APPLE INC., 10-K filed on 10/29/2021
Annual Report
v3.21.2
Cover Page - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Sep. 25, 2021
Oct. 15, 2021
Mar. 26, 2021
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --09-25    
Document Period End Date Sep. 25, 2021    
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     $ 2,021,360
Entity Common Stock, Shares Outstanding (in shares)   16,406,397  
Amendment Flag false    
Document Fiscal Year Focus 2021    
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, $0.00001 par value per share    
Trading Symbol AAPL    
Security Exchange Name NASDAQ    
1.000% Notes due 2022      
Entity Information [Line Items]      
Title of 12(b) Security 1.000% Notes due 2022    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.375% Notes due 2024      
Entity Information [Line Items]      
Title of 12(b) Security 1.375% Notes due 2024    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
0.000% Notes due 2025      
Entity Information [Line Items]      
Title of 12(b) Security 0.000% Notes due 2025    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
0.875% Notes due 2025      
Entity Information [Line Items]      
Title of 12(b) Security 0.875% Notes due 2025    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.625% Notes due 2026      
Entity Information [Line Items]      
Title of 12(b) Security 1.625% Notes due 2026    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
2.000% Notes due 2027      
Entity Information [Line Items]      
Title of 12(b) Security 2.000% Notes due 2027    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.375% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 1.375% Notes due 2029    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
3.050% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 3.050% Notes due 2029    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
0.500% Notes due 2031      
Entity Information [Line Items]      
Title of 12(b) Security 0.500% Notes due 2031    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
3.600% Notes due 2042      
Entity Information [Line Items]      
Title of 12(b) Security 3.600% Notes due 2042    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Net sales $ 365,817 $ 274,515 $ 260,174
Cost of sales 212,981 169,559 161,782
Gross margin 152,836 104,956 98,392
Operating expenses:      
Research and development 21,914 18,752 16,217
Selling, general and administrative 21,973 19,916 18,245
Total operating expenses 43,887 38,668 34,462
Operating income 108,949 66,288 63,930
Other income/(expense), net 258 803 1,807
Income before provision for income taxes 109,207 67,091 65,737
Provision for income taxes 14,527 9,680 10,481
Net income $ 94,680 $ 57,411 $ 55,256
Earnings per share:      
Basic (in dollars per share) $ 5.67 $ 3.31 $ 2.99
Diluted (in dollars per share) $ 5.61 $ 3.28 $ 2.97
Shares used in computing earnings per share:      
Basic (in shares) 16,701,272 17,352,119 18,471,336
Diluted (in shares) 16,864,919 17,528,214 18,595,651
Products      
Net sales $ 297,392 $ 220,747 $ 213,883
Cost of sales 192,266 151,286 144,996
Services      
Net sales 68,425 53,768 46,291
Cost of sales $ 20,715 $ 18,273 $ 16,786
v3.21.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Statement of Comprehensive Income [Abstract]      
Net income $ 94,680 $ 57,411 $ 55,256
Other comprehensive income/(loss):      
Change in foreign currency translation, net of tax 501 88 (408)
Change in unrealized gains/losses on derivative instruments, net of tax:      
Change in fair value of derivative instruments 32 79  
Change in fair value of derivative instruments     (661)
Adjustment for net (gains)/losses realized and included in net income 1,003 (1,264)  
Adjustment for net (gains)/losses realized and included in net income     23
Total change in unrealized gains/losses on derivative instruments 1,035 (1,185)  
Total change in unrealized gains/losses on derivative instruments     (638)
Change in unrealized gains/losses on marketable debt securities, net of tax:      
Change in fair value of marketable debt securities (694) 1,202 3,802
Adjustment for net (gains)/losses realized and included in net income (273) (63) 25
Total change in unrealized gains/losses on marketable debt securities (967) 1,139 3,827
Total other comprehensive income/(loss) 569 42 2,781
Total comprehensive income $ 95,249 $ 57,453 $ 58,037
v3.21.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Current assets:    
Cash and cash equivalents $ 34,940 $ 38,016
Marketable securities 27,699 52,927
Accounts receivable, net 26,278 16,120
Inventories 6,580 4,061
Vendor non-trade receivables 25,228 21,325
Other current assets 14,111 11,264
Total current assets 134,836 143,713
Non-current assets:    
Marketable securities 127,877 100,887
Property, plant and equipment, net 39,440 36,766
Other non-current assets 48,849 42,522
Total non-current assets 216,166 180,175
Total assets 351,002 323,888
Current liabilities:    
Accounts payable 54,763 42,296
Other current liabilities 47,493 42,684
Deferred revenue 7,612 6,643
Commercial paper 6,000 4,996
Term debt 9,613 8,773
Total current liabilities 125,481 105,392
Non-current liabilities:    
Term debt 109,106 98,667
Other non-current liabilities 53,325 54,490
Total non-current liabilities 162,431 153,157
Total liabilities 287,912 258,549
Commitments and contingencies
Shareholders’ equity:    
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,426,786 and 16,976,763 shares issued and outstanding, respectively 57,365 50,779
Retained earnings 5,562 14,966
Accumulated other comprehensive income/(loss) 163 (406)
Total shareholders’ equity 63,090 65,339
Total liabilities and shareholders’ equity $ 351,002 $ 323,888
v3.21.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Sep. 25, 2021
Sep. 26, 2020
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) 16,426,786,000 16,976,763,000
Common stock, shares outstanding (in shares) 16,426,786,000 16,976,763,000
v3.21.2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common stock and additional paid-in capital
Retained earnings
Retained earnings
Cumulative effects of changes in accounting principles
Accumulated other comprehensive income/(loss)
Accumulated other comprehensive income/(loss)
Cumulative effects of changes in accounting principles
Beginning balances at Sep. 29, 2018 $ 107,147 $ 40,201 $ 70,400 $ 2,501 $ (3,454) $ 89
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Common stock issued   781        
Common stock withheld related to net share settlement of equity awards   (2,002) (1,029)      
Share-based compensation   6,194        
Net income 55,256   55,256      
Dividends and dividend equivalents declared     (14,129)      
Common stock repurchased     (67,101)      
Other comprehensive income/(loss) 2,781       2,781  
Ending balances at Sep. 28, 2019 $ 90,488 45,174 45,898 (136) (584) 136
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.75          
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 (85,500)   (85,502)      
Other comprehensive income/(loss) 569       569  
Ending balances at Sep. 25, 2021 $ 63,090 $ 57,365 $ 5,562   $ 163  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.85          
v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Statement of Cash Flows [Abstract]      
Cash, cash equivalents and restricted cash, beginning balances $ 39,789 $ 50,224 $ 25,913
Operating activities:      
Net income 94,680 57,411 55,256
Adjustments to reconcile net income to cash generated by operating activities:      
Depreciation and amortization 11,284 11,056 12,547
Share-based compensation expense 7,906 6,829 6,068
Deferred income tax benefit (4,774) (215) (340)
Other (147) (97) (652)
Changes in operating assets and liabilities:      
Accounts receivable, net (10,125) 6,917 245
Inventories (2,642) (127) (289)
Vendor non-trade receivables (3,903) 1,553 2,931
Other current and non-current assets (8,042) (9,588) 873
Accounts payable 12,326 (4,062) (1,923)
Deferred revenue 1,676 2,081 (625)
Other current and non-current liabilities 5,799 8,916 (4,700)
Cash generated by operating activities 104,038 80,674 69,391
Investing activities:      
Purchases of marketable securities (109,558) (114,938) (39,630)
Proceeds from maturities of marketable securities 59,023 69,918 40,102
Proceeds from sales of marketable securities 47,460 50,473 56,988
Payments for acquisition of property, plant and equipment (11,085) (7,309) (10,495)
Payments made in connection with business acquisitions, net (33) (1,524) (624)
Purchases of non-marketable securities (131) (210) (1,001)
Proceeds from non-marketable securities 387 92 1,634
Other (608) (791) (1,078)
Cash generated by/(used in) investing activities (14,545) (4,289) 45,896
Financing activities:      
Proceeds from issuance of common stock 1,105 880 781
Payments for taxes related to net share settlement of equity awards (6,556) (3,634) (2,817)
Payments for dividends and dividend equivalents (14,467) (14,081) (14,119)
Repurchases of common stock (85,971) (72,358) (66,897)
Proceeds from issuance of term debt, net 20,393 16,091 6,963
Repayments of term debt (8,750) (12,629) (8,805)
Proceeds from/(Repayments of) commercial paper, net 1,022 (963) (5,977)
Other (129) (126) (105)
Cash used in financing activities (93,353) (86,820) (90,976)
Increase/(Decrease) in cash, cash equivalents and restricted cash (3,860) (10,435) 24,311
Cash, cash equivalents and restricted cash, ending balances 35,929 39,789 50,224
Supplemental cash flow disclosure:      
Cash paid for income taxes, net 25,385 9,501 15,263
Cash paid for interest $ 2,687 $ 3,002 $ 3,423
v3.21.2
Summary of Significant Accounting Policies
 12 Months Ended
Sep. 25, 2021
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. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. 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. The Company’s fiscal years 2021, 2020 and 2019 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.
Recently Adopted Accounting Pronouncements
Financial Instruments – Credit Losses
At the beginning of the first quarter of 2021, the Company adopted the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit losses on certain financial instruments. The Company adopted ASU 2016-13 utilizing the modified retrospective transition method. The adoption of ASU 2016-13 did not have a material impact on the Company’s condensed consolidated financial statements.
Advertising Costs
Advertising costs are expensed as incurred and included in selling, general and administrative expenses.
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 2021, 2020 and 2019 (net income in millions and shares in thousands):
202120202019
Numerator:
Net income
$94,680 $57,411 $55,256 
Denominator:
Weighted-average basic shares outstanding
16,701,272 17,352,119 18,471,336 
Effect of dilutive securities
163,647 176,095 124,315 
Weighted-average diluted shares
16,864,919 17,528,214 18,595,651 
Basic earnings per share
$5.67 $3.31 $2.99 
Diluted earnings per share
$5.61 $3.28 $2.97 
The Company applies the treasury stock method to determine the dilutive effect of potentially dilutive securities. Potentially dilutive securities representing 62 million shares of common stock were excluded from the computation of diluted earnings per share for 2019 because their effect would have been antidilutive.
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. Unrealized gains and losses on marketable debt securities classified as available-for-sale are recognized in other comprehensive income/(loss) (“OCI”).
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 Company’s marketable equity securities are measured at fair value with gains and losses recognized in other income/(expense), net (“OI&E”).
The cost of securities sold is determined using the specific identification method.
