-commerce; financial services \nand technology; product liability; intellectual property ownership and infringement; digital platforms; internet , telecommunications, \nand mobile communications; media, television, film and digital content; availability of third-party software applications and \nservices; labor and employment; anticorruption; import, export and trade; foreign exchange controls and cash repatriation \nrestrictions; anti\u2013money laundering; foreign ownership and investment; tax; and environmental, health and safety, including \n"} +{"_id": "d4aa01288", "title": "", "text": "The Company\u2019s operations are also subject to the risks of industrial accidents at its suppliers and contract manufacturers. While \nthe Company\u2019s suppliers are required to maintain safe working environments and operations, an industrial accident could occur \nand could result in serious injuries or loss of life, disruption to the Company\u2019s business, and harm to the Company\u2019s reputation. \nMajor public health issues, including pandemics such as the COVID-19 pandemic, have adversely affected, and could in the \nfuture materially adversely affect, the Company due to their impact on the global economy and demand for consumer products; \nthe imposition of protective public safety measures, such as stringent employee travel restrictions and limitations on freight \nservices and the movement of products between regions; and disruptions in the Company\u2019s supply chain and sales and \ndistribution channels, resulting in interruptions of the supply of current products and delays in production ramps of new products.\n"} +{"_id": "d4aa0a270", "title": "", "text": " such election by written consent, other than to fill a vacancy created by \nremoval, requires the consent of a majority of the outstanding shares entitled to vote thereon.\nAn amendment of the Bylaws or the Articles may be adopted by the vote of the majority of the outstanding \nshares entitled to vote. Any amendment of the Bylaws specifying or changing a fixed number of directors or the \nmaximum or minimum number or changing from a fixed to a variable board or vice versa may only be adopted by the \nshareholders; provided, however, that an amendment of the Bylaws or the Articles reducing the fixed number or the \nminimum number of directors to less than five cannot be adopted if the votes cast against its adoption are equal to \nmore than 16 2/3% of the outstanding shares entitled to vote.Exhibit 4.1"} +{"_id": "d4aa09b4a", "title": "", "text": "rant, dated as of August 20, 2020, including \nforms of global notes representing the 0.550% Notes due 2025, 1.25% Notes \ndue 2030, 2.400% Notes due 2050 and 2.550% Notes due 2060.8-K 4.1 8/20/20\n4.25 Officer\u2019s Certificate of the Registrant, dated as of\u00a0 February 8, 2021, including \nforms of global notes representing the\u00a00.700% Notes due 2026, 1.200% Notes \ndue 2028,\u00a01.650% Notes due 2031,\u00a02.375% Notes due 2041, 2.650% Notes \ndue 2051 and 2.800% Notes due 2061.8-K 4.1 2/8/21\n4.26 Officer\u2019s Certificate of the Registrant, dated as of August 5, 2021, including forms \nof global notes representing the"} +{"_id": "d4aa00266", "title": "", "text": " of consumers and businesses. Many of \nthe Company\u2019s competitors seek to compete primarily through aggressive pricing and very low cost structures, and by imitating \nthe Company\u2019s products and infringing on its intellectual property.\nThe Company\u2019s ability to compete successfully depends heavily on ensuring the continuing and timely introduction of innovative \nnew products, services and technologies to the marketplace. The Company designs and develops nearly the entire solution for \nits products, including the hardware, operating system, numerous software applications and related services. Principal \ncompetitive factors important to the Company include price, product and service features (including security features), relative \nprice and performance, product and service quality and reliability, design innovation, a strong third-party software and \naccessories ecosystem, marketing and distribution capability, service and support, and corporate reputation.\nApple Inc. | 2022 Form 10-K | 2"} +{"_id": "d4aa0dc22", "title": "", "text": "\u2022modify any of the provisions in the applicable Indenture regarding the waiver of past defaults and the \nwaiver of certain covenants by the holders of Notes except to increase any percentage vote required or \nto provide that certain other provisions of the applicable Indenture cannot be modified or waived without \nthe consent of the holder of each Notes affected thereby;\n\u2022make any change that adversely affects the right to convert or exchange any debt security or decreases \nthe conversion or exchange rate or increases the conversion price of any convertible or exchangeable \ndebt security, unless such decrease or increase is permitted by the terms of the debt securities; or\n\u2022modify any of the above provisions.\nWe and the trustee may, without the consent of any holders, modify or amend the terms of the Indentures \nand any series of Notes with respect to the following:\n\u2022to add to our covenants for the benefit of holders of all or any series of the Notes"} +{"_id": "d4aa017ba", "title": "", "text": " compete, current extensive patent coverage and the rapid rate of issuance of new patents, the \nCompany\u2019s products and services can unknowingly infringe existing patents or intellectual property rights of others. From time to \ntime, the Company has been notified that it may be infringing certain patents or other intellectual property rights of third parties. \nBased on experience and industry practice, the Company believes licenses to such third-party intellectual property can generally \nbe obtained on commercially reasonable terms. However, there can be no assurance the necessary licenses can be obtained on \ncommercially reasonable terms or at all. Failure to obtain the right to use third-party intellectual property, or to use such \nintellectual property on commercially reasonable terms, can preclude the Company from selling certain products or services, or \notherwise have a material adverse impact on the Company\u2019s business, results of operations and financial condition.\nApple Inc. | 2022 Form 10-K | 9"} +{"_id": "d4aa09cb2", "title": "", "text": "\nPlan effective as of September 26, 2017.10-K 10.20 9/30/17\n10.6* Form of Restricted Stock Unit Award Agreement under Non-Employee Director \nStock Plan effective as of February 13, 2018.10-Q 10.2 3/31/18\n10.7* Form of Restricted Stock Unit Award Agreement under 2014 Employee Stock \nPlan effective as of August 21, 2018.10-K 10.17 9/29/18\n10.8* Form of Performance Award Agreement under 2014 Employee Stock Plan \neffective as of August 21, 2018.10-K 10.18 9/29/18\n10.9* Form of Restricted Stock Unit Award Agreement under 2014 Employee Stock \nPlan effective as of September 29, 2019.10-K 10.15 9/28/19\n10.10* Form of Performance Award Agreement under 2014 Employee Stock Plan \neffective as of September 29,"} +{"_id": "d4aa071ba", "title": "", "text": "\ufffdOI&E\u201d) on a straight-line basis over the life of the hedge. Changes in the fair value of amounts excluded from the \nassessment of hedge effectiveness are recognized in OCI.\nGains and losses arising from changes in the fair values of derivative instruments that are not designated as accounting hedges \nare recognized in the Consolidated Statements of Operations line items to which the derivative instruments relate.\nThe Company presents derivative assets and liabilities at their gross fair values in the Consolidated Balance Sheets. The \nCompany classifies cash flows related to derivative instruments as operating activities in the Consolidated Statements of Cash \nFlows.\nFair Value Measurements\nThe fair values of the Company\u2019s money market funds and certain marketable equity securities are based on quoted prices in \nactive markets for identical assets. The valuation techniques used to measure the fair value of the Company\u2019s debt instruments \nand all other financial instruments, which generally"} +{"_id": "d4aa0a0ea", "title": "", "text": " Directors, the \nChair of the Board of Directors or the Chief Executive Officer or (ii) one or more holders of shares \nentitled to cast not less than ten percent (10%) of the votes on the record date established pursuant to \nthe Company\u2019s Bylaws, provided that the shareholder(s) satisfy requirements in the Bylaws.\nIn addition, as a California corporation, the Company is subject to the provisions of Section 1203 of the \nCalifornia General Corporation Law, which requires it to provide a fairness opinion to its shareholders in connection \nwith their consideration of any proposed \u201cinterested party\u201d reorganization transaction.\nListing\nThe Company\u2019s Common Stock is listed on The Nasdaq Stock Market LLC under the trading symbol \n\u201cAAPL.\u201d\n2"} +{"_id": "d4aa197ca", "title": "", "text": "by words such as \u201cfuture,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cpredicts,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201ccan,\u201d \u201cmay,\u201d and similar terms. Forward-looking statements are not guarantees of future performance and the Company\u2019s actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in Part I, Item 1A of this Form 10-K under the heading \u201cRisk Factors.\u201d The Company assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. Unless otherwise stated, all information presented herein is based on the Company\u2019s fiscal calendar, and references to particular years, quarters, months or periods refer to the Company\u2019s fiscal years ended in September and the associated quarters, months and periods of those fiscal years. Each of the terms the \u201cCompany\u201d and \u201cApple\u201d as used herein refers collectively to Apple Inc. and its wholly owned subsidiaries, unless otherwise stated. PART I Item 1. Business Company Background The Company designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The Company\u2019s fiscal year is the 52- or 53-week period that ends on the last Saturday of September. Products iPhone iPhone is the Company\u2019s line of smartphones based on its iOS operating system. The iPhone line includes iPhone 14 Pro, iPhone 14, iPhone 13, iPhone SE , iPhone 12 and iPhone 11. Mac Mac is the Company\u2019s line of personal computers based on its macOS operating system. The Mac line includes laptops MacBook Air and MacBook Pro , as well as desktops iMac , Mac mini , Mac Studio\u2122 and Mac Pro . iPad iPad is the Company\u2019s line of multipurpose tablets based on its iPadOS operating system. The iPad line includes iPad Pro , iPad Air , iPad and iPad mini . Wearables, Home and Accessories Wearables, Home and Accessories includes: \u2022 AirPods , the Company\u2019s wireless headphones, including AirPods, AirPods Pro and AirPods Max\u2122; \u2022 Apple TV , the Company\u2019s media streaming and gaming device based on its tvOS operating system, including Apple TV 4K and Apple TV HD; \u2022 Apple Watch , the Company\u2019s line of smartwatches based on its watchOS operating system, including Apple Watch Ultra\u2122, Apple Watch Series 8 and Apple Watch SE ; and \u2022 Beats products, HomePod mini and accessories. \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae \u00ae Apple Inc. | 2022 Form 10-K | 1 Services Advertising The Company\u2019s advertising services include various third-party licensing arrangements and the Company\u2019s own advertising platforms. AppleCare The Company offers a portfolio of fee-based service and support products under the AppleCare brand. The offerings provide priority access to Apple technical support, access to the global Apple authorized service network for repair and replacement services, and in many cases additional coverage for instances of accidental damage and\\/or theft and loss, depending on the country and type of product. Cloud Services The Company\u2019s cloud services store and keep customers\u2019 content up-to-date and available across multiple Apple devices and Windows personal computers. Digital Content The Company operates various platforms, including the App Store , that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. The Company also offers digital content through subscription-based services, including Apple Arcade , a game subscription service; Apple Fitness+ , a personalized fitness service; Apple Music , which offers users a curated listening experience with on-demand radio stations; Apple News+ , a subscription news and magazine service; and Apple TV+ , which offers exclusive original content and live sports. Payment Services The Company offers payment services, including Apple Card , a co-branded credit card, and Apple Pay , a cashless payment service. Markets and Distribution The Company\u2019s customers are primarily in the consumer, small and mid-sized business, education, enterprise and government markets. The Company sells its products and resells third-party products in most of its major markets directly to consumers, small and mid-sized businesses, and education, enterprise and government customers through its retail and online stores and its direct sales force. The Company also employs a variety of indirect distribution channels, such as third-party cellular network carriers, wholesalers, retailers and resellers. During 2022, the Company\u2019s net sales through its direct and indirect distribution channels accounted for 38% and 62%, respectively, of total net sales. Competition The markets for the Company\u2019s products and services are highly competitive, and are characterized by aggressive price competition and resulting downward pressure on gross margins, frequent introduction of new products and services, short product life cycles, evolving industry standards, continual improvement in product price and performance characteristics, rapid adoption of technological advancements by competitors, and price sensitivity on the part of consumers and businesses. Many of the Company\u2019s competitors seek to compete primarily through aggressive pricing and very low cost structures, and by imitating the Company\u2019s products and infringing on its intellectual property. The Company\u2019s ability to compete successfully depends heavily on ensuring the continuing and timely introduction of innovative new products, services and technologies to the marketplace. The Company designs and develops nearly the entire solution for its products, including the hardware, operating system, numerous software applications and related services. Principal competitive factors important to the Company include price, product and service features (including security features), relative price and performance, product and service quality and reliability, design innovation, a strong third-party software and accessories ecosystem, marketing and distribution capability, service and support, and corporate reputation. \u00ae \u00ae \u00ae SM \u00ae \u00ae \u00ae \u00ae \u00ae Apple Inc. | 2022 Form 10-K | 2 The Company is focused on expanding its market opportunities related to smartphones, personal computers, tablets, wearables and accessories, and services. The Company faces substantial competition in these markets from companies that have significant technical, marketing, distribution and other resources, as well as established hardware, software, and service offerings with large customer bases. In addition, some of the Company\u2019s competitors have broader product lines, lower-priced products and a larger installed base of active devices. Competition has been particularly intense as competitors have aggressively cut prices and lowered product margins. Certain competitors have the resources, experience or cost structures to provide products at little or no profit or even at a loss. The Company\u2019s services compete with business models that provide content to users for free and use illegitimate means to obtain third-party digital content and applications. The Company faces significant competition as competitors imitate the Company\u2019s product features and applications within their products, or collaborate to offer integrated solutions that are more competitive than those they currently offer. Supply of Components Although most components essential to the Company\u2019s business are generally available from multiple sources, certain components are currently obtained from single or limited sources. The Company also competes for various components with other participants in the markets for smartphones, personal computers, tablets, wearables and accessories. Therefore, many components used by the Company, including those that are available from multiple sources, are at times subject to industry-wide shortage and significant commodity pricing fluctuations. The Company uses some custom components that are not commonly used by its competitors, and new products introduced by the Company often utilize custom components available from only one source. When a component or product uses new technologies, initial capacity constraints may exist until the suppliers\u2019 yields have matured or their manufacturing capacities have increased. The continued availability of these components at acceptable prices, or at all, may be affected if suppliers decide to concentrate on the production of common components instead of components customized to meet the Company\u2019s requirements. The Company has entered into agreements for the supply of many components; however, there can be no guarantee that the Company will be able to extend or renew these agreements on similar terms, or at all. Substantially all of the Company\u2019s hardware products are manufactured by outsourcing partners that are located primarily in Asia, with some Mac computers manufactured in the U.S. and Ireland. Research and Development Because the industries in which the Company competes are characterized by rapid technological advances, the Company\u2019s ability to compete successfully depends heavily upon its ability to ensure a continual and timely flow of competitive products, services and technologies to the marketplace. The Company continues to develop new technologies to enhance existing products and services, and to expand the range of its offerings through research"} +{"_id": "d4aa08c36", "title": "", "text": " China were the only countries that accounted for more than 10% of the Company\u2019s net sales in 2022 , 2021 and \n2020 . Net sales for 2022 , 2021 and 2020 and long-lived assets as of September\u00a024, 2022 and September\u00a025, 2021 were as \nfollows (in millions):\n2022 2021 2020\nNet sales:\nU.S. $ 147,859 $ 133,803 $ 109,197 \nChina (1) 74,200 68,366 40,308 \nOther countries 172,269 163,648 125,010 \nTotal net sales $ 394,328 $ 365,817 $ 274,515 \n2022 2021\nLong-lived assets:\nU.S. $ 31,119 $ 28,203 \nChina (1) 7,260 7,521 \nOther countries 3,738 3,7"} +{"_id": "d4aa113f4", "title": "", "text": "Exhibit 32.1\nCERTIFICATIONS OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER\nPURSUANT TO\n18 U.S.C. SECTION 1350,\nAS ADOPTED PURSUANT TO\nSECTION 906 OF THE SARBANES-OXLEY ACT OF 2002\nI, Timothy D. Cook, certify, as of the date hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the \nSarbanes-Oxley Act of 2002, that the Annual Report of Apple Inc. on Form 10-K for the fiscal year ended September\u00a024, 2022 \nfully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information \ncontained in such Form 10-K fairly presents in all material respects the financial condition and results of operations of Apple Inc. \nat the dates and for the periods indicated.