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0000320193 | 20101027 | 10-K | 974 | Beginning in the third quarter of 2010 in conjunction with the announcement of iOS 4, the Company’s ESPs for the embedded software upgrade rights included with iPhone, iPad and iPod touch reflect the positive financial impact expected by the Company as a result of its introduction of a mobile advertising platform for t... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 975 | iOS 4 supports iAd, the Company’s new mobile advertising platform, which enables applications on iPhone, iPad and iPod touch to embed media-rich advertisements. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 976 | For all periods presented, the Company’s ESP for the embedded software upgrade right included with each Apple TV sold is $10. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 977 | The Company’s ESP for the software upgrade right included with each iPhone sold through the
Company’s second quarter of 2010 was $25. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 978 | Beginning in April 2010 in conjunction with the Company’s announcement of iOS 4 for iPhone, the Company lowered its ESP for the software upgrade right included with each iPhone to $10. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 979 | Beginning with initial sales of iPad in April 2010, the Company has also indicated it may from time-to-time provide future unspecified software upgrades and features free of charge to iPad customers. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 980 | The Company’s ESP for the embedded software upgrade right included with the sale of each iPad is $10. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 981 | In June 2010, the Company announced that certain previously sold iPod touch models would receive an upgrade to iOS 4 free of charge and indicated iPod touch devices running on iOS 4 may from time-to-time receive future unspecified software upgrades and features free of charge. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 982 | The Company’s ESP for the embedded software upgrade right included with each iPod touch sold beginning in June 2010 is $5. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 983 | The Company accounts for multiple element arrangements that consist only of software or software-related products, including the sale of upgrades to previously sold software, in accordance with industry specific accounting guidance for software and software-related transactions. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 984 | For such transactions, revenue on arrangements that include multiple elements is allocated to each element based on the relative fair value of each element, and fair value is determined by VSOE. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 985 | If the Company cannot objectively determine the fair value of any undelivered element included in such multiple-element arrangements, the Company defers revenue until all elements are delivered and services have been performed, or until fair value can objectively be determined for any remaining undelivered elements. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 986 | When the fair value of a delivered element has not been established, but fair value exists for the undelivered elements, the Company uses the residual method to recognize revenue. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 987 | Under the residual method, the fair value of the undelivered elements is deferred and the remaining portion of the arrangement fee is allocated to the delivered elements and is recognized as revenue. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 988 | Except as described for iPhone, iPad, iPod touch and Apple TV, the Company generally does not offer unspecified upgrade rights to its customers in connection with software sales or the sale of AppleCare extended warranty and support contracts. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 989 | A limited number of the Company’s software products are available with maintenance agreements that grant customers rights to unspecified future upgrades over the maintenance term on a when and if available basis. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 990 | Revenue associated with such maintenance is recognized ratably over the maintenance term. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 991 | Shipping Costs
For all periods presented, amounts billed to customers related to shipping and handling are classified as revenue, and the Company’s shipping and handling costs are included in cost of sales. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 992 | Warranty Expense
The Company generally provides for the estimated cost of hardware and software warranties at the time the related revenue is recognized. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 993 | The Company assesses the adequacy of its pre-existing warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 994 | Software Development Costs
Research and development costs are expensed as incurred. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 995 | Development costs of computer software to be sold, leased, or otherwise marketed are subject to capitalization beginning when a product’s technological feasibility has been established and ending when a product is available for general release to customers. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 996 | In most instances, the Company’s products are released soon after technological feasibility has been established. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 997 | Therefore, costs incurred subsequent to achievement of technological feasibility are usually not significant, and generally most software development costs have been expensed as incurred. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 998 | The Company did not capitalize any software development costs during 2010. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 999 | In 2009 and 2008, the Company capitalized $71 million and $11 million, respectively, of costs associated with the development of Mac OS X
Version 10.6 Snow Leopard (“Mac OS X Snow Leopard”), which was released during the fourth quarter of 2009. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,000 | The capitalized costs are being amortized to cost of sales on a straight-line basis over a three year estimated useful life of the underlying technology. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,001 | Total amortization related to capitalized software development costs was $48 million, $25 million and $27 million in 2010, 2009 and 2008, respectively. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,002 | Advertising Costs
