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0000320193
20211029
10-K
841
Operating income for each segment excludes other income and expense and certain expenses managed outside the reportable segments.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
842
Costs excluded from segment operating income include various corporate expenses such as research and development, corporate marketing expenses, certain share-based compensation expenses, income taxes, various nonrecurring charges and other separately managed general and administrative costs.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
843
The Company does not include intercompany transfers between segments for management reporting purposes.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
844
The following table shows information by reportable segment for 2021, 2020 and 2019 (in millions): A reconciliation of the Company’s segment operating income to the Consolidated Statements of Operations for 2021, 2020 and 2019 is as follows (in millions): Apple Inc. | 2021 Form 10-K | 50 The U.S. and China were the onl...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
845
There was no single customer that accounted for more than 10% of net sales in 2021, 2020 and 2019.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
846
Net sales for 2021, 2020 and 2019 and long-lived assets as of September 25, 2021 and September 26, 2020 were as follows (in millions): (1)China includes Hong Kong and Taiwan.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
847
Long-lived assets located in China consist primarily of product tooling and manufacturing process equipment and assets related to retail stores and related infrastructure.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
848
Apple Inc. | 2021 Form 10-K | 51 Report of Independent Registered Public Accounting Firm To the Shareholders and the Board of Directors of Apple Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Apple Inc. as of September 25, 2021 and September 26, 2020, the relate...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
849
In our opinion, the financial statements present fairly, in all material respects, the financial position of Apple Inc. at September 25, 2021 and September 26, 2020, and the results of its operations and its cash flows for each of the three years in the period ended September 25, 2021, in conformity with U.S. generally...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
850
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the “PCAOB”), Apple Inc.’s internal control over financial reporting as of September 25, 2021, based on criteria established in Internal Control - Integrated Framework issued by the Committee of Spon...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
851
Basis for Opinion These financial statements are the responsibility of Apple Inc.’s management.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
852
Our responsibility is to express an opinion on Apple Inc.’s financial statements based on our audits.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
853
We are a public accounting firm registered with the PCAOB and are required to be independent with respect to Apple Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission and the PCAOB.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
854
We conducted our audits in accordance with the standards of the PCAOB.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
855
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
856
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
857
Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
858
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
859
We believe that our audits provide a reasonable basis for our opinion.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
860
Critical Audit Matter The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the financial statements and ...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
861
The communication of the critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the account or disclosure to which it relates.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
862
Uncertain Tax Positions Description of the Matter As discussed in Note 5 to the financial statements, Apple Inc. is subject to taxation and files income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
863
As of September 25, 2021, the total amount of gross unrecognized tax benefits was $15.5 billion, of which $6.6 billion, if recognized, would impact Apple Inc.’s effective tax rate.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
864
Apple Inc. uses significant judgment in the calculation of tax liabilities in estimating the impact of uncertainties in the application of technical merits and complex tax laws.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
865
Auditing management’s evaluation of whether an uncertain tax position is more likely than not to be sustained and the measurement of the benefit of various tax positions can be complex, involves significant judgment, and is based on interpretations of tax laws and legal rulings.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
866
Apple Inc. | 2021 Form 10-K | 52 How We Addressed the Matter in Our Audit We tested controls relating to the evaluation of uncertain tax positions, including controls over management’s assessment as to whether tax positions are more likely than not to be sustained, management’s process to measure the benefit of its tax...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
867
To evaluate Apple Inc.’s assessment of which tax positions are more likely than not to be sustained, our audit procedures included, among others, reading and evaluating management’s assumptions and analysis, and, as applicable, Apple Inc.’s communications with taxing authorities, that detailed the basis and technical m...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
868
We involved our tax subject matter resources in assessing the technical merits of certain of Apple Inc.’s tax positions based on our knowledge of relevant tax laws and experience with related taxing authorities.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
869
For certain tax positions, we also received external legal counsel confirmation letters and discussed the matters with external advisors and Apple Inc. tax personnel.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
870
In addition, we evaluated Apple Inc.’s disclosure in relation to these matters included in Note 5 to the financial statements.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
871
/s/ Ernst & Young LLP We have served as Apple Inc.’s auditor since 2009.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
872
San Jose, California October 28, 2021 Apple Inc. | 2021 Form 10-K | 53 Report of Independent Registered Public Accounting Firm To the Shareholders and the Board of Directors of Apple Inc. Opinion on Internal Control Over Financial Reporting We have audited Apple Inc.’s internal control over financial reporting as of Se...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
873
In our opinion, Apple Inc. maintained, in all material respects, effective internal control over financial reporting as of September 25, 2021, based on the COSO criteria.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
874
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the “PCAOB”), the consolidated balance sheets of Apple Inc. as of September 25, 2021 and September 26, 2020, the related consolidated statements of operations, comprehensive income, shareholders’ equ...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
875
Basis for Opinion Apple Inc.’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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
876
Our responsibility is to express an opinion on Apple Inc.’s internal control over financial reporting based on our audit.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
877
We are a public accounting firm registered with the PCAOB and are required to be independent with respect to Apple Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission and the PCAOB.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
878
We conducted our audit in accordance with the standards of the PCAOB.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
879
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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
880
Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
881
We believe that our audit provides a reasonable basis for our opinion.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
882
Definition and Limitations of Internal Control Over Financial Reporting 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 U.S. g...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
883
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...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
884
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
885
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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
886
/s/ Ernst & Young LLP San Jose, California October 28, 2021 Apple Inc. | 2021 Form 10-K | 54 Item 9.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
887
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure None.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
888
Item 9A.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
889
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 ...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
890
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 U.S. generally accepted accounting princip...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
891
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...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
892
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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
893
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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
894
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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
895
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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
896
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.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
897
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 Exchange Act).
