2012 Q1 Form 10-Q Financial Statement

#000119312512182321 Filed on April 25, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1
Revenue $39.19B $24.67B
YoY Change 58.86% 82.73%
Cost Of Revenue $20.62B $14.45B
YoY Change 42.72% 83.5%
Gross Profit $18.56B $10.22B
YoY Change 81.68% 81.65%
Gross Profit Margin 47.37% 41.42%
Selling, General & Admin $2.339B $1.763B
YoY Change 32.67% 44.51%
% of Gross Profit 12.6% 17.25%
Research & Development $841.0M $581.0M
YoY Change 44.75% 36.38%
% of Gross Profit 4.53% 5.69%
Depreciation & Amortization $740.0M $434.0M
YoY Change 70.51% 100.93%
% of Gross Profit 3.99% 4.25%
Operating Expenses $3.180B $2.344B
YoY Change 35.67% 42.41%
Operating Profit $15.38B $7.874B
YoY Change 95.38% 97.89%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $148.0M $26.00M
YoY Change 469.23% -48.0%
Pretax Income $15.53B $7.900B
YoY Change 96.61% 96.08%
Income Tax $3.910B $1.913B
% Of Pretax Income 25.17% 24.22%
Net Earnings $11.62B $5.987B
YoY Change 94.12% 94.76%
Net Earnings / Revenue 29.66% 24.27%
Basic Earnings Per Share $12.45 $6.49
Diluted Earnings Per Share $12.30 $6.40
COMMON SHARES
Basic Shares Outstanding 933.6M shares 923.2M shares
Diluted Shares Outstanding 944.9M shares 935.9M shares

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.54B $29.23B
YoY Change -2.38% 26.25%
Cash & Equivalents $10.12B $15.98B
Short-Term Investments $18.42B $13.26B
Other Short-Term Assets $5.050B $5.738B
YoY Change -11.99% 46.6%
Inventory $1.102B $930.0M
Prepaid Expenses
Receivables $7.042B $5.798B
Other Receivables $6.727B $5.297B
Total Short-Term Assets $50.71B $47.00B
YoY Change 7.9% 45.34%
LONG-TERM ASSETS
Property, Plant & Equipment $8.847B $6.241B
YoY Change 41.76% 78.11%
Goodwill $1.141B
YoY Change
Intangibles $3.604B
YoY Change
Long-Term Investments $81.64B $36.53B
YoY Change 123.46% 96.95%
Other Assets $4.992B $3.885B
YoY Change 28.49% 110.57%
Total Long-Term Assets $100.2B $47.91B
YoY Change 109.2% 93.79%
TOTAL ASSETS
Total Short-Term Assets $50.71B $47.00B
Total Long-Term Assets $100.2B $47.91B
Total Assets $150.9B $94.90B
YoY Change 59.04% 66.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.01B $13.71B
YoY Change 24.04% 142.04%
Accrued Expenses $9.778B $2.104B
YoY Change 364.73% 70.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.04B $24.33B
YoY Change 31.69% 98.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.95B $2.950B
YoY Change 373.02% 31.76%
Total Long-Term Liabilities $13.95B $2.950B
YoY Change 373.02% 31.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.04B $24.33B
Total Long-Term Liabilities $13.95B $2.950B
Total Liabilities $48.44B $33.43B
YoY Change 44.9% 88.76%
SHAREHOLDERS EQUITY
Retained Earnings $87.12B
YoY Change
Common Stock $14.85B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $102.5B $61.48B
YoY Change
Total Liabilities & Shareholders Equity $150.9B $94.90B
YoY Change 59.04% 66.33%

Cashflow Statement

Concept 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income $11.62B $5.987B
YoY Change 94.12% 94.76%
Depreciation, Depletion And Amortization $740.0M $434.0M
YoY Change 70.51% 100.93%
Cash From Operating Activities $13.98B $6.219B
YoY Change 124.75% 166.91%
INVESTING ACTIVITIES
Capital Expenditures -$1.509B -$656.0M
YoY Change 130.03% 117.94%
Acquisitions
YoY Change
Other Investing Activities -$12.97B -$866.0M
YoY Change 1397.34% -497.25%
Cash From Investing Activities -$14.48B -$1.522B
YoY Change 851.12% 1733.73%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 310.0M 547.0M
YoY Change -43.33% 237.65%
NET CHANGE
Cash From Operating Activities 13.98B 6.219B
Cash From Investing Activities -14.48B -1.522B
Cash From Financing Activities 310.0M 547.0M
Net Change In Cash -189.0M 5.244B
YoY Change -103.6% 117.68%
FREE CASH FLOW
Cash From Operating Activities $13.98B $6.219B
Capital Expenditures -$1.509B -$656.0M
Free Cash Flow $15.49B $6.875B
YoY Change 125.25% 161.31%

