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    Apple Financial

    Uploaded by

    Hina Imran Thawar
    This document contains consolidated balance sheets and statements of operations for two periods. The balance sheets show the company's total assets increased slightly from the previous year, with cash and short-term investments decreasing but accounts receivable and inventory increasing. Total liabilities also increased slightly. The statements of operations show that net sales and gross margin increased for the periods reported, while operating expenses decreased, leading to an operating income compared to a loss in the previous period. Net income increased compared to the previous period.

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    Apple Financial

    Uploaded by

    Hina Imran Thawar
    53 views2 pages
    This document contains consolidated balance sheets and statements of operations for two periods. The balance sheets show the company's total assets increased slightly from the previous year, with cash and short-term investments decreasing but accounts receivable and inventory increasing. Total liabilities also increased slightly. The statements of operations show that net sales and gross margin increased for the periods reported, while operating expenses decreased, leading to an operating income compared to a loss in the previous period. Net income increased compared to the previous period.

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    apple financial

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    This document contains consolidated balance sheets and statements of operations for two periods. The balance sheets show the company's total assets increased slightly from the previous year, with cash and short-term investments decreasing but accounts receivable and inventory increasing. Total liabilities also increased slightly. The statements of operations show that net sales and gross margin increased for the periods reported, while operating expenses decreased, leading to an operating income compared to a loss in the previous period. Net income increased compared to the previous period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    53 views2 pages

    Apple Financial

    Uploaded by

    Hina Imran Thawar
    This document contains consolidated balance sheets and statements of operations for two periods. The balance sheets show the company's total assets increased slightly from the previous year, with cash and short-term investments decreasing but accounts receivable and inventory increasing. Total liabilities also increased slightly. The statements of operations show that net sales and gross margin increased for the periods reported, while operating expenses decreased, leading to an operating income compared to a loss in the previous period. Net income increased compared to the previous period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    CONSOLIDATED BALANCE SHEETS

    (In millions, except share amounts)

    ASSETS:

    March 30, September 29,


    2002 2001
    Current assets:
    Cash and cash equivalents......................................................... $1,159 $2,310
    Short-term investments............................................................. 3,150 2,026
    Accounts receivable, less allowances of $52 and $51, respectively..... 644 466
    Inventories.............................................................................. 26 11
    Deferred tax assets.................................................................... 161 169
    Other current assets................................................................... 274 161
    Total current assets............................................................. 5,414 5,143
    Property, plant, and equipment, net............................................. 587 564
    Non-current debt and equity investments...................................... 79 128
    Acquired intangible assets......................................................... 81 76
    Other assets............................................................................. 103 110
    Total assets....................................................................... $6,264 $6,021

    LIABILITIES AND SHAREHOLDERS' EQUITY:


    Current liabilities:
    Accounts payable...................................................................... $987 $801
    Accrued expenses...................................................................... 722 717
    Total current liabilities........................................................ 1,709 1,518
    Long-term debt........................................................................ 311 317
    Deferred tax liabilities..................................................................... 230 266
    Total liabilities.................................................................. 2,250 2,101

    Commitments and contingencies

    Shareholders' equity:
    Common stock, no par value; 900,000,000 shares authorized;
    354,085,159 and 350,921,661 shares issued and outstanding,
    respectively.......................................................................... 1,747 1,693
    Acquisition-related deferred stock compensation............................ (9) (11)
    Retained earnings...................................................................... 2,338 2,260
    Accumulated other comprehensive loss......................................... (62) (22)
    Total shareholders' equity..................................................... 4,014 3,920
    Total liabilities and shareholders' equity................................. $6,264 $6,021
    CONSOLIDATED STATEMENTS OF OPERATIONS

    (In millions, except share and per share amounts)

    THREE MONTHS ENDED SIX MONTHS ENDED

    March 30, 2002 March 31, 2001 March 30, 2002 March 31, 2001

    Net sales............................................ $1,495 $1,431 $2,870 $2,438


    Cost of sales....................................... 1,086 1,046 2,039 2,074
    Gross margin...................................... 409 385 831 364

    Operating expenses:
    Research and development...................... 111 101 224 203
    Selling, general, and administrative.......... 270 292 559 589
    Restructuring costs........................ 0 0 24 0
    Total operating expenses......... 381 393 807 792
    Operating income (loss)......................... 28 (8) 24 (428)

    Gains on non-current investments, net ...... 0 5 23 76


    Unrealized loss on convertible securities.. 0 0 0 (13)
    Interest and other income, net 27 65 61 132
    Total interest and other income, net 27 70 84 195

    Income (loss) before provision for (benefit


    from) income taxes............................... 55 62 108 (233)

    Provision for (benefit from) income taxes.. 15 19 30 (69)

    Income (loss) before accounting change..... 40 43 78 (164)

    Cumulative effect of accounting change, net of income


    taxes of $5..................................... 0 0 0 12

    Net income (loss)................................. $ 40 $ 43 $ 78 $ (152)

    Earnings (loss) per common share before accounting change:


    Basic.............................................. $0.11 $0.12 $0.22 $ (0.48)
    Diluted........................................... $0.11 $0.12 $0.22 $ (0.48)

    Earnings (loss) per common share after accounting change:


    Basic.............................................. $0.11 $0.12 $0.22 $ (0.44)
    Diluted........................................... $0.11 $0.12 $0.22 $ (0.44)

    Shares used in computing earnings (loss) per share (in thousands):


    Basic.............................................. 353,480 346,080 352,405 342,179
    Diluted........................................... 365,969 352,812 361,622 342,179

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