Summary of Significant Accounting Policies |
12 Months Ended |
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Sep. 26, 2026 | |
| 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. The preparation of these consolidated financial statements and accompanying notes in conformity with GAAP requires the use of management 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 2026, 2025 and 2024 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 Income Taxes Beginning with the 2026 annual reporting period, the Company adopted the FASB’s ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 also requires the Company to disaggregate its income taxes paid disclosure by federal, state and local, and foreign taxes, with further disaggregation required for significant individual jurisdictions. The Company adopted ASU 2023-09 using a prospective transition method. Revenue The Company records revenue net of taxes collected from customers that are remitted to governmental authorities. Share-Based Compensation The Company recognizes share-based compensation expense on a straight-line basis for its estimate of equity awards that will ultimately vest. Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are treated as cash equivalents. Trade Receivables Trade receivables are stated at transaction price. Marketable Securities 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 Property, plant and equipment are stated at cost. Depreciation on property, plant and equipment is recognized on a straight-line basis. Intangible Assets Intangible assets are stated at cost. Derivative Instruments The Company presents derivative assets and liabilities at their gross fair values in the Consolidated Balance Sheets. Income Taxes The Company records certain deferred tax assets and liabilities in connection with the minimum tax on certain foreign earnings created by the TCJA. Leases The Company combines and accounts for lease and nonlease components as a single lease component for leases of corporate and retail facilities.
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