Apple 2004 Annual Report Download - page 31

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liabilities, will be sufficient to fully recover the remaining deferred tax assets. In the event that all or part of the net deferred tax assets are
determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such
determination is made. Similarly, if the Company subsequently realizes deferred tax assets that were previously determined to be unrealizable,
the respective valuation allowance would be reversed, resulting in a positive adjustment to earnings or a decrease in goodwill in the period such
determination is made. In addition, the calculation of tax liabilities involves significant judgment in estimating the impact of uncertainties in the
application of complex tax laws. Resolution of these uncertainties in a manner inconsistent with management's expectations could have a
material impact on the Company's results of operations and financial position.
Net Sales
Net sales and Macintosh unit sales by operating segment and net sales and unit sales by product follow (net sales in millions and Macintosh unit
sales in thousands):
28
2004
Change
2003
Change
2002
Net Sales by Operating Segment:
Americas net sales
$
4,019
26
%
$
3,181
2
%
$
3,131
Europe net sales
1,799
37
%
1,309
5
%
1,251
Japan net sales
677
(3
)%
698
(2
)%
710
Retail net sales
1,185
91
%
621
119
%
283
Other segments net sales (a)
599
51
%
398
8
%
367
Total net sales
$
8,279
33
%
$
6,207
8
%
$
5,742
Unit Sales by Operating Segment:
Americas Macintosh unit sales
1,682
4
%
1,620
(6
)%
1,728
Europe Macintosh unit sales
773
13
%
684
(5
)%
722
Japan Macintosh unit sales
291
(14
)%
339
(12
)%
386
Retail Macintosh unit sales
314
68
%
187
103
%
92
Other segments Macintosh unit sales (a)
230
26
%
182
5
%
173
Total Macintosh unit sales
3,290
9
%
3,012
(3
)%
3,101
Net Sales by Product:
Power Macintosh net sales (b)
$
1,419
15
%
$
1,237
(10
)%
$
1,380
PowerBook net sales
1,589
22
%
1,299
56
%
831
iMac net sales (c)
954
(23
)%
1,238
(15
)%
1,448
iBook net sales
961
34
%
717
(18
)%
875
Total Macintosh net sales
4,923
10
%
4,491
(1
)%
4,534
iPod
1,306
279
%
345
141
%
143
Other Music Products (d)
278
672
%
36
800
%
4
Peripherals and Other Hardware (e)
951
38
%
691
31
%
527
Software (f)
502
39
%
362
18
%
307
Service and other sales
319
13
%
282
24
%
227
Total net sales
$
8,279
33
%
$
6,207
8
%
$
5,742
Unit Sales by Product:
Power Macintosh unit sales (b)
709
6
%
667
(13
)%
766
PowerBook unit sales
785
30
%
604
69
%
357
iMac unit sales (c)
916
(16
)%
1,094
(16
)%
1,301
iBook unit sales
880
36
%
647
(4
)%
677