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Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) September 24, 2022 September

Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
September 24, 2022 September 25, 2021 September 26, 2020
Net sales: $ 316 199 $ 297 392 $ 220 747
Products $ 78 129 $ 68 425 $ 53 768
Services $ 394 328 $ 365 817 $ 274 515
Total net sales $ 788 656 $ 731 634 $ 549 030
Cost of sales:
Products $ 201 471 $ 192 266 $ 151 286
Services $ 22 075 $ 20 715 $ 18 273
Total cost of sales $ 223 546 $ 212 981 $ 169 559
Gross margin $ 170 782 $ 152 836 $ 104 956
Operating expenses:
Research and development $ 26 251 $ 21 914 $ 18 752
Selling, general and administrative $ 25 094 $ 21 973 $ 19 916
Total operating expenses $ 51 345 $ 43 887 $ 38 668
Operating income $ 119 437 $ 108 949 $ 66 288
Other income/(expense), net $ (334) $ 258 $ 803
Income before provision for income taxes $ 119 103 $ 109 207 $ 67 091
Provision for income taxes $ 19 300 $ 14 527 $ 9 680
Net income $ 99 803 $ 94 680 $ 57 411

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