Financial Report
Financial Report
10-K
false
Sep. 29,
2018 2,018
FY
AAPL
APPLE INC
320,193
--09-29
Yes
Yes
No
Large Accelerated Filer
false
false
false
4,745,398
$ 828,880
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in
Millions
Income Statement [Abstract]
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)
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
(525) 224 75
523 1,315 7
382 (1,477) (741)
905 (162) (734)
$ (1) $ (77) $8
(149) (478) (7)
(104) 475 131
1,156 425 (863)
$ 21 $ 35 $ (31)
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:
Deferred revenue
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: 12,600,000 shares
authorized; 4,754,986 and 5,126,201 shares issued and outstanding, respectively
Retained earnings
Accumulated other comprehensive income/(loss)
Total shareholders’ equity
Total liabilities and shareholders’ equity
Sep. 29, 2018 Sep. 30, 2017
$ 25,913 $ 20,289
40,388 53,892
23,186 17,874
3,956 4,855
25,809 17,799
12,087 13,936
131,339 128,645
170,799 194,714
41,304 33,783
22,283 18,177
234,386 246,674
365,725 375,319
55,888 44,242
32,687 30,551
7,543 7,548
11,964 11,977
8,784 6,496
116,866 100,814
2,797 2,836
93,735 97,207
45,180 40,415
141,712 140,458
258,578 241,272
40,201 35,867
70,400 98,330
(3,454) (150)
107,147 134,047
$ 365,725 $ 375,319
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares Sep. 29, 2018 Sep. 30, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) ### ###
Common stock, shares issued (in shares) 4,754,986,000 5,126,201,000
Common stock, shares outstanding (in shares) 4,754,986,000 5,126,201,000
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in
Thousands, $ in Millions
Beginning balances (in shares) at Sep. 26, 2015
Beginning balances at Sep. 26, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income
Other comprehensive income/(loss)
Dividends and dividend equivalents declared
Repurchase of common stock (in shares)
Repurchase of common stock
Share-based compensation
Common stock issued, net of shares withheld for employee taxes (in shares)
Common stock issued, net of shares withheld for employee taxes
Tax benefit from equity awards, including transfer pricing adjustments
Ending balances (in shares) at Sep. 24, 2016
Ending balances at Sep. 24, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income
Other comprehensive income/(loss)
Dividends and dividend equivalents declared
Repurchase of common stock (in shares)
Repurchase of common stock
Share-based compensation
Common stock issued, net of shares withheld for employee taxes (in shares)
Common stock issued, net of shares withheld for employee taxes
Tax benefit from equity awards, including transfer pricing adjustments
Ending balances (in shares) at Sep. 30, 2017
Ending balances at Sep. 30, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of change in accounting principle
Net income
Other comprehensive income/(loss)
Dividends and dividend equivalents declared
Repurchase of common stock (in shares)
Repurchase of common stock
Share-based compensation
Common stock issued, net of shares withheld for employee taxes (in shares)
Common stock issued, net of shares withheld for employee taxes
Ending balances (in shares) at Sep. 29, 2018
Ending balances at Sep. 29, 2018
Total Common Stock and Additional Paid-In Capital Retained Earnings
5,578,753
$ 119,355 $ 27,416 $ 92,284
45,687 0 45,687
979 0 0
(12,188) $0 (12,188)
(279,609)
(29,000) $0 (29,000)
4,262 $ 4,262 0
37,022
(1,225) $ (806) (419)
379 $ 379 0
5,336,166
128,249 $ 31,251 96,364
48,351 0 48,351
(784) 0 0
(12,803) $0 (12,803)
(246,496)
(33,001) $0 (33,001)
4,909 $ 4,909 0
36,531
(1,494) $ (913) (581)
$ 620 $ 620 0
5,126,201 5,126,201
$ 134,047 $ 35,867 98,330
0 0 278
59,531 0 59,531
(3,026) 0 0
$ (13,735) $0 (13,735)
(405,500) (405,549)
$ (73,056) $0 (73,056)
5,443 $ 5,443 0
34,334
$ (2,057) $ (1,109) (948)
4,754,986 4,754,986
$ 107,147 $ 40,201 $ 70,400
Accumulated Other Comprehensive Income/(Loss)
