How We Addressed the
Matter in Our AuditWe tested controls relating to the evaluation of uncertain tax positions, including controls
over management’s assessment as to whether tax positions are more likely than not to be
sustained, management’s process to measure the benefit of its tax positions, and the
development of the related disclosures.
To evaluate Apple Inc.’s assessment of which tax positions are more likely than not to be
sustained, our audit procedures included, among others, reading and evaluating
management’s assumptions and analysis, and, as applicable, Apple Inc.’s communications
with taxing authorities, that detailed the basis and technical merits of the uncertain tax
positions. We involved our tax subject matter resources in assessing the technical merits of
certain of Apple Inc.’s tax positions based on our knowledge of relevant tax laws and
experience with related taxing authorities. For certain tax positions, we also received
external legal counsel confirmation letters and discussed the matters with external advisors
and Apple Inc. tax personnel. In addition, we evaluated Apple Inc.’s disclosure in relation to
these matters included in Note 5 to the financial statements.
/s/ Ernst & Young  LLP
We have served as Apple Inc.’s auditor since 2009.
San Jose, California
October 27, 2022
Apple Inc. | 2022  Form 10-K | 51

Addressed
 Matter tested controls uncertain tax positions
 assessment
 benefit
 development disclosures.
 Apple Inc.
 audit procedures included
 assumptions analysis. communications
 taxing authorities uncertain
. involved tax resources assessing merits
 Apple. tax positions tax laws
 experience taxing authorities. received
 external legal counsel confirmation letters discussed advisors
 Apple. tax personnel. evaluated Apple. disclosure
 matters Note 5 financial statements.
 Ernst & Young LLP
 served Apple Inc. auditor since 2009.
 San Jose California
 October 27, 2022
 Apple. 2022 Form 10-K 51


ase liabilities  2,400  2,406
Deferred revenue  5,742  5,399
Unrealized losses  2,913  53
Tax credit carryforwards  6,962  4,262
Other  1,596  1,639
Total deferred tax assets  27,624  25,229
Less: Valuation allowance  (7,530)  (4,903)
Total deferred tax assets, net  20,094  20,326
Deferred tax liabilities:
Minimum tax on foreign earnings  1,983  4,318
Right-of-use assets  2,163  2,167
Unrealized gains  942  203
Other  469  565
Total deferred tax liabilities  5,557  7,253
Net deferred tax assets $ 14,537 $

liabilities 2,400 2,406
 revenue 5,742
 losses 2,913
 carryforwards 4,262
 1,596
 assets 27,624 25,229
 20,094
 earnings 1,983 4,318
-use 2,163
 gains 942
 5,557 7,253
 14,537


Exhibit 31.2
CERTIFICATION
I, Luca Maestri, certify that:
1.I have reviewed this annual report on Form 10-K of Apple Inc.;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods
presented in this report;
4.The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act

Exhibit 31. 2
 CERTIFICATION
 I Luca Maestri certify
. reviewed annual report Form 10-K Apple Inc.
. report contain untrue statement
 not
 misleading period
. financial statements financial information report present
 financial condition results operations cash flows Registrant periods
 presented
. Registrant’s certifying officer(s) and I responsible establishing disclosure controls
 procedures Exchange Act


Apple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)
September 24,
2022September 25,
2021
ASSETS:
Current assets:
Cash and cash equivalents $ 23,646 $ 34,940
Marketable securities  24,658  27,699
Accounts receivable, net  28,184  26,278
Inventories  4,946  6,580
Vendor non-trade receivables  32,748  25,228
Other current assets  21,223  14,111
Total current assets  135,405  134,836
Non-current assets:
Marketable securities  120,805  127,877
Property, plant and equipment, net  42,117  39,440
Other non-current assets  54,428

Apple.
 24 25 Cash equivalents 23,646 34,940
 securities 24,658 27,699
 28,184
 Inventories
 receivables 32,748 25,228
 21,223 14,111
 135,405 134,836
 securities 120,805 127,877
 Property 42,117 39,440
 54,428


 2031 Notes).
7

Notes.