Inventories
Inventories are measured using the first-in, first-out method.
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 lesser of 40 years or the remaining life of the building; between one and five years for machinery and equipment, including product tooling and manufacturing process equipment; and the shorter of 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 and equipment was $9.5 billion, $9.7 billion and $11.3 billion during 2021, 2020 and 2019, respectively.
Noncash investing activities involving property, plant and equipment resulted in a net decrease to accounts payable and other current liabilities of $2.9 billion during 2019.
Restricted Cash and Restricted Marketable Securities
The Company considers cash and marketable securities to be restricted when withdrawal or general use is legally restricted. The Company reports restricted cash as other assets in the Consolidated Balance Sheets, and determines current or non-current classification based on the expected duration of the restriction. 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.
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 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 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.
v3.21.2
Revenue Recognition
 12 Months Ended
Sep. 25, 2021
Revenue from Contract with Customer [Abstract]  
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 has elected not to 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, but not limited to, 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 has elected to record 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.
Deferred Revenue
As of September 25, 2021 and September 26, 2020, the Company had total deferred revenue of $11.9 billion and $10.2 billion, respectively. As of September 25, 2021, the Company expects 64% of total deferred revenue to be realized in less than a year, 26% within one-to-two years, 8% within two-to-three years and 2% in greater than three years.
Disaggregated Revenue
Net sales disaggregated by significant products and services for 2021, 2020 and 2019 were as follows (in millions):
202120202019
iPhone (1)
$191,973 $137,781 $142,381 
Mac (1)
35,190 28,622 25,740 
iPad (1)
31,862 23,724 21,280 
Wearables, Home and Accessories (1)(2)
38,367 30,620 24,482 
Services (3)
68,425 53,768 46,291 
Total net sales (4)
$365,817 $274,515 $260,174 
(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, iPod touch 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 $6.7 billion of revenue recognized in 2021 that was included in deferred revenue as of September 26, 2020, $5.0 billion of revenue recognized in 2020 that was included in deferred revenue as of September 28, 2019, and $5.9 billion of revenue recognized in 2019 that was included in deferred revenue as of September 29, 2018.
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 2021, 2020 and 2019.
v3.21.2
Financial Instruments
 12 Months Ended
Sep. 25, 2021
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 25, 2021 and September 26, 2020 (in millions):
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 securities8,949 2 (64)8,887 1,775 1,930 5,182 
Non-U.S. government securities20,201 211 (101)20,311 390 3,091 16,830 
Certificates of deposit and time deposits
1,300 — — 1,300 490 810 — 
Commercial paper2,639 — — 2,639 1,776 863 — 
Corporate debt securities83,883 1,242 (267)84,858 — 12,327 72,531 
Municipal securities967 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 
2020
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$17,773 $— $— $17,773 $17,773 $— $— 
Level 1 (1): Money market funds
2,171 — — 2,171 2,171 — — 
Level 2 (2):
U.S. Treasury securities28,439 331 — 28,770 8,580 11,972 8,218 
U.S. agency securities
8,604 8 — 8,612 2,009 3,078 3,525 
Non-U.S. government securities
19,361 275 (186)19,450 255 3,329 15,866 
Certificates of deposit and time deposits
10,399 — — 10,399 4,043 6,246 110 
Commercial paper
11,226 — — 11,226 3,185 8,041 — 
Corporate debt securities
76,937 1,834 (175)78,596 — 19,687 58,909 
Municipal securities
1,001 22 — 1,023 — 139 884 
Mortgage- and asset-backed securities
13,520 314 (24)13,810 — 435 13,375 
Subtotal169,487 2,784 (385)171,886 18,072 52,927 100,887 
Total (3)
$189,431 $2,784 $(385)$191,830 $38,016 $52,927 $100,887 
(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 25, 2021 and September 26, 2020, total marketable securities included $17.9 billion and $18.6 billion, respectively, that was restricted from general use, related to the State Aid Decision (refer to Note 5, “Income Taxes”) and other agreements.
The Company may sell certain of its marketable debt securities prior to their stated maturities for reasons including, but not limited to, managing liquidity, credit risk, duration and asset allocation. The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of September 25, 2021 (in millions):
Due after 1 year through 5 years$83,755 
Due after 5 years through 10 years23,915 
Due after 10 years20,207 
Total fair value$127,877 
The Company typically invests in highly rated securities, with the primary objective of minimizing the potential risk of principal loss. The Company’s investment policy generally requires securities to be investment grade and limits the amount of credit exposure to any one issuer. Fair values were determined for each individual security in the investment portfolio.
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, but not limited to, 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 25, 2021, the Company’s hedged term debt– and marketable securities–related foreign currency transactions are expected to be recognized within 21 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 25, 2021 and September 26, 2020 were as follows (in millions):
20212020
Derivative instruments designated as accounting hedges:
Foreign exchange contracts
$76,475 $57,410 
Interest rate contracts
$16,875 $20,700 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts
$126,918 $88,636 
The gross fair values of the Company’s derivative assets and liabilities were not material as of September 25, 2021 and September 26, 2020.
The gains and losses recognized in OCI and amounts reclassified from AOCI to net income for the Company’s derivative instruments designated as cash flow hedges were not material in 2021, 2020 and 2019.
The carrying amounts of the Company’s hedged items in fair value hedges as of September 25, 2021 and September 26, 2020 were as follows (in millions):
20212020
Hedged assets/(liabilities):
Current and non-current marketable securities$15,954 $16,270 
Current and non-current term debt$(17,857)$(21,033)
The gains and losses on the Company’s derivative instruments designated as fair value hedges and the related hedged item adjustments were not material in 2021, 2020 and 2019.
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 both September 25, 2021 and September 26, 2020, the Company had no customers that individually represented 10% or more of total trade receivables. The Company’s cellular network carriers accounted for 42% of total trade receivables as of September 25, 2021.
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 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%. As of September 26, 2020, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 57% and 11%.
v3.21.2
Consolidated Financial Statement Details
 12 Months Ended
Sep. 25, 2021
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 25, 2021 and September 26, 2020 (in millions):
Property, Plant and Equipment, Net
20212020
Land and buildings
$20,041 $17,952 
Machinery, equipment and internal-use software
78,659 75,291 
Leasehold improvements
11,023 10,283 
Gross property, plant and equipment
109,723 103,526 
Accumulated depreciation and amortization
(70,283)(66,760)
Total property, plant and equipment, net
$39,440 $36,766 
Other Non-Current Liabilities
20212020
Long-term taxes payable$24,689 $28,170 
Other non-current liabilities
28,636 26,320 
Total other non-current liabilities
$53,325 $54,490 
Other Income/(Expense), Net
The following table shows the detail of OI&E for 2021, 2020 and 2019 (in millions):
202120202019
Interest and dividend income
$2,843 $3,763 $4,961 
Interest expense
(2,645)(2,873)(3,576)
Other income/(expense), net60 (87)422 
Total other income/(expense), net
$258 $803 $1,807 
v3.21.2
Income Taxes
 12 Months Ended
Sep. 25, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Provision for Income Taxes and Effective Tax Rate
The provision for income taxes for 2021, 2020 and 2019, consisted of the following (in millions):
202120202019
Federal:
Current
$8,257 $6,306 $6,384 
Deferred
(7,176)(3,619)(2,939)
Total
1,081 2,687 3,445 
State:
Current
1,620 455 475 
Deferred
(338)21 (67)
Total
1,282 476 408 
Foreign:
Current
9,424 3,134 3,962 
Deferred
2,740 3,383 2,666 
Total
12,164 6,517 6,628 
Provision for income taxes
$14,527 $9,680 $10,481 
The foreign provision for income taxes is based on foreign pretax earnings of $68.7 billion, $38.1 billion and $44.3 billion in 2021, 2020 and 2019, respectively.
A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate (21% in 2021, 2020 and 2019) to income before provision for income taxes for 2021, 2020 and 2019, is as follows (dollars in millions):
202120202019
Computed expected tax
$22,933 $14,089 $13,805 
State taxes, net of federal effect
1,151 423 423 
Impacts of the U.S. Tax Cuts and Jobs Act of 2017— (582)— 
Earnings of foreign subsidiaries(4,715)(2,534)(2,625)
Foreign-derived intangible income deduction(1,372)(169)(149)
Research and development credit, net
(1,033)(728)(548)
Excess tax benefits from equity awards
(2,137)(930)(639)
Other
(300)111 214 
Provision for income taxes
$14,527 $9,680 $10,481 
Effective tax rate
13.3 %14.4 %15.9 %
Deferred Tax Assets and Liabilities
As of September 25, 2021 and September 26, 2020, the significant components of the Company’s deferred tax assets and liabilities were (in millions):
20212020
Deferred tax assets:
Amortization and depreciation
$5,575 $8,317 
Accrued liabilities and other reserves
5,895 4,934 
Lease liabilities2,406 2,038 
Deferred revenue5,399 1,638 
Tax credit carryforwards4,262 797 
Other1,639 1,612 
Total deferred tax assets25,176 19,336 
Less: Valuation allowance(4,903)(1,041)
Total deferred tax assets, net
20,273 18,295 
Deferred tax liabilities:
Minimum tax on foreign earnings
4,318 7,045 
Right-of-use assets2,167 1,862 
Unrealized gains203 526 
Other
512 705 
Total deferred tax liabilities
7,200 10,138 
Net deferred tax assets$13,073 $8,157 
Deferred tax assets and liabilities reflect the effects of tax credits and the future income tax effects of temporary differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and are measured using enacted tax rates that apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company has elected to record 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”).
As of September 25, 2021, the Company had $2.6 billion in foreign tax credit carryforwards in Ireland and $1.6 billion in California research and development credit carryforwards, both of which can be carried forward indefinitely. A valuation allowance has been recorded for the tax credit carryforwards and a portion of other temporary differences.
Uncertain Tax Positions
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 impact the Company’s effective tax rate. As of September 26, 2020, the total amount of gross unrecognized tax benefits was $16.5 billion, of which $8.8 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 2021, 2020 and 2019, is as follows (in millions):
202120202019
Beginning balances
$16,475 $15,619 $9,694 
Increases related to tax positions taken during a prior year
816 454 5,845 
Decreases related to tax positions taken during a prior year
(1,402)(791)(686)
Increases related to tax positions taken during the current year
1,607 1,347 1,697 
Decreases related to settlements with taxing authorities
(1,838)(85)(852)
Decreases related to expiration of the statute of limitations
(181)(69)(79)
Ending balances
$15,477 $16,475 $15,619 
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 2015 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 $1.2 billion.