\nDate: October\u00a027, 2022\nBy: /s/ Timothy D. Cook\nTimothy D. Cook\nChief Executive Officer\nI, Luca Maestri, certify, as of the date hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the \nSarbanes-Oxley Act of 2002, that the Annual Report of Apple Inc. on Form 10-K for the fiscal year ended September\u00a024, 2022 \nfully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information \ncontained in such Form 10-K fairly presents in all material respects the financial condition and results of operations of Apple Inc. \nat the dates and for the periods indicated.\nDate: October\u00a027, 2022\nBy: /s/ Luca Maestri\nLuca Maestri\nSenior Vice President,\nChief Financial Officer\nA signed original of this written statement required by Section 906 has been provided to Apple Inc. and will be retained by Apple \nInc. and furnished to the Securities and Exchange Commission or its staff upon request."} +{"_id": "d4aa067ba", "title": "", "text": "Apple Inc.\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME\n(In millions)\nYears ended\nSeptember 24,\n2022September 25,\n2021September 26,\n2020\nNet income $ 99,803 $ 94,680 $ 57,411 \nOther comprehensive income/(loss):\nChange in foreign currency translation, net of tax (1,511) 501 88 \nChange in unrealized gains/losses on derivative instruments, net of tax:\nChange in fair value of derivative instruments 3,212 32 79 \nAdjustment for net (gains)/losses realized and included in net \nincome (1,074) 1,003 (1,264) \nTotal change in unrealized gains/losses on derivative \ninstruments 2,138 1,035 (1,185) \nChange in unrealized gains/losses on marketable debt securities, net of \ntax:\nChange in fair value of marketable debt securities (12,104) (694) 1,202 \nAdjustment for net (gains)/losses realized and included in net \nincome 205 (273) (63) \nTotal change in unrealized gains/losses on marketable debt \nsecurities (11,899) (967) 1,139 \nTotal other comprehensive income/(loss) (11,272) 569 42 \nTotal comprehensive income $ 88,531 $ 95,249 $ 57,453 \nSee accompanying Notes to Consolidated Financial Statements.\nApple Inc. | 2022 Form 10-K | 30"} +{"_id": "d4aa005d6", "title": "", "text": "The Company experiences malicious attacks and other attempts to gain unauthorized access to its systems on a regular basis. \nThese attacks seek to compromise the confidentiality, integrity or availability of confidential information or disrupt normal \nbusiness operations, and could, among other things, impair the Company\u2019s ability to attract and retain customers for its products \nand services, impact the Company\u2019s stock price , materially damage commercial relationships, and expose the Company to \nlitigation or government investigations, which could result in penalties, fines or judgments against the Company. Globally, attacks \nare expected to continue accelerating in both frequency and sophistication with increasing use by actors of tools and techniques \nthat are designed to circumvent controls, avoid detection, and remove or obfuscate forensic evidence, all of which hinders the \nCompany\u2019s ability to identify, investigate and recover from incidents. In addition, attacks against the Company and its customers \ncan escalate during periods of severe diplomatic or armed conflict.\nAlthough malicious attacks perpetrated to gain access to confidential information, including personal information, affect many \ncompanies across various industries, the Company is at a relatively greater risk of being targeted because of its high profile and \nthe value of the confidential information it creates, owns, manages, stores and processes.\nThe Company has implemented systems and processes intended to secure its information technology systems and prevent \nunauthorized access to or loss of sensitive data, and mitigate the impact of unauthorized access, including through the use of \nencryption and authentication technologies. As with all companies, these security measures may not be sufficient for all \neventualities and may be vulnerable to hacking, ransomware attacks, employee error, malfeasance, system error, faulty \npassword management or other irregularities. For example, third parties can fraudulently induce the Company\u2019s or its vendors\u2019 \nemployees or customers into disclosing user names, passwords or other sensitive information, which can, in turn, be used for \nunauthorized access to the Company\u2019s or its vendors\u2019 systems and services. To help protect customers and the Company, the \nCompany deploys and makes available technologies like multifactor authentication, monitors its services and systems for \nunusual activity and may freeze accounts under suspicious circumstances, which, among other things, can result in the delay or \nloss of customer orders or impede customer access to the Company\u2019s products and services.\nWhile the Company maintains insurance coverage that is intended to address certain aspects of data security risks, such \ninsurance coverage may be insufficient to cover all losses or all types of claims that may arise.\nInvestment in new business strategies and acquisitions could disrupt the Company\u2019s ongoing business, present risks not \noriginally contemplated and materially adversely affect the Company\u2019s business, reputation, results of operations and \nfinancial condition.\nThe Company has invested,"} +{"_id": "d4aa05662", "title": "", "text": "356 35 % 19,593 \nTotal net sales $ 394,328 8 % $ 365,817 33 % $ 274,515 \nAmericas\nAmericas net sales increased during 2022 compared to 2021 due primarily to higher net sales of iPhone, Services and Mac.\nEurope\nEurope net sales increased during 2022 compared to 2021 due primarily to higher net sales of iPhone and Services. The \nweakness in foreign currencies relative to the U.S. dollar had a net unfavorable year-over-year impact on Europe net sales \nduring 2022 .\nGreater China\nGreater China net sales increased during 2022 compared to 2021 due primarily to higher net sales of iPhone and Services. The \nstrength of the renminbi relative to the U.S. dollar had a favorable year-over-year impact on Greater China net sales during 2022 .\nJapan\nJapan net sales decreased during 2022 compared to 2021 "} +{"_id": "d4aa05d24", "title": "", "text": "Other Income/(Expense), Net\nOther income/(expense), net (\u201cOI&E\u201d) for 2022 , 2021 and 2020 was as follows (dollars in millions):\n2022 Change 2021 Change 2020\nInterest and dividend income $ 2,825 $ 2,843 $ 3,763 \nInterest expense (2,931) (2,645) (2,873) \nOther income/(expense), net (228) 60 (87) \nTotal other income/(expense), net $ (334) (229) % $ 258 (68) % $ 803 \nThe decrease in OI&E during 2022 compared to 2021 was due primarily to higher realized losses on debt securities, unfavorable \nfair value adjustments on equity securities and higher interest expense, partially offset by higher foreign exchange gains.\nProvision for Income Taxes\nProvision for income"} +{"_id": "d4aa00978", "title": "", "text": "The Company continues to monitor the situation and take appropriate actions in accordance with the recommendations and \nrequirements of relevant authorities. The extent to which the COVID-19 pandemic may impact the Company\u2019s operational and \nfinancial performance remains uncertain and will depend on many factors outside the Company\u2019s control, including the timing, \nextent, trajectory and duration of the pandemic, the emergence of new variants, the development, availability, distribution and \neffectiveness of vaccines and treatments, the imposition of protective public safety measures, and the impact of the pandemic on \nthe global economy and demand for consumer products and services. Additional future impacts on the Company may include \nmaterial adverse effects on demand for the Company\u2019s products and services, the Company\u2019s supply chain and sales and \ndistribution channels, the Company\u2019s ability to execute its strategic plans, and the Company\u2019s profitability and cost structure.\nTo the"} +{"_id": "d4aa080e2", "title": "", "text": " fixed payments on the Company\u2019s operating \nleases were $1.9 billion , $1.7 billion and $1.5 billion for 2022 , 2021 and 2020 , respectively. Lease costs associated with variable \npayments on the Company\u2019s leases were $14.9 billion , $12.9 billion and $9.3 billion for 2022 , 2021 and 2020 , respectively.\nThe Company made $1.8 billion , $1.4 billion and $1.5 billion of fixed cash payments related to operating leases in 2022 , 2021 \nand 2020 , respectively. Noncash activities involving right-of-use (\u201cROU\u201d) assets obtained in exchange for lease liabilities were \n$2.8 billion for 2022 , $3.3 billion for 2021 and $10.5 billion for 2020 , including the impact of adopting the Financial Accounting \nStandards Board"} +{"_id": "d4aa04474", "title": "", "text": " claims that may arise.\nInvestment in new business strategies and acquisitions could disrupt the Company\u2019s ongoing business, present risks not \noriginally contemplated and materially adversely affect the Company\u2019s business, reputation, results of operations and \nfinancial condition.\nThe Company has invested, and in the future may invest, in new business strategies or acquisitions. Such endeavors may \ninvolve significant risks and uncertainties, including distraction of management from current operations, greater-than-expected \nliabilities and expenses, economic, political, legal and regulatory challenges associated with operating in new businesses, \nregions or countries, inadequate return on capital, potential impairment of tangible and intangible assets, and significant write-\noffs. Investment and acquisition transactions are exposed to additional risks, including failing to obtain required regulatory \napprovals on a timely basis or at all, or the imposition of onerous conditions that could delay or prevent the Company from \ncompleting a transaction or otherwise limit"} +{"_id": "d4aa05306", "title": "", "text": "\nPlans or \nProgramsApproximate \nDollar Value of\nShares That May \nYet Be Purchased\nUnder the Plans \nor Programs (1)\nJune 26, 2022 to July 30, 2022:\nOpen market and privately negotiated purchases 41,690 $ 145.91 41,690 \nJuly 31, 2022 to August 27, 2022:\nOpen market and privately negotiated purchases 54,669 $ 168.29 54,669 \nAugust 28, 2022 to September 24, 2022:\nOpen market and privately negotiated purchases 63,813 $ 155.59 63,813 \nTotal 160,172 $ 60,665 \n(1) As of September\u00a024, 2022 , the Company was authorized by the Board of Directors to purchase up to $405 billion of the \nCompany\u2019s common stock under a share repurchase program most recently announced on April 28, 2022 (the"} +{"_id": "d4aa0985c", "title": "", "text": ".100% Notes due 2062.8-K 4.1 8/8/22Incorporated by Reference\nExhibit \nNumber Exhibit Description Form ExhibitFiling Date/\nPeriod End \nDate\nApple Inc. | 2022 Form 10-K | 56"} +{"_id": "d4aa084de", "title": "", "text": " 2022.\n2014 Employee Stock Plan\nThe Apple Inc. 2014 Employee Stock Plan (the \u201c2014 Plan\u201d) is a shareholder-approved plan that provided for broad-based equity \ngrants to employees, including executive officers. The 2014 Plan permitted the granting of substantially the same types of equity \nawards with substantially the same terms as the 2022 Plan. The 2014 Plan also permitted the granting of cash bonus awards. In \nthe third quarter of 2022, the Company terminated the authority to grant new awards under the 2014 Plan.\nApple Inc. | 2022 Form 10-K | 46"} +{"_id": "d4aa00b94", "title": "", "text": "\u2019s operations. Such restrictions can \nbe announced with little or no advance notice and the Company may not be able to effectively mitigate all adverse impacts from \nsuch measures. If disputes and conflicts further escalate in the future, actions by governments in response could be significantly \nmore severe and restrictive and could materially adversely affect the Company\u2019s business. Political uncertainty surrounding trade \nand other international disputes could also have a negative effect on consumer confidence and spending, which could adversely \naffect the Company\u2019s business.\nMany of the Company\u2019s operations and facilities, as well as critical business operations of the Company\u2019s suppliers and contract \nmanufacturers, are in locations that are prone to earthquakes and other natural disasters. In addition, such operations and \nfacilities are subject to the risk of interruption by fire, power shortages, nuclear power plant accidents and other industrial \naccidents, terrorist attacks and other hostile acts, ransomware and other cybersecurity attacks, labor disputes, public health \nissues, including pandemics such as the COVID-19 pandemic, and other events beyond the Company\u2019s control. Global climate \nchange is resulting in certain types of natural disasters occurring more frequently or with more intense effects. Such events can \nmake it difficult or impossible for the Company to manufacture and deliver products to its customers, create delays and \ninefficiencies in the Company\u2019s supply and manufacturing chain, and result in slowdowns and outages to the Company\u2019s service \nofferings. Following an interruption to its business, the Company can require substantial recovery time, experience significant \nexpenditures to resume operations, and lose significant sales. Because the Company relies on single or limited sources for the \nsupply and manufacture of many critical components, a business interruption affecting such sources would exacerbate any \nnegative consequences to the Company.\nApple Inc. | 2022 Form 10-K | 6"} +{"_id": "d4aa05798", "title": "", "text": " of the fourth quarter of 2021.\nMac\nMac net sales increased during 2022 compared to 2021 due primarily to higher net sales of laptops.\niPad\niPad net sales decreased during 2022 compared to 2021 due primarily to lower net sales of iPad Pro.\nWearables, Home and Accessories\nWearables, Home and Accessories net sales increased during 2022 compared to 2021 due primarily to higher net sales of Apple \nWatch and AirPods.\nServices\nServices net sales increased during 2022 compared to 2021 due primarily to higher net sales from advertising, cloud services \nand the App Store.\nApple Inc. | 2022 Form 10-K | 21"} +{"_id": "d4aa10314", "title": "", "text": " 0.000% 2025 Notes, the 0.875% 2025 Notes, the 2026 \nNotes, the 2027 Notes, the 1.375% 2029 Notes and the 2031 Notes, the term \u201cU.S. government obligations\u201d shall \ninstead mean (x) any security that is (i) a direct obligation of the German government or (ii) an obligation of a person \ncontrolled or supervised by and acting as an agency or instrumentality of the German government the payment of \nwhich is fully and unconditionally guaranteed by the German government or the central bank of the German \ngovernment, which, in either case (x)(i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) \n13"} +{"_id": "d4aa04cc6", "title": "", "text": " increasing regulation, government investigations, legal actions and penalties. \nFrom time to time, the Company has made changes to its App Store, including actions taken in response to competition, market \nand legal conditions. The Company may make further business changes in the future. New legislative initiatives, such as the EU \nDigital Markets Act, or similar laws in other jurisdictions, could require further changes. These changes could include how and to \nwhat extent the Company charges developers for access to its platforms and manages distribution of apps outside of the App \nStore.\nThe Company is also currently subject to antitrust investigations in various jurisdictions around the world, which can result in \nlegal proceedings and claims against the Company that could, individually or in the aggregate, have a materially adverse impact \non the Company\u2019s business, results of operations and financial condition. For example, the Company is the subject of \ninvestigations in Europe and other jurisdictions relating to App Store terms and conditions. If such investigations result in adverse \nfindings against the Company, the Company could be exposed to significant fines and may be required to make changes to its \nApp Store business, all of which could materially adversely affect the Company\u2019s business, results of operations and financial \ncondition. The Company is also subject to litigation relating to the App Store, which has resulted in changes to the Company\u2019s \nbusiness practices, and may in the future result in further changes.\nFurther, the Company has commercial relationships with other companies in the technology industry that are or may become \nsubject to investigations and litigation that, if resolved against those other companies, could materially adversely affect the \nCompany\u2019s commercial relationships with those business partners and materially adversely affect the Company\u2019s business, \nresults of operations and financial condition. For example, the Company earns revenue from licensing arrangements with other \ncompanies to offer their search services on the Company\u2019s platforms and apps, and certain of these arrangements are currently \nsubject to government investigations and legal proceedings.\nApple Inc. | 2022 Form 10-K | 14"} +{"_id": "d4aa06f44", "title": "", "text": ", which generally occurs when the product is shipped. Revenue allocated to the \nproduct-related bundled services and unspecified software upgrade rights is deferred and recognized on a straight-line basis \nover the estimated period they are expected to be provided. Cost of sales related to delivered hardware and bundled software, \nincluding estimated warranty costs, are recognized at the time of sale. Costs incurred to provide product-related bundled \nservices and unspecified software upgrade rights are recognized as cost of sales as incurred.