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0000320193 | 20210728 | 10-Q | 243 | Operating income for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 244 | Advertising expenses are generally included in the geographic segment in which the expenditures are incurred. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 245 | Operating income for each segment excludes other income and expense and certain expenses managed outside the reportable segments. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 246 | Costs excluded from segment operating income include various corporate expenses such as research and development, corporate marketing expenses, certain share-based compensation expenses, income taxes, various nonrecurring charges and other separately managed general and administrative costs. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 247 | The Company does not include intercompany transfers between segments for management reporting purposes. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 248 | The following table shows information by reportable segment for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 (in millions):
Apple Inc. | Q3 2021 Form 10-Q | 21
A reconciliation of the Company’s segment operating income to the Condensed Consolidated Statements of Operations for the three- and ... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 249 | Management’s Discussion and Analysis of Financial Condition and Results of Operations
This section and other parts of this Quarterly Report on Form 10-Q (“Form 10-Q”) contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 250 | Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 251 | For example, statements in this Form 10-Q regarding the potential future impact of the COVID-19 pandemic on the Company’s business and results of operations are forward-looking statements. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 252 | Forward-looking statements can also be identified by words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “could,” “can,” “may,” and similar terms. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 253 | Forward-looking statements are not guarantees of future performance and the Company’s actual results may differ significantly from the results discussed in the forward-looking statements. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 254 | Factors that might cause such differences include, but are not limited to, those discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended September 26, 2020 (the “2020 Form 10-K”) under the heading “Risk Factors.” The Company assumes no obligation to revise or update any forwar... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 255 | Unless otherwise stated, all information presented herein is based on the Company’s fiscal calendar, and references to particular years, quarters, months or periods refer to the Company’s fiscal years ended in September and the associated quarters, months and periods of those fiscal years. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 256 | Each of the terms the “Company” and “Apple” as used herein refers collectively to Apple Inc. and its wholly owned subsidiaries, unless otherwise stated. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 257 | The following discussion should be read in conjunction with the 2020 Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and the condensed consolidated financial statements and accompanying notes included in Part I, Item 1 of this Form 10-Q. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 258 | Available Information
The Company periodically provides certain information for investors on its corporate website, www.apple.com, and its investor relations website, investor.apple.com. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 259 | This includes press releases and other information about financial performance, information on corporate governance and details related to the Company’s annual meeting of shareholders. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 260 | The information contained on the websites referenced in this Form 10-Q is not incorporated by reference into this filing. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 261 | Further, the Company’s references to website URLs are intended to be inactive textual references only. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 262 | Quarterly Highlights
Business Seasonality and Product Introductions
The Company has historically experienced higher net sales in its first quarter compared to other quarters in its fiscal year due in part to seasonal holiday demand. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 263 | Additionally, new product and service introductions can significantly impact net sales, cost of sales and operating expenses. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 264 | The timing of product introductions can also impact the Company’s net sales to its indirect distribution channels as these channels are filled with new inventory following a product launch, and channel inventory of an older product often declines as the launch of a newer product approaches. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 265 | Net sales can also be affected when consumers and distributors anticipate a product introduction. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 266 | COVID-19 Update
The COVID-19 pandemic has prompted governments and businesses to take unprecedented measures, such as restrictions on travel and business operations, temporary closures of businesses, and quarantines and shelter-in-place orders. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 267 | The COVID-19 pandemic has significantly curtailed global economic activity and caused significant volatility and disruption in global financial markets. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 268 | The COVID-19 pandemic and the measures taken by many countries in response have affected and could in the future materially impact the Company’s business, results of operations, financial condition and stock price. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 269 | During the third quarter of 2021, aspects of the Company’s business continued to be affected by the COVID-19 pandemic, with many of the Company’s retail stores, as well as channel partner points of sale, temporarily closed at various times, and a significant number of the Company’s employees working remotely. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 270 | The Company has reopened substantially all of its offices and retail stores, subject to operating restrictions to protect public health and the health and safety of employees and customers, and it continues to work on safely reopening the remainder of its offices and retail stores, subject to local rules and regulation... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 271 | The extent of the continuing impact of the COVID-19 pandemic on the Company’s operational and financial performance is uncertain and will depend on many factors outside the Company’s control, including, without limitation, the timing, extent, trajectory and duration of the pandemic; the availability, distribution and e... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 272 | Refer to Part I, Item 1A of the 2020 Form 10-K under the heading “Risk Factors,” for more information. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 273 | Apple Inc. | Q3 2021 Form 10-Q | 23