Facts In Submission

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<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px" align="justify"> <font style="FONT-FAMILY: Times New Roman" size="2">The following table shows the pre-tax effect of the Company&#x2019;s derivative instruments designated as cash flow and net investment hedges in the Condensed Consolidated Statements of Operations for the three- and six-month periods ended March&#xA0;31, 2012 and March&#xA0;26, 2011 (in millions):</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr style="LINE-HEIGHT: 0pt; VISIBILITY: hidden; COLOR: white"> <td width="75%"></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> <td valign="bottom" width="1%"></td> 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valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March&#xA0;26,<br /> 2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Cash flow hedges:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Foreign exchange contracts</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(32</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(216</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">146</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(90</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">Other&#xA0;income<br /> and expense</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(140</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(140</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Net investment hedges:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Foreign exchange contracts</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">0</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(11</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">0</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">0</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">Other income<br /> and expense</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">0</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">0</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: Times New Roman" size="2">Total</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(32</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(227</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">146</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(90</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(140</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(140</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr style="LINE-HEIGHT: 0pt; VISIBILITY: hidden; COLOR: white"> <td width="76%"></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> <td valign="bottom" width="1%"></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td nowrap="nowrap"><font size="1"><b>September 30,</b></font></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="24" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Six Month Periods</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gains/(Losses)&#xA0;Recognized&#xA0;in<br /> OCI - Effective Portion (e)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gains/(Losses)&#xA0;Reclassified</b></font><br /> <font style="FONT-FAMILY: Times New Roman" size="1"><b>from AOCI into Income&#xA0;-</b></font><br /> <font style="FONT-FAMILY: Times New Roman" size="1"><b>Effective Portion (e)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="8" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gains/(Losses) Recognized&#xA0;-&#xA0;Ineffective</b></font><br /> <font style="FONT-FAMILY: Times New Roman" size="1"><b>Portion and Amount Excluded from</b></font><br /> <font style="FONT-FAMILY: Times New Roman" size="1"><b>Effectiveness Testing</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March&#xA0;31,<br /> 2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March&#xA0;26,<br /> 2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March&#xA0;31,<br /> 2012 (c)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March&#xA0;26,<br /> 2011 (d)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Location</b></font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March&#xA0;31,<br /> 2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March&#xA0;26,<br /> 2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Cash flow hedges:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Foreign exchange contracts</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">103</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(282</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">384</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(539</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Other&#xA0;income<br /> and expense</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(209</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="top" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(119</font></td> <td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Net investment hedges:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="top"></td> <td valign="top"></td> <td valign="top"></td> </tr> <tr> <td 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<td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: Times New Roman" 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style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(119</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; LINE-HEIGHT: 8px; MARGIN-TOP: 0px; WIDTH: 10%; MARGIN-BOTTOM: 2px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(a)</font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">Includes gains/(losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $154 million and $(8) million were recognized within net sales and cost of sales, respectively, within the Condensed Consolidated Statement of Operations for the three months ended March&#xA0;31, 2012. There were no amounts reclassified from AOCI into net income for the effective portion of net investment hedges for the three months ended March&#xA0;31, 2012.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(b)</font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">Includes gains/(losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(24) million and $(66) million were recognized within net sales and cost of sales, respectively, within the Condensed Consolidated Statement of Operations for the three months ended March&#xA0;26, 2011. There were no amounts reclassified from AOCI into net income for the effective portion of net investment hedges for the three months ended March&#xA0;26, 2011.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(c)</font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">Includes gains/(losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $341 million and $43 million were recognized within net sales and cost of sales, respectively, within the Condensed Consolidated Statement of Operations for the six months ended March&#xA0;31, 2012. There were no amounts reclassified from AOCI into net income for the effective portion of net investment hedges for the six months ended March&#xA0;31, 2012.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(d)</font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">Includes gains/(losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $(281) million and $(258) million were recognized within net sales and cost of sales, respectively, within the Condensed Consolidated Statement of Operations for the six months ended March&#xA0;26, 2011. There were no amounts reclassified from AOCI into net income for the effective portion of net investment hedges for the six months ended March&#xA0;26, 2011.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(e)</font></td> <td valign="top" align="left"> <p align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">Refer to Note 5, &#x201C;Shareholders&#x2019; Equity and Share-based Compensation&#x201D; of this Form 10-Q, which summarizes the activity in AOCI related to derivatives.</font></p> </td> </tr> </table> </div>
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CY2012Q1 aapl Number Of Customers
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PrepaidExpenseAndOtherCurrentNoncurrentUtilized
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