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0000320193 | 20021219 | 10-K | 1,521 | The Japan segment includes only Japan. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,522 | The Retail segment operates Apple-owned retail stores in the United States. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,523 | Other operating segments include Asia-Pacific, which includes Australia and Asia except for Japan, and the Company's subsidiary, Filemaker, Inc. Each reportable geographic operating segment provides similar products and services, and the accounting policies of the various segments are the same as those described in the... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,524 | The Company evaluates the performance of its operating segments based on net sales and operating income. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,525 | Net sales for geographic segments are based on the location of the customers. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,526 | Operating income for each segment includes revenue from third-parties, cost of sales, and operating expenses directly attributable to the segment. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,527 | Operating income for each segment excludes other income and expense and certain expenses that are managed outside the operating segments. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,528 | Costs excluded from segment operating income include various corporate expenses, manufacturing costs not included in standard costs, income taxes, and various nonrecurring charges. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,529 | Corporate expenses include research and development, corporate marketing expenses, and other separately managed general and administrative expenses including certain corporate expenses associated with support of the Retail segment. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,530 | The Company does not include intercompany transfers between segments for management reporting purposes. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,531 | Segment assets exclude corporate assets. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,532 | Corporate assets include cash, short-term and long-term investments, manufacturing facilities, miscellaneous corporate infrastructure, goodwill and other acquired intangible assets, and retail store construction-in-progress which is not subject to depreciation. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,533 | Except for the Retail segment, capital expenditures for long-lived assets are not reported to management by segment. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,534 | Capital expenditures by the Retail segment were $106 million in 2002 and $92 million in 2001. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,535 | Operating income for all segments except Retail includes cost of sales at standard cost. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,536 | Certain manufacturing expenses and related adjustments not included in segment cost of sales, including variances between standard and actual manufacturing costs and the mark-up above standard cost for product supplied to the Retail segment, are included in corporate expenses. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,537 | To assess the operating performance of the Retail segment several significant items are included in its results for internal management reporting that are not included in results of the Company's other segments. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,538 | First, cost of sales for the Retail segment includes a mark-up above the Company's standard cost to approximate the price normally charged to the Company's major channel partners in the United States. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,539 | For the twelve-month period ended September 28, 2002 and September 29, 2001, this resulted in the recognition of additional cost of sales above standard cost by the Retail segment and an offsetting benefit to corporate expenses of approximately $52 million and $4 million, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,540 | Second, the Retail segment includes in its net sales proceeds from sales of the Company's extended warranty and support contracts. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,541 | This treatment is consistent with how the Company's major channel partners account for the sale of the Company's extended warranty and support contracts. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,542 | Because the revenue from these contracts has yet to be earned by the Company, an offset to this amount is reflected as a decrease in other segments' net sales. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,543 | For the twelve-month period ended September 28, 2002, this resulted in the recognition of additional net sales by the Retail segment, and an offsetting reduction to other segments' net sales of $4.8 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,544 | This amount was insignificant in 2001. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,545 | Third, a portion of the operating expenses associated with certain high profile retail stores are allocated from the Retail segment to corporate marketing expense. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,546 | Allocation of these expenses reflects the unique nature of these stores which, given their larger size and extraordinary design elements, function as vehicles for general corporate marketing, corporate events, and brand
awareness. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,547 | Allocated operating costs are those in excess of operating costs incurred by one of the Company's more typical retail locations. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,548 | Stores were open in two such high profile locations in New York and Los Angeles as of September 28, 2002, both of which were opened in fiscal 2002. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,549 | Expenses allocated to corporate marketing resulting from the operations of these two stores was $1 million in 2002. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,550 | Summary information by operating segment follows (in millions):
(a)The Americas asset figures do not include fixed assets held in the United States. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,551 | Such fixed assets are not allocated specifically to the Americas segment and are included in the corporate assets figures below. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,552 | (b)Retail segment depreciation and asset figures reflect the cost and related depreciation of its retail stores and related infrastructure. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,553 | Retail store construction-in-progress, which is not subject to depreciation, is reflected in corporate assets. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,554 | A reconciliation of the Company's segment operating income, and assets to the consolidated financial statements follows (in millions):
