Question: Calculate ExxonMobil’s ROA for the six months ended June 30, 2024.

ROA= Net Income/ Total Assets ×100= 17,460/460,707 ×100=3.79%
ROA indicates ExxonMobil's efficiency in generating profit from its assets.

EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3:
PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENT OF INCOME

(millions of dollars, unless noted)		Three Months EndedJune 30,		Six Months EndedJune 30,

2024	2023		2024	2023

Revenues and other income

Sales and other operating revenue		89,986 		80,795 			170,397 		164,439

Income from equity affiliates		1,744 		1,382 			3,586 		3,763

Other income		1,330 		737 			2,160 		1,276

Total revenues and other income		93,060 		82,914 			176,143 		169,478

Costs and other deductions

Crude oil and product purchases		54,199 		47,598 			101,800 		93,601

Production and manufacturing expenses		9,804 		8,860 			18,895 		18,296

Selling, general and administrative expenses		2,568 		2,449 			5,063 		4,839

Depreciation and depletion (includes impairments)		5,787 		4,242 			10,599 		8,486

Exploration expenses, including dry holes		153 		133 			301 		274

Non-service pension and postretirement benefit expense		34 		164 			57 		331

Interest expense		271 		249 			492 		408

Other taxes and duties		6,579 		7,563 			12,902 		14,784

Total costs and other deductions		79,395 		71,258 			150,109 		141,019

Income (loss) before income taxes		13,665 		11,656 			26,034 		28,459

Income tax expense (benefit)		4,094 		3,503 			7,897 		8,463

Net income (loss) including noncontrolling interests		9,571 		8,153 			18,137 		19,996

Net income (loss) attributable to noncontrolling interests		331 		273 			677 		686

Net income (loss) attributable to ExxonMobil		9,240 		7,880 			17,460 		19,310

Earnings (loss) per common share (dollars)		2.14 		1.94 			4.20 		4.73

Earnings (loss) per common share - assuming dilution (dollars)		2.14 		1.94 			4.20 		4.73

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

3

, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5:

CONDENSED CONSOLIDATED BALANCE SHEET

(millions of dollars, unless noted)		June 30, 2024		December 31, 2023

ASSETS

Current assets

Cash and cash equivalents		26,460 			31,539

Cash and cash equivalents – restricted		28 			29

Notes and accounts receivable – net		43,071 			38,015

Inventories

Crude oil, products and merchandise		19,685 			20,528

Materials and supplies		4,818 			4,592

Other current assets		2,176 			1,906

Total current assets		96,238 			96,609

Investments, advances and long-term receivables		47,948 			47,630

Property, plant and equipment – net		298,283 			214,940

Other assets, including intangibles – net		18,238 			17,138

Total Assets		460,707 			376,317

LIABILITIES

Current liabilities

Notes and loans payable		6,621 			4,090

Accounts payable and accrued liabilities		60,107 			58,037

Income taxes payable		4,035 			3,189

Total current liabilities		70,763 			65,316

Long-term debt		36,565 			37,483

Postretirement benefits reserves		10,398 			10,496

Deferred income tax liabilities		40,080 			24,452

Long-term obligations to equity companies		1,612 			1,804

Other long-term obligations		25,023 			24,228

Total Liabilities		184,441 			163,779

Commitments and contingencies (Note 3)

EQUITY

Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)		46,781 			17,781

Earnings reinvested		463,294 			453,927

Accumulated other comprehensive income		(13,187)			(11,989)

Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)		(228,483)			(254,917)

ExxonMobil share of equity		268,405 			204,802

Noncontrolling interests		7,861 			7,736

Total Equity		276,266 			212,538

Total Liabilities and Equity		460,707 			376,317

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

5

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENT OF INCOME

(millions of dollars, unless noted)		Three Months EndedJune 30,		Six Months EndedJune 30,

2024	2023		2024	2023

Revenues and other income

Sales and other operating revenue		89,986 		80,795 			170,397 		164,439

Income from equity affiliates		1,744 		1,382 			3,586 		3,763

Other income		1,330 		737 			2,160 		1,276

Total revenues and other income		93,060 		82,914 			176,143 		169,478

Costs and other deductions

Crude oil and product purchases		54,199 		47,598 			101,800 		93,601

Production and manufacturing expenses		9,804 		8,860 			18,895 		18,296

Selling, general and administrative expenses		2,568 		2,449 			5,063 		4,839

Depreciation and depletion (includes impairments)		5,787 		4,242 			10,599 		8,486

Exploration expenses, including dry holes		153 		133 			301 		274

Non-service pension and postretirement benefit expense		34 		164 			57 		331

Interest expense		271 		249 			492 		408

Other taxes and duties		6,579 		7,563 			12,902 		14,784

Total costs and other deductions		79,395 		71,258 			150,109 		141,019

Income (loss) before income taxes		13,665 		11,656 			26,034 		28,459

Income tax expense (benefit)		4,094 		3,503 			7,897 		8,463

Net income (loss) including noncontrolling interests		9,571 		8,153 			18,137 		19,996

Net income (loss) attributable to noncontrolling interests		331 		273 			677 		686

Net income (loss) attributable to ExxonMobil		9,240 		7,880 			17,460 		19,310

Earnings (loss) per common share (dollars)		2.14 		1.94 			4.20 		4.73

Earnings (loss) per common share - assuming dilution (dollars)		2.14 		1.94 			4.20 		4.73

