Apple Inc. (AAPL) Preview

Apple Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

Twelve Months Ended
September 28, 2013 September 29, 2012
Cash and cash equivalents, beginning of the year $ 10,746 $ 9,815
Operating activities:
Net income 37,037 41,733
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization 6,757 3,277
Share-based compensation expense 2,253 1,740
Deferred income tax expense 1,141 4,405
Changes in operating assets and liabilities:
Accounts receivable, net (2,172) (5,551)
Inventories (973) (15)
Vendor non-trade receivables 223 (1,414)
Other current and non-current assets 1,080 (3,162)
Accounts payable 2,340 4,467
Deferred revenue 1,459 2,824
Other current and non-current liabilities 4,521 2,552
Cash generated by operating activities 53,666 50,856
Investing activities:
Purchases of marketable securities (148,489) (151,232)
Proceeds from maturities of marketable securities 20,317 13,035
Proceeds from sales of marketable securities 104,130 99,770
Payments made in connection with business acquisitions, net (496) (350)
Payments for acquisition of property, plant and equipment (8,165) (8,295)
Payments for acquisition of intangible assets (911) (1,107)
Other (160) (48)
Cash used in investing activities (33,774) (48,227)
Financing activities:
Proceeds from issuance of common stock 530 665
Excess tax benefits from equity awards 701 1,351
Taxes paid related to net share settlement of equity awards (1,082) (1,226)
Dividends and dividend equivalent rights paid (10,564) (2,488)
Repurchase of common stock (22,860) 0
Proceeds from issuance of long-term debt, net 16,896 0
Cash used in financing activities (16,379) (1,698)
Increase in cash and cash equivalents 3,513 931
Cash and cash equivalents, end of the year $ 14,259 $ 10,746
Supplemental cash flow disclosure:
Cash paid for income taxes, net $ 9,128 $ 7,682
Apple Inc.
Q4 2013 Unaudited Summary Data
(Units in thousands, Revenue in millions)
Q4’13 Q3’13 Q4’12 Sequential
Change
Year/Year Change
Operating Segments Revenue Revenue Revenue Revenue Revenue
Americas $13,941 $14,405 $13,810 – 3% 1%
Europe 8,005 7,614 8,023 5% 0%
Greater China (a) 5,733 4,641 5,427 24% 6%
Japan 3,341 2,543 2,367 31% 41%
Rest of Asia Pacific 1,980 2,046 2,110 – 3% – 6%
Retail 4,472 4,074 4,229 10% 6%
Total Apple $37,472 $35,323 $35,966 6% 4%
Q4’13 Q3’13 Q4’12 Sequential
Change
Year/Year Change
Product Summary Units Revenue Units Revenue Units Revenue Units Revenue Units Revenue
iPhone (b) 33,797 $19,510 31,241 $18,154 26,910 $16,645 8% 7% 26% 17%
iPad (b) 14,079 6,186 14,617 6,374 14,036 7,133 – 4% – 3% 0% – 13%
Mac (b) 4,574 5,624 3,754 4,893 4,923 6,617 22% 15% – 7% – 15%
iPod (b) 3,498 573 4,569 733 5,344 820 – 23% – 22% – 35% – 30%
iTunes/Software/Services (c) 4,260 3,990 3,496 7% 22%
Accessories (d) 1,319 1,179 1,255 12% 5%
Total Apple $37,472 $35,323 $35,966 6% 4%
(a) Greater China includes China, Hong Kong and Taiwan.
(b) Includes deferrals and amortization of related non-software services and software upgrade rights.
(c) Includes revenue from sales on the iTunes Store, the App Store, the Mac App Store, and the iBooks Store, and revenue from sales of AppleCare, licensing and other services.
(d) Includes sales of hardware peripherals and Apple-branded and third-party accessories for iPhone, iPad, Mac and iPod.

 

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Apple
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Investor Relations:
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