Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Cash, cash equivalents and restricted cash, beginning balances Operating activities: Net income Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense/(benefit) Other Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables Other current and non-current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments for acquisition of property, plant and equipment Payments made in connection with business acquisitions, net Other Cash used in investing activities Financing activities: Payments for taxes related to net share settlement of equity awards Payments for dividends and dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Proceeds from/(Repayments of) commercial paper, net Other Cash used in financing activities Decrease in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, ending balances Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest September 24, 2022 $ $ $ $ 35,929 99,803 11,104 9,038 895 111 (1,823) 1,484 (7,520) (6,499) 9,448 478 5,632 122,151 (76,923) 29,917 37,446 (10,708) (306) (1,780) (22,354) (6,223) (14,841) (89,402) 5,465 (9,543) 3,955 (160) (110,749) Years ended September 25, 2021 $ (10,952) 24,977 $ See accompanying Notes to Consolidated Financial Statements. 19,573 $ 2,865 $ 39,789 $ 94,680 11,284 7,906 (4,774) (147) (10,125) (2,642) (3,903) (8,042) 12,326 1,676 5,799 104,038 (109,558) 59,023 47,460 (11,085) (33) (352) (14,545) (6,556) (14,467) (85,971) 20,393 (8,750) 1,022 976 (93,353) September 26, 2020 (3,860) 35,929 $ 25,385 $ 2,687 $ 50,224 57,411 11,056 6,829 (215) (97) 6,917 (127) 1,553 (9,588) (4,062) 2,081 8,916 80,674 (114,938) 69,918 50,473 (7,309) (1,524) (909) (4,289) (3,634) (14,081) (72,358) 16,091 (12,629) (963) 754 (86,820) (10,435) 39,789 9,501 3,002
Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Cash, cash equivalents and restricted cash, beginning balances Operating activities: Net income Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense/(benefit) Other Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables Other current and non-current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments for acquisition of property, plant and equipment Payments made in connection with business acquisitions, net Other Cash used in investing activities Financing activities: Payments for taxes related to net share settlement of equity awards Payments for dividends and dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Proceeds from/(Repayments of) commercial paper, net Other Cash used in financing activities Decrease in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, ending balances Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest September 24, 2022 $ $ $ $ 35,929 99,803 11,104 9,038 895 111 (1,823) 1,484 (7,520) (6,499) 9,448 478 5,632 122,151 (76,923) 29,917 37,446 (10,708) (306) (1,780) (22,354) (6,223) (14,841) (89,402) 5,465 (9,543) 3,955 (160) (110,749) Years ended September 25, 2021 $ (10,952) 24,977 $ See accompanying Notes to Consolidated Financial Statements. 19,573 $ 2,865 $ 39,789 $ 94,680 11,284 7,906 (4,774) (147) (10,125) (2,642) (3,903) (8,042) 12,326 1,676 5,799 104,038 (109,558) 59,023 47,460 (11,085) (33) (352) (14,545) (6,556) (14,467) (85,971) 20,393 (8,750) 1,022 976 (93,353) September 26, 2020 (3,860) 35,929 $ 25,385 $ 2,687 $ 50,224 57,411 11,056 6,829 (215) (97) 6,917 (127) 1,553 (9,588) (4,062) 2,081 8,916 80,674 (114,938) 69,918 50,473 (7,309) (1,524) (909) (4,289) (3,634) (14,081) (72,358) 16,091 (12,629) (963) 754 (86,820) (10,435) 39,789 9,501 3,002
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
According to this 2 documents critically assess Apple financial performance of 2021 and 2022 analysing effect of major global events in the business performance using the cash management policies (working capital).
Transcribed Image Text:Apple Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Cash, cash equivalents and restricted cash, beginning balances
Operating activities:
Net income
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization
Share-based compensation expense
Deferred income tax expense/(benefit)
Other
Changes in operating assets and liabilities:
Accounts receivable, net
Inventories
Vendor non-trade receivables
Other current and non-current assets
Accounts payable
Deferred revenue
Other current and non-current liabilities
Cash generated by operating activities
Investing activities:
Purchases of marketable securities
Proceeds from maturities of marketable securities
Proceeds from sales of marketable securities
Payments for acquisition of property, plant and equipment
Payments made in connection with business acquisitions, net
Other
Cash used in investing activities
Financing activities:
Payments for taxes related to net share settlement of equity awards
Payments for dividends and dividend equivalents
Repurchases of common stock
Proceeds from issuance of term debt, net
Repayments of term debt
Proceeds from/(Repayments of) commercial paper, net
Other
Cash used in financing activities
Decrease in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash, ending balances
Supplemental cash flow disclosure:
Cash paid for income taxes, net
Cash paid for interest
September 24,
2022
$
$
$
$
35,929 $
99,803
11,104
9,038
895
111
(1,823)
1,484
(7,520)
(6,499)
9,448
478
5,632
122,151
(76,923)
29,917
37,446
(10,708)
(306)
(1,780)
(22,354)
(6,223)
(14,841)
(89,402)
5,465
(9,543)
3,955
(160)
(110,749)
Years ended
September 25,
2021
(10,952)
24,977 $
19,573 $
2,865 $
See accompanying Notes to Consolidated Financial Statements.
39,789
94,680
11,284
7,906
(4,774)
(147)
(10,125)
(2,642)
(3,903)
(8,042)
12,326
1,676
5,799
104,038
(109,558)
59,023
47,460
(11,085)
(33)
(352)
(14,545)
(6,556)
(14,467)
(85,971)
20,393
(8,750)
1,022
976
(93,353)
(3,860)
35,929
September 26,
2020
$
$
$
25,385
2,687 $
50,224
57,411
11,056
6,829
(215)
(97)
6,917
(127)
1,553
(9,588)
(4,062)
2,081
8,916
80,674
(114,938)
69,918
50,473
(7,309)
(1,524)
(909)
(4,289)
(3,634)
(14,081)
(72,358)
16,091
(12,629)
(963)
754
(86,820)
(10,435)
39,789
9,501
3,002
Transcribed Image Text:Net sales:
Products
Services
Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
Total net sales
Cost of sales:
Products
Services
Total cost of sales
Gross margin
Operating expenses:
Research and development
Selling, general and administrative
Total operating expenses
Operating income
Other income/(expense), net
Income before provision for income taxes
Provision for income taxes
Net income
Earnings per share:
Basic
Diluted
Shares used in computing earnings per share:
Basic
Diluted
September 24,
2022
$
$
LA GA
$
$
316,199 $
78,129
394,328
201,471
22,075
223,546
170,782
26,251
25,094
51,345
119,437
Years ended
September 25,
2021
(334)
119,103
19,300
99,803 $
6.15 $
6.11 $
16,215,963
16,325,819
EA CA
297,392 $ 220,747
68,425
53,768
365,817
274,515
192,266
20,715
212,981
152,836
21,914
21,973
43,887
September 26,
2020
108,949
258
109,207
14,527
94,680 $
5.67 $
5.61
16,701,272
16,864,919
LA LA
$
151,286
18,273
169,559
104,956
18,752
19,916
38,668
66,288
803
67,091
9,680
57,411
3.31
3.28
17,352,119
17,528,214
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