$ (345)
0
979
0
0
0
0
0
634
0
(784)
0
0
0
0
0
(150)
(278)
0
(3,026)
0
0
0
$ (3,454)
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY CONSOLIDATED
STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
Statement of Stockholders' Equity [Abstract]
Dividends and dividend equivalents declared (in dollars per share or RSU)
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
Summary of Significant Accounting Policies Apple Inc. and its wholly-owned subsidiaries
(collectively “Apple” or the “Company”) designs, manufactures and markets mobile
Financial Instruments
Financial Instruments Cash, Cash Equivalents and Marketable Securities The following tables
show the Company’s cash and available-for-sale securities by significant investment category
Consolidated Financial Statement Details
Consolidated Financial Statement Details The following tables show the Company’s
consolidated financial statement details as of September 29, 2018 and September 30, 2017 (in
Income Taxes
Income Taxes U.S. Tax Cuts and Jobs Act On December 22, 2017, the U.S. enacted the Tax Cuts
and Jobs Act (the “Act”), which significantly changed U.S. tax law. The Act lowered the
Debt
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
12 Months Ended
Sep. 29, 2018
Shareholders’ Equity Share Repurchase Program During 2018 , the Company repurchased
405.5 million shares of its common stock for $73.1 billion in connection with two separate
Comprehensive
Income
Equity [Abstract]
Comprehensive Income
12 Months Ended
Sep. 29, 2018
Benefit Plans 2014 Employee Stock Plan In the second quarter of 2014, shareholders
approved the 2014 Employee Stock Plan (the “2014 Plan”) and terminated the Company’s
Commitments and Contingencies
Commitments and Contingencies Accrued Warranty and Indemnification The following table
shows changes in the Company’s accrued warranties and related costs for 2018 , 2017 and
Segment Information and Geographic Data
Segment Information and Geographic Data The Company reports segment information based
on the “management” approach. The management approach designates the internal reporting
Selected Quarterly Financial Information (Unaudited)
Selected Quarterly Financial Information (Unaudited) The following tables show a summary
of the Company’s quarterly financial information for each of the four quarters of 2018 and
Summary of Significant Accounting Policies (Policies)
The following table shows the computation of basic and diluted earnings per share for 2018 ,
2017 and 2016 (net income in millions and shares in thousands): 2018 2017 2016
Financial Instruments (Tables)
The following tables show the Company’s cash and available-for-sale securities by significant
investment
The category
following as of September
tables show information29, 2018the
about and September
Company’s 30, 2017 (in
marketable millions):
securities 2018
that had
beenfollowing
The in a continuous unrealized
tables show loss position
the Company’s for lessinstruments
derivative than 12 months and fair
at gross for 12 months
value as of or
September 29, 2018 and September 30, 2017 (in millions): 2018 Fair Value of Derivatives
The following table shows the pre-tax gains and losses of the Company’s derivative and non-
derivative instruments
The following designated
table shows as cash
the notional flow, net
amounts investment
of the Company’sandoutstanding
fair value hedges in OCI
derivative
instruments and credit risk amounts associated with outstanding or unsettled derivative
Consolidated Financial Statement Details (Tables)
Property, Plant and Equipment, Net 2018 2017 Land and buildings $ 16,216 $ 13,587
Machinery,
Other equipment
Non-Current and internal-use
Liabilities 2018 2017software
Long-term65,982
taxes54,210 Leasehold
payable $ 33,589improvements
$ 257 Deferred
tax liabilities
Other 426 31,504 Other
Income/(Expense), non-current
Net The following liabilities
table shows 11,165 8,654ofTotal
the detail otherother non-current
income/(expense),
