AAPL Financial Report
AAPL Financial Report
AAPL Financial Report
10-Q
true
Apr. 01, 2023
false
001-36743
Apple Inc.
CA
94-2404110
One Apple Park Way
Cupertino
CA
95014
408
996-1010
Yes
Yes
Large Accelerated Filer
false
false
false
15,728,702
false
2023
Q2
0000320193
--09-30
$ 24,687 $ 23,646
31,185 24,658
17,936 28,184
7,482 4,946
17,963 32,748
13,660 21,223
112,913 135,405
110,461 120,805
43,398 42,117
65,388 54,428
219,247 217,350
332,160 352,755
42,945 64,115
56,425 60,845
8,131 7,912
1,996 9,982
10,578 11,128
120,075 153,982
97,041 98,959
52,886 49,142
149,927 148,101
270,002 302,083
69,568 64,849
4,336 (3,068)
(11,746) (11,109)
62,158 50,672
$ 332,160 $ 352,755
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ /
shares
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)
Common stock, shares authorized (in shares)
Common stock, shares issued (in shares)
Common stock, shares outstanding (in shares)
Apr. 01, 2023 Sep. 24, 2022
$ 0.00001 $ 0.00001
### ###
### ###
### ###
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) -
USD ($) $ in Millions
Beginning balances at Sep. 25, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued
Common stock withheld related to net share settlement of equity awards
Share-based compensation
Net income
Dividends and dividend equivalents declared
Common stock repurchased
Other comprehensive income/(loss)
Ending balances at Mar. 26, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)
Beginning balances at Dec. 25, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued
Common stock withheld related to net share settlement of equity awards
Share-based compensation
Net income
Dividends and dividend equivalents declared
Common stock repurchased
Other comprehensive income/(loss)
Ending balances at Mar. 26, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)
Beginning balances at Sep. 24, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued
Common stock withheld related to net share settlement of equity awards
Share-based compensation
Net income
Dividends and dividend equivalents declared
Common stock repurchased
Other comprehensive income/(loss)
Ending balances at Apr. 01, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)
Beginning balances at Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued
Common stock withheld related to net share settlement of equity awards
Share-based compensation
Net income
Dividends and dividend equivalents declared
Common stock repurchased
Other comprehensive income/(loss)
Ending balances at Apr. 01, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)
Total Common stock and additional paid-in capital
$ 63,090 $ 57,365
593
(1,412)
4,635
59,640
(6,657)
$ 67,399 61,181
$ 0.44
$ 71,932 58,424
593
(149)
2,313
25,010
(5,567)
$ 67,399 61,181
$ 0.22
$ 50,672 64,849
690
(1,715)
5,744
54,158
(38,100)
(637)
$ 62,158 69,568
$ 0.46
$ 56,727 66,399
690
(281)
2,760
24,160
1,166
$ 62,158 $ 69,568
$ 0.23
Retained earnings/(Accumulated deficit) Accumulated other comprehensive income/(loss)
$ 5,562 $ 163
(1,920)
59,640
(7,298)
(43,272)
(6,657)
12,712 (6,494)
14,435 (927)
(190)
25,010
(3,633)
(22,910)
(5,567)
12,712 (6,494)
(3,068) (11,109)
(1,130)
54,158
(7,396)
(38,228)
(637)
4,336 (11,746)
3,240 (12,912)
(152)
24,160
(3,684)
(19,228)
1,166
$ 4,336 $ (11,746)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in
Millions
Statement of Cash Flows [Abstract]
Cash, cash equivalents and restricted cash, beginning balances
Operating activities:
Net income
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization
Share-based compensation expense
Other
Changes in operating assets and liabilities:
Accounts receivable, net
Inventories
Vendor non-trade receivables
Other current and non-current assets
Accounts payable
Other current and non-current liabilities
Cash generated by operating activities
Investing activities:
Purchases of marketable securities
Proceeds from maturities of marketable securities
Proceeds from sales of marketable securities
Payments for acquisition of property, plant and equipment
Other
Cash generated by/(used in) investing activities
Financing activities:
Payments for taxes related to net share settlement of equity awards
Payments for dividends and dividend equivalents
Repurchases of common stock
Repayments of term debt
Proceeds from/(Repayments of) commercial paper, net
Other
Cash used in financing activities
Increase/(Decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash, ending balances
