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Apple Inc. 2021 Balance Sheet Analysis

- Apple Inc. reported total assets of $381.19 billion as of December 2021, with cash and short-term investments totaling $63.91 billion. - Current liabilities were $147.57 billion, including $74.36 billion in accounts payable. Total liabilities were $309.26 billion. - Shareholders' equity was $71.93 billion, with common stock at $58.42 billion and retained earnings of $14.44 billion.

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Nicolás Campero Acedo
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152 views4 pages

Apple Inc. 2021 Balance Sheet Analysis

- Apple Inc. reported total assets of $381.19 billion as of December 2021, with cash and short-term investments totaling $63.91 billion. - Current liabilities were $147.57 billion, including $74.36 billion in accounts payable. Total liabilities were $309.26 billion. - Shareholders' equity was $71.93 billion, with common stock at $58.42 billion and retained earnings of $14.44 billion.

Uploaded by

Nicolás Campero Acedo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Apple Inc.

(AAPL)
$173.19

Apple Inc.
AAPL 037833100 2046251 NASDAQ Common stock
Source: FactSet Fundamentals
DEC '21 DEC '20 DEC '19
Assets
Cash & Short-Term Investments 63.91 76.83 107.23
Cash Only 29.35 25.04 22.99
Total Short Term Investments 34.57 51.79 84.24
Short-Term Receivables 65.25 58.62 39.95
Accounts Receivables, Net 30.21 27.10 20.97
Accounts Receivables, Gross 30.21 27.10 20.97
Bad Debt/Doubtful Accounts
Other Receivables 35.04 31.52 18.98
Inventories 5.88 4.97 4.10
Finished Goods 5.88 4.97 4.10
Other Current Assets 18.11 13.69 11.96
Miscellaneous Current Assets 18.11 13.69 11.96
Total Current Assets 153.15 154.11 163.23
Net Property, Plant & Equipment 39.25 37.93 44.29
Property, Plant & Equipment - Gross 107.70 105.49 105.25
Buildings 18.89 17.75
Machinery & Equipment 76.22 70.84
Other Property, Plant & Equipment 10.38 9.40
Operating Lease Right-of-Use Assets 7.26
Accumulated Depreciation 68.45 67.56 60.96
Total Long-Term Investments 138.68 120.45 101.73
Other Long-Term Investments 138.68 120.45 101.73
Intangible Assets
Goodwill 0.00 0.00 0.00
Other Intangible Assets
Other Assets 50.11 41.56 31.37
Tangible Other Assets 50.11 41.56 31.37
Total Assets 381.19 354.05 340.62
Liabilities & Shareholders' Equity
Current
ST Debt & Curr. Portion LT Debt 16.17 12.76 16.47
Accounts Payable 74.36 63.85 45.11
Other Current Liabilities 57.04 55.90 40.58
Miscellaneous Current Liabilities 57.04 55.90 40.58
Total Current Liabilities 147.57 132.51 102.16
Long-Term
Long-Term Debt 106.63 99.28 100.28
Long-Term Debt excl Lease Obligations 106.63 99.28 93.08
Capital and Operating Lease Obligations 0.00 0.00 7.20
Provision for Risks & Charges 24.69 28.17 28.20
Deferred Tax Liabilities
Other Liabilities 30.37 27.87 20.45
Other Liabilities (excl. Deferred Income) 30.37 27.87 20.45
Deferred Income
Total Liabilities 309.26 287.83 251.09
Equity
Common Equity 71.93 66.22 89.53
Common Stock Par/Carry Value 58.42 51.74 45.97
Retained Earnings 14.44 14.30 43.98
Cumulative Translation Adjustment/Unrealized For. Exch. Gain -0.83 -1.26
Unrealized Gain/Loss Marketable Securities 0.00 2.37 0.82
Other Appropriated Reserves -0.93 -1.36 0.02
Total Shareholders' Equity 71.93 66.22 89.53
Total Equity 71.93 66.22 89.53
Total Liabilities & Shareholders' Equity 381.19 354.05 340.62
Per Share
Book Value per Share 4.40 3.94 5.10
Tangible Book Value per Share 4.40 3.94 5.10
All figures in billions of U.S. Dollar except per share items.
DEC '18 DEC '17

