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0000320193 | 20151028 | 10-K | 152 | While some Mac computers are manufactured in the U.S. and Ireland, substantially all of the Company’s hardware products are currently manufactured by outsourcing partners that are located primarily in Asia. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 153 | A significant concentration of this manufacturing is currently performed by a small number of outsourcing partners, often in single locations. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 154 | Certain of these outsourcing partners are the sole-sourced suppliers of components and manufacturers for many of the Company’s products. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 155 | Although the Company works closely with its outsourcing partners on manufacturing schedules, the Company’s operating results could be adversely affected if its outsourcing partners were unable to meet their production commitments. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 156 | The Company’s purchase commitments typically cover its requirements for periods up to 150 days. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 157 | Research and Development
Because the industries in which the Company competes are characterized by rapid technological advances, the Company’s ability to compete successfully depends heavily upon its ability to ensure a continual and timely flow of competitive products, services and technologies to the marketplace. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 158 | The Company continues to develop new technologies to enhance existing products and to expand the range of its product offerings through R&D, licensing of intellectual property and acquisition of third-party businesses and technology. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 159 | Total R&D expense was $8.1 billion, $6.0 billion and $4.5 billion in 2015, 2014 and 2013, respectively. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 160 | Patents, Trademarks, Copyrights and Licenses
The Company currently holds rights to patents and copyrights relating to certain aspects of its hardware devices, accessories, software and services. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 161 | The Company has registered or has applied for trademarks and service marks in the U.S. and a number of foreign countries. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 162 | Although the Company believes the ownership of such patents, copyrights, trademarks and service marks is an important factor in its business and that its success does depend in part on such ownership, the Company relies primarily on the innovative skills, technical competence and marketing abilities of its personnel. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 163 | The Company regularly files patent applications to protect innovations arising from its research, development and design, and is currently pursuing thousands of patent applications around the world. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 164 | Over time, the Company has accumulated a large portfolio of issued patents around the world. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 165 | The Company holds copyrights relating to certain aspects of its products and services. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 166 | No single patent or copyright is solely responsible for protecting the Company’s products. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 167 | The Company believes the duration of its patents is adequate relative to the expected lives of its products. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 168 | Many of the Company’s products are designed to include intellectual property obtained from third parties. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 169 | It may be necessary in the future to seek or renew licenses relating to various aspects of its products, processes and services. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 170 | While the Company has generally been able to obtain such licenses on commercially reasonable terms in the past, there is no guarantee that such licenses could be obtained in the future on reasonable terms or at all. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 171 | Because of technological changes in the industries in which the Company competes, current extensive patent coverage and the rapid rate of issuance of new patents, it is possible that certain components of the Company’s products, processes and services may unknowingly infringe existing patents or intellectual property r... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 172 | From time to time, the Company has been notified that it may be infringing certain patents or other intellectual property rights of third parties. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 173 | Foreign and Domestic Operations and Geographic Data
During 2015, the Company’s domestic and international net sales accounted for 35% and 65%, respectively, of total net sales. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 174 | Information regarding financial data by geographic segment is set forth in Part II, Item 7 of this Form 10-K under the subheading “Segment Operating Performance,” and in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 11, “Segment Information and Geographic Data.”
Apple Inc. ... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 175 | The supply and manufacture of a number of components is performed by sole-sourced outsourcing partners in the U.S., Asia and Europe. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 176 | Margins on sales of the Company’s products in foreign countries and on sales of products that include components obtained from foreign suppliers, can be adversely affected by foreign currency exchange rate fluctuations and by international trade regulations, including tariffs and antidumping penalties. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 177 | Information regarding concentration in the available sources of supply of materials and products is set forth in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 10, “Commitments and Contingencies.”