Interest and Penalties
The Company includes interest and penalties related to income tax matters within the provision for income taxes. As of September 25, 2021 and September 26, 2020, the total amount of gross interest and penalties accrued was $1.5 billion and $1.4 billion, respectively. The Company recognized interest and penalty expense of $219 million, $85 million and $73 million in 2021, 2020 and 2019, respectively.
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 25, 2021, 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.
v3.21.2
Leases
 12 Months Ended
Sep. 25, 2021
Leases [Abstract]  
Leases Leases
The Company has lease arrangements for certain equipment and facilities, including retail, corporate, manufacturing and data center 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. The Company’s lease arrangements may contain both lease and nonlease components. The Company has elected to combine and account for lease and nonlease components as a single lease component for leases of retail, corporate, and data center facilities.
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 $1.7 billion and $1.5 billion for 2021 and 2020, respectively. Lease costs associated with variable payments on the Company’s leases were $12.9 billion and $9.3 billion for 2021 and 2020, respectively. Rent expense for operating leases, as previously reported under former lease accounting standards, was $1.3 billion in 2019.
The Company made $1.4 billion and $1.5 billion of fixed cash payments related to operating leases in 2021 and 2020, respectively. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $3.3 billion for 2021 and $10.5 billion for 2020, including the impact of adopting FASB ASU 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 25, 2021 and September 26, 2020 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20212020
Right-of-use assets:
Operating leasesOther non-current assets$10,087 $8,570 
Finance leasesProperty, plant and equipment, net861 629 
Total right-of-use assets$10,948 $9,199 
Lease liabilities:
Operating leasesOther current liabilities$1,449 $1,436 
Other non-current liabilities9,506 7,745 
Finance leasesOther current liabilities79 24 
Other non-current liabilities769 637 
Total lease liabilities$11,803 $9,842 
Lease liability maturities as of September 25, 2021, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2022$1,629 $104 $1,733 
20231,560 123 1,683 
20241,499 99 1,598 
20251,251 46 1,297 
20261,061 26 1,087 
Thereafter5,187 868 6,055 
Total undiscounted liabilities12,187 1,266 13,453 
Less: Imputed interest(1,232)(418)(1,650)
Total lease liabilities$10,955 $848 $11,803 
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 25, 2021 and September 26, 2020 was 10.8 years and 10.3 years, respectively.
The discount rate related to the Company’s lease liabilities as of both September 25, 2021 and September 26, 2020 was 2.0%. The discount rates 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.
As of September 25, 2021, the Company had $1.1 billion of future payments under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases will commence between 2022 and 2023, with lease terms ranging from 3 years to 20 years.
Leases Leases
The Company has lease arrangements for certain equipment and facilities, including retail, corporate, manufacturing and data center 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. The Company’s lease arrangements may contain both lease and nonlease components. The Company has elected to combine and account for lease and nonlease components as a single lease component for leases of retail, corporate, and data center facilities.
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 $1.7 billion and $1.5 billion for 2021 and 2020, respectively. Lease costs associated with variable payments on the Company’s leases were $12.9 billion and $9.3 billion for 2021 and 2020, respectively. Rent expense for operating leases, as previously reported under former lease accounting standards, was $1.3 billion in 2019.
The Company made $1.4 billion and $1.5 billion of fixed cash payments related to operating leases in 2021 and 2020, respectively. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $3.3 billion for 2021 and $10.5 billion for 2020, including the impact of adopting FASB ASU 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 25, 2021 and September 26, 2020 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20212020
Right-of-use assets:
Operating leasesOther non-current assets$10,087 $8,570 
Finance leasesProperty, plant and equipment, net861 629 
Total right-of-use assets$10,948 $9,199 
Lease liabilities:
Operating leasesOther current liabilities$1,449 $1,436 
Other non-current liabilities9,506 7,745 
Finance leasesOther current liabilities79 24 
Other non-current liabilities769 637 
Total lease liabilities$11,803 $9,842 
Lease liability maturities as of September 25, 2021, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2022$1,629 $104 $1,733 
20231,560 123 1,683 
20241,499 99 1,598 
20251,251 46 1,297 
20261,061 26 1,087 
Thereafter5,187 868 6,055 
Total undiscounted liabilities12,187 1,266 13,453 
Less: Imputed interest(1,232)(418)(1,650)
Total lease liabilities$10,955 $848 $11,803 
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 25, 2021 and September 26, 2020 was 10.8 years and 10.3 years, respectively.
The discount rate related to the Company’s lease liabilities as of both September 25, 2021 and September 26, 2020 was 2.0%. The discount rates 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.
As of September 25, 2021, the Company had $1.1 billion of future payments under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases will commence between 2022 and 2023, with lease terms ranging from 3 years to 20 years.
v3.21.2
Debt
 12 Months Ended
Sep. 25, 2021
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 25, 2021 and September 26, 2020, the Company had $6.0 billion and $5.0 billion of Commercial Paper outstanding, respectively, with maturities generally less than nine months. The weighted-average interest rate of the Company’s Commercial Paper was 0.06% and 0.62% as of September 25, 2021 and September 26, 2020, respectively. The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for 2021, 2020 and 2019 (in millions):
202120202019
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net$(357)$100 $(3,248)
Maturities greater than 90 days:
Proceeds from commercial paper
7,946 6,185 13,874 
Repayments of commercial paper
(6,567)(7,248)(16,603)
Proceeds from/(Repayments of) commercial paper, net1,379 (1,063)(2,729)
Total proceeds from/(repayments of) commercial paper, net$1,022 $(963)$(5,977)
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
As of September 25, 2021, the Company had outstanding floating- and fixed-rate notes with varying maturities for an aggregate principal amount of $118.1 billion (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 25, 2021 and September 26, 2020:
Maturities
(calendar year)
20212020
Amount
(in millions)
Effective
Interest Rate
Amount
(in millions)
Effective
Interest Rate
2013 – 2020 debt issuances:
Floating-rate notes
 2022
$1,750 
0.48% – 0.63%
$2,250 
0.60% – 1.39%
Fixed-rate 0.000% – 4.650% notes
2022 – 2060
95,813 
0.03% – 4.78%
103,828 
0.03% – 4.78%
Second quarter 2021 debt issuance:
Fixed-rate 0.700% – 2.800% notes
2026 – 2061
14,000 
0.75% – 2.81%
— — %
Fourth quarter 2021 debt issuance:
Fixed-rate 1.400% – 2.850% notes
2028 – 2061
6,500 
1.43% – 2.86%
— — %
Total term debt118,063 106,078 
Unamortized premium/(discount) and issuance costs, net
(380)(314)
Hedge accounting fair value adjustments1,036 1,676 
Less: Current portion of term debt(9,613)(8,773)
Total non-current portion of term debt$109,106 $98,667 
To manage interest rate risk on certain of its U.S. dollar–denominated fixed- or floating-rate notes, the Company has entered into interest rate swaps to effectively convert the fixed interest rates to floating interest rates or the floating interest rates to fixed 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 $2.6 billion, $2.8 billion and $3.2 billion of interest expense on its term debt for 2021, 2020 and 2019, respectively.
The future principal payments for the Company’s Notes as of September 25, 2021, are as follows (in millions):
2022$9,583 
202311,391 
202410,202 
202510,914 
202611,408 
Thereafter64,565 
Total term debt$118,063 
As of September 25, 2021 and September 26, 2020, the fair value of the Company’s Notes, based on Level 2 inputs, was $125.3 billion and $117.1 billion, respectively.
v3.21.2
Shareholders' Equity
 12 Months Ended
Sep. 25, 2021
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
As of September 25, 2021, the Company was authorized to purchase up to $315 billion of the Company’s common stock under a share repurchase program (the “Program”). During 2021, the Company repurchased 656 million shares of its common stock for $85.5 billion, including 36 million shares delivered under a $5.0 billion accelerated share repurchase agreement entered into in May 2021, bringing the total utilization under the Program to $254.1 billion as of September 25, 2021. The Program does not obligate the Company to acquire any specific number 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 (the “Exchange Act”).
Shares of Common Stock
The following table shows the changes in shares of common stock for 2021, 2020 and 2019 (in thousands):
202120202019
Common stock outstanding, beginning balances
16,976,763 17,772,945 19,019,943 
Common stock repurchased
(656,340)(917,270)(1,380,819)
Common stock issued, net of shares withheld for employee taxes
106,363 121,088 133,821 
Common stock outstanding, ending balances
16,426,786 16,976,763 17,772,945 
v3.21.2
Benefit Plans
 12 Months Ended
Sep. 25, 2021
Share-based Payment Arrangement [Abstract]  
Benefit Plans Benefit Plans
2014 Employee Stock Plan
The 2014 Employee Stock Plan (the “2014 Plan”) is a shareholder-approved plan that 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, as well as cash bonus awards. RSUs granted under the 2014 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 2014 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 2014 Plan utilizing a factor of two times the number of RSUs canceled or shares withheld. All RSUs granted under the 2014 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. As of September 25, 2021, approximately 760 million shares were reserved for future issuance under the 2014 Plan. Shares subject to outstanding awards under the 2003 Employee Stock Plan that expire, are canceled or otherwise terminate, or are withheld to satisfy tax withholding obligations for RSUs, will also be available for 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. As of September 25, 2021, approximately 4 million shares were reserved for future issuance under the Director Plan.
Rule 10b5-1 Trading Plans
During the three months ended September 25, 2021, Section 16 officers Katherine L. Adams, Timothy D. Cook, Luca Maestri, Deirdre O’Brien and Jeffrey Williams had equity trading plans in place in accordance with Rule 10b5-1(c)(1) under the Exchange Act. An equity trading plan is a written document that preestablishes the amounts, prices and dates (or formula for determining the amounts, prices and dates) of future purchases or sales of the Company’s stock, including shares acquired under the Company’s employee and director equity plans.
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 compensation and employees may not purchase more than $25,000 of stock during any calendar year. As of September 25, 2021, approximately 96 million shares were reserved for future issuance under the Purchase Plan.