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

3

,

CONDENSED CONSOLIDATED BALANCE SHEET

(millions of dollars, unless noted)		June 30, 2024		December 31, 2023

ASSETS

Current assets

Cash and cash equivalents		26,460 			31,539

Cash and cash equivalents – restricted		28 			29

Notes and accounts receivable – net		43,071 			38,015

Inventories

Crude oil, products and merchandise		19,685 			20,528

Materials and supplies		4,818 			4,592

Other current assets		2,176 			1,906

Total current assets		96,238 			96,609

Investments, advances and long-term receivables		47,948 			47,630

Property, plant and equipment – net		298,283 			214,940

Other assets, including intangibles – net		18,238 			17,138

Total Assets		460,707 			376,317

LIABILITIES

Current liabilities

Notes and loans payable		6,621 			4,090

Accounts payable and accrued liabilities		60,107 			58,037

Income taxes payable		4,035 			3,189

Total current liabilities		70,763 			65,316

Long-term debt		36,565 			37,483

Postretirement benefits reserves		10,398 			10,496

Deferred income tax liabilities		40,080 			24,452

Long-term obligations to equity companies		1,612 			1,804

Other long-term obligations		25,023 			24,228

Total Liabilities		184,441 			163,779

Commitments and contingencies (Note 3)

EQUITY

Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)		46,781 			17,781

Earnings reinvested		463,294 			453,927

Accumulated other comprehensive income		(13,187)			(11,989)

Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)		(228,483)			(254,917)

ExxonMobil share of equity		268,405 			204,802

Noncontrolling interests		7,861 			7,736

Total Equity		276,266 			212,538

Total Liabilities and Equity		460,707 			376,317

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

5


Question: What is ExxonMobil's ROE as of June 30, 2024?

ROE=  Net Income/Total Equity ×100= 17,460 / 276,266 ×100=6.32%
ROE indicates the return generated on shareholders' equity invested in ExxonMobil.

EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 3:
PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENT OF INCOME

(millions of dollars, unless noted)		Three Months EndedJune 30,		Six Months EndedJune 30,

2024	2023		2024	2023

Revenues and other income

Sales and other operating revenue		89,986 		80,795 			170,397 		164,439

Income from equity affiliates		1,744 		1,382 			3,586 		3,763

Other income		1,330 		737 			2,160 		1,276

Total revenues and other income		93,060 		82,914 			176,143 		169,478

Costs and other deductions

Crude oil and product purchases		54,199 		47,598 			101,800 		93,601

Production and manufacturing expenses		9,804 		8,860 			18,895 		18,296

Selling, general and administrative expenses		2,568 		2,449 			5,063 		4,839

Depreciation and depletion (includes impairments)		5,787 		4,242 			10,599 		8,486

Exploration expenses, including dry holes		153 		133 			301 		274

Non-service pension and postretirement benefit expense		34 		164 			57 		331

Interest expense		271 		249 			492 		408

Other taxes and duties		6,579 		7,563 			12,902 		14,784

Total costs and other deductions		79,395 		71,258 			150,109 		141,019

Income (loss) before income taxes		13,665 		11,656 			26,034 		28,459

Income tax expense (benefit)		4,094 		3,503 			7,897 		8,463

Net income (loss) including noncontrolling interests		9,571 		8,153 			18,137 		19,996

Net income (loss) attributable to noncontrolling interests		331 		273 			677 		686

Net income (loss) attributable to ExxonMobil		9,240 		7,880 			17,460 		19,310

Earnings (loss) per common share (dollars)		2.14 		1.94 			4.20 		4.73

Earnings (loss) per common share - assuming dilution (dollars)		2.14 		1.94 			4.20 		4.73

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

3

, EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5:

CONDENSED CONSOLIDATED BALANCE SHEET

(millions of dollars, unless noted)		June 30, 2024		December 31, 2023

ASSETS

Current assets

Cash and cash equivalents		26,460 			31,539

Cash and cash equivalents – restricted		28 			29

Notes and accounts receivable – net		43,071 			38,015

Inventories

Crude oil, products and merchandise		19,685 			20,528

Materials and supplies		4,818 			4,592

Other current assets		2,176 			1,906

Total current assets		96,238 			96,609

Investments, advances and long-term receivables		47,948 			47,630

Property, plant and equipment – net		298,283 			214,940

Other assets, including intangibles – net		18,238 			17,138

Total Assets		460,707 			376,317

LIABILITIES

Current liabilities

Notes and loans payable		6,621 			4,090

Accounts payable and accrued liabilities		60,107 			58,037

Income taxes payable		4,035 			3,189

Total current liabilities		70,763 			65,316

Long-term debt		36,565 			37,483

Postretirement benefits reserves		10,398 			10,496

Deferred income tax liabilities		40,080 			24,452

Long-term obligations to equity companies		1,612 			1,804

Other long-term obligations		25,023 			24,228

Total Liabilities		184,441 			163,779

Commitments and contingencies (Note 3)

EQUITY

Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)		46,781 			17,781

Earnings reinvested		463,294 			453,927

Accumulated other comprehensive income		(13,187)			(11,989)

Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)		(228,483)			(254,917)

ExxonMobil share of equity		268,405 			204,802

Noncontrolling interests		7,861 			7,736

Total Equity		276,266 			212,538

Total Liabilities and Equity		460,707 			376,317

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

5

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENT OF INCOME

(millions of dollars, unless noted)		Three Months EndedJune 30,		Six Months EndedJune 30,

2024	2023		2024	2023

Revenues and other income

Sales and other operating revenue		89,986 		80,795 			170,397 		164,439

Income from equity affiliates		1,744 		1,382 			3,586 		3,763

Other income		1,330 		737 			2,160 		1,276

Total revenues and other income		93,060 		82,914 			176,143 		169,478

Costs and other deductions

Crude oil and product purchases		54,199 		47,598 			101,800 		93,601

Production and manufacturing expenses		9,804 		8,860 			18,895 		18,296

Selling, general and administrative expenses		2,568 		2,449 			5,063 		4,839

Depreciation and depletion (includes impairments)		5,787 		4,242 			10,599 		8,486