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
898
Management conducted an assessment 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 (2013 framework).
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
899
Based on the Company’s assessment, management has concluded that its internal control over financial reporting was effective as of September 25, 2021 to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with GAAP.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
900
The Company’s independent registered public accounting firm, Ernst & Young LLP, has issued an audit report on the Company’s internal control over financial reporting, which appears in Part II, Item 8 of this Form 10-K. Changes in Internal Control over Financial Reporting There were no changes in the Company’s internal ...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
901
Apple Inc. | 2021 Form 10-K | 55 Item 9B.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
902
Other Information Disclosure Pursuant to Section 13(r) of the Exchange Act Under Section 13(r) of the Exchange Act, the Company is required to disclose in its periodic reports if it or any of its affiliates knowingly conducted a transaction or dealing with entities or individuals designated pursuant to certain Executiv...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
903
On March 2, 2021, the U.S. Secretary of State designated the Russian Federal Security Service (the “FSB”) as a blocked party under Executive Order 13382.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
904
On the same day, the U.S. Department of the Treasury’s Office of Foreign Assets Control updated General License No.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
905
1B to authorize transactions and activities with the FSB that are necessary and ordinarily incident to requesting, receiving, utilizing, paying for, or dealing in certain licenses, permits, certifications or notifications issued or registered by the FSB for the importation, distribution or use of certain information te...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
906
As previously disclosed in the Company’s Quarterly Report on Form 10-Q for the three-month period ended June 26, 2021, during such period, the Company filed legally required administrative notifications with the FSB in connection with the importation of the Company’s products into the Russian Federation, as permitted b...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
907
1B.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
908
The Company did not make any payments, nor did it receive gross revenues or net profits, in connection with such engagement.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
909
The Company may in the future engage with the FSB for activities necessary to conduct business in the Russian Federation, in accordance with applicable U.S. laws and regulations.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
910
Item 9C.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
911
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not applicable.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
912
PART III Item 10.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
913
Directors, Executive Officers and Corporate Governance The information required by this Item is included in the Company’s 2022 Proxy Statement to be filed with the SEC within 120 days after September 25, 2021 in connection with the solicitation of proxies for the Company’s 2022 annual meeting of shareholders, and is in...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
914
Item 11.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
915
Executive Compensation The information required by this Item is included in the Company’s 2022 Proxy Statement to be filed with the SEC within 120 days after September 25, 2021, and is incorporated herein by reference.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
916
Item 12.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
917
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters The information required by this Item is included in the Company’s 2022 Proxy Statement to be filed with the SEC within 120 days after September 25, 2021, and is incorporated herein by reference.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
918
Item 13.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
919
Certain Relationships and Related Transactions, and Director Independence The information required by this Item is included in the Company’s 2022 Proxy Statement to be filed with the SEC within 120 days after September 25, 2021, and is incorporated herein by reference.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
920
Item 14.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
921
Principal Accountant Fees and Services The information required by this Item is included in the Company’s 2022 Proxy Statement to be filed with the SEC within 120 days after September 25, 2021, and is incorporated herein by reference.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
922