A large portion of the Company's net sales is derived from its international operations. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,555 | Also, a majority of the raw materials used in the Company's products is obtained from sources outside of the United States, and a majority of the products sold by the Company is assembled internationally in the Company's facilities in Cork, Ireland and Singapore or by third-party vendors in Taiwan, Korea, Mexico, the P... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,556 | As a result, the Company is subject to risks associated with foreign operations, such as obtaining governmental permits and approvals, currency exchange fluctuations, currency restrictions, political instability, labor problems, trade restrictions, and changes in tariff and freight charges. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,557 | During 2000, a single distributor, Ingram Micro Inc. accounted for approximately 11.5% of the Company's net sales. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,558 | Net sales during 2000 to Ingram Micro Inc. in the Americas and Europe segments were $651 million and $255 million, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,559 | Net sales to Ingram Micro Inc. in all other segments were $14 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,560 | No other single customer accounted for more than 10% of net sales in 2000. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,561 | No single customer accounted for more than 10% of net sales in 2002 or 2001. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,562 | Net sales and long-lived assets related to operations in the United States, Japan, and other foreign countries are as follows (in millions):
Information regarding net sales by product is as follows (in millions):
(a)Includes server sales and amounts previously reported as G4 Cube. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,563 | Note 12-Earnings Per Common Share
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except net income (loss) and per share amounts):
Options to purchase 101.8 million shares of common stock were outstanding at the end of 2002 that were not included in the computation ... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,564 | At September 29, 2001, the Company had options to purchase 97.2 million shares of its common stock outstanding, all of which were excluded from the computation of diluted loss per share for 2001 because the effect would have been antidilutive. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,565 | Options to purchase 2.5 million shares of common stock were outstanding at the end of 2000 that were not included in the computation of diluted earnings per share for that year because the options' exercise price was greater than the average market price of the Company's common shares for that year and, therefore, the ... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,566 | Note 13-Related Party Transactions
Mr. Jerome York, a member of the Board of the Directors of the Company, is a member of an investment group that purchased MicroWarehouse, Inc. ("MicroWarehouse") in January 2000. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,567 | He also serves as its Chairman, President and Chief Executive Officer. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,568 | MicroWarehouse is a multi-billion dollar specialty catalog and online retailer and direct marketer of computer products, including products made by the
Company, through its MacWarehouse catalog. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,569 | MicroWarehouse accounted for 3.3% and 2.89% of the Company's net sales in 2002 and 2001, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,570 | Trade receivables from MicroWarehouse were $20.9 million and $7.6 million as of September 28, 2002, and September 29, 2001, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,571 | These receivables are subject to the same credit risk as the Company's other trade receivables. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,572 | In addition, the Company purchases miscellaneous equipment and supplies from MicroWarehouse. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,573 | Total purchases amounted to approximately $2.9 million in 2002 and $3.4 million in 2001. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,574 | In March 2002, the Company entered into a Reimbursement Agreement with its Chief Executive Officer, Mr. Steven P. Jobs, for the reimbursement of expenses incurred by Mr. Jobs in the operation of his private plane when used for Apple business. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,575 | The Reimbursement Agreement is effective for expenses incurred by Mr. Jobs for Apple business purposes since he took delivery of the plane in May 2001. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,576 | During 2002, the Company recognized a total of $1,168,000 in expenses pursuant to this reimbursement agreement related to expenses incurred by Mr. Jobs during 2001 and 2002. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,577 | In connection with a relocation assistance package, the Company loaned Mr. Ronald B. Johnson, Senior Vice President, Retail, $1.5 million for the purchase of his principal residence. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,578 | The loan is secured by a deed of trust and is due and payable in May 2004. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,579 | Under the terms of the loan, Mr. Johnson agreed that should he exercise any of his stock options prior to the due date of the loan, that he would pay the Company an amount equal to the lesser of (1) an amount equal to 50% of the total net gain realized from the exercise of the options; or (2) $375,000 multiplied by the... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,580 | Note 14-Selected Quarterly Financial Information (Unaudited)
Basic and diluted earnings per share are computed independently for each of the quarters presented. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,581 | Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,582 | Net income for the fourth quarter of 2002 included several non-recurring items, net of tax: the write-down of certain equity investments totaling $49 million; a restructuring charge of $4 million; an in-process research and development charge of approximately $1 million; and the reversal of a portion of a previous
