Apple 2007 Annual Report Download - page 44

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subject to various legal proceedings and claims that arise in the ordinary course of business. The Company records a contingent liability when it
is probable that a loss has been incurred and the amount is reasonably estimable in accordance with SFAS No. 5, Accounting for Contingencies .
There is significant judgment required in both the probability determination and as to whether an exposure can be reasonably estimated. In
management's opinion, the Company does not have a potential liability related to any current legal proceedings and claims that would
individually or in the aggregate have a material adverse effect on its financial condition or operating results. However, the outcomes of legal
proceedings and claims brought against the Company are subject to significant uncertainty. Should the Company fail to prevail in any of these
legal matters or should several of these legal matters be resolved against the Company in the same reporting period, the operating results of a
particular reporting period could be materially adversely affected.
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