Chunk-level Retrieval Eval
Collection
Contextualized chunk-level (query2chunk) retrieval eval for the Citras benchmark. • 23 items • Updated
chunk_id stringlengths 4 7 | chunk stringlengths 1 773 | source_url stringlengths 1 3 | title stringclasses 1
value | chunk_idx int64 0 29 | chunk_start_char int64 0 9.35k | chunk_end_char int64 10 10k |
|---|---|---|---|---|---|---|
34::0 | Other Income/(Expense), Net
Other income/(expense), net (“OI&E”) for 2022 , 2021 and 2020 was as follows (dollars in millions):
2022 Change 2021 Change 2020
Interest and dividend income $ 2,825 $ 2,843 $ 3,763
Interest expense (2,931) (2,645) (2,873)
Other income/(expense), net (228 | 34 | 0 | 0 | 291 | |
34::1 | ) 60 (87)
Total other income/(expense), net $ (334) (229) % $ 258 (68) % $ 803
The decrease in OI&E during 2022 compared to 2021 was due primarily to higher realized losses on debt securities, unfavorable
fair value adjustments on equity securities and higher interest expense, partially offset by higher foreig... | 34 | 1 | 291 | 628 | |
34::2 | Provision for Income Taxes
Provision for income | 34 | 2 | 629 | 676 | |
73::0 |
Total lease liabilities $ 12,411 $ 11,803
Lease liability maturities as of September 24, 2022 , are as follows (in millions):
Operating
LeasesFinance
Leases Total
2023 $ 1,758 $ 155 $ 1,913
2024 1,742 130 1,872
2025 1,677 81 1,758
| 73 | 0 | 0 | 243 | |
73::1 | 2026 1,382 48 1,430
2027 1,143 34 1,177
Thereafter 5,080 906 5,986
Total undiscounted liabilities 12,782 1,354 14,136
Less: Imputed interest (1,312) (413) (1,725)
Total lease liabilities | 73 | 1 | 243 | 449 | |
73::2 | $ 11,470 $ 941 $ 12,411
The weighted-average | 73 | 2 | 449 | 495 | |
62::0 | Business Risks
To remain competitive and stimulate customer demand, the Company must successfully manage frequent introductions
and transitions of products and services.
Due to the highly volatile and competitive nature of the markets and industries in which the Company competes, the Company
must continually introduc... | 62 | 0 | 0 | 574 | |
62::1 | The success of new product and service introductions depends on a number of factors,
including timely and successful development, market acceptance, the Company’s ability to manage the risks associated with
production ramp-up issues, the availability of application software for the Company’s products, the effective m... | 62 | 1 | 575 | 1,101 | |
66::0 | The gross fai r values of the Company’s derivative assets and liabilities as of September 24, 2022 were as follows (in millions):
2022
Fair Value of
Derivatives Designated
as Accounting HedgesFair Value of
Derivatives Not Designated
as Accounting HedgesTotal
Fair Value
Derivative assets (1):
Foreign exchange contrac... | 66 | 0 | 0 | 415 | |
66::1 | 547 $ 4,752
Interest rate contracts $ 1,367 $ — $ 1,367
(1) Derivative assets are measured using Level 2 fair value inputs and are included in other current assets and other non-
current assets in the Consolidated Balance Sheets. | 66 | 1 | 415 | 646 | |
66::2 | (2) Derivative liabilities are measured using Level 2 fair value inputs and are included in other current liabilities and other | 66 | 2 | 647 | 774 | |
30::0 | 2022.
2014 Employee Stock Plan
The Apple Inc. 2014 Employee Stock Plan (the “2014 Plan”) is a shareholder-approved plan that provided for broad-based equity
grants to employees, including executive officers. The 2014 Plan permitted the granting of substantially the same types of equity
awards with substantially the ... | 30 | 0 | 0 | 412 | |
30::1 | In
the third quarter of 2022, the Company terminated the authority to grant new awards under the 2014 Plan.
Apple Inc. | 2022 Form 10-K | 46 | 30 | 1 | 413 | 555 | |
41::0 | claims that may arise.