Exploration expenses, including dry holes		153 		133 			301 		274

Non-service pension and postretirement benefit expense		34 		164 			57 		331

Interest expense		271 		249 			492 		408

Other taxes and duties		6,579 		7,563 			12,902 		14,784

Total costs and other deductions		79,395 		71,258 			150,109 		141,019

Income (loss) before income taxes		13,665 		11,656 			26,034 		28,459

Income tax expense (benefit)		4,094 		3,503 			7,897 		8,463

Net income (loss) including noncontrolling interests		9,571 		8,153 			18,137 		19,996

Net income (loss) attributable to noncontrolling interests		331 		273 			677 		686

Net income (loss) attributable to ExxonMobil		9,240 		7,880 			17,460 		19,310

Earnings (loss) per common share (dollars)		2.14 		1.94 			4.20 		4.73

Earnings (loss) per common share - assuming dilution (dollars)		2.14 		1.94 			4.20 		4.73

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

3

,

CONDENSED CONSOLIDATED BALANCE SHEET

(millions of dollars, unless noted)		June 30, 2024		December 31, 2023

ASSETS

Current assets

Cash and cash equivalents		26,460 			31,539

Cash and cash equivalents – restricted		28 			29

Notes and accounts receivable – net		43,071 			38,015

Inventories

Crude oil, products and merchandise		19,685 			20,528

Materials and supplies		4,818 			4,592

Other current assets		2,176 			1,906

Total current assets		96,238 			96,609

Investments, advances and long-term receivables		47,948 			47,630

Property, plant and equipment – net		298,283 			214,940

Other assets, including intangibles – net		18,238 			17,138

Total Assets		460,707 			376,317

LIABILITIES

Current liabilities

Notes and loans payable		6,621 			4,090

Accounts payable and accrued liabilities		60,107 			58,037

Income taxes payable		4,035 			3,189

Total current liabilities		70,763 			65,316

Long-term debt		36,565 			37,483

Postretirement benefits reserves		10,398 			10,496

Deferred income tax liabilities		40,080 			24,452

Long-term obligations to equity companies		1,612 			1,804

Other long-term obligations		25,023 			24,228

Total Liabilities		184,441 			163,779

Commitments and contingencies (Note 3)

EQUITY

Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)		46,781 			17,781

Earnings reinvested		463,294 			453,927

Accumulated other comprehensive income		(13,187)			(11,989)

Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)		(228,483)			(254,917)

ExxonMobil share of equity		268,405 			204,802

Noncontrolling interests		7,861 			7,736

Total Equity		276,266 			212,538

Total Liabilities and Equity		460,707 			376,317

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

5


Question: What is ExxonMobil’s debt ratio as of June 30, 2024?

Debt Ratio= Total Debt/Total Assets (36,565+6,621)/460,707 =0.094 = 9.4%. This low debt ratio reflects ExxonMobil’s conservative approach to debt.

EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5:

CONDENSED CONSOLIDATED BALANCE SHEET

(millions of dollars, unless noted)		June 30, 2024		December 31, 2023

ASSETS

Current assets

Cash and cash equivalents		26,460 			31,539

Cash and cash equivalents – restricted		28 			29

Notes and accounts receivable – net		43,071 			38,015

Inventories

Crude oil, products and merchandise		19,685 			20,528

Materials and supplies		4,818 			4,592

Other current assets		2,176 			1,906

Total current assets		96,238 			96,609

Investments, advances and long-term receivables		47,948 			47,630

Property, plant and equipment – net		298,283 			214,940

Other assets, including intangibles – net		18,238 			17,138

Total Assets		460,707 			376,317

LIABILITIES

Current liabilities

Notes and loans payable		6,621 			4,090

Accounts payable and accrued liabilities		60,107 			58,037

Income taxes payable		4,035 			3,189

Total current liabilities		70,763 			65,316

Long-term debt		36,565 			37,483

Postretirement benefits reserves		10,398 			10,496

Deferred income tax liabilities		40,080 			24,452

Long-term obligations to equity companies		1,612 			1,804

Other long-term obligations		25,023 			24,228

Total Liabilities		184,441 			163,779

Commitments and contingencies (Note 3)

EQUITY

Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)		46,781 			17,781

Earnings reinvested		463,294 			453,927

Accumulated other comprehensive income		(13,187)			(11,989)

Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)		(228,483)			(254,917)

ExxonMobil share of equity		268,405 			204,802

Noncontrolling interests		7,861 			7,736

Total Equity		276,266 			212,538

Total Liabilities and Equity		460,707 			376,317

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

5


Question: What is the Earnings Per Share (EPS) for Apple Inc. for the nine months ended June 29, 2024?

The Earnings Per Share (EPS) for Apple Inc. for the nine months ended June 29, 2024, is $5.11 (diluted)

Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1:
PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Nine Months Ended

	June 29,2024		July 1,2023		June 29,2024		July 1,2023

Net sales:

   Products	$	61,564 			$	60,584 			$	224,908 			$	230,901

   Services	24,213 			21,213 			71,197 			62,886

Total net sales	85,777 			81,797 			296,105 			293,787

Cost of sales:

   Products	39,803 			39,136 			140,667 			146,696

   Services	6,296 			6,248 			18,634 			18,370

Total cost of sales	46,099 			45,384 			159,301 			165,066

Gross margin	39,678 			36,413 			136,804 			128,721

Operating expenses:

Research and development	8,006 			7,442 			23,605 			22,608

Selling, general and administrative	6,320 			5,973 			19,574 			18,781

Total operating expenses	14,326 			13,415 			43,179 			41,389

Operating income	25,352 			22,998 			93,625 			87,332

Other income/(expense), net	142 			(265)			250 			(594)

Income before provision for income taxes	25,494 			22,733 			93,875 			86,738

Provision for income taxes	4,046 			2,852 			14,875 			12,699

Net income	$	21,448 			$	19,881 			$	79,000 			$	74,039

Earnings per share:

Basic	$	1.40 			$	1.27 			$	5.13 			$	4.69

Diluted	$	1.40 			$	1.26 			$	5.11 			$	4.67

Shares used in computing earnings per share:

Basic	15,287,521 			15,697,614 			15,401,047 			15,792,497

Diluted	15,348,175 			15,775,021 			15,463,175 			15,859,263

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 1


Question: What is the Debt Equity Ratio for Apple Inc. as of June 29, 2024?

