Income_Statement
APPLE CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions 12 Months Ended 12 Months Ended % Change % Change % Change MICROSOFT INCOME STATEMENTS - USD ($) shares in Millions, $ in Millions 12 Months Ended
Sep. 30, 2016 Sep. 30, 2017 Sep. 29, 2018 Sep. 28, 2019 Jun. 30, 2016 Jun. 30, 2017 % Change Jun. 30, 2018 % Change Jun. 30, 2019 % Change
Net sales 215639 $ 229234 6.30% $ 265595 15.86% $ 260174 -2.04% Revenue 84,695 $ 96571 14.02% $ 110360 14.28% $ 125843 14.03%
Cost of sales 131376 141048 7.36% 163756 16.10% 161782 -1.21% Cost of revenue 32,780 34261 4.52% 38353 11.94% 42910 11.88%
Gross margin 84263 88186 4.66% 101839 15.48% 98392 -3.38% Gross margin 51,915 62310 20.02% 72007 15.56% 82933 15.17%
Operating expenses: Research and development 11,988 13037 8.75% 14726 12.96% 16876 14.60%
Research and development 10045 11581 15.29% 14236 22.93% 16217 13.92% Sales and marketing 14,697 15461 5.20% 17469 12.99% 18213 4.26%
Selling, general and administrative 14194 15261 7.52% 16705 9.46% 18245 9.22% General and administrative 4,563 4481 -1.80% 4754 6.09% 4885 2.76%
Total operating expenses 24239 26842 10.74% 30941 15.27% 34462 11.38% Restructuring 1,110 306 -72.43% 0 -100.00% 0
Operating income 60024 61344 2.20% 70898 15.57% 63930 -9.83% Operating income 20,182 29025 43.82% 35058 20.79% 42959 22.54%
Other income/(expense), net 1348 2745 103.64% 2005 -26.96% 1807 -9.88% Other income, net -431 876 -303.25% 1416 -95.26% 729 -48.52%
Income before provision for income taxes 61372 64089 4.43% 72903 13.75% 65737 -9.83% Income before income taxes 19,751 29901 -77.66% 36474 726.70% 43688 19.78%
Provision for income taxes 15685 15738 0.34% 13372 -15.03% 10481 -21.62% Provision for income taxes 2,953 4412 763.16% 19903 -21.92% 4448 -77.65%
Net income 45687 $ 48351 5.83% $ 59531 23.12% $ 55256 -7.18% Net income 16,798 $ 25489 51.74% 16,571 -34.99% $ 39240 136.80%
Earnings per share: $ 9.27 $ 12.01 29.56% $ 11.97 -0.33% Earnings per share:
Basic (in dollars per share) 8.35 $ 9.21 10.30% $ 11.91 29.32% $ 11.89 -0.17% Basic 2.12 $ 3.29 $ 2.15 -34.65% $ 5.11 137.67%
Diluted (in dollars per share) 8.31 Diluted 2.10 $ 3.25 $ 2.13 -34.46% $ 5.06 137.56%
Shares used in computing earnings per share: 5217242 4955377 -5.02% 4617834 -6.81% Weighted average shares outstanding:
Basic (in shares) 5470820 5251692 -4.01% 5000109 -4.79% 4648913 -7.02% Basic 7,925 Â Â 7700 7673 -0.35%
Diluted (in shares) 5500281 Diluted 8,013 7832 7794 -0.49% 7753 -0.53%
MICROSOFT COMMON SIZED INCOME STATEMENTS - USD ($) shares in Millions, $ in Millions 12 Months Ended
APPLE Common-Sized Income Statement Sep. 30, 2016 Sep. 30, 2017 Common Sized Sep. 29, 2018 Common Sized Sep. 28, 2019 Common Sized Jun. 30, 2016 Jun. 30, 2017 Common Sized Jun. 30, 2018 Common Sized Jun. 30, 2019 Commnn Sized
Net sales 215639 $ 229234 100% $ 265595 100.00% $ 260174 100.00% Revenue 84,695 $ 96571 100.00% $ 110360 100.00% $ 125843 100.00%
Cost of sales 131376 141048 62% 163756 61.66% 161782 62.18% Cost of revenue 32,780 34261 35.48% 38353 34.75% 42910 34.10%
Gross margin 84263 88186 38% 101839 38.34% 98392 37.82% Gross margin 51,915 62310 64.52% 72007 65.25% 82933 65.90%
Operating expenses: Research and development 11,988 13037 13.50% 14726 13.34% 16876 13.41%
Research and development 10045 11581 5% 14236 5.36% 16217 6.23% Sales and marketing 14,697 15461 16.01% 17469 15.83% 18213 14.47%
Selling, general and administrative 14194 15261 7% 16705 6.29% 18245 7.01% General and administrative 4,563 4481 4.64% 4754 4.31% 4885 3.88%
Total operating expenses 24239 26842 12% 30941 11.65% 34462 13.25% Restructuring 1,110 306 0.32% 0 0.00% 0 0.00%
Operating income 60024 61344 27% 70898 26.69% 63930 24.57% Operating income 20,182 29025 30.06% 35058 31.77% 42959 34.14%
