APPLE INC., 10-K filed on 10/28/2022
Annual Report
v3.22.2.2
Cover Page - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Sep. 24, 2022
Oct. 14, 2022
Mar. 25, 2022
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --09-24    
Document Period End Date Sep. 24, 2022    
Document Transition Report false    
Entity File Number 001-36743    
Entity Registrant Name Apple Inc.    
Entity Incorporation, State or Country Code CA    
Entity Tax Identification Number 94-2404110    
Entity Address, Address Line One One Apple Park Way    
Entity Address, City or Town Cupertino    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 95014    
City Area Code 408    
Local Phone Number 996-1010    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 2,830,067
Entity Common Stock, Shares Outstanding (in shares)   15,908,118  
Amendment Flag false    
Document Fiscal Year Focus 2022    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000320193    
Common Stock, $0.00001 par value per share      
Entity Information [Line Items]      
Title of 12(b) Security Common Stock, $0.00001 par value per share    
Trading Symbol AAPL    
Security Exchange Name NASDAQ    
1.000% Notes due 2022      
Entity Information [Line Items]      
Title of 12(b) Security 1.000% Notes due 2022    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.375% Notes due 2024      
Entity Information [Line Items]      
Title of 12(b) Security 1.375% Notes due 2024    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
0.000% Notes due 2025      
Entity Information [Line Items]      
Title of 12(b) Security 0.000% Notes due 2025    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
0.875% Notes due 2025      
Entity Information [Line Items]      
Title of 12(b) Security 0.875% Notes due 2025    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.625% Notes due 2026      
Entity Information [Line Items]      
Title of 12(b) Security 1.625% Notes due 2026    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
2.000% Notes due 2027      
Entity Information [Line Items]      
Title of 12(b) Security 2.000% Notes due 2027    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.375% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 1.375% Notes due 2029    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
3.050% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 3.050% Notes due 2029    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
0.500% Notes due 2031      
Entity Information [Line Items]      
Title of 12(b) Security 0.500% Notes due 2031    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
3.600% Notes due 2042      
Entity Information [Line Items]      
Title of 12(b) Security 3.600% Notes due 2042    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
v3.22.2.2
Auditor Information
 12 Months Ended
Sep. 24, 2022
Auditor Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location San Jose, California
Auditor Firm ID 42
v3.22.2.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Net sales $ 394,328 $ 365,817 $ 274,515
Cost of sales 223,546 212,981 169,559
Gross margin 170,782 152,836 104,956
Operating expenses:      
Research and development 26,251 21,914 18,752
Selling, general and administrative 25,094 21,973 19,916
Total operating expenses 51,345 43,887 38,668
Operating income 119,437 108,949 66,288
Other income/(expense), net (334) 258 803
Income before provision for income taxes 119,103 109,207 67,091
Provision for income taxes 19,300 14,527 9,680
Net income $ 99,803 $ 94,680 $ 57,411
Earnings per share:      
Basic (in dollars per share) $ 6.15 $ 5.67 $ 3.31
Diluted (in dollars per share) $ 6.11 $ 5.61 $ 3.28
Shares used in computing earnings per share:      
Basic (in shares) 16,215,963 16,701,272 17,352,119
Diluted (in shares) 16,325,819 16,864,919 17,528,214
Products      
Net sales $ 316,199 $ 297,392 $ 220,747
Cost of sales 201,471 192,266 151,286
Services      
Net sales 78,129 68,425 53,768
Cost of sales $ 22,075 $ 20,715 $ 18,273
v3.22.2.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Statement of Comprehensive Income [Abstract]      
Net income $ 99,803 $ 94,680 $ 57,411
Other comprehensive income/(loss):      
Change in foreign currency translation, net of tax (1,511) 501 88
Change in unrealized gains/losses on derivative instruments, net of tax:      
Change in fair value of derivative instruments 3,212 32 79
Adjustment for net (gains)/losses realized and included in net income (1,074) 1,003 (1,264)
Total change in unrealized gains/losses on derivative instruments 2,138 1,035 (1,185)
Change in unrealized gains/losses on marketable debt securities, net of tax:      
Change in fair value of marketable debt securities (12,104) (694) 1,202
Adjustment for net (gains)/losses realized and included in net income 205 (273) (63)
Total change in unrealized gains/losses on marketable debt securities (11,899) (967) 1,139
Total other comprehensive income/(loss) (11,272) 569 42
Total comprehensive income $ 88,531 $ 95,249 $ 57,453
v3.22.2.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Current assets:    
Cash and cash equivalents $ 23,646 $ 34,940
Marketable securities 24,658 27,699
Accounts receivable, net 28,184 26,278
Inventories 4,946 6,580
Vendor non-trade receivables 32,748 25,228
Other current assets 21,223 14,111
Total current assets 135,405 134,836
Non-current assets:    
Marketable securities 120,805 127,877
Property, plant and equipment, net 42,117 39,440
Other non-current assets 54,428 48,849
Total non-current assets 217,350 216,166
Total assets 352,755 351,002
Current liabilities:    
Accounts payable 64,115 54,763
Other current liabilities 60,845 47,493
Deferred revenue 7,912 7,612
Commercial paper 9,982 6,000
Term debt 11,128 9,613
Total current liabilities 153,982 125,481
Non-current liabilities:    
Term debt 98,959 109,106
Other non-current liabilities 49,142 53,325
Total non-current liabilities 148,101 162,431
Total liabilities 302,083 287,912
Commitments and contingencies
Shareholders’ equity:    
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,943,425 and 16,426,786 shares issued and outstanding, respectively 64,849 57,365
Retained earnings/(Accumulated deficit) (3,068) 5,562
Accumulated other comprehensive income/(loss) (11,109) 163
Total shareholders’ equity 50,672 63,090
Total liabilities and shareholders’ equity $ 352,755 $ 351,002
v3.22.2.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Sep. 24, 2022
Sep. 25, 2021
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 50,400,000,000 50,400,000,000
Common stock, shares issued (in shares) 15,943,425,000 16,426,786,000
Common stock, shares outstanding (in shares) 15,943,425,000 16,426,786,000
v3.22.2.2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common stock and additional paid-in capital
Retained earnings/(Accumulated deficit)
Retained earnings/(Accumulated deficit)
Cumulative effect of change in accounting principle
Accumulated other comprehensive income/(loss)
Accumulated other comprehensive income/(loss)
Cumulative effect of change in accounting principle
Beginning balances at Sep. 28, 2019 $ 90,488 $ 45,174 $ 45,898 $ (136) $ (584) $ 136
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Common stock issued   880        
Common stock withheld related to net share settlement of equity awards   (2,250) (1,604)      
Share-based compensation   6,975        
Net income 57,411   57,411      
Dividends and dividend equivalents declared     (14,087)      
Common stock repurchased     (72,516)      
Other comprehensive income/(loss) 42       42  
Ending balances at Sep. 26, 2020 $ 65,339 50,779 14,966 0 (406) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.795          
Common stock issued   1,105        
Common stock withheld related to net share settlement of equity awards   (2,627) (4,151)      
Share-based compensation   8,108        
Net income $ 94,680   94,680      
Dividends and dividend equivalents declared     (14,431)      
Common stock repurchased     (85,502)      
Other comprehensive income/(loss) 569       569  
Ending balances at Sep. 25, 2021 $ 63,090 57,365 5,562 $ 0 163 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.85          
Common stock issued   1,175        
Common stock withheld related to net share settlement of equity awards   (2,971) (3,454)      
Share-based compensation   9,280        
Net income $ 99,803   99,803      
Dividends and dividend equivalents declared     (14,793)      
Common stock repurchased (90,200)   (90,186)      
Other comprehensive income/(loss) (11,272)       (11,272)  
Ending balances at Sep. 24, 2022 $ 50,672 $ 64,849 $ (3,068)   $ (11,109)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.90          
v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Statement of Cash Flows [Abstract]      
Cash, cash equivalents and restricted cash, beginning balances $ 35,929 $ 39,789 $ 50,224
Operating activities:      
Net income 99,803 94,680 57,411
Adjustments to reconcile net income to cash generated by operating activities:      
Depreciation and amortization 11,104 11,284 11,056
Share-based compensation expense 9,038 7,906 6,829
Deferred income tax expense/(benefit) 895 (4,774) (215)
Other 111 (147) (97)
Changes in operating assets and liabilities:      
Accounts receivable, net (1,823) (10,125) 6,917
Inventories 1,484 (2,642) (127)
Vendor non-trade receivables (7,520) (3,903) 1,553
Other current and non-current assets (6,499) (8,042) (9,588)
Accounts payable 9,448 12,326 (4,062)
Deferred revenue 478 1,676 2,081
Other current and non-current liabilities 5,632 5,799 8,916
Cash generated by operating activities 122,151 104,038 80,674
Investing activities:      
Purchases of marketable securities (76,923) (109,558) (114,938)
Proceeds from maturities of marketable securities 29,917 59,023 69,918
Proceeds from sales of marketable securities 37,446 47,460 50,473
Payments for acquisition of property, plant and equipment (10,708) (11,085) (7,309)
Payments made in connection with business acquisitions, net (306) (33) (1,524)
Other (1,780) (352) (909)
Cash used in investing activities (22,354) (14,545) (4,289)
Financing activities:      
Payments for taxes related to net share settlement of equity awards (6,223) (6,556) (3,634)
Payments for dividends and dividend equivalents (14,841) (14,467) (14,081)
Repurchases of common stock (89,402) (85,971) (72,358)
Proceeds from issuance of term debt, net 5,465 20,393 16,091
Repayments of term debt (9,543) (8,750) (12,629)
Proceeds from/(Repayments of) commercial paper, net 3,955 1,022 (963)
Other (160) 976 754
Cash used in financing activities (110,749) (93,353) (86,820)
Decrease in cash, cash equivalents and restricted cash (10,952) (3,860) (10,435)
Cash, cash equivalents and restricted cash, ending balances 24,977 35,929 39,789
Supplemental cash flow disclosure:      
Cash paid for income taxes, net 19,573 25,385 9,501
Cash paid for interest $ 2,865 $ 2,687 $ 3,002
v3.22.2.2
Summary of Significant Accounting Policies
 12 Months Ended
Sep. 24, 2022
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation and Preparation
The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively “Apple” or the “Company”). Intercompany accounts and transactions have been eliminated. The preparation of these consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior period amounts in the consolidated financial statements and accompanying notes have been reclassified to conform to the current period’s presentation.
The Company’s fiscal year is the 52- or 53-week period that ends on the last Saturday of September. An additional week is included in the first fiscal quarter every five or six years to realign the Company’s fiscal quarters with calendar quarters, which will occur in the first quarter of the Company’s fiscal year ending September 30, 2023. The Company’s fiscal years 2022, 2021 and 2020 spanned 52 weeks each. Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company’s fiscal years ended in September and the associated quarters, months and periods of those fiscal years.
Revenue Recognition
Net sales consist of revenue from the sale of iPhone, Mac, iPad, Services and other products. The Company recognizes revenue at the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products or services are transferred to its customers. For most of the Company’s Products net sales, control transfers when products are shipped. For the Company’s Services net sales, control transfers over time as services are delivered. Payment for Products and Services net sales is collected within a short period following transfer of control or commencement of delivery of services, as applicable.
The Company records reductions to Products net sales related to future product returns, price protection and other customer incentive programs based on the Company’s expectations and historical experience.
For arrangements with multiple performance obligations, which represent promises within an arrangement that are distinct, the Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices (“SSPs”). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company’s best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company’s process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the unique facts and circumstances related to each performance obligation including, where applicable, prices charged by the Company for similar offerings, market trends in the pricing for similar offerings, product-specific business objectives and the estimated cost to provide the performance obligation.
The Company has identified up to three performance obligations regularly included in arrangements involving the sale of iPhone, Mac, iPad and certain other products. The first performance obligation, which represents the substantial portion of the allocated sales price, is the hardware and bundled software delivered at the time of sale. The second performance obligation is the right to receive certain product-related bundled services, which include iCloud®, Siri® and Maps. The third performance obligation is the right to receive, on a when-and-if-available basis, future unspecified software upgrades relating to the software bundled with each device. The Company allocates revenue and any related discounts to these performance obligations based on their relative SSPs. Because the Company lacks observable prices for the undelivered performance obligations, the allocation of revenue is based on the Company’s estimated SSPs. Revenue allocated to the delivered hardware and bundled software is recognized when control has transferred to the customer, which generally occurs when the product is shipped. Revenue allocated to the product-related bundled services and unspecified software upgrade rights is deferred and recognized on a straight-line basis over the estimated period they are expected to be provided. Cost of sales related to delivered hardware and bundled software, including estimated warranty costs, are recognized at the time of sale. Costs incurred to provide product-related bundled services and unspecified software upgrade rights are recognized as cost of sales as incurred.
For certain long-term service arrangements, the Company has performance obligations for services it has not yet delivered. For these arrangements, the Company does not have a right to bill for the undelivered services. The Company has determined that any unbilled consideration relates entirely to the value of the undelivered services. Accordingly, the Company has not recognized revenue, and does not disclose amounts, related to these undelivered services.
For the sale of third-party products where the Company obtains control of the product before transferring it to the customer, the Company recognizes revenue based on the gross amount billed to customers. The Company considers multiple factors when determining whether it obtains control of third-party products, including evaluating if it can establish the price of the product, retains inventory risk for tangible products or has the responsibility for ensuring acceptability of the product. For third-party applications sold through the App Store and certain digital content sold through the Company’s other digital content stores, the Company does not obtain control of the product before transferring it to the customer. Therefore, the Company accounts for such sales on a net basis by recognizing in Services net sales only the commission it retains.
The Company records revenue net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded within other current liabilities until remitted to the relevant government authority.
Share-Based Compensation
The Company generally measures share-based compensation based on the closing price of the Company’s common stock on the date of grant, and recognizes expense on a straight-line basis for its estimate of equity awards that will ultimately vest. Further information regarding share-based compensation can be found in Note 9, “Benefit Plans.”
