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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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