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
December 30, December 31,
2023 2022
Net sales:
Products ! 96,458 ! 96,388
Services 23,117 20,766
Total net sales (1)
119,575 117,154
Cost of sales:
Products 58,440 60,765
Services 6,280 6,057
Total cost of sales 64,720 66,822
Gross margin 54,855 50,332
Operating expenses:
Research and development 7,696 7,709
Selling, general and administrative 6,786 6,607
Total operating expenses 14,482 14,316
Operating income 40,373 36,016
Other income/(expense), net (50) (393)
Income before provision for income taxes 40,323 35,623
Provision for income taxes 6,407 5,625
Net income ! 33,916 ! 29,998
Earnings per share:
Basic ! 2.19 ! 1.89
Diluted ! 2.18 ! 1.88
Shares used in computing earnings per share:
Basic 15,509,763 15,892,723
Diluted 15,576,641 15,955,718
(1)
Net sales by reportable segment:
Americas ! 50,430 ! 49,278
Europe 30,397 27,681
Greater China 20,819 23,905
Japan 7,767 6,755
Rest of Asia Pacific 10,162 9,535
Total net sales ! 119,575 ! 117,154
(1)
Net sales by category:
iPhone ! 69,702 ! 65,775
Mac 7,780 7,735
iPad 7,023 9,396
Wearables, Home and Accessories 11,953 13,482
Services 23,117 20,766
Total net sales ! 119,575 ! 117,154
Apple Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and par value)
December 30, September 30,
2023 2023
ASSETS:
Current assets:
Cash and cash equivalents ! 40,760 ! 29,965
Marketable securities 32,340 31,590
Accounts receivable, net 23,194 29,508
Vendor non-trade receivables 26,908 31,477
Inventories 6,511 6,331
Other current assets 13,979 14,695
Total current assets 143,692 143,566
Non-current assets:
Marketable securities 99,475 100,544
Property, plant and equipment, net 43,666 43,715
Other non-current assets 66,681 64,758
Total non-current assets 209,822 209,017
Total assets ! 353,514 ! 352,583
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable ! 58,146 ! 62,611
Other current liabilities 54,611 58,829
Deferred revenue 8,264 8,061
Commercial paper 1,998 5,985
Term debt 10,954 9,822
Total current liabilities 133,973 145,308
Non-current liabilities:
Term debt 95,088 95,281
Other non-current liabilities 50,353 49,848
Total non-current liabilities 145,441 145,129
Total liabilities 279,414 290,437
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, !0.00001 par value: 50,400,000 shares
authorized; 15,460,223 and 15,550,061 shares issued and outstanding, respectively 75,236 73,812
Retained earnings/(Accumulated deficit) 8,242 (214)
Accumulated other comprehensive loss (9,378) (11,452)
Total shareholders’ equity 74,100 62,146
Total liabilities and shareholders’ equity ! 353,514 ! 352,583