net for 2018 , 2017 and 2016 (in millions): 2018 2017 2016 Interest and dividend income $
Income Taxes (Tables)
The provision for income taxes for 2018 , 2017 and 2016 , consisted of the following (in
millions):
A 2018 2017
reconciliation of the2016 Federal:
provision for Current $ 41,425
income taxes, with$ the
7,842 $ 7,652
amount Deferredby
computed (33,819 ) the
applying
statutory
As federal 29,
of September income
2018tax rate
and ( 24.5% in
September 30,2018
2017; 35% in 2017 and
, the significant 2016 ) to income
components of the before
Company’s deferred tax assets and liabilities were (in millions): 2018 2017 Deferred
The aggregate changes in the balance of gross unrecognized tax benefits, which excludes tax
interest and penalties, for 2018 , 2017 and 2016 , is as follows (in millions): 2018 2017 2016
Debt (Tables)
The following table provides a summary of cash flows associated with the issuance and
maturities
The of Commercial
following Paper
table provides for 2018of, 2017
a summary and 2016 (in
the Company’s termmillions):
debt as of2018 2017 2016
September 29,
2018future
The and September 30, 2017 :for
principal payments Maturities (calendar
the Company’s year)
Notes 2018
as of 2017 Amount
September (in are
29, 2018 millions)
as
follows (in millions): 2019 $ 8,797 2020 10,183 2021 8,750 2022 8,583 2023 9,395
Comprehensive Income (Tables)
Equity [Abstract]
Pre-tax Amounts Reclassified from AOCI into the Consolidated Statements of Operations
Changes in AOCI by Component
12 Months Ended
Sep. 29, 2018
The following table shows the pre-tax amounts reclassified from AOCI into the Consolidated
Statements
The of Operations,
following table shows and the associated
the changes financial
in AOCI statement
by component for line
2018 item,
and for 2018
2017 (in and 2017
millions):
Cumulative Foreign Currency Translation Unrealized Gains/Losses on Derivative Instruments
Benefit Plans (Tables)
A summary of the Company’s RSU activity and related information for 2018 , 2017 and 2016 ,
is asfollowing
The follows: Number of RSUs
table shows (in thousands)
a summary Weighted-Average
of the share-based Grant Date
compensation Fair Value
expense Perin
included
the Consolidated Statements of Operations for 2018 , 2017 and 2016 (in millions): 2018 2017
Commitments and Contingencies (Tables)
The following table shows changes in the Company’s accrued warranties and related costs for
2018 , 2017
Future and 2016
minimum lease(in millions):
payments 2018noncancelable
under 2017 2016 Beginning
operatingaccrued warranty
leases having andor
initial related
remaining
Future terms in
payments excess
under of one year as
noncancelable of Septemberpurchase
unconditional 29, 2018obligations
, are as follows (inamillions):
having remaining
term in excess of one year as of September 29, 2018 , are as follows (in millions): 2019 $ 2,447
Segment Information and Geographic Data (Tables)
The following table shows information by reportable segment for 2018 , 2017 and 2016 (in
millions):
A 2018 2017
reconciliation of the2016 Americas:
Company’s Net sales
segment $ 112,093
operating $ 96,600
income to the $Consolidated
86,613 Operating income
Statements
of Operations
Net for 2018
sales for 2018 , 2017
, 2017 and 2016
and 2016 is as follows
and long-lived (in millions):
assets 2018 2017
as of September 2016and
29, 2018 Segment
September 30, 2017 were as follows (in millions): 2018 2017 2016 Net sales:
Net sales by product for 2018 , 2017 and 2016 were as follows (in millions): 2018 2017 U.S. $ 98,061 $
2016
iPhone (1) $ 166,699 $ 141,319 $ 136,700 iPad (1) 18,805 19,222 20,628 Mac (1) 25,484
Selected Quarterly Financial Information (Unaudited) (Tables)
The following tables show a summary of the Company’s quarterly financial information for
each of the four quarters of 2018 and 2017 (in millions, except per share amounts): Fourth
Summary of Significant Accounting Policies - Additional Information (Details) $ in
