--- Page 1 --- 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 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Net sales: Products /dollarsign 67,184 /dollarsign 70,958 /dollarsign 298,085 /dollarsign 316,199 Services 22,314 19,188 85,200 78,129 Total net sal es (1) 89,498 90,146 383,285 394,328 Cost of sales: Products 42,586 46,387 189,282 201,471 Services 6,485 5,664 24,855 22,075 Total cost of sal es 49,071 52,051 214,137 223,546 Gross margin 40,427 38,095 169,148 170,782 Operating expenses: Research and development 7,307 6,761 29,915 26,251 Selling, general and administrative 6,151 6,440 24,932 25,094 Total operat i ng expenses 13,458 13,201 54,847 51,345 Operating income 26,969 24,894 114,301 119,437 Other income/(expense), net 29 (237) (565) (334) Income before provision for income taxes 26,998 24,657 113,736 119,103 Provision for income taxes 4,042 3,936 16,741 19,300 Net income /dollarsign 22,956 /dollarsign 20,721 /dollarsign 96,995 /dollarsign 99,803 Earnings per share: Basic /dollarsign 1.47 /dollarsign 1.29 /dollarsign 6.16 /dollarsign 6.15 Diluted /dollarsign 1.46 /dollarsign 1.29 /dollarsign 6.13 /dollarsign 6.11 Shares used in computing earnings per share: Basic 15,599,434 16,030,382 15,744,231 16,215,963 Diluted 15,672,400 16,118,465 15,812,547 16,325,819 (1) Net sales by reportable segment: Americas /dollarsign 40,115 /dollarsign 39,808 /dollarsign 162,560 /dollarsign 169,658 Europe 22,463 22,795 94,294 95,118 Greater China 15,084 15,470 72,559 74,200 Japan 5,505 5,700 24,257 25,977 Rest of Asia Pacific 6,331 6,373 29,615 29,375 Total net sal es /dollarsign 89,498 /dollarsign 90,146 /dollarsign 383,285 /dollarsign 394,328 (1) Net sales by category: iPhone /dollarsign 43,805 /dollarsign 42,626 /dollarsign 200,583 /dollarsign 205,489 Mac 7,614 11,508 29,357 40,177 iPad 6,443 7,174 28,300 29,292 Wearables, Home and Accessories 9,322 9,650 39,845 41,241 Services 22,314 19,188 85,200 78,129 Total net sal es /dollarsign 89,498 /dollarsign 90,146 /dollarsign 383,285 /dollarsign 394,328 --- Page 2 --- Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value) September 30, 2023 September 24, 2022 ASSETS: Current assets: Cash and cash equivalents /dollarsign 29,965 /dollarsign 23,646 Marketable securities 31,590 24,658 Accounts receivable, net 29,508 28,184 Vendor non-trade receivables 31,477 32,748 Inventories 6,331 4,946 Other current assets 14,695 21,223 Total cur rent assets 143,566 135,405 Non-current assets: Marketable securities 100,544 120,805 Property, plant and equipment, net 43,715 42,117 Other non-current assets 64,758 54,428 Total non-current assets 209,017 217,350 Total assets /dollarsign 352,583 /dollarsign 352,755 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities: Accounts payable /dollarsign 62,611 /dollarsign 64,115 Other current liabilities 58,829 60,845 Deferred revenue 8,061 7,912 Commercial paper 5,985 9,982 Ter m debt 9,822 11,128 Total cur rent l i abi l i t i es 145,308 153,982 Non-current liabilities: Ter m debt 95,281 98,959 Other non-current liabilities 49,848 49,142 Total non-current liabilities 145,129 148,101 Total l i abi l i t i es 290,437 302,083 Commitments and contingencies Shareholders’ equity: Common stock and additional paid-in capital, /dollarsign0.00001 par value: 50,400,000 shares authorized; 15,550,061 and 15,943,425 shares issued and outstanding, respectively 73,812 64,849 Accumulated deficit (214) (3,068) Accumulated other comprehensive loss (11,452) (11,109) Total sharehol ders’ equi t y 62,146 50,672 Total l i abi l i t i es and sharehol ders’ equi t y /dollarsign 352,583 /dollarsign 352,755 --- Page 3 --- Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) Twelve Months Ended September 30, 2023 September 24, 2022 Cash, cash equivalents and restricted cash, beginning balances /dollarsign 24,977 /dollarsign 35,929 Operating activities: Net income 96,995 99,803 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 11,519 11,104 Share-based compensation expense 10,833 9,038 Other (2,227) 1,006 Changes in operating assets and liabilities: Accounts receivable, net (1,688) (1,823) Vendor non-trade receivables 1,271 (7,520) Inventories (1,618) 1,484 Other current and non-current assets (5,684) (6,499) Accounts payable (1,889) 9,448 Other current and non-current liabilities 3,031 6,110 Cash generated by operating activities 110,543 122,151 Investing activities: Purchases of marketable securities (29,513) (76,923) Proceeds from maturities of marketable securities 39,686 29,917 Proceeds from sales of marketable securities 5,828 37,446 Payments for acquisition of property, plant and equipment (10,959) (10,708) Other (1,337) (2,086) Cash generated by/(used in) investing activities 3,705 (22,354) Financing activities: Payments for taxes related to net share settlement of equity awards (5,431) (6,223) Payments for dividends and dividend equivalents (15,025) (14,841) Repurchases of common stock (77,550) (89,402) Proceeds from issuance of term debt, net 5,228 5,465 Repayments of term debt (11,151) (9,543) Proceeds from/(Repayments of) commercial paper, net (3,978) 3,955 Other (581) (160) Cash used in financing activities (108,488) (110,749) Increase/(Decrease) in cash, cash equivalents and restricted cash 5,760 (10,952) Cash, cash equivalents and restricted cash, ending balances /dollarsign 30,737 /dollarsign 24,977 Supplemental cash flow disclosure: Cash paid for income taxes, net /dollarsign 18,679 /dollarsign 19,573 Cash paid for interest /dollarsign 3,803 /dollarsign 2,865