Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Apple Inc. (NASDAQ:AAPL)

Adjustments to Financial Statements

Advanced level


Adjustments to Total Assets

Apple Inc., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
As Reported
Total assets 338,516  365,725  375,319  321,686  290,479  231,839 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 8,535  7,973  8,069  6,540  5,572  4,709 
Less: Noncurrent deferred tax assets, net2 8,045  5,834  —  —  —  — 
After Adjustment
Adjusted total assets 339,006  367,864  383,388  328,226  296,051  236,548 

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Noncurrent deferred tax assets, net. See details »


Adjustments to Current Liabilities

Apple Inc., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
As Reported
Current liabilities 105,718  116,866  100,814  79,006  80,610  63,448 
Adjustments
Less: Deferred revenue, current 5,522  7,543  7,548  8,080  8,940  8,491 
After Adjustment
Adjusted current liabilities 100,196  109,323  93,266  70,926  71,670  54,957 

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).


Adjustments to Total Liabilities

Apple Inc., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
As Reported
Total liabilities 248,028  258,578  241,272  193,437  171,124  120,292 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 8,535  7,973  8,069  6,540  5,572  4,709 
Less: Noncurrent deferred tax liabilities2 —  —  27,588  21,906  16,260  15,120 
Less: Deferred revenue 8,100  10,340  10,384  11,010  12,564  11,522 
Less: Accrued warranty and related costs 3,570  3,692  3,834  3,702  4,780  4,159 
After Adjustment
Adjusted total liabilities 244,893  252,519  207,535  163,359  143,092  94,200 

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Noncurrent deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Apple Inc., adjusted shareholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
As Reported
Shareholders’ equity 90,488  107,147  134,047  128,249  119,355  111,547 
Adjustments
Less: Net deferred tax assets (liabilities)1 8,045  5,834  (27,588) (21,906) (16,260) (15,120)
Add: Deferred revenue 8,100  10,340  10,384  11,010  12,564  11,522 
Add: Accrued warranty and related costs 3,570  3,692  3,834  3,702  4,780  4,159 
After Adjustment
Adjusted shareholders’ equity 94,113  115,345  175,853  164,867  152,959  142,348 

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Apple Inc., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
As Reported
Commercial paper 5,980  11,964  11,977  8,105  8,499  6,308 
Current portion of term debt 10,260  8,784  6,496  3,500  2,500  — 
Non-current portion of term debt 91,807  93,735  97,207  75,427  53,463  28,987 
Total reported debt 108,047  114,483  115,680  87,032  64,462  35,295 
Shareholders’ equity 90,488  107,147  134,047  128,249  119,355  111,547 
Total reported capital 198,535  221,630  249,727  215,281  183,817  146,842 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 8,535  7,973  8,069  6,540  5,572  4,709 
Adjusted total debt 116,582  122,456  123,749  93,572  70,034  40,004 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)2 8,045  5,834  (27,588) (21,906) (16,260) (15,120)
Add: Deferred revenue 8,100  10,340  10,384  11,010  12,564  11,522 
Add: Accrued warranty and related costs 3,570  3,692  3,834  3,702  4,780  4,159 
Adjusted shareholders’ equity 94,113  115,345  175,853  164,867  152,959  142,348 
After Adjustment
Adjusted total capital 210,695  237,801  299,602  258,439  222,993  182,352 

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

Apple Inc., adjusted net sales

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
As Reported
Net sales 260,174  265,595  229,234  215,639  233,715  182,795 
Adjustment
Add: Increase (decrease) in deferred revenue (700) (44) (626) (1,554) 1,042  1,462 
After Adjustment
Adjusted net sales 259,474  265,551  228,608  214,085  234,757  184,257 

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).


Adjustments to Reported Income

Apple Inc., adjusted net income

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
As Reported
Net income 55,256  59,531  48,351  45,687  53,394  39,510 
Adjustments
Add: Deferred income tax expense (benefit)1 (340) (32,590) 5,966  4,938  1,382  2,347 
Add: Increase (decrease) in deferred revenue (700) (44) (626) (1,554) 1,042  1,462 
Add: Increase (decrease) in accrued warranty and related costs (122) (142) 132  (1,078) 621  1,192 
Add: Other comprehensive income (loss) 2,781  (3,026) (784) 979  (1,427) 1,553 
After Adjustment
Adjusted net income 56,875  23,729  53,039  48,972  55,012  46,064 

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).

1 Deferred income tax expense (benefit). See details »