Apple 2009 Annual Report Download - page 16

Download and view the complete annual report

Please find page 16 of the 2009 Apple annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 106

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106

Table of Contents
Employees
As of September 26, 2009, the Company had approximately 34,300 full-time equivalent employees and an additional 2,500 full-
time equivalent
temporary employees and contractors.
Available Information
The Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-
K, and amendments to reports filed
pursuant to Sections 13(a) and 15(d) of the Securities Exchange Act of 1934, as amended (“Exchange Act”),
are filed with the U.S. Securities
and Exchange Commission (the “SEC”).
Such reports and other information filed by the Company with the SEC are available free of charge on
the Company’s website at http://www.apple.com/investor
when such reports are available on the SEC website. The public may read and copy
any materials filed by the Company with the SEC at the SEC’
s Public Reference Room at 100 F Street, NE, Room 1580, Washington, DC
20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-
0330. The SEC
maintains an Internet site that contains reports, proxy and information statements and other information regarding issuers that file electronically
with the SEC at http://www.sec.gov . The contents of these websites are not incorporated into this filing. Further, the Company’
s references to
the URLs for these websites are intended to be inactive textual references only.
Because of the following factors, as well as other factors affecting the Company’
s financial condition and operating results, past financial
performance should not be considered to be a reliable indicator of future performance, and investors should not use historical trends to anticipate
results or trends in future periods.
Economic conditions could materially adversely affect the Company.
The Company’
s operations and performance depend significantly on worldwide economic conditions. Uncertainty about current global
economic conditions poses a risk as consumers and businesses may continue to postpone spending in response to tighter credit, unemployment,
negative financial news and/or declines in income or asset values, which could have a material negative effect on demand for the Company’
s
products and services. Demand also could differ materially from the Company’
s expectations since the Company generally raises prices on
goods and services sold outside the U.S. to offset the effect of the strengthening of the U.S. dollar, a trend that has been very pronounced
recently. Other factors that could influence demand include increases in fuel and other energy costs, conditions in the real estate and mortgage
markets, labor and healthcare costs, access to credit, consumer confidence, and other macroeconomic factors affecting consumer spending
behavior. These and other economic factors could materially adversely affect demand for the Company’
s products and services and on the
Company’s financial condition and operating results.
In the event of renewed financial turmoil affecting the banking system and financial markets, additional consolidation of the financial services
industry, or significant financial service institution failures, there could be a new or incremental tightening in the credit markets, low liquidity,
and extreme volatility in fixed income, credit, currency, and equity markets. In addition, the risk remains that there could be a number of follow-
on effects from the credit crisis on the Company’
s business, including the insolvency of key suppliers or their inability to obtain credit to finance
development and/or manufacture products resulting in product delays; inability of customers, including channel partners, to obtain credit to
finance purchases of the Company’
s products and/or customer, including channel partner, insolvencies; and failure of derivative counterparties
and other financial institutions negatively impacting the Company’
s treasury operations. Other income and expense also could vary materially
from expectations depending on gains or losses realized on the sale or exchange of financial instruments; impairment charges resulting from
revaluations of debt and equity securities and other investments; interest rates; cash balances; and changes in fair value of derivative
instruments. Increased volatility in the financial markets and overall economic uncertainty would increase the risk of the actual amounts realized
in the future on the Company’s financial instruments differing significantly from the fair values currently assigned to them.
13
Item 1A.
Risk Factors