Supplemental cash flow disclosure:
Cash paid for income taxes, net
Cash paid for interest
6 Months Ended
Apr. 01, 2023 Mar. 26, 2022
$ 24,977 $ 35,929
54,158 59,640
5,814 5,434
5,591 4,517
(1,732) 1,068
9,596 5,542
(2,548) 1,065
14,785 643
(4,092) (3,542)
(20,764) (1,750)
1,757 2,515
62,565 75,132
(11,197) (61,987)
17,124 18,000
1,897 24,668
(6,703) (5,317)
(247) (735)
874 (25,371)
(2,734) (3,218)
(7,418) (7,327)
(39,069) (43,109)
(3,651) (3,750)
(7,960) 999
(455) (105)
(61,287) (56,510)
2,152 (6,749)
27,129 29,180
4,894 9,301
$ 1,873 $ 1,406
Summary of Significant Accounting Policies
Accounting Policies [Abstract]
Summary of Significant Accounting Policies
6 Months Ended
Apr. 01, 2023
Revenue Net sales disaggregated by significant products and services for the three- and six-
month periods ended April 1, 2023 and March 26, 2022 were as follows (in millions): Three
Financial Instruments
Investments, All Other Investments [Abstract]
Financial Instruments
6 Months Ended
Apr. 01, 2023
Financial Instruments Cash, Cash Equivalents and Marketable Securities The following tables
show the Company’s cash, cash equivalents and marketable securities by significant
Condensed Consolidated Financial Statement Details
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Financial Statement Details
6 Months Ended
Apr. 01, 2023
Condensed Consolidated Financial Statement Details The following tables show the
Company’s condensed consolidated financial statement details as of April 1, 2023 and
Income Taxes
Income Tax Disclosure [Abstract]
Income Taxes
6 Months Ended
Apr. 01, 2023
Income Taxes European Commission State Aid Decision On August 30, 2016, the European
Commission announced its decision that Ireland granted state aid to the Company by
Debt
Debt Disclosure [Abstract]
Debt
6 Months Ended
Apr. 01, 2023
Debt Commercial Paper The Company issues unsecured short-term promissory notes
(“Commercial Paper”) pursuant to a commercial paper program. The Company uses net
Shareholders' Equity
Equity [Abstract]
Shareholders' Equity
6 Months Ended
Apr. 01, 2023
Shareholders’ Equity Share Repurchase Program During the six months ended April 1, 2023,
the Company repurchased 262 million shares of its common stock under an authorized share
Benefit Plans
Share-Based Payment Arrangement [Abstract]
Benefit Plans
6 Months Ended
Apr. 01, 2023
Benefit Plans Restricted Stock Units A summary of the Company’s RSU activity and related
information for the six months ended April 1, 2023 is as follows: Number of RSUs (in
Commitments and Contingencies
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies
6 Months Ended
Apr. 01, 2023
Segment Information and Geographic Data The following table shows information by
reportable segment for the three- and six-month periods ended April 1, 2023 and March 26,
Summary of Significant Accounting Policies (Policies)
Accounting Policies [Abstract]
Basis of Presentation and Preparation
Fiscal Period
Fair Value Measurements
6 Months Ended
Apr. 01, 2023
The following table shows the computation of basic and diluted earnings per share for the
three- and six-month periods ended April 1, 2023 and March 26, 2022 (net income in millions
Revenue (Tables)
Revenue from Contract with Customer [Abstract]
Net Sales Disaggregated by Significant Products and Services
6 Months Ended
Apr. 01, 2023
Net sales disaggregated by significant products and services for the three- and six-month
periods ended April 1, 2023 and March 26, 2022 were as follows (in millions): Three Months
Financial Instruments (Tables)
Investments, All Other Investments [Abstract]
Cash, Cash Equivalents and Marketable Securities by Significant Investment Category
Non-Current Marketable Debt Securities by Contractual Maturity
Notional Amounts of Outstanding Derivative Instruments
Gross Fair Values of Derivative Assets and Liabilities
Carrying Amounts of Hedged Items in Fair Value Hedges
6 Months Ended
Apr. 01, 2023
The following tables show the Company’s cash, cash equivalents and marketable securities by
significant investment
The following category
table shows as value
the fair of April
of 1,
the2023 and September
Company’s 24, 2022
non-current (in millions):
marketable debt April
securities,
The notionalbyamounts
contractual maturity,
of the as of outstanding
Company’s April 1, 2023derivative
(in millions): Due afteras1of
instruments year through
April 5
1, 2023
and September 24, 2022 were as follows (in millions): April 1, September 24, Derivative
