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0000320193 | 20080201 | 10-Q | 469 | Such purchase commitments typically cover the Company’s forecasted component and manufacturing requirements for periods ranging from 30 to 150 days. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 470 | In addition, the Company has an off-balance sheet warranty obligation for products accounted for under subscription accounting pursuant to SOP No. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 471 | 97-2 whereby the Company recognizes warranty expense as incurred. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 472 | As of December 29, 2007, the Company had outstanding off-balance sheet third-party manufacturing commitments, component purchase commitments, and estimated warranty obligations of $3.2 billion. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 473 | During 2006, the Company entered into long-term supply agreements with Hynix Semiconductor, Inc., Intel Corporation, Micron Technology, Inc., Samsung Electronics Co., Ltd., and Toshiba Corporation to secure supply of NAND flash memory through calendar year 2010. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 474 | As part of these agreements, the Company prepaid $1.25 billion for flash memory components during 2006, which will be applied to certain inventory purchases made over the life of each respective agreement. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 475 | The Company utilized $250 million of the prepayment as of December 29, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 476 | Asset Retirement Obligations
The Company’s asset retirement obligations are associated with commitments to return property subject to operating leases to original condition upon lease termination. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 477 | As of December 29, 2007, the Company estimated that gross expected future cash flows of approximately $25 million would be required to fulfill these obligations. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 478 | Other Obligations
Other outstanding obligations were approximately $76 million as of December 29, 2007, primarily related to Internet and telecommunications services. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 479 | During the first quarter of 2008, the Company adopted the provisions of FIN 48. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 480 | The Company had historically classified interest and penalties and unrecognized tax benefits as current liabilities, but beginning with the adoption of FIN 48 the Company has reclassified gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one ... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 481 | As of December 29, 2007, the Company recorded gross unrecognized tax benefits of $447 million and gross interest and penalties of $213 million, both of which are classified as non-current liabilities in the Condensed Consolidated Balance Sheet. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 482 | At this time, the Company is unable to make a reasonably reliable estimate of the timing of payments in individual years due to uncertainties in the timing of tax audit outcomes. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 483 | Indemnifications
The Company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 484 | Other agreements entered into by the Company sometimes include indemnification provisions under which the Company could be subject to costs and/or damages in the event of an infringement claim against the Company or an indemnified third-party. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 485 | However, the Company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and, in the opinion of management, does not have a liability related to unresolved infringement claims subject to indemnification that would have a ... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 486 | Item 3. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 487 | Quantitative and Qualitative Disclosures About Market Risk
The Company’s market risk profile has not changed significantly during the first three months of 2008. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 488 | Interest Rate and Foreign Currency Risk Management
The Company regularly reviews its foreign exchange forward and option positions, both on a stand-alone basis and in conjunction with its underlying foreign currency and interest rate related exposures. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 489 | However, given the effective horizons of the Company’s risk management activities and the anticipatory nature of the exposures, there can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in either foreign exchange or interest rates. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 490 | In addition, the timing of the accounting for recognition of gains and losses related to mark-to-market instruments for any given period may not coincide with the timing of gains and losses related to the underlying economic exposures and, therefore, may adversely affect the Company’s financial condition and operating ... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 491 | Interest Rate Risk
While the Company is exposed to interest rate fluctuations in many of the world’s leading industrialized countries, the Company’s interest income and expense is most sensitive to fluctuations in the general level of U.S. interest rates. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 492 | As such, changes in U.S. interest rates affect the interest earned on the Company’s cash, cash equivalents, and short-term investments, the value of those investments, as well as costs associated with foreign currency hedges. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 493 | The Company’s short-term investment policy and strategy attempts to preserve capital, meet liquidity requirements, and optimize return in light of the current credit and interest rate environment. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 494 | A portion of the Company’s cash is managed by external managers within the guidelines of the Company’s investment policy and to an objective market benchmark. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 495 | The Company’s internal portfolio is benchmarked against external manager performance, allowing for differences in liquidity needs. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 496 | The Company’s exposure to market risk for changes in interest rates relates primarily to the Company’s investment portfolio. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 497 | The Company typically invests in highly-rated securities and its policy generally limits the amount of credit exposure to any one issuer. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 498 | The Company’s investment policy requires investments to be rated single-A or better with the objective of minimizing the potential risk of principal loss. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 499 | All highly liquid investments with initial
