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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF ..., Slides of Financial Statement Analysis

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

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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
Twelve Months Ended
September 25,
2021
September 26,
2020
September 25,
2021
September 26,
2020
Net sales:
Products
$
$
$
$
Services
18,277
14,549
68,425
53,768
To ta l n e t s a l e s
(1)
83,360
64,698
365,817
274,515
Cost of sales:
Products
42,790
35,197
192,266
151,286
Services
5,396
4,812
20,715
18,273
To ta l c o s t o f s a l e s
48,186
40,009
212,981
169,559
Gross margin
35,174
24,689
152,836
104,956
Operating expenses:
Research and development
5,772
4,978
21,914
18,752
Selling, general and administrative
5,616
4,936
21,973
19,916
To ta l o p e r a t i n g ex p e n s e s
11,388
9,914
43,887
38,668
Operating income
23,786
14,775
108,949
66,288
Other income/(expense), net
(538)
126
258
803
Income before provision for income taxes
23,248
14,901
109,207
67,091
Provision for income taxes
2,697
2,228
14,527
9,680
Net income
$
$
$
$
Earnings per share:
Basic
$
$
$
$
Diluted
$
$
$
$
Shares used in computing earnings per share:
Basic
16,487,121
17,057,622
16,701,272
17,352,119
Diluted
16,635,097
17,256,521
16,864,919
17,528,214
(1) Net sales by reportable segment:
Americas
$
$
$
$
Europe
20,794
16,900
89,307
68,640
Greater China
14,563
7,9 4 6
68,366
40,308
Japan
5,991
5,023
28,482
21,418
Rest of Asia Pacific
5,192
4,131
26,356
19,593
To ta l n e t s a l e s
$
$
$
$
(1)
Net sales by category:
iPhone
$
$
$
$
Mac
9,178
9,032
35,190
28,622
iPad
8,252
6,797
31,862
23,724
Wea rabl es, Ho me a nd Acc esso rie s
8,785
7,8 7 6
38,367
30,620
Services
18,277
14,549
68,425
53,768
To ta l n e t s a l e s
$
$
$
$
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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 Twelve Months Ended September 25, 2021 September 26, 2020 September 25, 2021 September 26, 2020 Net sales: Products $ 65,083 $ 50,149 $ 297,392 $ 220, Services 18,277 14,549 68,425 53, Total net sales (1)^ 83,360^ 64,698^ 365,817^ 274, Cost of sales: Products 42,790 35,197 192,266 151, Services 5,396 4,812 20,715 18, Total cost of sales 48,186^ 40,009^ 212,981^ 169, Gross margin 35,174^ 24,689^ 152,836^ 104, Operating expenses: Research and development 5,772 4,978 21,914 18, Selling, general and administrative 5,616 4,936 21,973 19, Total operating expenses 11,388^ 9,914^ 43,887^ 38, Operating income 23,786 14,775 108,949 66, Other income/(expense), net (538) 126 258 803 Income before provision for income taxes 23,248^ 14,901^ 109,207^ 67, Provision for income taxes 2,697 2,228 14,527 9, Net income $^ 20,551^ $^ 12,673^ $^ 94,680^ $^ 57, Earnings per share: Basic $ 1.25 $ 0.74 $ 5.67 $ 3. Diluted $ 1.24 $ 0.73 $ 5.61 $ 3. Shares used in computing earnings per share: Basic 16,487,121 17,057,622 16,701,272 17,352, Diluted 16,635,097 17,256,521 16,864,919 17,528, (1) (^) Net sales by reportable segment: Americas $ 36,820 $ 30,698 $ 153,306 $ 124, Europe 20,794 16,900 89,307 68, Greater China 14,563 7,946 68,366 40, Japan 5,991 5,023 28,482 21, Rest of Asia Pacific 5,192 4,131 26,356 19, Total net sales $^ 83,360^ $^ 64,698^ $^ 365,817^ $^ 274, (1) (^) Net sales by category: iPhone $ 38,868 $ 26,444 $ 191,973 $ 137, Mac 9,178 9,032 35,190 28, iPad 8,252 6,797 31,862 23, Wearables, Home and Accessories 8,785 7,876 38,367 30, Services 18,277 14,549 68,425 53, Total net sales $^ 83,360^ $^ 64,698^ $^ 365,817^ $^ 274,

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares which are reflected in thousands and par value) September 25, 2021 September 26, 2020 ASSETS: Current assets: Cash and cash equivalents $ 34,940 $ 38, Marketable securities 27,699 52, Accounts receivable, net 26,278 16, Inventories 6,580 4, Vendor non-trade receivables 25,228 21, Other current assets 14,111 11, Total current assets 134,836^ 143, Non-current assets: Marketable securities 127,877 100, Property, plant and equipment, net 39,440 36, Other non-current assets 48,849 42, Total non-current assets 216,166^ 180, Total assets $^ 351,002^ $^ 323, LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities: Accounts payable $ 54,763 $ 42, Other current liabilities 47,493 42, Deferred revenue 7,612 6, Commercial paper 6,000 4, Term debt 9,613 8, Total current liabilities 125,481^ 105, Non-current liabilities: Term debt 109,106 98, Other non-current liabilities 53,325 54, Total non-current liabilities 162,431^ 153, Total liabilities 287,912^ 258, Commitments and contingencies Shareholders’ equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,426,786 and 16,976,763 shares issued and outstanding, respectively 57,365^ 50, Retained earnings 5,562 14, Accumulated other comprehensive income/(loss) 163 (406) Total shareholders’ equity 63,090^ 65, Total liabilities and shareholders’ equity $^ 351,002^ $^ 323,