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 |
|---|---|---|---|---|---|
0000320193 | 20021219 | 10-K | 1,421 | Executive Bonus
During the first quarter of 2000, the Company's Board of Directors approved a special executive bonus for the Company's Chief Executive Officer for past services in the form of an aircraft with a total cost to the Company of approximately $90 million, the majority of which was not tax deductible. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,422 | Approximately half of the total charge is for the cost of the aircraft. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,423 | The other half represents all other costs and taxes associated with the bonus. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,424 | In the fourth quarter of 2002, all significant work and payments associated with the aircraft were complete. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,425 | Of the original $90 million accrual, $2.4 million remained unspent at the end of fiscal 2002 and was reversed. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,426 | Technology Acquisition
As discussed in Note 4, during both 2002 and 2001 in its acquisition of Emagic and PowerSchool, respectively, the Company acquired certain technology that was under development and had no alternative future use. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,427 | This resulted in the recognition of purchased in-process research and development in the amount of $551,000 for Emagic and $10.8 million for PowerSchool, which was charged to operations upon acquisition. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,428 | Note 6-Income Taxes
The provision for income taxes consisted of the following (in millions):
The foreign provision for income taxes is based on foreign pretax earnings of approximately $284 million, $363 million and $1.019 billion in 2002, 2001, and 2000, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,429 | As of September 28, 2002, approximately half of the Company's cash, cash equivalents, and short-term investments is held by foreign subsidiaries and is generally based in U.S. dollar-denominated holdings. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,430 | Amounts held by foreign subsidiaries would be subject to U.S. income taxation on repatriation to the United States. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,431 | The Company's consolidated financial statements fully provide for any related tax liability on amounts that may be repatriated, aside from undistributed earnings of certain of the Company's foreign subsidiaries that are intended to be indefinitely reinvested in operations outside the United States. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,432 | U.S. income taxes have not been provided on a cumulative total of $755 million of such earnings. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,433 | It is not practicable to determine the income tax liability that might be incurred if these earnings were to be distributed. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,434 | Deferred tax assets and liabilities reflect the effects of tax losses, credits, and the future income tax effects of temporary differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates that apply t... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,435 | As of September 28, 2002 and September 29, 2001, the significant components of the Company's deferred tax assets and liabilities were (in millions):
As of September 28, 2002, the Company had operating loss carryforwards for federal tax purposes of approximately $72 million, which expire from 2009 through 2021. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,436 | These carryforwards are comprised of remaining operating loss carryforwards acquired from NeXT and other acquisitions, the utilization of which is subject to certain limitations imposed by the Internal Revenue Code. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,437 | The Company also has Federal credit carryforwards and various state and foreign tax loss and credit carryforwards, the tax effect of which is approximately $94 million and which expire between 2003 and 2022. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,438 | The remaining benefits from tax losses and credits do not expire. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,439 | As of September 28, 2002, a valuation allowance of $30 million was recorded against the deferred tax asset for the benefits of tax losses that may not be realized. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,440 | The valuation allowance relates primarily to the operating loss carryforwards acquired from NeXT and other acquisitions. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,441 | Management believes it is more likely than not that forecasted income, including income that may be generated as a result of certain tax planning strategies, together with the tax effects of the deferred tax liabilities, will be sufficient to fully recover the remaining deferred tax assets. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,442 | A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate (35% in 2001, 2000, and 1999) to income (loss) before provision for income taxes, is as follows (in millions):
The Internal Revenue Service (IRS) has completed audits of the Company's federal i... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,443 | Substantially all IRS audit issues for years through 1997 have been resolved. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,444 | The IRS is currently auditing the Company's federal income tax returns for fiscal years 1998 through 2000. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,445 | Management believes that adequate provision has been made for any adjustments that may result from tax examinations. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,446 | Note 7-Shareholders' Equity
Stock Repurchase Plan
In July 1999, the Company's Board of Directors authorized a plan for the Company to repurchase up to $500 million of its common stock. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,447 | This repurchase plan does not obligate the Company to acquire any specific number of shares or acquire shares over any specified period of time. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,448 | During 2000, the Company repurchased a total of 2.55 million shares of its common stock at a cost of $116 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,449 | During the fourth quarter of 2001, the Company entered into a forward purchase agreement to acquire 1.5 million shares of its common stock in September of 2003 at an average price of $16.64 per share for a total cost of $25.5 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,450 | The Company engaged in no transactions relating to the stock repurchase plan in fiscal 2002. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,451 | Since inception of the repurchase plan, the Company has repurchased or committed to repurchase a total of 6.55 million shares of its common stock at a cost of $217 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,452 | Preferred Stock
In August 1997, the Company and Microsoft Corporation (Microsoft) entered into a patent cross license and technology agreements. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,453 | In addition, Microsoft purchased 150,000 shares of Apple Series A nonvoting convertible preferred stock ("preferred stock") for $150 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,454 | These shares were convertible by Microsoft after August 5, 2000, into shares of the Company's common stock at a conversion price of $8.25 per share. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,455 | During 2000, 74,250 shares of preferred stock were converted to 9 million shares of the Company's common stock. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,456 | During 2001, the remaining 75,750 preferred shares were converted into 9.2 million shares of the Company's common stock. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,457 | Comprehensive Income
