Security Ownership of 5% Holders, Directors, Nominees and Executive Officers
## Table 0 ##
(1) Represents shares of Common Stock held and/or options held by such individuals that were exercisable at the Table Date or within 60 days thereafter.
This does not include options or restricted stock units that vest after 60 days.
The share numbers have been adjusted to reflect the Company’s two-for-one stock split in February 2005.
(2) Based on a Form 13G/A filed February 14, 2005 by FMR Corp.  FMR Corp.  lists its address as 82 Devonshire Street, Boston, MA 02109, in such filing.
(3) Based on a Form 13F filed January 25, 2006, by Barclays Global Investors.
Barclays Global Investors lists its address as 45 Fremont Street, San Francisco, CA 94105.
(4) Includes 120,000 shares of Common Stock that Mr.  Jobs has the right to acquire by exercise of stock options.
(5) Includes 220,000 shares of Common Stock that Mr.  Campbell has the right to acquire by exercise of stock options.
(6) Excludes 600,000 unvested restricted stock units.
(7) Includes 40,000 shares of Common Stock that Mr.  Drexler holds indirectly and 180,000 shares of Common Stock that Mr.  Drexler has the right to acquire by exercise of stock options.
(8) Consists of 60,000 shares of Common Stock that Mr.  Gore has the right to acquire by exercise of stock options.
(9) Includes 1,900,000 shares of Common Stock that Mr.  Johnson has the right to acquire by exercise of stock options and excludes 450,000 unvested restricted stock units.
(10) Includes 2,000 shares of Common Stock that Dr.  Levinson holds indirectly and 100,000 shares of Common Stock that Dr.  Levinson has the right to acquire by exercise of stock options.
(11) Excludes 450,000 unvested restricted stock units.
(12) Excludes 400,000 unvested restricted stock units.
Table of Contents The following tables show the gross unrealized losses and fair value for investments in an unrealized loss position as of September 25, 2010 and September 26, 2009, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):
## Table 1 ##
The Company considers the declines in market value of its marketable securities investment portfolio to be temporary in nature.
The unrealized losses on the Company’s marketable securities were caused primarily by changes in market interest rates or widening credit spreads.
The Company typically invests in highly-rated securities, and its policy generally limits the amount of credit exposure to any one issuer.
The Company’s investment policy requires investments to be investment grade, primarily rated single-A or better, with the objective of minimizing the potential risk of principal loss.
Fair values were determined for each individual security in the investment portfolio.
When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s amortized cost basis.
During the years ended September 25, 2010 and September 26, 2009, the Company did not recognize any significant impairment charges.
As of September 25, 2010, the Company does not consider any of its investments to be other-than-temporarily impaired.
Derivative Financial Instruments The Company uses derivatives to partially offset its business exposure to foreign currency exchange risk.
The Company may enter into foreign currency forward and option contracts to offset some of the foreign exchange risk of expected future cash flows on certain forecasted revenue and cost of sales, of net investments in certain foreign subsidiaries, and on certain existing assets and liabilities.
To help protect gross margins from fluctuations in foreign currency exchange rates, certain of the Company’s subsidiaries whose functional currency is the U. S.  dollar, hedge a portion of forecasted foreign currency revenue.
The Company’s subsidiaries whose functional currency is not the U. S.  dollar and who sell in local currencies, may hedge a portion of forecasted inventory purchases not denominated in the subsidiaries’ functional currencies.
The Company typically hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases for three 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 the changes in the carrying amounts of these investments due to fluctuations in foreign currency exchange rates.
The Company may also enter into foreign currency forward and option contracts to partially offset the foreign currency exchange gains and losses generated by the re-measurement of certain assets and liabilities denominated in non-functional currencies.
However, the Company may choose not to hedge certain foreign currency exchange exposures for a variety of reasons, including but not limited to immateriality, accounting considerations and the prohibitive economic cost of hedging particular exposures.
There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign currency exchange rates.
Table of Contents The following tables show the pre-tax effect of the Company’s derivative instruments designated as cash flow and net investment hedges in the Consolidated Statements of Operations for the years ended September 25, 2010 and September 26, 2009 (in millions):
## Table 2 ##
(a) Includes gains/(losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $158 million and ($43) million were recognized within net sales and cost of sales, respectively, within the Statement of Operations for the year ended September 25, 2010.