The Debt Equity Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:
Debt Equity Ratio = Total Debt / Shareholders' Equity
Total Debt (June 29, 2024) = $98,310 million (current term debt + non-current term debt)
Shareholders' Equity (June 29, 2024) = $66,708 million
Debt Equity Ratio = 98,310 / 66,708 = 1.47

Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	June 29,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	25,565 			$	29,965

Marketable securities	36,236 			31,590

Accounts receivable, net	22,795 			29,508

Vendor non-trade receivables	20,377 			31,477

Inventories	6,165 			6,331

Other current assets	14,297 			14,695

Total current assets	125,435 			143,566

Non-current assets:

Marketable securities	91,240 			100,544

Property, plant and equipment, net	44,502 			43,715

Other non-current assets	70,435 			64,758

Total non-current assets	206,177 			209,017

Total assets	$	331,612 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	47,574 			$	62,611

Other current liabilities	60,889 			58,829

Deferred revenue	8,053 			8,061

Commercial paper	2,994 			5,985

Term debt	12,114 			9,822

Total current liabilities	131,624 			145,308

Non-current liabilities:

Term debt	86,196 			95,281

Other non-current liabilities	47,084 			49,848

Total non-current liabilities	133,280 			145,129

Total liabilities	264,904 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively	79,850 			73,812

Accumulated deficit	(4,726)			(214)

Accumulated other comprehensive loss	(8,416)			(11,452)

Total shareholders' equity	66,708 			62,146

Total liabilities and shareholders' equity	$	331,612 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 3


Question: What is the Current Ratio for Apple Inc. as of June 29, 2024?

The Current Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:
Current Ratio = Current Assets / Current Liabilities
Current Assets (June 29, 2024) = $125,435 million
Current Liabilities (June 29, 2024) = $131,624 million
Current Ratio = 125,435 / 131,624 = 0.95

Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	June 29,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	25,565 			$	29,965

Marketable securities	36,236 			31,590

Accounts receivable, net	22,795 			29,508

Vendor non-trade receivables	20,377 			31,477

Inventories	6,165 			6,331

Other current assets	14,297 			14,695

Total current assets	125,435 			143,566

Non-current assets:

Marketable securities	91,240 			100,544

Property, plant and equipment, net	44,502 			43,715

Other non-current assets	70,435 			64,758

Total non-current assets	206,177 			209,017

Total assets	$	331,612 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	47,574 			$	62,611

Other current liabilities	60,889 			58,829

Deferred revenue	8,053 			8,061

Commercial paper	2,994 			5,985

Term debt	12,114 			9,822

Total current liabilities	131,624 			145,308

Non-current liabilities:

Term debt	86,196 			95,281

Other non-current liabilities	47,084 			49,848

Total non-current liabilities	133,280 			145,129

Total liabilities	264,904 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively	79,850 			73,812

Accumulated deficit	(4,726)			(214)

Accumulated other comprehensive loss	(8,416)			(11,452)

Total shareholders' equity	66,708 			62,146

Total liabilities and shareholders' equity	$	331,612 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 3


Question: What is the Quick Ratio for Apple Inc. as of June 29, 2024?

Method 1: The Quick Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:
Quick Ratio = (Current Assets - Inventory) / Current Liabilities
Current Assets (June 29, 2024) = $125,435 million
Inventory (June 29, 2024) = $6,165 million
Current Liabilities (June 29, 2024) = $131,624 million
Quick Ratio = (125,435 - 6,165) / 131,624 = 0.91
Method 2: The Quick Ratio for Apple Inc. as of June 29, 2024, is calculated as follows:
Quick Ratio = (Cash and Cash Equivalents + Marketable Securities + Accounts Receivable) / Current Liabilities

Values (June 29, 2024):

Cash and Cash Equivalents = $25,565 million
Marketable Securities = $36,236 million
Accounts Receivable, net = $22,795 million
Current Liabilities = $131,624 million
Quick Ratio = (25,565 + 36,236 + 22,795) / 131,624
Quick Ratio = 84,596 / 131,624 ≈ 0.64

The quick ratio indicates that Apple Inc. can cover 64% of its short-term liabilities using only its most liquid assets, excluding inventory.

Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	June 29,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	25,565 			$	29,965

Marketable securities	36,236 			31,590

Accounts receivable, net	22,795 			29,508

Vendor non-trade receivables	20,377 			31,477

Inventories	6,165 			6,331

Other current assets	14,297 			14,695

Total current assets	125,435 			143,566

Non-current assets:

Marketable securities	91,240 			100,544

Property, plant and equipment, net	44,502 			43,715

Other non-current assets	70,435 			64,758

Total non-current assets	206,177 			209,017

Total assets	$	331,612 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	47,574 			$	62,611

Other current liabilities	60,889 			58,829

Deferred revenue	8,053 			8,061

Commercial paper	2,994 			5,985

Term debt	12,114 			9,822

Total current liabilities	131,624 			145,308

Non-current liabilities:

Term debt	86,196 			95,281

Other non-current liabilities	47,084 			49,848

Total non-current liabilities	133,280 			145,129

Total liabilities	264,904 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively	79,850 			73,812

Accumulated deficit	(4,726)			(214)

Accumulated other comprehensive loss	(8,416)			(11,452)

Total shareholders' equity	66,708 			62,146

Total liabilities and shareholders' equity	$	331,612 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 3


Question: What is the Inventory Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024?