Earnings Per Share
The following table shows the computation of basic and diluted earnings per share for 2022, 2021 and 2020 (net income in millions and shares in thousands):
202220212020
Numerator:
Net income
$99,803 $94,680 $57,411 
Denominator:
Weighted-average basic shares outstanding
16,215,963 16,701,272 17,352,119 
Effect of dilutive securities
109,856 163,647 176,095 
Weighted-average diluted shares
16,325,819 16,864,919 17,528,214 
Basic earnings per share
$6.15 $5.67 $3.31 
Diluted earnings per share
$6.11 $5.61 $3.28 
The Company applies the treasury stock method to determine the dilutive effect of potentially dilutive securities.
Cash Equivalents and Marketable Securities
All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents.
The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date.
The Company’s investments in marketable equity securities are classified based on the nature of the securities and their availability for use in current operations.
The cost of securities sold is determined using the specific identification method.
Inventories
Inventories are measured using the first-in, first-out method.
Restricted Marketable Securities
The Company considers marketable securities to be restricted when withdrawal or general use is legally restricted. The Company reports restricted marketable securities as current or non-current marketable securities in the Consolidated Balance Sheets based on the classification of the underlying securities.
Property, Plant and Equipment
Depreciation on property, plant and equipment is recognized on a straight-line basis over the estimated useful lives of the assets, which for buildings is the shorter of 40 years or the remaining life of the building; between one and five years for machinery and equipment, including manufacturing equipment; and the shorter of the lease term or useful life for leasehold improvements. Capitalized costs related to internal-use software are amortized on a straight-line basis over the estimated useful lives of the assets, which range from five to seven years. Depreciation and amortization expense on property, plant and equipment was $8.7 billion, $9.5 billion and $9.7 billion during 2022, 2021 and 2020, respectively.
Derivative Instruments and Hedging
All derivative instruments are recorded in the Consolidated Balance Sheets at fair value. The accounting treatment for derivative gains and losses is based on intended use and hedge designation.
Gains and losses arising from amounts that are included in the assessment of cash flow hedge effectiveness are initially deferred in accumulated other comprehensive income/(loss) (“AOCI”) and subsequently reclassified into earnings when the hedged transaction affects earnings, and in the same line item in the Consolidated Statements of Operations. For options designated as cash flow hedges, the Company excludes time value from the assessment of hedge effectiveness and recognizes it on a straight-line basis over the life of the hedge in the Consolidated Statements of Operations line item to which the hedge relates. Changes in the fair value of amounts excluded from the assessment of hedge effectiveness are recognized in other comprehensive income/(loss) (“OCI”).
Gains and losses arising from amounts that are included in the assessment of fair value hedge effectiveness are recognized in the Consolidated Statements of Operations line item to which the hedge relates along with offsetting losses and gains related to the change in value of the hedged item. For foreign exchange forward contracts designated as fair value hedges, the Company excludes the forward carry component from the assessment of hedge effectiveness and recognizes it in other income/(expense), net (“OI&E”) on a straight-line basis over the life of the hedge. Changes in the fair value of amounts excluded from the assessment of hedge effectiveness are recognized in OCI.
Gains and losses arising from changes in the fair values of derivative instruments that are not designated as accounting hedges are recognized in the Consolidated Statements of Operations line items to which the derivative instruments relate.
The Company presents derivative assets and liabilities at their gross fair values in the Consolidated Balance Sheets. The Company classifies cash flows related to derivative instruments as operating activities in the Consolidated Statements of Cash Flows.
Fair Value Measurements
The fair values of the Company’s money market funds and certain marketable equity securities are based on quoted prices in active markets for identical assets. The valuation techniques used to measure the fair value of the Company’s debt instruments and all other financial instruments, which generally have counterparties with high credit ratings, are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data.
Income Taxes
The Company records certain deferred tax assets and liabilities in connection with the minimum tax on certain foreign earnings created by the U.S. Tax Cuts and Jobs Act of 2017 (the “Act”).
Leases
The Company combines and accounts for lease and nonlease components as a single lease component for leases of corporate, data center and retail facilities. The discount rates related to the Company’s lease liabilities are generally based on estimates of the Company’s incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined.
Segment Reporting
The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments.
The Company manages its business primarily on a geographic basis. The Company’s reportable segments consist of the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. Americas includes both North and South America. Europe includes European countries, as well as India, the Middle East and Africa. Greater China includes China mainland, Hong Kong and Taiwan. Rest of Asia Pacific includes Australia and those Asian countries not included in the Company’s other reportable segments. Although the reportable segments provide similar hardware and software products and similar services, each one is managed separately to better align with the location of the Company’s customers and distribution partners and the unique market dynamics of each geographic region. The accounting policies of the various segments are the same as those described elsewhere in this Note 1, “Summary of Significant Accounting Policies.”
The Company evaluates the performance of its reportable segments based on net sales and operating income. Net sales for geographic segments are generally based on the location of customers and sales through the Company’s retail stores located in those geographic locations. Operating income for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Advertising expenses are generally included in the geographic segment in which the expenditures are incurred. Operating income for each segment excludes other income and expense and certain expenses managed outside the reportable segments. Costs excluded from segment operating income include various corporate expenses such as research and development (“R&D”), corporate marketing expenses, certain share-based compensation expenses, income taxes, various nonrecurring charges and other separately managed general and administrative costs. The Company does not include intercompany transfers between segments for management reporting purposes.
v3.22.2.2
Revenue
 12 Months Ended
Sep. 24, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Net sales disaggregated by significant products and services for 2022, 2021 and 2020 were as follows (in millions):
202220212020
iPhone (1)
$205,489 $191,973 $137,781 
Mac (1)
40,177 35,190 28,622 
iPad (1)
29,292 31,862 23,724 
Wearables, Home and Accessories (1)(2)
41,241 38,367 30,620 
Services (3)
78,129 68,425 53,768 
Total net sales (4)
$394,328 $365,817 $274,515 
(1)Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales price of the respective product.
(2)Wearables, Home and Accessories net sales include sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod mini and accessories.
(3)Services net sales include sales from the Company’s advertising, AppleCare, cloud, digital content, payment and other services. Services net sales also include amortization of the deferred value of services bundled in the sales price of certain products.
(4)Includes $7.5 billion of revenue recognized in 2022 that was included in deferred revenue as of September 25, 2021, $6.7 billion of revenue recognized in 2021 that was included in deferred revenue as of September 26, 2020, and $5.0 billion of revenue recognized in 2020 that was included in deferred revenue as of September 28, 2019.
The Company’s proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 11, “Segment Information and Geographic Data” for 2022, 2021 and 2020, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales in 2022 and 2021.
As of September 24, 2022 and September 25, 2021, the Company had total deferred revenue of $12.4 billion and $11.9 billion, respectively. As of September 24, 2022, the Company expects 64% of total deferred revenue to be realized in less than a year, 27% within one-to-two years, 7% within two-to-three years and 2% in greater than three years.
v3.22.2.2
Financial Instruments
 12 Months Ended
Sep. 24, 2022
Investments, All Other Investments [Abstract]  
Financial Instruments Financial Instruments
Cash, Cash Equivalents and Marketable Securities
The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of September 24, 2022 and September 25, 2021 (in millions):
2022
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$18,546 $— $— $18,546 $18,546 $— $— 
Level 1 (1):
Money market funds2,929 — — 2,929 2,929 — — 
Mutual funds274 — (47)227 — 227 — 
Subtotal3,203 — (47)3,156 2,929 227 — 
Level 2 (2):
U.S. Treasury securities25,134 — (1,725)23,409 338 5,091 17,980 
U.S. agency securities5,823 — (655)5,168 — 240 4,928 
Non-U.S. government securities16,948 2 (1,201)15,749 — 8,806 6,943 
Certificates of deposit and time deposits
2,067 — — 2,067 1,805 262 — 
Commercial paper718 — — 718 28 690 — 
Corporate debt securities87,148 9 (7,707)79,450 — 9,023 70,427 
Municipal securities921 — (35)886 — 266 620 
Mortgage- and asset-backed securities
22,553 — (2,593)19,960 — 53 19,907 
Subtotal161,312 11 (13,916)147,407 2,171 24,431 120,805 
Total (3)
$183,061 $11 $(13,963)$169,109 $23,646 $24,658 $120,805 
2021
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$17,305 $— $— $17,305 $17,305 $— $— 
Level 1 (1):
Money market funds9,608 — — 9,608 9,608 — — 
Mutual funds175 11 (1)185 — 185 — 
Subtotal9,783 11 (1)9,793 9,608 185 — 
Level 2 (2):
Equity securities1,527 — (564)963 — 963 — 
U.S. Treasury securities22,878 102 (77)22,903 3,596 6,625 12,682 
U.S. agency securities
8,949 2 (64)8,887 1,775 1,930 5,182 
Non-U.S. government securities
20,201 211 (101)20,311 390 3,091 16,830 
Certificates of deposit and time deposits
1,300 — — 1,300 490 810 — 
Commercial paper
2,639 — — 2,639 1,776 863 — 
Corporate debt securities
83,883 1,242 (267)84,858 — 12,327 72,531 
Municipal securities
967 14 — 981 — 130 851 
Mortgage- and asset-backed securities
20,529 171 (124)20,576 — 775 19,801 
Subtotal162,873 1,742 (1,197)163,418 8,027 27,514 127,877 
Total (3)
$189,961 $1,753 $(1,198)$190,516 $34,940 $27,699 $127,877 
(1)Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.
(2)Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
(3)As of September 24, 2022 and September 25, 2021, total marketable securities included $12.7 billion and $17.9 billion, respectively, that were restricted from general use, related to the State Aid Decision (refer to Note 5, “Income Taxes”) and other agreements.
The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of September 24, 2022 (in millions):
Due after 1 year through 5 years$87,031 
Due after 5 years through 10 years16,429 
Due after 10 years17,345 
Total fair value$120,805 
Derivative Instruments and Hedging
The Company may use derivative instruments to partially offset its business exposure to foreign exchange and interest rate risk. However, the Company may choose not to hedge certain exposures for a variety of reasons including accounting considerations or the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign exchange or interest rates.
Foreign Exchange Risk
To protect gross margins from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, option contracts or other instruments, and may designate these instruments as cash flow hedges. The Company generally hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases, typically for up to 12 months.
To protect the Company’s foreign currency–denominated term debt or marketable securities from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, cross-currency swaps or other instruments. The Company designates these instruments as either cash flow or fair value hedges. As of September 24, 2022, the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for term debt–related foreign currency transactions is 20 years.
The Company may also enter into derivative instruments that are not designated as accounting hedges to protect gross margins from certain fluctuations in foreign currency exchange rates, as well as to offset a portion of the foreign currency exchange gains and losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies.
Interest Rate Risk
To protect the Company’s term debt or marketable securities from fluctuations in interest rates, the Company may enter into interest rate swaps, options or other instruments. The Company designates these instruments as either cash flow or fair value hedges.
The notional amounts of the Company’s outstanding derivative instruments as of September 24, 2022 and September 25, 2021 were as follows (in millions):
20222021
Derivative instruments designated as accounting hedges:
Foreign exchange contracts
$102,670 $76,475 
Interest rate contracts
$20,125 $16,875 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts
$185,381 $126,918 
The gross fair values of the Company’s derivative assets and liabilities as of September 24, 2022 were as follows (in millions):
2022
Fair Value of
Derivatives Designated
as Accounting Hedges		Fair Value of
Derivatives Not Designated
as Accounting Hedges		Total
Fair Value
Derivative assets (1):
Foreign exchange contracts
$4,317 $2,819 $7,136 
Derivative liabilities (2):
Foreign exchange contracts
$2,205 $2,547 $4,752 
Interest rate contracts
$1,367 $— $1,367 
(1)Derivative assets are measured using Level 2 fair value inputs and are included in other current assets and other non-current assets in the Consolidated Balance Sheets.
(2)Derivative liabilities are measured using Level 2 fair value inputs and are included in other current liabilities and other non-current liabilities in the Consolidated Balance Sheets.
The derivative assets above represent the Company’s gross credit exposure if all counterparties failed to perform. To mitigate credit risk, the Company generally enters into collateral security arrangements that provide for collateral to be received or posted when the net fair values of certain derivatives fluctuate from contractually established thresholds. To further limit credit risk, the Company generally enters into master netting arrangements with the respective counterparties to the Company’s derivative contracts, under which the Company is allowed to settle transactions with a single net amount payable by one party to the other. As of September 24, 2022, the potential effects of these rights of set-off associated with the Company’s derivative contracts, including the effects of collateral, would be a reduction to both derivative assets and derivative liabilities of $7.8 billion, resulting in a net derivative asset of $412 million.
The carrying amounts of the Company’s hedged items in fair value hedges as of September 24, 2022 and September 25, 2021 were as follows (in millions):
20222021
Hedged assets/(liabilities):
Current and non-current marketable securities$13,378 $15,954 
Current and non-current term debt$(18,739)$(17,857)
Accounts Receivable
Trade Receivables
The Company has considerable trade receivables outstanding with its third-party cellular network carriers, wholesalers, retailers, resellers, small and mid-sized businesses and education, enterprise and government customers. The Company generally does not require collateral from its customers; however, the Company will require collateral or third-party credit support in certain instances to limit credit risk. In addition, when possible, the Company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing, loans or leases to support credit exposure. These credit-financing arrangements are directly between the third-party financing company and the end customer. As such, the Company generally does not assume any recourse or credit risk sharing related to any of these arrangements.
As of September 24, 2022, the Company had one customer that represented 10% or more of total trade receivables, which accounted for 10%. The Company’s cellular network carriers accounted for 44% and 42% of total trade receivables as of September 24, 2022 and September 25, 2021, respectively.