There were no amounts reclassified from AOCI into net income for the effective portion of net investment hedges for the year ended September 25, 2010.
(b) Includes gains/(losses) reclassified from AOCI into net income for the effective portion of cash flow hedges, of which $302 million and $68 million were recognized within net sales and cost of sales, respectively, within the Statement of Operations for the year ended September 26, 2009.
There were no amounts reclassified from AOCI into net income for the effective portion of net investment hedges for the year ended September 26, 2009.
(c) Refer to Note 7, “Shareholders’ Equity and Stock-Based Compensation” of this Form 10-K, which summarizes the activity in accumulated other comprehensive income related to derivatives.
Accounts Receivable Trade Receivables The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and value-added resellers and directly to certain education, consumer and enterprise customers.
The Company generally does not require collateral from its customers; however, the Company will require collateral in certain instances to limit credit risk.
In addition, when possible, the Company attempts to limit credit risk on trade receivables with credit insurance for certain customers in Latin America, Europe, Asia, and Australia, or by requiring third-party financing, loans or leases to support credit exposure.
These credit-financing arrangements are directly between the third-party financing company and the end customer.
As such, the Company generally does not assume any recourse or credit risk sharing related to any of these arrangements.
However, considerable trade receivables not covered by collateral, third-party financing arrangements, or credit insurance are outstanding with the Company’s third-party cellular network carriers, wholesalers, retailers and value-added resellers.
Trade receivables from two of the Company’s customers accounted for 15% and 12% of trade receivables as of September 25, 2010 and one of the Company’s customers accounted for 16% of trade receivables as of September 26, 2009.
The Company’s cellular network carriers accounted for 64% and 51% of trade receivables as of September 25, 2010 and as of September 26, 2009, respectively.
The additions and write-offs to the Company’s allowance for doubtful accounts during 2010, 2009 and 2008 were not significant.
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 57% and 24%, respectively, of non-trade receivables as of September 25, 2010 and two of the Company’s vendors accounted for 40% and 36%, respectively, of non-trade receivables as of September 26, 2009.
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.
Table of Contents Share-based Compensation The following table shows a summary of the share-based compensation expense included in the Consolidated Statements of Operations for 2014, 2013 and 2012 (in millions):
## Table 3 ##
The income tax benefit related to share-based compensation expense was $1.0 billion, $816 million and $567 million for 2014, 2013 and 2012, respectively.
As of September 27, 2014, the total unrecognized compensation cost related to outstanding stock options, RSUs and restricted stock was $6.3 billion, which the Company expects to recognize over a weighted-average period of 2.9 years.
Note 10 – Commitments and Contingencies Accrued Warranty and Indemnification The Company offers a basic limited parts and labor warranty on its hardware products.
The basic warranty period for hardware products is typically one year from the date of purchase by the end-user.
The Company also offers a 90-day basic warranty for its service parts used to repair the Company’s hardware products.
The Company provides currently for the estimated cost that may be incurred under its basic limited product warranties at the time related revenue is recognized.
Factors considered in determining appropriate accruals for product warranty obligations include the size of the installed base of products subject to warranty protection, historical and projected warranty claim rates, historical and projected cost-per-claim and knowledge of specific product failures that are outside of the Company’s typical experience.
The Company assesses the adequacy of its pre-existing warranty liabilities and adjusts the amounts as necessary based on actual experience and changes in future estimates.