The Company’s new products 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, can be affected for any
number of reasons, including if suppliers decide to concentrate on the production of common components instead of components
customized to meet the Company’s requirements. When the Company’s supply of components for a new or existing product has
been delayed or constrained, or when an outsourcing partner has delayed shipments of completed products to the Company, the
Company’s business, results of operations and financial condition have been adversely affected and future delays or constraints
could materially adversely affect the Company’s business, results of operations and financial condition. The Company’s business
and financial performance could also

new products utilize custom components from one source.
 new technologies capacity constraints exist until suppliers’ yields matured or manufacturing
 capacities increased. availability components at prices
 including suppliers production common components instead
 customized. supply components for new
 delayed outsourcing partner delayed shipments products
 business results operations financial condition affected future delays
 could affect. business
 financial performance


Note 7 – Debt
Commercial Paper  and Repurchase Agreements
The Company issues unsecured short-term promissory notes (“Commercial Paper”) pursuant to a commercial paper program.
The Company uses net proceeds from the commercial paper program for general corporate purposes, including dividends and
share repurchases. As of September  24, 2022  and September  25, 2021 , the Company had $10.0 billion  and $6.0 billion  of
Commercial Paper outstanding, respectively, with maturities generally less than nine months . The weighted-average interest rate
of the Company’s Commercial Paper was 2.31%  and 0.06%  as of September 24, 2022  and September 25, 2021 , respectively.
The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for
2022 , 2021  and 2020  (in millions

Debt
 Commercial Paper Repurchase Agreements
 Company issues unsecured promissory notes.
 uses proceeds purposes dividends
 repurchases. September 2022 2021 $10. billion $6. billion
 Paper maturities less nine months. weighted-average interest rate
 2. 31% 0. 06%.
 cash flows issuance maturities Commercial Paper
 2022 2021 2020


Total lease liabilities $ 12,411 $ 11,803
Lease liability maturities as of September 24, 2022 , are as follows (in millions):
Operating
LeasesFinance
Leases Total
2023 $ 1,758 $ 155 $ 1,913
2024  1,742  130  1,872
2025  1,677  81  1,758
2026  1,382  48  1,430
2027  1,143  34  1,177
Thereafter  5,080  906  5,986
Total undiscounted liabilities  12,782  1,354  14,136
Less: Imputed interest  (1,312)  (413)  (1,725)
Total lease liabilities $ 11,470 $ 941 $ 12,411
The weighted-average

 lease liabilities 12,411 11,803
 September 24 2022
 2023 1,758 1,913
 2024
 2025
 2026 2027
 5,080
 liabilities 12,782 1,354 14,136
 Imputed interest (1,312)
 11,470 941 12,411


 example,
the gross margins on the Company’s products and services vary significantly and can change over time. The Company’s gross
margins are subject to volatility and downward pressure due to a variety of factors, including: continued industry-wide global
product pricing pressures and product pricing actions that the Company may take in response to such pressures; increased
competition; the Company’s ability to effectively stimulate demand for certain of its products and services; compressed product
life cycles; supply shortages; potential increases in the cost of components, outside manufacturing services, and developing,
acquiring and delivering content for the Company’s services; the Company’s ability to manage product quality and warranty costs
effectively; shifts in the mix of products and services, or in the geographic, currency or channel mix, including to the extent that
regulatory changes require the Company to modify its product and service offerings; fluctuations in foreign exchange rates;
inflation and other macroeconomic pressures; and the introduction of new products or services, including new products or
services with higher cost structures. These and other factors could have a materially adverse impact on the Company’s results of
operations and financial condition.
The Company has historically experienced higher net sales in its first quarter compared to other quarters in its fiscal year due in
part to seasonal holiday demand. Additionally, new product and service introductions can significantly impact net sales, cost of
sales and operating expenses. Further, the Company generates a significant portion of its net sales from a single product and a
decline in demand for that product could significantly impact quarterly net sales. The Company could also be subject to
unexpected developments, such as lower-than-anticipated demand for the Company’s products or services, issues with new
product or service introductions, information technology system failures or network disruptions, or failure of one of the
Company’s logistics, components supply, or manufacturing partners.
Apple Inc. | 2022  Form 10-K | 15

 gross margins products services vary change over.
 subject to volatility due to factors
 product pricing pressures increased
 competition demand compressed product
 life cycles supply shortages increases cost components
 product quality warranty costs
 shifts mix products services geographic currency channel mix
 regulatory changes fluctuations foreign exchange rates
 inflation macroeconomic pressures introduction new products services
 higher.
 operations financial condition.
 higher net sales first quarter due
 to seasonal holiday demand. new product service introductions impact net sales cost
 operating expenses. generates net sales from single product
 decline demand impact quarterly net sales. subject to
 unexpected developments lower-than-anticipated demand issues new
 product service introductions information technology failures network disruptions failure
 logistics components supply manufacturing partners.
 Apple Inc. 2022 Form 10-K 15