Business Seasonality and Product Introductions
The Company has historically ex... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 178 | Additionally, new product introductions can significantly impact net sales, product costs and operating expenses. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 179 | Product introductions can also impact the Company’s net sales to its indirect distribution channels as these channels are filled with new product inventory following a product introduction, and often, channel inventory of a particular product declines as the next related major product launch approaches. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 180 | Net sales can also be affected when consumers and distributors anticipate a product introduction. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 181 | However, neither historical seasonal patterns nor historical patterns of product introductions should be considered reliable indicators of the Company’s future pattern of product introductions, future net sales or financial performance. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 182 | Warranty
The Company offers a limited parts and labor warranty on most of its hardware products. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 183 | The basic warranty period is typically one year from the date of purchase by the original end-user. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 184 | The Company also offers a 90-day basic warranty for its service parts used to repair the Company’s hardware products. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 185 | In certain jurisdictions, local law requires that manufacturers guarantee their products for a period prescribed by statute, typically at least two years. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 186 | In addition, where available, consumers may purchase APP or AC+, which extends service coverage on many of the Company’s hardware products. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 187 | Backlog
In the Company’s experience, the actual amount of product backlog at any particular time is not a meaningful indication of its future business prospects. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 188 | In particular, backlog often increases immediately following new product introductions as customers anticipate shortages. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 189 | Backlog is often reduced once customers believe they can obtain sufficient supply. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 190 | Because of the foregoing, backlog should not be considered a reliable indicator of the Company’s ability to achieve any particular level of revenue or financial performance. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 191 | Employees
As of September 26, 2015, the Company had approximately 110,000 full-time equivalent employees. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 192 | Available Information
The Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to reports filed pursuant to Sections 13(a) and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are filed with the Securities and Exchange Commission... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 193 | The Company is subject to the informational requirements of the Exchange Act and files or furnishes reports, proxy statements and other information with the SEC. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 194 | Such reports and other information filed by the Company with the SEC are available free of charge on the Company’s website at investor.apple.com/sec.cfm when such reports are available on the SEC’s website. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 195 | The public may read and copy any materials filed by the Company with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Room 1580, Washington, DC 20549. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 196 | The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 197 | The SEC maintains an internet site that contains reports, proxy and information statements and other information regarding issuers that file electronically with the SEC at www.sec.gov. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 198 | The contents of these websites are not incorporated into this filing. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 199 | Further, the Company’s references to website URLs are intended to be inactive textual references only. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 200 | Apple Inc. | 2015 Form 10-K | 7
Item 1A. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 201 | Risk Factors
The following discussion of risk factors contains forward-looking statements. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 202 | These risk factors may be important to understanding other statements in this Form 10-K. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 203 | The following information should be read in conjunction with Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and related notes in Part II, Item 8, “Financial Statements and Supplementary Data” of this Form 10-K. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 204 | The business, financial condition and operating results of the Company can be affected by a number of factors, whether currently known or unknown, including but not limited to those described below, any one or more of which could, directly or indirectly, cause the Company’s actual financial condition and operating resu... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 205 | Any of these factors, in whole or in part, could materially and adversely affect the Company’s business, financial condition, operating results and stock price. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 206 | Because of the following factors, as well as other factors affecting the Company’s financial condition and operating results, past financial performance should not be considered to be a reliable indicator of future performance, and investors should not use historical trends to anticipate results or trends in future per... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 207 | Global and regional economic conditions could materially adversely affect the Company. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 208 | The Company’s operations and performance depend significantly on global and regional economic conditions. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 209 | Uncertainty about global and regional economic conditions poses a risk as consumers and businesses may postpone spending in response to tighter credit, higher unemployment, financial market volatility, government austerity programs, negative financial news, declines in income or asset values and/or other factors. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 210 | These worldwide and regional economic conditions could have a material adverse effect on demand for the Company’s products and services. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 211 | Demand also could differ materially from the Company’s expectations as a result of currency fluctuations because the Company generally raises prices on goods and services sold outside the U.S. to correspond with the effect of a strengthening of the U.S. dollar. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 212 | Other factors that could influence worldwide or regional demand include changes in fuel and other energy costs, conditions in the real estate and mortgage markets, unemployment, labor and healthcare costs, access to credit, consumer confidence and other macroeconomic factors affecting consumer spending behavior. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 213 | These and other economic factors could materially adversely affect demand for the Company’s products and services. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 214 | In the event of financial turmoil affecting the banking system and financial markets, additional consolidation of the financial services industry, or significant financial service institution failures, there could be tightening in the credit markets, low liquidity and extreme volatility in fixed income, credit, currenc... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 215 | This could have a number of effects on the Company’s business, including the insolvency or financial instability of outsourcing partners or suppliers or their inability to obtain credit to finance development and/or manufacture products resulting in product delays; inability of customers, including channel partners, to... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 216 | Other income and expense also could vary materially from expectations depending on gains or losses realized on the sale or exchange of financial instruments; impairment charges resulting from revaluations of debt and equity securities and other investments; changes in interest rates; increases or decreases in cash bala... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 217 | Increased volatility in the financial markets and overall economic uncertainty would increase the risk of the actual amounts realized in the future on the Company’s financial instruments differing significantly from the fair values currently assigned to them. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 218 | Global markets for the Company’s products and services are highly competitive and subject to rapid technological change, and the Company may be unable to compete effectively in these markets. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 219 | The Company’s products and services compete in highly competitive global markets characterized by aggressive price cutting and resulting downward pressure on gross margins, frequent introduction of new products, short product life cycles, evolving industry standards, continual improvement in product price/performance c... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 220 | The Company’s ability to compete successfully depends heavily on its ability to ensure a continuing and timely introduction of innovative new products, services and technologies to the marketplace. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 221 | The Company believes it is unique in that it designs and develops nearly the entire solution for its products, including the hardware, operating system, numerous software applications and related services. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 222 | As a result, the Company must make significant investments in R&D. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 223 | The Company currently holds a significant number of patents and copyrights and has registered and/or has applied to register numerous patents, trademarks and service marks. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 224 | In contrast, many of the Company’s competitors seek to compete primarily through aggressive pricing and very low cost structures, and emulating the Company’s products and infringing on its intellectual property. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 225 | If the Company is unable to continue to develop and sell innovative new products with attractive margins or if competitors infringe on the Company’s intellectual property, the Company’s ability to maintain a competitive advantage could be adversely affected. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 226 | Apple Inc. | 2015 Form 10-K | 8
The Company markets certain mobile communication and media devices based on the iOS mobile operating system and also markets related third-party digital content and applications. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 227 | The Company faces substantial competition in these markets from companies that have significant technical, marketing, distribution and other resources, as well as established hardware, software and digital content supplier relationships; and the Company has a minority market share in the global smartphone market. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 228 | Additionally, the Company faces significant price competition as competitors reduce their selling prices and attempt to imitate the Company’s product features and applications within their own products or, alternatively, collaborate with each other to offer solutions that are more competitive than those they currently ... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 229 | The Company competes with business models that include content provided to users for free. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 230 | The Company also competes with illegitimate ways to obtain third-party digital content and applications. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 231 | Some of the Company’s competitors have greater experience, product breadth and distribution channels than the Company. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 232 | Because some current and potential competitors have substantial resources and/or experience and a lower cost structure, they may be able to provide products and services at little or no profit or even at a loss. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 233 | The Company also expects competition to intensify as competitors attempt to imitate the Company’s approach to providing components seamlessly within their individual offerings or work collaboratively to offer integrated solutions. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 234 | The Company’s financial condition and operating results depend substantially on the Company’s ability to continually improve iOS and iOS devices in order to maintain their functional and design advantages. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 235 | The Company is the only authorized maker of hardware using OS X, which has a minority market share in the personal computer market. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 236 | This market has been contracting and is dominated by computer makers using competing operating systems, most notably Windows. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 237 | In the market for personal computers and accessories, the Company faces a significant number of competitors, many of which have broader product lines, lower priced products and a larger installed customer base. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 238 | Historically, consolidation in this market has resulted in larger competitors. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 239 | Price competition has been particularly intense as competitors selling Windows-based personal computers have aggressively cut prices and lowered product margins. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 240 | An increasing number of internet-enabled devices that include software applications and are smaller and simpler than traditional personal computers compete for market share with the Company’s existing products. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 241 | The Company’s financial condition and operating results also depend on its ability to continually improve the Mac platform to maintain its functional and design advantages. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 242 | There can be no assurance the Company will be able to continue to provide products and services that compete effectively. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 243 | To remain competitive and stimulate customer demand, the Company must successfully manage frequent product introductions and transitions. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 244 | Due to the highly volatile and competitive nature of the industries in which the Company competes, the Company must continually introduce new products, services and technologies, enhance existing products and services, effectively stimulate customer demand for new and upgraded products and successfully manage the trans... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 245 | The success of new product introductions depends on a number of factors including, but not limited to, timely and successful product development, market acceptance, the Company’s ability to manage the risks associated with new product production ramp-up issues, the availability of application software for new products,... | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 246 | Accordingly, the Company cannot determine in advance the ultimate effect of new product introductions and transitions. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 247 | The Company depends on the performance of distributors, carriers and other resellers. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 248 | The Company distributes its products through cellular network carriers, wholesalers, national and regional retailers and value-added resellers, many of whom distribute products from competing manufacturers. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 249 | The Company also sells its products and third-party products in most of its major markets directly to education, enterprise and government customers and consumers and small and mid-sized businesses through its online and retail stores. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 250 | Carriers providing cellular network service for iPhone typically subsidize users’ purchases of the device. | 0001193125-15-356351/full-submission.txt |
0000320193 | 20151028 | 10-K | 251 | There is no assurance that such subsidies will be continued at all or in the same amounts upon renewal of the Company’s agreements with these carriers or in agreements the Company enters into with new carriers. | 0001193125-15-356351/full-submission.txt |
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