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 | 20201030 | 10-K | 507 | The Company may enter into agreements to sell certain of its marketable securities with a promise to repurchase the securities at a specified time and amount as an additional short-term liquidity arrangement. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 508 | Apple Inc. | 2020 Form 10-K | 25
As of September 26, 2020, the Company had outstanding floating- and fixed-rate notes with varying maturities for an aggregate principal amount of $106.1 billion (collectively the “Notes”). | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 509 | During 2020, the Company issued $16.1 billion and repaid or redeemed $12.6 billion of Notes. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 510 | The Company has entered, and in the future may enter, into interest rate swaps to manage interest rate risk on the Notes. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 511 | In addition, the Company has entered, and in the future may enter, into foreign currency swaps to manage foreign currency risk on the Notes. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 512 | 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 3, “Financial Instruments” and Note 6, “Debt.”
Capital Return Program
As of September 26, 2020, the Company was authorized t... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 513 | During 2020, the Company repurchased 917 million shares of its common stock for $72.5 billion, including 141 million shares delivered under a $10.0 billion November 2019 ASR and 64 million shares delivered under a $6.0 billion May 2020 ASR. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 514 | The Company’s share repurchase program does not obligate it to acquire any specific number of shares. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 515 | Under this 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. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 516 | As of September 26, 2020, the Company’s quarterly cash dividend was $0.205 per share. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 517 | The Company intends to increase its dividend on an annual basis, subject to declaration by the Board of Directors. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 518 | Contractual Obligations
The following table presents certain payments due by the Company as of September 26, 2020, and includes amounts already recorded on the Consolidated Balance Sheet, except for manufacturing purchase obligations, other purchase obligations and certain lease obligations (in millions):
(1)Represents... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 519 | Leases
The Company has lease arrangements for certain equipment and facilities, including retail, corporate, manufacturing and data center space. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 520 | The Company’s retail store and other facility leases typically have original terms not exceeding 10 years and generally contain multi-year renewal options. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 521 | The above contractual obligations table includes future payments under leases that had commenced as of September 26, 2020, and were therefore recorded on the Company’s Consolidated Balance Sheet, as well as leases that had been signed but not yet commenced as of September 26, 2020. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 522 | Further information regarding the Company’s leases can be found in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 12, “Leases.”
Manufacturing Purchase Obligations
The Company utilizes several outsourcing partners to manufacture sub-assemblies for the Company’s products and t... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 523 | These outsourcing partners acquire components and build product based on demand information supplied by the Company, which typically covers periods up to 150 days. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 524 | The Company also obtains individual components for its products from a wide variety of individual suppliers. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 525 | Other Purchase Obligations
The Company’s other purchase obligations consist of noncancelable obligations to acquire capital assets, including product tooling and manufacturing process equipment, and noncancelable obligations related to advertising, licensing, R&D, Internet and telecommunications services, content creat... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 526 | Apple Inc. | 2020 Form 10-K | 26
Deemed Repatriation Tax Payable
As of September 26, 2020, a significant portion of the other non-current liabilities in the Company’s Consolidated Balance Sheet consisted of the deemed repatriation tax payable imposed by the Act. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 527 | The Company plans to pay the deemed repatriation tax payable in installments in accordance with the Act. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 528 | Other Non-Current Liabilities
The Company’s remaining other non-current liabilities primarily consist of items for which the Company is unable to make a reasonably reliable estimate of the timing or amount of payments; therefore, such amounts are not included in the above contractual obligations table. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 529 | Critical Accounting Policies and Estimates
