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|---|---|---|---|---|---|
0000320193 | 20180801 | 10-Q | 730 | The Company’s stock price is subject to volatility. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 731 | The Company’s stock price has experienced substantial price volatility in the past and may continue to do so in the future. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 732 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 733 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 734 | The Company believes its stock price should reflect expectations of future growth and profitability. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 735 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 736 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 737 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 738 | Apple Inc. | Q3 2018 Form 10-Q | 44
The Company’s financial performance is subject to risks associated with changes in the value of the U.S. dollar versus local currencies. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 739 | The Company’s primary exposure to movements in foreign currency exchange rates relates to non-U.S. dollar-denominated sales and operating expenses worldwide. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 740 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 741 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 742 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 743 | 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... | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 744 | Additionally, strengthening of foreign currencies may increase the Company’s cost of product components denominated in those currencies, thus adversely affecting gross margins. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 745 | The Company uses derivative instruments, such as foreign currency forward and option contracts, to hedge certain exposures to fluctuations in foreign currency exchange rates. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 746 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 747 | The Company is exposed to credit risk and fluctuations in the market values of its investment portfolio. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 748 | Given the global nature of its business, the Company has both domestic and international investments. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 749 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 750 | As a result, the value and liquidity of the Company’s cash, cash equivalents and marketable securities may fluctuate substantially. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 751 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 752 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 753 | The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and resellers. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 754 | The Company also sells its products directly to small and mid-sized businesses and education, enterprise and government customers. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 755 | A substantial majority of the Company’s outstanding trade receivables are not covered by collateral, third-party bank support or financing arrangements, or credit insurance. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 756 | The Company’s exposure to credit and collectibility risk on its trade receivables is higher in certain international markets and its ability to mitigate such risks may be limited. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 757 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 758 | In addition, the Company has made prepayments associated with long-term supply agreements to secure supply of inventory components. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 759 | As of June 30, 2018, 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 760 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 761 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 762 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 763 | Due to economic and political conditions, tax rates in various jurisdictions may be subject to significant change. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 764 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 765 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 766 | The Company regularly assesses the likelihood of an adverse outcome resulting from these examinations to determine the adequacy of its provision for taxes. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 767 | There can be no assurance as to the outcome of these examinations. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 768 | 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 769 | Apple Inc. | Q3 2018 Form 10-Q | 45
Item 2. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 770 | 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 June 30, 2018 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts):
(1)
On ... | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 771 | The remaining $90.4 billion in the table represents the amount available to repurchase shares under the new authorized repurchase program as of June 30, 2018. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 772 | The Company’s new share repurchase program does not obligate it to acquire any specific number of shares. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 773 | Under this 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. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 774 | (2)
During the third quarter of 2018, the Company repurchased $10.4 billion of its common stock under its previous share repurchase program of up to $210 billion, thereby completing that program. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 775 | Item 3. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 776 | Defaults Upon Senior Securities
None. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 777 | Item 4. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 778 | Mine Safety Disclosures
Not applicable. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 779 | Item 5. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 780 | Other Information
None. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 781 | Apple Inc. | Q3 2018 Form 10-Q | 46
Item 6. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 782 | Exhibits
Incorporated by Reference
Exhibit
Number
Exhibit Description
Form
Exhibit
Filing Date/
Period End Date
31.1*
Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 783 | 31.2*
Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 784 | 32.1**
Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 785 | 101.INS*
XBRL Instance Document. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 786 | 101.SCH*
XBRL Taxonomy Extension Schema Document. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 787 | 101.CAL*
XBRL Taxonomy Extension Calculation Linkbase Document. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 788 | 101.DEF*
XBRL Taxonomy Extension Definition Linkbase Document. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 789 | 101.LAB*
XBRL Taxonomy Extension Label Linkbase Document. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 790 | 101.PRE*
XBRL Taxonomy Extension Presentation Linkbase Document. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 791 | *
Filed herewith. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 792 | **
Furnished herewith. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 793 | Apple Inc. | Q3 2018 Form 10-Q | 47
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. | 0000320193-18-000100/full-submission.txt |
0000320193 | 20180801 | 10-Q | 794 | August 1, 2018
Apple Inc.
