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0000320193 | 20161026 | 10-K | 238 | 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. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 239 | There can be no assurance the Company will be able to continue to provide products and services that compete effectively. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 240 | To remain competitive and stimulate customer demand, the Company must successfully manage frequent product introductions and transitions. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 241 | 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... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 242 | 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,... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 243 | Accordingly, the Company cannot determine in advance the ultimate effect of new product introductions and transitions. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 244 | The Company depends on the performance of distributors, carriers and other resellers. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 245 | 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. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 246 | 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. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 247 | Some carriers providing cellular network service for iPhone subsidize users’ purchases of the device. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 248 | 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. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 249 | Many resellers have been adversely affected in the past by weak economic conditions. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 250 | The Company has invested and will continue to invest in programs to enhance reseller sales, including staffing selected resellers’ stores with Company employees and contractors, and improving product placement displays. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 251 | These programs could require a substantial investment while providing no assurance of return or incremental revenue. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 252 | The financial condition of these resellers could weaken, these resellers could stop distributing the Company’s products, or uncertainty regarding demand for some or all of the Company’s products could cause resellers to reduce their ordering and marketing of the Company’s products. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 253 | Apple Inc. | 2016 Form 10-K | 9
The Company faces substantial inventory and other asset risk in addition to purchase commitment cancellation risk. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 254 | The Company records a write-down for product and component inventories that have become obsolete or exceed anticipated demand or net realizable value and accrues necessary cancellation fee reserves for orders of excess products and components. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 255 | The Company also reviews its long-lived assets, including capital assets held at its suppliers’ facilities and inventory prepayments, for impairment whenever events or circumstances indicate the carrying amount of an asset may not be recoverable. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 256 | If the Company determines that impairment has occurred, it records a write-down equal to the amount by which the carrying value of the assets exceeds its fair value. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 257 | Although the Company believes its provisions related to inventory, capital assets, inventory prepayments and other assets and purchase commitments are currently adequate, no assurance can be given that the Company will not incur additional related charges given the rapid and unpredictable pace of product obsolescence i... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 258 | The Company must order components for its products and build inventory in advance of product announcements and shipments. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 259 | Consistent with industry practice, components are normally acquired through a combination of purchase orders, supplier contracts and open orders, in each case based on projected demand. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 260 | Manufacturing purchase obligations typically cover forecasted component and manufacturing requirements for periods up to 150 days. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 261 | Because the Company’s markets are volatile, competitive and subject to rapid technology and price changes, there is a risk the Company will forecast incorrectly and order or produce excess or insufficient amounts of components or products, or not fully utilize firm purchase commitments. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 262 | Future operating results depend upon the Company’s ability to obtain components in sufficient quantities on commercially reasonable terms. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 263 | Because the Company currently obtains components from single or limited sources, the Company is subject to significant supply and pricing risks. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 264 | Many components, including those that are available from multiple sources, are at times subject to industry-wide shortages and significant commodity pricing fluctuations. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 265 | While the Company has entered into agreements for the supply of many components, there can be no assurance that the Company will be able to extend or renew these agreements on similar terms, or at all. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 266 | A number of suppliers of components may suffer from poor financial conditions, which can lead to business failure for the supplier or consolidation within a particular industry, further limiting the Company’s ability to obtain sufficient quantities of components on commercially reasonable terms. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 267 | The effects of global or regional economic conditions on the Company’s suppliers, described in “Global and regional economic conditions could materially adversely affect the Company” above, also could affect the Company’s ability to obtain components. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 268 | Therefore, the Company remains subject to significant risks of supply shortages and price increases. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 269 | The Company’s new products often utilize custom components available from only one source. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 270 | When a component or product uses new technologies, initial capacity constraints may exist until the suppliers’ yields have matured or manufacturing capacity has increased. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 271 | Continued availability of these components at acceptable prices, or at all, may be affected for any number of reasons, including if those suppliers decide to concentrate on the production of common components instead of components customized to meet the Company’s requirements. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 272 | The supply of components for a new or existing product could be delayed or constrained, or a key manufacturing vendor could delay shipments of completed products to the Company. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 273 | The Company depends on component and product manufacturing and logistical services provided by outsourcing partners, many of which are located outside of the U.S. