|
|
|
|
|
|
|
|
|
|
|
|
| | | | | | | |
| | | | | | | | | |
Unamortized premium/(discount) and issuance costs, net | | | () | | | | | () | | | |
| Hedge accounting fair value adjustments | | | () | | | | | () | | | |
Total term debt | | | | | | | | | | | |
| Less: Current portion of term debt | | | () | | | | | () | | | |
| Total non-current portion of term debt | | | $ | | | | | | $ | | | | |
To manage interest rate risk on certain of its U.S. dollar–denominated fixed-rate notes, the Company uses interest rate swaps to effectively convert the fixed interest rates to floating interest rates on a portion of these notes. Additionally, to manage foreign exchange rate risk on certain of its foreign currency–denominated notes, the Company uses cross-currency swaps to effectively convert these notes to U.S. dollar–denominated notes.
The effective interest rates for the Notes include the interest on the Notes, amortization of the discount or premium and, if applicable, adjustments related to hedging.
| | 2026 | | |
| 2027 | | |
| 2028 | | |
| 2029 | | |
| Thereafter | | |
| Total term debt principal | $ | | |
Apple Inc. | 2024 Form 10-K | 43
billion and $ billion, respectively.Note 10 –
million shares of its common stock for $ billion. The Company’s share repurchase programs do not obligate the Company to acquire a minimum amount of shares. Under the programs, shares may be repurchased in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.Shares of Common Stock
| | | | | | | | Common stock repurchased | () | | | () | | | () | |
| Common stock issued, net of shares withheld for employee taxes | | | | | | | | |
| Common stock outstanding, ending balances | | | | | | | | |
Note 11 –
, based on continued employment, and are settled upon vesting in shares of the Company’s common stock on a -for-one basis. All RSUs granted under the 2022 Plan have dividend equivalent rights, which entitle holders of RSUs to the same dividend value per share as holders of common stock. A maximum of approximately billion shares were authorized for issuance pursuant to 2022 Plan awards at the time the plan was approved on March 4, 2022.2014 Employee Stock Plan
The Apple Inc. 2014 Employee Stock Plan, as amended and restated (the “2014 Plan”), is a shareholder-approved plan that provided for broad-based equity grants to employees, including executive officers. The 2014 Plan permitted the granting of the same types of equity awards with substantially the same terms as the 2022 Plan. The 2014 Plan also permitted the granting of cash bonus awards. In the third quarter of 2022, the Company terminated the authority to grant new awards under the 2014 Plan.
Apple Inc. | 2024 Form 10-K | 44
| | $ | | | | | | RSUs granted | | | | $ | | | | |
| RSUs vested | () | | | $ | | | | |
| RSUs canceled | () | | | $ | | | | |
| Balance as of September 24, 2022 | | | | $ | | | | |
| RSUs granted | | | | $ | | | | |
| RSUs vested | () | | | $ | | | | |
| RSUs canceled | () | | | $ | | | | |
| Balance as of September 30, 2023 | | | | $ | | | | |
| RSUs granted | | | | $ | | | | |
| RSUs vested | () | | | $ | | | | |
| RSUs canceled | () | | | $ | | | | |
| Balance as of September 28, 2024 | | | | $ | | | | $ | | |
The fair value as of the respective vesting dates of RSUs was $ billion, $ billion and $ billion for 2024, 2023 and 2022, respectively. The majority of RSUs that vested in 2024, 2023 and 2022 were net share settled such that the Company withheld shares with a value equivalent to the employees’ obligation for the applicable income and other employment taxes, and remitted cash to the appropriate taxing authorities. The total shares withheld were approximately million, million and million for 2024, 2023 and 2022, respectively, and were based on the value of the RSUs on their respective vesting dates as determined by the Company’s closing stock price. Total payments to taxing authorities for employees’ tax obligations were $ billion in both 2024 and 2023 and $ billion in 2022.
Share-Based Compensation
| | $ | | | | $ | | | | Income tax benefit related to share-based compensation expense | $ | () | | | $ | () | | | $ | () | |
As of September 28, 2024, the total unrecognized compensation cost related to outstanding RSUs was $ billion, which the Company expects to recognize over a weighted-average period of years.
