Apple 2003 Annual Report Download - page 44

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All financial statement schedules have been omitted, since the required information is not present or is not present in amounts sufficient to
require submission of the schedule, or because the information required is included in the Consolidated Financial Statements and Notes thereto.
55
CONSOLIDATED BALANCE SHEETS
(In millions, except share amounts)
Index to Consolidated Financial Statements
Page
Financial Statements:
Consolidated Balance Sheets as of September 27, 2003 and September 28, 2002
56
Consolidated Statements of Operations for the three fiscal years ended September 27, 2003
57
Consolidated Statements of Shareholders' Equity for the three fiscal years ended September 27, 2003
58
Consolidated Statements of Cash Flows for the three fiscal years ended September 27, 2003
59
Notes to Consolidated Financial Statements
60
Selected Quarterly Financial Information (Unaudited)
100
Report of Independent Auditors, KPMG LLP
102
September 27, 2003
September 28, 2002
ASSETS:
Current assets:
Cash and cash equivalents
$
3,396
$
2,252
Short
-
term investments
1,170
2,085
Accounts receivable, less allowances of $49 and $51, respectively
766
565
Inventories
56
45
Deferred tax assets
190
166
Other current assets
309
275
Total current assets
5,887
5,388
Property, plant, and equipment, net
669
621
Goodwill
85
85
Acquired intangible assets
24
34
Other assets
150
170
Total assets
$
6,815
$
6,298
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Accounts payable
$
1,154
$
911
Accrued expenses
899
747
Current debt
304
—
Total current liabilities
2,357
1,658
Long
-
term debt
—
316
Deferred tax liabilities and other non
-
current liabilities
235
229
Total liabilities
2,592
2,203
Commitments and contingencies
Shareholders' equity:
Common stock, no par value; 900,000,000 shares authorized; 366,726,584 and