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APPLE INC
FORM 10-K
(Annual Report)
Filed 10/26/11 for the Period Ending 09/24/11
Address ONE INFINITE LOOP
CUPERTINO, CA 95014
Telephone (408) 996-1010
CIK 0000320193
Symbol AAPL
SIC Code 3571 - Electronic Computers
Industry Computer Hardware
Sector Technology
Fiscal Year 09/30
http://www.edgar-online.com
© Copyright 2011, EDGAR Online, Inc. All Rights Reserved.
Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use.

Table of contents

  • Page 1
    ...INC FORM 10-K (Annual Report) Filed 10/26/11 for the Period Ending 09/24/11 Address Telephone CIK Symbol SIC Code Industry Sector Fiscal Year ONE INFINITE LOOP CUPERTINO, CA 95014 (408) 996-1010 0000320193 AAPL 3571 - Electronic Computers Computer Hardware Technology 09/30 http://www.edgar-online...

  • Page 2
    ...,000 shares of Common Stock Issued and Outstanding as of October 14, 2011 DOCUMENTS INCORPORATED BY REFERENCE (1) Portions of the registrant's definitive Proxy Statement relating to its 2012 Annual Meeting of Shareholders are incorporated by reference into Part III of this Annual Report on Form 10...

  • Page 3
    ...iOS devices," namely iPhone, iPad and iPod touch ® . In January 2011, the Company opened the Mac App Store to allow customers to easily discover, download and install applications for their Macs. The Company also supports a community for the development of third-party software and hardware products...

  • Page 4
    ... customers. The Company also supports mobile learning and real-time distribution and accessibility of education related materials through iTunes Uâ„¢, a platform that allows students and teachers to share and distribute educational media online. The Company sells its products to the education market...

  • Page 5
    ... from users' iTunes libraries, as well as contacts, bookmarks, and email accounts. iPhone allows customers to access the iTunes Store to download audio and video files, as well as a variety of other digital content and applications. In October 2011, the Company launched iPhone 4S, its latest version...

  • Page 6
    ... iTunes in the Cloud, Photo Stream, Documents in the Cloud, Contacts, Calendar, Mail, automatic downloads and purchase history for applications and iBooks, and iCloud Backup. Users can sign up for free access to iCloud using a device running iOS 5 or a Mac running Mac OS X Lion. Software Products...

  • Page 7
    ... streamed to a television through Apple TV. With the release of iCloud in October 2011, content purchased on Apple TV can be re-downloaded on iOS devices. Product Support and Services AppleCare ® offers a range of support options for the Company's customers. These options include assistance...

  • Page 8
    ..., SMB, and education, enterprise and government markets. The Company uses a variety of direct and indirect distribution channels, such as its retail stores, online stores, and direct sales force, and third-party cellular network carriers, wholesalers, retailers, and value-added resellers. The...

  • Page 9
    ... its financial condition and operating results. The Company and other participants in the mobile communication and media device, and personal computer industries compete for various components with other industries that have experienced increased demand for their products. The Company also uses some...

  • Page 10
    ... Item 8 of this Form 10-K and in Notes to Consolidated Financial Statements in Note 8, "Segment Information and Geographic Data." Seasonal Business The Company has historically experienced increased net sales in its first fiscal quarter compared to other quarters in its fiscal year due to increased...

  • Page 11
    ...particular level of revenue or financial performance. Employees As of September 24, 2011, the Company had approximately 60,400 full-time equivalent employees and an additional 2,900 full-time equivalent temporary employees and contractors. Available Information The Company's Annual Report on Form 10...

  • Page 12
    ...in that it designs and develops nearly the entire solution for its products, including the hardware, operating system, numerous software applications, and related services. As a result, the Company must make significant investments in research and development and as such, the Company currently holds...

  • Page 13
    ... not limited to timely and successful product development, market acceptance, the Company's ability to manage the risks associated with new products and production ramp issues, the availability of application software for new products, the effective management of purchase commitments and inventory...

  • Page 14
    ..., information technology system failures, military actions or economic, business, labor, environmental, public health, or political issues, the Company's financial condition and operating results could be materially adversely affected. The Company relies on third-party intellectual property and...

