Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3: 
Apple Inc.


CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)
|    |                                                                                                                                                                      |               |         |                   |          |    |         |
|---:|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--------------|:--------|:------------------|:---------|:---|:--------|
|  1 |                                                                                                                                                                      | March 30,2024 |         | September 30,2023 |          |    |         |
|  2 | ASSETS:                                                                                                                                                              |               |         |                   |          |    |         |
|  3 | Current assets:                                                                                                                                                      |               |         |                   |          |    |         |
|  4 | Cash and cash equivalents                                                                                                                                            | $             | 32,695  |                   |          | $  | 29,965  |
|  5 | Marketable securities                                                                                                                                                | 34,455        |         |                   | 31,590   |    |         |
|  6 | Accounts receivable, net                                                                                                                                             | 21,837        |         |                   | 29,508   |    |         |
|  7 | Vendor non-trade receivables                                                                                                                                         | 19,313        |         |                   | 31,477   |    |         |
|  8 | Inventories                                                                                                                                                          | 6,232         |         |                   | 6,331    |    |         |
|  9 | Other current assets                                                                                                                                                 | 13,884        |         |                   | 14,695   |    |         |
| 10 | Total current assets                                                                                                                                                 | 128,416       |         |                   | 143,566  |    |         |
| 12 | Non-current assets:                                                                                                                                                  |               |         |                   |          |    |         |
| 13 | Marketable securities                                                                                                                                                | 95,187        |         |                   | 100,544  |    |         |
| 14 | Property, plant and equipment, net                                                                                                                                   | 43,546        |         |                   | 43,715   |    |         |
| 15 | Other non-current assets                                                                                                                                             | 70,262        |         |                   | 64,758   |    |         |
| 16 | Total non-current assets                                                                                                                                             | 208,995       |         |                   | 209,017  |    |         |
| 17 | Total assets                                                                                                                                                         | $             | 337,411 |                   |          | $  | 352,583 |
| 19 | LIABILITIES AND SHAREHOLDERS' EQUITY:                                                                                                                                |               |         |                   |          |    |         |
| 20 | Current liabilities:                                                                                                                                                 |               |         |                   |          |    |         |
| 21 | Accounts payable                                                                                                                                                     | $             | 45,753  |                   |          | $  | 62,611  |
| 22 | Other current liabilities                                                                                                                                            | 57,298        |         |                   | 58,829   |    |         |
| 23 | Deferred revenue                                                                                                                                                     | 8,012         |         |                   | 8,061    |    |         |
| 24 | Commercial paper                                                                                                                                                     | 1,997         |         |                   | 5,985    |    |         |
| 25 | Term debt                                                                                                                                                            | 10,762        |         |                   | 9,822    |    |         |
| 26 | Total current liabilities                                                                                                                                            | 123,822       |         |                   | 145,308  |    |         |
| 28 | Non-current liabilities:                                                                                                                                             |               |         |                   |          |    |         |
| 29 | Term debt                                                                                                                                                            | 91,831        |         |                   | 95,281   |    |         |
| 30 | Other non-current liabilities                                                                                                                                        | 47,564        |         |                   | 49,848   |    |         |
| 31 | Total non-current liabilities                                                                                                                                        | 139,395       |         |                   | 145,129  |    |         |
| 32 | Total liabilities                                                                                                                                                    | 263,217       |         |                   | 290,437  |    |         |
| 34 | Commitments and contingencies                                                                                                                                        |               |         |                   |          |    |         |
| 36 | Shareholders' equity:                                                                                                                                                |               |         |                   |          |    |         |
| 37 | Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively | 78,815        |         |                   | 73,812   |    |         |
| 38 | Retained earnings/(Accumulated deficit)                                                                                                                              | 4,339         |         |                   | (214)    |    |         |
| 39 | Accumulated other comprehensive loss                                                                                                                                 | (8,960)       |         |                   | (11,452) |    |         |
| 40 | Total shareholders' equity                                                                                                                                           | 74,194        |         |                   | 62,146   |    |         |
| 41 | Total liabilities and shareholders' equity                                                                                                                           | $             | 337,411 |                   |          | $  | 352,583 |

See accompanying Notes to Condensed Consolidated Financial Statements.


Apple Inc. | Q2 2024 Form 10-Q | 3







Question: What is the Financial Leverage Ratio for Apple Inc. as of March 30, 2024?
Answer: The Financial Leverage Ratio for Apple Inc. as of March 30, 2024, is calculated as follows:
Financial Leverage Ratio = Total Assets / Shareholders' Equity
Total Assets = $337,411 million
Shareholders' Equity = $74,194 million
Financial Leverage Ratio = 337,411 / 74,194 = 4.55