A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S.
generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions
and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts
and expenditures of the company are being made only in accordance with authorizations of management and directors of the
company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or
disposition of the company’

company’s internal control over financial reporting assurance
 reliability financial reporting preparation financial statements U. S.
 accounting principles. includes policies
 procedures maintenance of records reflect transactions
 dispositions of assets provide assurance transactions recorded necessary
 preparation financial statements. accounting principles receipts
 expenditures made authorizations of management directors
 prevention of unauthorized acquisition use
 disposition of


 in the Director Plan and without further
shareholder approval. RSUs granted under the Director Plan reduce the number of shares available for grant under the plan by a
factor of two times the number of RSUs granted. The Director Plan expires on November 12, 2027 . All RSUs granted under the
Director Plan are entitled to DERs, which are subject to the same vesting and other terms and conditions as the underlying
RSUs. A maximum  of approximately 45 million  shares (split-adjusted) were authorized for issuance pursuant to Director Plan
awards at the time the plan was last amended on November 9, 2021.
Employee Stock Purchase Plan
The Employee Stock Purchase Plan (the “Purchase Plan”) is a shareholder-approved plan under which substantially all
employees may voluntarily enroll to purchase the Company’s common stock through payroll deductions at a price equal to 85%
of the lower of the fair

Director Plan
 shareholder approval. RSUs granted reduce shares
 two times. Plan expires November 12, 2027. RSUs granted
 entitled subject same vesting terms conditions
 RSUs. maximum 45 million shares (split-adjusted authorized issuance
 last amended November 9, 2021.
 Employee Stock Purchase Plan
 shareholder-approved
 employees purchase Company’s common stock payroll deductions price equal 85%


 $18.2 billion , $19.0 billion  and $10.8 billion  for 2022 , 2021  and
2020 , respectively. The majority of RSUs that vested in 2022 , 2021  and 2020  were net share settled such that the Company
withheld shares with a value equivalent to the employees’ obligation for the applicable income and other employment taxes, and
remitted the cash to the appropriate taxing authorities. The total shares withheld were approximately 41 million , 53 million  and 56
million  for 2022 , 2021  and 2020 , respectively, and were based on the value of the RSUs on their respective vesting dates as
determined by the Company’s closing stock price. Total  payments to taxing authorities for employees’ tax obligations were $6.4
billion , $6.8 billion  and $3.9 billion  in 2022 , 2021  and 2020 , respectively.
Apple Inc. | 2022

$18. billion $19. billion $10. 8 billion 2022 2021
. majority RSUs net share settled
 withheld shares taxes
 remitted cash taxing authorities. total shares withheld 41 million 53 million 56
 million 2022 based vesting
 closing stock price. payments obligations $6.
 billion $6. 8 billion $3. 9 billion 2022 2021.
 Apple.


, in relation to any Comparable Government Bond Rate calculation
for the 2022 Notes, the 2024 Notes, the 2026 Notes and the 2027 Notes, at the discretion of an independent
investment bank selected by us, a German government bond whose maturity is closest to the maturity of the Notes
being redeemed, or if such independent investment bank in its discretion determines that such similar bond is not in
issue, such other German government bond as such independent investment bank may, with the advice of three
brokers of, and/or market makers in, German government bonds selected by us, determine to be appropriate for
determining the Comparable Government Bond Rate.
“Comparable Government Bond” means, in relation to any Comparable Government Bond Rate calculation
for the 3.050% 2029 Notes and the 2042 Notes, at the discretion of an independent investment bank selected by us,
a United Kingdom government bond whose maturity

