The financial statements of Apple, Inc. for 2015 are presented in Appendix A. Click here to view Appendix A. Instructions for accessing and using the companys complete annual report, including the notes to the financial statements, are also provided in Appendix A. Refer to Apples financial statements and answer the following questions.
What was the total cost and book value of property, plant, and equipment at September 26, 2015?
| Total Cost | | $ | |
| Book Value | | $ |
What was the amount of depreciation and amortization expense for each of the three years 20132015?
| | | Depreciation and amortization expense | |
| 2015 | | $ | |
| 2014 | | $ | |
| 2013 | | $ |
Using the statement of cash flows, what is the amount of capital spending in 2015 and 2016?
September 28, 2013 170,910 106,606 64,304 CONSOLIDATED STATEMENTS OF OPERATIONS (In milions, except number of shares which are reflected in thousands and per share amounts) Years onded Soptomber 26, Soptomber 27, 2015 2014 Net sales $ 233,715 182.795 Cost of sales 140,089 112,258 Gross margin 93,626 70,537 Operating expenses: Research and development 8,067 6,041 Selling general and administrative 14,329 11.993 Total operating expenses 22,396 18,034 Operating income 71.230 52,503 Other income/(expense), net 1.285 980 Income before provision for income taxes 72,515 53,483 Provision for income taxes 19.121 13,973 Net income 53,394 39,510 4.475 10,830 15,305 48,999 1.156 50,155 13.118 37,037 S GA $ Earnings per share: Basic Diluted CA 9.28 $ 9.22 $ 6.49 6.45 5.72 5.68 S A VOIVULILATEU STATEMENT Ur LuvPRENESIVE HUIC (in milions) Yoars ondod Soptombor 26, September 27. September 28, 2015 2014 2013 53,394 $ 39,510 $ 37.037 (411) (137) (112) 2.905 1,390 522 (3.497) 149 (458) Net Income Other comprehensive income/loss) Change in foreign currency translation, net of tax effects of $201.$50 and $35, respectively Change in unrealized gains/losses on derivative Instruments: Change in fair value of derivatives, net of tax benefit/(expense) of S(441), S(297) and $(351), respectively Adjustment for net (gains) losses realized and included in net income, net of tax expense/benefit) of $630, S/36) and $255, respectively Total change in unrealized gains/losses on derivative Instruments, net of tax Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit (expense) of $264, $(153) and $458, respectively Adjustment for net (gains) losses realized and included in net income, net of tax expense/benefit) of $(32). $71 and $82, respectively Total change in unrealized gains/osses on marketable securities, net of tax Total other comprehensive income/(loss) Total comprehensive income (592) 1,539 64 (483) 285 (791) (134) 151 59 (424) (1.427) 51.967 $ (131) (922) (970) 36,067 1,553 41,063 $ CONSOLIDATED BALANCE SHEETS in millions, except number of shares which are reflected in thousands and par value) September 26, 2015 September 27 2014 ASSETS: Current assets. Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowances of $82 and $86, respectively Inventories Deferred tax assets 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 assets Total assets $ 21.120 $ 13,844 20,481 11,233 16,849 17.460 2,349 2.111 5,546 4,318 13,494 9,759 9,539 9,806 89,378 68.531 164,065 130,162 22,471 20.624 5,116 4,616 3,893 4,142 5,556 3,764 $ 290,479 $ 231,839 $ $ 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 Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized: 5,578,753 and 5,866,161 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income Total shareholders' equity Total liabilities and shareholders' equity 35,490 25,181 8,940 8,499 2,500 80,610 3,624 53,463 33,427 171.124 30, 196 18,453 8.491 6,308 0 63,448 3,031 28,987 24,826 120,292 27.416 92.284 (345) 119,355 290,479 23,313 87.152 1,082 111,547 231.839 $ S LUNSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY (in milions, except number of shares which are reflected in thousands) Common Stock and Accumulated Additional Paid-In Capital Other Total Retained Comprehensive Shareholders' Shares Amount Earnings Income/(Loss) Equity 6,574,458 $ 16,422 $ 101,289 $ 499 $ 118,210 0 37,037 37,037 0 0 1970) 1970) 0 0 (10,676) (10,676) (328,837) 0 (22,950) 122.960) 0 2.253 0 0 2.253 OD 0 0 48,873 (143) (444) 0 587) Balances as of September 29, 2012 Net income Other comprehensive income/loss) Dividends and dividend equivalents declared Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for employee taxes Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 28, 2013 Net income Other comprehensive income/loss) Dividends and dividend equivalents declared Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for employee taxes 0 0 1,232 19.764 6,294.494 0 0 0 104,256 39,510 0 (11.215) (45,000) (471) 0 1,553 0 0 0 1.232 123,549 39,510 1,553 (11,215) (45,000) 2863 0 0 (488,677) 0 0 0 2,863 0 0 60.344 149 (399) (448) 0 735 0 0 735 5,866,161 0 0 23,313 0 1,082 0 (1.427) 0 0 87,152 53,394 0 (11,627) (36,026) 0 Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 27, 2014 Net income Other comprehensive income/loss) Dividends and dividend equivalents declared Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for employee taxes Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 26, 2015 111,547 53,394 (1,427) (11,627) (36,026) 3,586 0 0 0 0 (325,032) 0 3,586 0 37.624 (231) (609) 0 (840) 0 0 0 748 27,416 $ 5,578,753 $ 748 119,355 92,284 $ (345) $ See accompanying Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years onded September 26, September 27, September 28, 2015 2014 2013 $ 13,844 $ 14.259 $ 10,746 Cash and cash equivalents, beginning of the year Operating activities: - Wie.com content2FWeygande Financial 10e%2Febook%2Fepub%2F9 Net income 53,394 39,510 37.037 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 11.257 7.946 6,757 Share-based compensation expense 3,586 2,863 2,253 Deferred income tax expense 1,382 2.347 1.141 Changes in operating assets and liabilities: Accounts receivable, net 611 (4.232) (2,172) Inventories (238) (76) (973) Vendor non-trade receivables (3.735) (2.220) 223 Other current and non-current assets (179) 167 1,080 Accounts payable 5,400 5,938 2,340 Deferred revenue 1.042 1.460 1,459 Other current and non-current liabilities 8,746 6,010 4,521 Cash generated by operating activities 81.266 59,713 53,666 Investing activities: Purchases of marketable securities (166,402) (217,128) (148,489) Proceeds from maturities of marketable securities 14,538 18,810 20,317 Proceeds from sales of marketable securities 107,447 189,301 104,130 Payments made in connection with business acquisitions, net (343) (3.765) (496) Payments for acquisition of property, plant and equipment (11,247) (9,571) (8,165) Payments for acquisition of intangible assets (241) (242) (911) Other 16 (160) Cash used in investing activities (56,274) (22,579) (33,774) (26) Financing activities: Proceeds from issuance of common stock Excess tax benefits from equity awards Taxes paid related to net share settlement of equity awards Dividends and dividend equivalents paid Repurchase of common stock Proceeds from issuance of term debt, net Change in commercial paper, net Cash used in financing activities Increase/(decrease) in cash and cash equivalents Cash and cash equivalents, end of the year Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest 543 749 (1.499) (11,561) (35,253) 27.114 2.191 (17.716) 7.276 21,120 $ 730 739 (1.158) (11,126) (45,000) 11,960 6,306 (37,549 (415) 13,844 $ 530 701 (1,082) (10,564) (22,880) 16.896 0 (16,379) 3,513 14.259 $ 9,128 13,252 $ 514 $ 10,026 $ 339 $