The Inventory Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024, is calculated as follows:
Inventory Turnover = Cost of Goods Sold / Average Inventory
Cost of Goods Sold (June 29, 2024) = $159,301 million
Average Inventory = (Inventory at the beginning + Inventory at the end) / 2
Inventory at the beginning (September 30, 2023) = $6,331 million
Inventory at the end (June 29, 2024) = $6,165 million
Average Inventory = (6,331 + 6,165) / 2 = $6,248 million
Inventory Turnover = 159,301 / 6,248 = 25.50

Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1:
PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Nine Months Ended

	June 29,2024		July 1,2023		June 29,2024		July 1,2023

Net sales:

   Products	$	61,564 			$	60,584 			$	224,908 			$	230,901

   Services	24,213 			21,213 			71,197 			62,886

Total net sales	85,777 			81,797 			296,105 			293,787

Cost of sales:

   Products	39,803 			39,136 			140,667 			146,696

   Services	6,296 			6,248 			18,634 			18,370

Total cost of sales	46,099 			45,384 			159,301 			165,066

Gross margin	39,678 			36,413 			136,804 			128,721

Operating expenses:

Research and development	8,006 			7,442 			23,605 			22,608

Selling, general and administrative	6,320 			5,973 			19,574 			18,781

Total operating expenses	14,326 			13,415 			43,179 			41,389

Operating income	25,352 			22,998 			93,625 			87,332

Other income/(expense), net	142 			(265)			250 			(594)

Income before provision for income taxes	25,494 			22,733 			93,875 			86,738

Provision for income taxes	4,046 			2,852 			14,875 			12,699

Net income	$	21,448 			$	19,881 			$	79,000 			$	74,039

Earnings per share:

Basic	$	1.40 			$	1.27 			$	5.13 			$	4.69

Diluted	$	1.40 			$	1.26 			$	5.11 			$	4.67

Shares used in computing earnings per share:

Basic	15,287,521 			15,697,614 			15,401,047 			15,792,497

Diluted	15,348,175 			15,775,021 			15,463,175 			15,859,263

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 1

, Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	June 29,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	25,565 			$	29,965

Marketable securities	36,236 			31,590

Accounts receivable, net	22,795 			29,508

Vendor non-trade receivables	20,377 			31,477

Inventories	6,165 			6,331

Other current assets	14,297 			14,695

Total current assets	125,435 			143,566

Non-current assets:

Marketable securities	91,240 			100,544

Property, plant and equipment, net	44,502 			43,715

Other non-current assets	70,435 			64,758

Total non-current assets	206,177 			209,017

Total assets	$	331,612 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	47,574 			$	62,611

Other current liabilities	60,889 			58,829

Deferred revenue	8,053 			8,061

Commercial paper	2,994 			5,985

Term debt	12,114 			9,822

Total current liabilities	131,624 			145,308

Non-current liabilities:

Term debt	86,196 			95,281

Other non-current liabilities	47,084 			49,848

Total non-current liabilities	133,280 			145,129

Total liabilities	264,904 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively	79,850 			73,812

Accumulated deficit	(4,726)			(214)

Accumulated other comprehensive loss	(8,416)			(11,452)

Total shareholders' equity	66,708 			62,146

Total liabilities and shareholders' equity	$	331,612 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 3

PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Nine Months Ended

	June 29,2024		July 1,2023		June 29,2024		July 1,2023

Net sales:

   Products	$	61,564 			$	60,584 			$	224,908 			$	230,901

   Services	24,213 			21,213 			71,197 			62,886

Total net sales	85,777 			81,797 			296,105 			293,787

Cost of sales:

   Products	39,803 			39,136 			140,667 			146,696

   Services	6,296 			6,248 			18,634 			18,370

Total cost of sales	46,099 			45,384 			159,301 			165,066

Gross margin	39,678 			36,413 			136,804 			128,721

Operating expenses:

Research and development	8,006 			7,442 			23,605 			22,608

Selling, general and administrative	6,320 			5,973 			19,574 			18,781

Total operating expenses	14,326 			13,415 			43,179 			41,389

Operating income	25,352 			22,998 			93,625 			87,332

Other income/(expense), net	142 			(265)			250 			(594)

Income before provision for income taxes	25,494 			22,733 			93,875 			86,738

Provision for income taxes	4,046 			2,852 			14,875 			12,699

Net income	$	21,448 			$	19,881 			$	79,000 			$	74,039

Earnings per share:

Basic	$	1.40 			$	1.27 			$	5.13 			$	4.69

Diluted	$	1.40 			$	1.26 			$	5.11 			$	4.67

Shares used in computing earnings per share:

Basic	15,287,521 			15,697,614 			15,401,047 			15,792,497

Diluted	15,348,175 			15,775,021 			15,463,175 			15,859,263

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 1

,
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	June 29,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	25,565 			$	29,965

Marketable securities	36,236 			31,590

Accounts receivable, net	22,795 			29,508

Vendor non-trade receivables	20,377 			31,477

Inventories	6,165 			6,331

Other current assets	14,297 			14,695

Total current assets	125,435 			143,566

Non-current assets:

Marketable securities	91,240 			100,544

Property, plant and equipment, net	44,502 			43,715

Other non-current assets	70,435 			64,758

Total non-current assets	206,177 			209,017

Total assets	$	331,612 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	47,574 			$	62,611

Other current liabilities	60,889 			58,829

Deferred revenue	8,053 			8,061

Commercial paper	2,994 			5,985

Term debt	12,114 			9,822

Total current liabilities	131,624 			145,308

Non-current liabilities:

Term debt	86,196 			95,281

Other non-current liabilities	47,084 			49,848

Total non-current liabilities	133,280 			145,129

Total liabilities	264,904 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively	79,850 			73,812

Accumulated deficit	(4,726)			(214)

Accumulated other comprehensive loss	(8,416)			(11,452)

Total shareholders' equity	66,708 			62,146

Total liabilities and shareholders' equity	$	331,612 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 3


Question: What is the Receivables Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024?