Note 12 –
| | 2026 | | |
| 2027 | | |
| 2028 | | |
| 2029 | | |
| Thereafter | | |
| Total | $ | | |
Apple Inc. | 2024 Form 10-K | 45
Note 13 –
Apple Inc. | 2024 Form 10-K | 46
| | $ | | | | $ | | | | Operating income | $ | | | | $ | | | | $ | | |
| | | | | |
| Europe: | | | | | |
| Net sales | $ | | | | $ | | | | $ | | |
| Operating income | $ | | | | $ | | | | $ | | |
| | | | | |
| Greater China: | | | | | |
| Net sales | $ | | | | $ | | | | $ | | |
| Operating income | $ | | | | $ | | | | $ | | |
| | | | | |
| Japan: | | | | | |
| Net sales | $ | | | | $ | | | | $ | | |
| Operating income | $ | | | | $ | | | | $ | | |
| | | | | |
| Rest of Asia Pacific: | | | | | |
| Net sales | $ | | | | $ | | | | $ | | |
| Operating income | $ | | | | $ | | | | $ | | |
| | $ | | | | $ | | | | Research and development expense | () | | | () | | | () | |
Other corporate expenses, net (1) | () | | | () | | | () | |
| Total operating income | $ | | | | $ | | | | $ | | |
(1)Includes general and administrative compensation costs, various nonrecurring charges, and other separately managed costs.
| | $ | | | | $ | | | China (1) | | | | | | | | |
| Other countries | | | | | | | | |
| Total net sales | $ | | | | $ | | | | $ | | |
| | | | | | | | | | | |
| 2024 | | 2023 |
| Long-lived assets: | | | |
| U.S. | $ | | | | $ | | |
China (1) | | | | | |
| Other countries | | | | | |
| Total long-lived assets | $ | | | | $ | | |
(1)China includes Hong Kong and Taiwan.
Apple Inc. | 2024 Form 10-K | 47
Report of Independent Registered Public Accounting Firm
To the Shareholders and the Board of Directors of Apple Inc.
Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of Apple Inc. (the “Company”) as of September 28, 2024 and September 30, 2023, the related consolidated statements of operations, comprehensive income, shareholders’ equity and cash flows for each of the three years in the period ended September 28, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company at September 28, 2024 and September 30, 2023, and the results of its operations and its cash flows for each of the three years in the period ended September 28, 2024, in conformity with U.S. generally accepted accounting principles (“GAAP”).
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the Company’s internal control over financial reporting as of September 28, 2024, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated November 1, 2024 expressed an unqualified opinion thereon.
Basis for Opinion
These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Critical Audit Matter
The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the account or disclosure to which it relates.
| | | | | |
| Uncertain Tax Positions |
| Description of the Matter | As discussed in Note 7 to the financial statements, the Company is subject to income taxes in the U.S. and numerous foreign jurisdictions. As of September 28, 2024, the total amount of gross unrecognized tax benefits was $22.0 billion, of which $10.8 billion, if recognized, would impact the Company’s effective tax rate. In accounting for some of the uncertain tax positions, the Company uses significant judgment in the interpretation and application of GAAP and complex domestic and international tax laws. Auditing management’s evaluation of whether an uncertain tax position is more likely than not to be sustained and the measurement of the benefit of various tax positions can be complex, involves significant judgment, and is based on interpretations of tax laws and legal rulings. |
Apple Inc. | 2024 Form 10-K | 48
| | | | | |
How We Addressed the
Matter in Our Audit | We tested controls relating to the evaluation of uncertain tax positions, including controls over management’s assessment as to whether tax positions are more likely than not to be sustained, management’s process to measure the benefit of its tax positions that qualify for recognition, and the related disclosures. We evaluated the Company’s assessment of which tax positions are more likely than not to be sustained and the related measurement of the amount of tax benefit that qualifies for recognition. Our audit procedures included, among others, reading and evaluating management’s assumptions and analysis, and, as applicable, the Company’s communications with taxing authorities, that detailed the basis and technical merits of the uncertain tax positions. We involved our tax subject matter resources in assessing the technical merits of certain of the Company’s tax positions based on our knowledge of relevant tax laws and experience with related taxing authorities. For a certain tax position, we also received an external legal counsel confirmation letter and discussed the matter with external advisors and the Company’s tax personnel. In addition, we evaluated the Company’s disclosure in relation to these matters included in Note 7 to the financial statements. |
/s/
We have served as the Company’s auditor since 2009.
November 1, 2024
Apple Inc. | 2024 Form 10-K | 49
Report of Independent Registered Public Accounting Firm
To the Shareholders and the Board of Directors of Apple Inc.