The following table shows changes in the Company’s accrued warranties and related costs for 2014, 2013 and 2012 (in millions):

Tables referenced above, in order (Table 0 first):
<table><tr><td>Name of Beneficial Owner</td><td>Shares of Common Stock Beneficially Owned-1</td><td>Percent of Common Stock Outstanding</td></tr><tr><td>Fidelity Investments</td><td>57,162,311</td><td>-2</td><td>6.65%</td></tr><tr><td>AllianceBernstein LP</td><td>48,637,731</td><td>-3</td><td>5.66%</td></tr><tr><td>Steven P. Jobs</td><td>5,546,451</td><td>-4</td><td>*</td></tr><tr><td>William V. Campbell</td><td>221,004</td><td>-5</td><td>*</td></tr><tr><td>Timothy D. Cook</td><td>12,597</td><td>-6</td><td>*</td></tr><tr><td>Millard S. Drexler</td><td>220,000</td><td>-7</td><td>*</td></tr><tr><td>Albert A. Gore, Jr.</td><td>60,000</td><td>-8</td><td>*</td></tr><tr><td>Ronald B. Johnson</td><td>2,049,890</td><td>-9</td><td>*</td></tr><tr><td>Arthur D. Levinson</td><td>362,400</td><td>-10</td><td>*</td></tr><tr><td>Peter Oppenheimer</td><td>149,768</td><td>-11</td><td>*</td></tr><tr><td>Philip W. Schiller</td><td>256</td><td>-12</td><td>*</td></tr><tr><td>Eric E. Schmidt</td><td>12,284</td><td>-13</td><td>*</td></tr><tr><td>Jerome B. York</td><td>80,000</td><td>-14</td><td>*</td></tr><tr><td>All current executive officers and directors as a group (15 persons)</td><td>9,378,423</td><td>-15</td><td>1.09%</td></tr></table>
<table><tr><td></td><td colspan="6">September 25, 2010</td></tr><tr><td></td><td colspan="2">Less than 12 Months</td><td colspan="2">12 Months or Greater</td><td colspan="2">Total</td></tr><tr><td></td><td> Fair Value</td><td>Unrealized Losses</td><td> Fair Value</td><td>Unrealized Losses</td><td> Fair Value</td><td>Unrealized Loss</td></tr><tr><td>Certificates of deposit and time deposits</td><td>$802</td><td>$-1</td><td>$54</td><td>$0</td><td>$856</td><td>$-1</td></tr><tr><td>Corporate securities</td><td>3,579</td><td>-7</td><td>275</td><td>-2</td><td>3,854</td><td>-9</td></tr><tr><td>Municipal securities</td><td>298</td><td>-1</td><td>0</td><td>0</td><td>298</td><td>-1</td></tr><tr><td>Total</td><td>$4,679</td><td>$-9</td><td>$329</td><td>$-2</td><td>$5,008</td><td>$-11</td></tr><tr><td></td><td colspan="6">September 26, 2009</td></tr><tr><td></td><td colspan="2">Less than 12 Months</td><td colspan="2">12 Months or Greater</td><td colspan="2">Total</td></tr><tr><td></td><td> Fair Value</td><td>Unrealized Losses</td><td> Fair Value</td><td>Unrealized Losses</td><td> Fair Value</td><td>Unrealized Loss</td></tr><tr><td>Corporate securities</td><td>$1,667</td><td>$-3</td><td>$719</td><td>$-13</td><td>$2,386</td><td>$-16</td></tr></table>
<table><tr><td></td><td colspan="2">Gains/(Losses) Recognized in OCI - Effective Portion (c)</td><td colspan="2"> Gains/(Losses)  Reclassified from AOCI into Income - Effective Portion (c)</td><td colspan="3">Gains/(Losses) Recognized –Ineffective Portion and Amount Excluded from Effectiveness Testing</td></tr><tr><td></td><td>September 25, 2010</td><td>September 26, 2009</td><td> September 25, 2010 (a)</td><td> September 26, 2009 (b)</td><td> Location</td><td>September 25, 2010</td><td>September 26, 2009</td></tr><tr><td>Cash flow hedges:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Foreign exchange contracts</td><td>$-267</td><td>$338</td><td>$115</td><td>$370</td><td>Other income and expense</td><td>$-175</td><td>$-97</td></tr><tr><td>Net investment hedges:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Foreign exchange contracts</td><td>-41</td><td>-44</td><td>0</td><td>0</td><td>Other income and expense</td><td>1</td><td>3</td></tr><tr><td>Total</td><td>$-308</td><td>$294</td><td>$115</td><td>$370</td><td></td><td>$-174</td><td>$-94</td></tr></table>
<table><tr><td></td><td> 2014</td><td> 2013</td><td> 2012</td></tr><tr><td>Cost of sales</td><td>$450</td><td>$350</td><td>$265</td></tr><tr><td>Research and development</td><td>1,216</td><td>917</td><td>668</td></tr><tr><td>Selling, general and administrative</td><td>1,197</td><td>986</td><td>807</td></tr><tr><td>Total share-based compensation expense</td><td>$2,863</td><td>$2,253</td><td>$1,740</td></tr></table>

Question: What's the average of Certificates of deposit and time deposits and Corporate securities for Fair Value of Total in 2010?
Answer: 2355
Reasoning program: add(856,3854), divide(#0,const_2)