Apple Inc. | 2021 Form 10-K | 56 PART IV Item 15.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
923
Exhibit and Financial Statement Schedules (a)Documents filed as part of this report (1)All financial statements (2)Financial Statement Schedules All financial statement schedules have been omitted, since the required information is not applicable or is not present in amounts sufficient to require submission of the sche...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
924
8-K 3.1 8/7/20 3.2 Amended and Restated Bylaws of the Registrant effective as of December 13, 2016.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
925
8-K 3.2 12/15/16 4.1** Description of Securities of the Registrant.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
926
4.2 Indenture, dated as of April 29, 2013, between the Registrant and The Bank of New York Mellon Trust Company, N.A., as Trustee.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
927
S-3 4.1 4/29/13 4.3 Officer’s Certificate of the Registrant, dated as of May 3, 2013, including forms of global notes representing the Floating Rate Notes due 2016, Floating Rate Notes due 2018, 0.45% Notes due 2016, 1.00% Notes due 2018, 2.40% Notes due 2023 and 3.85% Notes due 2043.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
928
8-K 4.1 5/3/13 4.4 Officer’s Certificate of the Registrant, dated as of May 6, 2014, including forms of global notes representing the Floating Rate Notes due 2017, Floating Rate Notes due 2019, 1.05% Notes due 2017, 2.10% Notes due 2019, 2.85% Notes due 2021, 3.45% Notes due 2024 and 4.45% Notes due 2044.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
929
8-K 4.1 5/6/14 4.5 Officer’s Certificate of the Registrant, dated as of November 10, 2014, including forms of global notes representing the 1.000% Notes due 2022 and 1.625% Notes due 2026.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
930
8-K 4.1 11/10/14 4.6 Officer’s Certificate of the Registrant, dated as of February 9, 2015, including forms of global notes representing the Floating Rate Notes due 2020, 1.55% Notes due 2020, 2.15% Notes due 2022, 2.50% Notes due 2025 and 3.45% Notes due 2045.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
931
8-K 4.1 2/9/15 4.7 Officer’s Certificate of the Registrant, dated as of May 13, 2015, including forms of global notes representing the Floating Rate Notes due 2017, Floating Rate Notes due 2020, 0.900% Notes due 2017, 2.000% Notes due 2020, 2.700% Notes due 2022, 3.200% Notes due 2025, and 4.375% Notes due 2045.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
932
8-K 4.1 5/13/15 4.8 Officer’s Certificate of the Registrant, dated as of July 31, 2015, including forms of global notes representing the 3.05% Notes due 2029 and 3.60% Notes due 2042.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
933
8-K 4.1 7/31/15 Apple Inc. | 2021 Form 10-K | 57 Incorporated by Reference Exhibit Number Exhibit Description Form Exhibit Filing Date/ Period End Date 4.9 Officer’s Certificate of the Registrant, dated as of September 17, 2015, including forms of global notes representing the 1.375% Notes due 2024 and 2.000% Notes due...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
934
8-K 4.1 9/17/15 4.10 Officer’s Certificate of the Registrant, dated as of February 23, 2016, including forms of global notes representing the Floating Rate Notes due 2019, Floating Rate Notes due 2021, 1.300% Notes due 2018, 1.700% Notes due 2019, 2.250% Notes due 2021, 2.850% Notes due 2023, 3.250% Notes due 2026, 4.5...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
935
8-K 4.1 2/23/16 4.11 Supplement No.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
936
1 to the Officer’s Certificate of the Registrant, dated as of March 24, 2016.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
937
8-K 4.1 3/24/16 4.12 Officer’s Certificate of the Registrant, dated as of August 4, 2016, including forms of global notes representing the Floating Rate Notes due 2019, 1.100% Notes due 2019, 1.550% Notes due 2021, 2.450% Notes due 2026 and 3.850% Notes due 2046.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
938
8-K 4.1 8/4/16 4.13 Officer’s Certificate of the Registrant, dated as of February 9, 2017, including forms of global notes representing the Floating Rate Notes due 2019, Floating Rate Notes due 2020, Floating Rate Notes due 2022, 1.550% Notes due 2019, 1.900% Notes due 2020, 2.500% Notes due 2022, 3.000% Notes due 2024...
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
939
8-K 4.1 2/9/17 4.14 Officer’s Certificate of the Registrant, dated as of May 11, 2017, including forms of global notes representing the Floating Rate Notes due 2020, Floating Rate Notes due 2022, 1.800% Notes due 2020, 2.300% Notes due 2022, 2.850% Notes due 2024 and 3.200% Notes due 2027.
0000320193-21-000105/full-submission.txt
0000320193
20211029
10-K
940
8-K 4.1 5/11/17 4.15 Officer’s Certificate of the Registrant, dated as of May 24, 2017, including forms of global notes representing the 0.875% Notes due 2025 and 1.375% Notes due 2029.
0000320193-21-000105/full-submission.txt