Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Apple Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Sep 27, 2025	Jun 28, 2025	Mar 29, 2025	Dec 28, 2024	Sep 28, 2024	Jun 29, 2024	Mar 30, 2024	Dec 30, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Sep 24, 2022	Jun 25, 2022	Mar 26, 2022	Dec 25, 2021	Sep 25, 2021	Jun 26, 2021	Mar 27, 2021	Dec 26, 2020	Sep 26, 2020	Jun 27, 2020	Mar 28, 2020	Dec 28, 2019
Accounts payable	69,860)	50,374)	54,126)	61,910)	68,960)	47,574)	45,753)	58,146)	62,611)	46,699)	42,945)	57,918)	64,115)	48,343)	52,682)	74,362)	54,763)	40,409)	40,127)	63,846)	42,296)	35,325)	32,421)	45,111)
Other current liabilities	66,387)	62,499)	61,849)	61,151)	78,304)	60,889)	57,298)	54,611)	58,829)	58,897)	56,425)	59,893)	60,845)	48,811)	50,248)	49,167)	47,493)	43,625)	45,660)	48,504)	42,684)	35,005)	37,324)	36,263)
Deferred revenue	9,055)	8,979)	8,976)	8,461)	8,249)	8,053)	8,012)	8,264)	8,061)	8,158)	8,131)	7,992)	7,912)	7,728)	7,920)	7,876)	7,612)	7,681)	7,595)	7,395)	6,643)	6,313)	5,928)	5,573)
Commercial paper	7,979)	9,923)	5,982)	1,995)	9,967)	2,994)	1,997)	1,998)	5,985)	3,993)	1,996)	1,743)	9,982)	10,982)	6,999)	5,000)	6,000)	8,000)	5,000)	5,000)	4,996)	11,166)	10,029)	4,990)
Current portion of term debt	12,350)	9,345)	13,638)	10,848)	10,912)	12,114)	10,762)	10,954)	9,822)	7,216)	10,578)	9,740)	11,128)	14,009)	9,659)	11,169)	9,613)	8,039)	8,003)	7,762)	8,773)	7,509)	10,392)	10,224)
Current liabilities	165,631)	141,120)	144,571)	144,365)	176,392)	131,624)	123,822)	133,973)	145,308)	124,963)	120,075)	137,286)	153,982)	129,873)	127,508)	147,574)	125,481)	107,754)	106,385)	132,507)	105,392)	95,318)	96,094)	102,161)
Non-current portion of term debt	78,328)	82,430)	78,566)	83,956)	85,750)	86,196)	91,831)	95,088)	95,281)	98,071)	97,041)	99,627)	98,959)	94,700)	103,323)	106,629)	109,106)	105,752)	108,642)	99,281)	98,667)	94,048)	89,086)	93,078)
Other non-current liabilities	41,549)	42,115)	41,300)	49,006)	45,888)	47,084)	47,564)	50,353)	49,848)	51,730)	52,886)	53,107)	49,142)	53,629)	52,432)	55,056)	53,325)	52,054)	52,953)	56,042)	54,490)	55,696)	56,795)	55,848)
Non-current liabilities	119,877)	124,545)	119,866)	132,962)	131,638)	133,280)	139,395)	145,441)	145,129)	149,801)	149,927)	152,734)	148,101)	148,329)	155,755)	161,685)	162,431)	157,806)	161,595)	155,323)	153,157)	149,744)	145,881)	148,926)
Total liabilities	285,508)	265,665)	264,437)	277,327)	308,030)	264,904)	263,217)	279,414)	290,437)	274,764)	270,002)	290,020)	302,083)	278,202)	283,263)	309,259)	287,912)	265,560)	267,980)	287,830)	258,549)	245,062)	241,975)	251,087)
Common stock and additional paid-in capital, $0.00001 par value	93,568)	89,806)	88,711)	84,768)	83,276)	79,850)	78,815)	75,236)	73,812)	70,667)	69,568)	66,399)	64,849)	62,115)	61,181)	58,424)	57,365)	54,989)	54,203)	51,744)	50,779)	48,696)	48,032)	45,972)
Retained earnings (accumulated deficit)	(14,264)	(17,607)	(15,552)	(11,221)	(19,154)	(4,726)	4,339)	8,242)	(214)	1,408)	4,336)	3,240)	(3,068)	5,289)	12,712)	14,435)	5,562)	9,233)	15,261)	14,301)	14,966)	24,136)	33,182)	43,977)
Accumulated other comprehensive income (loss)	(5,571)	(6,369)	(6,363)	(6,789)	(7,172)	(8,416)	(8,960)	(9,378)	(11,452)	(11,801)	(11,746)	(12,912)	(11,109)	(9,297)	(6,494)	(927)	163)	58)	(286)	179)	(406)	(550)	(2,789)	(418)
Shareholders’ equity	73,733)	65,830)	66,796)	66,758)	56,950)	66,708)	74,194)	74,100)	62,146)	60,274)	62,158)	56,727)	50,672)	58,107)	67,399)	71,932)	63,090)	64,280)	69,178)	66,224)	65,339)	72,282)	78,425)	89,531)
Total liabilities and shareholders’ equity	359,241)	331,495)	331,233)	344,085)	364,980)	331,612)	337,411)	353,514)	352,583)	335,038)	332,160)	346,747)	352,755)	336,309)	350,662)	381,191)	351,002)	329,840)	337,158)	354,054)	323,888)	317,344)	320,400)	340,618)