Opinion on Internal Control Over Financial Reporting
We have audited Apple Inc.’s internal control over financial reporting as of September 28, 2024, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the “COSO criteria”). In our opinion, Apple Inc. (the “Company”) maintained, in all material respects, effective internal control over financial reporting as of September 28, 2024, based on the COSO criteria.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the consolidated balance sheets of the Company as of September 28, 2024 and September 30, 2023, the related consolidated statements of operations, comprehensive income, shareholders’ equity and cash flows for each of the three years in the period ended September 28, 2024, and the related notes and our report dated November 1, 2024 expressed an unqualified opinion thereon.
Basis for Opinion
The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management’s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.
Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
Definition and Limitations of Internal Control Over Financial Reporting
A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
/s/ Ernst & Young LLP
San Jose, California
November 1, 2024
Apple Inc. | 2024 Form 10-K | 50
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Based on an evaluation under the supervision and with the participation of the Company’s management, the Company’s principal executive officer and principal financial officer have concluded that the Company’s disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act were effective as of September 28, 2024 to provide reasonable assurance that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms and (ii) accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
Inherent Limitations over Internal Controls
The Company’s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. The Company’s internal control over financial reporting includes those policies and procedures that:
(i)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the Company’s assets;
(ii)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that the Company’s receipts and expenditures are being made only in accordance with authorizations of the Company’s management and directors; and
(iii)provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.
Management, including the Company’s Chief Executive Officer and Chief Financial Officer, does not expect that the Company’s internal controls will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of internal controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Also, any evaluation of the effectiveness of controls in future periods are subject to the risk that those internal controls may become inadequate because of changes in business conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Management’s Annual Report on Internal Control over Financial Reporting
The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Management conducted an assessment of the effectiveness of the Company’s internal control over financial reporting based on the criteria set forth in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework). Based on the Company’s assessment, management has concluded that its internal control over financial reporting was effective as of September 28, 2024 to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with GAAP. The Company’s independent registered public accounting firm, Ernst & Young LLP, has issued an audit report on the Company’s internal control over financial reporting, which appears in Part II, Item 8 of this Form 10-K.
Changes in Internal Control over Financial Reporting
There were no changes in the Company’s internal control over financial reporting during the fourth quarter of 2024, which were identified in connection with management’s evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
Apple Inc. | 2024 Form 10-K | 51
Item 9B. Other Information
Insider Trading Arrangements
, , the Company’s , into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The plan provides for the sale, subject to certain price limits, of shares vesting between April 1, 2025 and October 1, 2026, pursuant to certain equity awards granted to Ms. O’Brien, excluding any shares withheld by the Company to satisfy income tax withholding and remittance obligations. Ms. O’Brien’s plan will on , subject to early termination in accordance with the terms of the plan., , the Company’s , into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The plan provides for the sale, subject to certain price limits, of up to shares of common stock, as well as shares vesting between April 1, 2025 and October 1, 2025, pursuant to certain equity awards granted to Mr. Williams, excluding any shares withheld by the Company to satisfy income tax withholding and remittance obligations. Mr. Williams’ plan will expire on , subject to early termination in accordance with the terms of the plan.Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Not applicable.
PART III
Item 10. Directors, Executive Officers and Corporate Governance
The Company an insider trading policy governing the purchase, sale and other dispositions of the Company’s securities that applies to all Company personnel, including directors, officers, employees, and other covered persons. The Company also follows procedures for the repurchase of its securities. The Company believes that its insider trading policy and repurchase procedures are reasonably designed to promote compliance with insider trading laws, rules and regulations, and listing standards applicable to the Company. A copy of the Company’s insider trading policy is filed as Exhibit 19.1 to this Form 10-K.
The remaining information required by this Item will be included in the Company’s definitive proxy statement to be filed with the SEC within 120 days after September 28, 2024, in connection with the solicitation of proxies for the Company’s 2025 annual meeting of shareholders (the “2025 Proxy Statement”), and is incorporated herein by reference.
Item 11. Executive Compensation
The information required by this Item will be included in the 2025 Proxy Statement, and is incorporated herein by reference.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
The information required by this Item will be included in the 2025 Proxy Statement, and is incorporated herein by reference.
Item 13. Certain Relationships and Related Transactions, and Director Independence
The information required by this Item will be included in the 2025 Proxy Statement, and is incorporated herein by reference.
Item 14. Principal Accountant Fees and Services
The information required by this Item will be included in the 2025 Proxy Statement, and is incorporated herein by reference.
Apple Inc. | 2024 Form 10-K | 52
PART IV
Item 15. Exhibit and Financial Statement Schedules
(a)Documents filed as part of this report
(1)All financial statements
| | | | | | | | |
| Index to Consolidated Financial Statements | | Page |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
*Ernst & Young LLP, PCAOB Firm ID No. 000.