401(k) Plan
The Company’s 401(k) Plan is a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Under the 401(k) Plan, participating U.S. employees may defer a portion of their pretax earnings, up to the U.S. Internal Revenue Service annual contribution limit ($19,500 for calendar year 2021). 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 2021, 2020 and 2019, 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 29, 2018368,618 $33.65 
RSUs granted
147,409 $53.99 
RSUs vested
(168,350)$33.80 
RSUs canceled
(21,609)$40.71 
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 $35,324 
The fair value as of the respective vesting dates of RSUs was $19.0 billion, $10.8 billion and $8.6 billion for 2021, 2020 and 2019, respectively. The majority of RSUs that vested in 2021, 2020 and 2019 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 53 million, 56 million and 59 million for 2021, 2020 and 2019, 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 for the employees’ tax obligations to taxing authorities were $6.8 billion, $3.9 billion and $3.0 billion in 2021, 2020 and 2019, 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 2021, 2020 and 2019 (in millions):
202120202019
Share-based compensation expense$7,906 $6,829 $6,068 
Income tax benefit related to share-based compensation expense
$(4,056)$(2,476)$(1,967)
As of September 25, 2021, the total unrecognized compensation cost related to outstanding RSUs and stock options was $13.6 billion, which the Company expects to recognize over a weighted-average period of 2.5 years.
v3.21.2
Commitments and Contingencies
 12 Months Ended
Sep. 25, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Accrued Warranty and Guarantees
The following table shows changes in the Company’s accrued warranties and related costs for 2021, 2020 and 2019 (in millions):
202120202019
Beginning accrued warranty and related costs
$3,354 $3,570 $3,692 
Cost of warranty claims
(2,674)(2,956)(3,857)
Accruals for product warranty
2,684 2,740 3,735 
Ending accrued warranty and related costs
$3,364 $3,354 $3,570 
The Company offers an iPhone Upgrade Program, which is available to customers who purchase a qualifying iPhone in the U.S., the U.K. and China mainland. The iPhone Upgrade Program provides customers the right to trade in that iPhone for a specified amount when purchasing a new iPhone, provided certain conditions are met. The Company accounts for the trade-in right as a guarantee liability and recognizes arrangement revenue net of the fair value of such right, with subsequent changes to the guarantee liability recognized within net sales.
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.
The Company has entered into agreements for the supply of many components; however, there can be no guarantee that the Company will be able to extend or renew these agreements on similar terms, or at all.
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 content creation, Internet and telecommunications services and supplier arrangements. Future payments under noncancelable unconditional purchase obligations having a remaining term in excess of one year as of September 25, 2021, are as follows (in millions):
2022$4,551 
20232,165 
2024984 
2025405 
202651 
Thereafter28 
Total$8,184 
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. When a loss related to a legal proceeding or claim is probable and reasonably estimable, the Company accrues its best estimate for the ultimate resolution of the matter. If one or more legal matters were resolved against the Company in a reporting period for amounts above management’s expectations, the Company’s financial condition and operating results for that reporting period could be materially adversely affected. 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, except for the following matters:
VirnetX
VirnetX, Inc. (“VirnetX”) filed a lawsuit against the Company alleging that certain of the Company’s products infringe on patents owned by VirnetX. On April 11, 2018, a jury returned a verdict against the Company in the U.S. District Court for the Eastern District of Texas (the “Eastern Texas District Court”). The Company appealed the verdict to the U.S. Court of Appeals for the Federal Circuit, which remanded the case back to the Eastern Texas District Court, where a retrial was held in October 2020. The jury returned a verdict against the Company and awarded damages of $503 million, which the Company has appealed. The Company has challenged the validity of the patents at issue in the retrial at the U.S. Patent and Trademark Office (the “PTO”), and the PTO has declared the patents invalid, subject to further appeal by VirnetX.
iOS Performance Management Cases
On April 5, 2018, several U.S. federal actions alleging violation of consumer protection laws, fraud, computer intrusion and other causes of action related to the Company’s performance management feature used in its iPhone operating systems, introduced to certain iPhones in iOS updates 10.2.1 and 11.2, were consolidated through a Multidistrict Litigation process into a single action in the U.S. District Court for the Northern District of California (the “Northern California District Court”). On February 28, 2020, the parties in the Multidistrict Litigation reached a settlement to resolve the U.S. federal and California state class actions. On March 18, 2021, the Northern California District Court granted final approval of the Multidistrict Litigation settlement, which will result in an aggregate payment of $310 million to settle all claims. The Company continues to believe that its iPhones were not defective, that the performance management feature introduced with iOS updates 10.2.1 and 11.2 was intended to, and did, improve customers’ user experience, and that the Company did not make any misleading statements or fail to disclose any material information.
French Competition Authority
On March 16, 2020, the French Competition Authority (“FCA”) announced its decision that aspects of the Company’s sales and distribution practices in France violate French competition law, and issued a fine of €1.1 billion. The Company strongly disagrees with the FCA’s decision, and has appealed.
Optis
Optis Wireless Technology, LLC and related entities (“Optis”) filed a lawsuit in the U.S. District Court for the Eastern District of Texas against the Company alleging that certain of the Company’s products infringe on patents owned by Optis. On August 11, 2020, a jury returned a verdict against the Company and awarded damages. In post-trial proceedings, the damages portion of the verdict was set aside. A retrial on damages was held in August 2021 and the jury in that proceeding awarded damages of $300 million against the Company, which the Company plans to appeal.
v3.21.2
Segment Information and Geographic Data
 12 Months Ended
Sep. 25, 2021
Segment Reporting [Abstract]  
Segment Information and Geographic Data Segment Information and Geographic Data
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 in 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, 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.
The following table shows information by reportable segment for 2021, 2020 and 2019 (in millions):
202120202019
Americas:
Net sales
$153,306 $124,556 $116,914 
Operating income
$53,382 $37,722 $35,099 
Europe:
Net sales
$89,307 $68,640 $60,288 
Operating income
$32,505 $22,170 $19,195 
Greater China:
Net sales
$68,366 $40,308 $43,678 
Operating income
$28,504 $15,261 $16,232 
Japan:
Net sales
$28,482 $21,418 $21,506 
Operating income
$12,798 $9,279 $9,369 
Rest of Asia Pacific:
Net sales
$26,356 $19,593 $17,788 
Operating income
$9,817 $6,808 $6,055 
A reconciliation of the Company’s segment operating income to the Consolidated Statements of Operations for 2021, 2020 and 2019 is as follows (in millions):
202120202019
Segment operating income
$137,006 $91,240 $85,950 
Research and development expense
(21,914)(18,752)(16,217)
Other corporate expenses, net
(6,143)(6,200)(5,803)
Total operating income
$108,949 $66,288 $63,930 
The U.S. and China were the only countries that accounted for more than 10% of the Company’s net sales in 2021, 2020 and 2019. There was no single customer that accounted for more than 10% of net sales in 2021, 2020 and 2019. Net sales for 2021, 2020 and 2019 and long-lived assets as of September 25, 2021 and September 26, 2020 were as follows (in millions):
202120202019
Net sales:
U.S.$133,803 $109,197 $102,266 
China (1)
68,366 40,308 43,678 
Other countries
163,648 125,010 114,230 
Total net sales
$365,817 $274,515 $260,174 
20212020
Long-lived assets:
U.S.$28,203 $25,890 
China (1)
7,521 7,256 
Other countries
3,716 3,620 
Total long-lived assets
$39,440 $36,766 
(1)China includes Hong Kong and Taiwan. Long-lived assets located in China consist primarily of product tooling and manufacturing process equipment and assets related to retail stores and related infrastructure.
v3.21.2
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Sep. 25, 2021
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. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. 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. The Company’s fiscal years 2021, 2020 and 2019 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.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements
Financial Instruments – Credit Losses
At the beginning of the first quarter of 2021, the Company adopted the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit losses on certain financial instruments. The Company adopted ASU 2016-13 utilizing the modified retrospective transition method. The adoption of ASU 2016-13 did not have a material impact on the Company’s condensed consolidated financial statements.
Advertising Costs
Advertising Costs
Advertising costs are expensed as incurred and included in selling, general and administrative expenses.
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. Unrealized gains and losses on marketable debt securities classified as available-for-sale are recognized in other comprehensive income/(loss) (“OCI”).
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 Company’s marketable equity securities are measured at fair value with gains and losses recognized in other income/(expense), net (“OI&E”).
The cost of securities sold is determined using the specific identification method.
Inventories
Inventories
Inventories are measured using the first-in, first-out method.
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 lesser of 40 years or the remaining life of the building; between one and five years for machinery and equipment, including product tooling and manufacturing process equipment; and the shorter of 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.
Restricted Cash and Restricted Marketable Securities
Restricted Cash and Restricted Marketable Securities
The Company considers cash and marketable securities to be restricted when withdrawal or general use is legally restricted. The Company reports restricted cash as other assets in the Consolidated Balance Sheets, and determines current or non-current classification based on the expected duration of the restriction. 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.
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 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 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.
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 has elected not to 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, but not limited to, 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 has elected to record 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.
Income Taxes The Company has elected to record 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”).The Company includes interest and penalties related to income tax matters within the provision for income taxes.
Leases The Company’s lease arrangements may contain both lease and nonlease components. The Company has elected to combine and account for lease and nonlease components as a single lease component for leases of retail, corporate, and data center facilities.
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 in 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, 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.
v3.21.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 25, 2021
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 2021, 2020 and 2019 (net income in millions and shares in thousands):
202120202019
Numerator:
Net income
$94,680 $57,411 $55,256 
Denominator:
Weighted-average basic shares outstanding
16,701,272 17,352,119 18,471,336 
Effect of dilutive securities
163,647 176,095 124,315 
Weighted-average diluted shares
16,864,919 17,528,214 18,595,651 
Basic earnings per share
$5.67 $3.31 $2.99 
Diluted earnings per share
$5.61 $3.28 $2.97 
v3.21.2
Revenue Recognition (Tables)
 12 Months Ended
Sep. 25, 2021
Revenue from Contract with Customer [Abstract]  
Net Sales Disaggregated by Significant Products and Services
Net sales disaggregated by significant products and services for 2021, 2020 and 2019 were as follows (in millions):
202120202019
iPhone (1)
$191,973 $137,781 $142,381 
Mac (1)
35,190 28,622 25,740 
iPad (1)
31,862 23,724 21,280 
Wearables, Home and Accessories (1)(2)
38,367 30,620 24,482 
Services (3)
68,425 53,768 46,291 
Total net sales (4)
$365,817 $274,515 $260,174 
(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, iPod touch 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 $6.7 billion of revenue recognized in 2021 that was included in deferred revenue as of September 26, 2020, $5.0 billion of revenue recognized in 2020 that was included in deferred revenue as of September 28, 2019, and $5.9 billion of revenue recognized in 2019 that was included in deferred revenue as of September 29, 2018.
