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0000320193
20150428
10-Q
741
As a result, the value and liquidity of the Company’s cash, cash equivalents and marketable securities may fluctuate substantially.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
742
Therefore, although the Company has not realized any significant losses on its cash, cash equivalents and marketable securities, future fluctuations in their value could result in a significant realized loss.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
743
The Company is exposed to credit risk on its trade accounts receivable, vendor non-trade receivables and prepayments related to long-term supply agreements, and this risk is heightened during periods when economic conditions worsen.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
744
The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and value-added resellers.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
745
The Company also sells its products directly to small and mid-sized businesses and education, enterprise and government customers.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
746
A substantial majority of the Company’s outstanding trade receivables are not covered by collateral, third-party financing arrangements or credit insurance.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
747
The Company’s exposure to credit and collectability risk on its trade receivables is higher in certain international markets and its ability to mitigate such risks may be limited.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
748
The Company also has unsecured vendor non-trade receivables resulting from purchases of components by outsourcing partners and other vendors that manufacture sub-assemblies or assemble final products for the Company.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
749
In addition, the Company has made prepayments associated with long-term supply agreements to secure supply of inventory components.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
750
As of March 28, 2015, a significant portion of the Company’s trade receivables was concentrated within cellular network carriers, and its vendor non-trade receivables and prepayments related to long-term supply agreements were concentrated among a few individual vendors located primarily in Asia.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
751
While the Company has procedures to monitor and limit exposure to credit risk on its trade and vendor non-trade receivables, as well as long-term prepayments, there can be no assurance such procedures will effectively limit its credit risk and avoid losses.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
752
The Company could be subject to changes in its tax rates, the adoption of new U.S. or international tax legislation or exposure to additional tax liabilities.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
753
The Company is subject to taxes in the U.S. and numerous foreign jurisdictions, including Ireland, where a number of the Company’s subsidiaries are organized.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
754
Due to economic and political conditions, tax rates in various jurisdictions may be subject to significant change.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
755
The Company’s future effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory tax rates, changes in the valuation of deferred tax assets and liabilities, or changes in tax laws or their interpretation, including in the U.S. and Ireland.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
756
For example, in June 2014, the European Commission opened a formal investigation of Ireland to examine whether decisions by the tax authorities with regard to the corporate income tax to be paid by two of the Company’s Irish subsidiaries comply with European Union rules on state aid.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
757
If the European Commission were to conclude against Ireland, it could require Ireland to recover from the Company past taxes covering a period of up to 10 years reflective of the disallowed state aid, and such amount could be material.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
758
The Company is also subject to the examination of its tax returns and other tax matters by the Internal Revenue Service and other tax authorities and governmental bodies.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
759
The Company regularly assesses the likelihood of an adverse outcome resulting from these examinations to determine the adequacy of its provision for taxes.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
760
There can be no assurance as to the outcome of these examinations.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
761
If the Company’s effective tax rates were to increase, particularly in the U.S. or Ireland, or if the ultimate determination of the Company’s taxes owed is for an amount in excess of amounts previously accrued, the Company’s operating results, cash flows and financial condition could be adversely affected.
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20150428
10-Q
762
Item 2.
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0000320193
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10-Q
763
Unregistered Sales of Equity Securities and Use of Proceeds Share repurchase activity during the three months ended March 28, 2015 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts): (1) In 2012, the Company’s Board of Directors authorized a program to repurch...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
764
The Company’s Board of Directors increased the authorization to repurchase the Company’s common stock to $60 billion in April 2013 and to $90 billion in April 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
765
As of March 28, 2015, $80 billion of the $90 billion had been utilized.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
766
The remaining $10 billion in the table represents the amount available to repurchase shares under the authorized repurchase program as of March 28, 2015.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
767
Additionally, the Company announced on April 27, 2015 that the Board of Directors increased the share repurchase program authorization from $90 billion to $140 billion.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
768
The Company’s share repurchase program does not obligate it to acquire any specific number of shares.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
769
Under the program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
770
(2) In August 2014, the Company entered into an accelerated share repurchase arrangement (“ASR”) to purchase up to $9.0 billion of the Company’s common stock.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
771
In February 2015, the purchase period for this ASR ended and an additional 13.3 million shares were delivered and retired.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
772
In total, 81.5 million net shares were delivered under this ASR at an average repurchase price of $110.40.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
773
Item 3.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
774
Defaults Upon Senior Securities None.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
775
Item 4.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
776
Mine Safety Disclosures Not applicable.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
777
Item 5.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
778
Other Information None.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
779
Item 6.
