Apple Inc (AAPL) 10-K Annual Report October 2020

® today announced financial results for its fiscal 2020 fourth quarter ended September 26, 2020. The Company posted record September quarter revenue of $64.7 billion and quarterly earnings per diluted share of $0.73. International sales accounted for 59 percent of the quarter’s revenue.

“Apple capped off a fiscal year defined by innovation in the face of adversity with a September quarter record, led by all-time records for Mac and Services,” said Tim Cook, Apple’s CEO. “Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, has been tremendously positive. From remote learning to the home office, Apple products have been a window to the world for users as the pandemic continues, and our teams have met the needs of this moment with creativity, passion, and the kinds of big ideas that only Apple can deliver.”

“Our outstanding September quarter performance concludes a remarkable fiscal year, where we established new all-time records for revenue, earnings per share, and free cash flow, in spite of an extremely volatile and challenging macro environment,” said Luca Maestri, Apple’s CFO. “Our sales results and the unmatched loyalty of our customers drove our active installed base of devices to an all-time high in all of our major product categories. We also returned nearly $22 billion to shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock. The dividend is payable on November 12, 2020 to shareholders of record as of the close of business on November 9, 2020.

Apple will provide live streaming of its Q4 2020 financial results conference call beginning at 2:00 p.m. PT on October 29, 2020 at apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.

The following information was filed by Apple Inc (AAPL) on Thursday, October 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Apple Inc's 10-K Annual Report:

Other - Other Highlight
Recent Accounting Pronouncements Financial Instruments In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which modifies the measurement of expected credit losses on certain financial instruments.

Financial - Earnings Highlight
Services Gross Margin Services gross margin increased during 2020 compared to 2019 due primarily to higher Services net sales and a different Services mix.
Financial - Shares Highlight
Capital Return Program As of September 26, 2020, the Company was authorized to purchase up to $225 billion of the Company's common stock under a share repurchase program, of which $168.6 billion had been utilized.
Revenue - Product Highlight
iPhone iPhone net sales decreased during 2020 compared to 2019 due primarily to the absence of new iPhone models in the fourth quarter of 2020 and the weakness in foreign currencies relative to the U.S. dollar, partially offset by the introduction of iPhone SE in the third quarter of 2020.
Financial - Shares Highlight
In April 2020, the Company announced an increase to its current share repurchase program authorization from $175 billion to $225 billion and raised its quarterly dividend from $0.1925 to $0.205 per share beginning in May 2020.
Financial - Earnings
During 2020, cash generated by...Read more
Revenue - Product
Fiscal 2020 Highlights Total net...Read more
Financial - Earnings
Services gross margin percentage increased...Read more
Other - Other
The full extent of the...Read more
Revenue - Product
The following table shows net...Read more
Revenue - Geography
Europe Europe net sales increased...Read more
Revenue - Geography
Rest of Asia Pacific Rest...Read more
Revenue - Product
The strength of the Japanese...Read more
Legal - Other
Legal and Other Contingencies As...Read more
Legal - Other
If one or more legal...Read more
Revenue - Product
Services Services net sales increased...Read more
Financial - Earnings
Products gross margin percentage decreased...Read more
Revenue - Product
Mac Mac net sales increased...Read more
Revenue - Product
iPad iPad net sales increased...Read more
Revenue - Product
Wearables, Home and Accessories Wearables,...Read more
Legal - Other
Except as described in Part...Read more
Revenue - Geography
In addition, the Company has...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Other - Other
Contractual Obligations The following table...Read more
Other - Other
Apple Inc. | 2020 Form...Read more
Revenue - Product
Revenue allocated to the product-related...Read more
Financial - Shares
Under this program, shares may...Read more
Other - Other
Resolution of these uncertainties in...Read more
Financial - Expense
If actual product failure rates...Read more
Other - Other
Apple Inc. | 2020 Form...Read more
Other - Other
The weighted-average interest rate earned...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Revenue - Geography
The weakness in foreign currencies...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Apple Inc provided additional information to their SEC Filing as exhibits

Exhibit 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.16: Material Contract

Exhibit 10.17: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: AAPL
CIK: 320193
Form Type: 10-K Annual Report
Accession Number: 0000320193-20-000096
Submitted to the SEC: Thu Oct 29 2020 6:06:25 PM EST
Accepted by the SEC: Fri Oct 30 2020
Period: Saturday, September 26, 2020
Industry: Electronic Computers