Comparable Government Bond Rate calculation
 2022 2024 2026 2027 Notes discretion independent
 investment bank German government bond maturity closest Notes
 redeemed similar bond not
 issue other German government bond advice three
 brokers market makers German government bonds appropriate
 Comparable Government Bond Rate.
 “Comparable Government
 3. 050% 2029 Notes 2042 Notes
 United Kingdom government bond maturity


 meeting of shareholders or to nominate
candidates for election as directors at a meeting of shareholders must provide notice in writing in a
timely manner, and also specify requirements as to the form and content of a shareholder’s notice,
including with respect to a shareholder’s notice under Rule 14a-19 of the Exchange Act;
•provide that a shareholder, or group of up to 20 shareholders, that has owned continuously for at least
three years shares of Common Stock representing an aggregate of at least 3% of the Company’s
outstanding shares of Common Stock, may nominate and include in the Company’s proxy materials
director nominees constituting up to 20% of the Company’s Board of Directors, provided that the
shareholder(s) and nominee(s) satisfy the requirements in the Bylaws;
•do not provide for cumulative voting rights for the election of directors; and

meeting shareholders nominate
 candidates directors provide notice
 timely specify requirements form content shareholder’s notice
 Rule 14a-19 Exchange Act
 shareholder 20 owned
 three years shares Common Stock 3% Company’s
 outstanding shares may nominate proxy materials
 director nominees 20% Board Directors
 nominee satisfy requirements Bylaws
 provide cumulative voting rights election directors


Uncertain Tax Positions
As of September  24, 2022 , the total amount of gross unrecognized tax benefits was $16.8 billion , of which $8.0 billion , if
recognized, would impact the Company’s effective tax rate. As of September 25, 2021 , the total amount of gross unrecognized
tax benefits was $15.5 billion , of which $6.6 billion , if recognized, would have impacted the Company’s effective tax rate.
The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2022 , 2021
and 2020 , is as follows (in millions):
2022 2021 2020
Beginning balances $ 15,477 $ 16,475 $ 15,619
Increases related to tax positions taken during a prior year  2,284  816  454
Decreases related to tax positions taken during a prior year  (1

Uncertain Tax Positions
 September 24, 2022 unrecognized tax benefits $16. 8 billion $8. billion
 tax rate. September 25, 2021
 $15. 5 billion $6. 6 billion tax rate.
 aggregate change unrecognized tax benefits penalties 2022 2021
 2020
 balances $ 15,477 $ 16,475 15,619
 Increases 2,284 816
 Decreases


The Company’s future performance depends in part on support from third-party software developers.
The Company believes decisions by customers to purchase its hardware products depend in part on the availability of third-party
software applications and services. There can be no assurance third-party developers will continue to develop and maintain
software applications and services for the Company’s products. If third-party software applications and services cease to be
developed and maintained for the Company’s products, customers may choose not to buy the Company’s products.
The Company believes the availability of third-party software applications and services for its products depends in part on the
developers’ perception and analysis of the relative benefits of developing, maintaining and upgrading such software and services
for the Company’s products compared to competitors’ platforms, such as Android for smartphones and tablets, Windows for
personal computers and tablets, and PlayStation, Nintendo and Xbox for gaming

future performance depends on support third-party software developers.
 believes decisions customers hardware products depend on availability third-party
 applications services. no third-party developers develop
. If third-party applications cease
 customers may choose not buy.
 believes availability third-party software depends on
 developers’ perception benefits developing maintaining upgrading software
 compared to platforms Android Windows
 PlayStation Nintendo Xbox


Note 3 – Financial Instruments
Cash, Cash Equivalents and Marketable Securities
The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category
as of September 24, 2022  and September 25, 2021  (in millions):
2022
Adjusted
CostUnrealized
GainsUnrealized
LossesFair
ValueCash and
Cash
EquivalentsCurrent
Marketable
SecuritiesNon-Current
Marketable
Securities
Cash $ 18,546 $ — $ — $ 18,546 $ 18,546 $ — $ —
Level 1 (1):
Money market funds  2,929  —  —  2,929  2,929  —  —
Mutual funds  274  —  (47)  227  —  227  —
Subtotal  3,203  —  (47)  3,156  2,929  227  —
Level 2 (2):
U.S. Treasury securities  25,134  —  (1,725)  23,409  338  5,091  17,980
U.S. agency securities  5,823  —  (655)  5,168  —  240  4,928
Non-U.S. government securities  16,948  2  (1,201)  15,749  —  8,806  6,943
Certificates of deposit and time deposits  2,067  —  —  2,067  1,805  262  —
Commercial paper  718  —  —  718  28  690  —
Corporate debt securities  87,148  9  (7,707)  79,450  —  9,023  70,427
Municipal securities  921  —  (35)  886  —  266  620
Mortgage- and asset-backed securities  22,553  —  (2,593)  19,960  —  53  19,907
Subtotal  161,312  11  (13,916)  147,407  2,171  24,431  120,805
Total (3)$ 183,061 $ 11 $ (13,963) $ 169,109 $ 23,646 $ 24,658 $ 120,805
2021
Adjusted
CostUnrealized
GainsUnrealized
LossesFair
ValueCash and
Cash
EquivalentsCurrent
Marketable
SecuritiesNon-Current
Marketable
Securities
Cash $ 17,305 $ — $ — $ 17,305 $ 17

