Apple 2001 Annual Report Download - page 29

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35
Item 8. Financial Statements and Supplementary Data
All financial statement schedules have been omitted, since the required information is not present or is not present in amounts sufficient to
36
REPORT OF INDEPENDENT AUDITORS
The Board of Directors and Shareholders
Apple Computer, Inc.:
We have audited the accompanying consolidated balance sheets of Apple Computer, Inc. and subsidiaries as of September 29, 2001 and
September 30, 2000, and the related consolidated statements of operations, shareholders' equity, and cash flows for each of the years in the
three-
year period ended September 29, 2001. These consolidated financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
As discussed in Note 1 to the consolidated financial statements, the Company changed its method of accounting for derivative instruments and
hedging activities in 2001.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Apple
Computer, Inc. and subsidiaries as of September 29, 2001 and September 30, 2000, and the results of their operations and their cash flows for
each of the years in the three-year period ended September 29, 2001, in conformity with accounting principles generally accepted in the United
States of America.
37
Estimated fair value $
(9
)
$
(5
)
Index to Consolidated Financial Statements
Page
Financial Statements:
Report of Independent Auditors, KPMG LLP
37
Consolidated Balance Sheets as of September 29, 2001, and September 30, 2000
38
Consolidated Statements of Operations for the three fiscal years ended September 29, 2001
39
Consolidated Statements of Shareholders' Equity for the three fiscal years ended September 29, 2001
40
Consolidated Statements of Cash Flows for the three fiscal years ended September 29, 2001
41
Notes to Consolidated Financial Statements
42
Selected Quarterly Financial Information (Unaudited)
71
KPMG LLP
Mountain View, California
October 16, 2001