cik stringclasses 1
value | date stringlengths 8 8 | form stringclasses 4
values | sentenceCount int64 0 2.33k | sentence stringlengths 2 5.25k | filename stringlengths 40 40 |
|---|---|---|---|---|---|
0000320193 | 20170802 | 10-Q | 628 | The Company also uses encryption and authentication technologies designed to secure the transmission and storage of data and prevent access to Company data or accounts. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 629 | As with all companies, these security measures are subject to third-party security breaches, employee error, malfeasance, faulty password management or other irregularities. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 630 | For example, third parties may attempt to fraudulently induce employees or customers into disclosing user names, passwords or other sensitive information, which may in turn be used to access the Company’s information technology systems. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 631 | To help protect customers and the Company, the Company monitors accounts and systems for unusual activity and may freeze accounts under suspicious circumstances, which may result in the delay or loss of customer orders. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 632 | Apple Inc. | Q3 2017 Form 10-Q | 40
The Company devotes significant resources to network security, data encryption and other security measures to protect its systems and data, but these security measures cannot provide absolute security. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 633 | To the extent the Company was to experience a breach of its systems and was unable to protect sensitive data, such a breach could materially damage business partner and customer relationships, and curtail or otherwise adversely impact access to online stores and services. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 634 | Moreover, if a computer security breach affects the Company’s systems or results in the unauthorized release of PII, the Company’s reputation and brand could be materially damaged, use of the Company’s products and services could decrease, and the Company could be exposed to a risk of loss or litigation and possible li... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 635 | While the Company maintains insurance coverage that, subject to policy terms and conditions and subject to a significant self-insured retention, is designed to address certain aspects of cyber risks, such insurance coverage may be insufficient to cover all losses or all types of claims that may arise in the continually... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 636 | The Company is also subject to payment card association rules and obligations under its contracts with payment card processors. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 637 | Under these rules and obligations, if information is compromised, the Company could be liable to payment card issuers for associated expenses and penalties. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 638 | In addition, if the Company fails to follow payment card industry security standards, even if no customer information is compromised, the Company could incur significant fines or experience a significant increase in payment card transaction costs. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 639 | The Company’s business is subject to a variety of U.S. and international laws, rules, policies and other obligations regarding data protection. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 640 | The Company is subject to federal, state and international laws relating to the collection, use, retention, security and transfer of PII. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 641 | In many cases, these laws apply not only to third-party transactions, but also may restrict transfers of PII among the Company and its international subsidiaries. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 642 | Several jurisdictions have passed laws in this area, and other jurisdictions are considering imposing additional restrictions. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 643 | These laws continue to develop and may be inconsistent from jurisdiction to jurisdiction. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 644 | Complying with emerging and changing international requirements may cause the Company to incur substantial costs or require the Company to change its business practices. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 645 | Noncompliance could result in significant penalties or legal liability. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 646 | The Company makes statements about its use and disclosure of PII through its privacy policy, information provided on its website and press statements. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 647 | Any failure by the Company to comply with these public statements or with other federal, state or international privacy-related or data protection laws and regulations could result in proceedings against the Company by governmental entities or others. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 648 | In addition to reputational impacts, penalties could include ongoing audit requirements and significant legal liability. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 649 | The Company’s success depends largely on the continued service and availability of key personnel. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 650 | Much of the Company’s future success depends on the continued availability and service of key personnel, including its Chief Executive Officer, executive team and other highly skilled employees. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 651 | Experienced personnel in the technology industry are in high demand and competition for their talents is intense, especially in Silicon Valley, where most of the Company’s key personnel are located. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 652 | The Company’s business may be impacted by political events, war, terrorism, public health issues, natural disasters and other business interruptions. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 653 | War, terrorism, geopolitical uncertainties, public health issues and other business interruptions have caused and could cause damage or disruption to international commerce and the global economy, and thus could have a material adverse effect on the Company, its suppliers, logistics providers, manufacturing vendors and... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 654 | The Company’s business operations are subject to interruption by, among others, natural disasters, whether as a result of climate change or otherwise, fire, power shortages, nuclear power plant accidents and other industrial accidents, terrorist attacks and other hostile acts, labor disputes, public health issues and o... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 655 | Such events could decrease demand for the Company’s products, make it difficult or impossible for the Company to make and deliver products to its customers, including channel partners, or to receive components from its suppliers, and create delays and inefficiencies in the Company’s supply chain. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 656 | While the Company’s suppliers are required to maintain safe working environments and operations, an industrial accident could occur and could result in disruption to the Company’s business and harm to the Company’s reputation. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 657 | Should major public health issues, including pandemics, arise, the Company could be adversely affected by more stringent employee travel restrictions, additional limitations in freight services, governmental actions limiting the movement of products between regions, delays in production ramps of new products and disrup... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 658 | The majority of the Company’s R&D activities, its corporate headquarters, information technology systems and other critical business operations, including certain component suppliers and manufacturing vendors, are in locations that could be affected by natural disasters. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 659 | In the event of a natural disaster, the Company could incur significant losses, require substantial recovery time and experience significant expenditures in order to resume operations. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 660 | Apple Inc. | Q3 2017 Form 10-Q | 41