\nFor certain long-term service arrangements, the Company has performance obligations for services it has not yet delivered. For \nthese arrangements, the Company does not have a right to bill for the undelivered services. The Company has determined that \nany unbilled consideration relates entirely to the value of the undelivered services. Accordingly, the Company has not recognized \nrevenue, and does not disclose amounts, related to these undelivered services.\nApple Inc. | 2022 "} +{"_id": "d4aa07714", "title": "", "text": " other than quoted prices in active markets for identical assets \nand liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable \nor can be corroborated by observable market data for substantially the full term of the assets or liabilities.\n(3) As of September\u00a0 24, 2022 and September\u00a0 25, 2021 , total marketable securities included $12.7 billion and $17.9 billion , \nrespectively, that were restricted from general use, related to the State Aid Decision (refer to Note 5, \u201cIncome Taxes\u201d) and \nother agreements.\nApple Inc. | 2022 Form 10-K | 38"} +{"_id": "d4aa051b2", "title": "", "text": " Proceedings\nEpic Games\nEpic Games, Inc. (\u201cEpic\u201d) filed a lawsuit in the U.S. District Court for the Northern District of California (the \u201cNorthern California \nDistrict Court\u201d) against the Company alleging violations of federal and state antitrust laws and California\u2019s unfair competition law \nbased upon the Company\u2019s operation of its App Store. The Company filed a counterclaim for breach of contract. On September \n10, 2021, the Northern California District Court ruled in favor of the Company with respect to nine out of the ten counts included \nin Epic\u2019s claim, and in favor of the Company with respect to the Company\u2019s claims for breach of contract. The Northern California \nDistrict Court found that certain provisions of the Company\u2019s App Store Review Guidelines violate California\u2019s unfair competition \nlaw and issued an injunction. Epic appealed the decision. The Company filed a cross-appeal and has been granted a stay \npending the appeal.\nOther Legal Proceedings\nThe Company is subject to other legal proceedings and claims that have not been fully resolved and that have arisen in the \nordinary course of business. The Company settled certain matters during the fourth quarter of 2022 that did not individually or in \nthe aggregate have a material impact on the Company\u2019s financial condition or operating results. The outcome of litigation is \ninherently uncertain. If one or more legal matters were resolved against the Company in a reporting period for amounts above \nmanagement\u2019s expectations, the Company\u2019s financial condition and operating results for that reporting period could be materially \nadversely affected.\nItem 4. Mine Safety Disclosures\nNot applicable.\nApple Inc. | 2022 Form 10-K | 17"} +{"_id": "d4aa09f6e", "title": "", "text": "SIGNATURES\nPursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this \nreport to be signed on its behalf by the undersigned, thereunto duly authorized.\nDate: October\u00a027, 2022 Apple Inc.\nBy: /s/ Luca Maestri\nLuca Maestri\nSenior Vice President,\nChief Financial Officer\nPower of Attorney\nKNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints \nTimothy D. Cook and Luca Maestri, jointly and severally, his or her attorneys-in-fact, each with the power of substitution, for him \nor her in any and all capacities, to sign any amendments to this Annual Report on Form 10-K, and to file the same, with exhibits \nthereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and \nconfirming all that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.\nPursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons \non behalf of the Registrant and in the capacities and on the dates indicated:\nName Title Date\n/s/ Timothy D. CookChief Executive Officer and Director\n(Principal Executive Officer)October 27, 2022\nTIMOTHY D. COOK\n/s/ Luca MaestriSenior Vice President, Chief Financial Officer\n(Principal Financial Officer)October 27, 2022\nLUCA MAESTRI\n/s/ Chris KondoSenior Director of Corporate Accounting\n(Principal Accounting Officer)October 27, 2022\nCHRIS KONDO\n/s/ James A. Bell DirectorOctober 27, 2022\nJAMES A. BELL\n/s/ Al Gore DirectorOctober 27, 2022\nAL GORE\n/s/ Alex Gorsky DirectorOctober 27, 2022\nALEX GORSKY\n/s/ Andrea Jung DirectorOctober 27, 2022\nANDREA JUNG\n/s/ Arthur D. Levinson Director and Chair of the BoardOctober 27, 2022\nARTHUR D. LEVINSON\n/s/ Monica Lozano DirectorOctober 27, 2022\nMONICA LOZANO\n/s/ Ronald D. Sugar DirectorOctober 27, 2022\nRONALD D. SUGAR\n/s/ Susan L. Wagner DirectorOctober 27, 2022\nSUSAN L. WAGNER\nApple Inc. | 2022 Form 10-K | 58"} +{"_id": "d4aa110e8", "title": "", "text": "Exhibit 31.2\nCERTIFICATION\nI, Luca Maestri, certify that:\n1.I have reviewed this annual report on Form 10-K of Apple Inc.;\n2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact \nnecessary to make the statements made, in light of the circumstances under which such statements were made, not \nmisleading with respect to the period covered by this report;\n3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all \nmaterial respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods \npresented in this report;\n4.The Registrant\u2019s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and \nprocedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as \ndefined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:\n(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be \ndesigned under our supervision, to ensure that material information relating to the Registrant, including its \nconsolidated subsidiaries, is made known to us by others within those entities, particularly during the period in \nwhich this report is being prepared;\n(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting \nto be designed under our supervision, to provide reasonable assurance regarding the reliability of financial \nreporting and the preparation of financial statements for external purposes in accordance with generally \naccepted accounting principles;\n(c)Evaluated the effectiveness of the Registrant\u2019s disclosure controls and procedures and presented in this report \nour conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period \ncovered by this report based on such evaluation; and\n(d)Disclosed in this report any change in the Registrant\u2019s internal control over financial reporting that occurred \nduring the Registrant\u2019s most recent fiscal quarter (the Registrant\u2019s fourth fiscal quarter in the case of an annual \nreport) that has materially affected, or is reasonably likely to materially affect, the Registrant\u2019s internal control \nover financial reporting; and\n5.The Registrant\u2019s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over \nfinancial reporting, to the Registrant\u2019s auditors and the audit committee of the Registrant\u2019s board of directors (or persons \nperforming the equivalent functions"} +{"_id": "d4aa0a52c", "title": "", "text": " the maturity date of the 0.875% 2025 Notes), (iii)\u00a0with respect to the 1.375% 2029 Notes, February \n24, 2029 (three months prior to the maturity date of 1.375% 2029 Notes) and (iv) with respect to the 2031 Notes, \nAugust 15, 2031 (three months prior to the maturity of the 2031 Notes).\n7"} +{"_id": "d4aa09744", "title": "", "text": " reporting and the preparation of financial statements in \naccordance with GAAP. The Company\u2019s independent registered public accounting firm, Ernst & Young LLP, has issued an audit \nreport on the Company\u2019s internal control over financial reporting, which appears in Part II, Item 8 of this Form 10-K.\nChanges in Internal Control over Financial Reporting\nThere were no changes in the Company\u2019s internal control over financial reporting during the fourth quarter of 2022 , which were \nidentified in connection with management\u2019s evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under the \nExchange Act, that have materially affected, or are reasonably likely to materially affect, the Company\u2019s internal control over \nfinancial reporting.\nApple Inc. | 2022 Form 10-K | 53"} +{"_id": "d4aa0d92a", "title": "", "text": "(2) in the case of the 2013 Indenture, the holders of not less than 25% of the aggregate principal amount of \nthe outstanding debt securities of such series, and in the case of the 2018 Indenture, the holders of not \nless than 33% of the aggregate principal amount of the outstanding debt securities of such series have \nrequested the trustee to institute proceedings in respect of such event of default;\n(3) the trustee has been offered indemnity reasonably satisfactory to it against its costs, expenses and \nliabilities in complying with such request;\n(4) the trustee has failed to institute proceedings 60 days after the receipt of such notice, request and offer \nof indemnity; and\n(5) no direction inconsistent with such written request has been given for 60 days by the holders of a \nmajority in aggregate principal amount of the outstanding debt securities of such series.\nThe holders of a majority in aggregate principal amount of outstanding debt securities"} +{"_id": "d4aa06468", "title": "", "text": "PART IV\nItem 15. Exhibit and Financial Statement Schedules\n(a)Documents filed as part of this report\n(1)All financial statements\nIndex to Consolidated Financial Statements Page\nConsolidated Statements of Operations for the years ended September 24, 2022, September 25, 2021 and \nSeptember\u00a026, 2020 29\nConsolidated Statements of Comprehensive Income for the years ended September 24, 2022, September 25, \n2021 and September\u00a026, 2020 30\nConsolidated Balance Sheets as of September 24, 2022 and September 25, 2021 31\nConsolidated Statements of Shareholders\u2019 Equity for the years ended September 24, 2022, September 25, 2021 \nand September\u00a026, 2020 32\nConsolidated Statements of Cash Flows for the years ended September 24, 2022, September 25, 2021 and \nSeptember\u00a026, 2020 33\nNotes to Consolidated Financial Statements 34\nReports of Independent Registered Public Accounting Firm* 50\n"} +{"_id": "d4aa000e0", "title": "", "text": "\u00ae is the Company\u2019s line of smartphones based on its iOS operating system. The iPhone line includes iPhone 14 Pro, \niPhone 14, iPhone 13, iPhone SE\u00ae, iPhone 12 and iPhone 11.\nMac\nMac\u00ae is the Company\u2019s line of personal computers based on its macOS\u00ae operating system. The Mac line includes laptops \nMacBook Air\u00ae and MacBook Pro\u00ae, as well as desktops iMac\u00ae, Mac mini\u00ae, Mac Studio\u2122 and Mac Pro\u00ae.\niPad\niPad\u00ae is the Company\u2019s line of multipurpose tablets based on its iPadOS\u00ae operating system. The iPad line includes iPad Pro\u00ae, \niPad Air\u00ae, iPad and iPad mini\u00ae.\nWearables, Home and Accessories\nWearables, Home and Accessories includes:\n\u2022AirPods\u00ae, the Company\u2019s wireless headphones, including AirPods, AirPods Pro\u00ae and AirPods Max\u2122;\n\u2022Apple TV\u00ae, the Company\u2019s media streaming and gaming device based on its tvOS\u00ae operating system, including Apple \nTV 4K and Apple TV HD;\n\u2022Apple Watch\u00ae, the Company\u2019s line of smartwatches based on its watchOS\u00ae operating system, including Apple Watch \nUltra \u2122, Apple Watch Series 8 and Apple Watch SE\u00ae; and\n\u2022Beats\u00ae products, HomePod mini\u00ae and accessories.\nApple Inc. | 2022 Form 10-K | 1"} +{"_id": "d4aa0a66c", "title": "", "text": "\nWe issued \u20ac1,400,000,000 aggregate principal amount of the 2026 Notes on November 10, 2014. The \nmaturity date of the 2026 Notes is November 10, 2026, and interest at a rate of 1.625% per annum is paid annually \non November 10 of each year, beginning on November 10, 2015, and on the maturity date. As of October\u00a014, 2022 , \n\u20ac1,400,000,000 aggregate principal amount of the 2026 Notes was outstanding.\n3"} +{"_id": "d4aa1530a", "title": "", "text": "statements present fairly, in all material respects, the financial position of Apple Inc. at September 24, 2022 and September 25, 2021, and the results of its operations and its cash flows for each of the three years in the period ended September 24, 2022, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the \u201cPCAOB\u201d), Apple Inc.\u2019s internal control over financial reporting as of September 24, 2022, based on criteria established in Internal Control \u2013 Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated October 27, 2022 expressed an unqualified opinion thereon. Basis for Opinion These financial statements are the responsibility of Apple Inc.\u2019s management. Our responsibility is to express an opinion on Apple Inc.\u2019s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to Apple Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. Critical Audit Matter The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the account or disclosure to which it relates. Uncertain Tax Positions Description of the Matter As discussed in Note 5 to the financial statements, Apple Inc. is subject to taxation and files income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions. As of September 24, 2022, the total amount of gross unrecognized tax benefits was $16.8 billion, of which $8.0 billion, if recognized, would impact Apple Inc.\u2019s effective tax rate. In accounting for uncertain tax positions, Apple Inc. uses significant judgment in the interpretation and application of complex domestic and international tax laws. Auditing management\u2019s evaluation of whether an uncertain tax position is more likely than not to be sustained and the measurement of the benefit of various tax positions can be complex, involves significant judgment, and is based on interpretations of tax laws and legal rulings. Apple Inc. | 2022 Form 10-K | 50 How We Addressed the Matter in Our Audit We tested controls relating to the evaluation of uncertain tax positions, including controls over management\u2019s assessment as to whether tax positions are more likely than not to be sustained, management\u2019s process to measure the benefit of its tax positions, and the development of the related disclosures. To evaluate Apple Inc.\u2019s assessment of which tax positions are more likely than not to be sustained, our audit procedures included, among others, reading and evaluating management\u2019s assumptions and analysis, and, as applicable, Apple Inc.\u2019s communications with taxing authorities, that detailed the basis and technical merits of the uncertain tax positions. We involved our tax subject matter resources in assessing the technical merits of certain of Apple Inc.\u2019s tax positions based on our knowledge of relevant tax laws and experience with related taxing authorities. For certain tax positions, we also received external legal counsel confirmation letters and discussed the matters with external advisors and Apple Inc. tax personnel. In addition, we evaluated Apple Inc.\u2019s disclosure in relation to these matters included in Note 5 to the financial statements. \\/s\\/ Ernst & Young LLP We have served as Apple Inc.\u2019s auditor since 2009. San Jose, California October 27, 2022 Apple Inc. | 2022 Form 10-K | 51 Report of Independent Registered Public Accounting Firm To the Shareholders and the Board of Directors of Apple Inc. Opinion on Internal Control Over Financial Reporting We have audited Apple Inc.\u2019s internal control over financial reporting as of September 24, 2022, based on criteria established in Internal Control \u2013 Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the \u201cCOSO criteria\u201d). In our opinion, Apple Inc. maintained, in all material respects, effective internal control over financial reporting as of September 24, 2022, based on the COSO criteria. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the \u201cPCAOB\u201d), the consolidated balance sheets of Apple Inc. as of September 24, 2022 and September 25, 2021, the related consolidated statements of operations, comprehensive income, shareholders\u2019 equity and cash flows for each of the three years in the period ended September 24, 2022, and the related notes and our report dated October 27, 2022 expressed an unqualified opinion thereon. Basis for Opinion Apple Inc.\u2019s management is responsible for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management\u2019s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on Apple Inc.