Vendor Non-Trade Receivables
The Company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture subassemblies or assemble final products for the Company. The Company purchases these components directly from suppliers. As of September 24, 2022, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 54% and 13%. As of September 25, 2021, the Company had three vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 52%, 11% and 11%.
v3.22.2.2
Consolidated Financial Statement Details
 12 Months Ended
Sep. 24, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidated Financial Statement Details Consolidated Financial Statement Details
The following tables show the Company’s consolidated financial statement details as of September 24, 2022 and September 25, 2021 (in millions):
Property, Plant and Equipment, Net
20222021
Land and buildings
$22,126 $20,041 
Machinery, equipment and internal-use software
81,060 78,659 
Leasehold improvements
11,271 11,023 
Gross property, plant and equipment
114,457 109,723 
Accumulated depreciation and amortization
(72,340)(70,283)
Total property, plant and equipment, net
$42,117 $39,440 
Other Non-Current Liabilities
20222021
Long-term taxes payable$16,657 $24,689 
Other non-current liabilities
32,485 28,636 
Total other non-current liabilities
$49,142 $53,325 
Other Income/(Expense), Net
The following table shows the detail of OI&E for 2022, 2021 and 2020 (in millions):
202220212020
Interest and dividend income
$2,825 $2,843 $3,763 
Interest expense
(2,931)(2,645)(2,873)
Other income/(expense), net(228)60 (87)
Total other income/(expense), net
$(334)$258 $803 
v3.22.2.2
Income Taxes
 12 Months Ended
Sep. 24, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Provision for Income Taxes and Effective Tax Rate
The provision for income taxes for 2022, 2021 and 2020, consisted of the following (in millions):
202220212020
Federal:
Current
$7,890 $8,257 $6,306 
Deferred
(2,265)(7,176)(3,619)
Total
5,625 1,081 2,687 
State:
Current
1,519 1,620 455 
Deferred
84 (338)21 
Total
1,603 1,282 476 
Foreign:
Current
8,996 9,424 3,134 
Deferred
3,076 2,740 3,383 
Total
12,072 12,164 6,517 
Provision for income taxes
$19,300 $14,527 $9,680 
The foreign provision for income taxes is based on foreign pretax earnings of $71.3 billion, $68.7 billion and $38.1 billion in 2022, 2021 and 2020, respectively.
A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate (21% in 2022, 2021 and 2020) to income before provision for income taxes for 2022, 2021 and 2020, is as follows (dollars in millions):
202220212020
Computed expected tax
$25,012 $22,933 $14,089 
State taxes, net of federal effect
1,518 1,151 423 
Impacts of the Act542 — (582)
Earnings of foreign subsidiaries(4,366)(4,715)(2,534)
Foreign-derived intangible income deduction(296)(1,372)(169)
Research and development credit, net
(1,153)(1,033)(728)
Excess tax benefits from equity awards
(1,871)(2,137)(930)
Other
(86)(300)111 
Provision for income taxes
$19,300 $14,527 $9,680 
Effective tax rate
16.2 %13.3 %14.4 %
Deferred Tax Assets and Liabilities
As of September 24, 2022 and September 25, 2021, the significant components of the Company’s deferred tax assets and liabilities were (in millions):
20222021
Deferred tax assets:
Amortization and depreciation
$1,496 $5,575 
Accrued liabilities and other reserves
6,515 5,895 
Lease liabilities2,400 2,406 
Deferred revenue5,742 5,399 
Unrealized losses2,913 53 
Tax credit carryforwards6,962 4,262 
Other1,596 1,639 
Total deferred tax assets27,624 25,229 
Less: Valuation allowance(7,530)(4,903)
Total deferred tax assets, net
20,094 20,326 
Deferred tax liabilities:
Minimum tax on foreign earnings
1,983 4,318 
Right-of-use assets2,163 2,167 
Unrealized gains942 203 
Other
469 565 
Total deferred tax liabilities
5,557 7,253 
Net deferred tax assets$14,537 $13,073 
As of September 24, 2022, the Company had $4.4 billion in foreign tax credit carryforwards in Ireland and $2.5 billion in California R&D credit carryforwards, both of which can be carried forward indefinitely. A valuation allowance has been recorded for the credit carryforwards and a portion of other temporary differences.
Uncertain Tax Positions
As of September 24, 2022, the total amount of gross unrecognized tax benefits was $16.8 billion, of which $8.0 billion, if recognized, would impact the Company’s effective tax rate. As of September 25, 2021, the total amount of gross unrecognized tax benefits was $15.5 billion, of which $6.6 billion, if recognized, would have impacted the Company’s effective tax rate.
The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2022, 2021 and 2020, is as follows (in millions):
202220212020
Beginning balances
$15,477 $16,475 $15,619 
Increases related to tax positions taken during a prior year
2,284 816 454 
Decreases related to tax positions taken during a prior year
(1,982)(1,402)(791)
Increases related to tax positions taken during the current year
1,936 1,607 1,347 
Decreases related to settlements with taxing authorities
(28)(1,838)(85)
Decreases related to expiration of the statute of limitations
(929)(181)(69)
Ending balances
$16,758 $15,477 $16,475 
The Company is subject to taxation and files income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions. Tax years after 2017 for the U.S. federal jurisdiction, and after 2014 in certain major foreign jurisdictions, remain subject to examination. Although the timing of resolution and/or closure of examinations is not certain, the Company believes it is reasonably possible that its gross unrecognized tax benefits could decrease in the next 12 months by as much as $4.8 billion.
European Commission State Aid Decision
On August 30, 2016, the European Commission announced its decision that Ireland granted state aid to the Company by providing tax opinions in 1991 and 2007 concerning the tax allocation of profits of the Irish branches of two subsidiaries of the Company (the “State Aid Decision”). The State Aid Decision ordered Ireland to calculate and recover additional taxes from the Company for the period June 2003 through December 2014. Irish legislative changes, effective as of January 2015, eliminated the application of the tax opinions from that date forward. The recovery amount was calculated to be €13.1 billion, plus interest of €1.2 billion. The Company and Ireland appealed the State Aid Decision to the General Court of the Court of Justice of the European Union (the “General Court”). On July 15, 2020, the General Court annulled the State Aid Decision. On September 25, 2020, the European Commission appealed the General Court’s decision to the European Court of Justice. The Company believes that any incremental Irish corporate income taxes potentially due related to the State Aid Decision would be creditable against U.S. taxes, subject to any foreign tax credit limitations in the Act.
On an annual basis, the Company may request approval from the Irish Minister for Finance to reduce the recovery amount for certain taxes paid to other countries. As of September 24, 2022, the adjusted recovery amount was €12.7 billion, excluding interest. The adjusted recovery amount plus interest is funded into escrow, where it will remain restricted from general use pending the conclusion of all legal proceedings. Refer to the Cash, Cash Equivalents and Marketable Securities section of Note 3, “Financial Instruments” for more information.
v3.22.2.2
Leases
 12 Months Ended
Sep. 24, 2022
Leases [Abstract]  
Leases Leases
The Company has lease arrangements for certain equipment and facilities, including corporate, data center, manufacturing and retail space. These leases typically have original terms not exceeding 10 years and generally contain multiyear renewal options, some of which are reasonably certain of exercise.
Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $1.9 billion, $1.7 billion and $1.5 billion for 2022, 2021 and 2020, respectively. Lease costs associated with variable payments on the Company’s leases were $14.9 billion, $12.9 billion and $9.3 billion for 2022, 2021 and 2020, respectively.
The Company made $1.8 billion, $1.4 billion and $1.5 billion of fixed cash payments related to operating leases in 2022, 2021 and 2020, respectively. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $2.8 billion for 2022, $3.3 billion for 2021 and $10.5 billion for 2020, including the impact of adopting the Financial Accounting Standards Board’s Accounting Standards Update No. 2016-02, Leases (Topic 842) in the first quarter of 2020.
The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 24, 2022 and September 25, 2021 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20222021
Right-of-use assets:
Operating leasesOther non-current assets$10,417 $10,087 
Finance leasesProperty, plant and equipment, net952 861 
Total right-of-use assets$11,369 $10,948 
Lease liabilities:
Operating leasesOther current liabilities$1,534 $1,449 
Other non-current liabilities9,936 9,506 
Finance leasesOther current liabilities129 79 
Other non-current liabilities812 769 
Total lease liabilities$12,411 $11,803 
Lease liability maturities as of September 24, 2022, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2023$1,758 $155 $1,913 
20241,742 130 1,872 
20251,677 81 1,758 
20261,382 48 1,430 
20271,143 34 1,177 
Thereafter5,080 906 5,986 
Total undiscounted liabilities12,782 1,354 14,136 
Less: Imputed interest(1,312)(413)(1,725)
Total lease liabilities$11,470 $941 $12,411 
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 24, 2022 and September 25, 2021 was 10.1 years and 10.8 years, respectively. The discount rate related to the Company’s lease liabilities as of September 24, 2022 and September 25, 2021 was 2.3% and 2.0%, respectively.
As of September 24, 2022, the Company had $1.2 billion of future payments under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases will commence between 2023 and 2026, with lease terms ranging from less than 1 year to 21 years.
Leases Leases
The Company has lease arrangements for certain equipment and facilities, including corporate, data center, manufacturing and retail space. These leases typically have original terms not exceeding 10 years and generally contain multiyear renewal options, some of which are reasonably certain of exercise.
Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $1.9 billion, $1.7 billion and $1.5 billion for 2022, 2021 and 2020, respectively. Lease costs associated with variable payments on the Company’s leases were $14.9 billion, $12.9 billion and $9.3 billion for 2022, 2021 and 2020, respectively.
The Company made $1.8 billion, $1.4 billion and $1.5 billion of fixed cash payments related to operating leases in 2022, 2021 and 2020, respectively. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $2.8 billion for 2022, $3.3 billion for 2021 and $10.5 billion for 2020, including the impact of adopting the Financial Accounting Standards Board’s Accounting Standards Update No. 2016-02, Leases (Topic 842) in the first quarter of 2020.
The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 24, 2022 and September 25, 2021 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20222021
Right-of-use assets:
Operating leasesOther non-current assets$10,417 $10,087 
Finance leasesProperty, plant and equipment, net952 861 
Total right-of-use assets$11,369 $10,948 
Lease liabilities:
Operating leasesOther current liabilities$1,534 $1,449 
Other non-current liabilities9,936 9,506 
Finance leasesOther current liabilities129 79 
Other non-current liabilities812 769 
Total lease liabilities$12,411 $11,803 
Lease liability maturities as of September 24, 2022, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2023$1,758 $155 $1,913 
20241,742 130 1,872 
20251,677 81 1,758 
20261,382 48 1,430 
20271,143 34 1,177 
Thereafter5,080 906 5,986 
Total undiscounted liabilities12,782 1,354 14,136 
Less: Imputed interest(1,312)(413)(1,725)
Total lease liabilities$11,470 $941 $12,411 
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 24, 2022 and September 25, 2021 was 10.1 years and 10.8 years, respectively. The discount rate related to the Company’s lease liabilities as of September 24, 2022 and September 25, 2021 was 2.3% and 2.0%, respectively.
As of September 24, 2022, the Company had $1.2 billion of future payments under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases will commence between 2023 and 2026, with lease terms ranging from less than 1 year to 21 years.
v3.22.2.2
Debt
 12 Months Ended
Sep. 24, 2022
Debt Disclosure [Abstract]  
Debt Debt
Commercial Paper and Repurchase Agreements
The Company issues unsecured short-term promissory notes (“Commercial Paper”) pursuant to a commercial paper program. The Company uses net proceeds from the commercial paper program for general corporate purposes, including dividends and share repurchases. As of September 24, 2022 and September 25, 2021, the Company had $10.0 billion and $6.0 billion of Commercial Paper outstanding, respectively, with maturities generally less than nine months. The weighted-average interest rate of the Company’s Commercial Paper was 2.31% and 0.06% as of September 24, 2022 and September 25, 2021, respectively. The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for 2022, 2021 and 2020 (in millions):
202220212020
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net$5,264 $(357)$100 
Maturities greater than 90 days:
Proceeds from commercial paper
5,948 7,946 6,185 
Repayments of commercial paper
(7,257)(6,567)(7,248)
Proceeds from/(Repayments of) commercial paper, net(1,309)1,379 (1,063)
Total proceeds from/(repayments of) commercial paper, net$3,955 $1,022 $(963)
In 2020, the Company entered into agreements to sell certain of its marketable securities with a promise to repurchase the securities at a specified time and amount (“Repos”). Due to the Company’s continuing involvement with the marketable securities, the Company accounted for its Repos as collateralized borrowings. The Company entered into $5.2 billion of Repos during 2020, all of which had been settled as of September 26, 2020.
Term Debt
The Company has outstanding fixed-rate notes with varying maturities (collectively the “Notes”). The Notes are senior unsecured obligations and interest is payable in arrears. The following table provides a summary of the Company’s term debt as of September 24, 2022 and September 25, 2021:
Maturities
(calendar year)
20222021
Amount
(in millions)
Effective
Interest Rate
Amount
(in millions)
Effective
Interest Rate
2013 – 2021 debt issuances:
Floating-rate notes $— $1,750 
0.48% – 0.63%
Fixed-rate 0.000% – 4.650% notes
2022 – 2061
106,324 
0.03% – 4.78%
116,313 
0.03% – 4.78%
Fourth quarter 2022 debt issuance:
Fixed-rate 3.250% – 4.100% notes
2029 – 2062
5,500 
3.27% – 4.12%
— 
Total term debt111,824 118,063 
Unamortized premium/(discount) and issuance costs, net
(374)(380)
Hedge accounting fair value adjustments(1,363)1,036 
Less: Current portion of term debt(11,128)(9,613)
Total non-current portion of term debt$98,959 $109,106 
To manage interest rate risk on certain of its U.S. dollar–denominated fixed-rate notes, the Company has entered into interest rate swaps to effectively convert the fixed interest rates to floating interest rates on a portion of these notes. Additionally, to manage foreign currency risk on certain of its foreign currency–denominated notes, the Company has entered into foreign currency swaps to effectively convert these notes to U.S. dollar–denominated notes.