86.43 77.15
15.91 18.10
70.51 59.05
36.98 50.90
18.08 23.44
18.08 23.50
-0.06
18.90 27.46
4.99 4.42
4.99 4.42
12.43 11.34
12.43 11.34
140.83 143.81
39.60 33.68
91.53 77.11
16.35 14.19
66.82 55.48
8.35 7.44

51.93 43.43
158.61 207.94
158.61 207.94
8.04
0.00 5.89
2.15
34.69 13.32
34.69 13.32
373.72 406.79

21.74 18.48
44.29 62.99
42.25 34.33
42.25 34.33
108.28 115.79

92.99 103.92
92.99 103.92
0.00 0.00
30.95 34.91
15.90 0.55
7.71 11.42
7.71 8.29
3.13
255.83 266.60

117.89 140.20
40.97 36.45
80.51 104.59
-1.13 -0.31
-2.97 -0.59
0.52 0.07
117.89 140.20
117.89 140.20
373.72 406.79

6.23 6.90
6.23 6.50

Common questions

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Apple's retained earnings decreased from $43.98 billion in DEC '19 to $14.44 billion in DEC '21. This significant reduction could reflect increased shareholder payouts, such as dividends or stock repurchases, potentially impacting cash reserves and signaling management's confidence in generating future profits. However, it might also suggest less reinvestment in business growth, which needs careful consideration .

From DEC '19 to DEC '21, Apple's total liabilities increased from $251.09 billion to $309.26 billion while shareholder equity decreased from $89.53 billion to $71.93 billion. This trend suggests an increased reliance on debt financing, which can elevate financial risk if not offset by proportional earnings growth. The decreased equity also indicates possible reductions in retained earnings or increased dividend payouts, impacting the capital buffer available for adverse conditions .

Apple's accounts receivable increased from $20.97 billion in DEC '19 to $30.21 billion in DEC '21. This growth indicates higher sales volumes but may also suggest longer collection times or extended credit terms offered to customers. The consistent increase might necessitate a focus on enhancing the efficiency of their collection processes to optimize cash flow .

Apple's total current liabilities increased from $102.16 billion in 2019 to $147.57 billion in 2021. This rise could suggest a strategic use of short-term liabilities to manage operational costs or fund expansions. However, it might also raise concerns regarding the company's ability to cover these obligations without affecting operational efficiency or cash flow negatively .

Apple Inc.'s cash and short-term investments decreased from $76.83 billion in DEC '20 to $63.91 billion in DEC '21. This reduction could indicate a shift in Apple's financial strategy, possibly towards increasing investments in long-term assets or other strategic areas, reflecting a focus on growth and expansion rather than maintaining high short-term liquidity .

Apple reported zero goodwill and unspecified other intangible assets consistently from DEC '19 to DEC '21, suggesting a strategic focus on tangible and easily quantifiable assets. This could imply that Apple prefers tangible physical or financial investments over intangible ones, potentially aiming to minimize depreciation costs and maintain asset transparency on its balance sheet .

Apple's inventories grew from $4.10 billion in DEC '19 to $5.88 billion in DEC '21, indicating increased production to meet rising demand. This growth in inventory reveals an effective inventory management strategy aligned with sales growth, ensuring product availability while potentially managing costs and lead times effectively .

Apple increased its long-term investments from $101.73 billion in 2019 to $138.68 billion in 2021, while short-term investments decreased significantly. This shift suggests a strategic focus on longer-term gains and stability over immediate liquidity, indicating an investment strategy aimed at sustaining long-term value and growth through strategic assets rather than holding cash .

Apple's long-term debt changed slightly from $100.28 billion in 2019 to $106.63 billion in 2021. This stable yet slight increase indicates a balanced approach to leveraging debt for financing operations and potential growth opportunities, while maintaining manageable debt levels to reduce financial risk .

Apple's total assets grew from $340.62 billion in DEC '19 to $381.19 billion in DEC '21, reflecting a strategic investment in both current and long-term assets. This growth suggests Apple is actively expanding its asset base, possibly to support increased production capacity or new technology development, aligning with their long-term growth objectives .

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