  • Page 15
    ... Company's consolidated financial statements of a particular reporting period could be materially adversely affected. The Company's future performance depends in part on support from third-party software developers. The Company believes decisions by customers to purchase its hardware products depend...

  • Page 16
    ... of the Company and its products, the anticipated revenue that may be generated, continued acceptance by customers of Mac OS X, and the costs of developing such applications and services. If the Company's minority share of the global personal computer market causes developers to question the Company...

  • Page 17
    ...affect the Company's financial condition and operating results. The Company's products and services experience quality problems from time to time that can result in decreased sales and operating margin. The Company sells complex hardware and software products and services that can contain design and...

  • Page 18
    ... suppliers. The majority of the Company's research and development activities, its corporate headquarters, information technology systems, and other critical business operations, including certain component suppliers and manufacturing vendors, are in locations that could be affected by natural...

  • Page 19
    ...financial, legal, and operational consequences. The Company's business requires it to use and store customer, employee, and business partner personally identifiable information ("PII"). This may include names, addresses, phone numbers, email addresses, contact preferences, tax identification numbers...

  • Page 20
    ... increase in payment card transaction costs. The Company expects its quarterly revenue and operating results to fluctuate. The Company's profit margins vary among its products and its distribution channels. The Company's software, accessories, and service and support contracts generally have...

  • Page 21
    ...accounts receivable, vendor non-trade receivables and prepayments related to long-term supply agreements. This risk is heightened during periods when economic conditions worsen. The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and value-added...

  • Page 22
    ... is located in Cupertino, California will be demolished to build a second corporate campus. Additionally, the Company owns a total of 584 acres of land in various locations. As of September 24, 2011, the Company owned a manufacturing facility in Cork, Ireland that also housed a customer support call...

  • Page 23
    ... its existing facilities and equipment are in good operating condition and are suitable for the conduct of its business. The Company has invested in internal capacity and strategic relationships with outside manufacturing vendors and continues to make investments in capital equipment as needed to...

  • Page 24
    ... Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The Company's common stock is traded on the over-the-counter market and is quoted on the NASDAQ Global Select Market under the symbol AAPL. Price Range of Common Stock The price range per share of common stock presented...

  • Page 25
    ...comparison of cumulative total shareholder return, calculated on a dividend reinvested basis, for the Company, the S&P 500 Composite Index, the S&P Computer Hardware Index, and the Dow Jones U.S. Technology Index. The graph assumes $100 was invested in each of the Company's common stock, the S&P 500...

  • Page 26
    ... Earnings per common share: Basic Diluted Cash dividends declared per common share Shares used in computing earnings per share: Basic Diluted Total cash, cash equivalents and marketable securities Total assets Total long-term obligations (a) Total liabilities Total shareholders' equity (a) $108,249...

  • Page 27
    ..., iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a variety of accessory, service and support offerings. The Company also sells and delivers digital content and applications through the iTunes Store, App...

  • Page 28
    ... Accounting Policies and Estimates The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles ("GAAP") and the Company's discussion and analysis of its financial condition and operating results require the Company's management...

  • Page 29
    ... accounting policies and related disclosures with the Audit and Finance Committee of the Company's Board of Directors. Revenue Recognition Net sales consist primarily of revenue from the sale of hardware, software, digital content and applications, peripherals, and service and support contracts...

  • Page 30
    ... revenue, which would have a negative impact on the Company's results of operations. Valuation and Impairment of Marketable Securities The Company's investments in available-for-sale securities are reported at fair value. Unrealized gains and losses related to changes in the fair value of securities...

  • Page 31
    ... and recorded. Warranty Costs The Company provides for the estimated cost of hardware and software warranties at the time the related revenue is recognized based on historical and projected warranty claim rates, historical and projected cost-per-claim, and knowledge of specific product failures that...

  • Page 32
    ... sales Europe net sales Japan net sales Asia-Pacific net sales Retail net sales Total net sales Net Sales by Product: Desktops (a) Portables (b) Total Mac net sales iPod Other music related products and services (c) iPhone and related products and services (d) iPad and related products and services...

  • Page 33
    ... in its customer base of iPhone, iPad and iPod, expansion of third-party audio and video content available via the iTunes Store, and continued interest in and growth of the App Store. Net sales of other music related products and services accounted for 6% of the Company's total net sales for 2011...

