Apple Inc | Cash Flow | Thomson Reuters Eikon 15-Oct-2013 23:23

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Cash FlowAnnual Standardised in Thousands of U.S. Dollars

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Earnings Quality Score 89 94 99 95 97 97 97 91 67 67Period End Date 27-Sep-2003 25-Sep-2004 24-Sep-2005 30-Sep-2006 29-Sep-2007 27-Sep-2008 26-Sep-2009 25-Sep-2010 24-Sep-2011 29-Sep-2012Reporting Unit Millions Millions Millions Millions Millions Millions Millions Millions Millions MillionsReporting Currency U.S. Dollar U.S. Dollar U.S. Dollar U.S. Dollar U.S. Dollar U.S. Dollar U.S. Dollar U.S. Dollar U.S. Dollar U.S. Dollar Cash Flow-Operating Activities ($ Thousands)Net Income/Starting Line 69,000 266,000 1,328,000 1,989,000 3,495,000 6,119,000 8,235,000 14,013,000 25,922,000 41,733,000

Depreciation/Depletion 113,000 150,000 179,000 225,000 327,000 496,000 734,000 1,027,000 1,814,000 3,277,000

Depreciation 113,000 150,000 179,000 225,000 327,000 496,000 734,000 1,027,000 1,814,000 3,277,000

Amortization -- -- -- -- -- -- -- -- -- --

Deferred Taxes (11,000) 19,000 50,000 53,000 73,000 398,000 1,040,000 1,440,000 2,868,000 4,405,000

Non-Cash Items (1,000) 131,000 486,000 174,000 254,000 538,000 736,000 903,000 1,168,000 1,740,000

Non-Cash Items (1,000) 131,000 486,000 174,000 254,000 538,000 736,000 903,000 1,168,000 1,740,000

Accounting Change (1,000) -- -- -- -- -- -- -- -- --

Unusual Items (23,000) 2,000 9,000 11,000 12,000 22,000 26,000 24,000 -- --

Purchased R&D 0 -- -- -- -- -- -- -- -- --

Other Non-Cash Items 23,000 129,000 477,000 163,000 242,000 516,000 710,000 879,000 1,168,000 1,740,000

Changes in Working Capital 119,000 368,000 492,000 (221,000) 1,321,000 2,045,000 (586,000) 1,212,000 5,757,000 (299,000)

Changes in Working Capital 119,000 368,000 492,000 (221,000) 1,321,000 2,045,000 (586,000) 1,212,000 5,757,000 (299,000)

Accounts Receivable (201,000) (8,000) (121,000) (357,000) (385,000) (785,000) (939,000) (4,860,000) (1,791,000) (6,965,000)

Inventories (11,000) (45,000) (64,000) (105,000) (76,000) (163,000) 54,000 (596,000) 275,000 (15,000)

Prepaid Expenses (34,000)

Other Assets (30,000) (201,000) (185,000) (2,666,000) (994,000) 15,000 (153,000) (1,634,000) (1,391,000) (3,162,000)

Accounts Payable 243,000 297,000 328,000 1,611,000 1,494,000 596,000 92,000 6,307,000 2,515,000 4,467,000

Taxes Payable

AAPL.O - Apple Inc

Other Liabilities 152,000 325,000 534,000 1,296,000 1,282,000 2,382,000 360,000 1,995,000 6,149,000 5,376,000

Cash from Operating Activities 289,000 934,000 2,535,000 2,220,000 5,470,000 9,596,000 10,159,000 18,595,000 37,529,000 50,856,000

Cash from Operating Activities 289,000 934,000 2,535,000 2,220,000 5,470,000 9,596,000 10,159,000 18,595,000 37,529,000 50,856,000D CFO 199,000 645,000 1,601,000 (315,000) 3,250,000 4,126,000 563,000 8,436,000 18,934,000 13,327,000D% CFO 221.11% 223.18% 171.41% -12.43% 146.40% 75.43% 5.87% 83.04% 101.82% 35.51%CFO/CF 25.26% -218.74% 485.63% 76.53% 184.80% 380.34% -153.64% 310.02% -2595.37% 5462.51%

Capital Expenditures (164,000) (176,000) (260,000) (657,000) (986,000) (1,199,000) (1,213,000) (2,121,000) (7,452,000) (9,402,000)

Capital Expenditures (164,000) (176,000) (260,000) (657,000) (986,000) (1,199,000) (1,213,000) (2,121,000) (7,452,000) (9,402,000)

Purchase of Fixed Assets (164,000) (176,000) (260,000) (657,000) (735,000) (1,091,000) (1,144,000) (2,005,000) (4,260,000) (8,295,000)

Purchase/Acquisition of Intangibles -- -- 0 0 (251,000) (108,000) (69,000) (116,000) (3,192,000) (1,107,000)

Other Investing Cash Flow Items, Total 992,000 (1,312,000) (2,296,000) 1,014,000 (2,263,000) (6,990,000) (16,221,000) (11,733,000) (32,967,000) (38,825,000)

Other Investing Cash Flow Items, Total 992,000 (1,312,000) (2,296,000) 1,014,000 (2,263,000) (6,990,000) (16,221,000) (11,733,000) (32,967,000) (38,825,000)

Acquisition of Business 0 -- -- 0 0 (220,000) 0 (638,000) (244,000) (350,000)

Sale of Fixed Assets -- -- --

Sale/Maturity of Investment 3,562,000 1,947,000 9,195,000 8,312,000 9,424,000 16,243,000 30,678,000 46,718,000 69,853,000 112,805,000

Investment, Net 45,000 -- -- -- -- -- -- -- -- --

Purchase of Investments (2,648,000) (3,270,000) (11,470,000) (7,280,000) (11,736,000) (23,003,000) (46,825,000) (57,811,000) (102,317,000) (151,232,000)

