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0000320193
20110421
10-Q
735
The Company is exposed to credit risk and fluctuations in the market values of its investment portfolio.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
736
Although the Company has not recognized any significant losses to date on its cash, cash equivalents and marketable securities, any significant future declines in their market values could materially adversely affect the Company’s financial condition and operating results.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
737
Given the global nature of its business, the Company has investments both domestically and internationally.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
738
Credit ratings and pricing of these investments can be negatively impacted by liquidity, credit deterioration or losses, financial results, or other factors.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
739
As a result, the value or liquidity of the Company’s cash, cash equivalents and marketable securities could decline and result in a material impairment, which could materially adversely affect the Company’s financial condition and operating results.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
740
The Company is exposed to credit risk on its trade accounts receivable, vendor non-trade receivables and prepayments related to long-term supply agreements.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
741
This risk is heightened during periods when economic conditions worsen.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
742
The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and value-added resellers.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
743
A substantial majority of the Company’s outstanding trade receivables are not covered by collateral or credit insurance.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
744
The Company’s exposure to credit and collectability risk on its trade receivables are increased in certain international markets and its ability to mitigate such risks may be limited.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
745
Cellular network carriers accounted for a significant portion of the Company’s trade receivables as of March 26, 2011.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
746
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.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
747
Two vendors accounted for a significant portion of the Company’s non-trade receivables as of March 26, 2011.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
748
In addition, the Company has made prepayments associated with long-term supply agreements to secure supply of certain inventory components.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
749
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, which could materially adversely affect the Company’s financial...
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
750
Unfavorable results of legal proceedings could materially adversely affect the Company.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
751
The Company is subject to various legal proceedings and claims that have arisen out of the ordinary conduct of its business and are not yet resolved and additional claims may arise in the future.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
752
Results of legal proceedings cannot be predicted with certainty.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
753
Regardless of merit, litigation may be both time-consuming and disruptive to the Company’s operations and cause significant expense and diversion of management attention.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
754
In recognition of these considerations, the Company may enter into material settlements.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
755
Should the Company fail to prevail in certain matters, or should several of these matters be resolved against the Company in the same reporting period, the Company may be faced with significant compensatory, punitive or trebled monetary damages, disgorgement of revenues or profits, remedial corporate measures or injunc...
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
756
The Company is subject to risks associated with laws and regulations related to health, safety and environmental protection.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
757
The Company’s products and services, and the production and distribution of those goods and services, are subject to a variety of laws and regulations.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
758
These may require the Company to offer customers the ability to return a product at the end of its useful life and place responsibility for environmentally safe disposal or recycling with the Company.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
759
Such laws and regulations have been passed in several jurisdictions in which the Company operates, including various countries within Europe and Asia and certain states and provinces within North America.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
760
Although the Company does not anticipate any material adverse effects based on the nature of its operations and the focus of such laws, there is no assurance such existing laws or future laws will not materially adversely affect the Company’s financial condition and operating results.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
761
Changes in the Company’s tax rates, the adoption of new U.S. or international tax legislation or exposure to additional tax liabilities could affect its future results.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
762
The Company is subject to taxes in the United States and numerous foreign jurisdictions.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
763
The Company’s future 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.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
764
In addition, the current administration and Congress have announced proposals for new U.S. tax legislation that, if adopted, could adversely affect the Company’s tax rate.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
765
Any of these changes could have a material adverse effect on the Company’s profitability.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
766
The Company is also subject to the continual examination of its income tax returns by the Internal Revenue Service and other tax authorities.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
767
The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for taxes.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
768
There can be no assurance that the outcomes from these examinations will not materially adversely affect the Company’s financial condition and operating results.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
769
The Company is subject to risks associated with the availability and coverage of insurance.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
770
For certain risks, the Company does not maintain insurance coverage because of cost and/or availability.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
771
Because the Company retains some portion of its insurable risks, and in some cases self-insures completely, unforeseen or catastrophic losses in excess of insured limits could materially adversely affect the Company’s financial condition and operating results.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
772
Item 2.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
773
Unregistered Sales of Equity Securities and Use of Proceeds None.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
774
Item 3.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
775
Defaults Upon Senior Securities None.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
776
Item 5.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
777
Other Information (a) The Board of Directors amended the Bylaws of the Company, effective April 20, 2011, to clarify that the bylaws governing advance notice requirements for shareholder business and nominations shall not be deemed to affect any rights of shareholders to request inclusion of proposals or nominations in...
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
778
A copy of the Amended Bylaws, effective April 20, 2011, is filed hereto as Exhibit 3.2 and is incorporated herein by reference.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
779
Item 6.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
780
Exhibits (a) Index to Exhibits Exhibit Description Incorporated by Reference Exhibit Number Form Filing Date/ Period End Date 3.1 Restated Articles of Incorporation, filed with the Secretary of State of the State of California on July 10, 2009.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
781
10-Q 6/27/09 3.2** Bylaws of the Registrant, as amended through April 20, 2011.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
782
4.1 Form of Stock Certificate of the Registrant.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
783
10-Q 12/30/06 10.1* Employee Stock Purchase Plan, as amended through March 8, 2010.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
784
10-Q 3/27/10 10.2* Form of Indemnification Agreement between the Registrant and each director and executive officer of the Registrant.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
785
10-Q 6/27/09 10.3* 1997 Director Stock Plan, as amended through February 25, 2010.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
786
8-K 3/1/10 10.4* 2003 Employee Stock Plan, as amended through February 25, 2010.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
787
8-K 3/1/10 10.5* Reimbursement Agreement dated as of May 25, 2001 by and between the Registrant and Steven P. Jobs.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
788
10-Q 6/29/02 10.6* Form of Option Agreement.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
789
10-K 9/24/05 10.7* Form of Restricted Stock Unit Award Agreement effective as of August 28, 2007.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
790
10-K 9/29/07 10.8* Form of Restricted Stock Unit Award Agreement effective as of November 11, 2008.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
791
10-Q 12/27/08 10.9* Form of Restricted Stock Unit Award Agreement effective as of November 16, 2010.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
792
10-Q 12/25/10 14.1 Business Conduct Policy of the Registrant dated July 2010.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
793
10-K 9/25/10 31.1** Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
794
31.2** Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
795
32.1*** Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
796
101.INS**** XBRL Instance Document 101.SCH**** XBRL Taxonomy Extension Schema Document 101.CAL**** XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF**** XBRL Taxonomy Extension Definition Linkbase Document 101.LAB**** XBRL Taxonomy Extension Label Linkbase Document 101.PRE**** XBRL Taxonomy Extension Presen...