0001193125-15-153166/full-submission.txt
0000320193
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10-Q
780
Exhibits Index to Exhibits (1) Incorporated by Reference Exhibit Number Exhibit Description Form Exhibit Filing Date/ Period End Date 3.1 Restated Articles of Incorporation of the Registrant effective as of June 6, 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
781
8-K 3.1 6/6/14 3.2 Amended and Restated Bylaws of the Registrant effective as of February 28, 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
782
8-K 3.2 3/5/14 4.1 Form of Common Stock Certificate of the Registrant.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
783
10-Q 4.1 12/30/06 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.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
784
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.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
785
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.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
786
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 1.00% Notes due 2022 and 1.625% Notes due 2026.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
787
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.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
788
8-K 4.1 2/9/15 10.1* Employee Stock Purchase Plan, as amended and restated as of March 10, 2015.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
789
8-K 10.1 3/13/15 10.2* Form of Indemnification Agreement between the Registrant and each director and executive officer of the Registrant.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
790
10-Q 10.2 6/27/09 10.3* 1997 Director Stock Plan, as amended through August 23, 2012.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
791
10-Q 10.3 12/28/13 10.4* 2003 Employee Stock Plan, as amended through February 25, 2010.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
792
8-K 10.1 3/1/10 10.5* Form of Restricted Stock Unit Award Agreement under 2003 Employee Stock Plan effective as of November 16, 2010.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
793
10-Q 10.10 12/25/10 10.6* Form of Restricted Stock Unit Award Agreement under 2003 Employee Stock Plan effective as of April 6, 2012.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
794
10-Q 10.8 3/31/12 10.7* Summary Description of Amendment, effective as of May 24, 2012, to certain Restricted Stock Unit Award Agreements outstanding as of April 5, 2012.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
795
10-Q 10.8 6/30/12 10.8* 2014 Employee Stock Plan.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
796
8-K 10.1 3/5/14 10.9* Form of Restricted Stock Unit Award Agreement under 2014 Employee Stock Plan as of February 28, 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
797
8-K 10.2 3/5/14 10.10* Form of Performance Award Agreement under 2014 Employee Stock Plan effective as of February 28, 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
798
8-K 10.3 3/5/14 10.11* Form of Restricted Stock Unit Award Agreement under 2014 Employee Stock Plan effective as of August 26, 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
799
10-K 10.11 9/27/14 10.12* Form of Performance Award Agreement under 2014 Employee Stock Plan effective as of August 26, 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
800
10-K 10.12 9/27/14 Incorporated by Reference Exhibit Number Exhibit Description Form Exhibit Filing Date/ Period End Date 10.13* Form of Amendment, effective as of August 26, 2014, to Restricted Stock Unit Award Agreements and Performance Award Agreements outstanding as of August 26, 2014.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
801
10-K 10.13 9/27/14 10.14* Offer Letter, dated August 1, 2013, from the Registrant to Angela Ahrendts.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
802
10-Q 10.14 12/27/14 31.1** Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
803
31.2** Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
804
32.1*** Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
805
101.INS** XBRL Instance Document.
0001193125-15-153166/full-submission.txt
0000320193
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806
101.SCH** XBRL Taxonomy Extension Schema Document.
0001193125-15-153166/full-submission.txt
0000320193
20150428
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807
101.CAL** XBRL Taxonomy Extension Calculation Linkbase Document.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
808
101.DEF** XBRL Taxonomy Extension Definition Linkbase Document.
0001193125-15-153166/full-submission.txt
0000320193
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809
101.LAB** XBRL Taxonomy Extension Label Linkbase Document.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
810
101.PRE** XBRL Taxonomy Extension Presentation Linkbase Document.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
811
* Indicates management contract or compensatory plan or arrangement.