The gross fair values of the Company’s derivative assets and liabilities as of September 24,
2022 were asamounts
The carrying follows (in millions):
of the September
Company’s hedged24, 2022
items inFair
fair Value of Fair Value
value hedges of Total
as of April 1, 2023
and September 24, 2022 were as follows (in millions): April 1, September 24, Hedged
Condensed Consolidated Financial Statement Details (Tables)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Inventories
Property, Plant and Equipment, Net
Other Income/(Expense), Net
6 Months Ended
Apr. 01, 2023
Inventories April 1, September 24, Components $ 3,379 $ 1,637 Finished goods 4,103 3,309
Total inventories
Property, $ 7,482
Plant and $ 4,946Net April 1, September 24, Gross property, plant and
Equipment,
equipment $ 113,066 $ 114,457
Other Income/(Expense), Net TheAccumulated depreciation
following table shows theand amortization
detail (69,668)
of other income/(expense),
net for the three- and six-month periods ended April 1, 2023 and March 26, 2022 (in
Debt (Tables)
Debt Disclosure [Abstract]
Summary of Cash Flows Associated with the Issuance and Maturities of Commercial Paper
6 Months Ended
Apr. 01, 2023
The following table provides a summary of cash flows associated with the issuance and
maturities of Commercial Paper for the six months ended April 1, 2023 and March 26, 2022
Benefit Plans (Tables)
Share-Based Payment Arrangement [Abstract]
Restricted Stock Unit Activity
Summary of Share-Based Compensation Expense and the Related Income Tax Benefit
6 Months Ended
Apr. 01, 2023
A summary of the Company’s RSU activity and related information for the six months ended
April 1, 2023 istable
The following as follows: Number of RSUs
shows share-based (in thousands)
compensation Weighted-Average
expense and the related Aggregate
income taxFair
benefit included in the Condensed Consolidated Statements of Operations for the three- and
Commitments and Contingencies (Tables)
Commitments and Contingencies Disclosure [Abstract]
Future Payments Under Unconditional Purchase Obligations
6 Months Ended
Apr. 01, 2023
The following table shows information by reportable segment for the three- and six-month
periods ended April
A reconciliation 1, Company’s
of the 2023 and March 26, operating
segment 2022 (in millions):
income toThree Months Ended
the Condensed Six
Consolidated
Statements of Operations for the three- and six-month periods ended April 1, 2023 and March
Summary of Significant Accounting Policies - Computation of Basic and Diluted
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in
Millions
Numerator:
Net income
Denominator:
Weighted-average basic shares outstanding (in shares)
Effect of dilutive securities (in shares)
Weighted-average diluted shares (in shares)
Basic earnings per share (in dollars per share)
Diluted earnings per share (in dollars per share)
3 Months Ended 6 Months Ended
Apr. 01, 2023 Mar. 26, 2022 Apr. 01, 2023 Mar. 26, 2022
48
Revenue - Net Sales Disaggregated by Significant Products and Services (Details) - USD
($) $ in Millions
Disaggregation of Revenue [Line Items]
Net sales
Revenue recognized that was included in deferred revenue at the beginning of the period
iPhone
Disaggregation of Revenue [Line Items]
Net sales
Mac
Disaggregation of Revenue [Line Items]
Net sales
iPad
Disaggregation of Revenue [Line Items]
Net sales
Wearables, Home and Accessories
Disaggregation of Revenue [Line Items]
Net sales
Services
Disaggregation of Revenue [Line Items]
Net sales
3 Months Ended 6 Months Ended
Apr. 01, 2023 Mar. 26, 2022 Apr. 01, 2023 Mar. 26, 2022
$ 12.4
Revenue - Deferred Revenue, Expected Timing of Realization (Details)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date
[Axis]:
Revenue,2023-04-02
Remaining Performance Obligation, Expected Timing of Satisfaction [Line
Items]
Deferred revenue, expected timing of realization, percentage
Deferred revenue, expected timing of realization, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date
[Axis]:
Revenue,2024-03-31
Remaining Performance Obligation, Expected Timing of Satisfaction [Line
Items]
Deferred revenue, expected timing of realization, percentage
Deferred revenue, expected timing of realization, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date
[Axis]:
Revenue,2025-03-30
Remaining Performance Obligation, Expected Timing of Satisfaction [Line
Items]
Deferred revenue, expected timing of realization, percentage
