cik stringclasses 1
value | date stringlengths 8 8 | form stringclasses 4
values | sentenceCount int64 0 2.33k | sentence stringlengths 2 5.25k | filename stringlengths 40 40 |
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0000320193 | 20071115 | 10-K | 1,636 | Because the Company's Retail initiative was an unproven concept at inception, management chose to measure the Retail segment's performance in a manner that would allow comparability to the Company's major channel partners operating retail stores in the U.S. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,637 | There were three significant differences in the measurement of the Retail segment's results relative to the Company's other operating segments. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,638 | First, the Retail segment's operating income reflected cost of sales for Apple products at amounts normally charged to Apple's major U.S. channel partners for the same products, less the cost of the Company's sales programs and other costs to support those partners. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,639 | Second, the cost of sales of the Company's service and support contracts, including the AppleCare Protection Plan ("APP") and .Mac, were reflected in the Retail segment's results at the costs charged to major channel partners for such contracts, and all associated revenue was reflected in the Retail segment's results a... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,640 | Because the Company had not yet earned the revenue or incurred the cost associated with the sale of such contracts, an offset to these amounts was recognized in other segments' net sales and cost of sales. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,641 | Third, the Company allocated certain expenses related to the operation of its high-profile stores to corporate marketing expense. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,642 | Having operated the Company's Retail stores successfully for more than six years, management believes its Retail initiative is a proven concept that will continue to be an integral element of the Company's distribution and marketing strategies. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,643 | Additionally, the Company expects sales of iPhone by the Company's geographic and Retail operating segments to generate significant levels of deferred revenue and deferred cost of sales over time. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,644 | In consideration of these factors, management has determined that beginning with the quarter ended June 30, 2007, aligning measurements for the performance of the Retail segment with those used for the Company's other operating segments provides the most meaningful information. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,645 | Accordingly, management has begun to measure the Retail segment's operating performance in a manner
generally consistent with the Company's other operating segments. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,646 | The cost of sales of the Company's products sold through the Retail segment is now reflected at amounts similar to the cost of sales of the same products reflected in the Company's other operating segments. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,647 | Revenue from APP and .Mac contracts sold through the Retail segment is now being recognized over the lives of the respective service agreements. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,648 | Additionally, the Retail segment is applying the same subscription accounting to iPhone net sales and cost of sales that the Company's other operating segments apply. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,649 | Management believes aligning measurements for the performance of the Retail segment with those used for the Company's other operating segments will provide greater comparability with the rest of the Company's segments and allow for more meaningful assessment of the Retail segment's operating results. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,650 | The Company has reclassified prior period operating segment results to reflect these changes in the measurement of the operating results for the Retail segment, along with the corresponding offsetting impact to the Company's other operating segments. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,651 | The Company will continue to allocate certain operating expenses associated with its high-profile stores to corporate marketing expense to reflect the estimated Company-wide benefit. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,652 | These high-profile stores are larger than the Company's typical retail stores and were designed to further promote brand awareness and provide a venue for certain corporate sales and marketing activities, including corporate briefings. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,653 | The allocation of these operating costs to corporate expense is based on the amount incurred for a high-profile store in excess of that incurred by a more typical Company retail location. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,654 | The Company had opened a total of eight high-profile stores as of September 29, 2007. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,655 | Expenses allocated to corporate marketing resulting from the operations of high-profile stores were $39 million, $33 million, and $31 million for the years ended September 29, 2007, September 30, 2006, and September 24, 2005 respectively. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,656 | Summary information by operating segment follows (in millions):
(a)The Americas asset figures do not include fixed assets held in the U.S. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,657 | Such fixed assets are not allocated specifically to the Americas segment and are included in the corporate assets figures below. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,658 | (b)Retail segment depreciation and asset figures reflect the cost and related depreciation of its retail stores and related infrastructure. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,659 | Retail store construction-in-progress, which is not subject to depreciation, is reflected in corporate assets. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,660 | (c)Other Segments include Asia-Pacific and FileMaker. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,661 | A reconciliation of the Company's segment operating income and assets to the consolidated financial statements follows (in millions):