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
797
** Filed herewith.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
798
*** Furnished herewith.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
799
**** Pursuant to applicable securities laws and regulations, the Company is deemed to have complied with the reporting obligation relating to the submission of interactive data files in such exhibits and is not subject to liability under any anti-fraud provisions of the federal securities laws as long as the Company ha...
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
800
Users of this data are advised that, pursuant to Rule 406T, these interactive data files are deemed not filed and otherwise are not subject to liability.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
801
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.
0001193125-11-104388/full-submission.txt
0000320193
20110421
10-Q
802
April 21, 2011 APPLE INC. By: /s/ Peter Oppenheimer Peter Oppenheimer Senior Vice President, Chief Financial Officer
0001193125-11-104388/full-submission.txt
0000320193
20200129
10-Q
0
10-Q a10-qq1202012282019.htm 10-Q Document 27000000002400000000P1Y0false--09-26Q1202000003201930.000010.000011260000000012600000000444323600043849590004443236000438495900013600000020000000000.04650.0050.003502900000000P1YP1YP1Y UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One)...
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
1
Commission File Number: 001-36743 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.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
2
Employer Identification No.)
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
3
One Apple Park Way Cupertino California (Address of principal executive offices) (Zip Code) (408) 996-1010 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $0.000...
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
4
Yes ☒ No ☐ Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
5
Yes ☒ No ☐ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
6
See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
7
Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards p...
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
8
☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
9
Yes ☐ No ☒ 4,375,480,000 shares of common stock were issued and outstanding as of January 17, 2020.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
10
Apple Inc. Form 10-Q For the Fiscal Quarter Ended December 28, 2019 PART I - FINANCIAL INFORMATION Item 1.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
11
Financial Statements Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares which are reflected in thousands and per share amounts) See accompanying Notes to Condensed Consolidated Financial Statements.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
12
Apple Inc. | Q1 2020 Form 10-Q | 1 Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In millions) See accompanying Notes to Condensed Consolidated Financial Statements.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
13
Apple Inc. | Q1 2020 Form 10-Q | 2 Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares which are reflected in thousands and par value) See accompanying Notes to Condensed Consolidated Financial Statements.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
14
Apple Inc. | Q1 2020 Form 10-Q | 3 Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) (In millions, except per share amounts) See accompanying Notes to Condensed Consolidated Financial Statements.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
15
Apple Inc. | Q1 2020 Form 10-Q | 4 Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) See accompanying Notes to Condensed Consolidated Financial Statements.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
16
Apple Inc. | Q1 2020 Form 10-Q | 5 Apple Inc. Notes to Condensed Consolidated Financial Statements (Unaudited) Note 1 - Summary of Significant Accounting Policies Basis of Presentation and Preparation The condensed consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (c...
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
17
Intercompany accounts and transactions have been eliminated.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
18
In the opinion of the Company’s management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
19
The preparation of these condensed consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
20
Actual results could differ materially from those estimates.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
21
These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the fiscal year ended September 28, 2019 (the “2019 Form 10-K”).
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
22
The Company’s fiscal year is the 52- or 53-week period that ends on the last Saturday of September.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
23
A 14th week is included in the first fiscal quarter every five or six years to realign the Company’s fiscal quarters with calendar quarters.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
24
The Company’s fiscal years 2020 and 2019 span 52 weeks each.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
25
Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company’s fiscal years ended in September and the associated quarters, months and periods of those fiscal years.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
26
Recently Adopted Accounting Pronouncements Leases At the beginning of the first quarter of 2020, the Company adopted the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Update (“ASU”) No.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
27
2016-02, Leases (Topic 842) (“ASU 2016-02”), and additional ASUs issued to clarify and update the guidance in ASU 2016-02 (collectively, the “new leases standard”), which modifies lease accounting for lessees to increase transparency and comparability by recording lease assets and liabilities for operating leases and d...
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
28
The Company adopted the new leases standard utilizing the modified retrospective transition method, under which amounts in prior periods presented were not restated.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
29
For contracts existing at the time of adoption, the Company elected to not reassess (i) whether any are or contain leases, (ii) lease classification, and (iii) initial direct costs.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
30
Upon adoption, the Company recorded $7.5 billion of right-of-use (“ROU”) assets and $8.1 billion of lease liabilities on its Condensed Consolidated Balance Sheet.
0000320193-20-000010/full-submission.txt
0000320193
20200129
10-Q
31
Hedging At the beginning of the first quarter of 2020, the Company adopted FASB ASU No.
0000320193-20-000010/full-submission.txt