The effective interest rates for the Notes include the interest on the Notes, amortization of the discount or premium and, if applicable, adjustments related to hedging. The Company recognized $2.8 billion, $2.6 billion and $2.8 billion of interest expense on its term debt for 2022, 2021 and 2020, respectively.
The future principal payments for the Company’s Notes as of September 24, 2022, are as follows (in millions):
2023$11,139 
20249,910 
202510,645 
202611,209 
20279,631 
Thereafter59,290 
Total term debt$111,824 
As of September 24, 2022 and September 25, 2021, the fair value of the Company’s Notes, based on Level 2 inputs, was $98.8 billion and $125.3 billion, respectively.
v3.22.2.2
Shareholders' Equity
 12 Months Ended
Sep. 24, 2022
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
During 2022, the Company repurchased 569 million shares of its common stock for $90.2 billion under a share repurchase program authorized by the Board of Directors (the “Program”). The Program does not obligate the Company to acquire a minimum amount of shares. Under the Program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
Shares of Common Stock
The following table shows the changes in shares of common stock for 2022, 2021 and 2020 (in thousands):
202220212020
Common stock outstanding, beginning balances
16,426,786 16,976,763 17,772,945 
Common stock repurchased
(568,589)(656,340)(917,270)
Common stock issued, net of shares withheld for employee taxes
85,228 106,363 121,088 
Common stock outstanding, ending balances
15,943,425 16,426,786 16,976,763 
v3.22.2.2
Benefit Plans
 12 Months Ended
Sep. 24, 2022
Share-Based Payment Arrangement [Abstract]  
Benefit Plans Benefit Plans
2022 Employee Stock Plan
In the second quarter of 2022, shareholders approved the Apple Inc. 2022 Employee Stock Plan (the “2022 Plan”), which provides for broad-based equity grants to employees, including executive officers, and permits the granting of restricted stock units (“RSUs”), stock grants, performance-based awards, stock options and stock appreciation rights. RSUs granted under the 2022 Plan generally vest over four years, based on continued employment, and are settled upon vesting in shares of the Company’s common stock on a one-for-one basis. RSUs granted under the 2022 Plan reduce the number of shares available for grant under the plan by a factor of two times the number of RSUs granted. RSUs canceled and shares withheld to satisfy tax withholding obligations increase the number of shares available for grant under the 2022 Plan utilizing a factor of two times the number of RSUs canceled or shares withheld. All RSUs granted under the 2022 Plan have dividend equivalent rights (“DERs”), which entitle holders of RSUs to the same dividend value per share as holders of common stock. DERs are subject to the same vesting and other terms and conditions as the underlying RSUs. A maximum of approximately 1.3 billion shares were authorized for issuance pursuant to 2022 Plan awards at the time the plan was approved on March 4, 2022.
2014 Employee Stock Plan
The Apple Inc. 2014 Employee Stock Plan (the “2014 Plan”) is a shareholder-approved plan that provided for broad-based equity grants to employees, including executive officers. The 2014 Plan permitted the granting of substantially the same types of equity awards with substantially the same terms as the 2022 Plan. The 2014 Plan also permitted the granting of cash bonus awards. In the third quarter of 2022, the Company terminated the authority to grant new awards under the 2014 Plan.
Apple Inc. Non-Employee Director Stock Plan
The Apple Inc. Non-Employee Director Stock Plan (the “Director Plan”) is a shareholder-approved plan that (i) permits the Company to grant awards of RSUs or stock options to the Company’s non-employee directors, (ii) provides for automatic initial grants of RSUs upon a non-employee director joining the Board of Directors and automatic annual grants of RSUs at each annual meeting of shareholders, and (iii) permits the Board of Directors to prospectively change the value and relative mixture of stock options and RSUs for the initial and annual award grants and the methodology for determining the number of shares of the Company’s common stock subject to these grants, in each case within the limits set forth in the Director Plan and without further shareholder approval. RSUs granted under the Director Plan reduce the number of shares available for grant under the plan by a factor of two times the number of RSUs granted. The Director Plan expires on November 12, 2027. All RSUs granted under the Director Plan are entitled to DERs, which are subject to the same vesting and other terms and conditions as the underlying RSUs. A maximum of approximately 45 million shares (split-adjusted) were authorized for issuance pursuant to Director Plan awards at the time the plan was last amended on November 9, 2021.
Employee Stock Purchase Plan
The Employee Stock Purchase Plan (the “Purchase Plan”) is a shareholder-approved plan under which substantially all employees may voluntarily enroll to purchase the Company’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods. An employee’s payroll deductions under the Purchase Plan are limited to 10% of the employee’s eligible compensation and employees may not purchase more than $25,000 of stock during any calendar year. A maximum of approximately 230 million shares (split-adjusted) were authorized for issuance under the Purchase Plan at the time the plan was last amended and restated on March 10, 2015.
401(k) Plan
The Company’s 401(k) Plan is a tax-qualified deferred compensation arrangement under Section 401(k) of the Internal Revenue Code. Under the 401(k) Plan, participating U.S. employees may contribute a portion of their eligible earnings, subject to applicable U.S. Internal Revenue Service and plan limits. The Company matches 50% to 100% of each employee’s contributions, depending on length of service, up to a maximum of 6% of the employee’s eligible earnings.
Restricted Stock Units
A summary of the Company’s RSU activity and related information for 2022, 2021 and 2020, is as follows:
Number of
RSUs
(in thousands)
Weighted-Average
Grant Date Fair
Value Per RSU
Aggregate
Fair Value
(in millions)
Balance as of September 28, 2019326,068 $42.30 
RSUs granted
156,800 $59.20 
RSUs vested
(157,743)$40.29 
RSUs canceled
(14,347)$48.07 
Balance as of September 26, 2020310,778 $51.58 
RSUs granted
89,363 $116.33 
RSUs vested
(145,766)$50.71 
RSUs canceled
(13,948)$68.95 
Balance as of September 25, 2021240,427 $75.16 
RSUs granted
91,674 $150.70 
RSUs vested
(115,861)$72.12 
RSUs canceled
(14,739)$99.77 
Balance as of September 24, 2022201,501 $109.48 $30,312 
The fair value as of the respective vesting dates of RSUs was $18.2 billion, $19.0 billion and $10.8 billion for 2022, 2021 and 2020, respectively. The majority of RSUs that vested in 2022, 2021 and 2020 were net share settled such that the Company withheld shares with a value equivalent to the employees’ obligation for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. The total shares withheld were approximately 41 million, 53 million and 56 million for 2022, 2021 and 2020, respectively, and were based on the value of the RSUs on their respective vesting dates as determined by the Company’s closing stock price. Total payments to taxing authorities for employees’ tax obligations were $6.4 billion, $6.8 billion and $3.9 billion in 2022, 2021 and 2020, respectively.
Share-Based Compensation
The following table shows share-based compensation expense and the related income tax benefit included in the Consolidated Statements of Operations for 2022, 2021 and 2020 (in millions):
202220212020
Share-based compensation expense$9,038 $7,906 $6,829 
Income tax benefit related to share-based compensation expense
$(4,002)$(4,056)$(2,476)
As of September 24, 2022, the total unrecognized compensation cost related to outstanding RSUs and stock options was $16.7 billion, which the Company expects to recognize over a weighted-average period of 2.6 years.
v3.22.2.2
Commitments and Contingencies
 12 Months Ended
Sep. 24, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Concentrations in the Available Sources of Supply of Materials and Product
Although most components essential to the Company’s business are generally available from multiple sources, certain components are currently obtained from single or limited sources. The Company also competes for various components with other participants in the markets for smartphones, personal computers, tablets, wearables and accessories. Therefore, many components used by the Company, including those that are available from multiple sources, are at times subject to industry-wide shortage and significant commodity pricing fluctuations.
The Company uses some custom components that are not commonly used by its competitors, and new products introduced by the Company often utilize custom components available from only one source. When a component or product uses new technologies, initial capacity constraints may exist until the suppliers’ yields have matured or their manufacturing capacities have increased. The continued availability of these components at acceptable prices, or at all, may be affected if suppliers decide to concentrate on the production of common components instead of components customized to meet the Company’s requirements.
Substantially all of the Company’s hardware products are manufactured by outsourcing partners that are located primarily in Asia, with some Mac computers manufactured in the U.S. and Ireland.
Unconditional Purchase Obligations
The Company has entered into certain off–balance sheet commitments that require the future purchase of goods or services (“unconditional purchase obligations”). The Company’s unconditional purchase obligations primarily consist of payments for supplier arrangements, internet services and content creation. Future payments under noncancelable unconditional purchase obligations with a remaining term in excess of one year as of September 24, 2022, are as follows (in millions):
2023$13,488 
20244,876 
20251,418 
20266,780 
2027312 
Thereafter412 
Total$27,286 
Contingencies
The Company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and that have not been fully resolved. The outcome of litigation is inherently uncertain. In the opinion of management, there was not at least a reasonable possibility the Company may have incurred a material loss, or a material loss greater than a recorded accrual, concerning loss contingencies for asserted legal and other claims.
v3.22.2.2
Segment Information and Geographic Data
 12 Months Ended
Sep. 24, 2022
Segment Reporting [Abstract]  
Segment Information and Geographic Data Segment Information and Geographic Data
The following table shows information by reportable segment for 2022, 2021 and 2020 (in millions):
202220212020
Americas:
Net sales
$169,658 $153,306 $124,556 
Operating income
$62,683 $53,382 $37,722 
Europe:
Net sales
$95,118 $89,307 $68,640 
Operating income
$35,233 $32,505 $22,170 
Greater China:
Net sales
$74,200 $68,366 $40,308 
Operating income
$31,153 $28,504 $15,261 
Japan:
Net sales
$25,977 $28,482 $21,418 
Operating income
$12,257 $12,798 $9,279 
Rest of Asia Pacific:
Net sales
$29,375 $26,356 $19,593 
Operating income
$11,569 $9,817 $6,808 
A reconciliation of the Company’s segment operating income to the Consolidated Statements of Operations for 2022, 2021 and 2020 is as follows (in millions):
202220212020
Segment operating income
$152,895 $137,006 $91,240 
Research and development expense
(26,251)(21,914)(18,752)
Other corporate expenses, net
(7,207)(6,143)(6,200)
Total operating income
$119,437 $108,949 $66,288 
The U.S. and China were the only countries that accounted for more than 10% of the Company’s net sales in 2022, 2021 and 2020. Net sales for 2022, 2021 and 2020 and long-lived assets as of September 24, 2022 and September 25, 2021 were as follows (in millions):
202220212020
Net sales:
U.S.$147,859 $133,803 $109,197 
China (1)
74,200 68,366 40,308 
Other countries
172,269 163,648 125,010 
Total net sales
$394,328 $365,817 $274,515 
20222021
Long-lived assets:
U.S.$31,119 $28,203 
China (1)
7,260 7,521 
Other countries
3,738 3,716 
Total long-lived assets
$42,117 $39,440 
(1)China includes Hong Kong and Taiwan. Long-lived assets located in China consist primarily of assets related to product manufacturing, retail stores and related infrastructure.
v3.22.2.2
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Sep. 24, 2022
Accounting Policies [Abstract]  
Basis of Presentation and Preparation
Basis of Presentation and Preparation
The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively “Apple” or the “Company”). Intercompany accounts and transactions have been eliminated. The preparation of these consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior period amounts in the consolidated financial statements and accompanying notes have been reclassified to conform to the current period’s presentation.
Fiscal Period The Company’s fiscal year is the 52- or 53-week period that ends on the last Saturday of September. An additional week is included in the first fiscal quarter every five or six years to realign the Company’s fiscal quarters with calendar quarters, which will occur in the first quarter of the Company’s fiscal year ending September 30, 2023. The Company’s fiscal years 2022, 2021 and 2020 spanned 52 weeks each. Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company’s fiscal years ended in September and the associated quarters, months and periods of those fiscal years.
Revenue Recognition
Revenue Recognition
Net sales consist of revenue from the sale of iPhone, Mac, iPad, Services and other products. The Company recognizes revenue at the amount to which it expects to be entitled when control of the products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products or services are transferred to its customers. For most of the Company’s Products net sales, control transfers when products are shipped. For the Company’s Services net sales, control transfers over time as services are delivered. Payment for Products and Services net sales is collected within a short period following transfer of control or commencement of delivery of services, as applicable.
The Company records reductions to Products net sales related to future product returns, price protection and other customer incentive programs based on the Company’s expectations and historical experience.
For arrangements with multiple performance obligations, which represent promises within an arrangement that are distinct, the Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices (“SSPs”). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company’s best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company’s process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the unique facts and circumstances related to each performance obligation including, where applicable, prices charged by the Company for similar offerings, market trends in the pricing for similar offerings, product-specific business objectives and the estimated cost to provide the performance obligation.
The Company has identified up to three performance obligations regularly included in arrangements involving the sale of iPhone, Mac, iPad and certain other products. The first performance obligation, which represents the substantial portion of the allocated sales price, is the hardware and bundled software delivered at the time of sale. The second performance obligation is the right to receive certain product-related bundled services, which include iCloud®, Siri® and Maps. The third performance obligation is the right to receive, on a when-and-if-available basis, future unspecified software upgrades relating to the software bundled with each device. The Company allocates revenue and any related discounts to these performance obligations based on their relative SSPs. Because the Company lacks observable prices for the undelivered performance obligations, the allocation of revenue is based on the Company’s estimated SSPs. Revenue allocated to the delivered hardware and bundled software is recognized when control has transferred to the customer, which generally occurs when the product is shipped. Revenue allocated to the product-related bundled services and unspecified software upgrade rights is deferred and recognized on a straight-line basis over the estimated period they are expected to be provided. Cost of sales related to delivered hardware and bundled software, including estimated warranty costs, are recognized at the time of sale. Costs incurred to provide product-related bundled services and unspecified software upgrade rights are recognized as cost of sales as incurred.