Investment in new business strategies and acquisitions could disrupt the Company’s ongoing business, present risks not
originally contemplated and materially adversely affect the Company’s business, reputation, results of operations and
financial condition.
The Company has invested, and in the... | 41 | 0 | 0 | 383 | |
41::1 | Such endeavors may
involve significant risks and uncertainties, including distraction of management from current operations, greater-than-expected
liabilities and expenses, economic, political, legal and regulatory challenges associated with operating in new businesses,
regions or countries, inadequate return on cap... | 41 | 1 | 384 | 1,085 | |
69::0 |
Plans or
ProgramsApproximate
Dollar Value of
Shares That May
Yet Be Purchased
Under the Plans
or Programs (1)
June 26, 2022 to July 30, 2022:
Open market and privately negotiated purchases 41,690 $ 145.91 41,690
July 31, 2022 to August 27, 2022:
Open market and privately negotiated purchases 54,669 $ 168 | 69 | 0 | 0 | 314 | |
69::1 | .29 54,669
August 28, 2022 to September 24, 2022:
Open market and privately negotiated purchases 63,813 $ 155.59 63,813
Total 160,172 $ 60,665
(1) As of September 24, 2022 , the Company was authorized by the Board of Directors to purchase up to $405 billion of the
Company’s common stock | 69 | 1 | 314 | 611 | |
69::2 | under a share repurchase program most recently announced on April 28, 2022 (the | 69 | 2 | 611 | 691 | |
20::0 | Additional Amounts
The terms of the Notes state that all payments of principal and interest in respect of the Notes will be made
free and clear of, and without deduction or withholding for or on account of any present or future taxes, duties,
assessments or other governmental charges of whatsoever nature required to... | 20 | 0 | 0 | 501 | |
20::1 | All of the Notes also contain a covenant substantially similar to the following:
The Company will, subject to the exceptions and limitations set forth below, pay as additional interest on the
Notes such additional amounts (“Additional Amounts”) as are necessary in order that the net payment by the
Company or the payi... | 20 | 1 | 502 | 950 | |
90::0 | Apple Inc.
Form 10-K
For the Fiscal Year Ended September 24, 2022
TABLE OF CONTENTS
Page
Part I
Item 1. Business 1
Item 1A. Risk Factors 5
Item 1B. Unresolved Staff Comments 17
Item 2. Properties 17
Item 3. Legal Proceedings 17
Item 4. Mine Safety Disclosures 17
Part II
Item 5. Market for Registrant’s Common Equity, Re... | 90 | 0 | 0 | 398 | |
90::1 | [Reserved] 19
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 20
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 26
Item 8. Financial Statements and Supplementary Data 28
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial D... | 90 | 1 | 399 | 794 | |
91::0 | ) Hedge accounting fair value adjustments (1,363) 1,036 Less: Current portion of term debt (11,128) (9,613) Total non-current portion of term debt $ 98,959 $ 109,106 To manage interest rate risk on certain of its U.S. dollar–denominated fixed-rate notes, the Company has entered into interest rate swaps to effectively c... | 91 | 0 | 0 | 407 | |
91::1 | Additionally, to manage foreign currency risk on certain of its foreign currency– denominated notes, the Company has entered into foreign currency swaps to effectively convert these notes to U.S. dollar–denominated notes. The effective interest rates for the Notes include the interest on the Notes, amortization of the ... | 91 | 1 | 408 | 953 | |
91::2 | 2022 Form 10-K | 45 The future principal payments for the Company’s Notes as of September 24, 2022, are as follows (in millions): 2023 $ 11,139 2024 9,910 2025 10,645 2026 11,209 2027 9,631 Thereafter 59,290 Total term debt $ 111,824 As of September 2 | 91 | 2 | 955 | 1,207 | |
91::3 | 4, 2022 and September 25, 2021, the fair value of the Company’s Notes, based on Level 2 inputs, was $98.8 billion and $125.3 billion, respectively. | 91 | 3 | 1,207 | 1,354 | |
91::4 | Note 8 – Shareholders’ Equity Share Repurchase Program During 2022, the Company repurchased 569 million shares of its common stock for $90.2 billion under a share repurchase program authorized by the Board of Directors (the “Program”). The Program does not obligate the Company to acquire a minimum amount of shares. Und... | 91 | 4 | 1,355 | 1,878 | |