The Receivables Turnover Ratio for Apple Inc. for the nine months ended June 29, 2024, is calculated as follows:
Receivables Turnover = Net Credit Sales / Average Accounts Receivable
Net Credit Sales (June 29, 2024) = $296,105 million
Average Accounts Receivable = (Accounts Receivable at the beginning + Accounts Receivable at the end) / 2
Accounts Receivable at the beginning (September 30, 2023) = $29,508 million
Accounts Receivable at the end (June 29, 2024) = $22,795 million
Average Accounts Receivable = (29,508 + 22,795) / 2 = $26,152 million
Receivables Turnover = 296,105 / 26,152 = 11.32

Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 1:
PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Nine Months Ended

	June 29,2024		July 1,2023		June 29,2024		July 1,2023

Net sales:

   Products	$	61,564 			$	60,584 			$	224,908 			$	230,901

   Services	24,213 			21,213 			71,197 			62,886

Total net sales	85,777 			81,797 			296,105 			293,787

Cost of sales:

   Products	39,803 			39,136 			140,667 			146,696

   Services	6,296 			6,248 			18,634 			18,370

Total cost of sales	46,099 			45,384 			159,301 			165,066

Gross margin	39,678 			36,413 			136,804 			128,721

Operating expenses:

Research and development	8,006 			7,442 			23,605 			22,608

Selling, general and administrative	6,320 			5,973 			19,574 			18,781

Total operating expenses	14,326 			13,415 			43,179 			41,389

Operating income	25,352 			22,998 			93,625 			87,332

Other income/(expense), net	142 			(265)			250 			(594)

Income before provision for income taxes	25,494 			22,733 			93,875 			86,738

Provision for income taxes	4,046 			2,852 			14,875 			12,699

Net income	$	21,448 			$	19,881 			$	79,000 			$	74,039

Earnings per share:

Basic	$	1.40 			$	1.27 			$	5.13 			$	4.69

Diluted	$	1.40 			$	1.26 			$	5.11 			$	4.67

Shares used in computing earnings per share:

Basic	15,287,521 			15,697,614 			15,401,047 			15,792,497

Diluted	15,348,175 			15,775,021 			15,463,175 			15,859,263

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 1

, Apple Inc. 10-Q form for quarterly period ended 2024-06-29, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	June 29,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	25,565 			$	29,965

Marketable securities	36,236 			31,590

Accounts receivable, net	22,795 			29,508

Vendor non-trade receivables	20,377 			31,477

Inventories	6,165 			6,331

Other current assets	14,297 			14,695

Total current assets	125,435 			143,566

Non-current assets:

Marketable securities	91,240 			100,544

Property, plant and equipment, net	44,502 			43,715

Other non-current assets	70,435 			64,758

Total non-current assets	206,177 			209,017

Total assets	$	331,612 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	47,574 			$	62,611

Other current liabilities	60,889 			58,829

Deferred revenue	8,053 			8,061

Commercial paper	2,994 			5,985

Term debt	12,114 			9,822

Total current liabilities	131,624 			145,308

Non-current liabilities:

Term debt	86,196 			95,281

Other non-current liabilities	47,084 			49,848

Total non-current liabilities	133,280 			145,129

Total liabilities	264,904 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively	79,850 			73,812

Accumulated deficit	(4,726)			(214)

Accumulated other comprehensive loss	(8,416)			(11,452)

Total shareholders' equity	66,708 			62,146

Total liabilities and shareholders' equity	$	331,612 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 3

PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Nine Months Ended

	June 29,2024		July 1,2023		June 29,2024		July 1,2023

Net sales:

   Products	$	61,564 			$	60,584 			$	224,908 			$	230,901

   Services	24,213 			21,213 			71,197 			62,886

Total net sales	85,777 			81,797 			296,105 			293,787

Cost of sales:

   Products	39,803 			39,136 			140,667 			146,696

   Services	6,296 			6,248 			18,634 			18,370

Total cost of sales	46,099 			45,384 			159,301 			165,066

Gross margin	39,678 			36,413 			136,804 			128,721

Operating expenses:

Research and development	8,006 			7,442 			23,605 			22,608

Selling, general and administrative	6,320 			5,973 			19,574 			18,781

Total operating expenses	14,326 			13,415 			43,179 			41,389

Operating income	25,352 			22,998 			93,625 			87,332

Other income/(expense), net	142 			(265)			250 			(594)

Income before provision for income taxes	25,494 			22,733 			93,875 			86,738

Provision for income taxes	4,046 			2,852 			14,875 			12,699

Net income	$	21,448 			$	19,881 			$	79,000 			$	74,039

Earnings per share:

Basic	$	1.40 			$	1.27 			$	5.13 			$	4.69

Diluted	$	1.40 			$	1.26 			$	5.11 			$	4.67

Shares used in computing earnings per share:

Basic	15,287,521 			15,697,614 			15,401,047 			15,792,497

Diluted	15,348,175 			15,775,021 			15,463,175 			15,859,263

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 1

,
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	June 29,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	25,565 			$	29,965

Marketable securities	36,236 			31,590

Accounts receivable, net	22,795 			29,508

Vendor non-trade receivables	20,377 			31,477

Inventories	6,165 			6,331

Other current assets	14,297 			14,695

Total current assets	125,435 			143,566

Non-current assets:

Marketable securities	91,240 			100,544

Property, plant and equipment, net	44,502 			43,715

Other non-current assets	70,435 			64,758

Total non-current assets	206,177 			209,017

Total assets	$	331,612 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	47,574 			$	62,611

Other current liabilities	60,889 			58,829

Deferred revenue	8,053 			8,061

Commercial paper	2,994 			5,985

Term debt	12,114 			9,822

Total current liabilities	131,624 			145,308

Non-current liabilities:

Term debt	86,196 			95,281

Other non-current liabilities	47,084 			49,848

Total non-current liabilities	133,280 			145,129

Total liabilities	264,904 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively	79,850 			73,812

Accumulated deficit	(4,726)			(214)

Accumulated other comprehensive loss	(8,416)			(11,452)

Total shareholders' equity	66,708 			62,146

Total liabilities and shareholders' equity	$	331,612 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q3 2024 Form 10-Q | 3


Question: What is the Return on Equity (ROE) for Apple Inc. for the six months ended March 30, 2024?