Millions
Significant Accounting Policies [Line Items]
Deliverables in arrangements (up to) | Item
Depreciation and amortization expense
Non-cash investing activities involving property, plant and equipment, net increase to
accounts
Accountingpayable and other
Standards Updatecurrent liabilities
2016-09
Significant Accounting Policies [Line Items]
Increase to cash provided by operating activities
Building | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life
Machinery and Equipment | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life
Machinery and Equipment | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life
Internal-Use Software | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life
Internal-Use Software | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful life
12 Months Ended
Sep. 29, 2018USD ($)Item Sep. 30, 2017USD ($) Sep. 24, 2016USD ($)
3
$ 9,300 $ 8,200 $ 8,300
$ 3,400
$ 627 $ 407
30 years
1 year
5 years
3 years
5 years
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
Sep. 29, 2018 Jun. 30, 2018 Mar. 31, 2018 Dec. 30, 2017 Sep. 30, 2017 Jul. 01, 2017
$ 241,180 $ 268,399
209 1,278
(4,289) (782)
237,100 268,895
25,913 20,289 $ 20,484 $ 21,120
40,388 53,892
170,799 194,714
20,300
11,575 7,982
0 0
0 0
11,575 7,982
11,575 7,982
0 0
0 0
8,882 7,333
0 0
(116) (88)
8,766 7,245
8,083 6,534
683 711
0 0
8,083 6,534
0 0
0 0
8,083 6,534
8,083 6,534
0 0
0 0
799 799
0 0
(116) (88)
683 711
0 0
683 711
0 0
220,723 253,084
209 1,278
(4,173) (694)
216,759 253,668
6,255 5,773
39,705 53,181
170,799 194,714
47,296 55,254
0 58
(1,202) (230)
46,094 55,082
1,613 865
7,606 17,228
36,875 36,989
4,127 5,162
0 2
(48) (9)
4,079 5,155
1,732 1,439
360 2,057
1,987 1,659
21,601 7,827
49 210
(250) (37)
21,400 8,000
0 9
3,355 123
18,045 7,868
3,074 5,832
0 0
0 0
3,074 5,832
1,247 1,142
1,330 3,918
497 772
2,573 3,640
0 0
0 0
2,573 3,640
1,663 2,146
910 1,494
0 0
123,001 152,724
152 969
(2,038) (242)
121,115 153,451
0 172
25,162 27,591
95,953 125,688
946 961
0 4
(12) (1)
934 964
0 0
178 114
756 850
18,105 21,684
8 35
(623) (175)
17,490 21,544
0 0
804 656
$ 16,686 $ 20,888
Financial Instruments - Additional Information (Details) $ in Millions
9 years
$ 2,100 $ 1,400
2,100 1,400
$ 138 $ 32
1 2
10.00% 10.00%
10.00%
59.00% 59.00%
2 3
62.00% 42.00%
12.00% 19.00%
10.00%
$ 1,000
$ 35
20 20
85 (40)
$ (198) $ 606
12 months
24 years
1 year
5 years
Financial Instruments - Marketable Securities in a Continuous Unrealized Loss Position
(Details) - USD ($) $ in Millions
Fair Value of Marketable Securities
Continuous Unrealized Losses, Less than 12 Months
Continuous Unrealized Losses, 12 Months or Greater
Continuous Unrealized Losses, Total
Unrealized Losses
Continuous Unrealized Losses, Less than 12 Months
Continuous Unrealized Losses, 12 Months or Greater
Continuous Unrealized Losses, Total
Sep. 29, 2018 Sep. 30, 2017
$ 126,238 $ 101,986
60,599 8,290
186,837 110,276
(2,400) (596)
(1,889) (186)
$ (4,289) $ (782)
Financial Instruments - Derivative Instruments at Gross Fair Value (Details) - Level 2 -
USD ($) $ 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 | Interest rate contracts
Derivative assets:
Fair value of derivative assets
Other current assets and other non-current assets | Derivatives designated as accounting
hedges | Foreign
Derivative exchange contracts
assets:
Fair value of derivative assets
Other current assets and other non-current assets | Derivatives designated as accounting
hedges | Interest
Derivative rate contracts
assets:
Fair value of derivative assets
Other current assets and other non-current assets | Derivatives not designated as accounting
hedges | Foreign
Derivative exchange contracts
assets:
Fair value of derivative assets
Other current assets and other non-current assets | Derivatives not designated as accounting
hedges | Interest
Derivative rate contracts
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 | Interest rate contracts