Deferred revenue, expected timing of realization, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date
[Axis]:
Revenue,2026-03-29
Remaining Performance Obligation, Expected Timing of Satisfaction [Line
Items]
Deferred revenue, expected timing of realization, percentage
Deferred revenue, expected timing of realization, period
Apr. 01, 2023
65%
1 year
26%
1 year
7%
1 year
2%
Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) -
USD ($) $ in Millions
Marketable Securities [Line Items]
Cash, Cash Equivalents and Marketable Securities, Adjusted Cost
Cash Equivalents and Marketable Securities, Unrealized Gains
Cash Equivalents and Marketable Securities, Unrealized Losses
Cash, Cash Equivalents and Marketable Securities, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Total marketable securities that were restricted from general use
Level 1
Marketable Securities [Line Items]
Marketable Securities, Equity, Adjusted Cost
Marketable Securities, Equity, Unrealized Gains
Marketable Securities, Equity, Unrealized Losses
Marketable Securities, Equity, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Cash
Marketable Securities [Line Items]
Cash
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Money market funds | Level 1
Marketable Securities [Line Items]
Marketable Securities, Equity, Adjusted Cost
Marketable Securities, Equity, Unrealized Gains
Marketable Securities, Equity, Unrealized Losses
Marketable Securities, Equity, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Mutual funds | Level 1
Marketable Securities [Line Items]
Marketable Securities, Equity, Adjusted Cost
Marketable Securities, Equity, Unrealized Gains
Marketable Securities, Equity, Unrealized Losses
Marketable Securities, Equity, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
U.S. Treasury securities | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
U.S. agency securities | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Non-U.S. government securities | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Certificates of deposit and time deposits | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Commercial paper | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Corporate debt securities | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Municipal securities | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Mortgage- and asset-backed securities | Level 2
Marketable Securities [Line Items]
Marketable Securities, Debt, Adjusted Cost
Marketable Securities, Debt, Unrealized Gains
Marketable Securities, Debt, Unrealized Losses
Marketable Securities, Debt, Fair Value
Cash and Cash Equivalents
Current Marketable Securities
Non-Current Marketable Securities
Apr. 01, 2023 Sep. 24, 2022
$ 177,228 $ 183,061
67 11
(10,962) (13,963)
166,333 169,109
24,687 23,646
31,185 24,658
110,461 120,805
13,100 12,700
2,001 3,203
5 0
(26) (47)
1,980 3,156
1,656 2,929
324 227
0 0
155,177 161,312
62 11
(10,936) (13,916)
144,303 147,407
2,981 2,171
30,861 24,431
110,461 120,805
20,050 18,546
20,050 18,546
0 0
0 0
1,656 2,929
0 0
0 0
1,656 2,929
1,656 2,929
0 0
0 0
345 274
5 0
(26) (47)
324 227
0 0
324 227
0 0
22,754 25,134
1 0
(1,262) (1,725)
21,493 23,409
9 338
8,002 5,091
13,482 17,980
5,743 5,823
0 0
(538) (655)
5,205 5,168
0 0
199 240
5,006 4,928
17,380 16,948
20 2
(961) (1,201)
16,439 15,749
0 0
10,222 8,806
6,217 6,943
2,999 2,067
0 0
0 0
2,999 2,067
2,881 1,805
118 262
0 0
271 718
0 0
0 0
271 718
0 28
271 690
0 0
82,802 87,148
32 9
(6,049) (7,707)
76,785 79,450
91 0
11,676 9,023
65,018 70,427
790 921
0 0
(20) (35)
770 886
0 0
257 266
513 620
22,438 22,553
9 0
(2,106) (2,593)
20,341 19,960
0 0
116 53
$ 20,225 $ 19,907
Financial Instruments - Non-Current Marketable Debt Securities by Contractual
Maturity (Details) $ in Millions
Fair value of non-current marketable debt securities by contractual maturity
Due after 1 year through 5 years
Due after 5 years through 10 years
Due after 10 years
Total fair value
Apr. 01, 2023 USD ($)
$ 81,352
11,928
17,181
$ 110,461
Financial Instruments - Additional Information (Details) $ in Millions
Financial Instruments [Line Items]
Potential reduction to derivative assets resulting from rights of set-off under master netting
arrangements, including
Potential reduction the effects
to derivative of collateral
liabilities resulting from rights of set-off under master
netting arrangements, including the effects of collateral