The Return on Equity (ROE) for Apple Inc. for the six months ended March 30, 2024, is calculated as follows:
ROE = (Net Income / Shareholder's Equity) * 100
Net Income (six months ended March 30, 2024) = $57,552 million
Shareholder's Equity (ending balance) = $74,194 million
ROE = (57,552 / 74,194) * 100 = 77.56%

Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1:
PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 4:
Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)

(In millions, except per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Total shareholders' equity, beginning balances	$	74,100 			$	56,727 			$	62,146 			$	50,672

Common stock and additional paid-in capital:

Beginning balances	75,236 			66,399 			73,812 			64,849

Common stock issued	752 			690 			752 			690

Common stock withheld related to net share settlement of equity awards	(222)			(281)			(1,882)			(1,715)

Share-based compensation	3,049 			2,760 			6,133 			5,744

Ending balances	78,815 			69,568 			78,815 			69,568

Retained earnings/(Accumulated deficit):

Beginning balances	8,242 			3,240 			(214)			(3,068)

Net income	23,636 			24,160 			57,552 			54,158

Dividends and dividend equivalents declared	(3,746)			(3,684)			(7,520)			(7,396)

Common stock withheld related to net share settlement of equity awards	(71)			(152)			(1,089)			(1,130)

Common stock repurchased	(23,722)			(19,228)			(44,390)			(38,228)

Ending balances	4,339 			4,336 			4,339 			4,336

Accumulated other comprehensive income/(loss):

Beginning balances	(9,378)			(12,912)			(11,452)			(11,109)

Other comprehensive income/(loss)	418 			1,166 			2,492 			(637)

Ending balances	(8,960)			(11,746)			(8,960)			(11,746)

Total shareholders' equity, ending balances	$	74,194 			$	62,158 			$	74,194 			$	62,158

Dividends and dividend equivalents declared per share or RSU	$	0.24 			$	0.23 			$	0.48 			$	0.46

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 4

PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

,
Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)

(In millions, except per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Total shareholders' equity, beginning balances	$	74,100 			$	56,727 			$	62,146 			$	50,672

Common stock and additional paid-in capital:

Beginning balances	75,236 			66,399 			73,812 			64,849

Common stock issued	752 			690 			752 			690

Common stock withheld related to net share settlement of equity awards	(222)			(281)			(1,882)			(1,715)

Share-based compensation	3,049 			2,760 			6,133 			5,744

Ending balances	78,815 			69,568 			78,815 			69,568

Retained earnings/(Accumulated deficit):

Beginning balances	8,242 			3,240 			(214)			(3,068)

Net income	23,636 			24,160 			57,552 			54,158

Dividends and dividend equivalents declared	(3,746)			(3,684)			(7,520)			(7,396)

Common stock withheld related to net share settlement of equity awards	(71)			(152)			(1,089)			(1,130)

Common stock repurchased	(23,722)			(19,228)			(44,390)			(38,228)

Ending balances	4,339 			4,336 			4,339 			4,336

Accumulated other comprehensive income/(loss):

Beginning balances	(9,378)			(12,912)			(11,452)			(11,109)

Other comprehensive income/(loss)	418 			1,166 			2,492 			(637)

Ending balances	(8,960)			(11,746)			(8,960)			(11,746)

Total shareholders' equity, ending balances	$	74,194 			$	62,158 			$	74,194 			$	62,158

Dividends and dividend equivalents declared per share or RSU	$	0.24 			$	0.23 			$	0.48 			$	0.46

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 4


Question: What is the Financial Leverage Ratio for Apple Inc. as of March 30, 2024?

The Financial Leverage Ratio for Apple Inc. as of March 30, 2024, is calculated as follows:
Financial Leverage Ratio = Total Assets / Shareholders' Equity
Total Assets = $337,411 million
Shareholders' Equity = $74,194 million
Financial Leverage Ratio = 337,411 / 74,194 = 4.55

Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3


Question: What is the Long-term Debt to Capitalization Ratio for Apple Inc. as of March 30, 2024?

Long-term Debt to Capitalization Ratio = Long-term Debt / (Long-term Debt + Shareholders' Equity) = 91,831 / (91,831 + 74,194) = 0.55

Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3


Question: What is the Cash Ratio for Apple Inc. as of March 30, 2024?

The Cash Ratio for Apple Inc. as of March 30, 2024, is calculated as follows:
Cash Ratio = Cash & Cash Equivalents / Current Liabilities
Cash & Cash Equivalents = $32,695 million
Current Liabilities = $123,822 million
Cash Ratio = 32,695 / 123,822 = 0.26

Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3


Question: What is the Asset Turnover Ratio for Apple Inc. for the six months ended March 30, 2024?

The Asset Turnover Ratio for Apple Inc. for the six months ended March 30, 2024, is calculated as follows:
Asset Turnover Ratio = Net Sales / Average Total Assets
Net Sales (six months ended March 30, 2024) = $210,328 million
Average Total Assets = (Total Assets at March 30, 2024 + Total Assets at September 30, 2023) / 2 = ($337,411 million + $352,583 million) / 2 = $344,997 million
Asset Turnover Ratio = 210,328 / 344,997 = 0.61

Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1:
PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3

PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

,
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3


Question: What is the Days Sales of Inventory (DSI) for Apple Inc. for the six months ended March 30, 2024?