The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles (“GAAP”) and the Company’s discussion and analysis of its financial condition and operating results require the Company’s management to make judgmen... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 530 | Note 1, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in Part II, Item 8 of this Form 10-K describes the significant accounting policies and methods used in the preparation of the Company’s consolidated financial statements. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 531 | Management bases its estimates on historical experience and on various other assumptions it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 532 | Actual results may differ from these estimates, and such differences may be material. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 533 | Management believes the Company’s critical accounting policies and estimates are those related to revenue recognition, valuation of manufacturing-related assets and estimation of inventory purchase commitment cancellation fees, warranty costs, income taxes, and legal and other contingencies. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 534 | Management considers these policies critical because they are both important to the portrayal of the Company’s financial condition and operating results, and they require management to make judgments and estimates about inherently uncertain matters. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 535 | The Company’s senior management has reviewed these critical accounting policies and related disclosures with the Audit and Finance Committee of the Company’s Board of Directors. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 536 | Revenue Recognition
The Company has identified up to three performance obligations regularly included in arrangements involving the sale of iPhone, Mac, iPad and certain other products. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 537 | The first performance obligation, which represents the substantial portion of the allocated sales price, is the hardware and bundled software delivered at the time of sale. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 538 | The second performance obligation is the right to receive certain product-related bundled services, which include iCloud, Siri and Maps. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 539 | The third performance obligation is the right to receive, on a when-and-if-available basis, future unspecified software upgrades relating to the software bundled with each device. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 540 | The Company allocates revenue and any related discounts to these performance obligations based on their relative stand-alone selling prices (“SSPs”). | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 541 | Because the Company lacks observable prices for the undelivered performance obligations, the allocation of revenue is based on the Company’s estimated SSPs. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 542 | Revenue allocated to the product-related bundled services and unspecified software upgrade rights is deferred and recognized on a straight-line basis over the estimated period they are expected to be provided. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 543 | The Company’s process for determining estimated SSPs involves management’s judgment and considers multiple factors that may vary over time depending upon the unique facts and circumstances related to each deliverable. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 544 | Should future facts and circumstances change, the Company’s SSPs and the future rate of related amortization for product-related bundled services and unspecified software upgrade rights related to future sales of these devices could change. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 545 | Factors subject to change include the nature of the product-related bundled services and unspecified software upgrade rights offered, their estimated value and the estimated period they are expected to be provided. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 546 | Valuation of Manufacturing-Related Assets and Estimation of Inventory Purchase Commitment Cancellation Fees
The Company invests in manufacturing-related assets, including capital assets held at its suppliers’ facilities and prepayments provided to certain of its suppliers associated with long-term agreements to secure ... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 547 | The Company also accrues estimated purchase commitment cancellation fees related to inventory orders that have been canceled or are expected to be canceled. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 548 | The Company’s estimates of future product development plans and demand for its products are key inputs in determining the recoverability of manufacturing-related assets and assessing the adequacy of any purchase commitment cancellation fee accruals. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 549 | If there is an abrupt and substantial decline in estimated demand for one or more of the Company’s products, a change in the Company’s product development plans, or an unanticipated change in technological requirements for any of the Company’s products, the Company may be required to record write-downs or impairments o... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 550 | Apple Inc. | 2020 Form 10-K | 27
Warranty Costs
The Company offers limited warranties on its new and certified refurbished hardware products and on parts used to repair its hardware products, and customers may purchase extended service coverage, where available, on many of the Company’s hardware products. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 551 | The Company accrues the estimated cost of warranties in the period the related revenue is recognized based on historical and projected warranty claim rates, historical and projected cost per claim and knowledge of specific product failures outside the Company’s typical experience. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 552 | If actual product failure rates or repair costs differ from estimates, revisions to the estimated warranty liabilities would be required. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 553 | Income Taxes
The Company recognizes tax benefits from uncertain tax positions if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 554 | The tax benefits recognized in the financial statements from such positions are measured based on the largest benefit that has a greater-than-50% likelihood of being realized upon ultimate settlement. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 555 | The calculation of tax liabilities involves significant judgment in estimating the impact of uncertainties in the application of GAAP and complex tax laws. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 556 | Resolution of these uncertainties in a manner inconsistent with management’s expectations could have a material impact on the Company’s financial condition and operating results. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 557 | Legal and Other Contingencies