Other income/(expense), net 2745 1% 2005 0.75% 1807 0.69% Other income, net -431 876 0.91% 1416 1.28% 729 0.58%
Income before provision for income taxes 1348 64089 28% 72903 27.45% 65737 25.27% Income before income taxes 19,751 29901 30.96% 36474 33.05% 43688 34.72%
Provision for income taxes 61372 15738 7% 13372 5.03% 10481 4.03% Provision for income taxes 2,953 4412 4.57% 19903 18.03% 4448 3.53%
Net income 15685 $ 48351 21% $ 59531 22.41% $ 55256 21.24% Net income 16,798 $ 25489 26.39% $ 16571 15.02% $ 39240 31.18%
Earnings per share: 45687 Earnings per share:
Basic (in dollars per share) $ 9.27 $ 12.01 $ 11.97 Basic $ 3.29 $ 2.15 $ 5.11
Diluted (in dollars per share) $ 9.21 $ 11.91 $ 11.89 Diluted $ 3.25 $ 2.13 $ 5.06
Shares used in computing earnings per share: Weighted average shares outstanding:
Basic (in shares) 5470820 5217242 4955377 4617834 Basic 7746 7700 7673
Diluted (in shares) 5500281 5251692 5000109 4648913 Diluted 7832 7794 7753
Balance_Sheet
APPLE CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions Sep. 29, 2017 Sep. 29, 2018 % Change Sep.. 29, 2019 % Change MICROSOFT BALANCE SHEETS - USD ($) $ in Millions Jun. 30, 2017 Jun. 30, 2018 % Change Jun. 30, 2019 % Change
Cu
ent assets: Cu
ent assets:
Cash and cash equivalents 20,289 25,913 27.7% 48,844 88.5% Cash and cash equivalents 7,663 11,946 55.9% 11,356 -4.9%
Marketable securities 53,892 40,388 -25.1% 51,713 28.0% Short-term investments 125,318 121,822 -2.8% 122,463 0.5%
Accounts receivable, net 17,874 23,186 29.7% 22,926 -1.1% Total cash, cash equivalents, and short-term investments 132,981 133,768 0.6% 133,819 0.0%
Inventories 4,855 3,956 -18.5% 4,106 3.8% Accounts receivable, net of allowance for doubtful accounts of $411 and $377 22,431 26,481 18.1% 29,524 11.5%
Vendor non-trade receivables 17,799 25,809 45.0% 22,878 -11.4% Inventories 2,181 2,662 22.1% 2,063 -22.5%
Other cu
ent assets 13,936 12,087 -13.3% 12,352 2.2% Other 5,103 6,751 32.3% 10,146 50.3%
Total cu
ent assets 128,645 131,339 2.1% 162,819 24.0% Total cu
ent assets 162,696 169,662 4.3% 175,552 3.5%
Non-cu
ent assets: Non-cu
ent assets:
Long-Term Marketable Securities 194,714 170,799 -12.3% 105,341 -38.3% Property and equipment, net of accumulated depreciation of $24,179 $35,330 and $29,223 23,734 29,460 24.1% 36,477 23.8%
Property, plant and equipment, net 33,783 41,304 22.3% 37,378 -9.5% Operating lease right-of-use assets 6,555 6,686 2.0% 7,379 10.4%
Other non-cu
ent assets 18,177 22,283 22.6% 32,978 48.0% Equity investments 6,023 1,862 -69.1% 2,649 42.3%
Total non-cu
ent assets 246,674 234,386 -5.0% 175,697 -25.0% Goodwill 35,122 35,683 1.6% 42,026 17.8%
Total Assets 375,319 365,725 -2.6% 338,516 -7.4% Intangible assets, net 10,106 8,053 -20.3% 7,750 -3.8%
Other long-term assets 6,076 7,442 22.5% 14,723 97.8%
Total Assets 250,312 258,848 3.4% 286,556 10.7%
Cu
ent liabilities: Cu
ent liabilities:
Accounts payable 49,049 55,888 13.9% 46,236 -17.3% Accounts payable 7,390 8,617 16.6% 9,382 8.9%
Short-Term Debt 9,072
Other cu
ent liabilities 25,744 33,327 29.5% 37,720 13.2% Cu
ent portion of long-term debt 1,049 3,998 281.1% 5,516 38.0%
Defe
ed revenue 7,548 5,966 -21.0% 5,522 -7.4% Accrued compensation 5,819 6,103 4.9% 6,830 11.9%
Commercial paper 11,977 11,964 -0.1% 5,980 -50.0% Short-term income taxes 718 2,121 195.4% 5,665 167.1%
Cu
ent portion of long-term debt 6,496 8,784 35.2% 10,260 16.8% Short-term unearned revenue 24,013 28,905 20.4% 32,676 13.0%
Total cu
ent liabilities 100,814 115,929 15.0% 105,718 -8.8% Other 7,684 8,744 13.8% 9,351 6.9%
Total cu
ent liabilities 55,745 58,488 4.9% 69,420 18.7%
Long-term debt 97,207 93,735 -3.6% 91,807 -2.1% ERROR:#DIV/0!