The quarterly financial data reveals notable trends across liabilities and equity components over multiple periods.

Accounts Payable: Accounts payable displays fluctuation with an overall upward trend, surging significantly at several points, notably reaching peaks near the end of calendar years 2021 and 2024. This trend may reflect increased short-term obligations or changes in supplier payment terms.
Other Current Liabilities: This category rises gradually with periodic increases, especially evident throughout 2024, indicating growing short-term obligations outside accounts payable, possibly accrued expenses or other operational liabilities.
Deferred Revenue: Deferred revenue shows a steady, modest increase across quarters, suggesting consistent growth in advance payments received from customers or deferred income streams.
Commercial Paper: Commercial paper balance demonstrates volatility, with spikes at irregular intervals such as early 2020, mid-2022, and late 2024. These fluctuations suggest varying short-term debt issuance likely aligned with liquidity or funding needs.
Current Portion of Term Debt: The current portion of term debt tends to fluctuate but generally remains at a high level, indicating substantial short-term portions of long-term debt maturing within each quarter.
Total Current Liabilities: Current liabilities trend upward overall, with pronounced peaks towards the end of calendar years 2021 and 2024. This growth signals expanding short-term financial obligations, which may impact working capital management.
Non-Current Portion of Term Debt: This category shows a gradual decline over the periods, particularly noticeable from late 2021 onwards, suggesting debt repayments or refinancing activity reducing long-term debt burden.
Other Non-Current Liabilities: A general decreasing trend is observed in other non-current liabilities, pointing to reduced long-term obligations aside from term debt, potentially reflecting liability amortization or settlement.
Total Non-Current Liabilities: Non-current liabilities peak around late 2020 and early 2021, followed by a steady decline afterward, indicating a strategic reduction in long-term liabilities.
Total Liabilities: Total liabilities mirror individual trends with peaks in late 2020 and 2024, then some periods of decline. The pattern reveals cycles of increasing leverage followed by deleveraging efforts.
Common Stock and Additional Paid-in Capital: Equity from common stock and additional paid-in capital consistently increases quarter over quarter, signifying ongoing capital raising or retained proceeds from equity transactions enhancing shareholders’ equity.
Retained Earnings (Accumulated Deficit): The retained earnings exhibit a downward trajectory until late 2022, including periods of negative balances, indicating cumulative net losses or significant dividend payments. Post-2022, there is partial recovery with fluctuating but generally negative values in 2024, which may point to uneven profitability outcomes in recent quarters.
Accumulated Other Comprehensive Income (Loss): This item mostly shows negative values with further deterioration over time, implying unfavorable changes in components like foreign currency translation, unrealized gains/losses on securities, or pension liabilities impacting comprehensive income negatively.
Shareholders’ Equity: Shareholders' equity declines substantially from 2019 through 2022, reaching a low point in late 2022, before recovering moderately to 2025. The recovery aligns with increased paid-in capital but is partially offset by negative retained earnings and comprehensive income effects, indicating mixed financial performance and equity financing activities.
Total Liabilities and Shareholders’ Equity: The total capital structure expands steadily from 2019 until a peak at the end of 2021, followed by fluctuating but generally stable levels afterward. The growth reflects increased liabilities and equity financing, with some volatility attributable to debt and retained earnings movements.

In summary, the data reveal periods of increasing liabilities, particularly short-term obligations, combined with strategic reductions in long-term debt. Equity financing shows consistent growth through stock issuances or capital contributions, but overall retained earnings and comprehensive income trends suggest challenges in sustained profitability. These patterns are indicative of active management of capital structure with fluctuating operational performance across the observed quarters.

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Apple Inc. (NASDAQ:AAPL)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data