v3.21.2
Financial Instruments (Tables)
 12 Months Ended
Sep. 25, 2021
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 25, 2021 and September 26, 2020 (in millions):
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 securities8,949 2 (64)8,887 1,775 1,930 5,182 
Non-U.S. government securities20,201 211 (101)20,311 390 3,091 16,830 
Certificates of deposit and time deposits
1,300 — — 1,300 490 810 — 
Commercial paper2,639 — — 2,639 1,776 863 — 
Corporate debt securities83,883 1,242 (267)84,858 — 12,327 72,531 
Municipal securities967 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 
2020
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash
$17,773 $— $— $17,773 $17,773 $— $— 
Level 1 (1): Money market funds
2,171 — — 2,171 2,171 — — 
Level 2 (2):
U.S. Treasury securities28,439 331 — 28,770 8,580 11,972 8,218 
U.S. agency securities
8,604 8 — 8,612 2,009 3,078 3,525 
Non-U.S. government securities
19,361 275 (186)19,450 255 3,329 15,866 
Certificates of deposit and time deposits
10,399 — — 10,399 4,043 6,246 110 
Commercial paper
11,226 — — 11,226 3,185 8,041 — 
Corporate debt securities
76,937 1,834 (175)78,596 — 19,687 58,909 
Municipal securities
1,001 22 — 1,023 — 139 884 
Mortgage- and asset-backed securities
13,520 314 (24)13,810 — 435 13,375 
Subtotal169,487 2,784 (385)171,886 18,072 52,927 100,887 
Total (3)
$189,431 $2,784 $(385)$191,830 $38,016 $52,927 $100,887 
(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 25, 2021 and September 26, 2020, total marketable securities included $17.9 billion and $18.6 billion, respectively, that was 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 25, 2021 (in millions):
Due after 1 year through 5 years$83,755 
Due after 5 years through 10 years23,915 
Due after 10 years20,207 
Total fair value$127,877 
Notional Amounts of Outstanding Derivative Instruments
The notional amounts of the Company’s outstanding derivative instruments as of September 25, 2021 and September 26, 2020 were as follows (in millions):
20212020
Derivative instruments designated as accounting hedges:
Foreign exchange contracts
$76,475 $57,410 
Interest rate contracts
$16,875 $20,700 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts
$126,918 $88,636 
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 25, 2021 and September 26, 2020 were as follows (in millions):
20212020
Hedged assets/(liabilities):
Current and non-current marketable securities$15,954 $16,270 
Current and non-current term debt$(17,857)$(21,033)
v3.21.2
Consolidated Financial Statement Details (Tables)
 12 Months Ended
Sep. 25, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Property, Plant and Equipment, Net
Property, Plant and Equipment, Net
20212020
Land and buildings
$20,041 $17,952 
Machinery, equipment and internal-use software
78,659 75,291 
Leasehold improvements
11,023 10,283 
Gross property, plant and equipment
109,723 103,526 
Accumulated depreciation and amortization
(70,283)(66,760)
Total property, plant and equipment, net
$39,440 $36,766 
Other Non-Current Liabilities
Other Non-Current Liabilities
20212020
Long-term taxes payable$24,689 $28,170 
Other non-current liabilities
28,636 26,320 
Total other non-current liabilities
$53,325 $54,490 
Other Income/(Expense), Net
Other Income/(Expense), Net
The following table shows the detail of OI&E for 2021, 2020 and 2019 (in millions):
202120202019
Interest and dividend income
$2,843 $3,763 $4,961 
Interest expense
(2,645)(2,873)(3,576)
Other income/(expense), net60 (87)422 
Total other income/(expense), net
$258 $803 $1,807 
v3.21.2
Income Taxes (Tables)
 12 Months Ended
Sep. 25, 2021
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
The provision for income taxes for 2021, 2020 and 2019, consisted of the following (in millions):
202120202019
Federal:
Current
$8,257 $6,306 $6,384 
Deferred
(7,176)(3,619)(2,939)
Total
1,081 2,687 3,445 
State:
Current
1,620 455 475 
Deferred
(338)21 (67)
Total
1,282 476 408 
Foreign:
Current
9,424 3,134 3,962 
Deferred
2,740 3,383 2,666 
Total
12,164 6,517 6,628 
Provision for income taxes
$14,527 $9,680 $10,481 
Reconciliation of Provision for Income Taxes
A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate (21% in 2021, 2020 and 2019) to income before provision for income taxes for 2021, 2020 and 2019, is as follows (dollars in millions):
202120202019
Computed expected tax
$22,933 $14,089 $13,805 
State taxes, net of federal effect
1,151 423 423 
Impacts of the U.S. Tax Cuts and Jobs Act of 2017— (582)— 
Earnings of foreign subsidiaries(4,715)(2,534)(2,625)
Foreign-derived intangible income deduction(1,372)(169)(149)
Research and development credit, net
(1,033)(728)(548)
Excess tax benefits from equity awards
(2,137)(930)(639)
Other
(300)111 214 
Provision for income taxes
$14,527 $9,680 $10,481 
Effective tax rate
13.3 %14.4 %15.9 %
Significant Components of Deferred Tax Assets and Liabilities
As of September 25, 2021 and September 26, 2020, the significant components of the Company’s deferred tax assets and liabilities were (in millions):
20212020
Deferred tax assets:
Amortization and depreciation
$5,575 $8,317 
Accrued liabilities and other reserves
5,895 4,934 
Lease liabilities2,406 2,038 
Deferred revenue5,399 1,638 
Tax credit carryforwards4,262 797 
Other1,639 1,612 
Total deferred tax assets25,176 19,336 
Less: Valuation allowance(4,903)(1,041)
Total deferred tax assets, net
20,273 18,295 
Deferred tax liabilities:
Minimum tax on foreign earnings
4,318 7,045 
Right-of-use assets2,167 1,862 
Unrealized gains203 526 
Other
512 705 
Total deferred tax liabilities
7,200 10,138 
Net deferred tax assets$13,073 $8,157 
Aggregate Changes in Gross Unrecognized Tax Benefits
The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2021, 2020 and 2019, is as follows (in millions):
202120202019
Beginning balances
$16,475 $15,619 $9,694 
Increases related to tax positions taken during a prior year
816 454 5,845 
Decreases related to tax positions taken during a prior year
(1,402)(791)(686)
Increases related to tax positions taken during the current year
1,607 1,347 1,697 
Decreases related to settlements with taxing authorities
(1,838)(85)(852)
Decreases related to expiration of the statute of limitations
(181)(69)(79)
Ending balances
$15,477 $16,475 $15,619 
v3.21.2
Leases (Tables)
 12 Months Ended
Sep. 25, 2021
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 25, 2021 and September 26, 2020 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20212020
Right-of-use assets:
Operating leasesOther non-current assets$10,087 $8,570 
Finance leasesProperty, plant and equipment, net861 629 
Total right-of-use assets$10,948 $9,199 
Lease liabilities:
Operating leasesOther current liabilities$1,449 $1,436 
Other non-current liabilities9,506 7,745 
Finance leasesOther current liabilities79 24 
Other non-current liabilities769 637 
Total lease liabilities$11,803 $9,842 
Lease Liability Maturities
Lease liability maturities as of September 25, 2021, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2022$1,629 $104 $1,733 
20231,560 123 1,683 
20241,499 99 1,598 
20251,251 46 1,297 
20261,061 26 1,087 
Thereafter5,187 868 6,055 
Total undiscounted liabilities12,187 1,266 13,453 
Less: Imputed interest(1,232)(418)(1,650)
Total lease liabilities$10,955 $848 $11,803 
Lease Liability Maturities
Lease liability maturities as of September 25, 2021, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2022$1,629 $104 $1,733 
20231,560 123 1,683 
20241,499 99 1,598 
20251,251 46 1,297 
20261,061 26 1,087 
Thereafter5,187 868 6,055 
Total undiscounted liabilities12,187 1,266 13,453 
Less: Imputed interest(1,232)(418)(1,650)
Total lease liabilities$10,955 $848 $11,803 
v3.21.2
Debt (Tables)
 12 Months Ended
Sep. 25, 2021
Debt Disclosure [Abstract]  
Summary of Cash Flows Associated with Issuance and Maturities of Commercial Paper The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for 2021, 2020 and 2019 (in millions):
202120202019
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net$(357)$100 $(3,248)
Maturities greater than 90 days:
Proceeds from commercial paper
7,946 6,185 13,874 
Repayments of commercial paper
(6,567)(7,248)(16,603)
Proceeds from/(Repayments of) commercial paper, net1,379 (1,063)(2,729)
Total proceeds from/(repayments of) commercial paper, net$1,022 $(963)$(5,977)
Summary of Term Debt The following table provides a summary of the Company’s term debt as of September 25, 2021 and September 26, 2020:
Maturities
(calendar year)
20212020
Amount
(in millions)
Effective
Interest Rate
Amount
(in millions)
Effective
Interest Rate
2013 – 2020 debt issuances:
Floating-rate notes
 2022
$1,750 
0.48% – 0.63%
$2,250 
0.60% – 1.39%
Fixed-rate 0.000% – 4.650% notes
2022 – 2060
95,813 
0.03% – 4.78%
103,828 
0.03% – 4.78%
Second quarter 2021 debt issuance:
Fixed-rate 0.700% – 2.800% notes
2026 – 2061
14,000 
0.75% – 2.81%
— — %
Fourth quarter 2021 debt issuance:
Fixed-rate 1.400% – 2.850% notes
2028 – 2061
6,500 
1.43% – 2.86%
— — %
Total term debt118,063 106,078 
Unamortized premium/(discount) and issuance costs, net
(380)(314)
Hedge accounting fair value adjustments1,036 1,676 
Less: Current portion of term debt(9,613)(8,773)
Total non-current portion of term debt$109,106 $98,667 
Future Principal Payments for the Notes
The future principal payments for the Company’s Notes as of September 25, 2021, are as follows (in millions):
2022$9,583 
202311,391 
202410,202 
202510,914 
202611,408 
Thereafter64,565 
Total term debt$118,063 
v3.21.2
Shareholders' Equity (Tables)
 12 Months Ended
Sep. 25, 2021
Equity [Abstract]  
Changes in Shares of Common Stock
The following table shows the changes in shares of common stock for 2021, 2020 and 2019 (in thousands):
202120202019
Common stock outstanding, beginning balances
16,976,763 17,772,945 19,019,943 
Common stock repurchased
(656,340)(917,270)(1,380,819)
Common stock issued, net of shares withheld for employee taxes
106,363 121,088 133,821 
Common stock outstanding, ending balances
16,426,786 16,976,763 17,772,945 
v3.21.2
Benefit Plans (Tables)
 12 Months Ended
Sep. 25, 2021
Share-based Payment Arrangement [Abstract]  
Restricted Stock Unit Activity
A summary of the Company’s RSU activity and related information for 2021, 2020 and 2019, 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 29, 2018368,618 $33.65 
RSUs granted
147,409 $53.99 
RSUs vested
(168,350)$33.80 
RSUs canceled
(21,609)$40.71 
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 $35,324 
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 2021, 2020 and 2019 (in millions):
202120202019
Share-based compensation expense$7,906 $6,829 $6,068 
Income tax benefit related to share-based compensation expense
$(4,056)$(2,476)$(1,967)
v3.21.2
Commitments and Contingencies (Tables)
 12 Months Ended
Sep. 25, 2021
Commitments and Contingencies Disclosure [Abstract]  
Changes in Accrued Warranties and Related Costs