91::5 | of Common Stock The following table shows the changes in shares of common stock for 2022, 2021 and 2020 (in thousands): 2022 2021 2020 Common stock outstanding, beginning balances 16,426,786 16,976,763 17,772,945 Common stock repurchased (568,589) (656,340) (917,270) Common stock issued, net of shares | 91 | 5 | 1,885 | 2,188 | |
91::6 | withheld for employee taxes 85,228 106,363 121,088 Common stock outstanding, ending balances 15,943,425 16,426,786 16,976,763 Note 9 – Benefit Plans 2022 Employee Stock Plan In the second quarter of 2022, shareholders approved the Apple Inc. | 91 | 6 | 2,188 | 2,430 | |
91::7 | 2022 Employee Stock Plan (the “2022 Plan”), which provides for broad-based equity grants to employees, including executive officers, and permits the granting of restricted stock units (“RSUs”), stock grants, performance-based awards, stock options and stock appreciation rights. RSUs granted under the 2022 Plan generall... | 91 | 7 | 2,431 | 2,898 | |
91::8 | RSUs granted under the 2022 Plan reduce the number of shares available for grant under the plan by a factor of two times the number of RSUs granted. RSUs canceled and shares withheld to satisfy tax withholding obligations increase the number of shares available for grant under the 2022 Plan utilizing a factor of two ti... | 91 | 8 | 2,899 | 3,444 | |
91::9 | DERs are subject to the same vesting and other terms and conditions as the underlying RSUs. A maximum of approximately 1.3 billion shares were authorized for issuance pursuant to 2022 Plan awards at the time the plan was approved on March 4, 2022. 2014 Employee Stock Plan The Apple Inc. 2014 Employee Stock Plan (the “2... | 91 | 9 | 3,445 | 3,894 | |
91::10 | The 2014 Plan permitted the granting of substantially the same types of equity awards with substantially the same terms as the 2022 Plan. The 2014 Plan also permitted the granting of cash bonus awards. In the third quarter of 2022, the Company terminated the authority to grant new awards under the 2014 Plan. Apple Inc.... | 91 | 10 | 3,895 | 4,296 | |
91::11 | -Employee Director Stock Plan (the “Director Plan”) is a shareholder-approved plan that (i) permits the Company to grant awards of RSUs or stock options to the Company’s non-employee directors, (ii) provides for automatic initial grants of RSUs upon a non-employee director joining the Board of Directors and automatic a... | 91 | 11 | 4,300 | 4,954 | |
91::12 | in each case within the limits set forth in the Director Plan and without further shareholder approval. | 91 | 12 | 4,954 | 5,058 | |
91::13 | RSUs granted under the Director Plan reduce the number of shares available for grant under the plan by a factor of two times the number of RSUs granted. The Director Plan expires on November 12, 2027. All RSUs granted under the Director Plan are entitled to DERs, which are subject to the same vesting and other terms an... | 91 | 13 | 5,059 | 5,598 | |
91::14 | Employee Stock Purchase Plan The Employee Stock Purchase Plan (the “Purchase Plan”) is a shareholder-approved plan under which substantially all employees may voluntarily enroll to purchase the Company’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock ... | 91 | 14 | 5,599 | 6,180 | |
91::15 | A maximum of approximately 230 million shares (split-adjusted) were authorized for issuance under the Purchase Plan at the time the plan was last amended and restated on March 10, 2015. 401(k) Plan The Company’s 401(k) Plan is a tax-qualified deferred compensation arrangement under Section 401(k) of the Internal Revenu... | 91 | 15 | 6,181 | 6,682 | |
91::16 | The Company matches 50% to 100% of each employee’s contributions, depending on length of service, up to a maximum of 6% of the employee’s eligible earnings. | 91 | 16 | 6,683 | 6,839 | |
91::17 | Stock Units A summary of the Company’s RSU activity and related information for 2022, 2021 and 2020, is as follows: Number of RSUs (in thousands) Weighted-Average Grant Date Fair Value Per RSU Aggregate Fair Value (in millions) Balance as of September 28, 2019 326,068 $ 42.30 RSUs granted 156,800 $ 59.20 RSUs vested (... | 91 | 17 | 6,850 | 7,186 | |
