9. Why should cash receipts be deposited on the day of receipt? 10. APPLE Apple's statement of cash flows in Appendix A describes changes in cash and cash equivalents for the year ended September 30, 2017. What total amount is provided (used) by investing activities? What amount is provided (used) by financing activities? September 30, 2017 September 24, 2016 20,484 46,671 15.754 2,132 ASSETS Current assets Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowances of $58 and $53, respectively Inventories Vendor non-trade receivables Other current assets Total current assets Long-term marketable securities Property, plant and equipment, net Goodwill Acquired intangible assets, net Other non-current assets Total assets 20,289 53,892 17,874 4,855 17.799 13.936 128,645 194,714 33,783 5.717 2,298 10,162 375,319 13,545 8,283 106,869 170,430 27,010 5,414 3,206 8,757 321.686 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities Deferred revenue, non-current Long-term debt Other non-current liabilities Total liabilities Commitments and contingencies 49,049 25.744 7.548 11,977 6,496 100,814 2,836 97,207 40,415 241,272 37.294 22,027 8,080 8,105 3,500 79,006 2.930 75,427 36,074 193.437 Shareholders' equity Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized: 5,126,201 and 5.336,166 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity See accompanying Notes to Consolidated Financial Statements. 35,867 98,330 (150) 134,047 375,319 31.251 96,364 634 128,249 321,686 September 26, 2015 233,715 140,089 93,626 Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 30, 2017 September 24, 2016 Net sales 229.234 215,639 Cost of sales 141,048 131,376 Gross margin 88,186 84,263 Operating expenses Research and development 11.581 10.045 Selling, general and administrative 15.261 14,194 Total operating expenses 26,842 24.239 Operating income 61,344 60,024 Other income (expense), net 2,745 1,348 Income before provision for income taxes 64,089 61,372 Provision for income taxes 15.738 15,685 Net income 45,687 8,067 14,329 22,396 71.230 1,285 72,515 19,121 53,394 9.28 9.22 Earnings per share: Basic 9.27 8.35 Diluted 9.21 Shares used in computing earnings per share: Basic 5.217.242 5,470,820 Diluted 5,251,692 5.500.281 Cash dividends declared per share 2.40 2.18 See accompanying Notes to Consolidated Financial Statements. 5.753,421 5.793,069 1.98 $ September 26, 2015 $ 53,394 224 (411) 2,905 (3,497) Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Years ended September 30, 2017 September 24, 2016 Net income 48,351 S 45,687 Other comprehensive income (loss): Change in foreign currency translation, net of tax effects of S(77), S8 and 5201, respectively Change in unrealized gainslosses on derivative instruments: Change in fair value of derivatives, net of tax benefit (expense) of S(478), 5(7) and S(441), respectively 1,315 Adjustment for net (gains) losses realized and included in net income net of tax expense (benefit of $475, $131 and 5630, respectively (1,477) (741) Total change in unrealized gains/losses on derivative instruments, net of tax (162) (734) Change in unrealized gainslosses on marketable securities Change in fair value of marketable securities, net of tax benefit (expense) of $425, 5(863) and $264, respectively (782) 1,582 Adjustment for net (gains) losses realized and included in net income, net of tax expense (benefit) of $35. $(31), and S(32), respectively (64) 56 Total change in unrealized gains/losses on marketable securities, net of tax (846) 1.638 Total other comprehensive income (loss) (784) 979 Total comprehensive income 47,567 46.666 See accompanying Notes to Consolidated Financial Statements. (592) (483) 59 (424) (1.427) 51.967 (In millions, except number of shares which are reflected in thousands) Accumulated Other Comprehensive Income (Loss) $ 1,082 Total Shareholders Equity $ 111,547 53,394 (1.427) (1.427) (11.627) (36,026) 3,586 (840) 5 (345) $ 979 Common Stock and Additional Paid-In Capital Retained Shares Amount Earnings Balances as of September 27, 2014 5.866,161 23,313 S 87,152 Net income 53,394 Other comprehensive income (loss) Dividends and dividend equivalents declared (11.627) Repurchase of common stock (325,032) (36,026) Share-based compensation 3,586 Common stock issued, net of shares withheld for employee taxes 37,624 (231) (609) Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 26, 2015 3,578,753 27.416 S 92.284 Net income 45,687 Other comprehensive income (loss) Dividends and dividend equivalents declared (12,188) Repurchase of common stock (279,609) (29,000) Shure-based compensation 4,262 Common stock issued, net of shares withheld for employee taxes 37,022 (806) (419) Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 24, 2016 5,336,166 S 31,251 S 96,364 Net income 48,351 Other comprehensive income (loss) Dividends and dividend equivalents declared (12.803) Repurchase of common stock (246,496) (33,001) Share-based compensation 4,909 Common stock issued, net of shares withheld for employee taves 36,531 (913) (581) Tax benefit from equity awards, including transfer pricing adjustments 620 Balances as of September 30, 2017 5,126,201 $ SE35,867 $ 98 330 See accompanying Notes to Consolidated Financial Statements. 748 119,355 45,687 979 (12.188) espoo) 9262 (1,225) 634 $ (784) 379 128,249 48,351 (784 (12.803) (33,001) 4,909 (1,494) 620 $ (150) S 134,047 September 24, 2016 $ 21,120 September 26, 2015 $ 13.844 45,687 53,394 10,505 4.210 4,938 486 11.257 3.586 1,382 385 527 217 SI) 1,055 1.837 (1,554) (2,033) 65.824 417 (238) (3,735) (283) 5.001 1,042 9.058 81,266 (In millies) Years ended September 30, 2017 Cash and cash equivalents, beginning of the year 20.484 Opening activities Net income 48,351 Adjustments to reconcile net income to cash generated by operating activities Depreciation and amortization 10.157 Share-based compensation expense 4,840 Deferred income tax expense 5,966 Other (166) Changes in operating assets and liabilities: Accounts receivable, nel (2,093) Inventorics (2.723) Vendor non-trade receivables (4.254) Other current and non-current ses (5,318) Accounts payable 9,618 Deferred revenue (626) Other current and non-current liabilities (154) Cash generated by operating activities 63,598 Investing activities: Purchases of marketable securities (159,486) Proceeds from maturities of marketable securities 31.775 Proceeds from sales of marketable securities 94,564 Payments made in connection with business acquisitions, net (329) Payments for acquisition of property, plant and equipment (12.451) Payments for acquisition of intangible assets Payments for strategic investments, nel (395) Other 220 Cash used in investing activities (46,446) Tinancing activities: Proceeds from issuance of common stock 555 Excess tax benefits from equity awards 627 Payments for ex related to nel share element of uity and (1,874) Payments for dividends and dividend equivalents (12.769) Repurchases of common stock (32,900) Prixceeds from issuance of term dehi, nel 28.162 Repayments of term dcbt (3,500) Change in commercial paper, net 3852 Cash used in financing activities (17,347) Incrcase (dccrcase) in cash and cash equivalents (195) Cash and cash equivalents, end of the year 20.289 (142,428) 21.258 90,536 (297) (12.734) (166,402) 14,538 107.447 (343) (11.247) (241) (1,388) (110) (26) (45,977) (56.274) 495 407 (1,570) 513 749 (1,499) (11.561) (35,253) 27,114 (12.150) (29.722) 24,954 (2,500) (397) (20,483) (636) 20.484 2.191 (17,716) 7,276 21.120 $ Supplemental cash flow disclosure: Cash paid for income taxes, net Cash puid for interest 11.591 2,092 5 $ 10,444 1,316 $ S 13.252 514 Sceascavine Sales Consolid asi Salements