\u2019s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to Apple Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Definition and Limitations of Internal Control Over Financial Reporting A company\u2019s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A company\u2019s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company\u2019s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. \\/s\\/ Ernst & Young LLP San Jose, California October 27, 2022 Apple Inc. | 2022 Form 10-K | 52 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure None. Item 9A. Controls and Procedures Evaluation of Disclosure Controls and Procedures Based on an evaluation under the supervision and with the participation of the Company\u2019s management, the Company\u2019s principal executive officer and principal financial officer have concluded that the Company\u2019s disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act were effective as of September 24, 2022 to provide reasonable assurance that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods"} +{"_id": "d4aa1b854", "title": "", "text": "\u2022 in the case of the 2018 Indenture, to add to, change or eliminate any of the provisions of the 2018 Indenture in respect of one or more series of debt securities; provided that any such addition, change or elimination shall become effective only when there is no outstanding security of any series created prior to the execution of such supplemental indenture that is entitled to the benefit of such provision and as to which such supplemental indenture would apply; \u2022 to cure any ambiguity, omission, defect or inconsistency; \u2022 to change any other provision; provided that the change does not adversely affect the interests of the holders of debt securities of, in the case of the 2013 Indenture any series, and in the case of the 2018 Indenture, any outstanding series, in any material respect; \u2022 to supplement any of the provisions of the applicable Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of Notes pursuant to the Indenture; 12 provided that any such action shall not adversely affect the interests of the holders of Notes of such series or any other series of debt securities in any material respect; \u2022 to comply with the rules or regulations of any securities exchange or automated quotation system on which any of the Notes may be listed or traded; and \u2022 to add to, change or eliminate any of the provisions of the applicable Indenture as shall be necessary or desirable in accordance with any amendments to the Trust Indenture Act of 1939, as amended, and in the case of the 2013 Indenture, provided that such action does not adversely affect the rights or interests of any holder of debt securities in any material respect. The holders of at least a majority in aggregate principal amount of the outstanding Notes of any series may, on behalf of the holders of all Notes of that series, waive compliance by us with certain restrictive provisions of the Indentures. The holders of not less than a majority in aggregate principal amount of the outstanding Notes of a series may, on behalf of the holders of all Notes of that series, waive any past default and its consequences under the applicable Indenture with respect to the Notes of that series, except a default (1) in the payment of principal or premium, if any, or interest on Notes of that series or (2) in respect of a covenant or provision of the applicable Indenture that cannot be modified or amended without the consent of the holder of each Note of that series. Upon any such waiver, such default will cease to exist, and any event of default arising therefrom will be deemed to have been cured, for every purpose of the Indenture; however, no such waiver will extend to any subsequent or other default or event of default or impair any rights consequent thereon. Discharge, Defeasance and Covenant Defeasance We may discharge certain obligations to holders of the Notes of a series that have not already been delivered to the trustee for cancellation and that either have become due and payable or will become due and payable within one year (or scheduled for redemption within one year) by depositing with the trustee, in trust, funds in U.S. dollars in an amount sufficient to pay the entire indebtedness including, but not limited to, the principal and premium, if any, and interest to the date of such deposit (if due and payable) or to the maturity thereof or the redemption date of the Notes of that series, as the case may be. We may direct the trustee to invest such funds in U.S. Treasury securities with a maturity of one year or less or in a money market fund that invests solely in short-term U.S. Treasury securities. The Indentures provide that we may elect either (1) to defease and be discharged from any and all obligations with respect to the Notes of a series (except for, among other things, obligations to register the transfer or exchange of the Notes, to replace temporary or mutilated, destroyed, lost or stolen Notes, to maintain an office or agency with respect to the Notes and to hold moneys for payment in trust) (\u201clegal defeasance\u201d) or (2) to be released from our obligations to comply with the restrictive covenants under the applicable Indenture, and any omission to comply with such obligations will not constitute a default or an event of default with respect to the Notes of a series and clauses (3) and (6) under the caption \u201cEvents of Default\u201d above will no longer be applied (\u201ccovenant defeasance\u201d). Legal defeasance or covenant defeasance, as the case may be, will be conditioned upon, among other things, the irrevocable deposit by us with the trustee, in trust, of an amount in U.S. dollars, or U.S. government obligations (as such term is modified below), or both, applicable to the Notes of that series which through the scheduled payment of principal and interest in accordance with their terms will provide money in an amount sufficient to pay the principal or premium, if any, and interest on the Notes on the scheduled due dates therefor. If we effect covenant defeasance with respect to the Notes of any series, the amount in U.S. dollars, or U.S. government obligations (as such term is modified below), or both, on deposit with the trustee will be sufficient, in the opinion of a nationally recognized firm of independent accountants, to pay amounts due on the Notes of that series at the time of the stated maturity but may not be sufficient to pay amounts due on the Notes of that series at the time of the acceleration resulting from such event of default. However, we would remain liable to make payment of such amounts due at the time of acceleration. With respect to the 2022 Notes, the 2024 Notes, the 0.000% 2025 Notes, the 0.875% 2025 Notes, the 2026 Notes, the 2027 Notes, the 1.375% 2029 Notes and the 2031 Notes, the term \u201cU.S. government obligations\u201d shall instead mean (x) any security that is (i) a direct obligation of the German government or (ii) an obligation of a person controlled or supervised by and acting as an agency or instrumentality of the German government the payment of which is fully and unconditionally guaranteed by the German government or the central bank of the German government, which, in either case (x)(i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) 13 certificates, depositary receipts or other instruments which evidence a direct ownership interest in obligations described in clause (x)(i) or (x)(ii) above or in any specific principal or interest payments due in respect thereof. With respect to the 3.050% 2029 Notes and the 2042 Notes, the term \u201cU.S. government obligations\u201d shall instead mean (x) any security that is (i) a direct obligation of the United Kingdom government or (ii) an obligation of a person controlled or supervised by and acting as an agency or instrumentality of the United Kingdom government the payment of which is fully and unconditionally guaranteed by the United Kingdom government or the central bank of the United Kingdom government, which, in either case (x)(i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) certificates, depositary receipts or other instruments which evidence a direct ownership interest in obligations described in clause (x)(i) or (x)(ii) above or in any specific principal or interest payments due in respect thereof. We will be required to deliver to the trustee an opinion of counsel that the deposit and related defeasance will not cause the holders and beneficial owners of the Notes of that series to recognize income, gain or loss for federal income tax purposes. If we elect legal defeasance, that opinion of counsel must be based upon a ruling from the U.S. Internal Revenue Service or a change in law to that effect. We may exercise our legal defeasance option notwithstanding our prior exercise of our covenant defeasance option. Book-Entry and Settlement The Notes were issued in book-entry form and are represented by global notes deposited with, or on behalf of, a common depositary on behalf of Euroclear and Clearstream, and are registered in the name of the common depositary or its nominee. Except as described herein, certificated notes will not be issued in exchange for beneficial interests in the global notes. Certificated Notes Subject to certain conditions, the Notes represented by the global notes are exchangeable for certificated notes in definitive form of like tenor, in minimum denominations of \u20ac100,000 principal amount and integral multiples of \u20ac1,000 in excess thereof in the case of the 2022 Notes, the 2024 Notes, the 0.000% 2025 Notes, the 0.875% 2025 Notes, the 2026 Notes, the 2027 Notes, the 1.375% 2029 Notes and the 2031 Notes, and in minimum denominations of \u00a3100,000 principal amount and integral multiples of \u00a31,000 in excess thereof in the case of the 3.050% 2029 Notes and the 2042 Notes, if: 1. the common depositary notifies us that it is unwilling or unable to continue as depositary or"} +{"_id": "d4aa08ad8", "title": "", "text": "Share-Based Compensation\nThe following table shows share-based compensation expense and the related income tax benefit included in the Consolidated \nStatements of Operations for 2022 , 2021 and 2020 (in millions):\n2022 2021 2020\nShare-based compensation expense $ 9,038 $ 7,906 $ 6,829 \nIncome tax benefit related to share-based compensation expense $ (4,002) $ (4,056) $ (2,476) \nAs of September\u00a024, 2022 , the total unrecognized compensation cost related to outstanding RSUs and stock options was $16.7 \nbillion , which the Company expects to recognize over a weighted-average period of 2.6 years .\nNote 10 \u2013 Commitments and Contingencies\nConcentrations in the Available Sources of Supply of Materials and Product\nAlthough most components essential to the Company\u2019s business are generally available from multiple sources, certain \ncomponents are currently obtained from single or limited sources. The Company also competes for various components with \nother participants in the markets for smartphones, personal computers, tablets, wearables and accessories. Therefore, many \ncomponents used by the Company, including those that are available from multiple sources, are at times subject to industry-wide \nshortage and significant commodity pricing fluctuations.\nThe Company uses some custom components that are not commonly used by its competitors, and new products introduced by \nthe Company often utilize custom components available from only one source. When a component or product uses new \ntechnologies, initial capacity constraints may exist until the suppliers\u2019 yields have matured or their manufacturing capacities have \nincreased. The continued availability of these components at acceptable prices, or at all, may be affected if suppliers decide to \nconcentrate on the production of common components instead of components customized to meet the Company\u2019s requirements.\nSubstantially all of the Company\u2019s hardware products are manufactured by outsourcing partners that are located primarily in \nAsia, with some Mac computers manufactured in the U.S. and Ireland.\nUnconditional Purchase Obligations\nThe Company has entered into certain off\u2013balance sheet commitments that require the future purchase of goods or services \n(\u201cunconditional purchase obligations\u201d). The Company\u2019s unconditional purchase obligations primarily consist of payments for \nsupplier arrangements, internet services and content creation. Future payments under noncancelable unconditional purchase \nobligations with a remaining term in excess of one year as of September\u00a024, 2022 , are as follows (in millions):\n2023 $ 13,488 \n2024 4,876 \n2025 1,418 \n2026 6,780 \n2027 312 \nThereafter 412 \nTotal $ 27,286 \nContingencies\nThe Company is subject"} +{"_id": "d4aa0b1f2", "title": "", "text": "000% 2025 Notes, the 0.875% 2025 Notes, the 1.375% 2029 Notes and the 2031 \nNotes at our option, at any time in whole or from time to time in part, prior to the applicable Par Call Date at a \nredemption price equal to the greater of: \n\u2022100% of the principal amount of the Notes to be redeemed; or \n\u2022the sum of the present values of the remaining scheduled payments of principal and interest thereon \nassuming that the Notes matured on the applicable Par Call Date (not including any portion of such \npayments of interest accrued as of the date of redemption), discounted to the date of redemption on an \nannual basis (ACTUAL/ACTUAL (ICMA)) at the applicable Comparable Government Bond Rate (as \ndefined below), plus 10 basis points in the case of the 0.000% 2025 Notes, plus 15 basis points in the \ncase of the 0.875% 2025 Notes and the 2031 Notes, and 20 basis points in the case of the 2029 Notes. \n\u201cPar Call Date\u201d means (i)\u00a0with respect to the 0.000% 2025 Notes, August 15, 2025 (three months prior to the \nmaturity date of the 0.000% 2025 Notes), (ii) with respect to the 0.875% 2025 Notes, February 24, 2025 (three \nmonths prior to the maturity date of the 0.875% 2025 Notes), (iii)\u00a0with respect to the 1.375% 2029 Notes, February \n24, 2029 (three months prior to the maturity date of 1.375% 2029 Notes) and (iv) with respect to the 2031 Notes, \nAugust 15, 2031 (three months prior to the maturity of the 2031 Notes).\n7"} +{"_id": "d4aa18e92", "title": "", "text": "UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) \u2612 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 24, 2022 or \u2610 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-36743 Apple Inc. (Exact name of Registrant as specified in its charter) California 94-2404110 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One Apple Park Way Cupertino, California 95014 (Address of principal executive offices) (Zip Code) (408) 996-1010 (Registrant\u2019s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $0.00001 par value per share AAPL The Nasdaq Stock Market LLC 1.000% Notes due 2022 \u2014 The Nasdaq Stock Market LLC 1.375% Notes due 2024 \u2014 The Nasdaq Stock Market LLC 0.000% Notes due 2025 \u2014 The Nasdaq Stock Market LLC 0.875% Notes due 2025 \u2014 The Nasdaq Stock Market LLC 1.625% Notes due 2026 \u2014 The Nasdaq Stock Market LLC 2.000% Notes due 2027 \u2014 The Nasdaq Stock Market LLC 1.375% Notes due 2029 \u2014 The Nasdaq Stock Market LLC 3.050% Notes due 2029 \u2014 The Nasdaq Stock Market LLC 0.500% Notes due 2031 \u2014 The Nasdaq Stock Market LLC 3.600% Notes due 2042 \u2014 The Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes \u2612 No \u2610 Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes \u2610 No \u2612 Indicate 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. Yes \u2612 No \u2610 Indicate 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). Yes \u2612 No \u2610 Indicate 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 \u201clarge accelerated filer,\u201d \u201caccelerated filer,\u201d \u201csmaller reporting company,\u201d and \u201cemerging growth company\u201d in Rule 12b-2 of the Exchange Act. Large accelerated filer \u2612 Accelerated filer \u2610 Non-accelerated filer \u2610 Smaller reporting company \u2610 Emerging growth company \u2610 If 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 Indicate by check mark whether the Registrant has filed a report on and attestation to its management\u2019s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. \u2612 Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes \u2610 No \u2612 The aggregate market value of the voting and non-voting stock held by non-affiliates of the Registrant, as of March 25, 2022, the last business day of the Registrant\u2019s most recently completed second fiscal quarter, was approximately $2,830,067,000,000. Solely for purposes of this disclosure, shares of common stock held by executive officers and directors of the Registrant as of such date have been excluded because such persons may be deemed to be affiliates. This determination of executive officers and directors as affiliates is not necessarily a conclusive determination for any other purposes. 15,908,118,000 shares of common stock were issued and outstanding as of October 14, 2022. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant\u2019s definitive proxy statement relating to its 2023 annual meeting of shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The Registrant\u2019s definitive proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates. Apple Inc. Form 10-K For the Fiscal Year Ended September 24, 2022 TABLE OF CONTENTS Page Part I Item 1. Business 1 Item 1A. Risk Factors 5 Item 1B. Unresolved Staff Comments 17 Item 2. Properties 17 Item 3. Legal Proceedings 17 Item 4. Mine Safety Disclosures 17 Part II Item 5. Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 18 Item 6. [Reserved] 19 Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 26 Item 8. Financial Statements and Supplementary Data 28 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 53 Item 9A. Controls and Procedures 53 Item 9B. Other Information 54 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 54 Part III Item 10. Directors, Executive Officers and Corporate Governance 54 Item 11. Executive Compensation 54 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54 Item 13. Certain Relationships and Related Transactions, and Director Independence 54 Item 14. Principal Accountant Fees and Services 54 Part IV Item 15. Exhibit and Financial Statement Schedules 55 Item 16. Form 10-K Summary 57 This Annual Report on Form 10-K (\u201cForm 10-K\u201d) contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Many of the forward-looking statements are located in Part I, Item 1 of this Form 10-K under the heading \u201cBusiness\u201d and Part II, Item 7 of this Form 10-K under the heading \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations.\u201d Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. For example, statements in this Form 10-K regarding the potential future impact of the COVID-19 pandemic on the Company\u2019s business and results of operations are forward-looking statements. Forward-looking statements can also be identified by words such as \u201cfuture,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cpredicts,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201ccan,\u201d \u201cmay,\u201d and similar terms. Forward-looking statements are not guarantees of future performance and the Company\u2019s actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in Part I, Item"} +{"_id": "d4aa0d740", "title": "", "text": "Consolidation, Merger and Sale of Assets\nThe Indentures provide that we may consolidate with or merge with or into any other person, and may sell, \ntransfer, or lease or convey all or substantially all of our properties and assets to another person; provided that the \nfollowing conditions are satisfied: \n\u2022we are the continuing entity, or the resulting, surviving or transferee person (the \u201cSuccessor\u201d) is a \nperson (if such person is not a corporation, then the Successor will include a corporate co-issuer of the \ndebt securities) organized and existing under the laws of the United States of America, any state thereof \nor the District of Columbia and the Successor (if not us) will expressly assume, by supplemental \nindenture, all of our obligations under the debt securities and the applicable Indenture and, for each \nsecurity that by its terms provides for conversion, provide for"} +{"_id": "d4aa0a7d4", "title": "", "text": "The 2027 Notes\nWe issued \u20ac1,000,000,000 aggregate principal amount of the 2027 Notes on September 17, 2015. The \nmaturity date of the 2027 Notes is September 17, 2027, and interest at a rate of 2.000% per annum is paid annually \non September 17 of each year, beginning on September 17, 2016, and on the maturity date. As of October\u00a014, 2022 , \n\u20ac1,000,000,000 aggregate principal amount of the 2027 Notes was outstanding.