  • Page 34
    ... channels, certain cellular network carriers' distribution channels and certain third-party resellers. Net sales of iPad and related products and services accounted for 8% of the Company's total net sales for 2010, reflecting the strong demand for iPad during the five months following its release...

  • Page 35
    ... similar hardware and software products and similar services. Further information regarding the Company's operating segments may be found in Note 8, "Segment Information and Geographic Data" in Notes to Consolidated Financial Statements of this Form 10-K. Americas During 2011, net sales in the...

  • Page 36
    ... full-time equivalent employees and had outstanding lease commitments associated with retail space and related facilities of $2.4 billion. The Company would incur substantial costs if it were to close multiple retail stores and such costs could adversely affect the Company's financial condition and...

  • Page 37
    ... to manage product quality and warranty costs effectively and to stimulate demand for certain of its products. Due to the Company's significant international operations, financial results can be significantly affected in the short-term by fluctuations in exchange rates. Operating Expenses Operating...

  • Page 38
    ... in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company's core business strategy. As such, the Company expects to make further investments in R&D to remain competitive. Selling, General and Administrative Expense ("SG&A") SG...

  • Page 39
    ... Capital Resources The following table presents selected financial information and statistics as of and for the three years ended September 24, 2011 (in millions): 2011 2010 2009 Cash, cash equivalents and marketable securities Accounts receivable, net Inventories Working capital Annual operating...

  • Page 40
    ... for product tooling and manufacturing process equipment, and corporate facilities and infrastructure, including information systems hardware, software and enhancements. During 2012, the Company expects to open about 40 new retail stores, approximately three-quarters of which will be located outside...

  • Page 41
    ... respect to indemnification of end-users of its operating system or application software for infringement of third-party intellectual property rights. The Company did not record a liability for infringement costs related to indemnification as of either September 24, 2011 or September 25, 2010. The...

  • Page 42
    ... interest rates affect the interest earned on the Company's cash, cash equivalents and marketable securities, the fair value of those securities, as well as costs associated with hedging. The Company's investment policy and strategy are focused on preservation of capital and supporting the liquidity...

  • Page 43
    ... with the Company's investment portfolio and derivative positions may differ materially from the sensitivity analyses performed as of September 24, 2011 due to the inherent limitations associated with predicting the timing and amount of changes in interest rates, foreign currency exchanges rates and...

  • Page 44
    ... ended September 24, 2011 Consolidated Statements of Cash Flows for the three years ended September 24, 2011 Notes to Consolidated Financial Statements Selected Quarterly Financial Information (Unaudited) Reports of Ernst & Young LLP, Independent Registered Public Accounting Firm 43 44 45 46 47...

  • Page 45
    ... STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Three years ended September 24, 2011 2011 2010 2009 Net sales Cost of sales Gross margin Operating expenses: Research and development Selling, general and administrative Total...

  • Page 46
    ...Deferred tax assets Vendor non-trade receivables Other current assets Total current assets Long-term marketable securities Property, plant and equipment, net Goodwill Acquired intangible assets, net Other assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable...

  • Page 47
    ... marketable securities, net of tax Change in unrecognized gains/losses on derivative instruments, net of tax Total comprehensive income Share-based compensation Common stock issued under stock plans, net of shares withheld for employee taxes Tax benefit from equity awards, including transfer pricing...

  • Page 48
    ... activities Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net of cash acquired Payments for acquisition of property, plant and equipment...

  • Page 49
    ... "Company") designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company sells its...

  • Page 50
    ...non-software services that are attached to hardware and software products. The Company sells gift cards redeemable at its retail and online stores, and also sells gift cards redeemable on the iTunes Store for the purchase of content and software. The Company records deferred revenue upon the sale of...

  • Page 51
    ... total selling price of the product. The Company may also consider, when appropriate, the impact of other products and services, including advertising services, on selling price assumptions when developing and reviewing its ESPs for software upgrade rights and related deliverables. The Company may...

  • Page 52
    ...2011 the Company defers all revenue from the sale of upgrades to the Mac OS and Mac versions of iLife and recognizes it ratably over 36 months. Shipping Costs For all periods presented, amounts billed to customers related to shipping and handling are classified as revenue, and the Company's shipping...

