Apple FY 2024 Annual Report Visualization
How did Apple absorb a $10.2 billion tax hit in 2024 while still demonstrating financial strength?
The Apple Inc. 2024 fiscal year (ending September 28, 2024) 10K report provides detailed disclosures on the company's financial performance, balance sheet, cash flow, and significant accounting policies and notes. The core of the report presents the company's operational performance during the reporting period (net sales and net income slightly decreased, but gross margin and operating income improved), a robust financial structure (substantial cash and marketable securities, controllable debt levels), and sustained capital returns (large-scale share repurchases and dividend payments). It also details key matters affecting financial condition, especially a significant one-time income tax expense due to the European Commission's State Aid Decision, and the company's specific accounting treatments and risk disclosures related to revenue recognition, financial instrument management, leases, share-based compensation, and global operating segments.