\nThe 1.375% 2029 Notes\nWe issued \u20ac1,250,000,000 aggregate principal amount of the 1.375% 2029 Notes on May 24, 2017. The \nmaturity date of the 1.375% 2029 Notes is May 24, 2029, and interest at a rate of 1.375% per annum is paid annually \non May 24 of each year,"} +{"_id": "d4aa09172", "title": "", "text": " as of September\u00a0 24, 2022 and September\u00a0 25, 2021 , the related \nconsolidated statements of operations, comprehensive income, shareholders\u2019 equity and cash flows for each of the three years \nin the period ended September\u00a024, 2022 , and the related notes and our report dated October\u00a027, 2022 expressed an unqualified \nopinion thereon.\nBasis for Opinion\nApple Inc.\u2019s management is responsible for maintaining effective internal control over financial reporting, and for its assessment \nof the effectiveness of internal control over financial reporting included in the accompanying Management\u2019s Annual Report on \nInternal Control over Financial Reporting. Our responsibility is to express an opinion on Apple Inc.\u2019s internal control over financial \nreporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent \nwith respect to Apple Inc. in accordance with the U.S. federal securities laws"} +{"_id": "d4aa079c6", "title": "", "text": "The following table shows the fair value of the Company\u2019s non-current marketable debt securities, by contractual maturity, as of \nSeptember\u00a024, 2022 (in millions):\nDue after 1 year through 5 years $ 87,031 \nDue after 5 years through 10 years 16,429 \nDue after 10 years 17,345 \nTotal fair value $ 120,805 \nDerivative Instruments and Hedging\nThe Company may use derivative instruments to partially offset its business exposure to foreign exchange and interest rate risk. \nHowever, the Company may choose not to hedge certain exposures for a variety of reasons including accounting considerations \nor the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a \nportion of the financial impact resulting from movements in foreign exchange or interest rates.\nForeign Exchange Risk\nTo protect gross margins from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, \noption contracts or other instruments, and may designate these instruments as cash flow hedges. The Company generally \nhedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases, typically for up to \n12 months .\nTo protect the Company\u2019s foreign currency\u2013denominated term debt or marketable securities from fluctuations in foreign currency \nexchange rates, the Company may enter into forward contracts, cross-currency swaps or other instruments. The Company \ndesignates these instruments as either cash flow or fair value hedges. As of September\u00a024, 2022 , the maximum length of time \nover which the Company is hedging its exposure to the variability in future cash flows for term debt\u2013related foreign currency \ntransactions is 20 years .\nThe Company may also enter into derivative instruments that are not designated as accounting hedges to protect gross margins \nfrom certain fluctuations in foreign currency exchange rates, as well as to offset a portion of the foreign currency exchange gains \nand losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies.\nInterest Rate Risk\nTo protect the Company\u2019s term debt or marketable securities from fluctuations in interest rates, the Company may enter into \ninterest rate swaps, options or other instruments. The Company designates these instruments as either cash flow or fair value \nhedges.\nThe notional amounts of the Company\u2019s outstanding derivative instruments as of September\u00a024, 2022 and September\u00a025, 2021 \nwere as follows (in millions):\n2022 2021\nDerivative instruments designated as accounting hedges:\nForeign exchange contracts $ 102,670 $ 76,475 \nInterest rate contracts $ 20,125 $ 16,875 \nDerivative instruments not designated as accounting hedges:\nForeign exchange contracts $ 185,381 $ 126,918 \nApple Inc"} +{"_id": "d4aa10710", "title": "", "text": "Exhibit 21.1\nSubsidiaries of\nApple Inc.*\nJurisdiction\nof\u00a0Incorporation\nApple Asia Limited Hong Kong\nApple Asia LLC Delaware, U.S.\nApple Canada Inc. Canada\nApple Computer Trading (Shanghai) Co., Ltd. China\nApple Distribution International Limited Ireland\nApple India Private Limited India\nApple Insurance Company, Inc. Arizona, U.S.\nApple Japan, Inc. Japan\nApple Korea Limited South Korea\nApple Operations Europe Limited Ireland\nApple Operations International Limited Ireland\nApple Operations Limited Ireland\nApple Operations Mexico, S.A. de C.V. Mexico\nApple Pty Limited Australia\nApple Sales International Limited Ireland\nApple South Asia (Thailand) Limited Thailand\nApple Vietnam Limited Liability Company Vietnam\nBraeburn Capital, Inc. Nevada,\u00a0U.S.\niTunes K.K. Japan\n* Pursuant to Item 601(b)(21)(ii"} +{"_id": "d4aa0af90", "title": "", "text": "governmental agreement entered into in connection with the \nimplementation of such sections of the Code; or\n(10)in the case of any combination of items (1)\u00a0through (9)\u00a0above.\nThe Notes are subject in all cases to any tax, fiscal or other law or regulation or administrative or judicial \ninterpretation applicable to the Notes. Except as specifically provided under this heading \u201c\u2014Payment of Additional \nAmounts,\u201d the Company will not be required to make any payment for any Tax imposed by any government or a \npolitical subdivision or taxing authority of or in any government or political subdivision. As used under \u201c\u2014Payment of \nAdditional Amounts\u201d and under \u201c\u2014Redemption for Tax Reasons,\u201d the term \u201cUnited States\u201d means the United States \n6"} +{"_id": "d4aa18744", "title": "", "text": "(4,774) (215) Other 111 (147) (97) Changes in operating assets and liabilities: Accounts receivable, net (1,823) (10,125) 6,917 Inventories 1,484 (2,642) (127) Vendor non-trade receivables (7,520) (3,903) 1,553 Other current and non-current assets (6,499) (8,042) (9,588) Accounts payable 9,448 12,326 (4,062) Deferred revenue 478 1,676 2,081 Other current and non-current liabilities 5,632 5,799 8,916 Cash generated by operating activities 122,151 104,038 80,674 Investing activities: Purchases of marketable securities (76,923) (109,558) (114,938) Proceeds from maturities of marketable securities 29,917 59,023 69,918 Proceeds from sales of marketable securities 37,446 47,460 50,473 Payments for acquisition of property, plant and equipment (10,708) (11,085) (7,309) Payments made in connection with business acquisitions, net (306) (33) (1,524) Other (1,780) (352) (909) Cash used in investing activities (22,354) (14,545) (4,289) Financing activities: Payments for taxes related to net share settlement of equity awards (6,223) (6,556) (3,634) Payments for dividends and dividend equivalents (14,841) (14,467) (14,081) Repurchases of common stock (89,402) (85,971) (72,358) Proceeds from issuance of term debt, net 5,465 20,393 16,091 Repayments of term debt (9,543) (8,750) (12,629) Proceeds from\\/(Repayments of) commercial paper, net 3,955 1,022 (963) Other (160) 976 754 Cash used in financing activities (110,749) (93,353) (86,820) Decrease in cash, cash equivalents and restricted cash (10,952) (3,860) (10,435) Cash, cash equivalents and restricted cash, ending balances $ 24,977 $ 35,929 $ 39,789 Supplemental cash flow disclosure: Cash paid for income taxes, net $ 19,573 $ 25,385 $ 9,501 Cash paid for interest $ 2,865 $ 2,687 $ 3,002 See accompanying Notes to Consolidated Financial Statements. Apple Inc. | 2022 Form 10-K | 33 Apple Inc. Notes to Consolidated Financial Statements Note 1 \u2013 Summary of Significant Accounting Policies Basis of Presentation and Preparation The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively \u201cApple\u201d or the \u201cCompany\u201d). Intercompany accounts and transactions have been eliminated. The preparation of these consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior period amounts in the consolidated financial statements and accompanying notes have been reclassified to conform to the current period\u2019s presentation. The Company\u2019s fiscal year is the 52- or 53-week period that ends on the last Saturday of September. An additional week is included in the first fiscal quarter every five or six years to realign the Company\u2019s fiscal quarters with calendar quarters, which will occur in the first quarter of the Company\u2019s fiscal year ending September 30, 2023. The Company\u2019s fiscal years 2022, 2021 and 2020 spanned 52 weeks each. Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company\u2019s fiscal years ended in September and the associated quarters, months and periods of those fiscal years. Revenue Recognition Net sales consist of revenue from the sale of iPhone, Mac, iPad, Services and other products. The Company recognizes revenue at the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products or services are transferred to its customers. For most of the Company\u2019s Products net sales, control transfers when products are shipped. For the Company\u2019s Services net sales, control transfers over time as services are delivered. Payment for Products and Services net sales is collected within a short period following transfer of control or commencement of delivery of services, as applicable. The Company records reductions to Products net sales related to future product returns, price protection and other customer incentive programs based on the Company\u2019s expectations and historical experience. For arrangements with multiple performance obligations, which represent promises within an arrangement that are distinct, the Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices (\u201cSSPs\u201d). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company\u2019s best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company\u2019s process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the unique facts and circumstances related to each performance obligation including, where applicable, prices charged by the Company for similar offerings, market trends in the pricing for similar offerings, product-specific business objectives and the estimated cost to provide the performance obligation. The Company has identified up to three performance obligations regularly included in arrangements involving the sale of iPhone, Mac, iPad and certain other products. The first performance obligation, which represents the substantial portion of the allocated sales price, is the hardware and bundled software delivered at the time of sale. The second performance obligation is the right to receive certain product-related bundled services, which include iCloud , Siri and Maps. The third performance obligation is the right to receive, on a when-and-if-available basis, future unspecified software upgrades relating to the software bundled with each device. The Company allocates revenue and any related discounts to these performance obligations based on their relative SSPs. Because the Company lacks observable prices for the undelivered performance obligations, the allocation of revenue is based on the Company\u2019s estimated SSPs. Revenue allocated to the delivered hardware and bundled software is recognized when control has transferred to the customer, which generally occurs when the product is shipped. Revenue allocated to the product-related bundled services and unspecified software upgrade rights is deferred and recognized on a straight-line basis over the estimated period they are expected to be provided. Cost of sales related to delivered hardware and bundled software, including estimated warranty costs, are recognized at the time of sale. Costs incurred to provide product-related bundled services and unspecified software upgrade rights are recognized as cost of sales as incurred. For certain long-term service arrangements, the Company has performance obligations for services it has not yet delivered. For these arrangements, the Company does not have a right to bill for the undelivered services. The Company has determined that any unbilled consideration relates entirely to the value of the undelivered services. Accordingly, the Company has not recognized revenue, and does not disclose amounts, related to these undelivered services. \u00ae \u00ae Apple Inc. | 2022 Form 10-K | 34 For the sale of third-party products where the Company obtains control of the product before transferring it to the customer, the Company recognizes revenue based on the gross amount billed to customers. The Company considers multiple factors when determining whether it obtains control of third-party products, including evaluating if it can establish the price of the product, retains inventory risk for tangible products or has the responsibility for ensuring acceptability of the product. For third-party applications sold through the App Store and certain digital content sold through the Company\u2019s other digital content stores, the Company does not obtain control of the product before transferring it to the customer. Therefore, the Company accounts for such sales on a net basis by recognizing in Services net sales only the commission it retains. The Company records revenue net of taxes collected from customers that are remitted to governmental authorities, with the"} +{"_id": "d4aa1afee", "title": "", "text": "global notes representing the Floating Rate Notes due 2016, Floating Rate Notes due 2018, 0.45% Notes due 2016, 1.00% Notes due 2018, 2.40% Notes due 2023 and 3.85% Notes due 2043. 8-K 4.1 5\\/3\\/13 4.4 Officer\u2019s Certificate of the Registrant, dated as of May 6, 2014, including forms of global notes representing the Floating Rate Notes due 2017, Floating Rate Notes due 2019, 1.05% Notes due 2017, 2.10% Notes due 2019, 2.85% Notes due 2021, 3.45% Notes due 2024 and 4.45% Notes due 2044. 8-K 4.1 5\\/6\\/14 4.5 Officer\u2019s Certificate of the Registrant, dated as of November 10, 2014, including forms of global notes representing the 1.000% Notes due 2022 and 1.625% Notes due 2026. 8-K 4.1 11\\/10\\/14 4.6 Officer\u2019s Certificate of the Registrant, dated as of February 9, 2015, including forms of global notes representing the Floating Rate Notes due 2020, 1.55% Notes due 2020, 2.15% Notes due 2022, 2.50% Notes due 2025 and 3.45% Notes due 2045. 8-K 4.1 2\\/9\\/15 4.7 Officer\u2019s Certificate of the Registrant, dated as of May 13, 2015, including forms of global notes representing the Floating Rate Notes due 2017, Floating Rate Notes due 2020, 0.900% Notes due 2017, 2.000% Notes due 2020, 2.700% Notes due 2022, 3.200% Notes due 2025, and 4.375% Notes due 2045. 8-K 4.1 5\\/13\\/15 4.8 Officer\u2019s Certificate of the Registrant, dated as of July 31, 2015, including forms of global notes representing the 3.05% Notes due 2029 and 3.60% Notes due 2042. 8-K 4.1 7\\/31\\/15 4.9 Officer\u2019s Certificate of the Registrant, dated as of September 17, 2015, including forms of global notes representing the 1.375% Notes due 2024 and 2.000% Notes due 2027. 8-K 4.1 9\\/17\\/15 (1) Apple Inc. | 2022 Form 10-K | 55 Incorporated by Reference Exhibit Number Exhibit Description Form Exhibit Filing Date\\/ Period End Date 4.10 Officer\u2019s Certificate of the Registrant, dated as of February 23, 2016, including forms of global notes representing the Floating Rate Notes due 2019, Floating Rate Notes due 2021, 1.300% Notes due 2018, 1.700% Notes due 2019, 2.250% Notes due 2021, 2.850% Notes due 2023, 3.250% Notes due 2026, 4.500% Notes due 2036 and 4.650% Notes due 2046. 8-K 4.1 2\\/23\\/16 4.11 Supplement No. 1 to the Officer\u2019s Certificate of the Registrant, dated as of March 24, 2016. 8-K 4.1 3\\/24\\/16 4.12 Officer\u2019s Certificate of the Registrant, dated as of August 4, 2016, including forms of global notes representing the Floating Rate Notes due 2019, 1.100% Notes due 2019, 1.550% Notes due 2021, 2.450% Notes due 2026 and 3.850% Notes due 2046. 8-K 4.1 8\\/4\\/16 4.13 Officer\u2019s Certificate of the Registrant, dated as of February 9, 2017, including forms of global notes representing the Floating Rate Notes due 2019, Floating Rate Notes due 2020, Floating Rate Notes due 2022, 1.550% Notes due 2019, 1.900% Notes due 2020, 2.500% Notes due 2022, 3.000% Notes due 2024, 3.350% Notes due 2027 and 4.250% Notes due 2047. 8-K4.1 2\\/9\\/17 4.14 Officer\u2019s Certificate of the Registrant, dated as of May 11, 2017, including forms of global notes representing the Floating Rate Notes due 2020, Floating Rate Notes due 2022, 1.800% Notes due 2020, 2.300% Notes due 2022, 2.850% Notes due 2024 and 3.200% Notes due 2027. 8-K 4.1 5\\/11\\/17 4.15 Officer\u2019s Certificate of the Registrant, dated as of May 24, 2017, including forms of global notes representing the 0.875% Notes due 2025 and 1.375% Notes due 2029. 8-K 4.1 5\\/24\\/17 4.16 Officer\u2019s Certificate of the Registrant, dated as of June 20, 2017, including form of global note representing the 3.000% Notes due 2027. 8-K 4.1 6\\/20\\/17 4.17 Officer\u2019s Certificate of the Registrant, dated as of August 18, 2017, including form of global note representing the 2.513% Notes due 2024. 8-K 4.1 8\\/18\\/17 4.18 Officer\u2019s Certificate of the Registrant, dated as of September 12, 2017, including forms of global notes representing the 1.500% Notes due 2019, 2.100% Notes due 2022, 2.900% Notes due 2027 and 3.750% Notes due 2047. 8-K 4.1 9\\/12\\/17 4.19 Officer\u2019s Certificate of the Registrant, dated as of November 13, 2017, including forms of global notes representing the 1.800% Notes due 2019, 2.000% Notes due 2020, 2.400% Notes due 2023, 2.750% Notes due 2025, 3.000% Notes due 2027 and 3.750% Notes due 2047. 8-K 4.1 11\\/13\\/17 4.20 Indenture, dated as of November 5, 2018, between the Registrant and The Bank of New York Mellon Trust Company, N.A., as Trustee. S-3 4.1 11\\/5\\/18 4.21 Officer\u2019s Certificate of the Registrant, dated as of September 11, 2019, including forms of global notes representing the 1.700% Notes due 2022, 1.800% Notes due 2024, 2.050% Notes due 2026, 2.200% Notes due 2029 and 2.950% Notes due 2049. 8-K 4.1 9\\/11\\/19 4.22 Officer\u2019s Certificate of the Registrant, dated as of November 15, 2019, including forms of global notes representing the 0.000% Notes due 2025 and 0.500% Notes due 2031. 8-K 4.1 11\\/15\\/19 4.23 Officer\u2019s Certificate of the Registrant, dated as of May 11, 2020, including forms of global notes representing the 0.750% Notes due 2023, 1.125% Notes due 2025, 1.650% Notes due 2030 and 2.650% Notes due 2050. 