  • Page 53
    ...domestic manufacturing deductions in the Consolidated Statements of Operations. Further information regarding share-based compensation can be found in Note 6, "Shareholders' Equity and Sharebased Compensation" of this Form 10-K. Income Taxes The provision for income taxes is computed using the asset...

  • Page 54
    ... of three months or less at the date of purchase are classified as cash equivalents. The Company's marketable debt and equity securities have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and...

  • Page 55
    ... definite lives over periods generally ranging between three to seven years. Fair Value Measurements The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements...

  • Page 56
    ... the Company's results of operations. Segment Information The Company reports segment information based on the "management" approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company's reportable...

  • Page 57
    ... the Company's cash and available-for-sale securities' adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash and cash equivalents or short-term or long-term marketable securities as of September 24, 2011 and September...

  • Page 58
    ... foreign currency exposure associated with revenue and inventory purchases generally up to six months. To help protect the net investment in a foreign operation from adverse changes in foreign currency exchange rates, the Company may enter into foreign currency forward and option contracts to offset...

  • Page 59
    investment hedges are recorded in other income and expense. Derivatives that are not designated as hedging instruments are adjusted to fair value through earnings in the financial statement line item the derivative relates to. The Company had a net deferred gain associated with cash flow hedges of ...

  • Page 60
    ... when the net fair value of certain financial instruments fluctuates from contractually established thresholds. The Company presents its derivative assets and derivative liabilities at their gross fair values. As of September 24, 2011, the Company received cash collateral related to the derivative...

  • Page 61
    ... in AOCI related to derivatives. (b) (c) Accounts Receivable Trade Receivables The Company has considerable trade receivables outstanding with its third-party cellular network carriers, wholesalers, retailers, value-added resellers, small and mid-sized businesses, and education, enterprise and...

  • Page 62
    ... on these sales until the related products are sold by the Company, at which time any profit is recognized as a reduction of cost of sales. Note 3 - Consolidated Financial Statement Details The following tables show the Company's consolidated financial statement details as of September 24, 2011 and...

  • Page 63
    ...and Europe reportable operating segments. Amortization expense related to acquired intangible assets was $192 million, $69 million and $53 million in 2011, 2010 and 2009, respectively. As of September 24, 2011 the weighted-average amortization period for acquired intangible assets was 6.2 years. The...

  • Page 64
    ...'s consolidated financial statements provide for any related tax liability on amounts that may be repatriated, aside from undistributed earnings of certain of the Company's foreign subsidiaries that are intended to be indefinitely reinvested in operations outside the U.S. As of September 24, 2011...

  • Page 65
    ... by the tax benefits from employee stock plan awards. For stock options, the Company receives an income tax benefit calculated as the difference between the fair market value of the stock issued at the time of the exercise and the option price, tax effected. For RSUs, the Company receives an income...

  • Page 66
    ... 12 months. Note 6 - Shareholders' Equity and Share-based Compensation Preferred Stock The Company has five million shares of authorized preferred stock, none of which is issued or outstanding. Under the terms of the Company's Restated Articles of Incorporation, the Board of Directors is authorized...

  • Page 67
    ...four years, based on continued employment and are settled upon vesting in shares of the Company's common stock on a one-for-one basis. Each share issued with respect to an award granted under the 2003 Plan (other than a stock option or stock appreciation right) reduces the number of shares available...

  • Page 68
    ...the "Exchange Act"). A trading plan is a written document that pre-establishes the amounts, prices and dates (or a formula for determining the amounts, prices and dates) of future purchases or sales of the Company's stock, including the exercise and sale of employee stock options and shares acquired...

  • Page 69
    Restricted Stock Units A summary of the Company's RSU activity and related information for the three years ended September 24, 2011, is as follows (in thousands, except per share amounts): WeightedAverage Grant Date Fair Value Aggregate Intrinsic Value Number of RSUs Balance at September 27, 2008 ...

  • Page 70
    ...Company's stock option activity and related information for the three years ended September 24, 2011, is as follows (in thousands, except per share amounts and contractual term in years): Outstanding Options WeightedAverage WeightedRemaining Contractual Average Exercise Price Term Number of Options...

  • Page 71
    ... a summary of the share-based compensation expense included in the Consolidated Statements of Operations for the three years ended September 24, 2011 (in millions): 2011 2010 2009 Cost of sales Research and development Selling, general and administrative Total share-based compensation expense...