The following table shows changes in the Company’s accrued warranties and related costs for 2021, 2020 and 2019 (in millions):
202120202019
Beginning accrued warranty and related costs
$3,354 $3,570 $3,692 
Cost of warranty claims
(2,674)(2,956)(3,857)
Accruals for product warranty
2,684 2,740 3,735 
Ending accrued warranty and related costs
$3,364 $3,354 $3,570 
Future Payments Under Unconditional Purchase Obligations Future payments under noncancelable unconditional purchase obligations having a remaining term in excess of one year as of September 25, 2021, are as follows (in millions):
2022$4,551 
20232,165 
2024984 
2025405 
202651 
Thereafter28 
Total$8,184 
v3.21.2
Segment Information and Geographic Data (Tables)
 12 Months Ended
Sep. 25, 2021
Segment Reporting [Abstract]  
Information by Reportable Segment
The following table shows information by reportable segment for 2021, 2020 and 2019 (in millions):
202120202019
Americas:
Net sales
$153,306 $124,556 $116,914 
Operating income
$53,382 $37,722 $35,099 
Europe:
Net sales
$89,307 $68,640 $60,288 
Operating income
$32,505 $22,170 $19,195 
Greater China:
Net sales
$68,366 $40,308 $43,678 
Operating income
$28,504 $15,261 $16,232 
Japan:
Net sales
$28,482 $21,418 $21,506 
Operating income
$12,798 $9,279 $9,369 
Rest of Asia Pacific:
Net sales
$26,356 $19,593 $17,788 
Operating income
$9,817 $6,808 $6,055 
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 2021, 2020 and 2019 is as follows (in millions):
202120202019
Segment operating income
$137,006 $91,240 $85,950 
Research and development expense
(21,914)(18,752)(16,217)
Other corporate expenses, net
(6,143)(6,200)(5,803)
Total operating income
$108,949 $66,288 $63,930 
Net Sales and Long-lived Assets Net sales for 2021, 2020 and 2019 and long-lived assets as of September 25, 2021 and September 26, 2020 were as follows (in millions):
202120202019
Net sales:
U.S.$133,803 $109,197 $102,266 
China (1)
68,366 40,308 43,678 
Other countries
163,648 125,010 114,230 
Total net sales
$365,817 $274,515 $260,174 
20212020
Long-lived assets:
U.S.$28,203 $25,890 
China (1)
7,521 7,256 
Other countries
3,716 3,620 
Total long-lived assets
$39,440 $36,766 
(1)China includes Hong Kong and Taiwan. Long-lived assets located in China consist primarily of product tooling and manufacturing process equipment and assets related to retail stores and related infrastructure.
v3.21.2
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)
shares in Millions, $ in Billions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Significant Accounting Policies [Line Items]      
Potentially dilutive securities excluded from the computation of diluted earnings per share because their effect would have been antidilutive (in shares)     62
Depreciation and amortization expense on property and equipment $ 9.5 $ 9.7 $ 11.3
Noncash activities involving property, plant and equipment, net decrease to accounts payable and other current liabilities     $ 2.9
Buildings | Maximum      
Significant Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful life 40 years    
Machinery and equipment, including product tooling and manufacturing process equipment | Minimum      
Significant Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful life 1 year    
Machinery and equipment, including product tooling and manufacturing process 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    
v3.21.2
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. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Numerator:      
Net income $ 94,680 $ 57,411 $ 55,256
Denominator:      
Weighted-average basic shares outstanding (in shares) 16,701,272 17,352,119 18,471,336
Effect of dilutive securities (in shares) 163,647 176,095 124,315
Weighted-average diluted shares (in shares) 16,864,919 17,528,214 18,595,651
Basic earnings per share (in dollars per share) $ 5.67 $ 3.31 $ 2.99
Diluted earnings per share (in dollars per share) $ 5.61 $ 3.28 $ 2.97
v3.21.2
Revenue Recognition - Additional Information (Details)
$ in Billions
Sep. 25, 2021
USD ($)
obligation
Sep. 26, 2020
USD ($)
Revenue from Contract with Customer [Abstract]    
Performance obligations in arrangements (up to) | obligation 3  
Total deferred revenue | $ $ 11.9 $ 10.2
v3.21.2
Revenue Recognition - Deferred Revenue, Expected Timing of Realization (Details)
Sep. 25, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-09-26  
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]: 2022-09-25  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 26.00%
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 8.00%
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 2.00%
Deferred revenue, expected timing of realization, period
v3.21.2
Revenue Recognition - Net Sales Disaggregated by Significant Products and Services (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Disaggregation of Revenue [Line Items]      
Net sales $ 365,817 $ 274,515 $ 260,174
Revenue recognized that was included in deferred revenue at the beginning of the period 6,700 5,000 5,900
iPhone      
Disaggregation of Revenue [Line Items]      
Net sales 191,973 137,781 142,381
Mac      
Disaggregation of Revenue [Line Items]      
Net sales 35,190 28,622 25,740
iPad      
Disaggregation of Revenue [Line Items]      
Net sales 31,862 23,724 21,280
Wearables, Home and Accessories      
Disaggregation of Revenue [Line Items]      
Net sales 38,367 30,620 24,482
Services      
Disaggregation of Revenue [Line Items]      
Net sales $ 68,425 $ 53,768 $ 46,291
v3.21.2
Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Debt Securities, Available-for-sale [Line Items]    
Cash, Cash Equivalents and Marketable Securities, Adjusted Cost $ 189,961 $ 189,431
Cash Equivalents and Marketable Securities, Unrealized Gains 1,753 2,784
Cash Equivalents and Marketable Securities, Unrealized Loss (1,198) (385)
Cash, Cash Equivalents and Marketable Securities, Fair Value 190,516 191,830
Cash and Cash Equivalents 34,940 38,016
Current Marketable Securities 27,699 52,927
Non-Current Marketable Securities 127,877 100,887
Total marketable securities that were restricted from general use 17,900 18,600
Level 1    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Equity, Adjusted Cost 9,783  
Marketable Securities, Equity, Unrealized Gains 11  
Marketable Securities, Equity, Unrealized Losses (1)  
Marketable Securities, Equity, Fair Value 9,793  
Cash and Cash Equivalents 9,608  
Current Marketable Securities 185  
Non-Current Marketable Securities 0  
Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 162,873 169,487
Marketable Securities, Debt, Unrealized Gains 1,742 2,784
Marketable Securities, Debt, Unrealized Losses (1,197) (385)
Marketable Securities, Debt, Fair Value 163,418 171,886
Cash and Cash Equivalents 8,027 18,072
Current Marketable Securities 27,514 52,927
Non-Current Marketable Securities 127,877 100,887
Cash    
Debt Securities, Available-for-sale [Line Items]    
Cash 17,305 17,773
Cash and Cash Equivalents 17,305 17,773
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 9,608 2,171
Marketable Securities, Equity, Unrealized Gains 0 0
Marketable Securities, Equity, Unrealized Losses 0 0
Marketable Securities, Equity, Fair Value 9,608 2,171
Cash and Cash Equivalents 9,608 2,171
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 175  
Marketable Securities, Equity, Unrealized Gains 11  
Marketable Securities, Equity, Unrealized Losses (1)  
Marketable Securities, Equity, Fair Value 185  
Cash and Cash Equivalents 0  
Current Marketable Securities 185  
Non-Current Marketable Securities 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 22,878 28,439
Marketable Securities, Debt, Unrealized Gains 102 331
Marketable Securities, Debt, Unrealized Losses (77) 0
Marketable Securities, Debt, Fair Value 22,903 28,770
Cash and Cash Equivalents 3,596 8,580
Current Marketable Securities 6,625 11,972
Non-Current Marketable Securities 12,682 8,218
U.S. agency securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 8,949 8,604
Marketable Securities, Debt, Unrealized Gains 2 8
Marketable Securities, Debt, Unrealized Losses (64) 0
Marketable Securities, Debt, Fair Value 8,887 8,612
Cash and Cash Equivalents 1,775 2,009
Current Marketable Securities 1,930 3,078
Non-Current Marketable Securities 5,182 3,525
Non-U.S. government securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 20,201 19,361
Marketable Securities, Debt, Unrealized Gains 211 275
Marketable Securities, Debt, Unrealized Losses (101) (186)
Marketable Securities, Debt, Fair Value 20,311 19,450
Cash and Cash Equivalents 390 255
Current Marketable Securities 3,091 3,329
Non-Current Marketable Securities 16,830 15,866
Certificates of deposit and time deposits | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 1,300 10,399
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 1,300 10,399
Cash and Cash Equivalents 490 4,043
Current Marketable Securities 810 6,246
Non-Current Marketable Securities 0 110
Commercial paper | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 2,639 11,226
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 2,639 11,226
Cash and Cash Equivalents 1,776 3,185
Current Marketable Securities 863 8,041
Non-Current Marketable Securities 0 0
Corporate debt securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 83,883 76,937
Marketable Securities, Debt, Unrealized Gains 1,242 1,834
Marketable Securities, Debt, Unrealized Losses (267) (175)
Marketable Securities, Debt, Fair Value 84,858 78,596
Cash and Cash Equivalents 0 0
Current Marketable Securities 12,327 19,687
Non-Current Marketable Securities 72,531 58,909
Municipal securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 967 1,001
Marketable Securities, Debt, Unrealized Gains 14 22
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 981 1,023
Cash and Cash Equivalents 0 0
Current Marketable Securities 130 139
Non-Current Marketable Securities 851 884
Mortgage- and asset-backed securities | Level 2    
Debt Securities, Available-for-sale [Line Items]    
Marketable Securities, Debt, Adjusted Cost 20,529 13,520
Marketable Securities, Debt, Unrealized Gains 171 314
Marketable Securities, Debt, Unrealized Losses (124) (24)
Marketable Securities, Debt, Fair Value 20,576 13,810
Cash and Cash Equivalents 0 0
Current Marketable Securities 775 435
Non-Current Marketable Securities $ 19,801 $ 13,375
v3.21.2
Financial Instruments - Non-Current Marketable Debt Securities by Contractual Maturity (Details)
$ in Millions
Sep. 25, 2021
USD ($)
Fair value of non-current marketable debt securities by contractual maturity  
Due after 1 year through 5 years $ 83,755
Due after 5 years through 10 years 23,915
Due after 10 years 20,207
Total fair value $ 127,877
v3.21.2
Financial Instruments - Additional Information (Details)
 12 Months Ended
Sep. 25, 2021
Vendor
Customer
Sep. 26, 2020
Customer
Vendor