Advertising costs are expensed as incurred. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,003 | Advertising expense was $691 million, $501 million and $486 million for 2010, 2009 and 2008, respectively. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,004 | Stock-Based Compensation
The Company accounts for stock-based payment transactions in which the Company receives employee services in exchange for (a) equity instruments of the enterprise or (b) liabilities that are based on the fair value of the enterprise’s equity instruments or that may be settled by the issuance of... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,005 | Stock-based compensation cost for restricted stock units (“RSUs”) is measured based on the closing fair market value of the Company’s common stock on the date of grant. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,006 | Stock-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Black-Scholes-Merton (“BSM”) option-pricing model. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,007 | The Company recognizes stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,008 | The Company will recognize a benefit from stock-based compensation in equity if an incremental tax benefit is realized by following the ordering provisions of the tax law. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,009 | In addition, the Company accounts for the indirect effects of stock-based compensation on the research tax credit, the foreign tax credit and the domestic manufacturing deduction through the income statement. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,010 | Further information regarding stock-based compensation can be found in Note 7, “Shareholders’ Equity and Stock-Based Compensation” of this Form 10-K.
Income Taxes
The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expec... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,011 | Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,012 | The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,013 | The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,014 | The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,015 | See Note 6, “Income Taxes” of this Form 10-K for additional information. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,016 | Earnings Per Common Share
Basic earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,017 | Diluted earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive secur... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,018 | Potentially dilutive securities include outstanding stock options, shares to be purchased under the employee stock purchase plan and unvested RSUs. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,019 | The dilutive effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury stock method. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,020 | Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,021 | The following table sets forth the computation of basic and diluted earnings per common share for the three years ended September 25, 2010 (in thousands, except net income in millions and per share amounts):
Potentially dilutive securities representing 1.6 million, 12.6 million and 10.3 million shares of common stock f... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,022 | Financial Instruments
Cash Equivalents and Marketable Securities
All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,023 | The Company’s debt and marketable equity securities have been classified and accounted for as available-for-sale. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,024 | Management determines the appropriate classification of its investments in debt securities at the time of purchase and reevaluates the available-for-sale designations as of each balance sheet date. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,025 | The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,026 | Marketable securities with maturities of less than 12 months are classified as short-term and marketable securities with maturities greater than 12 months are classified as long-term. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,027 | These securities are carried at fair value, with the unrealized gains and losses, net of taxes, reported as a component of shareholders’ equity. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,028 | The cost of securities sold is based upon the specific identification method. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,029 | Derivative Financial Instruments
The Company accounts for its derivative instruments as either assets or liabilities and carries them at fair value. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,030 | Derivatives that are not defined as hedges must be adjusted to fair value through earnings. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,031 | For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges, the effective portion of the gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income in shareholders’ equity and reclassified in... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,032 | The ineffective portion of the gain or loss on the derivative instrument is recognized in current earnings. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,033 | To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,034 | For options designated as cash flow hedges, changes in the time value are excluded from the assessment of hedge effectiveness and are recognized in earnings. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,035 | For derivative instruments that hedge the exposure to changes in the fair value of an asset or a liability and that are designated as fair value hedges, the net gain or loss on the derivative instrument as well as the offsetting gain or loss on the hedged item attributable to
the hedged risk are recognized in earnings ... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,036 | The Company did not have a net gain or loss on these derivative instruments during 2010, 2009 and 2008. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,037 | The net gain or loss on the effective portion of a derivative instrument that is designated as an economic hedge of the foreign currency translation exposure of the net investment in a foreign operation is reported in the same manner as a foreign currency translation adjustment. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,038 | For forward exchange contracts designated as net investment hedges, the Company excludes changes in fair value relating to changes in the forward carry component from its definition of effectiveness. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,039 | Accordingly, any gains or losses related to this component are recognized in current earnings. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,040 | Allowance for Doubtful Accounts
