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Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY ( In millions, except per share amounts ) Years ended September 2 4 , 2 0 2 2

Apple Inc.CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY
(In millions, except per share amounts)
Years ended
September 24,202220212020
Total shareholders equity, beginning balances $ 63,090 $ 65,339 $ 90,488
September 25,
September 26,
Common stock and additional paid-in capital:
Beginning balances 57,36550,77945,174
Common stock issued 1,1751,105880
Common stock withheld related to net share settlement of equityawards (2,971)(2,627)(2,250)
Share-based compensation 9,2808,1086,975
Ending balances 64,84957,36550,779
Retained earnings/(Accumulated deficit):
Beginning balances 5,56214,96645,898
Net income 99,80394,68057,411
Dividends and dividend equivalents declared (14,793)(14,431)(14,087)
Common stock withheld related to net share settlement of equityawards (3,454)(4,151)(1,604)
Common stock repurchased (90,186)(85,502)(72,516)
Cumulative effect of change in accounting principle (136)
Ending balances (3,068)5,56214,966
Accumulated other comprehensive income/(loss):
Beginning balances 163(406)(584)
Other comprehensive income/(loss)(11,272)56942
Cumulative effect of change in accounting principle 136
Ending balances (11,109)163(406)
Total shareholders equity, ending balances $ 50,672 $ 63,090 $ 65,339
Dividends and dividend equivalents declared per share or RSU $ 0.90 $ 0.85 $ 0.795
See accompanying Notes to Consolidated Financial Statements.
Apple Inc. |2022 Form 10-K |32
Apple Inc.CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Years ended
September 24,202220212020
September 25,
September 26,
Cash, cash equivalents and restricted cash, beginning balances $ 35,929 $ 39,789 $ 50,224
Operating activities:
Net income 99,80394,68057,411
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization 11,10411,28411,056
Share-based compensation expense 9,0387,9066,829
Deferred income tax expense/(benefit)895(4,774)(215)
Other 111(147)(97)
Changes in operating assets and liabilities:
Accounts receivable, net (1,823)(10,125)6,917
Inventories 1,484(2,642)(127)
Vendor non-trade receivables (7,520)(3,903)1,553
Other current and non-current assets (6,499)(8,042)(9,588)
Accounts payable 9,44812,326(4,062)
Deferred revenue 4781,6762,081
Other current and non-current liabilities 5,6325,7998,916
Cash generated by operating activities 122,151104,03880,674
Investing activities:
Purchases of marketable securities (76,923)(109,558)(114,938)
Proceeds from maturities of marketable securities 29,91759,02369,918
Proceeds from sales of marketable securities 37,44647,46050,473
Payments for acquisition of property, plant and equipment (10,708)(11,085)(7,309)
Payments made in connection with business acquisitions, net (306)(33)(1,524)
Other (1,780)(352)(909)
Cash used in investing activities (22,354)(14,545)(4,289)
Financing activities:
Payments for taxes related to net share settlement of equity awards (6,223)(6,556)(3,634)
Payments for dividends and dividend equivalents (14,841)(14,467)(14,081)
Repurchases of common stock (89,402)(85,971)(72,358)
Proceeds from issuance of term debt, net 5,46520,39316,091
Repayments of term debt (9,543)(8,750)(12,629)
Proceeds from/(Repayments of) commercial paper, net 3,9551,022(963)
Other (160)976754
Cash used in financing activities (110,749)(93,353)(86,820)
Decrease in cash, cash equivalents and restricted cash (10,952)(3,860)(10,435)
Cash, cash equivalents and restricted cash, ending balances $ 24,977 $ 35,929 $ 39,789
Supplemental cash flow disclosure:
Cash paid for income taxes, net $ 19,573 $ 25,385 $ 9,501
Cash paid for interest $ 2,865 $ 2,687 $ 3,002
See accompanying Notes to Consolidated Financial Statements.
Apple Inc. |2022 Form 10-K |33
Apple Inc.Notes to Consolidated Financial Statements
Note 1 Summary of Significant Accounting Policies Basis of Presentation and Preparation
The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively Apple or the Company). Intercompany accounts and transactions have been eliminated. The preparation of these consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior period amounts in the consolidated financial statements and accompanying notes have been reclassified to conform to the current periods presentation.
The Companys fiscal year is the 52- or 53-week period that ends on the last Saturday of September. An additional week is included in the first fiscal quarter every five or six years to realign the Companys fiscal quarters with calendar quarters, which will occur in the first quarter of the Companys fiscal year ending September 30,2023. The Companys fiscal years

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