maturities of three months or less at the date of purchase are classified as cash equivalents; highly liquid investments with initial maturities greater than three months at the date of purchase are classified as short-term investments. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 500 | As of December 29, 2007 and September 29, 2007, approximately $1.9 billion of the Company’s short-term investments had underlying maturities ranging from 1 to 5 years. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 501 | The remainder all had underlying maturities of less than 12 months. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 502 | The Company may sell its investments prior to their stated maturities for strategic purposes, in anticipation of credit deterioration, or for duration management. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 503 | The Company recognized no material net gains or losses during the first quarter of 2008 or 2007 related to such sales. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 504 | Foreign Currency Risk
In general, the Company is a net receiver of currencies other than the U.S. dollar. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 505 | Accordingly, changes in exchange rates, and in particular a strengthening of the U.S. dollar, may negatively affect the Company’s net sales and gross margins as expressed in U.S. dollars. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 506 | There is also a risk that the Company will have to adjust local currency product pricing due to competitive pressures when there has been significant volatility in foreign currency exchange rates. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 507 | The Company may enter into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks associated with existing assets and liabilities, certain firmly committed transactions, forecasted future cash flows, and net investments in foreign subsidiaries. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 508 | Generally, the Company’s practice is to hedge a majority of its material foreign exchange exposures. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 509 | However, the Company may choose to not hedge certain foreign exchange exposures due to immateriality, prohibitive economic cost of hedging particular exposures, and limited availability of appropriate hedging instruments. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 510 | Item 4. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 511 | Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Based on an evaluation under the supervision and with the participation of the Company’s management, the Company’s principal executive officer and principal financial officer have concluded that the Company’s disclosure controls and procedures as ... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 512 | Changes in Internal Control Over Financial Reporting
There were no changes in the Company’s internal control over financial reporting during the first quarter of 2008, which were identified in connection with management’s evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under the Exchange Act, that have ... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 513 | PART II. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 514 | OTHER INFORMATION
Item 1. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 515 | Legal Proceedings
As of December 29, 2007, the end of the quarterly period covered by this report, the Company is subject to the various legal proceedings and claims discussed below, as well as certain other legal proceedings and claims that have not been fully resolved and that have arisen in the ordinary course of bu... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 516 | In the opinion of management, the Company does not have a potential liability related to any current legal proceedings and claims that would individually or in the aggregate have a material adverse effect on its financial condition or operating results. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 517 | However, the results of legal proceedings cannot be predicted with certainty. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 518 | Should the Company fail to prevail in any of these legal matters or should several of these legal matters be resolved against the Company in the same reporting period, the operating results of a particular reporting period could be materially adversely affected. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 519 | The Company settled certain matters during the first quarter of 2008 that did not individually or in the aggregate have a material impact on the Company’s results of operations. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 520 | Apple Computer, Inc. v. Burst.com, Inc. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 521 | The Company filed an action for declaratory judgment against defendant Burst.com, Inc. on January 4, 2006 in the United States District Court for the Northern District of California. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 522 | The Company sought declaratory judgment that U.S. Patent Nos. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 523 | 4,963,995, 5,164,839, 5,057,932 and 5,995,705 (“Burst patents”) are invalid and not infringed by the Company. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 524 | Burst filed an answer and counterclaim on April 17, 2006 adding infringement allegations relating to U.S. Patent No. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 525 | 5,995,705. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 526 | The Company counterclaimed for declaratory judgment that each of these patents is invalid, not infringed and unenforceable. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 527 | Burst alleged that the following Apple products and services infringe the four patents at issue: iTunes Store, iPod devices, iTunes software, iLife software (GarageBand, iMovie, iWeb) separately and in conjunction with the .Mac service and Apple computers sold with or running iTunes or iLife. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 528 | The Burst patents allegedly relate to methods and devices used for faster-than-real-time transmission of compressed audio and/or video files. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 529 | The Court issued its claim construction ruling on May 8, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 530 | The Company filed motions for summary judgment of invalidity on January 4, 2007 and July 13, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 531 | The Court held a hearing on those pending motions on September 18, 2007, and issued its ruling on November 8, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 532 | The Company filed motions for summary judgment and partial summary judgment relating to enablement, indefiniteness and laches on October 29, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 533 | Trial was set for February 26, 2008. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 534 | The parties have reached a settlement and the matter is concluded. