Apple Inc. UNAUDITED CONDENSED CONSOLIDATED …

[Pages:3]Apple Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts)

Net sales Cost of sales (1)

Gross margin

Operating expenses: Research and development (1) Selling, general and administrative (1) Total operating expenses

Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income

Earnings per share: Basic Diluted

Shares used in computing earnings per share: Basic Diluted

Cash dividends declared per share

(1) Includes share-based compensation expense as follows: Cost of sales Research and development Selling, general and administrative

Three Months Ended

June 25, 2016

$ 42,358 26,252

June 27, 2015

$ 49,605 29,924

16,106

19,681

Nine Months Ended

June 25, 2016

$ 168,787 102,337

June 27, 2015

$ 182,214 109,136

66,450

73,078

2,560 3,441 6,001

2,034 3,564 5,598

7,475 10,712 18,187

5,847 10,624 16,471

10,105

14,083

48,263

56,607

364

390

921

846

10,469 2,673

14,473 3,796

49,184 12,511

57,453 15,183

$

7,796 $ 10,677 $ 36,673 $ 42,270

$

1.43 $

1.86 $

6.66 $

7.30

$

1.42 $

1.85 $

6.62 $

7.25

5,443,058 5,472,781

5,729,886 5,773,099

5,505,456 5,535,931

5,788,922 5,829,920

$

0.57 $

0.52 $

1.61 $

1.46

$

188 $

148 $

583 $

430

$

479 $

388 $

1,413 $

1,146

$

387 $

320 $

1,184 $

1,095

Apple Inc. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value)

ASSETS: Current assets:

Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowances of $55 and $63, respectively Inventories Vendor non-trade receivables Other current assets

Total current assets

June 25, 2016

September 26, 2015

$

18,237 $

21,120

43,519

20,481

11,714

16,849

1,831

2,349

7,328

13,494

11,132

15,085

93,761

89,378

Long-term marketable securities Property, plant and equipment, net Goodwill Acquired intangible assets, net Other non-current assets

Total assets

169,764 25,448 5,261

164,065 22,471 5,116

3,506 7,862

3,893 5,556

$

305,602 $

290,479

Current liabilities: Accounts payable Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities

LIABILITIES AND SHAREHOLDERS' EQUITY: $

Deferred revenue, non-current Long-term debt Other non-current liabilities

Total liabilities

26,318 $ 20,820

8,352 12,496

3,500 71,486

3,064 68,939 35,572 179,061

35,490 25,181

8,940 8,499 2,500 80,610

3,624 53,463 33,427 171,124

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 5,393,165 and 5,578,753 shares issued and outstanding, respectively

Retained earnings

Accumulated other comprehensive income/(loss)

Total shareholders' equity

Total liabilities and shareholders' equity

$

30,106 96,542

(107) 126,541 305,602 $

27,416 92,284

(345 ) 119,355 290,479

Apple Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

Cash and cash equivalents, beginning of the period

Operating activities: Net income Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables Other current and non-current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities

Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payments for acquisition of property, plant and equipment Payments for acquisition of intangible assets Payments for strategic investments Other Cash used in investing activities

Financing activities: Proceeds from issuance of common stock Excess tax benefits from equity awards Payments for taxes related to net share settlement of equity awards Payments for dividends and dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, net Cash used in financing activities

Increase/(decrease) in cash and cash equivalents Cash and cash equivalents, end of the period

Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest

Nine Months Ended

June 25, 2016

June 27, 2015

$

21,120 $

13,844

36,673

7,957 3,180 5,191

5,135 518

6,166 1,143 (9,622 ) (1,148 ) (5,495 ) 49,698

42,270

8,138 2,671 2,820

7,090 69

222 2,286 (3,263 ) 1,040 4,448 67,791

(112,068 ) 14,915 69,926 (146 ) (8,757 ) (753 ) (1,376 ) (321 ) (38,580 )

(137,524 ) 9,916

80,635 (230 )

(7,629 ) (201 ) -- 134

(54,899 )

247 391 (1,361 ) (9,058 ) (23,696 ) 17,984 (2,500 ) 3,992

324 684 (1,332 ) (8,597 ) (22,000 ) 21,312

-- (1,808 )

(14,001 )

(11,417 )

(2,883 )

1,475

$

18,237 $

15,319

$

8,990 $

10,604

$

892 $

427

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