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0000320193
20030513
10-Q
791
Foreign Currency Risk Overall, the Company is a net receiver of currencies other than the U.S. dollar and, as such, generally benefits from a weaker dollar and is adversely affected by a stronger dollar relative to major currencies worldwide.
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792
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.
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793
There is also a risk that the Company will have to adjust local currency product pricing within the time frame of our hedged positions due to competitive pressures when there has been significant volatility in foreign currency exchange rates.
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10-Q
794
The Company enters into foreign currency forward and option contracts with financial institutions primarily to protect against foreign exchange risks associated with existing assets and liabilities, certain firmly committed transactions, and probable but not firmly committed transactions.
0001104659-03-009489/full-submission.txt
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10-Q
795
Generally, the Company’s practice is to hedge a majority of its existing material foreign exchange transaction exposures.
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10-Q
796
However, the Company may not hedge certain foreign exchange transaction exposures due to immateriality, prohibitive economic cost of hedging particular exposures, and limited availability of appropriate hedging instruments.
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797
The Company also enters into foreign currency forward and option contracts to offset the foreign exchange gains and losses generated by the re-measurement of certain recorded assets and liabilities denominated in non-functional currencies of its foreign subsidiaries.
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798
Item 4.
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Controls and Procedures Based on an evaluation under the supervision and with the participation of the Company’s management as of a date within 90 days of the filing date of this Quarterly Report on Form 10-Q, the Company’s principal executive officer and principal financial officer have concluded that the Company’s di...
0001104659-03-009489/full-submission.txt
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10-Q
800
There were no significant changes in the Company’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation.
0001104659-03-009489/full-submission.txt
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801
There were no significant deficiencies or material weaknesses identified, and therefore there were no corrective resulting actions taken.
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10-Q
802
However, the design of any system of controls is based in part upon certain assumptions about the likelihood of future events and there is no certainty that any design will succeed in achieving its stated goal under all potential future considerations.
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803
PART II.
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804
OTHER INFORMATION Item 1.
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805
Legal Proceedings The Company is subject to various legal proceedings and claims that are discussed below and/or in the 2002 Form 10-K.
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The Company is also subject to certain other legal proceedings and claims that have arisen in the ordinary course of business and which have not been fully adjudicated.
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807
In the opinion of management, the Company does not have a potential liability related to any current legal proceedings and claims that would have a material adverse effect on its financial condition, liquidity or results of operations.
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808
However, the results of legal proceedings cannot be predicted with certainty.
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809
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.
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810
Pitney Bowes Inc. v. Apple Computer, Inc.
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811
Plaintiff Pitney Bowes filed this patent infringement action on June 18, 2001 alleging patent infringement relating to laser printer technology.
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812
Plaintiff has filed similar lawsuits against other companies.
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813
Plaintiff sought unspecified damages and other relief.
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814
The Company answered the complaint, denying all allegations and asserting numerous affirmative defenses.
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The Company settled this matter during the second quarter of 2003 for an amount that did not have a material adverse effect on its financial condition, liquidity or results of operations.
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10-Q
816
Hawaii Structural Iron Workers and Pension Trust Fund v. Apple Computer, Inc. and Steven P. Jobs; Young v. Apple Computer, Inc. et al; Hsu v. Apple Computer Inc. et al Beginning on September 27, 2001, three shareholder class action lawsuits were filed in the United States District Court for the Northern District of Cal...
0001104659-03-009489/full-submission.txt
0000320193
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10-Q
817
These lawsuits are substantially identical, and purport to bring suit on behalf of persons who purchased the Company’s publicly traded common stock between July 19, 2000, and September 28, 2000.
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818
The complaints allege violations of the 1934 Securities Exchange Act and seek unspecified compensatory damages and other relief.
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819
The Company believes these claims are without merit and intends to defend them vigorously.
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820
The Company filed a motion to dismiss on June 4, 2002, which was heard by the Court on September 13, 2002.
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821
On December 11, 2002, the Court granted the Company’s motion to dismiss for failure to state a cause of action, with leave to plaintiffs to amend their complaint within thirty days.
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Plaintiffs filed their amended complaint on January 31, 2003, and on March 17, 2003, the Company filed a motion to dismiss the amended complaint.
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A hearing on the Company’s motion is currently scheduled for July 2003.
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Item 4.
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Submission of Matters to a Vote of Security Holders The annual meeting of shareholders was held on April 24, 2003.
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826
Proposals I, II, III, IV and V were approved.
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The results are as follows: Proposal I The following directors were elected at the meeting to serve a one-year term as directors: Proposal II The proposal to amend the Company’s Employee Stock Purchase Plan to increase the number of shares of Common Stock reserved for issuance thereunder by 4,000,000 shares.
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Proposal III The proposal to amend the Company’s 1998 Executive Officer Stock Plan (the 1998 Plan) to allow for broad-based grants to all employees.
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Proposal IV Ratification of appointment of KPMG LLP as the Company’s independent auditors for fiscal year 2003.
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Proposal V A shareholder proposal requesting that the Board of Directors establish a policy of expensing in the Company’s annual income statement the cost of all future stock options issued by the Company.
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The proposals above are described in detail in the Registrant’s definitive proxy statement dated March 24, 2003, for the Annual Meeting of Shareholders held on April 24, 2003.
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832
Item 6.
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833
Exhibits and Reports on Form 8-K (a) Index to Exhibits (b) Reports on Form 8-K The Company filed a current report on Form 8-K on March 21, 2003, to reference and file as exhibits press releases issued to the public by the Company on March 19, 2002, and March 20, 2003.