Trade receivables | Credit concentration risk    
Financial Instruments [Line Items]    
Number of customers that individually represented 10% or more of total trade receivables | Customer 0 0
Trade receivables | Credit concentration risk | Cellular network carriers    
Financial Instruments [Line Items]    
Concentration risk, percentage 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 3 2
Non-trade receivables | Credit concentration risk | Vendor one    
Financial Instruments [Line Items]    
Concentration risk, percentage 52.00% 57.00%
Non-trade receivables | Credit concentration risk | Vendor two    
Financial Instruments [Line Items]    
Concentration risk, percentage 11.00% 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]    
Hedged foreign currency transactions, expected recognition period 12 months  
Hedges of foreign currency exposure associated with term debt and marketable securities    
Financial Instruments [Line Items]    
Hedged foreign currency transactions, expected recognition period 21 years  
v3.21.2
Financial Instruments - Notional Amounts of Derivative Instruments (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Derivative instruments designated as accounting hedges | Foreign exchange contracts    
Derivative [Line Items]    
Derivatives, notional amount $ 76,475 $ 57,410
Derivative instruments designated as accounting hedges | Interest rate contracts    
Derivative [Line Items]    
Derivatives, notional amount 16,875 20,700
Derivative instruments not designated as accounting hedges | Foreign exchange contracts    
Derivative [Line Items]    
Derivatives, notional amount $ 126,918 $ 88,636
v3.21.2
Financial Instruments - Derivative Instruments Designated as Fair Value Hedges and Related Hedged Items (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Current and non-current marketable securities | Foreign exchange contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying amount of hedged marketable securities $ 15,954 $ 16,270
Current and non-current term debt | Interest rate contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying amount of hedged term debt $ (17,857) $ (21,033)
v3.21.2
Consolidated Financial Statement Details - Property, Plant and Equipment, Net (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 109,723 $ 103,526
Accumulated depreciation and amortization (70,283) (66,760)
Total property, plant and equipment, net 39,440 36,766
Land and buildings    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 20,041 17,952
Machinery, equipment and internal-use software    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 78,659 75,291
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 11,023 $ 10,283
v3.21.2
Consolidated Financial Statement Details - Other Non-Current Liabilities (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Long-term taxes payable $ 24,689 $ 28,170
Other non-current liabilities 28,636 26,320
Total other non-current liabilities $ 53,325 $ 54,490
v3.21.2
Consolidated Financial Statement Details - Other Income/(Expense), Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Interest and dividend income $ 2,843 $ 3,763 $ 4,961
Interest expense (2,645) (2,873) (3,576)
Other income/(expense), net 60 (87) 422
Total other income/(expense), net $ 258 $ 803 $ 1,807
v3.21.2
Income Taxes - Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Federal:      
Current $ 8,257 $ 6,306 $ 6,384
Deferred (7,176) (3,619) (2,939)
Total 1,081 2,687 3,445
State:      
Current 1,620 455 475
Deferred (338) 21 (67)
Total 1,282 476 408
Foreign:      
Current 9,424 3,134 3,962
Deferred 2,740 3,383 2,666
Total 12,164 6,517 6,628
Provision for income taxes $ 14,527 $ 9,680 $ 10,481
v3.21.2
Income Taxes - Additional Information (Details)
$ in Millions, € in Billions
 12 Months Ended
Aug. 30, 2016
EUR (€)
Subsidiary
Sep. 25, 2021
USD ($)
Sep. 26, 2020
USD ($)
Sep. 28, 2019
USD ($)
Sep. 25, 2021
EUR (€)
Sep. 29, 2018
USD ($)
Income Tax Contingency [Line Items]            
Foreign pre-tax earnings   $ 68,700 $ 38,100 $ 44,300    
U.S. statutory federal income tax rate   21.00% 21.00% 21.00%    
Foreign tax credit carryforwards   $ 2,600        
Research and development tax credit carryforwards   1,600        
Gross unrecognized tax benefits   15,477 $ 16,475 $ 15,619   $ 9,694
Gross unrecognized tax benefits that would impact effective tax rate, if recognized   6,600 8,800      
Reasonably possible decrease in gross unrecognized tax benefits over next 12 months   1,200        
Gross interest and penalties accrued   1,500 1,400      
Interest and penalty expense   $ 219 $ 85 $ 73    
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          
v3.21.2
Income Taxes - Reconciliation of the Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Income Tax Disclosure [Abstract]      
Computed expected tax $ 22,933 $ 14,089 $ 13,805
State taxes, net of federal effect 1,151 423 423
Impacts of the U.S. Tax Cuts and Jobs Act of 2017 0 (582) 0
Earnings of foreign subsidiaries (4,715) (2,534) (2,625)
Foreign-derived intangible income deduction (1,372) (169) (149)
Research and development credit, net (1,033) (728) (548)
Excess tax benefits from equity awards (2,137) (930) (639)
Other (300) 111 214
Provision for income taxes $ 14,527 $ 9,680 $ 10,481
Effective tax rate 13.30% 14.40% 15.90%
v3.21.2
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Deferred tax assets:    
Amortization and depreciation $ 5,575 $ 8,317
Accrued liabilities and other reserves 5,895 4,934
Lease liabilities 2,406 2,038
Deferred revenue 5,399 1,638
Tax credit carryforwards 4,262 797
Other 1,639 1,612
Total deferred tax assets 25,176 19,336
Less: Valuation allowance (4,903) (1,041)
Total deferred tax assets, net 20,273 18,295
Deferred tax liabilities:    
Minimum tax on foreign earnings 4,318 7,045
Right-of-use assets 2,167 1,862
Unrealized gains 203 526
Other 512 705
Total deferred tax liabilities 7,200 10,138
Net deferred tax assets $ 13,073 $ 8,157
v3.21.2
Income Taxes - Aggregate Changes in Gross Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balances $ 16,475 $ 15,619 $ 9,694
Increases related to tax positions taken during a prior year 816 454 5,845
Decreases related to tax positions taken during a prior year (1,402) (791) (686)
Increases related to tax positions taken during the current year 1,607 1,347 1,697
Decreases related to settlements with taxing authorities (1,838) (85) (852)
Decreases related to expiration of the statute of limitations (181) (69) (79)
Ending balances $ 15,477 $ 16,475 $ 15,619
v3.21.2
Leases - Additional Information (Details) - USD ($)
$ in Billions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Lessee, Lease, Description [Line Items]      
Typical term of leases (not exceeding) 10 years    
Fixed operating lease costs $ 1.7 $ 1.5  
Variable lease costs 12.9 9.3  
Operating leases, rent expense, net     $ 1.3
Fixed operating lease payments 1.4 1.5  
Right-of-use assets obtained in exchange for operating and finance lease liabilities $ 3.3 $ 10.5  
Weighted-average remaining lease term 10 years 9 months 18 days 10 years 3 months 18 days  
Weighted-average discount rate 2.00% 2.00%  
Leases not yet commenced, future payments $ 1.1    
Minimum      
Lessee, Lease, Description [Line Items]      
Leases not yet commenced, lease term 3 years    
Maximum      
Lessee, Lease, Description [Line Items]      
Leases not yet commenced, lease term 20 years    
v3.21.2
Leases - ROU Assets and Lease Liabilities (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Lease-Related Assets and Liabilities    
Operating lease right-of-use assets $ 10,087 $ 8,570
Operating lease right-of-use assets, financial statement line item [Extensible Enumeration] Other non-current assets Other non-current assets
Finance lease right-of-use assets $ 861 $ 629
Finance lease right-of-use assets, financial statement line item [Extensible Enumeration] Property, plant and equipment, net Property, plant and equipment, net
Total right-of-use assets $ 10,948 $ 9,199
Operating lease liabilities, current $ 1,449 $ 1,436
Operating lease liabilities, current, financial statement line item [Extensible Enumeration] Other current liabilities Other current liabilities
Operating lease liabilities, non-current $ 9,506 $ 7,745
Operating lease liabilities, non-current, financial statement line item [Extensible Enumeration] Other non-current liabilities Other non-current liabilities
Finance lease liabilities, current $ 79 $ 24
Finance lease liabilities, current, financial statement line item [Extensible Enumeration] Other current liabilities Other current liabilities
Finance lease liabilities, non-current $ 769 $ 637
Finance lease liabilities, non-current, financial statement line item [Extensible Enumeration] Other non-current liabilities Other non-current liabilities
Total lease liabilities $ 11,803 $ 9,842
v3.21.2
Leases - Lease Liability Maturities (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Operating Leases    
2022 $ 1,629  
2023 1,560  
2024 1,499  
2025 1,251  
2026 1,061  
Thereafter 5,187  
Total undiscounted liabilities 12,187  
Less: Imputed interest (1,232)  
Total lease liabilities 10,955  
Finance Leases    
2022 104  
2023 123  
2024 99  
2025 46  
2026 26  
Thereafter 868  
Total undiscounted liabilities 1,266  
Less: Imputed interest (418)  
Total lease liabilities 848  
Total    
2022 1,733  
2023 1,683  
2024 1,598  
2025 1,297  
2026 1,087  
Thereafter 6,055  
Total undiscounted liabilities 13,453  
Less: Imputed interest (1,650)  
Total lease liabilities $ 11,803 $ 9,842
v3.21.2
Debt - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Debt Instrument [Line Items]      
Commercial paper $ 6,000 $ 4,996  
Proceeds from repurchase agreements   5,200  
Repayments of repurchase agreements   (5,200)  
Floating- and fixed-rate notes, aggregate principal amount 118,063 106,078  
Interest expense on term debt 2,600 2,800 $ 3,200
Commercial paper      
Debt Instrument [Line Items]      
Commercial paper $ 6,000 $ 5,000  
Commercial paper, general maturity period (less than) 9 months    
Commercial paper, weighted-average interest rate 0.06% 0.62%  
Level 2      
Debt Instrument [Line Items]      
Floating- and fixed-rate notes, aggregate fair value $ 125,300 $ 117,100  
v3.21.2
Debt - Summary of Cash Flows Associated with Commercial Paper (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Maturities 90 days or less:      
Proceeds from/(Repayments of) commercial paper, net $ (357) $ 100 $ (3,248)
Maturities greater than 90 days:      
Proceeds from commercial paper 7,946 6,185 13,874
Repayments of commercial paper (6,567) (7,248) (16,603)
Proceeds from/(Repayments of) commercial paper, net 1,379 (1,063) (2,729)
Total proceeds from/(repayments of) commercial paper, net $ 1,022 $ (963) $ (5,977)
v3.21.2
Debt - Summary of Term Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Debt Instrument [Line Items]    