As discussed in Part I, Item 3 of this Form 10-K under the heading “Legal Proceedings” and in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 10, “Commitments and Contingencies,” the Company is subject to various legal proceedings and claims that... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 558 | The Company records a liability when it is probable that a loss has been incurred and the amount is reasonably estimable, the determination of which requires significant judgment. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 559 | Except as described in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 10, “Commitments and Contingencies” under the heading “Contingencies,” in the opinion of management, there was not at least a reasonable possibility the Company may have incurred a material loss, or a mate... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 560 | The outcome of litigation is inherently uncertain. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 561 | If one or more legal matters were resolved against the Company in a reporting period for amounts above management’s expectations, the Company’s financial condition and operating results for that reporting period could be materially adversely affected. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 562 | Item 7A. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 563 | Quantitative and Qualitative Disclosures About Market Risk
Interest Rate and Foreign Currency Risk Management
The Company regularly reviews its foreign exchange forward and option positions and interest rate swaps, both on a stand-alone basis and in conjunction with its underlying foreign currency and interest rate exp... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 564 | Given the effective horizons of the Company’s risk management activities and the anticipatory nature of the exposures, there can be no assurance these positions will offset more than a portion of the financial impact resulting from movements in either foreign exchange or interest rates. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 565 | Further, the recognition of the gains and losses related to these instruments may not coincide with the timing of gains and losses related to the underlying economic exposures and, therefore, may adversely affect the Company’s financial condition and operating results. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 566 | Interest Rate Risk
The Company’s exposure to changes in interest rates relates primarily to the Company’s investment portfolio and outstanding debt. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 567 | While the Company is exposed to global interest rate fluctuations, the Company’s interest income and expense are most sensitive to fluctuations in U.S. interest rates. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 568 | Changes in U.S. interest rates affect the interest earned on the Company’s cash, cash equivalents and marketable securities and the fair value of those securities, as well as costs associated with hedging and interest paid on the Company’s debt. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 569 | The Company’s investment policy and strategy are focused on the preservation of capital and supporting the Company’s liquidity requirements. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 570 | The Company uses a combination of internal and external management to execute its investment strategy and achieve its investment objectives. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 571 | The Company typically invests in highly rated securities, with the primary objective of minimizing the potential risk of principal loss. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 572 | The Company’s investment policy generally requires securities to be investment grade and limits the amount of credit exposure to any one issuer. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 573 | To provide a meaningful assessment of the interest rate risk associated with the Company’s investment portfolio, the Company performed a sensitivity analysis to determine the impact a change in interest rates would have on the value of the investment portfolio assuming a 100 basis point parallel shift in the yield curv... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 574 | Based on investment positions as of September 26, 2020 and September 28, 2019, a hypothetical 100 basis point increase in interest rates across all maturities would result in a $3.1 billion and $2.8 billion incremental decline in the fair market value of the portfolio, respectively. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 575 | Such losses would only be realized if the Company sold the investments prior to maturity. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 576 | Apple Inc. | 2020 Form 10-K | 28
As of September 26, 2020 and September 28, 2019, the Company had outstanding floating- and fixed-rate notes with varying maturities for an aggregate carrying amount of $107.4 billion and $102.1 billion, respectively. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 577 | The Company has entered, and in the future may enter, into interest rate swaps to manage interest rate risk on its outstanding term debt. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 578 | Interest rate swaps allow the Company to effectively convert fixed-rate payments into floating-rate payments or floating-rate payments into fixed-rate payments. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 579 | Gains and losses on term debt are generally offset by the corresponding losses and gains on the related hedging instrument. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 580 | A 100 basis point increase in market interest rates would cause interest expense on the Company’s debt as of September 26, 2020 and September 28, 2019 to increase by $218 million and $325 million on an annualized basis, respectively. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 581 | Foreign Currency Risk