The Company believes its existing balances of cash, cash equivalents and marketable securities, along with commercial paper and other short-term liquidity arrangements, will be sufficient to satisfy its working capital needs, capital asset purchases, dividends, share repurchases, deb... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 274 | Third Quarter Fiscal 2021 Highlights
Total net sales increased 36% or $21.7 billion during the third quarter of 2021 compared to the same quarter in 2020, driven by growth in all Products and Services categories. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 275 | Year-over-year net sales during the third quarter of 2021 also grew in each of the Company’s reportable segments. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 276 | During the third quarter of 2021, the Company released the following new products and services:
•iMac®, powered by the Apple M1 chip;
•iPad Pro®, powered by the Apple M1 chip;
•Apple TV 4K®, with a redesigned Siri Remote®;
•AirTag™, an accessory that helps keep track of items using the Find My™ network; and
•Apple Podc... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 277 | The Company also announced iOS 15, macOS® Monterey, iPadOS® 15 and watchOS® 8, updates to its operating systems that are expected to be available in the fall of 2021. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 278 | The Company repurchased $22.5 billion of its common stock and paid dividends and dividend equivalents of $3.8 billion during the third quarter of 2021. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 279 | Products and Services Performance
The following table shows net sales by category for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 (dollars in millions):
(1)Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales pri... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 280 | (2)Wearables, Home and Accessories net sales include sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and Apple-branded and third-party accessories. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 281 | (3)Services net sales include sales from the Company’s advertising, AppleCare, digital content and other services. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 282 | Services net sales also include amortization of the deferred value of Maps, Siri, and free iCloud storage and Apple TV+ services, which are bundled in the sales price of certain products. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 283 | iPhone
iPhone net sales increased during the third quarter and first nine months of 2021 compared to the same periods in 2020 due primarily to higher net sales from the Company’s new iPhone models launched in the first quarter of 2021. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 284 | Mac
Mac net sales increased during the third quarter of 2021 compared to the third quarter of 2020 due primarily to higher net sales of MacBook Air® and iMac. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 285 | Year-over-year Mac net sales increased during the first nine months of 2021 due primarily to higher net sales of MacBook Air and MacBook Pro®. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 286 | Apple Inc. | Q3 2021 Form 10-Q | 24
iPad
iPad net sales increased during the third quarter of 2021 compared to the third quarter of 2020 due to higher net sales of iPad Air®. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 287 | Year-over-year iPad net sales increased during the first nine months of 2021 due to higher net sales of iPad Air, iPad Pro and the 10-inch version of iPad. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 288 | Wearables, Home and Accessories
Wearables, Home and Accessories net sales increased during the third quarter and first nine months of 2021 compared to the same periods in 2020 due primarily to higher net sales of Apple Watch and accessories. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 289 | Services
Services net sales increased during the third quarter of 2021 compared to the third quarter of 2020 due primarily to higher net sales from advertising, the App Store and AppleCare. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 290 | Year-over-year Services net sales increased during the first nine months of 2021 due primarily to higher net sales from advertising, the App Store and cloud services. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 291 | Segment Operating Performance
The Company manages its business primarily on a geographic basis. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 292 | The Company’s reportable segments consist of the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 293 | Americas includes both North and South America. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 294 | Europe includes European countries, as well as India, the Middle East and Africa. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 295 | Greater China includes China mainland, Hong Kong and Taiwan. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 296 | Rest of Asia Pacific includes Australia and those Asian countries not included in the Company’s other reportable segments. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 297 | Although the reportable segments provide similar hardware and software products and similar services, each one is managed separately to better align with the location of the Company’s customers and distribution partners and the unique market dynamics of each geographic region. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 298 | Further information regarding the Company’s reportable segments can be found in Part I, Item 1 of this Form 10-Q in the Notes to Condensed Consolidated Financial Statements in Note 11, “Segment Information and Geographic Data.”