Derivative liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Derivatives designated as
accounting
Derivative hedges | Foreign exchange contracts
liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Derivatives designated as
accounting
Derivative hedges | Interest rate contracts
liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Derivatives not designated as
accounting
Derivative hedges | Foreign exchange contracts
liabilities:
Fair value of derivative liabilities
Other current liabilities and other non-current liabilities | Derivatives not designated as
accounting
Derivative hedges | Interest rate contracts
liabilities:
Fair value of derivative liabilities
Sep. 29, 2018 Sep. 30, 2017
$ 1,274 $ 1,412
218
1,015 1,049
218
259 363
680 1,260
1,456 303
543 759
1,456 303
137 501
$0 $0
Financial Instruments - Pre-Tax Gains and Losses of Derivative and Non-Derivative
Instruments Designated as Hedges (Details) - USD ($) $ in Millions
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) recognized in OCI - effective portion
Gains/(Losses) reclassified from AOCI into net income - effective portion
Cash flow hedges | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) recognized in OCI - effective portion
Gains/(Losses) reclassified from AOCI into net income - effective portion
Cash flow hedges | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) recognized in OCI - effective portion
Gains/(Losses) reclassified from AOCI into net income - effective portion
Net investment hedges | Foreign currency debt
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) recognized in OCI - effective portion
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) on derivative instruments
Gains/(Losses) related to hedged items
Fair value hedges | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) on derivative instruments
Gains/(Losses) related to hedged items
Fair value hedges | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(Losses) on derivative instruments
Gains/(Losses) related to hedged items
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
$ 683 $ 1,804 $ 52
(481) 1,956 874
1 7 (57)
1 (2) (11)
4 67 (258)
(168) 0 0
167 0 0
$ 65,368 $ 56,156
1,015 1,049
33,250 33,000
0 218
63,062 69,774
$ 259 $ 363
Consolidated Financial Statement Details - Property, Plant and Equipment, Net (Details)
- USD ($) $ in Millions
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment
Accumulated depreciation and amortization
Total property, plant and equipment, net
Land and buildings
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment
Machinery, equipment and internal-use software
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment
Leasehold improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment
Sep. 29, 2018 Sep. 30, 2017
$ 90,403 $ 75,076
(49,099) (41,293)
41,304 33,783
16,216 13,587
65,982 54,210
$ 8,205 $ 7,279
Consolidated Financial Statement Details - Other Non-Current Liabilities (Details) - USD
($) $ in Millions
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term taxes payable
Deferred tax liabilities
Other non-current liabilities
Total other non-current liabilities
Sep. 29, 2018 Sep. 30, 2017
$ 33,589 $ 257
426 31,504
11,165 8,654
$ 45,180 $ 40,415
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 expense, net
Total other income/(expense), net
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
Federal:
Current
Deferred
Federal income tax expense/(benefit)
State:
Current
Deferred
State income tax expense/(benefit)
Foreign:
Current
Deferred
Foreign income tax expense/(benefit)
Provision for income taxes
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
9,694
7,400
1,400
236
800
2
€ 13.1
€ 1.2
(36,100)
(278)
278
(278)
$ 278
Sep. 30, 2017USD ($) Sep. 24, 2016USD ($) Sep. 26, 2015USD ($)
35.00% 35.00%
$ 36,355
(5,966) $ (4,938)
44,700 41,100
620 379
8,407 7,724 $ 6,900
2,500
1,200
165 295
0 0
$0 $0
Income Taxes - Reconciliation of the Provision for Income Taxes (Details) - USD ($) $ in
