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21-07-27 Apple Reports Third Quarter Results, Exercises of Financial Statement Analysis

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited). (In millions, except number of shares which are reflected in thousands and per share amounts).

Typology: Exercises

2021/2022

Uploaded on 09/27/2022

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Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(In millions, except number of shares which are reflected in thousands and per share amounts)
Three Months Ended
Nine Months Ended
June 26,
2021
June 27,
2020
June 26,
2021
June 27,
2020
Net sales:
Products
$
63,948
$
46,529
$
232,309
$
170,598
Services
17,486
13,156
50,148
39,219
Total net sales (1)
81,434
59,685
282,457
209,817
Cost of sales:
Products
40,899
32,693
149,476
116,089
Services
5,280
4,312
15,319
13,461
Total cost of sales
46,179
37,005
164,795
129,550
Gross margin
35,255
22,680
117,662
80,267
Operating expenses:
Research and development
5,717
4,758
16,142
13,774
Selling, general and administrative
5,412
4,831
16,357
14,980
Total operating expenses
11,129
9,589
32,499
28,754
Operating income
24,126
13,091
85,163
51,513
Other income/(expense), net
243
46
796
677
Income before provision for income taxes
24,369
13,137
85,959
52,190
Provision for income taxes
2,625
1,884
11,830
7,452
Net income
$
21,744
$
11,253
$
74,129
$
44,738
Earnings per share:
Basic
$
1.31
$
0.65
$
4.42
$
2.56
Diluted
$
1.30
$
0.65
$
4.38
$
2.54
Shares used in computing earnings per share:
Basic
16,629,371
17,250,291
16,772,656
17,450,284
Diluted
16,781,735
17,419,154
16,941,527
17,618,778
(1) Net sales by reportable segment:
Americas
$
35,870
$
27,018
$
116,486
$
93,858
Europe
18,943
14,173
68,513
51,740
Greater China
14,762
9,329
53,803
32,362
Japan
6,464
4,966
22,491
16,395
Rest of Asia Pacific
5,395
4,199
21,164
15,462
Total net sales
$
81,434
$
59,685
$
282,457
$
209,817
(1) Net sales by category:
iPhone
$
39,570
$
26,418
$
153,105
$
111,337
Mac
8,235
7,079
26,012
19,590
iPad
7,368
6,582
23,610
16,927
Wearables, Home and Accessories
8,775
6,450
29,582
22,744
Services
17,486
13,156
50,148
39,219
Total net sales
$
81,434
$
59,685
$
282,457
$
209,817
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares which are reflected in thousands and per share amounts) Three Months Ended Nine Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Net sales: Products $ 63,948 $ 46,529 $ 232,309 $ 170, Services 17,486 13,156 50,148 39, Total net sales (1)^ 81,434^ 59,685^ 282,457^ 209, Cost of sales: Products 40,899 32,693 149,476 116, Services 5,280 4,312 15,319 13, Total cost of sales 46,179^ 37,005^ 164,795^ 129, Gross margin 35,255^ 22,680^ 117,662^ 80, Operating expenses: Research and development 5,717 4,758 16,142 13, Selling, general and administrative 5,412 4,831 16,357 14, Total operating expenses 11,129^ 9,589^ 32,499^ 28, Operating income 24,126 13,091 85,163 51, Other income/(expense), net 243 46 796 677 Income before provision for income taxes 24,369^ 13,137^ 85,959^ 52, Provision for income taxes 2,625 1,884 11,830 7, Net income $ 21,744 $ 11,253 $ 74,129 $ 44, Earnings per share: Basic $ 1.31 $ 0.65 $ 4.42 $ 2. Diluted $ 1.30 $ 0.65 $ 4.38 $ 2. Shares used in computing earnings per share: Basic 16,629,371 17,250,291 16,772,656 17,450, Diluted 16,781,735 17,419,154 16,941,527 17,618, (1) (^) Net sales by reportable segment: Americas $ 35,870 $ 27,018 $ 116,486 $ 93, Europe 18,943 14,173 68,513 51, Greater China 14,762 9,329 53,803 32, Japan 6,464 4,966 22,491 16, Rest of Asia Pacific 5,395 4,199 21,164 15, Total net sales $^ 81,434^ $^ 59,685^ $^ 282,457^ $^ 209, (1) (^) Net sales by category: iPhone $ 39,570 $ 26,418 $ 153,105 $ 111, Mac 8,235 7,079 26,012 19, iPad 7,368 6,582 23,610 16, Wearables, Home and Accessories 8,775 6,450 29,582 22, Services 17,486 13,156 50,148 39, Total net sales $^ 81,434^ $^ 59,685^ $^ 282,457^ $^ 209,

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares which are reflected in thousands and par value) June 26, 2021 September 26, 2020 ASSETS: Current assets: Cash and cash equivalents $ 34,050 $ 38, Marketable securities 27,646 52, Accounts receivable, net 17,475 16, Inventories 5,178 4, Vendor non-trade receivables 16,433 21, Other current assets 13,641 11, Total current assets 114,423^ 143, Non-current assets: Marketable securities 131,948 100, Property, plant and equipment, net 38,615 36, Other non-current assets 44,854 42, Total non-current assets 215,417^ 180, Total assets $^ 329,840^ $^ 323, LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities: Accounts payable $ 40,409 $ 42, Other current liabilities 43,625 42, Deferred revenue 7,681 6, Commercial paper 8,000 4, Term debt 8,039 8, Total current liabilities 107,754^ 105, Non-current liabilities: Term debt 105,752 98, Other non-current liabilities 52,054 54, Total non-current liabilities 157,806^ 153, Total liabilities 265,560^ 258, Commitments and contingencies Shareholders’ equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,556,942 and 16,976,763 shares issued and outstanding, respectively 54,989^ 50, Retained earnings 9,233 14, Accumulated other comprehensive income/(loss) 58 (406) Total shareholders’ equity 64,280^ 65, Total liabilities and shareholders’ equity $ 329,840 $ 323,