The Company expects its quarterly revenue and operating results to fluctuate. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 661 | The Company’s profit margins vary across its products and distribution channels. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 662 | The Company’s software, accessories, and service and support contracts generally have higher gross margins than certain of the Company’s other products. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 663 | Gross margins on the Company’s hardware products vary across product lines and can change over time as a result of product transitions, pricing and configuration changes, and component, warranty, and other cost fluctuations. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 664 | The Company’s direct sales generally have higher associated gross margins than its indirect sales through its channel partners. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 665 | In addition, the Company’s gross margin and operating margin percentages, as well as overall profitability, may be materially adversely impacted as a result of a shift in product, geographic or channel mix, component cost increases, the strengthening U.S. dollar, price competition, or the introduction of new products, ... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 666 | The Company has typically experienced higher net sales in its first quarter compared to other quarters due in part to seasonal holiday demand. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 667 | Additionally, new product introductions can significantly impact net sales, product costs and operating expenses. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 668 | Further, the Company generates a majority of its net sales from a single product and a decline in demand for that product could significantly impact quarterly net sales. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 669 | The Company could also be subject to unexpected developments late in a quarter, such as lower-than-anticipated demand for the Company’s products, issues with new product introductions, an internal systems failure, or failure of one of the Company’s logistics, components supply, or manufacturing partners. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 670 | The Company’s stock price is subject to volatility. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 671 | The Company’s stock price has experienced substantial price volatility in the past and may continue to do so in the future. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 672 | Additionally, the Company, the technology industry and the stock market as a whole have experienced extreme stock price and volume fluctuations that have affected stock prices in ways that may have been unrelated to these companies’ operating performance. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 673 | Price volatility over a given period may cause the average price at which the Company repurchases its own stock to exceed the stock’s price at a given point in time. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 674 | The Company believes its stock price should reflect expectations of future growth and profitability. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 675 | The Company also believes its stock price should reflect expectations that its cash dividend will continue at current levels or grow and that its current share repurchase program will be fully consummated. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 676 | Future dividends are subject to declaration by the Company’s Board of Directors, and the Company’s share repurchase program does not obligate it to acquire any specific number of shares. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 677 | If the Company fails to meet expectations related to future growth, profitability, dividends, share repurchases or other market expectations, its stock price may decline significantly, which could have a material adverse impact on investor confidence and employee retention. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 678 | The Company’s financial performance is subject to risks associated with changes in the value of the U.S. dollar versus local currencies. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 679 | The Company’s primary exposure to movements in foreign currency exchange rates relates to non-U.S. dollar-denominated sales and operating expenses worldwide. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 680 | Weakening of foreign currencies relative to the U.S. dollar adversely affects the U.S. dollar value of the Company’s foreign currency-denominated sales and earnings, and generally leads the Company to raise international pricing, potentially reducing demand for the Company’s products. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 681 | Margins on sales of the Company’s products in foreign countries and on sales of products that include components obtained from foreign suppliers, could be materially adversely affected by foreign currency exchange rate fluctuations. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 682 | In some circumstances, for competitive or other reasons, the Company may decide not to raise local prices to fully offset the dollar’s strengthening, or at all, which would adversely affect the U.S. dollar value of the Company’s foreign currency-denominated sales and earnings. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 683 | Conversely, a strengthening of foreign currencies relative to the U.S. dollar, while generally beneficial to the Company’s foreign currency-denominated sales and earnings, could cause the Company to reduce international pricing and incur losses on its foreign currency derivative instruments, thereby limiting the benefi... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 684 | Additionally, strengthening of foreign currencies may also increase the Company’s cost of product components denominated in those currencies, thus adversely affecting gross margins. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 685 | The Company uses derivative instruments, such as foreign currency forward and option contracts, to hedge certain exposures to fluctuations in foreign currency exchange rates. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 686 | The use of such hedging activities may not offset any, or more than a portion, of the adverse financial effects of unfavorable movements in foreign exchange rates over the limited time the hedges are in place. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 687 | The Company is exposed to credit risk and fluctuations in the market values of its investment portfolio. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 688 | Given the global nature of its business, the Company has both domestic and international investments. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 689 | Credit ratings and pricing of the Company’s investments can be negatively affected by liquidity, credit deterioration, financial results, economic risk, political risk, sovereign risk or other factors. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 690 | As a result, the value and liquidity of the Company’s cash, cash equivalents and marketable securities may fluctuate substantially. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 691 | Therefore, although the Company has not realized any significant losses on its cash, cash equivalents and marketable securities, future fluctuations in their value could result in significant realized losses. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 692 | Apple Inc. | Q3 2017 Form 10-Q | 42
