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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts)  Three Months Ended  Twelve Months Ended  September 28, 2024  September 30, 2023  September 28, 2024  September 30, 2023 Net sales:           Products $ 69,958   $ 67,184   $ 294,866   $ 298,085     Services  24,972    22,314    96,169    85,200  Total  net  sal es (1)  94,930    89,498    391,035    383,285  Cost of sales:           Products  44,566    42,586    185,233    189,282     Services  6,485    6,485    25,119    24,855  Total  cost  of  sal es  51,051    49,071    210,352    214,137  Gross margin  43,879    40,427    180,683    169,148          Operating expenses:        Research and development  7,765    7,307    31,370    29,915  Selling, general and administrative  6,523    6,151    26,097    24,932  Total  operat i ng expenses  14,288    13,458    57,467    54,847          Operating income  29,591    26,969    123,216    114,301  Other income/(expense), net  19    29    269    (565) Income before provision for income taxes  29,610    26,998    123,485    113,736  Provision for income taxes  14,874    4,042    29,749    16,741  Net income $ 14,736   $ 22,956   $ 93,736   $ 96,995          Earnings per share:        Basic $ 0.97   $ 1.47   $ 6.11   $ 6.16  Diluted $ 0.97   $ 1.46   $ 6.08   $ 6.13  Shares used in computing earnings per share:        Basic  15,171,990    15,599,434    15,343,783    15,744,231  Diluted  15,242,853    15,672,400    15,408,095    15,812,547          (1) Net sales by reportable segment:        Americas $ 41,664   $ 40,115   $ 167,045   $ 162,560  Europe  24,924    22,463    101,328    94,294  Greater China  15,033    15,084    66,952    72,559  Japan  5,926    5,505    25,052    24,257  Rest of Asia Pacific  7,383    6,331    30,658    29,615  Total  net  sal es $ 94,930   $ 89,498   $ 391,035   $ 383,285          (1) Net sales by category:        iPhone $ 46,222   $ 43,805   $ 201,183   $ 200,583  Mac  7,744    7,614    29,984    29,357  iPad  6,950    6,443    26,694    28,300  Wearables, Home and Accessories  9,042    9,322    37,005    39,845  Services  24,972    22,314    96,169    85,200  Total  net  sal es $ 94,930   $ 89,498   $ 391,035   $ 383,285  

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Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value)   September 28, 2024  September 30, 2023 ASSETS: Current assets:    Cash and cash equivalents $ 29,943   $ 29,965  Marketable securities  35,228    31,590  Accounts receivable, net  33,410    29,508  Vendor non-trade receivables  32,833    31,477  Inventories  7,286    6,331  Other current assets  14,287    14,695  Total  cur rent  assets  152,987    143,566      Non-current assets:    Marketable securities  91,479    100,544  Property, plant and equipment, net  45,680    43,715  Other non-current assets  74,834    64,758  Total  non-current assets  211,993    209,017  Total  assets $ 364,980   $ 352,583      LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities:    Accounts payable $ 68,960   $ 62,611  Other current liabilities  78,304    58,829  Deferred revenue  8,249    8,061  Commercial paper  9,967    5,985  Ter m debt  10,912    9,822  Total  cur rent  l i abi l i t i es  176,392    145,308      Non-current liabilities:    Ter m debt  85,750    95,281  Other non-current liabilities  45,888    49,848  Total  non-current liabilities  131,638    145,129  Total  l i abi l i t i es  308,030    290,437      Commitments and contingencies        Shareholders’ equity:    Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,116,786 and 15,550,061 shares issued and outstanding, respectively  83,276    73,812  Accumulated deficit  (19,154)   (214) Accumulated other comprehensive loss  (7,172)   (11,452) Total  sharehol ders’  equi t y  56,950    62,146  Total  l i abi l i t i es and sharehol ders’  equi t y $ 364,980   $ 352,583   