Net derivative assets/(liabilities) after potential reductions under master netting
arrangements
Credit concentration risk
Financial Instruments [Line Items]
Derivative, credit risk amount
Trade receivables | Credit concentration risk
Financial Instruments [Line Items]
Number of customers that individually represented 10% or more of total trade receivables |
Customer
Trade receivables | Credit concentration risk | Customer One
Financial Instruments [Line Items]
Concentration risk, percentage
Trade receivables | Credit concentration risk | Cellular network carriers
Financial Instruments [Line Items]
Concentration risk, percentage
Non-trade receivables | Credit concentration risk
Financial Instruments [Line Items]
Number of vendors that individually represented 10% or more of total vendor non-trade
receivables | Vendor | Credit concentration risk | Vendor one
Non-trade receivables
Financial Instruments [Line Items]
Concentration risk, percentage
Non-trade receivables | Credit concentration risk | Vendor two
Financial Instruments [Line Items]
Concentration risk, percentage
Non-trade receivables | Credit concentration risk | Vendor three
Financial Instruments [Line Items]
Concentration risk, percentage
Hedges of foreign currency exposure associated with revenue and inventory purchases
Financial Instruments [Line Items]
Maximum length of time over which the Company is hedging its exposure to the variability in
future
Hedgescash flows for
of foreign foreignexposure
currency currencyassociated
transactionswith term debt
Financial Instruments [Line Items]
Maximum length of time over which the Company is hedging its exposure to the variability in
future cash flows for foreign currency transactions
6 Months Ended 12 Months Ended
Apr. 01, 2023 Customer Vendor Sep. 24, 2022 USD ($) Vendor Customer
$ 7,800
7,800
412
$ 7,136
1 1
10% 10%
32% 44%
3 2
43% 54%
19% 13%
13%
12 months
19 years
Financial Instruments - Notional Amounts of Derivative Instruments (Details) - USD ($)
$ in Millions
Derivatives designated as accounting hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivatives, notional amount
Derivatives designated as accounting hedges | Interest rate contracts
Derivatives, Fair Value [Line Items]
Derivatives, notional amount
Derivatives not designated as accounting hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivatives, notional amount
Apr. 01, 2023 Sep. 24, 2022
$ 51,119 $ 102,670
19,375 20,125
$ 111,696 $ 185,381
Financial Instruments - Gross Fair Values of Derivative Assets and Liabilities (Details) -
Level 2 $ in Millions
Other current assets and other non-current assets | Foreign exchange contracts
Derivative assets:
Fair value of derivative assets
Other current assets and other non-current assets | Foreign exchange contracts | Derivatives
designated
Derivative as accounting hedges
assets:
Fair value of derivative assets
Other current assets and other non-current assets | Foreign exchange contracts | Derivatives
not designated
Derivative as accounting hedges
assets:
Fair value of derivative assets
Other current liabilities and other non-current liabilities | Foreign exchange contracts
Derivative liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Foreign exchange contracts |
Derivatives designated as accounting hedges
Derivative liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Foreign exchange contracts |
Derivatives not designated as accounting hedges
Derivative liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Interest rate contracts
Derivative liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Interest rate contracts | Derivatives
designated
Derivative as accounting hedges
liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Interest rate contracts | Derivatives
not designated
Derivative as accounting hedges
liabilities:
Fair value of derivative liabilities
Sep. 24, 2022 USD ($)
$ 7,136
4,317
2,819
4,752
2,205
2,547
1,367
1,367
$0
Financial Instruments - Derivative Instruments Designated as Fair Value Hedges and
Related Hedged Items (Details) - USD ($) $ in Millions
Current and non-current marketable securities
Derivatives, Fair Value [Line Items]
Carrying amount of hedged marketable securities
Current and non-current term debt
Derivatives, Fair Value [Line Items]
Carrying amount of hedged term debt
Apr. 01, 2023 Sep. 24, 2022
$ 14,651 $ 13,378
$ (18,249) $ (18,739)
Condensed Consolidated Financial Statement Details - Inventories (Details) - USD ($) $