The Company is exposed to credit risk on its trade accounts receivable, vendor non-trade receivables and prepayments related to long-term supply agreements, and this risk is heightened during periods when economic conditions worsen. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 693 | The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and value-added resellers. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 694 | The Company also sells its products directly to small and mid-sized businesses and education, enterprise and government customers. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 695 | A substantial majority of the Company’s outstanding trade receivables are not covered by collateral, third-party financing arrangements or credit insurance. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 696 | The Company’s exposure to credit and collectability risk on its trade receivables is higher in certain international markets and its ability to mitigate such risks may be limited. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 697 | The Company also has unsecured vendor non-trade receivables resulting from purchases of components by outsourcing partners and other vendors that manufacture sub-assemblies or assemble final products for the Company. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 698 | In addition, the Company has made prepayments associated with long-term supply agreements to secure supply of inventory components. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 699 | As of July 1, 2017, a significant portion of the Company’s trade receivables was concentrated within cellular network carriers, and its vendor non-trade receivables and prepayments related to long-term supply agreements were concentrated among a few individual vendors located primarily in Asia. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 700 | While the Company has procedures to monitor and limit exposure to credit risk on its trade and vendor non-trade receivables, as well as long-term prepayments, there can be no assurance such procedures will effectively limit its credit risk and avoid losses. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 701 | The Company could be subject to changes in its tax rates, the adoption of new U.S. or international tax legislation or exposure to additional tax liabilities. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 702 | The Company is subject to taxes in the U.S. and numerous foreign jurisdictions, including Ireland, where a number of the Company’s subsidiaries are organized. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 703 | Due to economic and political conditions, tax rates in various jurisdictions may be subject to significant change. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 704 | The Company’s effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory tax rates, changes in the valuation of deferred tax assets and liabilities, or changes in tax laws or their interpretation, including in the U.S. and Ireland. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 705 | The Company is also subject to the examination of its tax returns and other tax matters by the IRS and other tax authorities and governmental bodies. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 706 | The Company regularly assesses the likelihood of an adverse outcome resulting from these examinations to determine the adequacy of its provision for taxes. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 707 | There can be no assurance as to the outcome of these examinations. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 708 | If the Company’s effective tax rates were to increase, particularly in the U.S. or Ireland, or if the ultimate determination of the Company’s taxes owed is for an amount in excess of amounts previously accrued, the Company’s financial condition, operating results and cash flows could be adversely affected. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 709 | Apple Inc. | Q3 2017 Form 10-Q | 43
Item 2. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 710 | Unregistered Sales of Equity Securities and Use of Proceeds
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Share repurchase activity during the three months ended July 1, 2017 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts):
(1)
In M... | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 711 | The remaining $52 billion in the table represents the amount available to repurchase shares under the authorized repurchase program as of July 1, 2017. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 712 | The Company’s share repurchase program does not obligate it to acquire any specific number of shares. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 713 | Under the program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 714 | (2)
In February 2017, the Company entered into an accelerated share repurchase arrangement (“ASR”) to purchase up to $3.0 billion of the Company’s common stock. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 715 | In May 2017, the purchase period for this ASR ended and an additional 3.4 million shares were delivered and retired. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 716 | In total, 20.9 million shares were delivered under this ASR at an average repurchase price of $143.20. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 717 | (3)
In May 2017, the Company entered into a new ASR to purchase up to $3.0 billion of the Company’s common stock. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 718 | In exchange for an up-front payment of $3.0 billion, the financial institution party to the arrangement committed to deliver shares to the Company during the ASR’s purchase period, which will end in August 2017. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 719 | The total number of shares ultimately delivered, and therefore the average price paid per share, will be determined at the end of the applicable purchase period based on the volume-weighted average price of the Company’s common stock during that period. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 720 | Item 3. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 721 | Defaults Upon Senior Securities
None. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 722 | Item 4. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 723 | Mine Safety Disclosures
Not applicable. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 724 | Item 5. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 725 | Other Information
None. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 726 | Apple Inc. | Q3 2017 Form 10-Q | 44
Item 6. | 0000320193-17-000009/full-submission.txt |
0000320193 | 20170802 | 10-Q | 727 | Exhibits
Exhibit Index
Incorporated by Reference
Exhibit
Number
Exhibit Description
Form
Exhibit
Filing Date/
Period End Date
4.1
Officer’s Certificate of the Registrant, dated as of May 11, 2017, including forms of global notes representing the Floating Rate Notes due 2020, Floating Rate Notes due 2022, 1.800% Notes d... | 0000320193-17-000009/full-submission.txt |
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