ACC102 W80 - INTRO TO MANAGERIAL ACCOUNTING (Fall 2023 Credit Courses) Net sales: Products Services Total net sales Cost of sales: Products Services Total cost of sales Gross margin Years ended September 28, 2019 September 29, 2018 September 30, 2017 EA 213,883 $ 225,847 $ 196,534 46,291 39,748 32,700 260,174 265,595 229,234 144,996 148,164 126,337 16,786 15,592 14,711 161,782 163,756 141,048 98,392 101,839 88,186 Operating expenses: Research and development 16,217 14,236 11,581 Selling, general and administrative 18,245 16,705 15,261 Total operating expenses 34,462 30,941 26,842 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 63,930 70,898 61,344 1,807 2,005 2,745 65,737 72,903 64,089 10,481 13,372 15,738 $ 55,256 $ 59,531 $ 48,351 11.97 $ 12.01 $ 9.27 11.89 $ 11.91 $ 9.21 4,617,834 4,955,377 5,217,242 4,648,913 5,000,109 5,251,692 See accompanying Notes to Consolidated Financial Statements. Net income Other comprehensive income/(loss): Change in foreign currency translation, net of tax Change in unrealized gains/losses on derivative instruments, net of tax: Change in fair value of derivatives Adjustment for net (gains)/losses realized and included in net income Total change in unrealized gains/losses on derivative instruments Change in unrealized gains/losses on marketable securities, net of tax: Change in fair value of marketable securities Adjustment for net (gains)/losses realized and included in net income Total change in unrealized gains/losses on marketable securities Years ended September 28, 2019 September 29, 2018 September 30, 2017 $ 55,256 $ 59,531 $ 48,351 (408) (525) 224 (661) 523 1,315 23 382 (1,477) (638) 905 (162) 3,802 (3,407) (782) 25 1 (64) 3,827 (3,406) (846) ACC102 W80 - INTRO TO MANAGERIAL ACCOUNTING (Fall 2023 Credit Courses) Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets ASSETS: September 28, September 29, 2019 2018 SA 48,844 $ 25,913 51,713 40,388 22,926 23,186 4,106 3,956 22,878 25,809 12,352 12,087 162,819 131,339 105,341 170,799 37,378 41,304 32,978 22,283 175,697 234,386 $ 338,516 $ 365,725 Commitments and contingencies ACC102 W80 - INTRO TO MANAGERIAL ACCOUNTING (Fall 2023 Credit Courses) Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) 45,174 40,201 45,898 70,400 (584) (3,454) 90.488 107,147 $ 338,516 $ 365,725 See accompanying Notes to Consolidated Financial Statements. Total shareholders' equity Total liabilities and shareholders' equity ACC102 W80 - INTRO TO MANAGERIAL ACCOUNTING (Fall 2023 Credit Courses) Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except per share amounts) Total shareholders' equity, beginning balances Years ended September 28, 2019 September 29, 2018 September 30, 2017 $ 107,147 $ 134,047 $ 128,249 Common stock and additional paid-in capital: Beginning balances 40,201 35,867 31,251 Common stock issued 781 669 555 Common stock withheld related to net share settlement of equity awards (2,002) (1,778) (1,468) Share-based compensation 6,194 5,443 4,909 Tax benefit from equity awards, including transfer pricing adjustments 620 Ending balances 45,174 40,201 35,867 Years ended September 28, 2019 September 29, 2018 September 30, 2017 Cash, cash equivalents and restricted cash, beginning balances $ 25,913 $ 20,289 $ 20,484 Operating activities: ACC102 W80 - INTRO TO MANAGERIAL Net inco ACCOUNTING (Fall 2023 Credit Courses) 55,256 59,531 48,351 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 12,547 10,903 10,157 Share-based compensation expense 6,068 5,340 4,840 Deferred income tax expense/(benefit) (340) (32,590) 5,966 Other Changes in operating assets and liabilities: Accounts receivable, net Inventories (652) (444) (166) 245 (5,322) (2,093) (289) 828 (2,723) Vendor non-trade receivables 2,931 (8,010) (4,254) Other current and non-current assets 873 (423) (5,318) Accounts payable (1,923) 9,175 8,966 Deferred revenue Other current and non-current liabilities Cash generated by operating activities (625) (3) (593) (4,700) 38,449 1,092 69,391 77,434 64,225 Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities (39,630) (71,356) (159,486) 40,102 55,881 31,775 Proceeds f ACC102 W80 - INTRO TO MANAGERIAL ACCOUNTING (Fall 2023 Credit Courses) urities 56,988 47,838 94,564 Payments for acquisition of property, plant and equipment (10,495) (13,313) (12,451) Payments made in connection with business acquisitions, net (624) (721) (329) Purchases of non-marketable securities (1,001) (1,871) (521) Proceeds from non-marketable securities 1,634 353 126 Other (1,078) (745) (124) Cash generated by/(used in) investing activities 45,896 16,066 (46,446) Financing activities: Proceeds from issuance of common stock 781 669 555 Payments for taxes related to net share settlement of equity awards (2,817) (2,527) (1,874) Payments for dividends and dividend equivalents (14,119) (13,712) (12,769) Repurchases of common stock (66,897) (72,738) (32,900) Proceeds from issuance of term debt, net 6,963 6,969 28,662 Repayments of term debt (8,805) (6,500) (3,500) Proceeds from/(Repayments of) commercial paper, net (5,977) (37) 3,852 Other (105) Cash used in financing activities (90,976) (87,876) (17,974) Total other comprehensive income/(loss) Total comprehensive income 2,781 (3,026) (784) $ 58,037 $ 56,505 $ 47,567