Apple 2011 Annual Report Download - page 62

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Vendor Non-Trade Receivables
The Company has non-
trade receivables from certain of its manufacturing vendors resulting from the sale of components to these manufacturing
vendors who manufacture sub-
assemblies or assemble final products for the Company. The Company purchases these components directly from
suppliers. Vendor non-trade receivables from two of the Company’s vendors accounted for 53% and 29% of total non-
trade receivables as of
September 24, 2011 and vendor non-trade receivables from two of the Company’s vendors accounted for 57% and 24% of total non-
trade
receivables as of September 25, 2010. The Company does not reflect the sale of these components in net sales and does not recognize any profits
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 September 25, 2010 (in
millions):
Property, Plant and Equipment
Accrued Expenses
Non-Current Liabilities
60
2011
2010
Land and buildings
$
2,059
$
1,471
Machinery, equipment and internal
-
use software
6,926
3,589
Office furniture and equipment
184
144
Leasehold improvements
2,599
2,030
Gross property, plant and equipment
11,768
7,234
Accumulated depreciation and amortization
(3,991
)
(2,466
)
Net property, plant and equipment
$
7,777
$
4,768
2011
2010
Deferred margin on component sales
$
2,038
$
663
Accrued warranty and related costs
1,240
761
Accrued taxes
1,140
658
Accrued marketing and selling expenses
598
396
Accrued compensation and employee benefits
590
436
Other current liabilities
3,641
2,809
Total accrued expenses
$
9,247
$
5,723
2011
2010
Deferred tax liabilities
$
8,159
$
4,300
Other non
-
current liabilities
1,941
1,231
Total other non
-
current liabilities
$
10,100
$
5,531