The following table summarizes the components of accumulated other comprehensive income, net of taxes, (in millions):
The following table summarizes activity in other comprehensive income related to available-for-sale securities, net of taxes (in millions):
The tax effect related to the change in u... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,458 | The tax effect on the reclassification adjustment for net gains included in net income was $10 million, $35 million and $94 million for fiscal 2002, 2001, and 2000, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,459 | The following table summarizes activity in other comprehensive income related to derivatives, net of taxes, held by the Company (in millions):
The tax effect related to the cumulative effect of adopting SFAS No. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,460 | 133 was $(5) as of September 29, 2001. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,461 | The tax effect related to the changes in fair value of derivatives was $(2) million and $(19) million for fiscal 2002 and 2001, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,462 | The tax effect related to derivative gains reclassified from OCI was $8 million and $23 million for fiscal 2002 and 2001, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,463 | Note 8-Employee Benefit Plans
1998 Executive Officer Stock Plan
The 1998 Executive Officer Stock Plan (the 1998 Plan) is a shareholder approved plan which replaced the 1990 Stock Option Plan terminated in April 1998, the 1981 Stock Option Plan terminated in October 1990, and the 1987 Executive Long Term Stock Option Pl... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,464 | Options granted before these plans' termination dates remain outstanding in accordance with their terms. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,465 | Options may be granted under the 1998 Plan to the Chairman of the Board of Directors, executive officers of the Company at the
level of Senior Vice President and above, and other key employees. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,466 | These options generally become exercisable over a period of 4 years, based on continued employment, and generally expire 10 years after the grant date. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,467 | The 1998 Plan permits the granting of incentive stock options, nonstatutory stock options, stock appreciation rights, and stock purchase rights. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,468 | 1997 Employee Stock Option Plan
In August 1997, the Company's Board of Directors approved the 1997 Employee Stock Option Plan (the 1997 Plan), a non-shareholder approved plan for grants of stock options to employees who are not officers of the Company. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,469 | Options may be granted under the 1997 Plan to employees at not less than the fair market value on the date of grant. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,470 | These options generally become exercisable over a period of 4 years, based on continued employment, and generally expire 10 years after the grant date. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,471 | 1997 Director Stock Option Plan
In August 1997, the Company's Board of Directors adopted a shareholder approved Director Stock Option Plan (DSOP) for non-employee directors of the Company. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,472 | Initial grants of 30,000 options under the DSOP vest in three equal installments on each of the first through third anniversaries of the date of grant, and subsequent annual grants of 10,000 options are fully vested at grant. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,473 | Prior to adoption of the DSOP, 60,000 options were granted in total to two then-current members of the Company's Board of Directors. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,474 | Employee Stock Purchase Plan
The Company has a shareholder approved employee stock purchase plan (the Purchase Plan), under which substantially all employees may purchase common stock through payroll deductions at a price equal to 85% of the lower of the fair market values as of the beginning and end of six-month offer... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,475 | Stock purchases under the Purchase Plan are limited to 10% of an employee's compensation, up to a maximum of $25,000 in any calendar year. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,476 | During 2002, 2001, and 2000, 1.8 million, 1.8 million and 766,000 shares, respectively, were issued under the Purchase Plan. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,477 | As of September 28, 2002, approximately 2.1 million shares were reserved for future issuance under the Purchase Plan. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,478 | Employee Savings Plan
The Company has an employee savings plan (the Savings Plan) qualifying as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,479 | Under the Savings Plan, participating U.S. employees may defer a portion of their pre-tax earnings, up to the Internal Revenue Service annual contribution limit ($11,000 for calendar year 2002). | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,480 | The Company matches 50% to 100% of each employee's contributions, depending on length of service, up to a maximum 6% of the employee's earnings. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,481 | The Company's matching contributions to the Savings Plan were approximately $19 million, $17 million, and $16 million in 2002, 2001, and 2000, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,482 | Stock Option Activity
A summary of the Company's stock option activity and related information for the years ended September 28, 2002, September 29, 2001 and September 30, 2000 follows (option amounts are presented in thousands):
The options outstanding as of September 28, 2002, have been segregated into five ranges fo... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,483 | As of September 30, 2000, the Company had exercisable options outstanding to purchase 23.7 million shares with a weighted average exercise price of $31.94. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,484 | Note 9-Stock-Based Compensation
Pro forma information regarding net income (loss) per share is required by SFAS No. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,485 | 123 and has been determined as if the Company had accounted for its employee stock options granted and employee stock purchase plan purchases subsequent to September 29, 1995, under the fair value method of that statement. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,486 | The fair values for these options and stock purchases were estimated at the date of grant and beginning of the period, respectively, using a Black-Scholes option pricing model. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,487 | The assumptions used for each of the last three fiscal years and the resulting estimate of weighted-average fair value per share of options granted during those years are as follows:
For purposes of pro forma disclosures, the estimated fair value of the options and shares are amortized to pro forma net income over the ... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,488 | The Company's pro forma information for each of the last three fiscal years follows (in millions, except per share amounts):