(2)Financial Statement Schedules
All financial statement schedules have been omitted, since the required information is not applicable or is not present in amounts sufficient to require submission of the schedule, or because the information required is included in the consolidated financial statements and accompanying notes included in this Form 10-K.
(3)Exhibits required by Item 601 of Regulation S-K (1)
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Incorporated by Reference |
| Exhibit Number | | Exhibit Description | | Form | | Exhibit | | Filing Date/
Period End Date |
| 3.1 | | | | 8-K | | 3.1 | | 8/7/20 |
| 3.2 | | | | 8-K | | 3.2 | | 8/23/24 |
| 4.1** | | | | | | | | |
| 4.2 | | | | S-3 | | 4.1 | | 4/29/13 |
| 4.3 | | | | 8-K | | 4.1 | | 5/3/13 |
| 4.4 | | | | 8-K | | 4.1 | | 5/6/14 |
| 4.5 | | | | 8-K | | 4.1 | | 11/10/14 |
| 4.6 | | | | 8-K | | 4.1 | | 2/9/15 |
| 4.7 | | | | 8-K | | 4.1 | | 5/13/15 |
| 4.8 | | | | 8-K | | 4.1 | | 7/31/15 |
| 4.9 | | | | 8-K | | 4.1 | | 9/17/15 |
Apple Inc. | 2024 Form 10-K | 53
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Incorporated by Reference |
| Exhibit Number | | Exhibit Description | | Form | | Exhibit | | Filing Date/
Period End Date |
| 4.10 | | Officer’s Certificate of the Registrant, dated as of February 23, 2016, including forms of global notes representing the Floating Rate Notes due 2019, Floating Rate Notes due 2021, 1.300% Notes due 2018, 1.700% Notes due 2019, 2.250% Notes due 2021, 2.850% Notes due 2023, 3.250% Notes due 2026, 4.500% Notes due 2036 and 4.650% Notes due 2046. | | 8-K | | 4.1 | | 2/23/16 |
| 4.11 | | | | 8-K | | 4.1 | | 3/24/16 |
| 4.12 | | | | 8-K | | 4.1 | | 8/4/16 |
| 4.13 | | Officer’s Certificate of the Registrant, dated as of February 9, 2017, including forms of global notes representing the Floating Rate Notes due 2019, Floating Rate Notes due 2020, Floating Rate Notes due 2022, 1.550% Notes due 2019, 1.900% Notes due 2020, 2.500% Notes due 2022, 3.000% Notes due 2024, 3.350% Notes due 2027 and 4.250% Notes due 2047. | | 8-K | | 4.1 | | 2/9/17 |
| 4.14 | | | | 8-K | | 4.1 | | 5/11/17 |
| 4.15 | | | | 8-K | | 4.1 | | 5/24/17 |
| 4.16 | | | | 8-K | | 4.1 | | 6/20/17 |
4.17 | | | | 8-K | | 4.1 | | 9/12/17 |
4.18 | | | | 8-K | | 4.1 | | 11/13/17 |
4.19 | | | | S-3 | | 4.1 | | 11/5/18 |
4.20 | | | | 8-K | | 4.1 | | 9/11/19 |
4.21 | | | | 8-K | | 4.1 | | 11/15/19 |
4.22 | | | | 8-K | | 4.1 | | 5/11/20 |
4.23 | | | | 8-K | | 4.1 | | 8/20/20 |
4.24 | | | | 8-K | | 4.1 | | 2/8/21 |
4.25 | | | | 8-K | | 4.1 | | 8/5/21 |
4.26 | | | | S-3 | | 4.1 | | 10/29/21 |
4.27 | | | | 8-K | | 4.1 | | 8/8/22 |
Apple Inc. | 2024 Form 10-K | 54
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Incorporated by Reference |
| Exhibit Number | | Exhibit Description | | Form | | Exhibit | | Filing Date/
Period End Date |
4.28 | | | | 8-K | | 4.1 | | 5/10/23 |
4.29* | | | | S-8 | | 4.1 | | 8/23/18 |
| 10.1* | | | | 8-K | | 10.1 | | 3/13/15 |
| 10.2* | | | | 10-Q | | 10.2 | | 6/27/09 |
| 10.3* | | | | 10-Q | | 10.1 | | 12/25/21 |
| 10.4* | | | | 10-K | | 10.8 | | 9/30/17 |
| 10.5* | | | | 10-K | | 10.20 | | 9/30/17 |
10.6* | | | | 10-Q | | 10.2 | | 3/31/18 |
10.7* | | | | 10-K | | 10.17 | | 9/29/18 |
10.8* | | | | 10-K | | 10.15 | | 9/28/19 |
10.9* | | | | 10-K | | 10.16 | | 9/26/20 |
10.10* | | | | 10-K | | 10.17 | | 9/26/20 |
10.11* | | | | 10-Q | | 10.1 | | 12/26/20 |
10.12* | | | | 10-Q | | 10.2 | | 12/26/20 |
