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Statement of Financial Position, Assets Quarterly Data

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Apple Inc., Consolidated Statement of Financial Position, Assets (quarterly data)

USD $ in millions

 
Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014 Sep 27, 2014 Jun 28, 2014 Mar 29, 2014 Dec 28, 2013 Sep 28, 2013 Jun 29, 2013 Mar 30, 2013 Dec 29, 2012 Sep 29, 2012 Jun 30, 2012 Mar 31, 2012 Dec 31, 2011
Cash and cash equivalents
Short-term marketable securities
Accounts receivable, less allowances
Inventories
Vendor non-trade receivables
Other current assets
Current assets
Long-term marketable securities
Property, plant and equipment, net
Goodwill
Acquired intangible assets, net
Other non-current assets
Non-current assets
Total assets
Source: Apple Inc., Quarterly and Annual Reports
Item Description The company
Cash and cash equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Apple Inc.'s cash and cash equivalents increased from Q4 2017 to Q1 2018 and from Q1 2018 to Q2 2018.
Short-term marketable securities Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for less than one year or the normal operating cycle, whichever is longer. Apple Inc.'s short-term marketable securities declined from Q4 2017 to Q1 2018 and from Q1 2018 to Q2 2018.
Accounts receivable, less allowances Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Apple Inc.'s accounts receivable, less allowances increased from Q4 2017 to Q1 2018 but then declined significantly from Q1 2018 to Q2 2018.
Inventories Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Apple Inc.'s inventories declined from Q4 2017 to Q1 2018 but then increased from Q1 2018 to Q2 2018 exceeding Q4 2017 level.
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Apple Inc.'s current assets increased from Q4 2017 to Q1 2018 but then slightly declined from Q1 2018 to Q2 2018 not reaching Q4 2017 level.
Property, plant and equipment, net Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Apple Inc.'s property, plant and equipment, net declined from Q4 2017 to Q1 2018 but then increased from Q1 2018 to Q2 2018 exceeding Q4 2017 level.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Apple Inc.'s non-current assets increased from Q4 2017 to Q1 2018 but then declined significantly from Q1 2018 to Q2 2018.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Apple Inc.'s total assets increased from Q4 2017 to Q1 2018 but then declined significantly from Q1 2018 to Q2 2018.

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