(a)Corporate expenses include research and development, corporate marketing expenses, manufacturing costs and variances not included in standard costs, and other separately managed gener... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,662 | No single customer or single country outside of the U.S. accounted for more than 10% of net sales in 2007, 2006, or 2005. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,663 | Net sales and long-lived assets related to the U.S. and international operations are as follows (in millions):
Information regarding net sales by product is as follows (in millions):
(a)Includes iMac, eMac, Mac mini, Power Mac, Mac Pro, and Xserve product lines. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,664 | (b)Includes MacBook, iBook, MacBook Pro, and PowerBook product lines. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,665 | (c)Consists of iTunes Store sales and iPod services, and Apple-branded and third-party iPod accessories. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,666 | (d)Derived from handset sales, carrier agreements, and Apple-branded and third-party iPhone accessories. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,667 | (e)Includes sales of Apple-branded and third-party displays, wireless connectivity and networking solutions, and other hardware accessories. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,668 | (f)Includes sales of Apple-branded operating system and application software, third-party software, AppleCare, and Internet services. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,669 | Note 10-Related Party Transactions and Certain Other Transactions
The Company entered into a Reimbursement Agreement with its CEO, Steve Jobs, for the reimbursement of expenses incurred by Mr. Jobs in the operation of his private plane when used for Apple business. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,670 | The Company recognized a total of approximately $776,000, $202,000, and $1,100,000 in expenses pursuant to the Reimbursement Agreement during 2007, 2006, and 2005, respectively. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,671 | In 2006, the Company entered into an agreement with Pixar to sell certain of Pixar's short films on the iTunes Store. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,672 | Mr. Jobs was the CEO, Chairman, and a large shareholder of Pixar. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,673 | On May 5, 2006, The Walt Disney Company ("Disney") acquired Pixar, which resulted in Pixar becoming a wholly-owned subsidiary of Disney. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,674 | Upon Disney's acquisition of Pixar, Mr. Jobs' shares of Pixar common stock were exchanged for Disney's common stock and he was elected to the Disney Board of Directors. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,675 | Royalty expense recognized by the Company under the arrangement with Pixar from September 25, 2005 through May 5, 2006 was less than $1 million. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,676 | Note 11-Selected Quarterly Financial Information (Unaudited)
The following tables set forth a summary of the Company's quarterly financial information for each of the four quarters ended September 29, 2007 and September 30, 2006 (in millions, except share and per share amounts):
Basic and diluted earnings per share are... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,677 | Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,678 | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Apple Inc.:
We have audited the accompanying consolidated balance sheets of Apple Inc. and subsidiaries (the Company) as of September 29, 2007 and September 30, 2006, and the related consolidated statements of operations, sh... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,679 | These consolidated financial statements are the responsibility of the Company's management. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,680 | Our responsibility is to express an opinion on these consolidated financial statements based on our audits. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,681 | We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,682 | Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,683 | An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,684 | An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,685 | We believe that our audits provide a reasonable basis for our opinion. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,686 | In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Apple Inc. and subsidiaries as of September 29, 2007 and September 30, 2006, and the results of their operations and their cash flows for each of the years in the three-year period... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,687 | As discussed in Note 1 to the Consolidated Financial Statements, effective September 25, 2005, the Company adopted the provisions of Statement of Financial Accounting Standards No. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,688 | 123R, Share-Based Payment. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,689 | We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Apple Inc.'s internal control over financial reporting as of September 29, 2007, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizat... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,690 | /s/ KPMG LLP
Mountain View, California
November 15, 2007
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Apple Inc.:
We have audited Apple Inc.'s internal control over financial reporting as of September 29, 2007, based on criteria established in Internal Control-Integrat... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,691 | Apple's management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management's Annual Report on Internal Control over Financial Reporting. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,692 | Our responsibility is to express an opinion on the Company's internal control over financial reporting based on our audit. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,693 | We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,694 | Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,695 | Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,696 | Our audit also included performing such other procedures as we considered necessary in the circumstances. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,697 | We believe that our audit provides a reasonable basis for our opinion. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,698 | A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,699 | A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are rec... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,700 | Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,701 | Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,702 | In our opinion, Apple Inc. maintained, in all material respects, effective internal control over financial reporting as of September 29, 2007, based on criteria established in Internal Control-Integrated Framework issued by COSO. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,703 | We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Apple Inc. as of September 29, 2007 and September 30, 2006, and the related consolidated statements of operations, shareholders' equity, and cash flows for each of ... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,704 | /s/ KPMG LLP
