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 | 20181105 | 10-K | 571 | Rest of Asia Pacific
The following table presents Rest of Asia Pacific net sales information for 2018, 2017 and 2016 (dollars in millions):
Rest of Asia Pacific net sales increased during 2018 compared to 2017 due primarily to higher net sales of iPhone and Services. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 572 | The strength in foreign currencies relative to the U.S. dollar had a favorable impact on Rest of Asia Pacific net sales during 2018. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 573 | Rest of Asia Pacific net sales increased during 2017 compared to 2016 due primarily to higher net sales of iPhone, Services and Mac. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 574 | The strength in foreign currencies relative to the U.S. dollar had a favorable impact on Rest of Asia Pacific net sales during 2017. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 575 | Gross Margin
Gross margin for 2018, 2017 and 2016 was as follows (dollars in millions):
Gross margin increased in 2018 compared to 2017 due primarily to a favorable shift in mix of iPhones with higher average selling prices and higher Services net sales, partially offset by higher product cost structures. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 576 | Gross margin percentage decreased year-over-year due primarily to higher product cost structures, partially offset by higher Services net sales. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 577 | The strength in foreign currencies relative to the U.S. dollar had a favorable impact on gross margin and gross margin percentage during 2018. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 578 | Apple Inc. | 2018 Form 10-K | 26
Gross margin increased in 2017 compared to 2016 due primarily to a shift in mix to Services and an overall increase in product volumes. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 579 | Gross margin percentage decreased year-over-year due primarily to higher product costs, partially offset by a favorable shift in mix to Services. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 580 | The weakness in foreign currencies relative to the U.S. dollar had an unfavorable impact on gross margin and gross margin percentage during 2017. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 581 | The Company anticipates gross margin percentage during the first quarter of 2019 to be between 38.0% and 38.5%. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 582 | The foregoing statement regarding the Company’s expected gross margin percentage in the first quarter of 2019 is forward-looking and could differ from actual results. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 583 | The Company’s future gross margins can be impacted by multiple factors including, but not limited to, those set forth in Part I, Item 1A of this Form 10-K under the heading “Risk Factors” and those described in this paragraph. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 584 | In general, the Company believes gross margins will be subject to volatility and remain under downward pressure due to a variety of factors, including: continued industry-wide global product pricing pressures and product pricing actions that the Company may take in response to such pressures; increased competition; the... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 585 | Operating Expenses
Operating expenses for 2018, 2017 and 2016 were as follows (dollars in millions):
Research and Development
The year-over-year growth in R&D expense in 2018 was driven primarily by increases in headcount-related expenses, infrastructure-related costs and material costs to support expanded R&D activiti... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 586 | R&D expense increased during 2017 compared to 2016 due primarily to increases in headcount-related expenses and material costs to support expanded R&D activities. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 587 | The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to the Company’s core business strategy. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 588 | Selling, General and Administrative
The year-over-year growth in selling, general and administrative expense in 2018 was driven primarily by increases in in headcount-related expenses, professional services and infrastructure-related costs. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 589 | The increase in selling, general and administrative expense in 2017 compared to 2016 was driven primarily by an increase in headcount-related expenses, variable selling expenses and infrastructure-related costs. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 590 | Other Income/(Expense), Net
Other income/(expense), net for 2018, 2017 and 2016 was as follows (dollars in millions):
The year-over-year decrease in other income/(expense), net during 2018 was due primarily to higher interest expense on debt and the impact of foreign exchange-related items, partially offset by higher i... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 591 | The year-over-year increase in other income/(expense), net during 2017 was due primarily to higher interest income and the favorable impact of foreign exchange-related items, partially offset by higher interest expense on debt. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 592 | The weighted-average interest rate earned by the Company on its cash, cash equivalents and marketable securities was 2.16%, 1.99% and 1.73% in 2018, 2017 and 2016, respectively. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 593 | Apple Inc. | 2018 Form 10-K | 27
Provision for Income Taxes
Provision for income taxes and effective tax rates for 2018, 2017 and 2016 were as follows (dollars in millions):