The following table shows net sales by reportable segment for the three- and nine-month peri... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 299 | Year-over-year Americas net sales increased during the first nine months of 2021 due primarily to higher net sales of iPhone, Services and Mac. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 300 | Europe
Europe net sales increased during the third quarter of 2021 compared to the third quarter of 2020 due primarily to higher net sales of iPhone, Services and Wearables, Home and Accessories. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 301 | Year-over-year Europe net sales increased during the first nine months of 2021 due primarily to higher net sales of iPhone, iPad and Mac. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 302 | The movement of foreign currencies in Europe relative to the U.S. dollar had a net favorable impact on Europe net sales during the third quarter and first nine months of 2021. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 303 | Greater China
Greater China net sales increased during the third quarter of 2021 compared to the third quarter of 2020 due primarily to higher net sales of iPhone and Services. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 304 | Year-over-year Greater China net sales increased during the first nine months of 2021 due primarily to higher net sales of iPhone and iPad. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 305 | The strength of the Chinese renminbi relative to the U.S. dollar had a favorable impact on Greater China net sales during the third quarter and first nine months of 2021. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 306 | Apple Inc. | Q3 2021 Form 10-Q | 25
Japan
Japan net sales increased during the third quarter of 2021 compared to the third quarter of 2020 due primarily to higher net sales of iPhone. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 307 | Year-over-year Japan net sales increased during the first nine months of 2021 due primarily to higher net sales of iPhone and Services. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 308 | The strength of the Japanese yen relative to the U.S. dollar had a favorable impact on Japan net sales during the first nine months of 2021. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 309 | Rest of Asia Pacific
Rest of Asia Pacific net sales increased during the third quarter and first nine months of 2021 compared to the same periods in 2020 due primarily to higher net sales of iPhone, Wearables, Home and Accessories and Services. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 310 | The movement of foreign currencies in the Rest of Asia Pacific relative to the U.S. dollar had a favorable impact on Rest of Asia Pacific net sales during the third quarter and first nine months of 2021. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 311 | Gross Margin
Products and Services gross margin and gross margin percentage for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 were as follows (dollars in millions):
Products Gross Margin
Products gross margin increased during the third quarter and first nine months of 2021 compared to the same... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 312 | Products gross margin percentage increased during the third quarter of 2021 compared to the third quarter of 2020 due primarily to a different Products mix, the strength in foreign currencies relative to the U.S. dollar and improved leverage. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 313 | Year-over-year Products gross margin percentage increased during the first nine months of 2021 due primarily to improved leverage, a different Products mix and the strength in foreign currencies relative to the U.S. dollar. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 314 | Services Gross Margin
Services gross margin increased during the third quarter and first nine months of 2021 compared to the same periods in 2020 due primarily to higher Services net sales, a different Services mix and the strength in foreign currencies relative to the U.S. dollar. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 315 | Year-over-year Services gross margin percentage increased during the third quarter and first nine months of 2021 due primarily to a different Services mix and improved leverage, partially offset by higher Services costs. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 316 | The Company’s future gross margins can be impacted by a variety of factors, as discussed in Part I, Item 1A of the 2020 Form 10-K under the heading “Risk Factors.” As a result, the Company believes, in general, gross margins will be subject to volatility and downward pressure. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 317 | Apple Inc. | Q3 2021 Form 10-Q | 26
Operating Expenses
Operating expenses for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 were as follows (dollars in millions):
Research and Development
The growth in research and development (“R&D”) expense during the third quarter of 2021 compared to the th... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 318 | Year-over-year R&D expense increased during the first nine months of 2021 due primarily to higher headcount-related expenses and R&D-related professional services. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 319 | 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. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 320 | Selling, General and Administrative
The growth in selling, general and administrative expense during the third quarter of 2021 compared to the third quarter of 2020 was driven primarily by increases in headcount-related and advertising expenses. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 321 | Year-over-year selling, general and administrative expense increased during the first nine months of 2021 due primarily to higher headcount-related and variable selling expenses. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 322 | Other Income/(Expense), Net
Other income/(expense), net (“OI&E”) for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 was as follows (dollars in millions):