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 274 | Substantially all of the Company’s manufacturing is performed in whole or in part by a few outsourcing partners located primarily in Asia. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 275 | The Company has also outsourced much of its transportation and logistics management. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 276 | While these arrangements may lower operating costs, they also reduce the Company’s direct control over production and distribution. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 277 | It is uncertain what effect such diminished control will have on the quality or quantity of products or services, or the Company’s flexibility to respond to changing conditions. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 278 | Although arrangements with these partners may contain provisions for warranty expense reimbursement, the Company may remain responsible to the consumer for warranty service in the event of product defects and could experience an unanticipated product defect or warranty liability. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 279 | While the Company relies on its partners to adhere to its supplier code of conduct, material violations of the supplier code of conduct could occur. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 280 | The Company relies on sole-sourced outsourcing partners in the U.S., Asia and Europe to supply and manufacture many critical components, and on outsourcing partners primarily located in Asia, for final assembly of substantially all of the Company’s hardware products. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 281 | Any failure of these partners to perform may have a negative impact on the Company’s cost or supply of components or finished goods. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 282 | In addition, manufacturing or logistics in these locations or transit to final destinations may be disrupted for a variety of reasons including, but not limited to, natural and man-made disasters, information technology system failures, commercial disputes, military actions or economic, business, labor, environmental, ... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 283 | The Company has invested in manufacturing process equipment, much of which is held at certain of its outsourcing partners, and has made prepayments to certain of its suppliers associated with long-term supply agreements. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 284 | While these arrangements help ensure the supply of components and finished goods, if these outsourcing partners or suppliers experience severe financial problems or other disruptions in their business, such continued supply could be reduced or terminated and the net realizable value of these assets could be negatively ... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 285 | Apple Inc. | 2016 Form 10-K | 10
The Company’s products and services may experience quality problems from time to time that can result in decreased sales and operating margin and harm to the Company’s reputation. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 286 | The Company sells complex hardware and software products and services that can contain design and manufacturing defects. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 287 | Sophisticated operating system software and applications, such as those sold by the Company, often contain “bugs” that can unexpectedly interfere with the software’s intended operation. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 288 | The Company’s online services may from time to time experience outages, service slowdowns, or errors. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 289 | Defects may also occur in components and products the Company purchases from third parties. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 290 | There can be no assurance the Company will be able to detect and fix all defects in the hardware, software and services it sells. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 291 | Failure to do so could result in lost revenue, significant warranty and other expenses and harm to the Company’s reputation. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 292 | The Company relies on access to third-party digital content, which may not be available to the Company on commercially reasonable terms or at all. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 293 | The Company contracts with numerous third parties to offer their digital content to customers. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 294 | This includes the right to sell currently available music, movies, TV shows and books. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 295 | The licensing or other distribution arrangements with these third parties are for relatively short terms and do not guarantee the continuation or renewal of these arrangements on reasonable terms, if at all. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 296 | Some third-party content providers and distributors currently or in the future may offer competing products and services, and could take action to make it more difficult or impossible for the Company to license or otherwise distribute their content in the future. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 297 | Other content owners, providers or distributors may seek to limit the Company’s access to, or increase the cost of, such content. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 298 | The Company may be unable to continue to offer a wide variety of content at reasonable prices with acceptable usage rules, or continue to expand its geographic reach. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 299 | Failure to obtain the right to make available third-party digital content, or to make available such content on commercially reasonable terms, could have a material adverse impact on the Company’s financial condition and operating results. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 300 | Some third-party digital content providers require the Company to provide digital rights management and other security solutions. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 301 | If requirements change, the Company may have to develop or license new technology to provide these solutions. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 302 | There is no assurance the Company will be able to develop or license such solutions at a reasonable cost and in a timely manner. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 303 | In addition, certain countries have passed or may propose and adopt legislation that would force the Company to license its digital rights management, which could lessen the protection of content and subject it to piracy and also could negatively affect arrangements with the Company’s content providers. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 304 | The Company’s future performance depends in part on support from third-party software developers. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 305 | The Company believes decisions by customers to purchase its hardware products depend in part on the availability of third-party software applications and services. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 306 | There is no assurance that third-party developers will continue to develop and maintain software applications and services for the Company’s products. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 307 | If third-party software applications and services cease to be developed and maintained for the Company’s products, customers may choose not to buy the Company’s products. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 308 | With respect to its Mac products, the Company believes the availability of third-party software applications and services depends in part on the developers’ perception and analysis of the relative benefits of developing, maintaining and upgrading such software for the Company’s products compared to Windows-based produc... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 309 | This analysis may be based on factors such as the market position of the Company and its products, the anticipated revenue that may be generated, expected future growth of Mac sales and the costs of developing such applications and services. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 310 | If the Company’s minority share of the global personal computer market causes developers to question the Mac’s prospects, developers could be less inclined to develop or upgrade software for the Company’s Mac products and more inclined to devote their resources to developing and upgrading software for the larger Window... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 311 | With respect to iOS devices, the Company relies on the continued availability and development of compelling and innovative software applications, which are distributed through a single distribution channel, the App Store. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 312 | iOS devices are subject to rapid technological change, and, if third-party developers are unable to or choose not to keep up with this pace of change, third-party applications might not successfully operate and may result in dissatisfied customers. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 313 | As with applications for the Company’s Mac products, the availability and development of these applications also depend on developers’ perceptions and analysis of the relative benefits of developing, maintaining or upgrading software for the Company’s iOS devices rather than its competitors’ platforms, such as Android. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 314 | If developers focus their efforts on these competing platforms, the availability and quality of applications for the Company’s iOS devices may suffer. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 315 | Apple Inc. | 2016 Form 10-K | 11
The Company relies on access to third-party intellectual property, which may not be available to the Company on commercially reasonable terms or at all. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 316 | Many of the Company’s products include third-party intellectual property, which requires licenses from those third parties. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 317 | Based on past experience and industry practice, the Company believes such licenses generally can be obtained on reasonable terms. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 318 | There is, however, no assurance that the necessary licenses can be obtained on acceptable terms or at all. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 319 | Failure to obtain the right to use third-party intellectual property, or to use such intellectual property on commercially reasonable terms, could preclude the Company from selling certain products or otherwise have a material adverse impact on the Company’s financial condition and operating results. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 320 | The Company could be impacted by unfavorable results of legal proceedings, such as being found to have infringed on intellectual property rights. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 321 | The Company is subject to various legal proceedings and claims that have not yet been fully resolved and that have arisen in the ordinary course of business, and additional claims may arise in the future. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 322 | For example, technology companies, including many of the Company’s competitors, frequently enter into litigation based on allegations of patent infringement or other violations of intellectual property rights. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 323 | In addition, patent holding companies seek to monetize patents they have purchased or otherwise obtained. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 324 | The intellectual property rights claims against the Company have generally increased over time and may continue to increase. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 325 | In particular, the Company's cellular enabled products compete with products from mobile communication and media device companies that hold significant patent portfolios, and the Company has faced a significant number of patent claims against it. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 326 | The Company is vigorously defending infringement actions in courts in a number of U.S. jurisdictions and before the U.S. International Trade Commission, as well as internationally in various countries. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 327 | The plaintiffs in these actions frequently seek injunctions and substantial damages. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 328 | Regardless of the scope or validity of such patents or other intellectual property rights, or the merits of any claims by potential or actual litigants, the Company may have to engage in protracted litigation. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 329 | If the Company is found to infringe one or more patents or other intellectual property rights, regardless of whether it can develop non-infringing technology, it may be required to pay substantial damages or royalties to a third-party, or it may be subject to a temporary or permanent injunction prohibiting the Company ... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 330 | In certain cases, the Company may consider the desirability of entering into licensing agreements, although no assurance can be given that such licenses can be obtained on acceptable terms or that litigation will not occur. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 331 | These licenses may also significantly increase the Company’s operating expenses. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 332 | Regardless of the merit of particular claims, litigation may be expensive, time-consuming, disruptive to the Company’s operations and distracting to management. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 333 | In recognition of these considerations, the Company may enter into arrangements to settle litigation. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 334 | In management’s opinion, there is not at least a reasonable possibility the Company may have incurred a material loss, or a material loss in excess of a recorded accrual, with respect to loss contingencies, including matters related to infringement of intellectual property rights. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 335 | However, the outcome of litigation is inherently uncertain. | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 336 | Although management considers the likelihood of such an outcome to be remote, if one or more legal matters were resolved against the Company in a reporting period for amounts in excess of management’s expectations, the Company’s consolidated financial statements for that reporting period could be materially adversely a... | 0001628280-16-020309/full-submission.txt |
0000320193 | 20161026 | 10-K | 337 | Further, such an outcome could result in significant compensatory, punitive or trebled monetary damages, disgorgement of revenue or profits, remedial corporate measures or injunctive relief against the Company that could materially adversely affect its financial condition and operating results. | 0001628280-16-020309/full-submission.txt |
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