On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which significantly changed U.S. tax law. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 594 | The Act lowered the Company’s U.S. statutory federal income tax rate from 35% to 21% effective January 1, 2018, while also imposing a deemed repatriation tax on previously deferred foreign income. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 595 | By operation of law, the Company applied a blended U.S. statutory federal income tax rate of 24.5% for 2018 (the “2018 blended U.S. tax rate”). | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 596 | The Act also created a new minimum tax on certain future foreign earnings. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 597 | The Company’s effective tax rate for 2018 was lower than the 2018 blended U.S. tax rate due primarily to the lower tax rate on foreign earnings, partially offset by the remeasurement of deferred tax assets and liabilities as a result of the Act. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 598 | The Company’s effective tax rates for 2017 and 2016 were lower than the historical statutory federal income tax rate of 35% due primarily to certain undistributed foreign earnings, a substantial portion of which was generated by subsidiaries organized in Ireland, for which no U.S. taxes were provided when such earnings... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 599 | The lower effective tax rate in 2018 compared to 2017 was due primarily to the lower 2018 blended U.S. tax rate, partially offset by the remeasurement of deferred tax assets and liabilities as a result of the Act. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 600 | The lower effective tax rate in 2017 compared to 2016 was due to a different geographic mix of earnings and higher U.S. R&D tax credits. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 601 | As a result of adopting Accounting Standards Update (“ASU”) No. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 602 | 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), in 2018, the Company records any excess tax benefits or deficiencies from its equity awards as part of the provision for income taxes. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 603 | The Company anticipates that these excess tax benefits or deficiencies will have the greatest impact on its effective tax rates in the first and third quarters, as the majority of the Company’s equity awards vest in those quarters. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 604 | As of September 29, 2018, the Company had deferred tax assets arising from deductible temporary differences, tax losses and tax credits of $6.3 billion and deferred tax liabilities of $426 million. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 605 | 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 future reversals of existing taxable temporary differences, will be sufficient to recover the deferred tax assets. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 606 | The Company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and the amount of a valuation allowance. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 607 | On August 30, 2016, the European Commission announced its decision that Ireland granted state aid to the Company by providing tax opinions in 1991 and 2007 concerning the tax allocation of profits of the Irish branches of two subsidiaries of the Company (the “State Aid Decision”). | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 608 | The State Aid Decision ordered Ireland to calculate and recover additional taxes from the Company for the period June 2003 through December 2014. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 609 | The recovery amount was calculated to be €13.1 billion, plus interest of €1.2 billion. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 610 | Irish legislative changes, effective as of January 2015, eliminated the application of the tax opinions from that date forward. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 611 | The Company believes the State Aid Decision to be without merit and appealed to the General Court of the Court of Justice of the European Union. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 612 | Ireland has also appealed the State Aid Decision. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 613 | The Company believes that any incremental Irish corporate income taxes potentially due related to the State Aid Decision would be creditable against U.S. taxes, subject to any foreign tax credit limitations in the Act. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 614 | As of September 29, 2018, the entire recovery amount plus interest was funded into escrow, where it will remain restricted from general use pending conclusion of all appeals. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 615 | On July 24, 2018, the U.S. Ninth Circuit Court of Appeals reversed the U.S. Tax Court's decision in Altera Corp v. Commissioner, regarding the inclusion of share-based compensation in cost-sharing arrangements with foreign subsidiaries. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 616 | The reversal was subsequently withdrawn, and the Company believes adequate provision has been made for any adjustments that may result from the final resolution of the case. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 617 | Recent Accounting Pronouncements
Hedging
