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Apple Return of Capital and Net Cash Position
1. Cash includes cash and cash equivalents, short-term and long-term marketable securities.  
2. Debt includes commercial paper and repurchase agreements; as of September 27, 2025, the Company had $8.0 billion of commercial paper outstanding.
Note: Numbers may not add precisely due to rounding
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$ in Billions Buyback Ending Balance
Fiscal Periods
Open 
Market
Accelerated 
Share 
Repurchase Total
Dividends 
and 
Equivalents
Net Share 
Settlement
Capital 
Returned Cash Debt Net Cash
FY’12 - FY’17 $98.0 $68.0 $166.0 $60.7 $7.2 $233.9 $269 $116 $153
FY’18 $68.1 $5.0 $73.1 $13.7 $2.5 $89.3 $237 $114 $123
FY’19 $55.1 $12.0 $67.1 $14.1 $2.8 $84.0 $206 $108 $98
FY’20 $56.5 $16.0 $72.5 $14.1 $3.6 $90.2 $192 $112 $79
FY’21 $80.5 $5.0 $85.5 $14.5 $6.6 $106.5 $191 $125 $66
FY’22 $84.2 $6.0 $90.2 $14.8 $6.2 $111.3 $169 $120 $49
FY’23 $71.6 $5.0 $76.6 $15.0 $5.4 $97.1 $162 $111 $51
FY’24 $95.0 - $95.0 $15.2 $5.4 $115.7 $157 $107 $50
Q1’25 $23.3 - $23.3 $3.9 $2.9 $30.1 $141 $97 $45
Q2’25 $25.0 - $25.0 $3.8 $0.3 $29.0 $133 $98 $35
Q3’25 $21.0 - $21.0 $3.9 $2.5 $27.5 $133 $102 $31
Q4’25 $20.0 - $20.0 $3.9 $0.2 $24.1 $132 $99 $34
Total Return through Q4’25 $698.3 $117.0 $815.2 $177.6 $45.8 $1,038.6
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