91::18 | RSUs canceled (14,347) $ 48.07 Balance as of September 26, 2020 310,778 $ 51.58 RSUs granted 89,363 $ 116.33 RSUs vested (145,766) $ 50.71 RSUs canceled (13,948) $ 68.95 Balance as of September 25, 2021 240,427 $ 75.1 | 91 | 18 | 7,186 | 7,404 | |
91::19 | 6 RSUs granted 91,674 $ 150.70 RSUs vested (115,861) $ 72.12 RSUs canceled (14,739) $ 99.77 Balance as of September 24, 2022 201,501 $ 109.48 $ 30,312 The fair value as of the respective vesting dates of RSUs was $18.2 billion, $19.0 billion and $10.8 billion for | 91 | 19 | 7,404 | 7,667 | |
91::20 | 2022, 2021 and 2020, respectively. | 91 | 20 | 7,667 | 7,702 | |
91::21 | The majority of RSUs that vested in 2022, 2021 and 2020 were net | 91 | 21 | 7,703 | 7,767 | |
78::0 | as of September 24, 2022 and September 25, 2021 , the related
consolidated statements of operations, comprehensive income, shareholders’ equity and cash flows for each of the three years
in the period ended September 24, 2022 , and the related notes and our report dated October 27, 2022 expressed an unqualified ... | 78 | 0 | 0 | 337 | |
78::1 | Basis for Opinion
Apple Inc.’s management is responsible for maintaining effective internal control over financial reporting, and for its assessment
of the effectiveness of internal control over financial reporting included in the accompanying Management’s Annual Report on
Internal Control over Financial Reporting. O... | 78 | 1 | 338 | 952 | |
14::0 |
We issued €1,400,000,000 aggregate principal amount of the 2026 Notes on November 10, 2014. The
maturity date of the 2026 Notes is November 10, 2026, and interest at a rate of 1.625% per annum is paid annually
on November 10 of each year, beginning on November 10, 2015, and on the maturity date. | 14 | 0 | 0 | 299 | |
14::1 | As of October 14, 2022 ,
€1,400,000,000 aggregate principal amount of the 2026 Notes was outstanding.
3 | 14 | 1 | 300 | 405 | |
57::0 | Uncertain Tax Positions
As of September 24, 2022 , the total amount of gross unrecognized tax benefits was $16.8 billion , of which $8.0 billion , if
recognized, would impact the Company’s effective tax rate. As of September 25, 2021 , the total amount of gross unrecognized
tax benefits was $15.5 billion , of which ... | 57 | 0 | 0 | 403 | |
57::1 | The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2022 , 2021
and 2020 , is as follows (in millions):
2022 2021 2020
Beginning balances $ 15,477 $ 16,475 $ 15,619
Increases related to tax positions taken during a prior year 2,284 816 454
Decreases ... | 57 | 1 | 404 | 775 | |
57::2 | (1 | 57 | 2 | 775 | 778 | |
84::0 | Indicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its
internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting
firm that prepared or issued i... | 84 | 0 | 0 | 451 | |
84::1 | Yes ☐ No ☒
The aggregate market value of the voting and non-voting stock held by non-affiliates of the Registrant, as of March 25, 2022 , the last business
day of the Registrant’s most recently completed second fiscal quarter, was approximately $2,830,0 | 84 | 1 | 452 | 712 | |
15::0 | ’s operations. Such restrictions can
be announced with little or no advance notice and the Company may not be able to effectively mitigate all adverse impacts from
such measures. If disputes and conflicts further escalate in the future, actions by governments in response could be significantly
more severe and restri... | 15 | 0 | 0 | 586 | |
15::1 | Many of the Company’s operations and facilities, as well as critical business operations of the Company’s suppliers and contract
manufacturers, are in locations that are prone to earthquakes and other natural disasters. In addition, such operations and
facilities are subject to the risk of interruption by fire, power... | 15 | 1 | 587 | 1,204 | |
15::2 | Global climate
change is resulting in certain types of natural disasters occurring more frequently or with more intense effects. Such events can
make it difficult or impossible for the Company to manufacture and deliver products to its customers, create delays and
inefficiencies in the Company’s supply and manufactu... | 15 | 2 | 1,205 | 1,790 | |
15::3 | Because the Company relies on single or limited sources for the
supply and manufacture of many critical components, a business interruption affecting such sources would exacerbate any
negative consequences to the Company.