For certain long-term service arrangements, the Company has performance obligations for services it has not yet delivered. For these arrangements, the Company does not have a right to bill for the undelivered services. The Company has determined that any unbilled consideration relates entirely to the value of the undelivered services. Accordingly, the Company has not recognized revenue, and does not disclose amounts, related to these undelivered services.
For the sale of third-party products where the Company obtains control of the product before transferring it to the customer, the Company recognizes revenue based on the gross amount billed to customers. The Company considers multiple factors when determining whether it obtains control of third-party products, including evaluating if it can establish the price of the product, retains inventory risk for tangible products or has the responsibility for ensuring acceptability of the product. For third-party applications sold through the App Store and certain digital content sold through the Company’s other digital content stores, the Company does not obtain control of the product before transferring it to the customer. Therefore, the Company accounts for such sales on a net basis by recognizing in Services net sales only the commission it retains.
The Company records revenue net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded within other current liabilities until remitted to the relevant government authority.
Share-Based Compensation
Share-Based Compensation
The Company generally measures share-based compensation based on the closing price of the Company’s common stock on the date of grant, and recognizes expense on a straight-line basis for its estimate of equity awards that will ultimately vest. Further information regarding share-based compensation can be found in Note 9, “Benefit Plans.”
Earnings Per Share The Company applies the treasury stock method to determine the dilutive effect of potentially dilutive securities.
Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents.
Marketable Securities
The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date.
The Company’s investments in marketable equity securities are classified based on the nature of the securities and their availability for use in current operations.
The cost of securities sold is determined using the specific identification method.
Inventories
Inventories
Inventories are measured using the first-in, first-out method.
Restricted Marketable Securities
Restricted Marketable Securities
The Company considers marketable securities to be restricted when withdrawal or general use is legally restricted. The Company reports restricted marketable securities as current or non-current marketable securities in the Consolidated Balance Sheets based on the classification of the underlying securities.
Property, Plant and Equipment Property, Plant and EquipmentDepreciation on property, plant and equipment is recognized on a straight-line basis over the estimated useful lives of the assets, which for buildings is the shorter of 40 years or the remaining life of the building; between one and five years for machinery and equipment, including manufacturing equipment; and the shorter of the lease term or useful life for leasehold improvements. Capitalized costs related to internal-use software are amortized on a straight-line basis over the estimated useful lives of the assets, which range from five to seven years.
Derivative Instruments and Hedging
Derivative Instruments and Hedging
All derivative instruments are recorded in the Consolidated Balance Sheets at fair value. The accounting treatment for derivative gains and losses is based on intended use and hedge designation.
Gains and losses arising from amounts that are included in the assessment of cash flow hedge effectiveness are initially deferred in accumulated other comprehensive income/(loss) (“AOCI”) and subsequently reclassified into earnings when the hedged transaction affects earnings, and in the same line item in the Consolidated Statements of Operations. For options designated as cash flow hedges, the Company excludes time value from the assessment of hedge effectiveness and recognizes it on a straight-line basis over the life of the hedge in the Consolidated Statements of Operations line item to which the hedge relates. Changes in the fair value of amounts excluded from the assessment of hedge effectiveness are recognized in other comprehensive income/(loss) (“OCI”).
Gains and losses arising from amounts that are included in the assessment of fair value hedge effectiveness are recognized in the Consolidated Statements of Operations line item to which the hedge relates along with offsetting losses and gains related to the change in value of the hedged item. For foreign exchange forward contracts designated as fair value hedges, the Company excludes the forward carry component from the assessment of hedge effectiveness and recognizes it in other income/(expense), net (“OI&E”) on a straight-line basis over the life of the hedge. Changes in the fair value of amounts excluded from the assessment of hedge effectiveness are recognized in OCI.
Gains and losses arising from changes in the fair values of derivative instruments that are not designated as accounting hedges are recognized in the Consolidated Statements of Operations line items to which the derivative instruments relate.
The Company presents derivative assets and liabilities at their gross fair values in the Consolidated Balance Sheets. The Company classifies cash flows related to derivative instruments as operating activities in the Consolidated Statements of Cash Flows.
Fair Value Measurements
Fair Value Measurements
The fair values of the Company’s money market funds and certain marketable equity securities are based on quoted prices in active markets for identical assets. The valuation techniques used to measure the fair value of the Company’s debt instruments and all other financial instruments, which generally have counterparties with high credit ratings, are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data.
Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Income Taxes
Income Taxes
The Company records certain deferred tax assets and liabilities in connection with the minimum tax on certain foreign earnings created by the U.S. Tax Cuts and Jobs Act of 2017 (the “Act”).
Leases
Leases
The Company combines and accounts for lease and nonlease components as a single lease component for leases of corporate, data center and retail facilities. The discount rates related to the Company’s lease liabilities are generally based on estimates of the Company’s incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined.
Segment Reporting
Segment Reporting
The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments.
The Company manages its business primarily on a geographic basis. The Company’s reportable segments consist of the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. Americas includes both North and South America. Europe includes European countries, as well as India, the Middle East and Africa. Greater China includes China mainland, Hong Kong and Taiwan. Rest of Asia Pacific includes Australia and those Asian countries not included in the Company’s other reportable segments. Although the reportable segments provide similar hardware and software products and similar services, each one is managed separately to better align with the location of the Company’s customers and distribution partners and the unique market dynamics of each geographic region. The accounting policies of the various segments are the same as those described elsewhere in this Note 1, “Summary of Significant Accounting Policies.”
The Company evaluates the performance of its reportable segments based on net sales and operating income. Net sales for geographic segments are generally based on the location of customers and sales through the Company’s retail stores located in those geographic locations. Operating income for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Advertising expenses are generally included in the geographic segment in which the expenditures are incurred. Operating income for each segment excludes other income and expense and certain expenses managed outside the reportable segments. Costs excluded from segment operating income include various corporate expenses such as research and development (“R&D”), corporate marketing expenses, certain share-based compensation expenses, income taxes, various nonrecurring charges and other separately managed general and administrative costs. The Company does not include intercompany transfers between segments for management reporting purposes.
v3.22.2.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 24, 2022
Accounting Policies [Abstract]  
Computation of Basic and Diluted Earnings Per Share
The following table shows the computation of basic and diluted earnings per share for 2022, 2021 and 2020 (net income in millions and shares in thousands):
202220212020
Numerator:
Net income
$99,803 $94,680 $57,411 
Denominator:
Weighted-average basic shares outstanding
16,215,963 16,701,272 17,352,119 
Effect of dilutive securities
109,856 163,647 176,095 
Weighted-average diluted shares
16,325,819 16,864,919 17,528,214 
Basic earnings per share
$6.15 $5.67 $3.31 
Diluted earnings per share
$6.11 $5.61 $3.28 
v3.22.2.2
Revenue (Tables)
 12 Months Ended
Sep. 24, 2022
Revenue from Contract with Customer [Abstract]  
Net Sales Disaggregated by Significant Products and Services
Net sales disaggregated by significant products and services for 2022, 2021 and 2020 were as follows (in millions):
202220212020
iPhone (1)
$205,489 $191,973 $137,781 
Mac (1)
40,177 35,190 28,622 
iPad (1)
29,292 31,862 23,724 
Wearables, Home and Accessories (1)(2)
41,241 38,367 30,620 
Services (3)
78,129 68,425 53,768 
Total net sales (4)
$394,328 $365,817 $274,515 
(1)Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales price of the respective product.
(2)Wearables, Home and Accessories net sales include sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod mini and accessories.
(3)Services net sales include sales from the Company’s advertising, AppleCare, cloud, digital content, payment and other services. Services net sales also include amortization of the deferred value of services bundled in the sales price of certain products.
(4)Includes $7.5 billion of revenue recognized in 2022 that was included in deferred revenue as of September 25, 2021, $6.7 billion of revenue recognized in 2021 that was included in deferred revenue as of September 26, 2020, and $5.0 billion of revenue recognized in 2020 that was included in deferred revenue as of September 28, 2019.
v3.22.2.2
Financial Instruments (Tables)
 12 Months Ended
Sep. 24, 2022
Investments, All Other Investments [Abstract]  
Cash, Cash Equivalents and Marketable Securities by Significant Investment Category
The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of September 24, 2022 and September 25, 2021 (in millions):
2022
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$18,546 $— $— $18,546 $18,546 $— $— 
Level 1 (1):
Money market funds2,929 — — 2,929 2,929 — — 
Mutual funds274 — (47)227 — 227 — 
Subtotal3,203 — (47)3,156 2,929 227 — 
Level 2 (2):
U.S. Treasury securities25,134 — (1,725)23,409 338 5,091 17,980 
U.S. agency securities5,823 — (655)5,168 — 240 4,928 
Non-U.S. government securities16,948 2 (1,201)15,749 — 8,806 6,943 
Certificates of deposit and time deposits
2,067 — — 2,067 1,805 262 — 
Commercial paper718 — — 718 28 690 — 
Corporate debt securities87,148 9 (7,707)79,450 — 9,023 70,427 
Municipal securities921 — (35)886 — 266 620 
Mortgage- and asset-backed securities
22,553 — (2,593)19,960 — 53 19,907 
Subtotal161,312 11 (13,916)147,407 2,171 24,431 120,805 
Total (3)
$183,061 $11 $(13,963)$169,109 $23,646 $24,658 $120,805 
2021
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$17,305 $— $— $17,305 $17,305 $— $— 
Level 1 (1):
Money market funds9,608 — — 9,608 9,608 — — 
Mutual funds175 11 (1)185 — 185 — 
Subtotal9,783 11 (1)9,793 9,608 185 — 
Level 2 (2):
Equity securities1,527 — (564)963 — 963 — 
U.S. Treasury securities22,878 102 (77)22,903 3,596 6,625 12,682 
U.S. agency securities
8,949 2 (64)8,887 1,775 1,930 5,182 
Non-U.S. government securities
20,201 211 (101)20,311 390 3,091 16,830 
Certificates of deposit and time deposits
1,300 — — 1,300 490 810 — 
Commercial paper
2,639 — — 2,639 1,776 863 — 
Corporate debt securities
83,883 1,242 (267)84,858 — 12,327 72,531 
Municipal securities
967 14 — 981 — 130 851 
Mortgage- and asset-backed securities
20,529 171 (124)20,576 — 775 19,801 
Subtotal162,873 1,742 (1,197)163,418 8,027 27,514 127,877 
Total (3)
$189,961 $1,753 $(1,198)$190,516 $34,940 $27,699 $127,877 
(1)Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.
(2)Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
(3)As of September 24, 2022 and September 25, 2021, total marketable securities included $12.7 billion and $17.9 billion, respectively, that were restricted from general use, related to the State Aid Decision (refer to Note 5, “Income Taxes”) and other agreements.
Non-Current Marketable Debt Securities by Contractual Maturity
The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of September 24, 2022 (in millions):
Due after 1 year through 5 years$87,031 
Due after 5 years through 10 years16,429 
Due after 10 years17,345 
Total fair value$120,805 
Notional Amounts of Outstanding Derivative Instruments
The notional amounts of the Company’s outstanding derivative instruments as of September 24, 2022 and September 25, 2021 were as follows (in millions):
20222021
Derivative instruments designated as accounting hedges:
Foreign exchange contracts
$102,670 $76,475 
Interest rate contracts
$20,125 $16,875 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts
$185,381 $126,918 
Gross Fair Values of Derivative Assets and Liabilities
The gross fair values of the Company’s derivative assets and liabilities as of September 24, 2022 were as follows (in millions):
2022
Fair Value of
Derivatives Designated
as Accounting Hedges		Fair Value of
Derivatives Not Designated
as Accounting Hedges		Total
Fair Value
Derivative assets (1):
Foreign exchange contracts
$4,317 $2,819 $7,136 
Derivative liabilities (2):
Foreign exchange contracts
$2,205 $2,547 $4,752 
Interest rate contracts
$1,367 $— $1,367 
(1)Derivative assets are measured using Level 2 fair value inputs and are included in other current assets and other non-current assets in the Consolidated Balance Sheets.
(2)Derivative liabilities are measured using Level 2 fair value inputs and are included in other current liabilities and other non-current liabilities in the Consolidated Balance Sheets.