OI&E increased during the third quarter of 2021 compared to the third quarter of 2020 due primarily to a favorable carrying value adjustment ... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 323 | Year-over-year OI&E increased during the first nine months of 2021 due primarily to smaller impairments of securities, lower interest expense and favorable carrying value adjustments of non-marketable securities, partially offset by lower interest income. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 324 | The weighted-average interest rate earned by the Company on its cash, cash equivalents and marketable securities was 1.32% and 1.74% in the third quarter of 2021 and 2020, respectively, and 1.40% and 1.95% in the first nine months of 2021 and 2020, respectively. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 325 | Apple Inc. | Q3 2021 Form 10-Q | 27
Provision for Income Taxes
Provision for income taxes, effective tax rate and statutory federal income tax rate for the three- and nine-month periods ended June 26, 2021 and June 27, 2020 were as follows (dollars in millions):
The Company’s effective tax rate for the third quarter an... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 326 | The Company’s effective tax rate for the third quarter of 2021 was lower compared to the third quarter of 2020 due primarily to the favorable impact of changes in unrecognized tax benefits, a higher mix of foreign earnings, and higher tax benefits from share-based compensation. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 327 | The Company’s effective tax rate for the first nine months of 2021 was lower compared to the same period in 2020 due primarily to higher tax benefits from share-based compensation, the favorable impact of changes in unrecognized tax benefits, and a higher mix of foreign earnings, partially offset by a one-time adjustme... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 328 | Liquidity and Capital Resources
The following tables present selected financial information and statistics as of June 26, 2021 and September 26, 2020 and for the first nine months of 2021 and 2020 (in millions):
(1)As of June 26, 2021 and September 26, 2020, total marketable securities included $18.9 billion and $18.6 ... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 329 | The Company believes its existing balances of cash, cash equivalents and marketable securities, along with commercial paper and other short-term liquidity arrangements, will be sufficient to satisfy its working capital needs, capital asset purchases, dividends, share repurchases, debt repayments and other liquidity req... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 330 | In connection with the State Aid Decision, as of June 26, 2021, the adjusted recovery amount of €12.7 billion plus interest of €1.2 billion was funded into escrow, where it will remain restricted from general use pending the conclusion of all legal proceedings. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 331 | Further information regarding the State Aid Decision can be found in Part I, Item 1 of this Form 10-Q in the Notes to Condensed Consolidated Financial Statements in Note 5, “Income Taxes.”
The Company’s marketable securities investment portfolio is primarily invested in highly rated securities, with the primary objecti... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 332 | The Company’s investment policy generally requires securities to be investment grade and limits the amount of credit exposure to any one issuer. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 333 | Apple Inc. | Q3 2021 Form 10-Q | 28
During the nine months ended June 26, 2021, cash generated by operating activities of $83.8 billion was a result of $74.1 billion of net income, non-cash adjustments to net income of $12.8 billion and a decrease in the net change in operating assets and liabilities of $3.1 billion. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 334 | Cash used in investing activities of $15.4 billion during the nine months ended June 26, 2021 consisted primarily of cash used for purchases of marketable securities, net of maturities and sales, of $7.4 billion and cash used to acquire property, plant and equipment of $7.9 billion. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 335 | Cash used in financing activities of $73.0 billion during the nine months ended June 26, 2021 consisted primarily of cash used to repurchase common stock of $66.2 billion, cash used to pay dividends and dividend equivalents of $10.8 billion and cash used to repay or redeem term debt of $7.5 billion, partially offset by... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 336 | During the nine months ended June 27, 2020, cash generated by operating activities of $60.1 billion was a result of $44.7 billion of net income, non-cash adjustments to net income of $13.5 billion and an increase in the net change in operating assets and liabilities of $1.8 billion. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 337 | Cash used in investing activities of $9.8 billion during the nine months ended June 27, 2020 consisted primarily of cash used for purchases of marketable securities, net of maturities and sales, of $2.0 billion and cash used to acquire property, plant and equipment of $5.5 billion. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 338 | Cash used in financing activities of $65.5 billion during the nine months ended June 27, 2020 consisted primarily of cash used to repurchase common stock of $55.2 billion, cash used to pay dividends and dividend equivalents of $10.6 billion and cash used to repay or redeem term debt of $12.6 billion, partially offset b... | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 339 | Debt
The Company issues unsecured short-term promissory notes (“Commercial Paper”) pursuant to a commercial paper program. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 340 | The Company uses the net proceeds from the commercial paper program for general corporate purposes, including dividends and share repurchases. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 341 | As of June 26, 2021, the Company had $8.0 billion of Commercial Paper outstanding, with a weighted-average interest rate of 0.04% and maturities generally less than nine months. | 0000320193-21-000065/full-submission.txt |
0000320193 | 20210728 | 10-Q | 342 | As of June 26, 2021, the Company had outstanding floating- and fixed-rate notes with varying maturities for an aggregate principal amount of $113.2 billion (collectively the “Notes”). | 0000320193-21-000065/full-submission.txt |
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