8-K 4.1 5\\/11\\/20 4.24 Officer\u2019s Certificate of the Registrant, dated as of August 20, 2020, including forms of global notes representing the 0.550% Notes due 2025, 1.25% Notes due 2030, 2.400% Notes due 2050 and 2.550% Notes due 2060. 8-K 4.1 8\\/20\\/20 4.25 Officer\u2019s Certificate of the Registrant, dated as of February 8, 2021, including forms of global notes representing the 0.700% Notes due 2026, 1.200% Notes due 2028, 1.650% Notes due 2031, 2.375% Notes due 2041, 2.650% Notes due 2051 and 2.800% Notes due 2061. 8-K 4.1 2\\/8\\/21 4.26 Officer\u2019s Certificate of the Registrant, dated as of August 5, 2021, including forms of global notes representing the 1.400% Notes due 2028, 1.700% Notes due 2031, 2.700% Notes due 2051 and 2.850% Notes due 2061. 8-K 4.1 8\\/5\\/21 4.27 Indenture, dated as of October 28, 2021, between the Registrant and The Bank of New York Mellon Trust Company, N"} +{"_id": "d4aa06a44", "title": "", "text": "Apple Inc.\nCONSOLIDATED STATEMENTS OF SHAREHOLDERS\u2019 EQUITY\n(In millions, except per share amounts)\nYears ended\nSeptember 24,\n2022September 25,\n2021September 26,\n2020\nTotal shareholders\u2019 equity, beginning balances $ 63,090 $ 65,339 $ 90,488 \nCommon stock and additional paid-in capital:\nBeginning balances 57,365 50,779 45,174 \nCommon stock issued 1,175 1,105 880 \nCommon stock withheld related to net share settlement of equity \nawards (2,971) (2,627) (2,250) \nShare-based compensation 9,280 8,108 6,975 \nEnding balances 64,849 57,365 50,779 \nRetained earnings/(Accumulated deficit):\nBeginning"} +{"_id": "d4aa0a9e6", "title": "", "text": " Notes\u201d); (v) 0.875% Notes due 2025 \n(the \u201c0.875% 2025 Notes\u201d); (vi) 1.625% Notes due 2026 (the \u201c2026 Notes\u201d); (vii) 2.000% Notes due 2027 (the \u201c2027 \nNotes\u201d); (viii) 1.375% Notes due 2029 (the \u201c1.375% 2029 Notes\u201d); (ix) 3.050% Notes due 2029 (the \u201c3.050% 2029 \nNotes\u201d); (x) 0.500% Notes due 2031 (the \u201c2031 Notes\u201d); and (xi) 3.600% Notes due 2042 (the \u201c2042 Notes,\u201d and \ntogether with the 2022 Notes, the 2024 Notes, the 0.000% 2025 Notes, the 0.875% 2025 Notes, the"} +{"_id": "d4aa06b84", "title": "", "text": "A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate ( 21% \nin 2022 , 2021 and 2020 ) to income before provision for income taxes for 2022 , 2021 and 2020 , is as follows (dollars in millions):\n2022 2021 2020\nComputed expected tax $ 25,012 $ 22,933 $ 14,089 \nState taxes, net of federal effect 1,518 1,151 423 \nImpacts of the Act 542 \u2014 (582) \nEarnings of foreign subsidiaries (4,366) (4,715) (2,534) \nForeign-derived intangible income deduction (296) (1,372) (169) \nResearch and development credit, net (1,153) (1,033) (728) \nExcess tax benefits from equity awards "} +{"_id": "d4aa124fc", "title": "", "text": ") Hedge accounting fair value adjustments (1,363) 1,036 Less: Current portion of term debt (11,128) (9,613) Total non-current portion of term debt $ 98,959 $ 109,106 To manage interest rate risk on certain of its U.S. dollar\u2013denominated fixed-rate notes, the Company has entered into interest rate swaps to effectively convert the fixed interest rates to floating interest rates on a portion of these notes. Additionally, to manage foreign currency risk on certain of its foreign currency\u2013 denominated notes, the Company has entered into foreign currency swaps to effectively convert these notes to U.S. dollar\u2013denominated notes. The effective interest rates for the Notes include the interest on the Notes, amortization of the discount or premium and, if applicable, adjustments related to hedging. The Company recognized $2.8 billion, $2.6 billion and $2.8 billion of interest expense on its term debt for 2022, 2021 and 2020, respectively. Apple Inc. | 2022 Form 10-K | 45 The future principal payments for the Company\u2019s Notes as of September 24, 2022, are as follows (in millions): 2023 $ 11,139 2024 9,910 2025 10,645 2026 11,209 2027 9,631 Thereafter 59,290 Total term debt $ 111,824 As of September 24, 2022 and September 25, 2021, the fair value of the Company\u2019s Notes, based on Level 2 inputs, was $98.8 billion and $125.3 billion, respectively. Note 8 \u2013 Shareholders\u2019 Equity Share Repurchase Program During 2022, the Company repurchased 569 million shares of its common stock for $90.2 billion under a share repurchase program authorized by the Board of Directors (the \u201cProgram\u201d). The Program does not obligate the Company to acquire a minimum amount of shares. Under the Program, shares may be repurchased in privately negotiated and\\/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Shares of Common Stock The following table shows the changes in shares of common stock for 2022, 2021 and 2020 (in thousands): 2022 2021 2020 Common stock outstanding, beginning balances 16,426,786 16,976,763 17,772,945 Common stock repurchased (568,589) (656,340) (917,270) Common stock issued, net of shares withheld for employee taxes 85,228 106,363 121,088 Common stock outstanding, ending balances 15,943,425 16,426,786 16,976,763 Note 9 \u2013 Benefit Plans 2022 Employee Stock Plan In the second quarter of 2022, shareholders approved the Apple Inc. 2022 Employee Stock Plan (the \u201c2022 Plan\u201d), which provides for broad-based equity grants to employees, including executive officers, and permits the granting of restricted stock units (\u201cRSUs\u201d), stock grants, performance-based awards, stock options and stock appreciation rights. RSUs granted under the 2022 Plan generally vest over four years, based on continued employment, and are settled upon vesting in shares of the Company\u2019s common stock on a one-for-one basis. RSUs granted under the 2022 Plan reduce the number of shares available for grant under the plan by a factor of two times the number of RSUs granted. RSUs canceled and shares withheld to satisfy tax withholding obligations increase the number of shares available for grant under the 2022 Plan utilizing a factor of two times the number of RSUs canceled or shares withheld. All RSUs granted under the 2022 Plan have dividend equivalent rights (\u201cDERs\u201d), which entitle holders of RSUs to the same dividend value per share as holders of common stock. DERs are subject to the same vesting and other terms and conditions as the underlying RSUs. A maximum of approximately 1.3 billion shares were authorized for issuance pursuant to 2022 Plan awards at the time the plan was approved on March 4, 2022. 2014 Employee Stock Plan The Apple Inc. 2014 Employee Stock Plan (the \u201c2014 Plan\u201d) is a shareholder-approved plan that provided for broad-based equity grants to employees, including executive officers. The 2014 Plan permitted the granting of substantially the same types of equity awards with substantially the same terms as the 2022 Plan. The 2014 Plan also permitted the granting of cash bonus awards. In the third quarter of 2022, the Company terminated the authority to grant new awards under the 2014 Plan. Apple Inc. | 2022 Form 10-K | 46 Apple Inc. Non-Employee Director Stock Plan The Apple Inc. Non-Employee Director Stock Plan (the \u201cDirector Plan\u201d) is a shareholder-approved plan that (i) permits the Company to grant awards of RSUs or stock options to the Company\u2019s non-employee directors, (ii) provides for automatic initial grants of RSUs upon a non-employee director joining the Board of Directors and automatic annual grants of RSUs at each annual meeting of shareholders, and (iii) permits the Board of Directors to prospectively change the value and relative mixture of stock options and RSUs for the initial and annual award grants and the methodology for determining the number of shares of the Company\u2019s common stock subject to these grants, in each case within the limits set forth in the Director Plan and without further shareholder approval. RSUs granted under the Director Plan reduce the number of shares available for grant under the plan by a factor of two times the number of RSUs granted. The Director Plan expires on November 12, 2027. All RSUs granted under the Director Plan are entitled to DERs, which are subject to the same vesting and other terms and conditions as the underlying RSUs. A maximum of approximately 45 million shares (split-adjusted) were authorized for issuance pursuant to Director Plan awards at the time the plan was last amended on November 9, 2021. Employee Stock Purchase Plan The Employee Stock Purchase Plan (the \u201cPurchase Plan\u201d) is a shareholder-approved plan under which substantially all employees may voluntarily enroll to purchase the Company\u2019s common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods. An employee\u2019s payroll deductions under the Purchase Plan are limited to 10% of the employee\u2019s eligible compensation and employees may not purchase more than $25,000 of stock during any calendar year. A maximum of approximately 230 million shares (split-adjusted) were authorized for issuance under the Purchase Plan at the time the plan was last amended and restated on March 10, 2015. 401(k) Plan The Company\u2019s 401(k) Plan is a tax-qualified deferred compensation arrangement under Section 401(k) of the Internal Revenue Code. Under the 401(k) Plan, participating U.S. employees may contribute a portion of their eligible earnings, subject to applicable U.S. Internal Revenue Service and plan limits. The Company matches 50% to 100% of each employee\u2019s contributions, depending on length of service, up to a maximum of 6% of the employee\u2019s eligible earnings. Restricted Stock Units A summary of the Company\u2019s RSU activity and related information for 2022, 2021 and 2020, is as follows: Number of RSUs (in thousands) Weighted-Average Grant Date Fair Value Per RSU Aggregate Fair Value (in millions) Balance as of September 28, 2019 326,068 $ 42.30 RSUs granted 156,800 $ 59.20 RSUs vested (157,743) $ 40.29 RSUs canceled (14,347) $ 48.07 Balance as of September 26, 2020 310,778 $ 51.58 RSUs granted 89,363 $ 116.33 RSUs vested (145,766) $ 50.71 RSUs canceled (13,948) $ 68.95 Balance as of September 25, 2021 240,427 $ 75.16 RSUs granted 91,674 $ 150.70 RSUs vested (115,861) $ 72.12 RSUs canceled (14,739) $ 99.77 Balance as of September 24, 2022 201,501 $ 109.48 $ 30,312 The fair value as of the respective vesting dates of RSUs was $18.2 billion, $19.0 billion and $10.8 billion for 2022, 2021 and 2020, respectively. The majority of RSUs that vested in 2022, 2021 and 2020 were net"} +{"_id": "d4aa07b56", "title": "", "text": "The gross fai r values of the Company\u2019s derivative assets and liabilities as of September\u00a024, 2022 were as follows (in millions):\n2022\nFair Value of\nDerivatives Designated\nas Accounting HedgesFair Value of\nDerivatives Not Designated\nas Accounting HedgesTotal\nFair Value\nDerivative assets (1):\nForeign exchange contracts $ 4,317 $ 2,819 $ 7,136 \nDerivative liabilities (2):\nForeign exchange contracts $ 2,205 $ 2,547 $ 4,752 \nInterest rate contracts $ 1,367 $ \u2014 $ 1,367 \n(1) Derivative assets are measured using Level 2 fair value inputs and are included in other current assets and other non-\ncurrent assets in the Consolidated Balance Sheets.\n(2) Derivative liabilities are measured using Level 2 fair value inputs and are included in other current liabilities and other"} +{"_id": "d4aa01ecc", "title": "", "text": "es or unauthorized access to or releases of confidential information, including personal information, could subject \nthe Company to significant reputational, financial, legal and operational consequences.\nThe Company\u2019s business requires it to use and store confidential information, including personal information, with respect to the \nCompany\u2019s customers and employees. The Company devotes significant resources to network and data security, including \nthrough the use of encryption and other security measures intended to protect its systems and data. But these measures cannot \nprovide absolute security, and losses or unauthorized access to or releases of confidential information occur and could materially \nadversely affect the Company\u2019s business, reputation, results of operations and financial condition.\nThe Company\u2019s business also requires it to share confidential information with suppliers and other third parties. The Company \nrelies on global suppliers that are also exposed to ransomware and other malicious attacks that can disrupt business operations. \nAlthough the Company takes steps to secure confidential information that is provided to or accessible by third parties working on \nthe Company\u2019s behalf, such measures are not always effective and losses or unauthorized access to or releases of confidential \ninformation occur. Such incidents and other malicious attacks could materially adversely affect the Company\u2019s business, \nreputation, results of operations and financial condition.\nApple Inc. | 2022 Form 10-K | 11"} +{"_id": "d4aa06274", "title": "", "text": " \nthe model, the Company estimates with 95% confidence, a maximum one-day loss in fair value of $1.0 billion as of \nSeptember\u00a024, 2022 , compared to a maximum one-day loss in fair value of $550 million as of September\u00a025, 2021 . Because the \nCompany uses foreign currency instruments for hedging purposes, the losses in fair value incurred on those instruments are \ngenerally offset by increases in the fair value of the underlying exposures.\nActual future gains and losses associated with the Company\u2019s investment portfolio, debt and derivative positions may differ \nmaterially from the sensitivity analyses performed as of September\u00a0 24, 2022 due to the inherent limitations associated with \npredicting the timing and amount of changes in interest rates, foreign currency exchange rates and the Company\u2019s actual \nexposures and positions.\nApple Inc. | 2022 Form 10-K | 27"} +{"_id": "d4a9ffd70", "title": "", "text": "Indicate by check mark whether the Registrant has filed a report on and attestation to its management\u2019s assessment of the effectiveness of its \ninternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting \nfirm that prepared or issued its audit report. \u2612\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act).\nYes \u2610 No \u2612\nThe aggregate market value of the voting and non-voting stock held by non-affiliates of the Registrant, as of March 25, 2022 , the last business \nday of the Registrant\u2019s most recently completed second fiscal quarter, was approximately\u00a0$2,830,0"} +{"_id": "d4aa06da0", "title": "", "text": " additional week is \nincluded in the first fiscal quarter every five or six years to realign the Company\u2019s fiscal quarters with calendar quarters , which will \noccur in the first quarter of the Company\u2019s fiscal year ending September 30, 2023 . The Company\u2019s fiscal years 2022 , 2021 and \n2020 spanned 52 weeks each. Unless otherwise stated, references to particular years, quarters, months and periods refer to the \nCompany\u2019s fiscal years ended in September and the associated quarters, months and periods of those fiscal years .\nRevenue Recognition\nNet sales consist of revenue from the sale of iPhone, Mac, iPad, Services and other products. The Company recognizes revenue \nat the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is \ngenerally transferred when the Company has a present right to payment and title and the significant risks and rewards of"} +{"_id": "d4aa07336", "title": "", "text": "Note 11 \u2013 Segment Information and Geographic Data\nThe following table shows information by reportable segment for 2022 , 2021 and 2020 (in millions):\n2022 2021 2020\nAmericas:\nNet sales $ 169,658 $ 153,306 $ 124,556 \nOperating income $ 62,683 $ 53,382 $ 37,722 \nEurope:\nNet sales $ 95,118 $ 89,307 $ 68,640 \nOperating income $ 35,233 $ 32,505 $ 22,170 \nGreater China:\nNet sales $ 74,200 $ 68,366 $ 40,308 \nOperating income $ 31,153 $ 28,504 $ 15,261 \nJapan:\nNet sales $ 25,977 $ 28,482 $ 21,418 \nOperating income $ 12,257 $ 12,798 $ 9,279 \nRest of Asia Pacific:\nNet sales $ 29,375 $ 26"} +{"_id": "d4aa11cbe", "title": "", "text": "127,877 Total $ 189,961 $ 1,753 $ (1,198) $ 190,516 $ 34,940 $ 27,699 $ 127,877 (1) Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities. (2) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. (3) As of September 24, 2022 and September 25, 2021, total marketable securities included $12.7 billion and $17.9 billion, respectively, that were restricted from general use, related to the State Aid Decision (refer to Note 5, \u201cIncome Taxes\u201d) and other agreements. (1) (2) (3) (1) (2) (3) Apple Inc. | 2022 Form 10-K | 38 The following table shows the fair value of the Company\u2019s non-current marketable debt securities, by contractual maturity, as of September 24, 2022 (in millions): Due after 1 year through 5 years $ 87,031 Due after 5 years through 10 years 16,429 Due after 10 years 17,345 Total fair value $ 120,805 Derivative Instruments and Hedging The Company may use derivative instruments to partially offset its business exposure to foreign exchange and interest rate risk. However, the Company may choose not to hedge certain exposures for a variety of reasons including accounting considerations or the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign exchange or interest rates. Foreign Exchange Risk To protect gross margins from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, option contracts or other instruments, and may designate these instruments as cash flow hedges. The Company generally hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases, typically for up to 12 months. To protect the Company\u2019s foreign currency\u2013denominated term debt or marketable securities from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, cross-currency swaps or other instruments. The Company designates these instruments as either cash flow or fair value hedges. As of September 24, 2022, the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for term debt\u2013related foreign currency transactions is 20 years. The Company may also enter into derivative instruments that are not designated as accounting hedges to protect gross margins from certain fluctuations in foreign currency exchange rates, as well as to offset a portion of the foreign currency exchange gains and losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies. Interest Rate Risk To protect the Company\u2019s term debt or marketable securities from fluctuations in interest rates, the Company may enter into interest rate swaps, options or other instruments. The Company designates these instruments as either cash flow or fair value hedges. The notional amounts of the Company\u2019s outstanding derivative instruments