By:
/s/ Luca Maestri
Luca Maestri
Senior Vice President,
Chief Financial Officer
Apple Inc. | Q3 2018 Form 10-Q | 48 | 0000320193-18-000100/full-submission.txt |
0000320193 | 20110421 | 10-Q | 0 | 10-Q d10q.htm FORM 10-Q
Form 10-Q
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 26, 2011
or
¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF... | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 1 | Commission file number: 000-10030
APPLE INC.
(Exact name of Registrant as specified in its charter)
California
94-2404110
(State or other jurisdiction
of incorporation or organization)
(I.R.S. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 2 | Employer Identification No.) | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 3 | 1 Infinite Loop
Cupertino, California
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (408) 996-1010
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during t... | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 4 | Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period... | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 5 | Yes x No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 6 | See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 7 | Large accelerated filer
x
Accelerated filer
¨
Non-accelerated filer
¨ (Do not check if a smaller reporting company)
Smaller reporting company
¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 8 | Yes ¨ No x
924,754,561 shares of common stock issued and outstanding as of April 8, 2011
PART I. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 9 | FINANCIAL INFORMATION
Item 1. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 10 | Financial Statements
APPLE INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(in millions, except share amounts which are reflected in thousands and per share amounts)
See accompanying Notes to Condensed Consolidated Financial Statements. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 11 | APPLE INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(in millions, except share amounts)
See accompanying Notes to Condensed Consolidated Financial Statements. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 12 | APPLE INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in millions)
See accompanying Notes to Condensed Consolidated Financial Statements. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 13 | Apple Inc.
Notes to Condensed Consolidated Financial Statements (Unaudited)
Note 1 - Summary of Significant Accounting Policies
Apple Inc. and its wholly-owned subsidiaries (collectively “Apple” or the “Company”) designs, manufactures, and markets mobile communication and media devices, personal computers, and portable... | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 14 | The Company sells its products worldwide through its retail stores, online stores, and direct sales force, as well as third-party cellular network carriers, wholesalers, resellers and value-added resellers. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 15 | In addition, the Company sells a variety of third-party iPhone, iPad, Macintosh (“Mac”), and iPod compatible products including application software, printers, storage devices, speakers, headphones, and various other accessories and supplies through its online and retail stores. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 16 | The Company sells to consumers, small and mid-sized businesses, education, enterprise and government customers. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 17 | Basis of Presentation and Preparation
The accompanying condensed consolidated financial statements include the accounts of the Company. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 18 | Intercompany accounts and transactions have been eliminated. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 19 | The preparation of these condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 20 | Actual results could differ materially from those estimates. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 21 | Certain prior period amounts in the condensed consolidated financial statements and notes thereto have been reclassified to conform to the current period’s presentation. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 22 | These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and the notes thereto for the fiscal year ended September 25, 2010, included in its Annual Report on Form 10-K (the “2010 Form 10-K”). | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 23 | Unless otherwise stated, references to particular years or quarters refer to the Company’s fiscal years ended in September and the associated quarters of those fiscal years. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 24 | During the first quarter of 2011, the Company adopted the Financial Accounting Standard Board’s (“FASB”) new accounting standard on consolidation of variable interest entities. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 25 | This new accounting standard eliminates the mandatory quantitative approach in determining control for evaluating whether variable interest entities need to be consolidated in favor of a qualitative analysis, and requires an ongoing reassessment of control over such entities. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 26 | The adoption of this new accounting standard did not impact the Company’s condensed consolidated financial statements. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 27 | Earnings Per Common Share
Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 28 | Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive secur... | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 29 | Potentially dilutive securities include outstanding options, shares to be purchased under the employee stock purchase plan, and unvested restricted stock units (“RSUs”). | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 30 | The dilutive effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury stock method. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 31 | Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 32 | The following table summarizes the computation of basic and diluted earnings per common share for the three- and six-month periods ended March 26, 2011 and March 27, 2010 (in thousands, except net income in millions and per share amounts):
Potentially dilutive securities representing approximately 220,000 shares and 1.... | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 33 | Fair Value Measurements
Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. | 0001193125-11-104388/full-submission.txt |
0000320193 | 20110421 | 10-Q | 34 | Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:
Level 1 - Quoted prices in active marke... | 0001193125-11-104388/full-submission.txt |
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