Name: Apple Inc. (NASDAQ:AAPL) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Apple Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Sep 26, 2026	Sep 27, 2025	Sep 28, 2024	Sep 30, 2023	Sep 24, 2022	Sep 25, 2021
Accounts payable	82,252)	69,860)	68,960)	62,611)	64,115)	54,763)
Income taxes payable	5,287)	13,016)	26,601)	8,819)	6,552)	—)
Accrued distribution and marketing	6,994)	8,919)	7,679)	—)	—)	—)
Current portion of finance leases	700)	538)	144)	165)	129)	79)
Other current liabilities	53,143)	43,914)	43,880)	49,845)	54,164)	47,414)
Other current liabilities	66,124)	66,387)	78,304)	58,829)	60,845)	47,493)
Deferred revenue	9,636)	9,055)	8,249)	8,061)	7,912)	7,612)
Commercial paper	1,997)	7,979)	9,967)	5,985)	9,982)	6,000)
Current portion of term debt	9,906)	12,350)	10,912)	9,822)	11,128)	9,613)
Current liabilities	169,915)	165,631)	176,392)	145,308)	153,982)	125,481)
Non-current portion of term debt	68,208)	78,328)	85,750)	95,281)	98,959)	109,106)
Non-current portion of finance leases	756)	692)	752)	859)	812)	769)
Other non-current liabilities	53,576)	40,857)	45,136)	48,989)	48,330)	52,556)
Other non-current liabilities	54,332)	41,549)	45,888)	49,848)	49,142)	53,325)
Non-current liabilities	122,540)	119,877)	131,638)	145,129)	148,101)	162,431)
Total liabilities	292,455)	285,508)	308,030)	290,437)	302,083)	287,912)
Common stock and additional paid-in capital, $0.00001 par value	104,815)	93,568)	83,276)	73,812)	64,849)	57,365)
Retained earnings (accumulated deficit)	13,700)	(14,264)	(19,154)	(214)	(3,068)	5,562)
Accumulated other comprehensive income (loss)	(6,422)	(5,571)	(7,172)	(11,452)	(11,109)	163)
Shareholders’ equity	112,093)	73,733)	56,950)	62,146)	50,672)	63,090)
Total liabilities and shareholders’ equity	404,548)	359,241)	364,980)	352,583)	352,755)	351,002)

Based on: 10-K (reporting date: 2026-09-26), 10-K (reporting date: 2025-09-27), 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25).

The overall financial position reflects a strategic shift in capital structure, characterized by a gradual reduction in long-term debt and a significant expansion of shareholders' equity. Total liabilities and shareholders' equity grew from 351,002 million in 2021 to 404,548 million by 2026, indicating a broadening of the total balance sheet footprint.

Current Liabilities Trends: Current liabilities exhibit an upward trajectory, increasing from 125,481 million in 2021 to 169,915 million in 2026. This growth is primarily driven by a steady rise in accounts payable, which climbed from 54,763 million to 82,252 million over the period. Income taxes payable demonstrated significant volatility, peaking at 26,601 million in 2024 before declining sharply to 5,287 million by 2026. Commercial paper usage appears to be fluctuating, ending the period at a low of 1,997 million.
Non-Current Liabilities and Debt Management: A consistent downward trend is observed in non-current liabilities, which decreased from 162,431 million in 2021 to 122,540 million in 2026. The most notable component of this decline is the non-current portion of term debt, which fell from 109,106 million to 68,208 million. This suggests a systematic reduction of long-term borrowing obligations. Other non-current liabilities remained relatively stable, though they experienced a spike to 54,332 million in the final year of the analysis.
Shareholders' Equity Dynamics: Shareholders' equity saw a substantial increase, rising from 63,090 million in 2021 to 112,093 million in 2026. This growth was heavily supported by an increase in common stock and additional paid-in capital, which rose from 57,365 million to 104,815 million. Conversely, retained earnings experienced extreme volatility, transitioning from a positive balance in 2021 to a peak accumulated deficit of 19,154 million in 2024, before recovering to a positive balance of 13,700 million by 2026. Accumulated other comprehensive income remained negative throughout most of the period, though the deficit narrowed slightly from its 2023 peak.
Total Liability and Equity Composition: Total liabilities remained relatively stable across the six-year span, fluctuating between 285,508 million and 308,030 million. The increase in the total balance sheet size is therefore primarily attributable to the growth in shareholders' equity rather than an increase in total debt. The shift from non-current to current liabilities suggests a movement toward short-term financing and operational obligations over long-term debt instruments.

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