Millions
Income Tax Disclosure [Abstract]
Computed expected tax
State taxes, net of federal effect
Impacts of the Act
Earnings of foreign subsidiaries
Domestic production activities deduction
Research and development credit, net
Other
Provision for income taxes
Effective tax rate
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
$ 3,151 $ 4,019
137 1,230
1,141 1,521
0 667
513 703
871 0
797 834
6,610 8,974
275 36,355
501 207
776 36,562
$ 5,834
$ (27,588)
Income Taxes - Aggregate Changes in Gross Unrecognized Tax Benefits, Excluding
Interest and Penalties (Details) - USD ($) $ in Millions
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to
Examined Tax Returns [Roll Forward]
Beginning balances
Increases related to tax positions taken during a prior year
Decreases related to tax positions taken during a prior year
Increases related to tax positions taken during the current year
Decreases related to settlements with taxing authorities
Decreases related to expiration of statute of limitations
Ending balances
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
$ 11,977
1.20%
$ 104,021
2,200 $ 1,400
106,100
$ 1,600
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
Proceeds from/(Repayments of) commercial paper, net
Total change in commercial paper, net
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
### ###
(218,000,000) (225,000,000)
(1,456,000,000) (93,000,000)
(8,784,000,000) (6,496,000,000)
93,735,000,000 97,207,000,000
17,000,000,000
$0 $ 2,000,000,000
0.00% 1.10%
$ 8,500,000,000 $ 12,500,000,000
2,023
2,043
2.40%
2.44% 1.08%
3.85%
3.91% 3.91%
$ 12,000,000,000
$ 1,000,000,000 $ 1,000,000,000
2,019
2.64% 1.61%
$ 8,500,000,000 $ 8,500,000,000
2,019
2,044
2.10%
2.64% 1.61%
4.45%
4.48% 4.48%
$ 27,300,000,000
$ 1,507,000,000 $ 1,549,000,000
2,019
2,020
1.87% 1.56%
2.64% 1.87%
$ 24,410,000,000 $ 24,522,000,000
2,019
2,045
0.35%
0.28% 0.28%
4.375%
4.51% 4.51%
$ 24,900,000,000
$ 1,350,000,000 $ 1,350,000,000
2,019
2,021
2.48% 1.45%
3.44% 2.44%
$ 23,059,000,000 $ 23,645,000,000
2,019
2,046
1.10%
1.13% 1.13%
4.65%
4.78% 4.78%
$ 28,700,000,000
$ 3,250,000,000 $ 3,250,000,000
2,019
2,022
2.41% 1.38%
2.84% 1.81%
$ 25,617,000,000 $ 25,705,000,000
2,019
2,047
0.875%
1.54% 1.51%
4.30%
4.30% 4.30%
$ 7,000,000,000
$ 1,000,000,000 $0
2,019
1.80%
1.83% 0.00%
$ 1,000,000,000 $0
2,020
2.00%
2.03% 0.00%
$ 750,000,000 $0
2,023
2.40%
2.66% 0.00%
$ 1,500,000,000 $0
2,025
2.75%
2.77% 0.00%
$ 1,500,000,000 $0
2,027
3.00%
3.05% 0.00%
$ 1,250,000,000 $0
2,047
3.75%
3.80% 0.00%
Debt - Future Principal Payments for Term Debt (Details) - USD ($) $ in Millions
Debt Disclosure [Abstract]
2,019
2,020
2,021
2,022
2,023
Thereafter
Total term debt
Sep. 29, 2018 Sep. 30, 2017
$ 8,797
10,183
8,750
8,583
9,395
58,485
$ 104,193 $ 104,021
Shareholders' Equity - Additional Information (Details) - USD ($) shares in Millions
405.5
### ### ###
###
29,000,000,000
###
###
Comprehensive Income - Pre-tax Amounts Reclassified from AOCI into Consolidated
Statements of Operations (Details) - USD ($) $ in Millions
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line
Items]
Net sales
Cost of sales
Other income/(expense), net
Total amounts reclassified from AOCI
Reclassifications out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line
Items]
Total amounts reclassified from AOCI
Reclassifications out of AOCI | Unrealized (gains)/losses on derivative instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line
Items]
Total amounts reclassified from AOCI
Reclassifications out of AOCI | Unrealized (gains)/losses on derivative instruments | Foreign
exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line
Items]
Net sales
Cost of sales
Other income/(expense), net
Reclassifications out of AOCI | Unrealized (gains)/losses on derivative instruments | Interest
rate contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line
Items]
Other income/(expense), net