Other Investing Cash Flow 33,000 11,000 (21,000) (18,000) 49,000 (10,000) (74,000) (2,000) (259,000) (48,000)

Cash from Investing Activities 828,000 (1,488,000) (2,556,000) 357,000 (3,249,000) (8,189,000) (17,434,000) (13,854,000) (40,419,000) (48,227,000)

Cash from Investing Activities 828,000 (1,488,000) (2,556,000) 357,000 (3,249,000) (8,189,000) (17,434,000) (13,854,000) (40,419,000) (48,227,000)D CFI 1,080,000 (2,316,000) (1,068,000) 2,913,000 (3,606,000) (4,940,000) (9,245,000) 3,580,000 (26,565,000) (7,808,000)D% CFI -428.57% -279.71% 71.77% -113.97% -1010.08% 152.05% 112.90% -20.53% 191.75% 19.32%CFI/CF 72.38% 348.48% -489.66% 12.31% -109.76% -324.57% 263.67% -230.98% 2795.23% -5180.13%

Cash Flow-Financing Activities ($ Thousands)Financing Cash Flow Items (26,000) 0 0 6,000 374,000 633,000 188,000 345,000 613,000 125,000

Other Financing Cash Flow (26,000) 0 0 6,000 374,000 633,000 188,000 345,000 613,000 125,000

Total Cash Dividends Paid 0 (2,488,000)

Cash Dividends Paid - Common 0 (2,488,000)

Issuance (Retirement) of Stock, Net 53,000 427,000 543,000 318,000 365,000 483,000 475,000 912,000 831,000 665,000

Sale/Issuance of Common 53,000 427,000 543,000 318,000 365,000 483,000 475,000 912,000 831,000 665,000

Common Stock, Net 53,000 427,000 543,000 318,000 365,000 483,000 475,000 912,000 831,000 665,000

Sale/Issuance of PreferredPreferred Stock, NetIssuance (Retirement) of Debt, Net 0 (300,000) 0 0

Short Term Debt, Net -- -- -- --

Long Term Debt Reduction 0 (300,000) 0 0

Long Term Debt, Net 0 (300,000) 0 0

Cash from Financing Activities 27,000 127,000 543,000 324,000 739,000 1,116,000 663,000 1,257,000 1,444,000 (1,698,000)

Cash from Financing Activities 27,000 127,000 543,000 324,000 739,000 1,116,000 663,000 1,257,000 1,444,000 (1,698,000)D CFF (78,000) 100,000 416,000 (219,000) 415,000 377,000 (453,000) 594,000 187,000 (3,142,000)D% CFF -74.29% 370.37% 327.56% -40.33% 128.09% 51.01% -40.59% 89.59% 14.88% -217.59%CFF/CF 2.36% -29.74% 104.02% 11.17% 24.97% 44.23% -10.03% 20.96% -99.86% -182.38%Foreign Exchange Effects 0

Net Change in Cash 1,144,000 (427,000) 522,000 2,901,000 2,960,000 2,523,000 (6,612,000) 5,998,000 (1,446,000) 931,000

Net Change in Cash 1,144,000 (427,000) 522,000 2,901,000 2,960,000 2,523,000 (6,612,000) 5,998,000 (1,446,000) 931,000 D CF 1,201,000 (1,571,000) 949,000 2,379,000 59,000 (437,000) (9,135,000) 12,610,000 (7,444,000) 2,377,000D% CF -2107.02% -137.33% -222.25% 455.75% 2.03% -14.76% -362.07% -190.71% -124.11% -164.38%Net Cash - Beginning Balance 2,252,000 3,396,000 2,969,000 3,491,000 6,392,000 9,352,000 11,875,000 5,263,000 11,261,000 9,815,000

Net Cash - Beginning Balance -- cash and equivalents (BS)2,252,000 3,396,000 2,969,000 3,491,000 6,392,000 9,352,000 11,875,000 5,263,000 11,261,000 9,815,000

Net Cash - Ending Balance 3,396,000 2,969,000 3,491,000 6,392,000 9,352,000 11,875,000 5,263,000 11,261,000 9,815,000 10,746,000

Net Cash - Ending Balance 3,396,000 2,969,000 3,491,000 6,392,000 9,352,000 11,875,000 5,263,000 11,261,000 9,815,000 10,746,000

Cash Interest Paid 20,000 10,000 0 0 -- -- -- -- -- --

Cash Taxes Paid 45,000 (7,000) 17,000 194,000 863,000 1,267,000 2,997,000 2,697,000 3,338,000 7,682,000

Free Cash Flow 125,000 758,000 2,275,000 1,563,000 4,484,000 8,397,000 8,946,000 16,474,000 30,077,000 41,454,000 net profit 69,000 266,000 1,328,000 1,989,000 3,495,000 6,119,000 8,235,000 14,013,000 25,922,000 41,733,000amortisation 113,000 150,000 179,000 225,000 327,000 496,000 734,000 1,027,000 1,814,000 3,277,000interestCFg 182,000 416,000 1,507,000 2,214,000 3,822,000 6,615,000 8,969,000 15,040,000 27,736,000 45,010,000D ImobD NWC 119,000 368,000 492,000 (221,000) 1,321,000 2,045,000 (586,000) 1,212,000 5,757,000 (299,000)Ec growth 119,000 368,000 492,000 (221,000) 1,321,000 2,045,000 (586,000) 1,212,000 5,757,000 (299,000)FCF = CFD 63,000 48,000 1,015,000 2,435,000 2,501,000 4,570,000 9,555,000 13,828,000 21,979,000 45,309,000