as of September 24, 2022 and September 25, 2021 were as follows (in millions): 2022 2021 Derivative instruments designated as accounting hedges: Foreign exchange contracts $ 102,670 $ 76,475 Interest rate contracts $ 20,125 $ 16,875 Derivative instruments not designated as accounting hedges: Foreign exchange contracts $ 185,381 $ 126,918 Apple Inc. | 2022 Form 10-K | 39 The gross fair values of the Company\u2019s derivative assets and liabilities as of September 24, 2022 were as follows (in millions): 2022 Fair Value of Derivatives Designated as Accounting Hedges Fair Value of Derivatives Not Designated as Accounting Hedges Total Fair Value Derivative assets : Foreign exchange contracts $ 4,317 $ 2,819 $ 7,136 Derivative liabilities : Foreign exchange contracts $ 2,205 $ 2,547 $ 4,752 Interest rate contracts $ 1,367 $ \u2014 $ 1,367 (1) Derivative assets are measured using Level 2 fair value inputs and are included in other current assets and other non-current assets in the Consolidated Balance Sheets. (2) Derivative liabilities are measured using Level 2 fair value inputs and are included in other current liabilities and other non-current liabilities in the Consolidated Balance Sheets. The derivative assets above represent the Company\u2019s gross credit exposure if all counterparties failed to perform. To mitigate credit risk, the Company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair values of certain derivatives fluctuate from contractually established thresholds. To further limit credit risk, the Company generally enters into master netting arrangements with the respective counterparties to the Company\u2019s derivative contracts, under which the Company is allowed to settle transactions with a single net amount payable by one party to the other. As of September 24, 2022, the potential effects of these rights of set-off associated with the Company\u2019s derivative contracts, including the effects of collateral, would be a reduction to both derivative assets and derivative liabilities of $7.8 billion, resulting in a net derivative asset of $412 million. The carrying amounts of the Company\u2019s hedged items in fair value hedges as of September 24, 2022 and September 25, 2021 were as follows (in millions): 2022 2021 Hedged assets\\/(liabilities): Current and non-current marketable securities $ 13,378 $ 15,954 Current and non-current term debt $ (18,739) $ (17,857) Accounts Receivable Trade Receivables The Company has considerable trade receivables outstanding with its third-party cellular network carriers, wholesalers, retailers, resellers, small and mid-sized businesses and education, enterprise and government customers. The Company generally does not require collateral from its customers; however, the Company will require collateral or third-party credit support in certain instances to limit credit risk. In addition, when possible, the Company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing, loans or leases to support credit exposure. These credit- financing arrangements are directly between the third-party financing company and the end customer. As such, the Company generally does not assume any recourse or credit risk sharing related to any of these arrangements. As of September 24, 2022, the Company had one customer that represented 10% or more of total trade receivables, which accounted for 10%. The Company\u2019s cellular network carriers accounted for 44% and 42% of total trade receivables as of September 24, 2022 and September 25, 2021, respectively. Vendor Non-Trade Receivables The Company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture subassemblies or assemble final products for the Company. The Company purchases these components directly from suppliers. As of September 24, 2022, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 54% and 13%. As of September 25, 2021, the Company had three vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 52%, 11% and 11%. (1) (2) Apple Inc. | 2022 Form 10-K | 40 Note 4 \u2013 Consolidated Financial Statement Details The following tables show the Company\u2019s consolidated financial statement details as of September 24, 2022 and September 25, 2021 (in millions): Property, Plant and Equipment, Net 2022 2021 Land and buildings $ 22,126 $ 20,041 Machinery, equipment and internal-use software 81,060 78,659 Leasehold improvements 11,271 11,023 Gross property, plant and equipment 114,457 109,723 Accumulated depreciation and amortization (72,340) (70,283) Total property, plant and equipment, net $ 42,117 $ 39,440 Other Non-Current Liabilities 2022 2021 Long-term taxes payable $ 16,657 $ 24,689 Other non-current liabilities 32,485 28,636 Total other non-current liabilities $"} +{"_id": "d4aa099d8", "title": "", "text": "4.10 Officer\u2019s Certificate of the Registrant, dated as of February 23, 2016, including \nforms of global notes representing the Floating Rate Notes due 2019, Floating \nRate Notes due 2021, 1.300% Notes due 2018, 1.700% Notes due 2019, \n2.250% Notes due 2021, 2.850% Notes due 2023, 3.250% Notes due 2026, \n4.500% Notes due 2036 and 4.650% Notes due 2046.8-K 4.1 2/23/16\n4.11 Supplement No. 1 to the Officer\u2019s Certificate of the Registrant, dated as of March \n24, 2016.8-K 4.1 3/24/16\n4.12 Officer\u2019s Certificate of the Registrant, dated as of August 4, 2016, including forms \nof global notes representing the Floating Rate Notes due 2019, 1.100"} +{"_id": "d4aa0550e", "title": "", "text": "Company Stock Performance\nThe following graph shows a comparison of cumulative total shareholder return, calculated on a dividend-reinvested basis, for \nthe Company, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U.S. Technology Supersector \nIndex for the five years ended September\u00a024, 2022 . The graph assumes $100 was invested in each of the Company\u2019s common \nstock, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U.S. Technology Supersector Index as of \nthe market close on September\u00a0 29, 2017 . Past stock price performance is not necessarily indicative of future stock price \nperformance .\nCOMPARISON OF 5-YEAR CUMULATIVE TOTAL RETURN*Among Apple Inc., the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U.S. Technology Supersector IndexApple Inc.S&P 500 IndexS&P Information Technology IndexDow Jones U.S. Technology Supersector Index9/29/179/29/189/28/199/26/209/25/219/24/22$0$100$200$300$400$500\n* $100 invested on September\u00a029, 2017 in stock or index, including reinvestment of dividends. Data points are the last day of \neach fiscal year for the Company\u2019s common stock and September 30th for indexes.\nCopyright\u00a9 2022 Standard & Poor\u2019s, a division of S&P Global. All rights reserved.\nCopyright\u00a9 2022 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved.\nSeptember \n2017September \n2018September \n2019September \n2020September \n2021September \n2022\nApple Inc. $ 100 $ 149 $ 146 $ 303 $ 400 $ 411 \nS&P 500 Index $ 100 $ 118 $ 123 $ 142 $ 184 $ 156 \nS&P Information Technology Index $ 100 $ 131 $ 143 $ 210 $ 271 $ 217 \nDow Jones U.S. Technology Supersector Index $ 100 $ 131 $ 139 $ 208 $ 283 $ 209 \nItem 6. [Reserved]\nApple Inc. | 2022 Form 10-K | 19"} +{"_id": "d4aa19d7e", "title": "", "text": ". Operating income for each segment excludes other income and expense and certain expenses managed outside the reportable segments. Costs excluded from segment operating income include various corporate expenses such as research and development (\u201cR&D\u201d), corporate marketing expenses, certain share-based compensation expenses, income taxes, various nonrecurring charges and other separately managed general and administrative costs. The Company does not include intercompany transfers between segments for management reporting purposes. Note 2 \u2013 Revenue Net sales disaggregated by significant products and services for 2022, 2021 and 2020 were as follows (in millions): 2022 2021 2020 iPhone $ 205,489 $ 191,973 $ 137,781 Mac 40,177 35,190 28,622 iPad 29,292 31,862 23,724 Wearables, Home and Accessories 41,241 38,367 30,620 Services 78,129 68,425 53,768 Total net sales $ 394,328 $ 365,817 $ 274,515 (1) Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales price of the respective product. (2) Wearables, Home and Accessories net sales include sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod mini and accessories. (3) Services net sales include sales from the Company\u2019s advertising, AppleCare, cloud, digital content, payment and other services. Services net sales also include amortization of the deferred value of services bundled in the sales price of certain products. (4) Includes $7.5 billion of revenue recognized in 2022 that was included in deferred revenue as of September 25, 2021, $6.7 billion of revenue recognized in 2021 that was included in deferred revenue as of September 26, 2020, and $5.0 billion of revenue recognized in 2020 that was included in deferred revenue as of September 28, 2019. The Company\u2019s proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 11, \u201cSegment Information and Geographic Data\u201d for 2022, 2021 and 2020, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales in 2022 and 2021. As of September 24, 2022 and September 25, 2021, the Company had total deferred revenue of $12.4 billion and $11.9 billion, respectively. As of September 24, 2022, the Company expects 64% of total deferred revenue to be realized in less than a year, 27% within one-to-two years, 7% within two-to-three years and 2% in greater than three years. (1) (1) (1) (1)(2) (3) (4) Apple Inc. | 2022 Form 10-K | 37 Note 3 \u2013 Financial Instruments Cash, Cash Equivalents and Marketable Securities The following tables show the Company\u2019s cash, cash equivalents and marketable securities by significant investment category as of September 24, 2022 and September 25, 2021 (in millions): 2022 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Current Marketable Securities Non-Current Marketable Securities Cash $ 18,546 $ \u2014 $ \u2014 $ 18,546 $ 18,546 $ \u2014 $ \u2014 Level 1 : Money market funds 2,929 \u2014 \u2014 2,929 2,929 \u2014 \u2014 Mutual funds 274 \u2014 (47) 227 \u2014 227 \u2014 Subtotal 3,203 \u2014 (47) 3,156 2,929 227 \u2014 Level 2 : U.S. Treasury securities 25,134 \u2014 (1,725) 23,409 338 5,091 17,980 U.S. agency securities 5,823 \u2014 (655) 5,168 \u2014 240 4,928 Non-U.S. government securities 16,948 2 (1,201) 15,749 \u2014 8,806 6,943 Certificates of deposit and time deposits 2,067 \u2014 \u2014 2,067 1,805 262 \u2014 Commercial paper 718 \u2014 \u2014 718 28 690 \u2014 Corporate debt securities 87,148 9 (7,707) 79,450 \u2014 9,023 70,427 Municipal securities 921 \u2014 (35) 886 \u2014 266 620 Mortgage- and asset-backed securities 22,553 \u2014 (2,593) 19,960 \u2014 53 19,907 Subtotal 161,312 11 (13,916) 147,407 2,171 24,431 120,805 Total $ 183,061 $ 11 $ (13,963) $ 169,109 $ 23,646 $ 24,658 $ 120,805 2021 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Current Marketable Securities Non-Current Marketable Securities Cash $ 17,305 $ \u2014 $ \u2014 $ 17,305 $ 17,305 $ \u2014 $ \u2014 Level 1 : Money market funds 9,608 \u2014 \u2014 9,608 9,608 \u2014 \u2014 Mutual funds 175 11 (1) 185 \u2014 185 \u2014 Subtotal 9,783 11 (1) 9,793 9,608 185 \u2014 Level 2 : Equity securities 1,527 \u2014 (564) 963 \u2014 963 \u2014 U.S. Treasury securities 22,878 102 (77) 22,903 3,596 6,625 12,682 U.S. agency securities 8,949 2 (64) 8,887 1,775 1,930 5,182 Non-U.S. government securities 20,201 211 (101) 20,311 390 3,091 16,830 Certificates of deposit and time deposits 1,300 \u2014 \u2014 1,300 490 810 \u2014 Commercial paper 2,639 \u2014 \u2014 2,639 1,776 863 \u2014 Corporate debt securities 83,883 1,242 (267) 84,858 \u2014 12,327 72,531 Municipal securities 967 14 \u2014 981 \u2014 130 851 Mortgage- and asset-backed securities 20,529 171 (124) 20,576 \u2014 775 19,801 Subtotal 162,873 1,742 (1,197) 163,418 8,027 27,514 127,877 Total $ 189,961 $ 1,753 $ (1,198) $ 190,516 $ 34,940 $ 27,699 $ 127,877 (1) Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities. (2) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or"} +{"_id": "d4aa05ebe", "title": "", "text": "cancelable obligations related to internet services and content creation. As of \nSeptember\u00a024, 2022 , the Company had other purchase obligations of $17.8 billion, with $6.8 billion payable within 12 months.\nDeemed Repatriation Tax Payable\nAs of September\u00a024, 2022 , the balance of the deemed repatriation tax payable imposed by the U.S. Tax Cuts and Jobs Act of \n2017 (the \u201cAct\u201d) was $22.0\u00a0billion , with $5.3\u00a0billion expected to be paid within 12 months.\nIn addition to its contractual cash requirements, the Company has a capital return program authorized by the Board of Directors . \nThe Program does not obligate the Company to acquire a minimum amount of shares. As of September\u00a0 24, 2022 , the \nCompany\u2019s quarterly cash dividend was $0.23 per share. The Company intends to increase its dividend on an annual"} +{"_id": "d4aa095be", "title": "", "text": "Item 9B. Other Information\nRule 10b5-1 Trading Plans\nDuring the three months ended September\u00a024, 2022 , Katherine L. Adams, Timothy D. Cook, Luca Maestri, Deirdre O\u2019Brien and \nJeffrey Williams, each an officer for purposes of Section 16 of the Exchange Act, had equity trading plans in place in accordance \nwith Rule 10b5-1(c)(1) under the Exchange Act. An equity trading plan is a written document that preestablishes the amounts, \nprices and dates (or formula for determining the amounts, prices and dates) of future purchases or sales of the Company\u2019s stock, \nincluding sales of shares acquired under the Company\u2019s employee and director equity plans.\nItem 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections\nNot applicable.\nPART III\nItem 10. Directors, Executive Officers and Corporate Governance\nThe information"} +{"_id": "d4aa007c0", "title": "", "text": ". As a result, the Company\u2019s operations and performance depend \nsignificantly on global and regional economic conditions.\nAdverse macroeconomic conditions, including inflation, slower growth or recession, new or increased tariffs and other barriers to \ntrade, changes to fiscal and monetary policy, tighter credit, higher interest rates, high unemployment and currency fluctuations \ncan adversely impact consumer confidence and spending and materially adversely affect demand for the Company\u2019s products \nand services. In addition, consumer confidence and spending can be materially adversely affected in response to financial \nmarket volatility, negative financial news, conditions in the real estate and mortgage markets, declines in income or asset values, \nenergy shortages and cost increases, labor and healthcare costs and other economic factors. \nIn addition to an adverse impact on demand for the Company\u2019s products, uncertainty about, or a decline in, global or regional \neconomic conditions can have a significant impact on the Company\u2019s suppliers"} +{"_id": "d4a9fff3c", "title": "", "text": "Apple Inc.\nForm 10-K\nFor the Fiscal Year Ended September\u00a024, 2022\nTABLE OF CONTENTS\nPage\nPart I\nItem 1. Business 1\nItem 1A. Risk Factors 5\nItem 1B. Unresolved Staff Comments 17\nItem 2. Properties 17\nItem 3. Legal Proceedings 17\nItem 4. Mine Safety Disclosures 17\nPart II\nItem 5. Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity \nSecurities18\nItem 6. [Reserved] 19\nItem 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations 20\nItem 7A. Quantitative and Qualitative Disclosures About Market Risk 26\nItem 8. Financial Statements and Supplementary Data 28\nItem 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 53\nItem 9A. Controls and Procedures 53\nItem 9B. Other Information"} +{"_id": "d4aa01cf6", "title": "", "text": "s culture, reputation and operational flexibility.\nThe Company believes that its distinctive and inclusive culture is a significant driver of its success. If the C ompany is unable to \nnurture its culture, it could materially adversely affect the Company\u2019s ability to recruit and retain the highly skilled employees who \nare critical to its success, and could otherwise materially adversely affect the Company\u2019s business, reputation, results of \noperations and financial condition.\nThe Company depends on the performance of carriers, wholesalers, retailers and other resellers.\nThe Company distributes its products and certain of its services through cellular network carriers, wholesalers, retailers and \nresellers, many of which distribute products and services from competitors. The Company also sells its products and services \nand resells third-party products in most of its major markets directly to consumers, small and mid-sized businesses, and \neducation, enterprise and government customers"} +{"_id": "d4aa06030", "title": "", "text": "\ufffds Board of Directors, and the Company\u2019s share repurchase program does not obligate it \nto acquire any specific number of shares. If the Company fails to meet expectations related to future growth, profitability, \ndividends, share repurchases or other market expectations, the price of the Company\u2019s stock may decline significantly, which \ncould have a material adverse impact on investor confidence and employee retention.\nItem 1B. Unresolved Staff Comments\nNone.\nItem 2. Properties\nThe Company\u2019s headquarters are located in Cupertino, California. As of September\u00a024, 2022 , the Company owned or leased \nfacilities and land for corporate functions, R&D, data centers, retail and other purposes at locations throughout the U.S. and in \nvarious places outside the U.S. The Company believes its existing facilities and equipment, which are used by all reportable \nsegments,"} +{"_id": "d4aa08fa6", "title": "", "text": "How We Addressed the\nMatter in Our AuditWe tested controls relating to the evaluation of uncertain tax positions, including controls \nover management\u2019s assessment as to whether tax positions are more likely than not to be \nsustained, management\u2019s process to measure the benefit of its tax positions, and the \ndevelopment of the related disclosures.\nTo evaluate Apple Inc.\u2019s assessment of which tax positions are more likely than not to be \nsustained, our audit procedures included, among others, reading and evaluating \nmanagement\u2019s assumptions and analysis, and, as applicable, Apple Inc.\u2019s communications \nwith taxing authorities, that detailed the basis and technical merits of the uncertain tax \npositions. We involved our tax subject matter resources in assessing the technical merits of \ncertain of Apple Inc.