In August 2017, the Financial Accounting Standards Board (the “FASB”) issued ASU No. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 618 | 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”). | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 619 | ASU 2017-12 expands component and fair value hedging, specifies the presentation of the effects of hedging instruments, and eliminates the separate measurement and presentation of hedge ineffectiveness. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 620 | The Company will adopt ASU 2017-12 in its first quarter of 2020 utilizing the modified retrospective transition method and is currently evaluating the impact of adoption on its consolidated financial statements. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 621 | Apple Inc. | 2018 Form 10-K | 28
Income Taxes
In October 2016, the FASB issued ASU No. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 622 | 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”), which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 623 | The Company will adopt ASU 2016-16 in its first quarter of 2019 utilizing the modified retrospective transition method. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 624 | Currently, the Company estimates recording $3 billion of net deferred tax assets on its Condensed Consolidated Balance Sheets upon adoption. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 625 | However, the ultimate impact of adopting ASU 2016-16 will depend on the balance of intellectual property transferred between its subsidiaries as of the adoption date, as well as the deferred tax impact of the new minimum tax on certain future foreign earnings. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 626 | The Company will recognize incremental deferred income tax expense thereafter as these net deferred tax assets are utilized. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 627 | Leases
In February 2016, the FASB issued ASU No. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 628 | 2016-02, Leases (Topic 842) (“ASU 2016-02”), which modifies lease accounting for lessees to increase transparency and comparability by recording lease assets and liabilities for operating leases and disclosing key information about leasing arrangements. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 629 | The Company will adopt ASU 2016-02 utilizing the modified retrospective transition method through a cumulative-effect adjustment at the beginning of its first quarter of 2020. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 630 | While the Company is currently evaluating the impact of adopting ASU 2016-02, based on the lease portfolio as of September 29, 2018, the Company anticipates recording lease assets and liabilities of approximately $8.9 billion on its Condensed Consolidated Balance Sheets, with no material impact to its Condensed Consoli... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 631 | However, the ultimate impact of adopting ASU 2016-02 will depend on the Company’s lease portfolio as of the adoption date. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 632 | Financial Instruments
In January 2016, the FASB issued ASU No. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 633 | 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 634 | The Company will adopt ASU 2016-01 in its first quarter of 2019 utilizing the modified retrospective transition method. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 635 | Based on the composition of the Company’s investment portfolio, the adoption of ASU 2016-01 is not expected to have a material impact on its consolidated financial statements. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 636 | In June 2016, the FASB issued ASU No. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 637 | 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit losses of certain financial instruments. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 638 | The Company will adopt ASU 2016-13 in its first quarter of 2021 utilizing the modified retrospective transition method. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 639 | Based on the composition of the Company’s investment portfolio, current market conditions, and historical credit loss activity, the adoption of ASU 2016-13 is not expected to have a material impact on its consolidated financial statements. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 640 | Revenue Recognition
In May 2014, the FASB issued ASU No. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 641 | 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 642 | ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 643 | Subsequently, the FASB issued additional ASUs to clarify the guidance in ASU 2014-09. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 644 | ASU 2014-09 and its related ASUs are collectively referred to herein as the “new revenue standard.” The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 645 | The Company will adopt the new revenue standard in its first quarter of 2019 utilizing the full retrospective transition method. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 646 | The new revenue standard will not have a material impact on the amount and timing of revenue recognized in the Company’s consolidated financial statements. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 647 | Apple Inc. | 2018 Form 10-K | 29
Liquidity and Capital Resources
The following table presents selected financial information and statistics as of and for the years ended September 29, 2018, September 30, 2017 and September 24, 2016 (in millions):
(1)
As of September 29, 2018, total cash, cash equivalents and marketable... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 648 | (2)