The Company records its allowance for doubtful accounts based upon its assessment of various factors. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,041 | The Company considers historical experience, the age of the accounts receivable balances, credit quality of the Company’s customers, current economic conditions, and other factors that may affect customers’ ability to pay. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,042 | Inventories
Inventories are stated at the lower of cost, computed using the first-in, first-out method, or market. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,043 | If the cost of the inventories exceeds their market value, provisions are made currently for the difference between the cost and the market value. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,044 | The Company’s inventories consist primarily of components and finished goods for all periods presented. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,045 | Property, Plant and Equipment
Property, plant and equipment are stated at cost. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,046 | Depreciation is computed by use of the straight-line method over the estimated useful lives of the assets, which for buildings is the lesser of 30 years or the remaining life of the underlying building, up to five years for equipment, and the shorter of lease terms or ten years for leasehold improvements. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,047 | The Company capitalizes eligible costs to acquire or develop internal-use software that are incurred subsequent to the preliminary project stage. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,048 | Capitalized costs related to internal-use software are amortized using the straight-line method over the estimated useful lives of the assets, which range from three to five years. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,049 | Depreciation and amortization expense on property and equipment was $815 million, $606 million and $387 million during 2010, 2009 and 2008, respectively. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,050 | Long-Lived Assets Including Goodwill and Other Acquired Intangible Assets
The Company reviews property, plant and equipment and certain identifiable intangibles, excluding goodwill, for impairment. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,051 | Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,052 | Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,053 | If property, plant and equipment and certain identifiable intangibles are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,054 | The Company did not record any significant impairments during 2010, 2009 and 2008. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,055 | The Company does not amortize goodwill and intangible assets with indefinite useful lives, rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,056 | The Company performs its goodwill and intangible asset impairment tests on or about August 31 of each year. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,057 | The Company did not recognize any goodwill or intangible asset impairment charges in 2010, 2009 and 2008. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,058 | The Company established reporting units based on its current reporting structure. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,059 | For purposes of testing goodwill for impairment, goodwill has been allocated to these reporting units to the extent it relates to each reporting unit. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,060 | The Company amortizes its intangible assets with definite lives over their estimated useful lives and reviews these assets for impairment. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,061 | The Company is currently amortizing its acquired intangible assets with definite lives over periods ranging from three to ten years. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,062 | Fair Value Measurements
During 2009, the Company adopted the FASB’s new accounting standard on fair value measurements and disclosures for all financial assets and liabilities. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,063 | The new accounting principles define fair value, provide a framework for measuring fair value, and expand the disclosures required for fair value measurements. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,064 | During the first quarter of 2010, the Company adopted the new fair value accounting principles for all non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis, which did not have a material effect on the Company... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,065 | The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,066 | The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,067 | When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricin... | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,068 | In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,069 | The Company has not elected the fair value option for any eligible financial instruments. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,070 | Foreign Currency Translation and Remeasurement
The Company translates the assets and liabilities of its non-U.S. dollar functional currency subsidiaries into U.S. dollars using exchange rates in effect at the end of each period. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,071 | Revenue and expenses for these subsidiaries are translated using rates that approximate those in effect during the period. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,072 | Gains and losses from these translations are credited or charged to foreign currency translation included in accumulated other comprehensive income in shareholders’ equity. | 0001193125-10-238044/full-submission.txt |
0000320193 | 20101027 | 10-K | 1,073 | The Company’s subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period, and inventories, property, and nonmonetary assets and liabilities at historical rates. | 0001193125-10-238044/full-submission.txt |
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