Apple Inc. | 2022 Form 10-K | 6 | 15 | 3 | 1,791 | 2,047 | |
37::0 | Apple Inc. | 37 | 0 | 0 | 10 | |
37::1 | CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)
September 24,
2022September 25,
2021
ASSETS:
Current assets:
Cash and cash equivalents $ 23,646 $ 34,940
Marketable securities 24,658 27,699
Accounts receivable, net 28,184 26,278
Inventories 4,946 | 37 | 1 | 11 | 331 | |
37::2 | 6,580
Vendor non-trade receivables 32,748 25,228
Other current assets 21,223 14,111
Total current assets 135,405 134,836
Non-current assets:
Marketable securities 120,805 127,877
Property, plant and equipment, net 42,117 39,440
Other non-current assets | 37 | 2 | 331 | 601 | |
37::3 | 54,428 | 37 | 3 | 601 | 608 | |
40::0 | The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of
September 24, 2022 (in millions):
Due after 1 year through 5 years $ 87,031
Due after 5 years through 10 years 16,429
Due after 10 years 17,345
Total fair value $ 120,805
Derivative I... | 40 | 0 | 0 | 447 | |
40::1 | and interest rate risk. | 40 | 1 | 447 | 471 | |
40::2 | However, the Company may choose not to hedge certain exposures for a variety of reasons including accounting considerations
or 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... | 40 | 2 | 473 | 1,065 | |
40::3 | The Company generally
hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases, typically for up to
12 months .
To protect the Company’s foreign currency–denominated term debt or marketable securities from fluctuations in foreign currency
exchange rates, the Compa... | 40 | 3 | 1,066 | 1,549 | |
40::4 | As of September 24, 2022 , the maximum length of time
over which the Company is hedging its exposure to the variability in future cash flows for term debt–related foreign currency
transactions is 20 years .
The Company may also enter into derivative instruments that are not designated as accounting hedges to protect ... | 40 | 4 | 1,550 | 2,135 | |
40::5 | Interest Rate Risk
To protect the Company’s term debt or marketable securities from fluctuations in interest rates, the Company may enter into
interest rate swaps, options or other instruments. The Company designates these instruments as either cash flow or fair value
hedges. | 40 | 5 | 2,136 | 2,414 | |
40::6 | The notional amounts of the Company’s outstanding derivative instruments as of September 24, 2022 and September 25, 2021
were as follows (in millions):
2022 2021
Derivative instruments designated as accounting hedges:
Foreign exchange contracts $ 102,670 $ 76,475
Interest rate contracts $ 20,125 $ 16,875
Derivativ... | 40 | 6 | 2,415 | 2,822 | |
40::7 | $ 126,918
Apple Inc | 40 | 7 | 2,822 | 2,843 | |
97::0 | (2) in the case of the 2013 Indenture, the holders of not less than 25% of the aggregate principal amount of
the outstanding debt securities of such series, and in the case of the 2018 Indenture, the holders of not
less than 33% of the aggregate principal amount of the outstanding debt securities of such series have ... | 97 | 0 | 0 | 555 | |
97::1 | (4) the trustee has failed to institute proceedings 60 days after the receipt of such notice, request and offer
of indemnity; and
(5) no direction inconsistent with such written request has been given for 60 days by the holders of a
majority in aggregate principal amount of the outstanding debt securities of such ser... | 97 | 1 | 555 | 879 | |
97::2 | The holders of a majority in aggregate principal amount of outstanding debt securities | 97 | 2 | 880 | 966 | |
77::0 | 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 in part on the availability of third-party
software applications and services. There can be no assurance third-party developers will con... | 77 | 0 | 0 | 585 | |