Note 10-Commitments and Contingencies
Lease Commitments
The Company leases various facilities and equipment under noncancelable operating lease arrangements. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,489 | The major facilities leases are for terms of 5 to 10 years and generally provide renewal options for terms of 3 to 5 additional years. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,490 | Leases for retail space are for terms of 5 to 12 years and often contain multi-year renewal options. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,491 | Rent expense under all operating leases, including both cancelable and noncancelable leases, was $92 million, $80 million, and $72 million in 2002, 2001, and 2000, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,492 | Future minimum lease payments under noncancelable operating leases having remaining terms in excess of one year as of September 28, 2002, are as follows (in millions):
Concentrations in the Available Sources of Supply of Materials and Product
Although certain components essential to the Company's business are generally... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,493 | Some other key components, while currently available to the Company from multiple sources, are at times subject to industry-wide availability and pricing pressures. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,494 | In addition, the Company uses some components that are not common to the rest of the personal computer industry, and new products introduced by the Company often initially utilize custom components obtained from only one source until the Company has evaluated whether there is a need for and subsequently qualifies addit... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,495 | If the supply of a key single-sourced component to the Company were to be delayed or curtailed or in the event a key manufacturing
vendor delays shipments of completed products to the Company, the Company's ability to ship related products in desired quantities and in a timely manner could be adversely affected. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,496 | The Company's business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source, or to identify and obtain sufficient quantities from an alternative source. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,497 | Continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the Company's requirements. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,498 | Finally, significant portions of the Company's CPUs, logic boards, and assembled products are now manufactured by outsourcing partners, the majority of which occurs in various parts of Asia. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,499 | Although the Company works closely with its outsourcing partners on manufacturing schedules and levels, the Company's operating results could be adversely affected if its outsourcing partners were unable to meet their production obligations. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,500 | Contingencies
Beginning on September 27, 2001, three shareholder class action lawsuits were filed in the United States District Court for the Northern District of California against the Company and its Chief Executive Officer. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,501 | These lawsuits are substantially identical, and purport to bring suit on behalf of persons who purchased the Company's publicly traded common stock between July 19, 2000, and September 28, 2000. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,502 | The complaints allege violations of the 1934 Securities Exchange Act and seek unspecified compensatory damages and other relief. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,503 | The Company believes these claims are without merit and intends to defend them vigorously. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,504 | The Company filed a motion to dismiss on June 4, 2002, which was heard by the Court on September 13, 2002. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,505 | On December 11, 2002, the Court granted the Company's motion to dismiss for failure to state a cause of action, with leave to plaintiffs to amend their complaint within thirty days. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,506 | The Company is subject to certain other legal proceedings and claims that have arisen in the ordinary course of business and have not been fully adjudicated. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,507 | In the opinion of management, the Company does not have a potential liability related to any current legal proceedings and claims that would have a material adverse effect on its financial condition, liquidity or results of operations. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,508 | However, the results of legal proceedings cannot be predicted with certainty. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,509 | Should the Company fail to prevail in any of these legal matters or should several of these legal matters be resolved against the Company in the same reporting period, the operating results of a particular reporting period could be materially adversely affected. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,510 | The parliament of the European Union is working on finalizing the Waste Electrical and Electronic Equipment Directive (the Directive). | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,511 | The Directive makes producers of electrical goods, including personal computers, financially responsible for the collection, recycling, and safe disposal of past and future products. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,512 | The Directive must now be approved and implemented by individual European Union governments by June 2004, while the producers' financial obligations are scheduled to start June 2005. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,513 | The Company's potential liability resulting from the Directive related to past sales of its products and expenses associated with future sales of its product may be substantial. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,514 | However, because it is likely that specific laws, regulations, and enforcement policies will vary significantly between individual European member states, it is not currently possible to estimate the Company's existing liability or future expenses resulting from the Directive. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,515 | As the European Union and its individual member states clarify specific requirements and policies with respect to the Directive, the Company will continue to assess its potential financial impact. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,516 | Similar legislation may be enacted in other geographies, including federal and state legislation in the United States, the cumulative impact of which could be significant. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,517 | Note 11-Segment Information and Geographic Data
The Company manages its business primarily on a geographic basis. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,518 | The Company's reportable segments are comprised of the Americas, Europe, Japan, and Retail. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,519 | The Americas segment includes both North and South America, except for the activities of the Company's Retail segment. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,520 | The Europe segment includes European countries as well as the Middle East and Africa. | 0001047469-02-007674/full-submission.txt |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.