Total term debt $ 118,063 $ 106,078
Unamortized premium/(discount) and issuance costs, net (380) (314)
Hedge accounting fair value adjustments 1,036 1,676
Less: Current portion of term debt (9,613) (8,773)
Total non-current portion of term debt 109,106 98,667
2013 – 2020 debt issuances | Floating-rate notes    
Debt Instrument [Line Items]    
Total term debt $ 1,750 $ 2,250
Debt instrument, maturity year (calendar), start 2022  
Debt instrument, maturity year (calendar), end 2022  
2013 – 2020 debt issuances | Floating-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, effective interest rate 0.48% 0.60%
2013 – 2020 debt issuances | Floating-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, effective interest rate 0.63% 1.39%
2013 – 2020 debt issuances | Fixed-rate notes    
Debt Instrument [Line Items]    
Total term debt $ 95,813 $ 103,828
Debt instrument, maturity year (calendar), start 2022  
Debt instrument, maturity year (calendar), end 2060  
2013 – 2020 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 – 2020 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%
Second quarter 2021 debt issuance | Fixed-rate notes    
Debt Instrument [Line Items]    
Total term debt $ 14,000 $ 0
Debt instrument, maturity year (calendar), start 2026  
Debt instrument, maturity year (calendar), end 2061  
Debt instrument, effective interest rate   0.00%
Second quarter 2021 debt issuance | Fixed-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 0.70%  
Debt instrument, effective interest rate 0.75%  
Second quarter 2021 debt issuance | Fixed-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 2.80%  
Debt instrument, effective interest rate 2.81%  
Fourth quarter 2021 debt issuance | Fixed-rate notes    
Debt Instrument [Line Items]    
Total term debt $ 6,500 $ 0
Debt instrument, maturity year (calendar), start 2028  
Debt instrument, maturity year (calendar), end 2061  
Debt instrument, effective interest rate   0.00%
Fourth quarter 2021 debt issuance | Fixed-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 1.40%  
Debt instrument, effective interest rate 1.43%  
Fourth quarter 2021 debt issuance | Fixed-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 2.85%  
Debt instrument, effective interest rate 2.86%  
v3.21.2
Debt - Future Principal Payments for Term Debt (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Debt Disclosure [Abstract]    
2022 $ 9,583  
2023 11,391  
2024 10,202  
2025 10,914  
2026 11,408  
Thereafter 64,565  
Total term debt $ 118,063 $ 106,078
v3.21.2
Shareholders' Equity - Additional Information (Details)
shares in Millions
 12 Months Ended
Sep. 25, 2021
USD ($)
shares
Share Repurchase Program [Line Items]  
Amount authorized for repurchase of common stock (up to) $ 315,000,000,000
Number of shares repurchased (in shares) | shares 656
Amount of share repurchases $ 85,500,000,000
Share repurchase program, amount utilized $ 254,100,000,000
May 2021 accelerated share repurchase agreement  
Share Repurchase Program [Line Items]  
Number of shares repurchased (in shares) | shares 36
Amount of share repurchases, accelerated share repurchase agreement $ 5,000,000,000
v3.21.2
Shareholders' Equity - Shares of Common Stock (Details) - shares
shares in Thousands
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Increase (Decrease) in Shares of Common Stock Outstanding [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 16,976,763    
Common stock repurchased (in shares) (656,000)    
Common stock outstanding, ending balances (in shares) 16,426,786 16,976,763  
Common stock      
Increase (Decrease) in Shares of Common Stock Outstanding [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 16,976,763 17,772,945 19,019,943
Common stock repurchased (in shares) (656,340) (917,270) (1,380,819)
Common stock issued, net of shares withheld for employee taxes (in shares) 106,363 121,088 133,821
Common stock outstanding, ending balances (in shares) 16,426,786 16,976,763 17,772,945
v3.21.2
Benefit Plans - Additional Information (Details)
shares in Millions
 12 Months Ended
Sep. 25, 2021
USD ($)
shares
Sep. 26, 2020
USD ($)
shares
Sep. 28, 2019
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Maximum portion of pre-tax earnings that can be deferred by participating U.S. employees under 401(k) Plan $ 19,500    
Payments to taxing authorities for employees' tax obligations 6,556,000,000 $ 3,634,000,000 $ 2,817,000,000
Total unrecognized compensation cost related to RSUs and stock options $ 13,600,000,000    
Total unrecognized compensation cost related to RSUs and stock options, weighted-average recognition period 2 years 6 months    
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 $ 19,000,000,000 $ 10,800,000,000 $ 8,600,000,000
The total shares withheld upon vesting of RSUs (in shares) | shares 53 56 59
Payments to taxing authorities for employees' tax obligations $ 6,800,000,000 $ 3,900,000,000 $ 3,000,000,000
Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares reserved for future issuance under stock plans (in shares) | shares 96    
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 compensation, maximum 10.00%    
Employee Stock Purchase Plan, maximum annual purchase amount per employee $ 25,000    
2014 Employee Stock Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares reserved for future issuance under stock plans (in shares) | shares 760    
2014 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 reserved for future issuance under stock plans (in shares) | shares 4    
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    
v3.21.2
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. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Number of Restricted Stock Units      
Beginning balance (in shares) 310,778 326,068 368,618
RSUs granted (in shares) 89,363 156,800 147,409
RSUs vested (in shares) (145,766) (157,743) (168,350)
RSUs canceled (in shares) (13,948) (14,347) (21,609)
Ending balance (in shares) 240,427 310,778 326,068
Weighted-Average Grant Date Fair Value Per RSU      
Beginning balance (in dollars per share) $ 51.58 $ 42.30 $ 33.65
RSUs granted (in dollars per share) 116.33 59.20 53.99
RSUs vested (in dollars per share) 50.71 40.29 33.80
RSUs canceled (in dollars per share) 68.95 48.07 40.71
Ending balance (in dollars per share) $ 75.16 $ 51.58 $ 42.30
Aggregate Fair Value      
Aggregate fair value of RSUs $ 35,324    
v3.21.2
Benefit Plans - Summary of Share-Based Compensation Expense and the Related Income Tax Benefit (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Share-based Payment Arrangement [Abstract]      
Share-based compensation expense $ 7,906 $ 6,829 $ 6,068
Income tax benefit related to share-based compensation expense $ (4,056) $ (2,476) $ (1,967)
v3.21.2
Commitments and Contingencies - Changes in Accrued Warranties and Related Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Changes in Accrued Warranties and Related Costs [Roll Forward]      
Beginning accrued warranty and related costs $ 3,354 $ 3,570 $ 3,692
Cost of warranty claims (2,674) (2,956) (3,857)
Accruals for product warranty 2,684 2,740 3,735
Ending accrued warranty and related costs $ 3,364 $ 3,354 $ 3,570
v3.21.2
Commitments and Contingencies - Future Payments Under Unconditional Purchase Obligations (Details)
$ in Millions
Sep. 25, 2021
USD ($)
Future payments under unconditional purchase obligations with a remaining term in excess of one year  
2022 $ 4,551
2023 2,165
2024 984
2025 405
2026 51
Thereafter 28
Total $ 8,184
v3.21.2
Commitments and Contingencies - Additional Information (Details)
$ in Millions, € in Billions
 1 Months Ended
Mar. 18, 2021
USD ($)
Mar. 16, 2020
EUR (€)
Aug. 31, 2021
USD ($)
Oct. 31, 2020
USD ($)
VirnetX | Pending Litigation        
Commitments and Contingencies Disclosure [Line Items]        
Award from legal proceedings, due to other party       $ 503
iOS Performance Management | Litigation, final court approval        
Commitments and Contingencies Disclosure [Line Items]        
Award from legal proceedings, due to other party $ 310      
French Competition Authority | Pending Litigation        
Commitments and Contingencies Disclosure [Line Items]        
Award from legal proceedings, due to other party | €   € 1.1    
Optis | Pending Litigation        
Commitments and Contingencies Disclosure [Line Items]        
Award from legal proceedings, due to other party     $ 300  
v3.21.2
Segment Information and Geographic Data - Information by Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Segment Reporting Information [Line Items]      
Net sales $ 365,817 $ 274,515 $ 260,174
Operating income 108,949 66,288 63,930
Americas      
Segment Reporting Information [Line Items]      
Net sales 153,306 124,556 116,914
Operating income 53,382 37,722 35,099
Europe      
Segment Reporting Information [Line Items]      
Net sales 89,307 68,640 60,288
Operating income 32,505 22,170 19,195
Greater China      
Segment Reporting Information [Line Items]      
Net sales 68,366 40,308 43,678
Operating income 28,504 15,261 16,232
Japan      
Segment Reporting Information [Line Items]      
Net sales 28,482 21,418 21,506
Operating income 12,798 9,279 9,369
Rest of Asia Pacific      
Segment Reporting Information [Line Items]      
Net sales 26,356 19,593 17,788
Operating income $ 9,817 $ 6,808 $ 6,055
v3.21.2
Segment Information and Geographic Data - Reconciliation of Segment Operating Income to the Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Operating income $ 108,949 $ 66,288 $ 63,930
Research and development expense (21,914) (18,752) (16,217)
Operating segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Operating income 137,006 91,240 85,950
Segment reconciling items      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Research and development expense (21,914) (18,752) (16,217)
Corporate non-segment      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Other corporate expenses, net $ (6,143) $ (6,200) $ (5,803)
v3.21.2
Segment Information and Geographic Data - Net Sales (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 25, 2021
Sep. 26, 2020
Sep. 28, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 365,817 $ 274,515 $ 260,174
U.S.      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 133,803 109,197 102,266
China      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 68,366 40,308 43,678
Other countries      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 163,648 $ 125,010 $ 114,230
v3.21.2
Segment Information and Geographic Data - Long-Lived Assets (Details) - USD ($)
$ in Millions
Sep. 25, 2021
Sep. 26, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 39,440 $ 36,766
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 28,203 25,890
China    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 7,521 7,256
Other countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 3,716 $ 3,620