Carrying Amounts of Hedged Items in Fair Value Hedges
The carrying amounts of the Company’s hedged items in fair value hedges as of September 24, 2022 and September 25, 2021 were as follows (in millions):
20222021
Hedged assets/(liabilities):
Current and non-current marketable securities$13,378 $15,954 
Current and non-current term debt$(18,739)$(17,857)
v3.22.2.2
Consolidated Financial Statement Details (Tables)
 12 Months Ended
Sep. 24, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Property, Plant and Equipment, Net
Property, Plant and Equipment, Net
20222021
Land and buildings
$22,126 $20,041 
Machinery, equipment and internal-use software
81,060 78,659 
Leasehold improvements
11,271 11,023 
Gross property, plant and equipment
114,457 109,723 
Accumulated depreciation and amortization
(72,340)(70,283)
Total property, plant and equipment, net
$42,117 $39,440 
Other Non-Current Liabilities
Other Non-Current Liabilities
20222021
Long-term taxes payable$16,657 $24,689 
Other non-current liabilities
32,485 28,636 
Total other non-current liabilities
$49,142 $53,325 
Other Income/(Expense), Net
Other Income/(Expense), Net
The following table shows the detail of OI&E for 2022, 2021 and 2020 (in millions):
202220212020
Interest and dividend income
$2,825 $2,843 $3,763 
Interest expense
(2,931)(2,645)(2,873)
Other income/(expense), net(228)60 (87)
Total other income/(expense), net
$(334)$258 $803 
v3.22.2.2
Income Taxes (Tables)
 12 Months Ended
Sep. 24, 2022
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
The provision for income taxes for 2022, 2021 and 2020, consisted of the following (in millions):
202220212020
Federal:
Current
$7,890 $8,257 $6,306 
Deferred
(2,265)(7,176)(3,619)
Total
5,625 1,081 2,687 
State:
Current
1,519 1,620 455 
Deferred
84 (338)21 
Total
1,603 1,282 476 
Foreign:
Current
8,996 9,424 3,134 
Deferred
3,076 2,740 3,383 
Total
12,072 12,164 6,517 
Provision for income taxes
$19,300 $14,527 $9,680 
Reconciliation of Provision for Income Taxes to Amount Computed by Applying the Statutory Federal Income Tax Rate to Income Before Provision for Income Taxes
A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate (21% in 2022, 2021 and 2020) to income before provision for income taxes for 2022, 2021 and 2020, is as follows (dollars in millions):
202220212020
Computed expected tax
$25,012 $22,933 $14,089 
State taxes, net of federal effect
1,518 1,151 423 
Impacts of the Act542 — (582)
Earnings of foreign subsidiaries(4,366)(4,715)(2,534)
Foreign-derived intangible income deduction(296)(1,372)(169)
Research and development credit, net
(1,153)(1,033)(728)
Excess tax benefits from equity awards
(1,871)(2,137)(930)
Other
(86)(300)111 
Provision for income taxes
$19,300 $14,527 $9,680 
Effective tax rate
16.2 %13.3 %14.4 %
Significant Components of Deferred Tax Assets and Liabilities
As of September 24, 2022 and September 25, 2021, the significant components of the Company’s deferred tax assets and liabilities were (in millions):
20222021
Deferred tax assets:
Amortization and depreciation
$1,496 $5,575 
Accrued liabilities and other reserves
6,515 5,895 
Lease liabilities2,400 2,406 
Deferred revenue5,742 5,399 
Unrealized losses2,913 53 
Tax credit carryforwards6,962 4,262 
Other1,596 1,639 
Total deferred tax assets27,624 25,229 
Less: Valuation allowance(7,530)(4,903)
Total deferred tax assets, net
20,094 20,326 
Deferred tax liabilities:
Minimum tax on foreign earnings
1,983 4,318 
Right-of-use assets2,163 2,167 
Unrealized gains942 203 
Other
469 565 
Total deferred tax liabilities
5,557 7,253 
Net deferred tax assets$14,537 $13,073 
Aggregate Changes in Gross Unrecognized Tax Benefits
The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2022, 2021 and 2020, is as follows (in millions):
202220212020
Beginning balances
$15,477 $16,475 $15,619 
Increases related to tax positions taken during a prior year
2,284 816 454 
Decreases related to tax positions taken during a prior year
(1,982)(1,402)(791)
Increases related to tax positions taken during the current year
1,936 1,607 1,347 
Decreases related to settlements with taxing authorities
(28)(1,838)(85)
Decreases related to expiration of the statute of limitations
(929)(181)(69)
Ending balances
$16,758 $15,477 $16,475 
v3.22.2.2
Leases (Tables)
 12 Months Ended
Sep. 24, 2022
Leases [Abstract]  
ROU Assets and Lease Liabilities
The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 24, 2022 and September 25, 2021 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20222021
Right-of-use assets:
Operating leasesOther non-current assets$10,417 $10,087 
Finance leasesProperty, plant and equipment, net952 861 
Total right-of-use assets$11,369 $10,948 
Lease liabilities:
Operating leasesOther current liabilities$1,534 $1,449 
Other non-current liabilities9,936 9,506 
Finance leasesOther current liabilities129 79 
Other non-current liabilities812 769 
Total lease liabilities$12,411 $11,803 
Lease Liability Maturities
Lease liability maturities as of September 24, 2022, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2023$1,758 $155 $1,913 
20241,742 130 1,872 
20251,677 81 1,758 
20261,382 48 1,430 
20271,143 34 1,177 
Thereafter5,080 906 5,986 
Total undiscounted liabilities12,782 1,354 14,136 
Less: Imputed interest(1,312)(413)(1,725)
Total lease liabilities$11,470 $941 $12,411 
Lease Liability Maturities
Lease liability maturities as of September 24, 2022, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2023$1,758 $155 $1,913 
20241,742 130 1,872 
20251,677 81 1,758 
20261,382 48 1,430 
20271,143 34 1,177 
Thereafter5,080 906 5,986 
Total undiscounted liabilities12,782 1,354 14,136 
Less: Imputed interest(1,312)(413)(1,725)
Total lease liabilities$11,470 $941 $12,411 
v3.22.2.2
Debt (Tables)
 12 Months Ended
Sep. 24, 2022
Debt Disclosure [Abstract]  
Summary of Cash Flows Associated with Issuance and Maturities of Commercial Paper The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for 2022, 2021 and 2020 (in millions):
202220212020
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net$5,264 $(357)$100 
Maturities greater than 90 days:
Proceeds from commercial paper
5,948 7,946 6,185 
Repayments of commercial paper
(7,257)(6,567)(7,248)
Proceeds from/(Repayments of) commercial paper, net(1,309)1,379 (1,063)
Total proceeds from/(repayments of) commercial paper, net$3,955 $1,022 $(963)
Summary of Term Debt The following table provides a summary of the Company’s term debt as of September 24, 2022 and September 25, 2021:
Maturities
(calendar year)
20222021
Amount
(in millions)
Effective
Interest Rate
Amount
(in millions)
Effective
Interest Rate
2013 – 2021 debt issuances:
Floating-rate notes $— $1,750 
0.48% – 0.63%
Fixed-rate 0.000% – 4.650% notes
2022 – 2061
106,324 
0.03% – 4.78%
116,313 
0.03% – 4.78%
Fourth quarter 2022 debt issuance:
Fixed-rate 3.250% – 4.100% notes
2029 – 2062
5,500 
3.27% – 4.12%
— 
Total term debt111,824 118,063 
Unamortized premium/(discount) and issuance costs, net
(374)(380)
Hedge accounting fair value adjustments(1,363)1,036 
Less: Current portion of term debt(11,128)(9,613)
Total non-current portion of term debt$98,959 $109,106 
Future Principal Payments for Notes
The future principal payments for the Company’s Notes as of September 24, 2022, are as follows (in millions):
2023$11,139 
20249,910 
202510,645 
202611,209 
20279,631 
Thereafter59,290 
Total term debt$111,824 
v3.22.2.2
Shareholders' Equity (Tables)
 12 Months Ended
Sep. 24, 2022
Equity [Abstract]  
Changes in Shares of Common Stock
The following table shows the changes in shares of common stock for 2022, 2021 and 2020 (in thousands):
202220212020
Common stock outstanding, beginning balances
16,426,786 16,976,763 17,772,945 
Common stock repurchased
(568,589)(656,340)(917,270)
Common stock issued, net of shares withheld for employee taxes
85,228 106,363 121,088 
Common stock outstanding, ending balances
15,943,425 16,426,786 16,976,763 
v3.22.2.2
Benefit Plans (Tables)
 12 Months Ended
Sep. 24, 2022
Share-Based Payment Arrangement [Abstract]  
Restricted Stock Unit Activity
A summary of the Company’s RSU activity and related information for 2022, 2021 and 2020, is as follows:
Number of
RSUs
(in thousands)
Weighted-Average
Grant Date Fair
Value Per RSU
Aggregate
Fair Value
(in millions)
Balance as of September 28, 2019326,068 $42.30 
RSUs granted
156,800 $59.20 
RSUs vested
(157,743)$40.29 
RSUs canceled
(14,347)$48.07 
Balance as of September 26, 2020310,778 $51.58 
RSUs granted
89,363 $116.33 
RSUs vested
(145,766)$50.71 
RSUs canceled
(13,948)$68.95 
Balance as of September 25, 2021240,427 $75.16 
RSUs granted
91,674 $150.70 
RSUs vested
(115,861)$72.12 
RSUs canceled
(14,739)$99.77 
Balance as of September 24, 2022201,501 $109.48 $30,312 
Summary of Share-Based Compensation Expense and the Related Income Tax Benefit
The following table shows share-based compensation expense and the related income tax benefit included in the Consolidated Statements of Operations for 2022, 2021 and 2020 (in millions):
202220212020
Share-based compensation expense$9,038 $7,906 $6,829 
Income tax benefit related to share-based compensation expense
$(4,002)$(4,056)$(2,476)
v3.22.2.2
Commitments and Contingencies (Tables)
 12 Months Ended
Sep. 24, 2022
Commitments and Contingencies Disclosure [Abstract]  
Future Payments Under Unconditional Purchase Obligations Future payments under noncancelable unconditional purchase obligations with a remaining term in excess of one year as of September 24, 2022, are as follows (in millions):
2023$13,488 
20244,876 
20251,418 
20266,780 
2027312 
Thereafter412 
Total$27,286 
v3.22.2.2
Segment Information and Geographic Data (Tables)
 12 Months Ended
Sep. 24, 2022
Segment Reporting [Abstract]  
Information by Reportable Segment
The following table shows information by reportable segment for 2022, 2021 and 2020 (in millions):
202220212020
Americas:
Net sales
$169,658 $153,306 $124,556 
Operating income
$62,683 $53,382 $37,722 
Europe:
Net sales
$95,118 $89,307 $68,640 
Operating income
$35,233 $32,505 $22,170 
Greater China:
Net sales
$74,200 $68,366 $40,308 
Operating income
$31,153 $28,504 $15,261 
Japan:
Net sales
$25,977 $28,482 $21,418 
Operating income
$12,257 $12,798 $9,279 
Rest of Asia Pacific:
Net sales
$29,375 $26,356 $19,593 
Operating income
$11,569 $9,817 $6,808 
Reconciliation of Segment Operating Income to the Consolidated Statements of Operations
A reconciliation of the Company’s segment operating income to the Consolidated Statements of Operations for 2022, 2021 and 2020 is as follows (in millions):
202220212020
Segment operating income
$152,895 $137,006 $91,240 
Research and development expense
(26,251)(21,914)(18,752)
Other corporate expenses, net
(7,207)(6,143)(6,200)
Total operating income
$119,437 $108,949 $66,288 
Net Sales and Long-lived Assets Net sales for 2022, 2021 and 2020 and long-lived assets as of September 24, 2022 and September 25, 2021 were as follows (in millions):
202220212020
Net sales:
U.S.$147,859 $133,803 $109,197 
China (1)
74,200 68,366 40,308 
Other countries
172,269 163,648 125,010 
Total net sales
$394,328 $365,817 $274,515 
20222021
Long-lived assets:
U.S.$31,119 $28,203 
China (1)
7,260 7,521 
Other countries
3,738 3,716 
Total long-lived assets
$42,117 $39,440 
(1)China includes Hong Kong and Taiwan. Long-lived assets located in China consist primarily of assets related to product manufacturing, retail stores and related infrastructure.