77::1 | The Company believes the availability of third-party software applications and services for its products depends in part on the
developers’ perception and analysis of the relative benefits of developing, maintaining and upgrading such software and services
for the Company’s products compared to competitors’ platforms... | 77 | 1 | 586 | 1,043 | |
71::0 | example,
the gross margins on the Company’s products and services vary significantly and can change over time. | 71 | 0 | 0 | 112 | |
71::1 | Company’s gross
margins are subject to volatility and downward pressure due to a variety of factors, including: continued industry-wide global
product pricing pressures and product pricing actions that the Company may take in response to such pressures; increased
competition; the Company’s ability to effectively st... | 71 | 1 | 116 | 835 | |
71::2 | geographic, currency or channel mix, including to the extent that
regulatory changes require the Company to modify its product and service offerings; fluctuations in foreign exchange rates;
inflation and other macroeconomic pressures; and the introduction of new products or services, including new products or
servi... | 71 | 2 | 835 | 1,187 | |
71::3 | These and other factors could have a materially adverse impact on the Company’s results of
operations and financial condition.
The Company has historically experienced higher net sales in its first quarter compared to other quarters in its fiscal year due in
part to seasonal holiday demand. Additionally, new product ... | 71 | 3 | 1,188 | 1,790 | |
71::4 | The Company could also be subject to
unexpected developments, such as lower-than-anticipated demand for the Company’s products or services, issues with new
product or service introductions, information technology system failures or network disruptions, or failure of one of the
Company’s logistics, components supply,... | 71 | 4 | 1,791 | 2,172 | |
18::0 | of the fourth quarter of 2021.
Mac
Mac net sales increased during 2022 compared to 2021 due primarily to higher net sales of laptops.
iPad
iPad net sales decreased during 2022 compared to 2021 due primarily to lower net sales of iPad Pro.
Wearables, Home and Accessories
Wearables, Home and Accessories net sales in... | 18 | 0 | 0 | 421 | |
18::1 | Services
Services net sales increased during 2022 compared to 2021 due primarily to higher net sales from advertising, cloud services
and the App Store.
Apple Inc. | 2022 Form 10-K | 21 | 18 | 1 | 422 | 611 | |
45::0 | 000% 2025 Notes, the 0.875% 2025 Notes, the 1.375% 2029 Notes and the 2031
Notes at our option, at any time in whole or from time to time in part, prior to the applicable Par Call Date at a
redemption price equal to the greater of:
•100% of the principal amount of the Notes to be redeemed; or
•the sum of the presen... | 45 | 0 | 0 | 430 | |
45::1 | d on the applicable Par Call Date (not including any portion of such
payments of interest accrued as of the date of redemption), discounted to the date of redemption on an
annual basis (ACTUAL/ACTUAL (ICMA)) at the applicable Comparable Government Bond Rate (as
defined below), plus 10 basis points in the case of the... | 45 | 1 | 430 | 880 | |
45::2 | of the 2029 Notes. | 45 | 2 | 880 | 899 | |
45::3 | “Par Call Date” means (i) with respect to the 0.000% 2025 Notes, August 15, 2025 (three months prior to the
maturity date of the 0.000% 2025 Notes), (ii) with respect to the 0.875% 2025 Notes, February 24, 2025 (three
months prior to the maturity date of the 0.875% 2025 Notes), (iii) with respect to the | 45 | 3 | 901 | 1,207 | |
45::4 | 1.375% 2029 Notes, February