Other non-cu
ent liabilities 40,415 48,914 21.0% 50,503 3.2% Long-term debt 76,073 72,242 -5.0% 66,662 -7.7%
Total non-cu
ent liabilities 137,622 142,649 3.7% 142,310 -0.2% Long-term income taxes 13,485 30,265 124.4% 29,612 -2.2%
Total liabilities 241,272 258,578 7.2% 248,028 -4.1% Long-term unearned revenue 2,643 3,815 44.3% 4,530 18.7%
Commitments and contingencies Defe
ed income taxes 5,734 541 -90.6% 233 -56.9%
Operating lease liabilities 5,372 5,568 3.6% 6,188 11.1%
Other long-term liabilities 3,549 5,211 46.8% 7,581 45.5%
Total liabilities 162,601 176,130 8.3% 184,226 4.6%
Commitments and contingencies
Shareholders’ equity: Stockholders’ equity:
Common stock and additional paid-in capital, $ XXXXXXXXXXpar value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively 35,867 40201 12.1% 45,174 12.4% Common stock and paid-in capital – shares authorized 24,000; outstanding 7,643 and 7,677 69,315 71,223 2.8% 78,520 10.2%
Retained earnings 98,330 70400 -28.4% 45,898 -34.8% Retained earnings 17,769 13,682 -23.0% 24,150 76.5%
Accumulated other comprehensive income/(loss) -150 (3454) 2202.7% -584 -83.1% Accumulated other comprehensive loss 627 -2,187 -448.8% -340 -84.5%
Total shareholders’ equity 134,047 107147 -20.1% 90,488 -15.5% Total stockholders’ equity 87,711 82,718 -5.7% 102,330 23.7%
Total liabilities and shareholders’ equity 375,319 $ 365725 -2.6% 338,516 -7.4% Total liabilities and stockholders' equity 250,312 258,848 3.4% 286,556 10.7%
APPLE CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions Sep. 29, 2017 Sep. 29, 2018 % of Total Assets Sep. 28, 2019 % of Total Assets MICROSOFT BALANCE SHEETS - USD ($) $ in Millions Jun. 30, 2017 Jun. 30, 2018 % of Total Assets Jun. 30, 2019 % of Total Assets
Cu
ent assets: Cu
ent assets:
Cash and cash equivalents 20,289 25,913 7.1% 48,844 14.4% Cash and cash equivalents 7,663 11,946 4.6% 11,356 4.0%
Marketable securities 53,892 40,388 11.0% 51,713 15.3% Short-term investments 125,318 121,822 47.1% 122,463 42.7%
Accounts receivable, net 17,874 23,186 6.3% 22,926 6.8% Total cash, cash equivalents, and short-term investments 132,981 133,768 51.7% 133,819 46.7%
Inventories 4,855 3,956 1.1% 4,106 1.2% Accounts receivable, net of allowance for doubtful accounts of $411 and $377 22,431 26,481 10.2% 29,524 10.3%
Vendor non-trade receivables 17,799 25,809 7.1% 22,878 6.8% Inventories 2,181 2,662 1.0% 2,063 0.7%
Other cu
ent assets 13,936 12,087 3.3% 12,352 3.6% Other 5,103 6,751 2.6% 10,146 3.5%
Total cu
ent assets 128,645 131,339 35.9% 162,819 48.1% Total cu
ent assets 162,696 169,662 65.5% 175,552 61.3%
Non-cu
ent assets: Non-cu
ent assets:
Long-Term Marketable Securities 194,714 170,799 46.7% 105,341 31.1% Property and equipment, net of accumulated depreciation of $24,179 $35,330 and $29,223 23,734 29,460 11.4% 36,477 12.7%
Property, plant and equipment, net 33,783 41,304 11.3% 37,378 11.0% Operating lease right-of-use assets 6,555 6,686 2.6% 7,379 2.6%