Reclassifications out of AOCI | Unrealized (gains)/losses on marketable securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line
Items]
Other income/(expense), net
3 Months Ended
Sep. 29, 2018 Jun. 30, 2018 Mar. 31, 2018 Dec. 30, 2017 Sep. 30, 2017 Jul. 01, 2017
466 (2,051)
486 (1,952)
214 (662)
(70) (654)
344 (638)
(2) 2
$ (20) $ (99)
Comprehensive Income - Change in AOCI by Component (Details) - USD ($) $ in Millions
(354) (578)
(524) 301
0 0
(1) (77)
(525) 224
(176)
(1,055) (354) (578)
(124) 38
672 1,793
486 (1,952)
(253) (3)
905 (162)
29
810 (124) 38
328 1,174
(4,563) (1,207)
(20) (99)
1,177 460
(3,406) (846)
(131)
(3,209) 328 1,174
$ 18,500
16,000,000 15,400,000 15,900,000
$ 2,700,000,000 $ 2,000,000,000 $ 1,700,000,000
1,900,000,000 1,600,000,000 1,400,000,000
$ 9,400,000,000
2 years 6 months
50.00%
100.00%
6.00%
36,500,000
85.00%
6 months
10.00%
$ 25,000
280,200,000
4 years
1
2
1,100,000
2
Mar. 29, 2014shares
385,000,000
Benefit Plans - Restricted Stock Units Activity and Related Information (Details) -
Restricted stock units - USD ($) $ / shares in Units, shares in Thousands, $ in Millions
Number of Restricted Stock Units
Beginning balance (in shares)
RSUs granted (in shares)
RSUs vested (in shares)
RSUs canceled (in shares)
Ending balance (in shares)
Weighted-Average Grant Date Fair Value Per RSU
Beginning balance (in dollars per share)
RSUs granted (in dollars per share)
RSUs vested (in dollars per share)
RSUs canceled (in dollars per share)
Ending balance (in dollars per share)
Aggregate Fair Value
Aggregate fair value of restricted stock units
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
$ 20,803
Benefit Plans - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in
Millions
Share-based Compensation Arrangement by Share-based Payment Award,
Compensation Cost [Line Items]
Share-based compensation expense
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award,
Compensation Cost [Line Items]
Share-based compensation expense
Research and development
Share-based Compensation Arrangement by Share-based Payment Award,
Compensation Cost [Line Items]
Share-based compensation expense
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award,
Compensation Cost [Line Items]
Share-based compensation expense
12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
150 days
$ 9,627
10 years
$ 1,200 $ 1,100 $ 939
$ 302
$ 440
$ 503
Commitments and Contingencies - Future Minimum Lease Payments Under
Noncancelable Operating Leases (Details) $ in Millions
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,019
2,020
2,021
2,022
2,023
Thereafter
Total
Sep. 29, 2018USD ($)
$ 1,298
1,289
1,218
1,038
800
3,984
$ 9,627
Commitments and Contingencies - Future Payments Under Unconditional Purchase
Obligations (Details) $ in Millions
Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract]
2,019
2,020
2,021
2,022
2,023
Thereafter
Total
Sep. 29, 2018USD ($)
$ 2,447
3,202
1,749
1,596
268
66
$ 9,328
Segment Information and Geographic Data - Summary 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
Sep. 29, 2018 Jun. 30, 2018 Mar. 31, 2018 Dec. 30, 2017 Sep. 30, 2017 Jul. 01, 2017
$ 41,304 $ 33,783
23,963 20,637
13,268 10,211
$ 4,073 $ 2,935
Segment Information and Geographic Data - Net Sales by Product (Details) - USD ($) $ in
Millions
Segment Reporting Information [Line Items]
Net sales
iPhone
Segment Reporting Information [Line Items]
Net sales
iPad
Segment Reporting Information [Line Items]
Net sales
Mac
Segment Reporting Information [Line Items]
Net sales
Services
Segment Reporting Information [Line Items]
Net sales
Services | Favorable final resolution of various lawsuits
Segment Reporting Information [Line Items]
Net sales
Services | Change in estimate based on the availability of additional supporting information
Segment Reporting Information [Line Items]
Net sales
Other Products
Segment Reporting Information [Line Items]
Net sales
3 Months Ended
Sep. 29, 2018 Jun. 30, 2018 Mar. 31, 2018 Dec. 30, 2017 Sep. 30, 2017 Jul. 01, 2017
236
640