The usefulness of budgets, variances, and related analyses often depends on the accuracy of managements estimates of future sales activity.
September 24, 2016 Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except tumber of shares which are reflected in thousands and par value) September 30, 2017 ASSETS Current assets Cash and cash equivalente 20.289 Short-term marketable securities 53.892 Accounts receivable, less allowances of $38 and 55, respectively 17.874 Invenios Vendor non-trade receivables 17.799 Other curreales 13.936 Total current assets 128.045 Lagerm marketable securities 194714 Property.plant and equipment, et 33,763 Goodwill 5.219 Acquired intangible ases, et 2.29 Other non-current assets 10.162 Total assets 375319 4XS 46,071 15,754 2.132 13.545 R283 106.869 170,400 27.010 8.757 321,656 49.049 25,744 7.518 11.977 37,24 22.027 KOSO 8.105 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable Accrued expenses Deferred revenue Commercial paper Current portion of long-term die Total consent liabilities Deemed revenue, cum Long-term dele Other non-curren abilities Total tilities Continand contingencia Shareholders' equity Common stock and additional paid-in capital, 90.00001 par value: 12,600,000 shares authorised: 5.126,301 and 5.176.166 shares issued and outstanding, respectively Retained sumings Accumulated other comprehensive income foss) Total shareholders' equity Total thatilities and auritan' cauty See accompanying Notes Cited Financial Statements 100814 2836 97.207 40.415 241.272 79,006 2930 75.427 36.074 193,407 31.251 96,364 35.867 98.330 (150 134047 375 319 128.249 321.686 September 24, 2015 201.715 140,089 Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, exceptumber of shares which are reflected in thousand per share amanta) Years ended September 30, 2017 September 24, 2016 Net soles 229,234 215.639 Coal of sales 141,048 131,376 Gross margin 88.156 Operating en Research and development 11.581 10.45 Selling, men de ministrative 15.261 14,194 Total operating expenses 26.842 24.230 Operating income 61,344 00024 Other comme lespense), el 2.745 1,348 Income before provision for income 64.099 61,372 Provision for income 15.738 15.685 Net income 4151 45 ST R067 14,320 22.396 21.210 1,285 72.515 19.121 53,194 5 8.35 8.31 9.28 9.22 Earnings per she Baie 9.27 Diluted 9.21 $ Shume se in computing carnings per shume: Basic 5.217.242 Diluted 5,251,692 Cash dividends declared person 2.40 5 See accompanying Notes to Consolidated Financial Statements 5,470.630 5,500,261 2.18 3,753.421 5,793,060 198 Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions Years ended September 30, 2017 September 24, 2016 September 26, 2015 Net income 48,331 53.394 Oller couchemive income (os) Change in foreign currency translation, net of tax effects 5177). 58 and 5201, espectively 75 (411) Change in realized gains fosses on derivative Instruments: Change in fair value of derivatives, of benefit (expense) of $(978). $(7) and $(441), respectively 1.315 7 2.905 Adjustment Penel (gaima) les sealized and included in tat income net of tax expense emetof SITS.5151 and 5630, respectively