exec... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,583 | Net income for the first quarter of 2002 included a restructuring charge, net of tax, $18 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,584 | Net income during the first quarter of 2002 also included gains, net of tax, of $17 million related to non-current investments. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,585 | Net income during the fourth, third, second, and first quarters of 2001 included after-tax net gains related to non-current investments of $1 million, $8 million, $4 million, and $41 million, respectively. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,586 | Net income for the third quarter of 2001 included an after-tax charge for purchased IPR&D of $8 million associated with the Company's acquisition of PowerSchool. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,587 | Net income for the first quarter of 2001 includes an after-tax favorable cumulative-effect-type adjustment for the adoption of SFAS No. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,588 | 133 of $12 million. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,589 | Item 9. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,590 | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Not applicable. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,591 | REPORT OF INDEPENDENT AUDITORS
The Board of Directors and Shareholders
Apple Computer, Inc.:
We have audited the accompanying consolidated balance sheets of Apple Computer, Inc. and subsidiaries as of September 28, 2002 and September 29, 2001, and the related consolidated statements of operations, shareholders' equity,... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,592 | These consolidated financial statements are the responsibility of the Company's management. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,593 | Our responsibility is to express an opinion on these consolidated financial statements based on our audits. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,594 | We conducted our audits in accordance with auditing standards generally accepted in the United States of America. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,595 | Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,596 | An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,597 | An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,598 | We believe that our audits provide a reasonable basis for our opinion. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,599 | In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Apple Computer, Inc. and subsidiaries as of September 28, 2002 and September 29, 2001, and the results of their operations and their cash flows for each of the years in the three-y... | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,600 | As discussed in Note 1 to the consolidated financial statements, the Company changed its method of accounting for goodwill in 2002 and changed its method of accounting for derivative instruments and hedging activities in 2001. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,601 | KPMG LLP
Mountain View, California
October 15, 2002
PART III
Item 10. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,602 | Directors and Executive Officers of the Registrant
Directors
Listed below are the Company's five directors whose terms expire at the next annual meeting of shareholders. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,603 | William V. Campbell has been Chairman of the Board of Directors of Intuit, Inc. (Intuit) since August 1998. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,604 | From September 1999 to January 2000, Mr. Campbell acted as Chief Executive Officer of Intuit. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,605 | From April 1994 to August 1998, Mr. Campbell was President and Chief Executive Officer and a director of Intuit. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,606 | From January 1991 to December 1993, Mr. Campbell was President and Chief Executive Officer of GO Corporation. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,607 | Mr. Campbell also serves on the board of directors of SanDisk Corporation and Loudcloud, Inc.
Millard S. Drexler was Chief Executive Officer of Gap Inc. from 1995 and President from 1987 until September 2002. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,608 | Mr. Drexler was also a member of the Board of Directors of Gap Inc. from November 1983 until October 2002. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,609 | He also served as the President of the Gap Division from 1983 to 1987. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,610 | Steven P. Jobs is one of the Company's co-founders and currently serves as its Chief Executive Officer. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,611 | Mr. Jobs is also the Chairman and Chief Executive Officer of Pixar Animation Studios. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,612 | In addition, Mr. Jobs co-founded NeXT Software, Inc. (NeXT) and served as the Chairman and Chief Executive Officer of NeXT from 1985 until 1997 when NeXT was acquired by the Company. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,613 | Arthur D. Levinson, Ph.D. has been President, Chief Executive Officer and a director of Genentech Inc. (Genentech) since July 1995. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,614 | Dr. Levinson has been Chairman of the Board of Directors of Genentech since September 1999. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,615 | He joined Genentech in 1980 and served in a number of executive positions, including Senior Vice President of R&D from 1993 to 1995. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,616 | Jerome B. York is Chairman and Chief Executive Officer of Micro Warehouse, Inc. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,617 | Previously, he was Vice Chairman of Tracinda Corporation from September 1995 to October 1999. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,618 | In May 1993, he joined International Business Machines Corporation (IBM) as Senior Vice President and Chief Financial Officer, and he served as a director of IBM from January 1995 to August 1995. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,619 | Prior to joining IBM, Mr. York served in a number of executive positions at Chrysler Corporation, including Executive Vice President-Finance and Chief Financial Officer from May 1990 to May 1993. | 0001047469-02-007674/full-submission.txt |
0000320193 | 20021219 | 10-K | 1,620 | He also served as a director of Chrysler Corporation from 1992 to 1993. | 0001047469-02-007674/full-submission.txt |
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