v3.22.2.2
Summary of Significant Accounting Policies - Additional Information (Details)
$ in Billions
 12 Months Ended
Sep. 24, 2022
USD ($)
performanceObligation
Sep. 25, 2021
USD ($)
Sep. 26, 2020
USD ($)
Significant Accounting Policies [Line Items]      
Performance obligations in arrangements (up to) | performanceObligation 3    
Depreciation and amortization expense on property, plant and equipment | $ $ 8.7 $ 9.5 $ 9.7
Building | Maximum      
Significant Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful life 40 years    
Machinery and equipment, including manufacturing equipment | Minimum      
Significant Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful life 1 year    
Machinery and equipment, including manufacturing equipment | Maximum      
Significant Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful life 5 years    
Internal-Use Software | Minimum      
Significant Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful life 5 years    
Internal-Use Software | Maximum      
Significant Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful life 7 years    
v3.22.2.2
Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Numerator:      
Net income $ 99,803 $ 94,680 $ 57,411
Denominator:      
Weighted-average basic shares outstanding (in shares) 16,215,963 16,701,272 17,352,119
Effect of dilutive securities (in shares) 109,856 163,647 176,095
Weighted-average diluted shares (in shares) 16,325,819 16,864,919 17,528,214
Basic earnings per share (in dollars per share) $ 6.15 $ 5.67 $ 3.31
Diluted earnings per share (in dollars per share) $ 6.11 $ 5.61 $ 3.28
v3.22.2.2
Revenue - Net Sales Disaggregated by Significant Products and Services (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Disaggregation of Revenue [Line Items]      
Net sales $ 394,328 $ 365,817 $ 274,515
Revenue recognized that was included in deferred revenue at the beginning of the period 7,500 6,700 5,000
iPhone      
Disaggregation of Revenue [Line Items]      
Net sales 205,489 191,973 137,781
Mac      
Disaggregation of Revenue [Line Items]      
Net sales 40,177 35,190 28,622
iPad      
Disaggregation of Revenue [Line Items]      
Net sales 29,292 31,862 23,724
Wearables, Home and Accessories      
Disaggregation of Revenue [Line Items]      
Net sales 41,241 38,367 30,620
Services      
Disaggregation of Revenue [Line Items]      
Net sales $ 78,129 $ 68,425 $ 53,768
v3.22.2.2
Revenue - Additional Information (Details) - USD ($)
$ in Billions
Sep. 24, 2022
Sep. 25, 2021
Revenue from Contract with Customer [Abstract]    
Total deferred revenue $ 12.4 $ 11.9
v3.22.2.2
Revenue - Deferred Revenue, Expected Timing of Realization (Details)
Sep. 24, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-09-25  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 64.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 27.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-29  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 7.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-09-28  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 2.00%
Deferred revenue, expected timing of realization, period
v3.22.2.2
Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Debt Securities, Available-for-sale [Line Items]    
Cash, Cash Equivalents and Marketable Securities, Adjusted Cost $ 183,061 $ 189,961
Cash Equivalents and Marketable Securities, Unrealized Gains 11 1,753
Cash Equivalents and Marketable Securities, Unrealized Loss (13,963) (1,198)
Cash, Cash Equivalents and Marketable Securities, Fair Value 169,109 190,516
Cash and Cash Equivalents 23,646 34,940
Current Marketable Securities 24,658 27,699
Non-Current Marketable Securities 120,805 127,877
Total marketable securities that were restricted from general use 12,700 17,900
Level 1    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Equity, Adjusted Cost 3,203 9,783
Marketable Securities, Equity, Unrealized Gains 0 11
Marketable Securities, Equity, Unrealized Losses (47) (1)
Marketable Securities, Equity, Fair Value 3,156 9,793
Cash and Cash Equivalents 2,929 9,608
Current Marketable Securities 227 185
Non-Current Marketable Securities 0 0
Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 161,312 162,873
Marketable Securities, Debt, Unrealized Gains 11 1,742
Marketable Securities, Debt, Unrealized Losses (13,916) (1,197)
Marketable Securities, Debt, Fair Value 147,407 163,418
Cash and Cash Equivalents 2,171 8,027
Current Marketable Securities 24,431 27,514
Non-Current Marketable Securities 120,805 127,877
Cash    
Debt Securities, Available-for-sale [Line Items]    
Cash 18,546 17,305
Cash and Cash Equivalents 18,546 17,305
Current Marketable Securities 0 0
Non-Current Marketable Securities 0 0
Money market funds | Level 1    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Equity, Adjusted Cost 2,929 9,608
Marketable Securities, Equity, Unrealized Gains 0 0
Marketable Securities, Equity, Unrealized Losses 0 0
Marketable Securities, Equity, Fair Value 2,929 9,608
Cash and Cash Equivalents 2,929 9,608
Current Marketable Securities 0 0
Non-Current Marketable Securities 0 0
Mutual funds | Level 1    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Equity, Adjusted Cost 274 175
Marketable Securities, Equity, Unrealized Gains 0 11
Marketable Securities, Equity, Unrealized Losses (47) (1)
Marketable Securities, Equity, Fair Value 227 185
Cash and Cash Equivalents 0 0
Current Marketable Securities 227 185
Non-Current Marketable Securities 0 0
Equity securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Equity, Adjusted Cost   1,527
Marketable Securities, Equity, Unrealized Gains   0
Marketable Securities, Equity, Unrealized Losses   (564)
Marketable Securities, Equity, Fair Value   963
Cash and Cash Equivalents   0
Current Marketable Securities   963
Non-Current Marketable Securities   0
U.S. Treasury securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 25,134 22,878
Marketable Securities, Debt, Unrealized Gains 0 102
Marketable Securities, Debt, Unrealized Losses (1,725) (77)
Marketable Securities, Debt, Fair Value 23,409 22,903
Cash and Cash Equivalents 338 3,596
Current Marketable Securities 5,091 6,625
Non-Current Marketable Securities 17,980 12,682
U.S. agency securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 5,823 8,949
Marketable Securities, Debt, Unrealized Gains 0 2
Marketable Securities, Debt, Unrealized Losses (655) (64)
Marketable Securities, Debt, Fair Value 5,168 8,887
Cash and Cash Equivalents 0 1,775
Current Marketable Securities 240 1,930
Non-Current Marketable Securities 4,928 5,182
Non-U.S. government securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 16,948 20,201
Marketable Securities, Debt, Unrealized Gains 2 211
Marketable Securities, Debt, Unrealized Losses (1,201) (101)
Marketable Securities, Debt, Fair Value 15,749 20,311
Cash and Cash Equivalents 0 390
Current Marketable Securities 8,806 3,091
Non-Current Marketable Securities 6,943 16,830
Certificates of deposit and time deposits | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 2,067 1,300
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 2,067 1,300
Cash and Cash Equivalents 1,805 490
Current Marketable Securities 262 810
Non-Current Marketable Securities 0 0
Commercial paper | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 718 2,639
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 718 2,639
Cash and Cash Equivalents 28 1,776
Current Marketable Securities 690 863
Non-Current Marketable Securities 0 0
Corporate debt securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 87,148 83,883
Marketable Securities, Debt, Unrealized Gains 9 1,242
Marketable Securities, Debt, Unrealized Losses (7,707) (267)
Marketable Securities, Debt, Fair Value 79,450 84,858
Cash and Cash Equivalents 0 0
Current Marketable Securities 9,023 12,327
Non-Current Marketable Securities 70,427 72,531
Municipal securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 921 967
Marketable Securities, Debt, Unrealized Gains 0 14
Marketable Securities, Debt, Unrealized Losses (35) 0
Marketable Securities, Debt, Fair Value 886 981
Cash and Cash Equivalents 0 0
Current Marketable Securities 266 130
Non-Current Marketable Securities 620 851
Mortgage- and asset-backed securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 22,553 20,529
Marketable Securities, Debt, Unrealized Gains 0 171
Marketable Securities, Debt, Unrealized Losses (2,593) (124)
Marketable Securities, Debt, Fair Value 19,960 20,576
Cash and Cash Equivalents 0 0
Current Marketable Securities 53 775
Non-Current Marketable Securities $ 19,907 $ 19,801
v3.22.2.2
Financial Instruments - Non-Current Marketable Debt Securities by Contractual Maturity (Details)
$ in Millions
Sep. 24, 2022
USD ($)
Fair value of non-current marketable debt securities by contractual maturity  
Due after 1 year through 5 years $ 87,031
Due after 5 years through 10 years 16,429
Due after 10 years 17,345
Total fair value $ 120,805
v3.22.2.2
Financial Instruments - Additional Information (Details)
$ in Millions
 12 Months Ended
Sep. 24, 2022
USD ($)
Customer
Vendor
Sep. 25, 2021
Vendor
Financial Instruments [Line Items]    
Potential reduction to derivative assets resulting from rights of set-off under master netting arrangements, including the effects of collateral $ 7,800  
Potential reduction to derivative liabilities resulting from rights of set-off under master netting arrangements, including the effects of collateral 7,800  
Net derivative assets/(liabilities) after potential reductions under master netting arrangements 412  
Credit concentration risk    
Financial Instruments [Line Items]    
Derivative, credit risk amount $ 7,136  
Trade receivables | Credit concentration risk    
Financial Instruments [Line Items]    
Number of customers that individually represented 10% or more of total trade receivables | Customer 1  
Trade receivables | Credit concentration risk | Customer One    
Financial Instruments [Line Items]    
Concentration risk, percentage 10.00%  
Trade receivables | Credit concentration risk | Cellular network carriers    
Financial Instruments [Line Items]    
Concentration risk, percentage 44.00% 42.00%
Non-trade receivables | Credit concentration risk    
Financial Instruments [Line Items]    
Number of vendors that individually represented 10% or more of total vendor non-trade receivables | Vendor 2 3
Non-trade receivables | Credit concentration risk | Vendor one    
Financial Instruments [Line Items]    
Concentration risk, percentage 54.00% 52.00%
Non-trade receivables | Credit concentration risk | Vendor two    
Financial Instruments [Line Items]    
Concentration risk, percentage 13.00% 11.00%
Non-trade receivables | Credit concentration risk | Vendor three    
Financial Instruments [Line Items]    
Concentration risk, percentage   11.00%
Hedges of foreign currency exposure associated with revenue and inventory purchases    
Financial Instruments [Line Items]    
Maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for foreign currency transactions 12 months  
Hedges of foreign currency exposure associated with term debt and marketable securities    
Financial Instruments [Line Items]    
Maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for foreign currency transactions 20 years  
v3.22.2.2
Financial Instruments - Notional Amounts Associated with Derivative Instruments (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Derivatives designated as accounting hedges | Foreign exchange contracts    
Derivative [Line Items]    
Derivatives, notional amount $ 102,670 $ 76,475
Derivatives designated as accounting hedges | Interest rate contracts    
Derivative [Line Items]    
Derivatives, notional amount 20,125 16,875
Derivatives not designated as accounting hedges | Foreign exchange contracts    
Derivative [Line Items]    
Derivatives, notional amount $ 185,381 $ 126,918
v3.22.2.2
Financial Instruments - Gross Fair Values of Derivative Assets and Liabilities (Details) - Level 2
$ in Millions
Sep. 24, 2022
USD ($)
Other current assets and other non-current assets | Foreign exchange contracts  
Derivative assets:  
Fair value of derivative assets $ 7,136
Other current assets and other non-current assets | Derivatives designated as accounting hedges | Foreign exchange contracts  
Derivative assets:  
Fair value of derivative assets 4,317
Other current assets and other non-current assets | Derivatives not designated as accounting hedges | Foreign exchange contracts  
Derivative assets:  
Fair value of derivative assets 2,819
Other current liabilities and other non-current liabilities | Foreign exchange contracts  
Derivative liabilities:  
Fair value of derivative liabilities 4,752
Other current liabilities and other non-current liabilities | Interest rate contracts  
Derivative liabilities:  
Fair value of derivative liabilities 1,367
Other current liabilities and other non-current liabilities | Derivatives designated as accounting hedges | Foreign exchange contracts  
Derivative liabilities:  
Fair value of derivative liabilities 2,205
Other current liabilities and other non-current liabilities | Derivatives designated as accounting hedges | Interest rate contracts  
Derivative liabilities:  
Fair value of derivative liabilities 1,367
Other current liabilities and other non-current liabilities | Derivatives not designated as accounting hedges | Foreign exchange contracts  
Derivative liabilities:  
Fair value of derivative liabilities 2,547
Other current liabilities and other non-current liabilities | Derivatives not designated as accounting hedges | Interest rate contracts  
Derivative liabilities:  
Fair value of derivative liabilities $ 0
v3.22.2.2
Financial Instruments - Derivative Instruments Designated as Fair Value Hedges and Related Hedged Items (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Current and non-current marketable securities    
Derivatives, Fair Value [Line Items]    
Carrying amount of hedged marketable securities $ 13,378 $ 15,954
Current and non-current term debt    
Derivatives, Fair Value [Line Items]    
Carrying amount of hedged term debt $ (18,739) $ (17,857)
v3.22.2.2
Consolidated Financial Statement Details - Property, Plant and Equipment, Net (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 114,457 $ 109,723
Accumulated depreciation and amortization (72,340) (70,283)
Total property, plant and equipment, net 42,117 39,440
Land and buildings    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 22,126 20,041
Machinery, equipment and internal-use software    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 81,060 78,659
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 11,271 $ 11,023
v3.22.2.2
Consolidated Financial Statement Details - Other Non-Current Liabilities (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Long-term taxes payable $ 16,657 $ 24,689
Other non-current liabilities 32,485 28,636
Total other non-current liabilities $ 49,142 $ 53,325
v3.22.2.2
Consolidated Financial Statement Details - Other Income/(Expense), Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Interest and dividend income $ 2,825 $ 2,843 $ 3,763
Interest expense (2,931) (2,645) (2,873)
Other income/(expense), net (228) 60 (87)
Total other income/(expense), net $ (334) $ 258 $ 803
v3.22.2.2
Income Taxes - Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Federal:      
Current $ 7,890 $ 8,257 $ 6,306
Deferred (2,265) (7,176) (3,619)
Federal income tax expense/(benefit) 5,625 1,081 2,687
State:      
Current 1,519 1,620 455
Deferred 84 (338) 21
State income tax expense/(benefit) 1,603 1,282 476
Foreign:      
Current 8,996 9,424 3,134
Deferred 3,076 2,740 3,383
Total 12,072 12,164 6,517
Provision for income taxes $ 19,300 $ 14,527 $ 9,680
v3.22.2.2
Income Taxes - Additional Information (Details)
$ in Millions, € in Billions
 12 Months Ended
Aug. 30, 2016
EUR (€)
Subsidiary
Sep. 24, 2022
USD ($)
Sep. 25, 2021
USD ($)
Sep. 26, 2020
USD ($)
Sep. 24, 2022
EUR (€)
Sep. 28, 2019
USD ($)
Income Tax Contingency [Line Items]            
Foreign pre-tax earnings   $ 71,300 $ 68,700 $ 38,100    
U.S. statutory federal income tax rate   21.00% 21.00% 21.00%    
Foreign tax credit carryforwards   $ 4,400        
Research and development tax credit carryforwards   2,500        
Gross unrecognized tax benefits   16,758 $ 15,477 $ 16,475   $ 15,619
Gross unrecognized tax benefits that would impact effective tax rate, if recognized   8,000 $ 6,600      
Reasonably possible decrease in gross unrecognized tax benefits over next 12 months   $ 4,800        
Unfavorable investigation outcome, EU State Aid rules            
