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CONSOLIDATED STATEMENTS OF OPERATIONS – USD ($) shares in Thousands, $ in
Millions
Net sales
Cost of sales
Gross margin
Operating expenses:
Research and development
Selling, general and administrative
Total operating expenses
Operating income
Other income/(expense), net
Income before provision for income taxes
Provision for income taxes
Net income
Earnings per share:
Basic (in dollars per share)
Diluted (in dollars per share)
Shares used in computing earnings per share:
Basic (in shares)
Diluted (in shares)
Products
Net sales
Cost of sales
Services
Net sales
Cost of sales
12 Months Ended
Sep. 24, 2022
Sep. 25, 2021 Sep. 26, 2020
$ 394,328
223,546
170,782
$ 365,817
212,981
152,836
$ 274,515
169,559
104,956
26,251
25,094
51,345
119,437
(334)
119,103
19,300
$ 99,803
21,914
21,973
43,887
108,949
258
109,207
14,527
$ 94,680
18,752
19,916
38,668
66,288
803
67,091
9,680
$ 57,411
$ 6.15
$ 6.11
$ 5.67
$ 5.61
$ 3.31
$ 3.28
16,215,963
16,325,819
16,701,272
16,864,919
17,352,119
17,528,214
$ 316,199
201,471
$ 297,392
192,266
$ 220,747
151,286
78,129
$ 22,075
68,425
$ 20,715
53,768
$ 18,273
CONSOLIDATED BALANCE SHEETS – USD ($) $ in Millions
Current assets:
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Vendor non-trade receivables
Other current assets
Total current assets
Non-current assets:
Marketable securities
Property, plant and equipment, net
Other non-current assets
Total non-current assets
Total assets
Current liabilities:
Accounts payable
Other current liabilities
Deferred revenue
Commercial paper
Term debt
Total current liabilities
Non-current liabilities:
Term debt
Other non-current liabilities
Total non-current liabilities
Total liabilities
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000
shares authorized; 15,943,425 and 16,426,786 shares issued and outstanding,
respectively
Retained earnings/(Accumulated deficit)
Accumulated other comprehensive income/(loss)
Total shareholders’ equity
Total liabilities and shareholders’ equity
Sep. 24, 2022 Sep. 25, 2021
$ 23,646
24,658
28,184
4,946
32,748
21,223
135,405
$ 34,940
27,699
26,278
6,580
25,228
14,111
134,836
120,805
42,117
54,428
217,350
352,755
127,877
39,440
48,849
216,166
351,002
64,115
60,845
7,912
9,982
11,128
153,982
54,763
47,493
7,612
6,000
9,613
125,481
98,959
49,142
148,101
302,083
109,106
53,325
162,431
287,912
64,849
57,365
(3,068)
(11,109)
50,672
$ 352,755
5,562
163
63,090
$ 351,002
CONSOLIDATED STATEMENTS OF CASH FLOWS – 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
Deferred income tax expense/(benefit)
Other
Changes in operating assets and liabilities:
Accounts receivable, net
Inventories
Vendor non-trade receivables
Other current and non-current assets
Accounts payable
Deferred revenue
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
Payments made in connection with business acquisitions, net
Other
Cash 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
Proceeds from issuance of term debt, net
Repayments of term debt
Proceeds from/(Repayments of) commercial paper, net
Other
Cash used in financing activities
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
12 Months Ended
Sep. 24, 2022
Sep. 25, 2021 Sep. 26, 2020
$ 35,929
$ 39,789
$ 50,224
99,803
94,680
57,411
11,104
9,038
895
111
11,284
7,906
(4,774)
(147)
11,056
6,829
(215)
(97)
(1,823)
1,484
(7,520)
(6,499)
9,448
478
5,632
122,151
(10,125)
(2,642)
(3,903)
(8,042)
12,326
1,676
5,799
104,038
6,917
(127)
1,553
(9,588)
(4,062)
2,081
8,916
80,674
(76,923)
29,917
37,446
(10,708)
(306)
(1,780)
(22,354)
(109,558)
59,023
47,460
(11,085)
(33)
(352)
(14,545)
(114,938)
69,918
50,473
(7,309)
(1,524)
(909)
(4,289)
(6,223)
(6,556)
(3,634)
(14,841)
(89,402)
5,465
(9,543)
3,955
(160)
(110,749)
(10,952)
24,977
(14,467)
(85,971)
20,393
(8,750)
1,022
976
(93,353)
(3,860)
35,929
(14,081)
(72,358)
16,091
(12,629)
(963)
754
(86,820)
(10,435)
39,789
19,573
$ 2,865
25,385
$ 2,687
9,501
$ 3,002
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