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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)   Twelve Months Ended  September 28, 2024  September 30, 2023 Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances $ 30,737   $ 24,977      Operating activities:    Net income  93,736    96,995  Adjustments to reconcile net income to cash generated by operating activities:    Depreciation and amortization  11,445    11,519  Share-based compensation expense  11,688    10,833  Other  (2,266)   (2,227) Changes in operating assets and liabilities:    Accounts receivable, net  (3,788)   (1,688) Vendor non-trade receivables  (1,356)   1,271  Inventories  (1,046)   (1,618) Other current and non-current assets  (11,731)   (5,684) Accounts payable  6,020    (1,889) Other current and non-current liabilities  15,552    3,031  Cash generated by operating activities  118,254    110,543      Investing activities:    Purchases of marketable securities  (48,656)   (29,513) Proceeds from maturities of marketable securities  51,211    39,686  Proceeds from sales of marketable securities  11,135    5,828  Payments for acquisition of property, plant and equipment  (9,447)   (10,959) Other  (1,308)   (1,337) Cash generated by investing activities  2,935    3,705      Financing activities:    Payments for taxes related to net share settlement of equity awards  (5,441)   (5,431) Payments for dividends and dividend equivalents  (15,234)   (15,025) Repurchases of common stock  (94,949)   (77,550) Proceeds from issuance of term debt, net  —    5,228  Repayments of term debt  (9,958)   (11,151) Proceeds from/(Repayments of) commercial paper, net  3,960    (3,978) Other  (361)   (581) Cash used in financing activities  (121,983)   (108,488)     Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents  (794)   5,760  Cash, cash equivalents, and restricted cash and cash equivalents, ending balances $ 29,943   $ 30,737      Supplemental cash flow disclosure:    Cash paid for income taxes, net $ 26,102   $ 18,679   

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Apple Inc. RECONCILIATION OF NON-GAAP TO GAAP RESULTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts)   Three Months Ended  Twelve Months Ended  September 28, 2024  September 28, 2024  As Reported (GAAP)  Non-GAAP Adjustments (a)  As Adjusted (Non-GAAP)  As Reported (GAAP)  Non-GAAP Adjustments (a)  As Adjusted (Non-GAAP) Income before provision for income taxes $ 29,610   $ —    $ 29,610   $ 123,485   $ —    $ 123,485  Provision for income taxes  14,874    (10,246) (b)   4,628    29,749    (10,246) (b)   19,503  Net income $ 14,736   $ 10,246  (b)  $ 24,982   $ 93,736   $ 10,246  (b)  $ 103,982                Diluted earnings per share $ 0.97   $ 0.67  (c)  $ 1.64   $ 6.08   $ 0.67  (c)  $ 6.75  Shares used in computing diluted earnings per share  15,242,853    —     15,242,853    15,408,095    —     15,408,095  (a) These adjustments reconcile certain of the Company’s GAAP results of operations to its non-GAAP results of operations. The Company believes that the presentation of results excluding the impact of the reversal of the European General Court’s State Aid decision provides meaningful supplemental information to both management and investors that is indicative of the Company’s core operating results and facilitates comparison of operating results across reporting periods. The Company uses these non-GAAP measures when evaluating its financial results as well as for internal planning and forecasting purposes. These non-GAAP measures should not be viewed as a substitute for the Company’s GAAP results. (b) Non-GAAP adjustments to provision for income taxes and net income to reflect the impact of the reversal of the European General Court’s State Aid decision recognized during the fourth quarter of 2024. On September 10, 2024, the European Court of Justice announced that it had set aside the 2020 judgment of the European General Court and confirmed the European Commission’s 2016 State Aid decision. As a result, during the fourth quarter of 2024 the Company recorded a one-time income tax charge of $10.2 billion, net, which represents $15.8 billion payable to Ireland via release of restricted funds held in escrow, partially offset by a U.S. foreign tax credit of $4.8 billion and a decrease in unrecognized tax benefits of $823 million. For additional information, refer to Note 7, “Income Taxes” of the Notes to Consolidated Financial Statements that will be included in Part II, Item 8 of the Company's fiscal 2024 Annual Report on Form 10-K. (c) Represents the per-share impact of the non-GAAP adjustments to net income. 