Item 8.
Financial Statements and Supplementary Data
Index to Consolidated Financial Statements
Page
Consolidated Statements of Operations for the years ended September 24, 2022, September 25, 2021 and
September 26, 2020
29
Consolidated Statements of Comprehensive Income for the years ended September 24, 2022, September 25,
2021 and September 26, 2020
30
Consolidated Balance Sheets as of September 24, 2022 and September 25, 2021
31
Consolidated Statements of Shareholders’ Equity for the years ended September 24, 2022, September 25, 2021
and September 26, 2020
32
Consolidated Statements of Cash Flows for the years ended September 24, 2022, September 25, 2021 and
September 26, 2020
33
Notes to Consolidated Financial Statements
34
Reports of Independent Registered Public Accounting Firm
50
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.
Apple Inc. | 2022 Form 10-K | 28
Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
Years ended
September 24,
2022
September 25,
2021
September 26,
2020
Net sales:
Products
$
316,199 $
297,392 $
220,747
Services
78,129
68,425
53,768
Total net sales
394,328
365,817
274,515
Cost of sales:
Products
201,471
192,266
151,286
Services
22,075
20,715
18,273
Total cost of sales
223,546
212,981
169,559
Gross margin
170,782
152,836
104,956
Operating expenses:
Research and development
26,251
21,914
18,752
Selling, general and administrative
25,094
21,973
19,916
Total operating expenses
51,345
43,887
38,668
Operating income
119,437
108,949
66,288
Other income/(expense), net
(334)
258
803
Income before provision for income taxes
119,103
109,207
67,091
Provision for income taxes
19,300
14,527
9,680
Net income
$
99,803 $
94,680 $
57,411
Earnings per share:
Basic
$
6.15 $
5.67 $
3.31
Diluted
$
6.11 $
5.61 $
3.28
Shares used in computing earnings per share:
Basic
16,215,963
16,701,272
17,352,119
Diluted
16,325,819
16,864,919
17,528,214
See accompanying Notes to Consolidated Financial Statements.
Apple Inc. | 2022 Form 10-K | 29
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