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 535 | Settlement of this matter did not have a material effect on the Company’s financial condition or operating results. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 536 | Bader v. Anderson, et al. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 537 | Plaintiff filed this purported shareholder derivative action against the Company and each of its then current executive officers and members of its Board of Directors on May 19, 2005 in Santa Clara County Superior Court asserting claims for breach of fiduciary duty, material misstatements and omissions and violations o... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 538 | The complaint alleged that the Company’s March 14, 2005, proxy statement was false and misleading for failure to disclose certain information relating to the Apple Computer, Inc. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 539 | Performance Bonus Plan, which was approved by shareholders at the annual meeting held on April 21, 2005. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 540 | Plaintiff, who ostensibly brought suit on the Company’s behalf, made no demand on the Board of Directors and alleged that such demand was excused. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 541 | The complaint sought injunctive and other relief for purported injury to the Company. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 542 | On July 27, 2005, plaintiff filed an amended complaint alleging that, in addition to the purported derivative claims, adoption of the bonus plan and distribution of the proxy statement describing that plan also inflicted injury on her directly as an individual shareholder. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 543 | On January 10, 2006, the Court sustained defendants’ demurrer to the amended complaint, with leave to amend. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 544 | Plaintiff filed a second amended complaint on February 7, 2006, and the Company filed a demurrer. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 545 | After a hearing on June 13, 2006, the Court sustained the demurrer without leave to amend as to the non-director officers and with leave to amend as to the directors. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 546 | On July 24, 2006, plaintiff filed a third amended complaint, which purported to bring claims derivatively as well as directly on behalf of a class of common stockholders who have been or will be harmed by virtue of the allegedly misleading proxy statement. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 547 | In addition to reasserting prior causes of action, the third amended complaint included a claim that the Company violated the terms of the plan, and a claim for waste related to restricted stock unit grants to certain officers in 2003 and 2004 and an option grant to the Company’s CEO in January 2000. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 548 | The Company filed a demurrer to the third amended complaint. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 549 | On January 30, 2007, the Court sustained the Company’s demurrer with leave to amend. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 550 | On May 8, 2007, plaintiff filed a fourth amended complaint. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 551 | The Company filed a demurrer to the fourth amended complaint, which the Court sustained, without leave to amend, on October 12, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 552 | On October 25, 2007, the Court entered a final judgment in favor of defendant and ordered the case dismissed with prejudice. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 553 | On November 26, 2007, plaintiff filed a notice of appeal. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 554 | Birdsong v. Apple Computer, Inc. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 555 | This action alleges that the Company’s iPod music players, and the ear bud headphones sold with them, are inherently defective in design and are sold without adequate warnings concerning the risk of noise-induced hearing loss by iPod users. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 556 | The Birdsong action was initially filed on January 30, 2006 in the United States District Court for the Western District of Louisiana asserting Louisiana causes of action on behalf of a purported Louisiana class of iPod purchasers. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 557 | A similar action (Patterson v. Apple Computer, Inc.) was filed on January 31, 2006 in the United States District Court for the Northern District of California asserting California causes of action on behalf of a purported class of all iPod purchasers within the four-year period before January 31, 2006. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 558 | The Birdsong action was transferred to the Northern District of California, and the Patterson action was dismissed. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 559 | An amended complaint was subsequently filed in Birdsong, dropping the Louisiana law-based claims and adding California law-based claims equivalent to those in Patterson. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 560 | After the Company filed a motion to dismiss on November 3, 2006, plaintiffs agreed not to oppose the motion and filed a second amended complaint on January 16, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 561 | That complaint alleges California law-based claims for breaches of implied and express warranties, violations of California Business & Professions Code §17200 (unfair competition), California Business & Professions Code §17500 (false advertising), the Consumer Legal Remedies Act and negligent misrepresentation on behal... | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 562 | On March 1, 2007, the Company filed a motion to dismiss the California law-based claims, which was heard on June 4, 2007. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 563 | On December 14, 2007, the Court issued an order granting the Company’s motion, with leave to amend the complaint. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 564 | Plaintiffs filed a third amended complaint on January 11, 2008. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 565 | The Company’s response to the third amended complaint is not yet due. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 566 | A similar complaint, Royer-Brennan v. Apple Computer, Inc. and Apple Canada, Inc., was filed in Montreal, Quebec, Canada, on February 1, 2006, seeking authorization to institute a class action on behalf of iPod purchasers in Quebec. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 567 | At the request of plaintiffs’ counsel, the Court has postponed class certification proceedings in this action indefinitely. | 0001193125-08-017426/full-submission.txt |
0000320193 | 20080201 | 10-Q | 568 | Branning et al. | 0001193125-08-017426/full-submission.txt |
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