\u2019s tax positions based on our knowledge of relevant tax laws and \nexperience with related taxing authorities. For certain tax positions, we also received \nexternal legal counsel confirmation letters and discussed the matters with external advisors \nand Apple Inc. tax personnel. In addition, we evaluated Apple Inc.\u2019s disclosure in relation to \nthese matters included in Note 5 to the financial statements.\n/s/ Ernst & Young LLP\nWe have served as Apple Inc.\u2019s auditor since 2009.\nSan Jose, California\nOctober\u00a027, 2022\nApple Inc. | 2022 Form 10-K | 51"} +{"_id": "d4aa07db8", "title": "", "text": "ase liabilities 2,400 2,406 \nDeferred revenue 5,742 5,399 \nUnrealized losses 2,913 53 \nTax credit carryforwards 6,962 4,262 \nOther 1,596 1,639 \nTotal deferred tax assets 27,624 25,229 \nLess: Valuation allowance (7,530) (4,903) \nTotal deferred tax assets, net 20,094 20,326 \nDeferred tax liabilities:\nMinimum tax on foreign earnings 1,983 4,318 \nRight-of-use assets 2,163 2,167 \nUnrealized gains 942 203 \nOther 469 565 \nTotal deferred tax liabilities 5,557 7,253 \nNet deferred tax assets $ 14,537 $"} +{"_id": "d4aa10cc4", "title": "", "text": "Exhibit 31.2\nCERTIFICATION\nI, Luca Maestri, certify that:\n1.I have reviewed this annual report on Form 10-K of Apple Inc.;\n2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact \nnecessary to make the statements made, in light of the circumstances under which such statements were made, not \nmisleading with respect to the period covered by this report;\n3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all \nmaterial respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods \npresented in this report;\n4.The Registrant\u2019s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and \nprocedures (as defined in Exchange Act"} +{"_id": "d4aa068fa", "title": "", "text": "Apple Inc.\nCONSOLIDATED BALANCE SHEETS\n(In millions, except number of shares which are reflected in thousands and par value)\nSeptember 24,\n2022September 25,\n2021\nASSETS:\nCurrent assets:\nCash and cash equivalents $ 23,646 $ 34,940 \nMarketable securities 24,658 27,699 \nAccounts receivable, net 28,184 26,278 \nInventories 4,946 6,580 \nVendor non-trade receivables 32,748 25,228 \nOther current assets 21,223 14,111 \nTotal current assets 135,405 134,836 \nNon-current assets:\nMarketable securities 120,805 127,877 \nProperty, plant and equipment, net 42,117 39,440 \nOther non-current assets 54,428"} +{"_id": "d4aa10922", "title": "", "text": " 2031 Notes).\n7"} +{"_id": "d4aa01620", "title": "", "text": "The Company\u2019s new products often utilize custom components available from only one source. When a component or product \nuses new technologies, initial capacity constraints may exist until the suppliers\u2019 yields have matured or their manufacturing \ncapacities have increased. The continued availability of these components at acceptable prices, or at all, can be affected for any \nnumber of reasons, including if suppliers decide to concentrate on the production of common components instead of components \ncustomized to meet the Company\u2019s requirements. When the Company\u2019s supply of components for a new or existing product has \nbeen delayed or constrained, or when an outsourcing partner has delayed shipments of completed products to the Company, the \nCompany\u2019s business, results of operations and financial condition have been adversely affected and future delays or constraints \ncould materially adversely affect the Company\u2019s business, results of operations and financial condition. The Company\u2019s business \nand financial performance could also"} +{"_id": "d4aa0839e", "title": "", "text": "Note 7 \u2013 Debt\nCommercial Paper and Repurchase Agreements\nThe Company issues unsecured short-term promissory notes (\u201cCommercial Paper\u201d) pursuant to a commercial paper program. \nThe Company uses net proceeds from the commercial paper program for general corporate purposes, including dividends and \nshare repurchases. As of September\u00a0 24, 2022 and September\u00a0 25, 2021 , the Company had $10.0 billion and $6.0 billion of \nCommercial Paper outstanding, respectively, with maturities generally less than nine months . The weighted-average interest rate \nof the Company\u2019s Commercial Paper was 2.31% and 0.06% as of September\u00a024, 2022 and September\u00a025, 2021 , respectively. \nThe following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for \n2022 , 2021 and 2020 (in millions"} +{"_id": "d4aa0822c", "title": "", "text": " \nTotal lease liabilities $ 12,411 $ 11,803 \nLease liability maturities as of September\u00a024, 2022 , are as follows (in millions):\nOperating\nLeasesFinance\nLeases Total\n2023 $ 1,758 $ 155 $ 1,913 \n2024 1,742 130 1,872 \n2025 1,677 81 1,758 \n2026 1,382 48 1,430 \n2027 1,143 34 1,177 \nThereafter 5,080 906 5,986 \nTotal undiscounted liabilities 12,782 1,354 14,136 \nLess: Imputed interest (1,312) (413) (1,725) \nTotal lease liabilities $ 11,470 $ 941 $ 12,411 \nThe weighted-average"} +{"_id": "d4aa05be4", "title": "", "text": " example, \nthe gross margins on the Company\u2019s products and services vary significantly and can change over time. The Company\u2019s gross \nmargins are subject to volatility and downward pressure due to a variety of factors, including: continued industry-wide global \nproduct pricing pressures and product pricing actions that the Company may take in response to such pressures; increased \ncompetition; the Company\u2019s ability to effectively stimulate demand for certain of its products and services; compressed product \nlife cycles; supply shortages; potential increases in the cost of components, outside manufacturing services, and developing, \nacquiring and delivering content for the Company\u2019s services; the Company\u2019s ability to manage product quality and warranty costs \neffectively; shifts in the mix of products and services, or in the geographic, currency or channel mix, including to the extent that \nregulatory changes require the Company to modify its product and service offerings; fluctuations in foreign exchange rates; \ninflation and other macroeconomic pressures; and the introduction of new products or services, including new products or \nservices with higher cost structures. These and other factors could have a materially adverse impact on the Company\u2019s results of \noperations and financial condition.\nThe Company has historically experienced higher net sales in its first quarter compared to other quarters in its fiscal year due in \npart to seasonal holiday demand. Additionally, new product and service introductions can significantly impact net sales, cost of \nsales and operating expenses. Further, the Company generates a significant portion of its net sales from a single product and a \ndecline in demand for that product could significantly impact quarterly net sales. The Company could also be subject to \nunexpected developments, such as lower-than-anticipated demand for the Company\u2019s products or services, issues with new \nproduct or service introductions, information technology system failures or network disruptions, or failure of one of the \nCompany\u2019s logistics, components supply, or manufacturing partners.\nApple Inc. | 2022 Form 10-K | 15"} +{"_id": "d4aa093e8", "title": "", "text": "A company\u2019s internal control over financial reporting is a process designed to provide reasonable assurance regarding the \nreliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. \ngenerally accepted accounting principles. A company\u2019s internal control over financial reporting includes those policies and \nprocedures that (1)\u00a0pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions \nand dispositions of the assets of the company; (2)\u00a0provide reasonable assurance that transactions are recorded as necessary to \npermit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts \nand expenditures of the company are being made only in accordance with authorizations of management and directors of the \ncompany; and (3)\u00a0provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or \ndisposition of the company\u2019"} +{"_id": "d4aa08664", "title": "", "text": " in the Director Plan and without further \nshareholder approval. RSUs granted under the Director Plan reduce the number of shares available for grant under the plan by a \nfactor of two times the number of RSUs granted. The Director Plan expires on November 12, 2027 . All RSUs granted under the \nDirector Plan are entitled to DERs, which are subject to the same vesting and other terms and conditions as the underlying \nRSUs. A maximum of approximately 45 million shares (split-adjusted) were authorized for issuance pursuant to Director Plan \nawards at the time the plan was last amended on November 9, 2021.\nEmployee Stock Purchase Plan\nThe Employee Stock Purchase Plan (the \u201cPurchase Plan\u201d) is a shareholder-approved plan under which substantially all \nemployees may voluntarily enroll to purchase the Company\u2019s common stock through payroll deductions at a price equal to 85% \nof the lower of the fair"} +{"_id": "d4aa087cc", "title": "", "text": " $18.2 billion , $19.0 billion and $10.8 billion for 2022 , 2021 and \n2020 , respectively. The majority of RSUs that vested in 2022 , 2021 and 2020 were net share settled such that the Company \nwithheld shares with a value equivalent to the employees\u2019 obligation for the applicable income and other employment taxes, and \nremitted the cash to the appropriate taxing authorities. The total shares withheld were approximately 41 million , 53 million and 56 \nmillion for 2022 , 2021 and 2020 , respectively, and were based on the value of the RSUs on their respective vesting dates as \ndetermined by the Company\u2019s closing stock price. Total payments to taxing authorities for employees\u2019 tax obligations were $6.4 \nbillion , $6.8 billion and $3.9 billion in 2022 , 2021 and 2020 , respectively.\nApple Inc. | 2022"} +{"_id": "d4aa0b6fc", "title": "", "text": ", in relation to any Comparable Government Bond Rate calculation \nfor the 2022 Notes, the 2024 Notes, the 2026 Notes and the 2027 Notes, at the discretion of an independent \ninvestment bank selected by us, a German government bond whose maturity is closest to the maturity of the Notes \nbeing redeemed, or if such independent investment bank in its discretion determines that such similar bond is not in \nissue, such other German government bond as such independent investment bank may, with the advice of three \nbrokers of, and/or market makers in, German government bonds selected by us, determine to be appropriate for \ndetermining the Comparable Government Bond Rate.\n\u201cComparable Government Bond\u201d means, in relation to any Comparable Government Bond Rate calculation \nfor the 3.050% 2029 Notes and the 2042 Notes, at the discretion of an independent investment bank selected by us, \na United Kingdom government bond whose maturity"} +{"_id": "d4aa0a40a", "title": "", "text": " meeting of shareholders or to nominate \ncandidates for election as directors at a meeting of shareholders must provide notice in writing in a \ntimely manner, and also specify requirements as to the form and content of a shareholder\u2019s notice, \nincluding with respect to a shareholder\u2019s notice under Rule 14a-19 of the Exchange Act;\n\u2022provide that a shareholder, or group of up to 20 shareholders, that has owned continuously for at least \nthree years shares of Common Stock representing an aggregate of at least 3% of the Company\u2019s \noutstanding shares of Common Stock, may nominate and include in the Company\u2019s proxy materials \ndirector nominees constituting up to 20% of the Company\u2019s Board of Directors, provided that the \nshareholder(s) and nominee(s) satisfy the requirements in the Bylaws;\n\u2022do not provide for cumulative voting rights for the election of directors; and\n"} +{"_id": "d4aa04e60", "title": "", "text": "Uncertain Tax Positions\nAs of September\u00a0 24, 2022 , the total amount of gross unrecognized tax benefits was $16.8 billion , of which $8.0 billion , if \nrecognized, would impact the Company\u2019s effective tax rate. As of September\u00a025, 2021 , the total amount of gross unrecognized \ntax benefits was $15.5 billion , of which $6.6 billion , if recognized, would have impacted the Company\u2019s effective tax rate.\nThe aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2022 , 2021 \nand 2020 , is as follows (in millions):\n2022 2021 2020\nBeginning balances $ 15,477 $ 16,475 $ 15,619 \nIncreases related to tax positions taken during a prior year 2,284 816 454 \nDecreases related to tax positions taken during a prior year (1"} +{"_id": "d4aa01a12", "title": "", "text": "The Company\u2019s future performance depends in part on support from third-party software developers.\nThe Company believes decisions by customers to purchase its hardware products depend in part on the availability of third-party \nsoftware applications and services. There can be no assurance third-party developers will continue to develop and maintain \nsoftware applications and services for the Company\u2019s products. If third-party software applications and services cease to be \ndeveloped and maintained for the Company\u2019s products, customers may choose not to buy the Company\u2019s products.\nThe Company believes the availability of third-party software applications and services for its products depends in part on the \ndevelopers\u2019 perception and analysis of the relative benefits of developing, maintaining and upgrading such software and services \nfor the Company\u2019s products compared to competitors\u2019 platforms, such as Android for smartphones and tablets, Windows for \npersonal computers and tablets, and PlayStation, Nintendo and Xbox for gaming"} +{"_id": "d4aa075a2", "title": "", "text": "Note 3 \u2013 Financial Instruments\nCash, Cash Equivalents and Marketable Securities\nThe following tables show the Company\u2019s cash, cash equivalents and marketable securities by significant investment category \nas of September\u00a024, 2022 and September\u00a025, 2021 (in millions):\n2022\nAdjusted\nCostUnrealized\nGainsUnrealized\nLossesFair\nValueCash and\nCash\nEquivalentsCurrent\nMarketable\nSecuritiesNon-Current\nMarketable\nSecurities\nCash $ 18,546 $ \u2014 $ \u2014 $ 18,546 $ 18,546 $ \u2014 $ \u2014 \nLevel 1 (1):\nMoney market funds 2,929 \u2014 \u2014 2,929 2,929 \u2014 \u2014 \nMutual funds 274 \u2014 (47) 227 \u2014 227 \u2014 \nSubtotal 3,203 \u2014 (47) 3,156 2,929 227 \u2014 \nLevel 2 (2):\nU.S. Treasury securities 25,134 \u2014 (1,725) 23,409 338 5,091 17,980 \nU.S. agency securities 5,823 \u2014 (655) 5,168 \u2014 240 4,928 \nNon-U.S. government securities 16,948 2 (1,201) 15,749 \u2014 8,806 6,943 \nCertificates of deposit and time deposits 2,067 \u2014 \u2014 2,067 1,805 262 \u2014 \nCommercial paper 718 \u2014 \u2014 718 28 690 \u2014 \nCorporate debt securities 87,148 9 (7,707) 79,450 \u2014 9,023 70,427 \nMunicipal securities 921 \u2014 (35) 886 \u2014 266 620 \nMortgage- and asset-backed securities 22,553 \u2014 (2,593) 19,960 \u2014 53 19,907 \nSubtotal 161,312 11 (13,916) 147,407 2,171 24,431 120,805 \nTotal (3)$ 183,061 $ 11 $ (13,963) $ 169,109 $ 23,646 $ 24,658 $ 120,805 \n2021\nAdjusted\nCostUnrealized\nGainsUnrealized\nLossesFair\nValueCash and\nCash\nEquivalentsCurrent\nMarketable\nSecuritiesNon-Current\nMarketable\nSecurities\nCash $ 17,305 $ \u2014 $ \u2014 $ 17,305 $ 17"} +{"_id": "d4aa01440", "title": "", "text": "Business Risks\nTo remain competitive and stimulate customer demand, the Company must successfully manage frequent introductions \nand transitions of products and services.\nDue to the highly volatile and competitive nature of the markets and industries in which the Company competes, the Company \nmust continually introduce new products, services and technologies, enhance existing products and services, effectively \nstimulate customer demand for new and upgraded products and services, and successfully manage the transition to these new \nand upgraded products and services. The success of new product and service introductions depends on a number of factors, \nincluding timely and successful development, market acceptance, the Company\u2019s ability to manage the risks associated with \nproduction ramp-up issues, the availability of application software for the Company\u2019s products, the effective management of \npurchase commitments and inventory levels in line with anticipated product demand, the availability of products in appropriate \nquantities and at expected costs to meet anticipated demand, and"} +{"_id": "d4aa0abd0", "title": "", "text": " Additional Amounts\nThe terms of the Notes state that all payments of principal and interest in respect of the Notes will be made \nfree and clear of, and without deduction or withholding for or on account of any present or future taxes, duties, \nassessments or other governmental charges of whatsoever nature required to be deducted or withheld by the United \nStates or any political subdivision or taxing authority of or in the United States, unless such withholding or deduction \nis required by law.\nAll of the Notes also contain a covenant substantially similar to the following:\nThe Company will, subject to the exceptions and limitations set forth below, pay as additional interest on the \nNotes such additional amounts (\u201cAdditional Amounts\u201d) as are necessary in order that the net payment by the \nCompany or the paying agent of the Company for the applicable Notes (\u201cPaying Agent\u201d) of the principal of and \ninterest on the Notes to a holder who"} +{"_id": "d4aa01b7a", "title": "", "text": " for the Company to license or otherwise distribute their content. Other content owners, providers or distributors may \nseek to limit the Company\u2019s access to, or increase the cost of, such content. The Company may be unable to continue to offer a \nwide variety of content at commercially reasonable prices with acceptable usage rules.\nThe Company also produces its own digital content, which can be costly to produce due to intense and increasing competition for \ntalent, content and subscribers, and may fail to appeal to the Company\u2019s customers. The COVID-19 pandemic has also caused \nadditional restrictions on production and increased costs for digital content.\nSome third-party digital content providers require the Company to provide digital rights management and other security solutions. \nIf requirements change, the Company may have to develop or license new technology to provide these solutions. There can be \nno assurance the Company will be able to develop or license such solutions at a reasonable cost and"}