24, 2029 (three months prior to the maturity date of 1.375% 2029 Notes) and (iv) with respect to the 2031 Notes,
August 15, 2031 (three months prior to the maturity of the 2031 Notes). | 45 | 4 | 1,207 | 1,422 | |
45::5 | 7 | 45 | 5 | 1,423 | 1,424 | |
33::0 | Uncertain Tax Positions
As of September 24, 2022 , the total amount of gross unrecognized tax benefits was $16.8 billion , of which $8.0 billion , if
recognized, would impact the Company’s effective tax rate. As of September 25, 2021 , the total amount of gross unrecognized
tax benefits was $15.5 billion , of which ... | 33 | 0 | 0 | 403 | |
33::1 | The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2022 , 2021
and 2020 , is as follows (in millions):
2022 2021 2020
Beginning balances $ 15,477 $ 16,475 $ 15,619
Increases related to tax positions taken during a prior year 2,284 816 454
Decreases ... | 33 | 1 | 404 | 775 | |
33::2 | (1 | 33 | 2 | 775 | 778 | |
1::0 | . Operating income for each segment excludes other income and expense and certain expenses managed outside the reportable segments. Costs excluded from segment operating income include various corporate expenses such as research and development (“R&D”), corporate marketing expenses, certain share-based compensation exp... | 1 | 0 | 0 | 536 | |
1::1 | 2 – Revenue Net sales disaggregated by significant products and services for 2022, 2021 and 2020 were as follows (in millions): 2022 2021 2020 iPhone $ 205,489 $ 191,973 $ 137,781 Mac 40,177 35,190 28,622 iPad 29,292 31,862 23,724 Wearables, | 1 | 1 | 541 | 783 | |
1::2 | Home and Accessories 41,241 38,367 30,620 Services 78,129 68,425 53,768 Total net sales $ 394,328 $ 365,817 $ 274,515 (1) Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales price of the respective product. | 1 | 2 | 783 | 1,071 | |
1::3 | (2) Wearables, Home and Accessories net sales include sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod mini and accessories. (3) Services net sales include sales from the Company’s advertising, AppleCare, cloud, digital content, payment and other services. Services net sales also include amortization of... | 1 | 3 | 1,072 | 1,471 | |
1::4 | (4) Includes $7.5 billion of revenue recognized in 2022 that was included in deferred revenue as of September 25, 2021, $6.7 billion of revenue recognized in 2021 that was included in deferred revenue as of September 26, 2020, and $5.0 billion of revenue recognized in 2020 that was included in deferred revenue as of Se... | 1 | 4 | 1,472 | 1,809 | |
1::5 | The Company’s proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 11, “Segment Information and Geographic Data” for 2022, 2021 and 2020, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales in 2022 and 2021... | 1 | 5 | 1,810 | 2,269 | |
1::6 | As of September 24, 2022, the Company expects 64% of total deferred revenue to be realized in less than a year, 27% within one-to-two years, 7% within two-to-three years and 2% in greater than three years. (1) (1) (1) (1)(2) (3) (4) Apple Inc. | 1 | 6 | 2,270 | 2,513 | |
1::7 | 2022 Form 10-K | 37 Note 3 – Financial Instruments Cash, Cash Equivalents and Marketable Securities The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of September 24, 2022 and September 25, 2021 (in millions): 2022 Adjusted Cost Unrealized Ga... | 1 | 7 | 2,515 | 2,988 | |
1::8 | $ 18,546 $ — $ — Level 1 : Money market funds 2,929 — — 2,929 2,929 — — Mutual funds 274 — (47) 227 — 227 — Subtotal 3,203 — (47) 3,156 2,929 227 — Level 2 : U.S. | 1 | 8 | 2,988 | 3,151 | |
1::9 | Treasury securities 25,134 — (1,725) 23,409 338 5,091 17,980 U.S. agency securities 5,823 — (655) 5,168 — 240 4,928 Non-U.S. | 1 | 9 | 3,152 | 3,276 |
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