10.13* | | | | 8-K | | 10.1 | | 3/4/22 |
10.14* | | | | 8-K | | 10.2 | | 3/4/22 |
10.15* | | | | 8-K | | 10.3 | | 3/4/22 |
10.16* | | | | 8-K | | 10.1 | | 8/19/22 |
10.17* | | | | 10-Q | | 10.1 | | 12/31/22 |
10.18* | | | | 10-Q | | 10.2 | | 12/31/22 |
10.19*, ** | | | | | | | | |
10.20*, ** | | | | | | | | |
10.21*, ** | | | | | | | | |
10.22*, ** | | | | | | | | |
19.1** | | | | | | | | |
| 21.1** | | | | | | | | |
| 23.1** | | | | | | | | |
| 24.1** | | | | | | | | |
| 31.1** | | | | | | | | |
| 31.2** | | | | | | | | |
| 32.1*** | | | | | | | | |
97.1*, ** | | | | | | | | |
Apple Inc. | 2024 Form 10-K | 55
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Incorporated by Reference |
| Exhibit Number | | Exhibit Description | | Form | | Exhibit | | Filing Date/
Period End Date |
| 101** | | Inline XBRL Document Set for the consolidated financial statements and accompanying notes in Part II, Item 8, “Financial Statements and Supplementary Data” of this Annual Report on Form 10-K. | | | | | | |
| 104** | | Inline XBRL for the cover page of this Annual Report on Form 10-K, included in the Exhibit 101 Inline XBRL Document Set. | | | | | | |
*Indicates management contract or compensatory plan or arrangement.
**Filed herewith.
***Furnished herewith.
(1)Certain instruments defining the rights of holders of long-term debt securities of the Registrant are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K. The Registrant hereby undertakes to furnish to the SEC, upon request, copies of any such instruments.
Item 16. Form 10-K Summary
None.
Apple Inc. | 2024 Form 10-K | 56
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | | | | | | | | | |
Date: November 1, 2024 | Apple Inc. |
| | | |
| By: | | /s/ Luca Maestri |
| | | Luca Maestri |
| | | Senior Vice President,
Chief Financial Officer |
Power of Attorney
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Timothy D. Cook and Luca Maestri, jointly and severally, his or her attorneys-in-fact, each with the power of substitution, for him or her in any and all capacities, to sign any amendments to this Annual Report on Form 10-K, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated:
| | | | | | | | | | | | | | |
| Name | | Title | | Date |
| | | | |
| /s/ Timothy D. Cook | | Chief Executive Officer and Director
(Principal Executive Officer) | | November 1, 2024 |
| TIMOTHY D. COOK | | | |
| | | | |
| /s/ Luca Maestri | | Senior Vice President, Chief Financial Officer
(Principal Financial Officer) | | November 1, 2024 |
| LUCA MAESTRI | | | |
| | | | |
| /s/ Chris Kondo | | Senior Director of Corporate Accounting
(Principal Accounting Officer) | | November 1, 2024 |
| CHRIS KONDO | | | |
| | | | |
/s/ Wanda Austin | | Director | | November 1, 2024 |
WANDA AUSTIN | | | |
| | | | |
| /s/ Alex Gorsky | | Director | | November 1, 2024 |
| ALEX GORSKY | | | |
| | | | |
| /s/ Andrea Jung | | Director | | November 1, 2024 |
| ANDREA JUNG | | | |
| | | | |
| /s/ Arthur D. Levinson | | Director and Chair of the Board | | November 1, 2024 |
| ARTHUR D. LEVINSON | | | |
| | | | |
| /s/ Monica Lozano | | Director | | November 1, 2024 |
| MONICA LOZANO | | | |
| | | | |
| /s/ Ronald D. Sugar | | Director | | November 1, 2024 |
| RONALD D. SUGAR | | | |
| | | | |
| /s/ Susan L. Wagner | | Director | | November 1, 2024 |
| SUSAN L. WAGNER | | | |
Apple Inc. | 2024 Form 10-K | 57
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