Mountain View, California
November 15, 2007
Item 9. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,705 | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Not applicable. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,706 | Item 9A. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,707 | 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 ... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,708 | Inherent Limitations Over Internal Controls
The Company's internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,709 | The Company's internal control over financial reporting includes those policies and procedures that:
(i)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the Company's assets;
(ii)provide reasonable assurance that transactions are record... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,710 | Management, including the Company's Chief Executive Officer and Chief Financial Officer, does not expect that the Company's internal controls will prevent or detect all errors and all fraud. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,711 | A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,712 | Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,713 | Because of the inherent limitations in all control systems, no evaluation of internal controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,714 | Also, any evaluation of the effectiveness of controls in future periods are subject to the risk that those internal controls may become inadequate because of changes in business conditions, or that the degree of compliance with the policies or procedures may deteriorate. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,715 | Management's Annual Report on Internal Control Over Financial Reporting
The Company's management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended). | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,716 | Management conducted an evaluation of the effectiveness of the Company's internal control over financial reporting based on the criteria set forth in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO"). | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,717 | Based on this evaluation, management has concluded that the Company's internal control over financial reporting was effective as of September 29, 2007. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,718 | The Company's independent registered public accounting firm, KPMG
LLP, has issued an attestation report on the Company's internal control over financial reporting. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,719 | The report on the audit of internal control over financial reporting appears on page 92 of this Form 10-K.
Changes in Internal Control Over Financial Reporting
There were no changes in the Company's internal control over financial reporting during the fourth quarter of fiscal 2007, which were identified in connection w... | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,720 | Item 9B. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,721 | Other Information
On November 13, 2007, the Board of Directors of the Company amended and restated the Company's Amended Bylaws to permit the issuance of uncertificated shares of stock and to make related conforming and mechanical changes. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,722 | The foregoing description of the amendments to the Company's Amended and Restated Bylaws is qualified in its entirety by the text of the Amended and Restated Bylaws, which is attached hereto as Exhibit 3.5 and is incorporated herein by reference. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,723 | PART III
Item 10. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,724 | Directors, Executive Officers and Corporate Governance
Directors
Listed below are the Company's seven directors whose terms expire at the next annual meeting of shareholders. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,725 | William V. Campbell has been Chairman of the Board of Directors of Intuit, Inc. ("Intuit") since August 1998. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,726 | From September 1999 to January 2000, Mr. Campbell acted as Chief Executive Officer of Intuit. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,727 | From January 1994 to August 1998, Mr. Campbell was President and Chief Executive Officer and a director of Intuit. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,728 | From January 1991 to December 1993, Mr. Campbell was President and Chief Executive Officer of GO Corporation. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,729 | Millard S. Drexler has been Chairman and Chief Executive Officer of J. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,730 | Crew Group, Inc. since January 2003. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,731 | Previously, Mr. Drexler was Chief Executive Officer of Gap Inc. ("Gap") from 1995 and President from 1987 until 1995. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,732 | Mr. Drexler was also a member of the Board of Directors of Gap from November 1983 until October 2002. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,733 | Albert A. Gore, Jr. has served as a Senior Advisor to Google, Inc. ("Google") since 2001. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,734 | He has also served as Executive Chairman of Current TV since 2002 and as Chairman of Generation Investment Management since 2004. | 0001047469-07-009340/full-submission.txt |
0000320193 | 20071115 | 10-K | 1,735 | He is a visiting professor at Middle Tennessee State University. | 0001047469-07-009340/full-submission.txt |
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