0001193125-15-153166/full-submission.txt
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20150428
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812
** Filed herewith.
0001193125-15-153166/full-submission.txt
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20150428
10-Q
813
*** Furnished herewith.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
814
(1) Certain instruments defining the rights of holders of long-term debt securities of the Registrant are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
815
The Registrant hereby undertakes to furnish to the SEC, upon request, copies of any such instruments.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
816
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
817
April 28, 2015 Apple Inc. By: /s/ Luca Maestri Luca Maestri Senior Vice President, Chief Financial Officer
0001193125-15-153166/full-submission.txt
0000320193
20060203
10-Q
0
10-Q a06-3798_110q.htm QUARTERLY REPORT PURSUANT TO SECTIONS 13 OR 15(D) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2005 or TRANSITION R...
0001104659-06-005910/full-submission.txt
0000320193
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10-Q
1
Commission file number: 000-10030 APPLE COMPUTER, INC. (Exact name of Registrant as specified in its charter) CALIFORNIA (State or other jurisdiction of incorporation or organization) (I.R.S.
0001104659-06-005910/full-submission.txt
0000320193
20060203
10-Q
2
Employer Identification No.)
0001104659-06-005910/full-submission.txt
0000320193
20060203
10-Q
3
Infinite Loop Cupertino, California (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (408) 996-1010 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the...
0001104659-06-005910/full-submission.txt
0000320193
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10-Q
4
Yes ý No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.
0001104659-06-005910/full-submission.txt
0000320193
20060203
10-Q
5
See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act.
0001104659-06-005910/full-submission.txt
0000320193
20060203
10-Q
6
Large accelerated filer ý Accelerated filer o Non-accelerated filer o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
0001104659-06-005910/full-submission.txt
0000320193
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10-Q
7
Yes o No ý 848,612,359 shares of common stock issued and outstanding as of January 25, 2006 PART I.
0001104659-06-005910/full-submission.txt
0000320193
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10-Q
8
FINANCIAL INFORMATION Item 1.
0001104659-06-005910/full-submission.txt
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9
Financial Statements APPLE COMPUTER, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in millions, except share and per share amounts) See accompanying notes to condensed consolidated financial statements.
0001104659-06-005910/full-submission.txt
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20060203
10-Q
10
APPLE COMPUTER, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in millions, except share amounts) See accompanying notes to condensed consolidated financial statements.
0001104659-06-005910/full-submission.txt
0000320193
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11
APPLE COMPUTER, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in millions) See accompanying notes to condensed consolidated financial statements.
0001104659-06-005910/full-submission.txt
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12
APPLE COMPUTER, INC. Notes to Condensed Consolidated Financial Statements (Unaudited) Note 1 - Summary of Significant Accounting Policies Apple Computer, Inc. and its subsidiaries (the Company) designs, manufactures, and markets personal computers and related software, services, peripherals, and networking solutions.
0001104659-06-005910/full-submission.txt
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13
The Company also designs, develops, and markets a line of portable digital music players along with related accessories and services including the online distribution of third-party music, audio books, music videos, short films, and television shows.
0001104659-06-005910/full-submission.txt
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14
The Company sells its products worldwide through its online stores, its own retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers.
0001104659-06-005910/full-submission.txt
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15
In addition to its own hardware, software, and peripheral products, the Company sells a variety of third-party hardware and software products through its online and retail stores.
0001104659-06-005910/full-submission.txt
0000320193
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10-Q
16
The Company sells to education, consumer, creative professional, business, and government customers.
0001104659-06-005910/full-submission.txt
0000320193
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17
Basis of Presentation and Preparation The accompanying condensed consolidated financial statements include the accounts of the Company.
0001104659-06-005910/full-submission.txt
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18
Intercompany accounts and transactions have been eliminated.
0001104659-06-005910/full-submission.txt
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19
The preparation of these condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes.
0001104659-06-005910/full-submission.txt
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20
Actual results could differ materially from those estimates.
0001104659-06-005910/full-submission.txt
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21
Certain prior year amounts in the consolidated financial statements and notes thereto have been reclassified to conform to the current year presentation.
0001104659-06-005910/full-submission.txt
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22
These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and the notes thereto for the fiscal year ended September 24, 2005, included in its Annual Report on Form 10-K for the year ended September 24, 2005 (the 200...
0001104659-06-005910/full-submission.txt