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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts)  Three Months Ended  December 28, 2024  December 30, 2023 Net sales:       Products $ 97,960   $ 96,458     Services  26,340    23,117  Total net sales (1)  124,300    119,575  Cost of sales:       Products  59,447    58,440     Services  6,578    6,280  Total cost of sales  66,025    64,720  Gross margin  58,275    54,855      Operating expenses:    Research and development  8,268    7,696  Selling, general and administrative  7,175    6,786  Total operating expenses  15,443    14,482      Operating income  42,832    40,373  Other income/(expense), net  (248)   (50) Income before provision for income taxes  42,584    40,323  Provision for income taxes  6,254    6,407  Net income $ 36,330   $ 33,916      Earnings per share:    Basic $ 2.41   $ 2.19  Diluted $ 2.40   $ 2.18  Shares used in computing earnings per share:    Basic  15,081,724    15,509,763  Diluted  15,150,865    15,576,641      (1) Net sales by reportable segment:    Americas $ 52,648   $ 50,430  Europe  33,861    30,397  Greater China  18,513    20,819  Japan  8,987    7,767  Rest of Asia Pacific  10,291    10,162  Total net sales $ 124,300   $ 119,575      (1) Net sales by category:    iPhone $ 69,138   $ 69,702  Mac  8,987    7,780  iPad  8,088    7,023  Wearables, Home and Accessories  11,747    11,953  Services  26,340    23,117  Total net sales $ 124,300   $ 119,575   

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Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value)   December 28, 2024  September 28, 2024 ASSETS: Current assets:    Cash and cash equivalents $ 30,299   $ 29,943  Marketable securities  23,476    35,228  Accounts receivable, net  29,639    33,410  Vendor non-trade receivables  29,667    32,833  Inventories  6,911    7,286  Other current assets  13,248    14,287  Total current assets  133,240    152,987      Non-current assets:    Marketable securities  87,593    91,479  Property, plant and equipment, net  46,069    45,680  Other non-current assets  77,183    74,834  Total non-current assets  210,845    211,993  Total assets $ 344,085   $ 364,980      LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities:    Accounts payable $ 61,910   $ 68,960  Other current liabilities  61,151    78,304  Deferred revenue  8,461    8,249  Commercial paper  1,995    9,967  Term debt  10,848    10,912  Total current liabilities  144,365    176,392      Non-current liabilities:    Term debt  83,956    85,750  Other non-current liabilities  49,006    45,888  Total non-current liabilities  132,962    131,638  Total liabilities  277,327    308,030      Commitments and contingencies        Shareholders’ equity:    Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,040,731 and 15,116,786 shares issued and outstanding, respectively  84,768    83,276  Accumulated deficit  (11,221)   (19,154) Accumulated other comprehensive loss  (6,789)   (7,172) Total shareholders’ equity  66,758    56,950  Total liabilities and shareholders’ equity $ 344,085   $ 364,980   

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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)   Three Months Ended  December 28, 2024  December 30, 2023 Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances $ 29,943   $ 30,737      Operating activities:    Net income  36,330    33,916  Adjustments to reconcile net income to cash generated by operating activities:    Depreciation and amortization  3,080    2,848  Share-based compensation expense  3,286    2,997  Other  (2,009)   (989) Changes in operating assets and liabilities:    Accounts receivable, net  3,597    6,555  Vendor non-trade receivables  3,166    4,569  Inventories  215    (137) Other current and non-current assets  939    (1,457) Accounts payable  (6,671)   (4,542) Other current and non-current liabilities  (11,998)   (3,865) Cash generated by operating activities  29,935    39,895      Investing activities:    Purchases of marketable securities  (6,124)   (9,780) Proceeds from maturities of marketable securities  15,967    13,046  Proceeds from sales of marketable securities  3,492    1,337  Payments for acquisition of property, plant and equipment  (2,940)   (2,392) Other  (603)   (284) Cash generated by investing activities  9,792    1,927      Financing activities:    Payments for taxes related to net share settlement of equity awards  (2,921)   (2,591) Payments for dividends and dividend equivalents  (3,856)   (3,825) Repurchases of common stock  (23,606)   (20,139) Repayments of term debt  (1,009)   —  Repayments of commercial paper, net  (7,944)   (3,984) Other  (35)   (46) Cash used in financing activities  (39,371)   (30,585)     Increase in cash, cash equivalents, and restricted cash and cash equivalents  356    11,237  Cash, cash equivalents, and restricted cash and cash equivalents, ending balances $ 30,299   $ 41,974      Supplemental cash flow disclosure:    Cash paid for income taxes, net $ 18,651   $ 7,255   