Refer to Note 1, “Summary of Significant Accounting Polices” in the Notes to Consolidated Financial Statements in Part II, Item 8 of this Form 10-K for more information on the prior period reclassification related to the Company’s adoption of ASU 2016-09. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 649 | The Company believes its existing balances of cash, cash equivalents and marketable securities will be sufficient to satisfy its working capital needs, capital asset purchases, outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 650 | The Company currently anticipates the cash used for future dividends, the share repurchase program and debt repayments will come from its current cash and cash generated from ongoing operating activities. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 651 | In connection with the State Aid Decision, as of September 29, 2018, the entire recovery amount of €13.1 billion plus interest of €1.2 billion was funded into escrow, where it will remain restricted from general use pending conclusion of all appeals. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 652 | The Company’s marketable securities investment portfolio is primarily invested in highly rated securities, with the primary objective of minimizing the potential risk of principal loss. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 653 | The Company’s investment policy generally requires securities to be investment grade and limits the amount of credit exposure to any one issuer. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 654 | During 2018, cash generated by operating activities of $77.4 billion was a result of $59.5 billion of net income and an increase in the net change in operating assets and liabilities of $34.7 billion, partially offset by non-cash adjustments to net income of $16.8 billion. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 655 | Cash generated by investing activities of $16.1 billion during 2018 consisted primarily of proceeds from maturities and sales of marketable securities, net of purchases, of $32.4 billion, partially offset by cash used to acquire property, plant and equipment of $13.3 billion. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 656 | Cash used in financing activities of $87.9 billion during 2018 consisted primarily of cash used to repurchase common stock of $72.7 billion, cash used to pay dividends and dividend equivalents of $13.7 billion and cash used to repay term debt of $6.5 billion, partially offset by proceeds from the issuance of term debt,... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 657 | During 2017, cash generated by operating activities of $64.2 billion was a result of $48.4 billion of net income, non-cash adjustments to net income of $20.8 billion and a decrease in the net change in operating assets and liabilities of $4.9 billion, which included a one-time payment of $1.9 billion related to a multi... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 658 | Cash used in investing activities of $46.4 billion during 2017 consisted primarily of cash used for purchases of marketable securities, net of sales and maturities, of $33.1 billion and cash used to acquire property, plant and equipment of $12.5 billion. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 659 | Cash used in financing activities of $18.0 billion during 2017 consisted primarily of cash used to repurchase common stock of $32.9 billion, cash used to pay dividends and dividend equivalents of $12.8 billion and cash used to repay term debt of $3.5 billion, partially offset by proceeds from the issuance of term debt,... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 660 | Capital Assets
The Company’s capital expenditures were $16.7 billion during 2018. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 661 | The Company anticipates utilizing approximately $14.0 billion for capital expenditures during 2019, which includes product tooling and manufacturing process equipment; data centers; corporate facilities and infrastructure, including information systems hardware, software and enhancements; and retail store facilities. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 662 | Debt
The Company issues unsecured short-term promissory notes (“Commercial Paper”) pursuant to a commercial paper program. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 663 | The Company uses the net proceeds from the commercial paper program for general corporate purposes, including dividends and share repurchases. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 664 | As of September 29, 2018, the Company had $12.0 billion of Commercial Paper outstanding, with a weighted-average interest rate of 2.18% and maturities generally less than nine months. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 665 | Apple Inc. | 2018 Form 10-K | 30
As of September 29, 2018, the Company had outstanding floating- and fixed-rate notes with varying maturities for an aggregate principal amount of $104.2 billion (collectively the “Notes”). | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 666 | During 2018, the Company issued $7.0 billion and repaid $6.5 billion of Notes. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 667 | The Company has entered, and in the future may enter, into interest rate swaps to manage interest rate risk on the Notes. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 668 | In addition, the Company has entered, and in the future may enter, into foreign currency swaps to manage foreign currency risk on the Notes. | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 669 | Further information regarding the Company’s debt issuances and related hedging activity can be found in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 2, “Financial Instruments” and Note 5, “Debt.”
Capital Return Program
During 2018, the Company repurchased 405.5 million sha... | 0000320193-18-000145/full-submission.txt |
0000320193 | 20181105 | 10-K | 670 | Of the $73.1 billion, $44.0 billion was repurchased under the Company’s previous share repurchase program of up to $210 billion, thereby completing that program. | 0000320193-18-000145/full-submission.txt |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.