Income Tax Contingency [Line Items]            
Number of subsidiaries impacted by the European Commission tax ruling | Subsidiary 2          
Maximum potential loss related to European Commission tax ruling | € € 13.1       € 12.7  
Unfavorable investigation outcome, EU State Aid rules - interest component            
Income Tax Contingency [Line Items]            
Maximum potential loss related to European Commission tax ruling | € € 1.2          
v3.22.2.2
Income Taxes - Reconciliation of Provision for Income Taxes to Amount Computed by Applying the Statutory Federal Income Tax Rate to Income Before Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Income Tax Disclosure [Abstract]      
Computed expected tax $ 25,012 $ 22,933 $ 14,089
State taxes, net of federal effect 1,518 1,151 423
Impacts of the Act 542 0 (582)
Earnings of foreign subsidiaries (4,366) (4,715) (2,534)
Foreign-derived intangible income deduction (296) (1,372) (169)
Research and development credit, net (1,153) (1,033) (728)
Excess tax benefits from equity awards (1,871) (2,137) (930)
Other (86) (300) 111
Provision for income taxes $ 19,300 $ 14,527 $ 9,680
Effective tax rate 16.20% 13.30% 14.40%
v3.22.2.2
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Deferred tax assets:    
Amortization and depreciation $ 1,496 $ 5,575
Accrued liabilities and other reserves 6,515 5,895
Lease liabilities 2,400 2,406
Deferred revenue 5,742 5,399
Unrealized losses 2,913 53
Tax credit carryforwards 6,962 4,262
Other 1,596 1,639
Total deferred tax assets 27,624 25,229
Less: Valuation allowance (7,530) (4,903)
Total deferred tax assets, net 20,094 20,326
Deferred tax liabilities:    
Minimum tax on foreign earnings 1,983 4,318
Right-of-use assets 2,163 2,167
Unrealized gains 942 203
Other 469 565
Total deferred tax liabilities 5,557 7,253
Net deferred tax assets $ 14,537 $ 13,073
v3.22.2.2
Income Taxes - Aggregate Changes in Gross Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balances $ 15,477 $ 16,475 $ 15,619
Increases related to tax positions taken during a prior year 2,284 816 454
Decreases related to tax positions taken during a prior year (1,982) (1,402) (791)
Increases related to tax positions taken during the current year 1,936 1,607 1,347
Decreases related to settlements with taxing authorities (28) (1,838) (85)
Decreases related to expiration of the statute of limitations (929) (181) (69)
Ending balances $ 16,758 $ 15,477 $ 16,475
v3.22.2.2
Leases - Additional Information (Details) - USD ($)
$ in Billions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Lessee, Lease, Description [Line Items]      
Typical term of leases (not exceeding) 10 years    
Fixed operating lease costs $ 1.9 $ 1.7 $ 1.5
Variable lease costs 14.9 12.9 9.3
Fixed operating lease payments 1.8 1.4 1.5
Right-of-use assets obtained in exchange for operating and finance lease liabilities $ 2.8 $ 3.3 $ 10.5
Weighted-average remaining lease term 10 years 1 month 6 days 10 years 9 months 18 days  
Weighted-average discount rate 2.30% 2.00%  
Leases not yet commenced, future payments $ 1.2    
Minimum      
Lessee, Lease, Description [Line Items]      
Leases not yet commenced, lease term 1 year    
Maximum      
Lessee, Lease, Description [Line Items]      
Leases not yet commenced, lease term 21 years    
v3.22.2.2
Leases - ROU Assets and Lease Liabilities (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Lease-Related Assets and Liabilities    
Operating lease right-of-use assets $ 10,417 $ 10,087
Operating lease, right-of-use asset, statement of financial position [Extensible Enumeration] Other non-current assets Other non-current assets
Finance lease right-of-use assets $ 952 $ 861
Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration] Property, plant and equipment, net Property, plant and equipment, net
Total right-of-use assets $ 11,369 $ 10,948
Operating lease liabilities, current $ 1,534 $ 1,449
Operating lease, liability, current, statement of financial position [Extensible Enumeration] Other current liabilities Other current liabilities
Operating lease liabilities, non-current $ 9,936 $ 9,506
Operating lease, liability, noncurrent, statement of financial position [Extensible Enumeration] Other non-current liabilities Other non-current liabilities
Finance lease liabilities, current $ 129 $ 79
Finance lease, liability, current, statement of financial position [Extensible Enumeration] Other current liabilities Other current liabilities
Finance lease liabilities, non-current $ 812 $ 769
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration] Other non-current liabilities Other non-current liabilities
Total lease liabilities $ 12,411 $ 11,803
v3.22.2.2
Leases - Lease Liability Maturities (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Operating Leases    
2023 $ 1,758  
2024 1,742  
2025 1,677  
2026 1,382  
2027 1,143  
Thereafter 5,080  
Total undiscounted liabilities 12,782  
Less: Imputed interest (1,312)  
Total lease liabilities 11,470  
Finance Leases    
2023 155  
2024 130  
2025 81  
2026 48  
2027 34  
Thereafter 906  
Total undiscounted liabilities 1,354  
Less: Imputed interest (413)  
Total lease liabilities 941  
Total    
2023 1,913  
2024 1,872  
2025 1,758  
2026 1,430  
2027 1,177  
Thereafter 5,986  
Total undiscounted liabilities 14,136  
Less: Imputed interest (1,725)  
Total lease liabilities $ 12,411 $ 11,803
v3.22.2.2
Debt - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Debt Instrument [Line Items]      
Commercial paper $ 9,982 $ 6,000  
Proceeds from repurchase agreements     $ 5,200
Repayments of repurchase agreements     (5,200)
Interest expense on term debt 2,800 2,600 $ 2,800
Commercial paper      
Debt Instrument [Line Items]      
Commercial paper $ 10,000 $ 6,000  
Commercial paper, general maturity period (less than) 9 months    
Commercial paper, weighted-average interest rate 2.31% 0.06%  
Level 2      
Debt Instrument [Line Items]      
Floating- and fixed-rate notes, aggregate fair value $ 98,800 $ 125,300  
v3.22.2.2
Debt - Summary of Cash Flows Associated with Commercial Paper (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Maturities 90 days or less:      
Proceeds from/(Repayments of) commercial paper, net $ 5,264 $ (357) $ 100
Maturities greater than 90 days:      
Proceeds from commercial paper 5,948 7,946 6,185
Repayments of commercial paper (7,257) (6,567) (7,248)
Proceeds from/(Repayments of) commercial paper, net (1,309) 1,379 (1,063)
Total proceeds from/(repayments of) commercial paper, net $ 3,955 $ 1,022 $ (963)
v3.22.2.2
Debt - Summary of Term Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Debt Instrument [Line Items]    
Total term debt $ 111,824 $ 118,063
Unamortized premium/(discount) and issuance costs, net (374) (380)
Hedge accounting fair value adjustments (1,363) 1,036
Less: Current portion of term debt (11,128) (9,613)
Total non-current portion of term debt 98,959 109,106
2013 – 2021 debt issuances | Floating-rate notes    
Debt Instrument [Line Items]    
Total term debt 0 $ 1,750
2013 – 2021 debt issuances | Floating-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, effective interest rate   0.48%
2013 – 2021 debt issuances | Floating-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, effective interest rate   0.63%
2013 – 2021 debt issuances | Fixed-rate notes    
Debt Instrument [Line Items]    
Total term debt $ 106,324 $ 116,313
Debt instrument, maturity year (calendar), start 2022  
Debt instrument, maturity year (calendar), end 2061  
2013 – 2021 debt issuances | Fixed-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 0.00%  
Debt instrument, effective interest rate 0.03% 0.03%
2013 – 2021 debt issuances | Fixed-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 4.65%  
Debt instrument, effective interest rate 4.78% 4.78%
Fourth quarter 2022 debt issuance | Fixed-rate notes    
Debt Instrument [Line Items]    
Total term debt $ 5,500  
Debt instrument, maturity year (calendar), start 2029  
Debt instrument, maturity year (calendar), end 2062  
Fourth quarter 2022 debt issuance | Fixed-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 3.25%  
Debt instrument, effective interest rate 3.27%  
Fourth quarter 2022 debt issuance | Fixed-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 4.10%  
Debt instrument, effective interest rate 4.12%  
v3.22.2.2
Debt - Future Principal Payments for Term Debt (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Debt Disclosure [Abstract]    
2023 $ 11,139  
2024 9,910  
2025 10,645  
2026 11,209  
2027 9,631  
Thereafter 59,290  
Total term debt $ 111,824 $ 118,063
v3.22.2.2
Shareholders' Equity - Additional Information (Details)
shares in Millions, $ in Billions
 12 Months Ended
Sep. 24, 2022
USD ($)
shares
Stockholders' Equity Note [Abstract]  
Number of shares repurchased (in shares) | shares 569
Amount of share repurchases | $ $ 90.2
v3.22.2.2
Shareholders' Equity - Shares of Common Stock (Details) - shares
shares in Thousands
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Increase (Decrease) in Shares of Common Stock Outstanding [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 16,426,786    
Common stock repurchased (in shares) (569,000)    
Common stock outstanding, ending balances (in shares) 15,943,425 16,426,786  
Common stock      
Increase (Decrease) in Shares of Common Stock Outstanding [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 16,426,786 16,976,763 17,772,945
Common stock repurchased (in shares) (568,589) (656,340) (917,270)
Common stock issued, net of shares withheld for employee taxes (in shares) 85,228 106,363 121,088
Common stock outstanding, ending balances (in shares) 15,943,425 16,426,786 16,976,763
v3.22.2.2
Benefit Plans - Additional Information (Details)
shares in Millions
 12 Months Ended
Sep. 24, 2022
USD ($)
shares
Sep. 25, 2021
USD ($)
shares
Sep. 26, 2020
USD ($)
shares
Mar. 04, 2022
shares
Nov. 09, 2021
shares
Mar. 10, 2015
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Taxes paid related to net share settlement of equity awards $ 6,223,000,000 $ 6,556,000,000 $ 3,634,000,000      
Total unrecognized compensation cost related to RSUs and stock options $ 16,700,000,000          
Total unrecognized compensation cost related to RSUs and stock options, weighted-average recognition period 2 years 7 months 6 days          
Minimum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Employer matching contribution to 401(k) Plan as a percentage of employee's contribution 50.00%          
Maximum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Employer matching contribution to 401(k) Plan as a percentage of employee's contribution 100.00%          
Employer matching contribution to 401(k) Plan as a percentage of employee's eligible earnings 6.00%          
Restricted stock units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Fair value of RSUs as of the respective vesting dates $ 18,200,000,000 $ 19,000,000,000 $ 10,800,000,000      
The total shares withheld upon vesting of RSUs (in shares) | shares 41 53 56      
Taxes paid related to net share settlement of equity awards $ 6,400,000,000 $ 6,800,000,000 $ 3,900,000,000      
Employee Stock Purchase Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares authorized for issuance pursuant to plan awards (in shares) | shares           230
Employee common stock purchases through payroll deductions, price as a percentage of fair market value 85.00%          
Employee Stock Purchase Plan, offering period 6 months          
Payroll deductions as a percentage of employee's eligible compensation, maximum 10.00%          
Employee Stock Purchase Plan, maximum annual purchase amount per employee $ 25,000          
2022 Employee Stock Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares authorized for issuance pursuant to plan awards (in shares) | shares       1,300    
2022 Employee Stock Plan | Restricted stock units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Share-based award, vesting period 4 years          
Number of shares of common stock issued per RSU upon vesting 1          
Factor by which each RSU granted reduces, and each RSU canceled or share withheld for taxes increases, the number of shares available for grant 2          
Non-Employee Director Stock Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares authorized for issuance pursuant to plan awards (in shares) | shares         45  
Non-Employee Director Stock Plan | Restricted stock units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Factor by which each RSU granted reduces, and each RSU canceled or share withheld for taxes increases, the number of shares available for grant 2          
v3.22.2.2
Benefit Plans - Restricted Stock Units Activity and Related Information (Details) - Restricted stock units - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Number of Restricted Stock Units      
Beginning balance (in shares) 240,427 310,778 326,068
RSUs granted (in shares) 91,674 89,363 156,800
RSUs vested (in shares) (115,861) (145,766) (157,743)
RSUs canceled (in shares) (14,739) (13,948) (14,347)
Ending balance (in shares) 201,501 240,427 310,778
Weighted-Average Grant Date Fair Value Per RSU      
Beginning balance (in dollars per share) $ 75.16 $ 51.58 $ 42.30
RSUs granted (in dollars per share) 150.70 116.33 59.20
RSUs vested (in dollars per share) 72.12 50.71 40.29
RSUs canceled (in dollars per share) 99.77 68.95 48.07
Ending balance (in dollars per share) $ 109.48 $ 75.16 $ 51.58
Aggregate Fair Value      
Aggregate fair value of RSUs $ 30,312    
v3.22.2.2
Benefit Plans - Summary of Share-Based Compensation Expense and the Related Income Tax Benefit (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Share-Based Payment Arrangement [Abstract]      
Share-based compensation expense $ 9,038 $ 7,906 $ 6,829
Income tax benefit related to share-based compensation expense $ (4,002) $ (4,056) $ (2,476)
v3.22.2.2
Commitments and Contingencies - Future Payments Under Unconditional Purchase Obligations (Details)
$ in Millions
Sep. 24, 2022
USD ($)
Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract]  
2023 $ 13,488
2024 4,876
2025 1,418
2026 6,780
2027 312
Thereafter 412
Total $ 27,286
v3.22.2.2
Segment Information and Geographic Data - Information by Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Segment Reporting Information [Line Items]      
Net sales $ 394,328 $ 365,817 $ 274,515
Operating income 119,437 108,949 66,288
Americas      
Segment Reporting Information [Line Items]      
Net sales 169,658 153,306 124,556
Operating income 62,683 53,382 37,722
Europe      
Segment Reporting Information [Line Items]      
Net sales 95,118 89,307 68,640
Operating income 35,233 32,505 22,170
Greater China      
Segment Reporting Information [Line Items]      
Net sales 74,200 68,366 40,308
Operating income 31,153 28,504 15,261
Japan      
Segment Reporting Information [Line Items]      
Net sales 25,977 28,482 21,418
Operating income 12,257 12,798 9,279
Rest of Asia Pacific      
Segment Reporting Information [Line Items]      
Net sales 29,375 26,356 19,593
Operating income $ 11,569 $ 9,817 $ 6,808
v3.22.2.2
Segment Information and Geographic Data - Reconciliation of Segment Operating Income to the Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Operating income $ 119,437 $ 108,949 $ 66,288
Research and development expense (26,251) (21,914) (18,752)
Operating segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Operating income 152,895 137,006 91,240
Segment reconciling items      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Research and development expense (26,251) (21,914) (18,752)
Corporate non-segment      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Other corporate expenses, net $ (7,207) $ (6,143) $ (6,200)
v3.22.2.2
Segment Information and Geographic Data - Net Sales (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Sep. 26, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 394,328 $ 365,817 $ 274,515
U.S.      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 147,859 133,803 109,197
China      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 74,200 68,366 40,308
Other countries      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 172,269 $ 163,648 $ 125,010
v3.22.2.2
Segment Information and Geographic Data - Long-Lived Assets (Details) - USD ($)
$ in Millions
Sep. 24, 2022
Sep. 25, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 42,117 $ 39,440
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 31,119 28,203
China    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 7,260 7,521
Other countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 3,738 $ 3,716