0001104659-03-009489/full-submission.txt
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834
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.
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835
APPLE COMPUTER, INC. (Registrant) By: /s/ Fred D. Anderson Fred D. Anderson Executive Vice President and Chief Financial Officer May 13, 2003 CERTIFICATIONS I, Steven P. Jobs, certify that: 1.
0001104659-03-009489/full-submission.txt
0000320193
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836
I have reviewed this quarterly report on Form 10-Q of Apple Computer, Inc.; 2.
0001104659-03-009489/full-submission.txt
0000320193
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10-Q
837
Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report; 3...
0001104659-03-009489/full-submission.txt
0000320193
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10-Q
838
Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report; 4.
0001104659-03-009489/full-submission.txt
0000320193
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839
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have: a) designed such disclosure controls and procedures to ensure that material information relating to th...
0001104659-03-009489/full-submission.txt
0000320193
20030513
10-Q
840
The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls ...
0001104659-03-009489/full-submission.txt
0000320193
20030513
10-Q
841
The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with re...
0001104659-03-009489/full-submission.txt
0000320193
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842
May 13, 2003 By: /s/ Steven P. Jobs Steven P. Jobs Chief Executive Officer I, Fred D. Anderson, certify that: 1.
0001104659-03-009489/full-submission.txt
0000320193
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843
I have reviewed this quarterly report on Form 10-Q of Apple Computer, Inc.; 2.
0001104659-03-009489/full-submission.txt
0000320193
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10-Q
844
Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report; 3...
0001104659-03-009489/full-submission.txt
0000320193
20030513
10-Q
845
Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report; 4.
0001104659-03-009489/full-submission.txt
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846
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have: a) designed such disclosure controls and procedures to ensure that material information relating to th...
0001104659-03-009489/full-submission.txt
0000320193
20030513
10-Q
847
The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls ...
0001104659-03-009489/full-submission.txt
0000320193
20030513
10-Q
848
The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with re...
0001104659-03-009489/full-submission.txt
0000320193
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849
May 13, 2003 By: /s/ Fred D. Anderson Fred D. Anderson Executive Vice President and Chief Financial Officer
0001104659-03-009489/full-submission.txt
0000320193
20150428
10-Q
0
10-Q d892246d10q.htm 10-Q 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 28, 2015 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH...
0001193125-15-153166/full-submission.txt
0000320193
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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.
0001193125-15-153166/full-submission.txt
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2
Employer Identification No.)
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3
1 Infinite Loop Cupertino, California (Address of principal executive offices) (Zip Code) (408) 996-1010 (Registrant’s telephone number, including area code) 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 ...
0001193125-15-153166/full-submission.txt
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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...
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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.
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See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
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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).
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8
Yes ¨ No x 5,761,030,000 shares of common stock, par value $0.00001 per share, issued and outstanding as of April 10, 2015 Apple Inc. Form 10-Q For the Fiscal Quarter Ended March 28, 2015 Page Part I Item 1.
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9
Financial Statements Item 2.
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Management’s Discussion and Analysis of Financial Condition and Results of Operations Item 3.
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Quantitative and Qualitative Disclosures About Market Risk Item 4.
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12
Controls and Procedures Part II Item 1.
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13
Legal Proceedings Item 1A.
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14
Risk Factors Item 2.
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15
Unregistered Sales of Equity Securities and Use of Proceeds Item 3.
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16
Defaults Upon Senior Securities Item 4.
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17
Mine Safety Disclosures Item 5.
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Other Information Item 6.
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19
Exhibits PART I-FINANCIAL INFORMATION Item 1.
0001193125-15-153166/full-submission.txt
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20
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.
0001193125-15-153166/full-submission.txt
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21
Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In millions) See accompanying Notes to Condensed Consolidated Financial Statements.
0001193125-15-153166/full-submission.txt
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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.
0001193125-15-153166/full-submission.txt
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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) See accompanying Notes to Condensed Consolidated Financial Statements.
0001193125-15-153166/full-submission.txt
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24
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 d...
0001193125-15-153166/full-submission.txt
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25
The Company sells its products worldwide through its retail stores, online stores and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers and value-added resellers.
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26
In addition, the Company sells a variety of third-party iPhone, iPad, Mac and iPod compatible products, including application software, and various accessories through its online and retail stores.
0001193125-15-153166/full-submission.txt
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27
The Company sells to consumers, small and mid-sized businesses and education, enterprise and government customers.
0001193125-15-153166/full-submission.txt
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28
Basis of Presentation and Preparation The accompanying condensed consolidated financial statements include the accounts of the Company.
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29
Intercompany accounts and transactions have been eliminated.
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30
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.
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31
Actual results could differ materially from those estimates.
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32
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 27, 2014, included in its Annual Report on Form 10-K as updated by the Company’s Current Report on ...
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33
The Company’s fiscal year is the 52 or 53-week period that ends on the last Saturday of September.
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34
An additional week is included in the first fiscal quarter approximately every six years to realign fiscal quarters with calendar quarters.
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35
The Company’s fiscal years 2015 and 2014 each include 52 weeks.
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36
Unless otherwise stated, references to particular years, quarters or months refer to the Company’s fiscal years ended in September and the associated quarters or months of those fiscal years.
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Earnings Per Share Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period.
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Diluted earnings per 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 securities h...
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Potentially dilutive securities include outstanding stock options, shares to be purchased under the Company’s employee stock purchase plan, unvested restricted stock and unvested restricted stock units (“RSUs”).
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The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method.
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