In general, the Company is a net receiver of currencies other than the U.S. dollar. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 582 | Accordingly, changes in exchange rates, and in particular a strengthening of the U.S. dollar, will negatively affect the Company’s net sales and gross margins as expressed in U.S. dollars. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 583 | There is a risk that the Company will have to adjust local currency pricing due to competitive pressures when there has been significant volatility in foreign currency exchange rates. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 584 | The Company may enter into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks associated with certain existing assets and liabilities, certain firmly committed transactions, forecasted future cash flows and net investments in foreign subsidiaries. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 585 | In addition, the Company has entered, and in the future may enter, into foreign currency contracts to partially offset the foreign currency exchange gains and losses on its foreign currency-denominated debt issuances. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 586 | The Company generally hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases, typically for up to 12 months. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 587 | However, the Company may choose not to hedge certain foreign exchange exposures for a variety of reasons including, but not limited to, accounting considerations or the prohibitive economic cost of hedging particular exposures. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 588 | To provide an assessment of the foreign currency risk associated with certain of the Company’s foreign currency derivative positions, the Company performed a sensitivity analysis using a value-at-risk (“VAR”) model to assess the potential impact of fluctuations in exchange rates. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 589 | The VAR model consisted of using a Monte Carlo simulation to generate thousands of random market price paths assuming normal market conditions. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 590 | The VAR is the maximum expected loss in fair value, for a given confidence interval, to the Company’s foreign currency derivative positions due to adverse movements in rates. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 591 | The VAR model is not intended to represent actual losses but is used as a risk estimation and management tool. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 592 | Forecasted transactions, firm commitments and assets and liabilities denominated in foreign currencies were excluded from the model. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 593 | Based on the results of the model, the Company estimates with 95% confidence, a maximum one-day loss in fair value of $551 million as of September 26, 2020, compared to a maximum one-day loss in fair value of $452 million as of September 28, 2019. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 594 | Because the Company uses foreign currency instruments for hedging purposes, the losses in fair value incurred on those instruments are generally offset by increases in the fair value of the underlying exposures. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 595 | Actual future gains and losses associated with the Company’s investment portfolio, debt and derivative positions may differ materially from the sensitivity analyses performed as of September 26, 2020 due to the inherent limitations associated with predicting the timing and amount of changes in interest rates, foreign c... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 596 | Apple Inc. | 2020 Form 10-K | 29
Item 8. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 597 | Financial Statements and Supplementary Data
All financial statement schedules have been omitted, since the required information is not applicable or is not present in amounts sufficient to require submission of the schedule, or because the information required is included in the consolidated financial statements and ac... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 598 | Apple Inc. | 2020 Form 10-K | 30
Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
See accompanying Notes to Consolidated Financial Statements. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 599 | Apple Inc. | 2020 Form 10-K | 31
Apple Inc.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)
See accompanying Notes to Consolidated Financial Statements. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 600 | Apple Inc. | 2020 Form 10-K | 32
Apple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)
See accompanying Notes to Consolidated Financial Statements. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 601 | Apple Inc. | 2020 Form 10-K | 33
Apple Inc.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(In millions, except per share amounts)
See accompanying Notes to Consolidated Financial Statements. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 602 | Apple Inc. | 2020 Form 10-K | 34
Apple Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
See accompanying Notes to Consolidated Financial Statements. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 603 | Apple Inc. | 2020 Form 10-K | 35
Apple Inc.
Notes to Consolidated Financial Statements
Note 1 - Summary of Significant Accounting Policies
Basis of Presentation and Preparation
The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively “Apple” or the “Compan... | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 604 | Intercompany accounts and transactions have been eliminated. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 605 | In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. | 0000320193-20-000096/full-submission.txt |
0000320193 | 20201030 | 10-K | 606 | The preparation of these consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. | 0000320193-20-000096/full-submission.txt |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.