  • Page 72
    ... respect to indemnification of end-users of its operating system or application software for infringement of third-party intellectual property rights. The Company did not record a liability for infringement costs related to indemnification as of either September 24, 2011 or September 25, 2010. The...

  • Page 73
    ... prepayments and to acquire capital equipment, commitments to acquire product tooling and manufacturing process equipment, and commitments related to advertising, research and development, Internet and telecommunications services and other obligations. Contingencies The Company is subject to various...

  • Page 74
    ...management reporting purposes. Segment assets exclude corporate assets, such as cash and cash equivalents, short-term and long-term marketable securities, other long-term investments, manufacturing and corporate facilities, product tooling and manufacturing process equipment, miscellaneous corporate...

  • Page 75
    ...segment depreciation and asset figures reflect the cost and related depreciation of its retail stores and related infrastructure. A reconciliation of the Company's segment operating income and assets to the consolidated financial statements for the three years ended September 24, 2011 is as follows...

  • Page 76
    ...of product tooling and manufacturing process equipment and assets related to retail stores and related infrastructure. Information regarding net sales by product for the three years ended September 24, 2011, is as follows (in millions): 2011 2010 2009 Desktops (a) Portables (b) Total Mac net sales...

  • Page 77
    ... Company's quarterly financial information for each of the four quarters ended September 24, 2011 and September 25, 2010 (in millions, except per share amounts): Fourth Quarter Third Quarter Second Quarter First Quarter 2011 Net sales Gross margin Net income Earnings per common share: Basic Diluted...

  • Page 78
    ... of Apple Inc. as of September 24, 2011 and September 25, 2010, and the related consolidated statements of operations, shareholders' equity and cash flows for each of the three years in the period ended September 24, 2011. These financial statements are the responsibility of the Company's management...

  • Page 79
    ... LLP, Independent Registered Public Accounting Firm The Board of Directors and Shareholders of Apple Inc. We have audited Apple Inc.'s internal control over financial reporting as of September 24, 2011, based on criteria established in Internal Control - Integrated Framework issued by the Committee...

  • Page 80
    ... processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms and (ii) accumulated and communicated to the Company's management, including its principal executive officer and principal financial officer, as appropriate to allow timely...

  • Page 81
    ... in connection with management's evaluation required by paragraph (d) of rules 13a-15 and 15d-15 under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting. Item 9B. Other Information Not applicable...

  • Page 82
    ... "Security Ownership of Certain Beneficial Owners and Management" and "Equity Compensation Plan Information" in the Company's 2012 Proxy Statement and is incorporated herein by reference. Item 13. Certain Relationships and Related Transactions, and Director Independence The information required...

  • Page 83
    ... 24, 2011 Consolidated Statements of Cash Flows for the three years ended September 24, 2011 Notes to Consolidated Financial Statements Selected Quarterly Financial Information (Unaudited) Reports of Ernst & Young LLP, Independent Registered Public Accounting Firm ( 2) Financial Statement Schedule...

  • Page 84
    ... in any and all capacities, to sign any amendments to this Annual Report on Form 10-K, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his...

  • Page 85
    ... of California on July 10, 2009. Bylaws of the Registrant, as amended through April 20, 2011. Form of Stock Certificate of the Registrant. Employee Stock Purchase Plan, as amended through March 8, 2010. Form of Indemnification Agreement between the Registrant and each director and executive officer...

  • Page 86
    Exhibit 14.1 Business Conduct The way we do business worldwide

  • Page 87
    ... to proceed, discuss pending decisions with your manager, your Human Resources representative, or the Legal Department. If you need more support, contact the Business Conduct Helpline. Retaliation is Not Tolerated Business Conduct The way we do business worldwide July 2011 Apple will not retaliate...

  • Page 88
    ...-Party Information Nondisclosure Agreements Obtaining and Using Business Intelligence Third-Party Intellectual Property Copyright-Protected Content Giving and Receiving Business Gifts Kickbacks Side Deals or Side Letters Competition and Trade Practices Endorsements Open Source Software Governments...

  • Page 89
    ... may I use an existing customer list to market other Apple products or services? Before using a customer list for marketing, sales, or other activities, talk to your manager or the Legal Department. Using an existing customer list may or may not be appropriate. Customer and Third-Party Information...