Other non-cu
ent assets 18,177 22,283 6.1% 32,978 9.7% Equity investments 6,023 1,862 0.7% 2,649 0.9%
Total non-cu
ent assets 246,674 234,386 64.1% 175,697 51.9% Goodwill 35,122 35,683 13.8% 42,026 14.7%
Total Assets 375,319 365,725 100.0% 338,516 100.0% Intangible assets, net 10,106 8,053 3.1% 7,750 2.7%
Other long-term assets 6,076 7,442 2.9% 14,723 5.1%
Total Assets 250,312 258,848 100.0% 286,556 100.0%
Cu
ent liabilities: Cu
ent liabilities:
Accounts payable 49,049 55,888 15.3% 46,236 13.7% Accounts payable 7,390 8,617 3.3% 9,382 3.3%
Short-Term Debt 9,072
Other cu
ent liabilities 25,744 33,327 9.1% 37,720 11.1% Cu
ent portion of long-term debt 1,049 3,998 1.5% 5,516 1.9%
Defe
ed revenue 7,548 5,966 1.6% 5,522 1.6% Accrued compensation 5,819 6,103 2.4% 6,830 2.4%
Commercial paper 11,977 11,964 3.3% 5,980 1.8% Short-term income taxes 718 2,121 0.8% 5,665 2.0%
Cu
ent portion of long-term debt 6,496 8,784 2.4% 10,260 3.0% Short-term unearned revenue 24,013 28,905 11.2% 32,676 11.4%
Total cu
ent liabilities 100,814 115,929 31.7% 105,718 31.2% Other 7,684 8,744 3.4% 9,351 3.3%
Total cu
ent liabilities 55,745 58,488 22.6% 69,420 24.2%
Long-term debt 97,207 93,735 25.6% 91,807 27.1%
Other non-cu
ent liabilities 40,415 48,914 13.4% 50,503 14.9% Long-term debt 76,073 72,242 27.9% 66,662 23.3%
Total non-cu
ent liabilities 137,622 142,649 39.0% 142,310 42.0% Long-term income taxes 13,485 30,265 11.7% 29,612 10.3%
Total liabilities 241,272 258,578 70.7% 248,028 73.3% Long-term unearned revenue 2,643 3,815 1.5% 4,530 1.6%
Commitments and contingencies Defe
ed income taxes 5,734 541 0.2% 233 0.1%
Operating lease liabilities 5,372 5,568 2.2% 6,188 2.2%
Other long-term liabilities 3,549 5,211 2.0% 7,581 2.6%
Total liabilities 162,601 176,130 68.0% 184,226 64.3%
Commitments and contingencies
Shareholders’ equity: Stockholders’ equity:
Common stock and additional paid-in capital, $ XXXXXXXXXXpar value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively 35,867 40201 45,174 13.3% Common stock and paid-in capital – shares authorized 24,000; outstanding 7,643 and 7,677 69,315 71,223 27.5% 78,520 27.4%
Retained earnings 98,330 70400 19.2% 45,898 13.6% Retained earnings 17,769 13,682 5.3% 24,150 8.4%
Accumulated other comprehensive income/(loss) -150 (3454) -0.9% -584 -0.2% Accumulated other comprehensive loss 627 -2,187 -0.8% -340 -0.1%
Total shareholders’ equity 134,047 107147 29.3% 90,488 26.7% Total stockholders’ equity 87,711 82,718 32.0% 102,330 35.7%
Total liabilities and shareholders’ equity 375,319 $ 365725 100.0% 338,516 100.0% Total liabilities and stockholders' equity 250,312 258,848 100.0% 286,556 100.0%
Cash_Flow
APPLE CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions 12 Months Ended MICROSOFT CASH FLOWS STATEMENTS - USD ($) $ in Millions 12 Months Ended
Sep. 30, 2017 Sep