3 Financial Instruments
 Cash Equivalents Marketable Securities
 tables show cash equivalents marketable securities investment category
 September 24 2022 25 2021
 Adjusted
 CostUnrealized GainsUnrealized
 ValueCash 18,546
 Level 1
 Money market funds 2,929
 Mutual funds 274
 Subtotal 3,203
 Level 2
. Treasury securities 25,134 23,409 338 5,091 17,980
. securities 5,168
 Non. government securities 16,948 15,749 8,806
 Certificates deposit deposits 2,067
 Commercial paper 718
 Corporate debt securities 87,148,450,023 70,427
 Municipal securities 921
 Mortgage-backed securities 22,553 (2,593) 19,960
 Subtotal 161,312 147,407 24,431 120,805
 Total 183,061 169,109
 Adjusted 17,305


Business Risks
To remain competitive and stimulate customer demand, the Company must successfully manage frequent introductions
and transitions of products and services.
Due to the highly volatile and competitive nature of the markets and industries in which the Company competes, the Company
must continually introduce new products, services and technologies, enhance existing products and services, effectively
stimulate customer demand for new and upgraded products and services, and successfully manage the transition to these new
and upgraded products and services. The success of new product and service introductions depends on a number of factors,
including timely and successful development, market acceptance, the Company’s ability to manage the risks associated with
production ramp-up issues, the availability of application software for the Company’s products, the effective management of
purchase commitments and inventory levels in line with anticipated product demand, the availability of products in appropriate
quantities and at expected costs to meet anticipated demand, and

Business Risks
 competitive stimulate demand Company must manage introductions
 transitions of products services.
 volatile markets industries
 introduce new products services technologies enhance products
 stimulate demand manage transition
. success of new introductions depends on factors
 timely development market acceptance risks
 production ramp-up application software management of
 purchase commitments inventory levels demand availability products in
 quantities costs


 Additional Amounts
The terms of the Notes state that all payments of principal and interest in respect of the Notes will be made
free and clear of, and without deduction or withholding for or on account of any present or future taxes, duties,
assessments or other governmental charges of whatsoever nature required to be deducted or withheld by the United
States or any political subdivision or taxing authority of or in the United States, unless such withholding or deduction
is required by law.
All of the Notes also contain a covenant substantially similar to the following:
The Company will, subject to the exceptions and limitations set forth below, pay as additional interest on the
Notes such additional amounts (“Additional Amounts”) as are necessary in order that the net payment by the
Company or the paying agent of the Company for the applicable Notes (“Paying Agent”) of the principal of and
interest on the Notes to a holder who

Additional Amounts
 Notes state payments principal interest
 free without deduction withholding present future taxes duties
 assessments governmental charges required deducted withheld by United
 States political subdivision taxing authority unless withholding deduction
 required by law.
 Notes contain covenant similar
 Company subject exceptions limitations pay additional interest on
 Notes amounts necessary net payment
 Company paying agent principal
 interest to holder


 for the Company to license or otherwise distribute their content. Other content owners, providers or distributors may
seek to limit the Company’s access to, or increase the cost of, such content. The Company may be unable to continue to offer a
wide variety of content at commercially reasonable prices with acceptable usage rules.
The Company also produces its own digital content, which can be costly to produce due to intense and increasing competition for
talent, content and subscribers, and may fail to appeal to the Company’s customers. The COVID-19 pandemic has also caused
additional restrictions on production and increased costs for digital content.
Some third-party digital content providers require the Company to provide digital rights management and other security solutions.
If requirements change, the Company may have to develop or license new technology to provide these solutions. There can be
no assurance the Company will be able to develop or license such solutions at a reasonable cost and

Company license distribute content. Other owners providers distributors
 limit access increase cost content. may offer
 variety content reasonable prices usage rules.
 Company produces digital content costly competition
 appeal customers. COVID-19 pandemic caused
 restrictions production increased costs content.
 third-party content providers require digital rights management security solutions.
 If requirements change develop license new technology.
 no solutions reasonable cost