  • Page 90
    ... giving equipment to a company or organization, provided the gift is openly given, consistent with legal requirements, and in Apple's business interests. The policy also does not preclude the attendance of Apple employees at business-related social functions, if attendance is approved by management...

  • Page 91
    ... a free software or open source license. Before using or modifying any open source software for Apple infrastructure or as part of an Apple product or service development effort, you must review Apple's Open Source Policy and contact the Legal Department for approval using the forms referenced in...

  • Page 92
    ... may not use Apple assets (including employee work time, or use of Apple premises, equipment, or funds) to personally support candidates and campaigns. It is illegal for Apple to reimburse an employee for a contribution. For more information, see the Apple Corporate Political Compliance Policy and...

  • Page 93
    ... sanctioned country, imports or exports, new investments, and other related topics. Certain laws also prohibit support of boycott activities. See Apple's Export Control policy for more information. If your work involves the sale or shipment of products, technologies, or services across international...

  • Page 94
    ..., information related to current and future products and services, confidential market research, sales and marketing plans, nonpublic earnings or financial data, and organizational charts and information. Follow procurement policies and procedures when acquiring goods or services on behalf of Apple...

  • Page 95
    ... of stock options, Apple does not provide loans or advances of corporate funds to its employees, officers, Board members, or their families and does not guarantee their obligations. If I suspect money laundering, what should I do? Advise your manager or contact the Apple Legal Department. Money...

  • Page 96
    ... business worldwide July 2011 11 Document Retention and Legal Hold As an Apple employee, you have a responsibility to manage documents and make decisions on document retention. The definition of "document" is extremely broad. For example, every email or other electronic file, every customer record...

  • Page 97
    ...about a potential conflict, talk to your manager, contact Human Resources, check with the Legal Department, or contact the Business Conduct Helpline. Do not conduct Apple business with family members or others with whom you have a significant personal relationship. In rare cases where exceptions may...

  • Page 98
    ... concerning that stock. In addition, employees are prohibited from investing in derivatives of Apple's securities. This includes, but is not limited to, trading in put or call options related to securities of the company. Members of Apple's Board of Directors, executive officers, and certain...

  • Page 99
    ..., Apple may monitor equipment and systems. If in doubt, check with the Legal Department. Privacy Subject to rules or regulations affecting an employee's rights, Apple may monitor or search its work environments, including equipment, networks, mail, and electronic systems, without notice. Apple...

  • Page 100
    ... way we do business worldwide July 2011 15 Always apply Apple's principles of business conduct, follow Apple policies, and comply with laws and regulations. When you are unsure, take the initiative to investigate the right course of action. Check with your manager, Human Resources, Legal, Internal...

  • Page 101
    ... Helpline Buying and Selling Stock: Blackout Periods Buying and Selling Stock: Insider Trading Community Affairs Confidential, Proprietary, and Trade Secret Information Copyright Information Copyright Policy Corporate Identity Guidelines Customer Privacy Policy Diversity Employee Assistance Program...

  • Page 102
    ... Intellectual Property Legal Department Contacts Mail and Electronic Communications Name and Logo Use Questions: [email protected] Nondisclosure and Confidentiality Agreements Open Communication Open Source Software Outside Business Activities Patent Information Patent Policy Personal Relationships...

  • Page 103
    Exhibit 21.1 SUBSIDIARIES OF APPLE INC.* Jurisdiction of Incorporation Apple Sales International Apple Operations International Braeburn Capital, Inc. * Ireland Ireland Nevada, U.S. Pursuant to Item 601(b)(21)(ii) of Regulation S-K, the names of other subsidiaries of Apple Inc. are omitted ...

  • Page 104
    ...) of Apple Inc. of our reports dated October 26, 2011 with respect to the consolidated financial statements of Apple Inc., and the effectiveness of internal control over financial reporting of Apple Inc., included in this Annual Report on Form 10-K for the year ended September 24, 2011. /s/ Ernst...

  • Page 105
    ..., the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; The registrant's other certifying officer...

  • Page 106
    ..., the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; The registrant's other certifying officer...

  • Page 107
    ... for the fiscal year ended September 24, 2011 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Form 10-K fairly presents in all material respects the financial condition and results of operations of Apple Inc...