in Millions
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components
Finished goods
Total inventories
Apr. 01, 2023 Sep. 24, 2022
$ 3,379 $ 1,637
4,103 3,309
$ 7,482 $ 4,946
Condensed Consolidated Financial Statement Details - Property, Plant and Equipment,
Net (Details) - USD ($) $ in Millions
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gross property, plant and equipment
Accumulated depreciation and amortization
Total property, plant and equipment, net
Apr. 01, 2023 Sep. 24, 2022
$ 113,066 $ 114,457
(69,668) (72,340)
$ 43,398 $ 42,117
Condensed Consolidated Financial Statement Details - Other Income/(Expense), Net
(Details) - USD ($) $ in Millions
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest and dividend income
Interest expense
Other income/(expense), net
Total other income/(expense), net
3 Months Ended 6 Months Ended
Apr. 01, 2023 Mar. 26, 2022 Apr. 01, 2023 Mar. 26, 2022
2
Debt - Additional Information (Details) - USD ($) $ in Millions Apr. 01, 2023
Debt Instrument [Line Items]
Commercial paper $ 1,996
Fixed-rate notes, aggregate carrying amount 107,600
Commercial paper
Debt Instrument [Line Items]
Commercial paper 2,000
Level 2
Debt Instrument [Line Items]
Fixed-rate notes, aggregate fair value $ 98,400
Sep. 24, 2022
$ 9,982
110,100
10,000
$ 98,800
Debt - Summary of Cash Flows Associated with Commercial Paper (Details) - USD ($) $
in Millions
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net
Maturities greater than 90 days:
Proceeds from commercial paper
Repayments of commercial paper
Repayments of commercial paper, net
Total proceeds from/(repayments of) commercial paper, net
6 Months Ended
Apr. 01, 2023 Mar. 26, 2022
$ (5,315) $ 4,952
0 1,191
(2,645) (5,144)
(2,645) (3,953)
$ (7,960) $ 999
Shareholders' Equity - Additional Information (Details) shares in Millions, $ in Billions
Share Repurchase Program [Line Items]
Number of shares repurchased (in shares) | shares
Amount of share repurchases | $
6 Months Ended
Apr. 01, 2023 USD ($) shares
262
$ 38.1
Benefit Plans - Restricted Stock Units Activity and Related Information (Details) -
Restricted stock units $ / shares in Units, shares in Thousands, $ in Millions
Number of Restricted Stock Units
Beginning balance (in shares) | shares
RSUs granted (in shares) | shares
RSUs vested (in shares) | shares
RSUs canceled (in shares) | shares
Ending balance (in shares) | shares
Weighted-Average Grant Date Fair Value Per RSU
Beginning balance (in dollars per share) | $ / shares
RSUs granted (in dollars per share) | $ / shares
RSUs vested (in dollars per share) | $ / shares
RSUs canceled (in dollars per share) | $ / shares
Ending balance (in dollars per share) | $ / shares
Aggregate Fair Value
Aggregate fair value of RSUs | $
6 Months Ended
Apr. 01, 2023 USD ($) $ / shares shares
201,501
84,902
(54,795)
(4,671)
226,937
$ 109.48
149.73
86.72
122.79
$ 129.76
$ 37,422
Benefit Plans - Additional Information (Details) - USD ($) $ in Billions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to RSUs and stock options
Total unrecognized compensation cost related to RSUs and stock options, weighted-average
recognition period
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of RSUs as of the respective vesting dates
3 Months Ended 6 Months Ended
Apr. 01, 2023 Mar. 26, 2022 Apr. 01, 2023 Mar. 26, 2022
$ 23.2 $ 23.2
2 years 9 months 18 days
$ 1.1 $1 $8 $ 9.5
Benefit Plans - Summary of Share-Based Compensation Expense and the Related
Income Tax Benefit (Details) - USD ($) $ in Millions
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense
Income tax benefit related to share-based compensation expense
3 Months Ended 6 Months Ended
Apr. 01, 2023 Mar. 26, 2022 Apr. 01, 2023 Mar. 26, 2022
$ 2,263
2,716
2,028
2,602
571
5,897
$ 16,077
Segment Information and Geographic Data - Information by Reportable Segment
(Details) - USD ($) $ in Millions
Segment Reporting Information [Line Items]
Net sales
Operating income
Americas
Segment Reporting Information [Line Items]
Net sales
Operating income
Europe
Segment Reporting Information [Line Items]
Net sales
Operating income
Greater China
Segment Reporting Information [Line Items]
Net sales
Operating income
Japan
Segment Reporting Information [Line Items]
Net sales
Operating income
Rest of Asia Pacific
Segment Reporting Information [Line Items]
Net sales
Operating income
3 Months Ended 6 Months Ended
Apr. 01, 2023 Mar. 26, 2022 Apr. 01, 2023 Mar. 26, 2022