DSI = (Average Inventory / Cost of Goods Sold) * Number of Days = ((6,232 + 6,331) / 2) / 113,202 * 180 = 10.03 days

Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1:
PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3

PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

,
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3


Question: What is the Days Sales Outstanding (DSO) for Apple Inc. for the six months ended March 30, 2024?

DSO = (Accounts Receivable / Total Credit Sales) * Number of Days = 21,837 / 210,328 * 180 = 18.69 days

Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 1:
PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

, Apple Inc. 10-Q form for quarterly period ended 2024-03-30, page 3:
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3

PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended		Six Months Ended

	March 30,2024		April 1,2023		March 30,2024		April 1,2023

Net sales:

   Products	$	66,886 			$	73,929 			$	163,344 			$	170,317

   Services	23,867 			20,907 			46,984 			41,673

Total net sales	90,753 			94,836 			210,328 			211,990

Cost of sales:

   Products	42,424 			46,795 			100,864 			107,560

   Services	6,058 			6,065 			12,338 			12,122

Total cost of sales	48,482 			52,860 			113,202 			119,682

Gross margin	42,271 			41,976 			97,126 			92,308

Operating expenses:

Research and development	7,903 			7,457 			15,599 			15,166

Selling, general and administrative	6,468 			6,201 			13,254 			12,808

Total operating expenses	14,371 			13,658 			28,853 			27,974

Operating income	27,900 			28,318 			68,273 			64,334

Other income/(expense), net	158 			64 			108 			(329)

Income before provision for income taxes	28,058 			28,382 			68,381 			64,005

Provision for income taxes	4,422 			4,222 			10,829 			9,847

Net income	$	23,636 			$	24,160 			$	57,552 			$	54,158

Earnings per share:

Basic	$	1.53 			$	1.53 			$	3.72 			$	3.42

Diluted	$	1.53 			$	1.52 			$	3.71 			$	3.41

Shares used in computing earnings per share:

Basic	15,405,856 			15,787,154 			15,457,810 			15,839,939

Diluted	15,464,709 			15,847,050 			15,520,675 			15,901,384

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 1

,
Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In millions, except number of shares, which are reflected in thousands, and par value)

	March 30,2024		September 30,2023

ASSETS:

Current assets:

Cash and cash equivalents	$	32,695 			$	29,965

Marketable securities	34,455 			31,590

Accounts receivable, net	21,837 			29,508

Vendor non-trade receivables	19,313 			31,477

Inventories	6,232 			6,331

Other current assets	13,884 			14,695

Total current assets	128,416 			143,566

Non-current assets:

Marketable securities	95,187 			100,544

Property, plant and equipment, net	43,546 			43,715

Other non-current assets	70,262 			64,758

Total non-current assets	208,995 			209,017

Total assets	$	337,411 			$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:

Accounts payable	$	45,753 			$	62,611

Other current liabilities	57,298 			58,829

Deferred revenue	8,012 			8,061

Commercial paper	1,997 			5,985

Term debt	10,762 			9,822

Total current liabilities	123,822 			145,308

Non-current liabilities:

Term debt	91,831 			95,281

Other non-current liabilities	47,564 			49,848

Total non-current liabilities	139,395 			145,129

Total liabilities	263,217 			290,437

Commitments and contingencies

Shareholders' equity:

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively	78,815 			73,812

Retained earnings/(Accumulated deficit)	4,339 			(214)

Accumulated other comprehensive loss	(8,960)			(11,452)

Total shareholders' equity	74,194 			62,146

Total liabilities and shareholders' equity	$	337,411 			$	352,583

See accompanying Notes to Condensed Consolidated Financial Statements.

Apple Inc. | Q2 2024 Form 10-Q | 3


Question: What is the Return on Assets (ROA) for Coca-Cola for the six months ended June 28, 2024?

ROA = (Net Income / Total Assets) * 100 = ($5,588 million / $101,202 million) * 100 = 5.52%

COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2:
Item 1. Financial Statements

THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In millions except per share data)

	Three Months Ended		Six Months Ended

	June 28,2024	June 30,2023		June 28,2024	June 30,2023

Net Operating Revenues	$	12,363 		$	11,972 			$	23,663 		$	22,952

Cost of goods sold	4,812 		4,912 			9,047 		9,229

Gross Profit	7,551 		7,060 			14,616 		13,723

Selling, general and administrative expenses	3,549 		3,321 			6,900 		6,506

Other operating charges	1,370 		1,338 			2,943 		1,449

Operating Income	2,632 		2,401 			4,773 		5,768

Interest income	275 		224 			521 		392

Interest expense	418 		374 			800 		746

Equity income (loss) - net	537 		538 			891 		813

Other income (loss) - net	2 		91 			1,515 		706

Income Before Income Taxes	3,028 		2,880 			6,900 		6,933

Income taxes 	627 		359 			1,314 		1,299

Consolidated Net Income	2,401 		2,521 			5,586 		5,634

Less: Net income (loss) attributable to noncontrolling interests	(10)		(26)			(2)		(20)

Net Income Attributable to Shareowners of The Coca-Cola Company	$	2,411 		$	2,547 			$	5,588 		$	5,654

Basic Net Income Per Share1	$	0.56 		$	0.59 			$	1.30 		$	1.31

Diluted Net Income Per Share1	$	0.56 		$	0.59 			$	1.29 		$	1.30

Average Shares Outstanding - Basic	4,309 		4,325 			4,309 		4,325

Effect of dilutive securities	10 		16 			12 		18

Average Shares Outstanding - Diluted	4,319 		4,341 			4,321 		4,343

1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.

Refer to Notes to Consolidated Financial Statements.

2

, COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4:
THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In millions except par value)

	June 28,2024	December 31,2023

ASSETS

Current Assets

Cash and cash equivalents	$	13,708 		$	9,366

Short-term investments	3,691 		2,997

Total Cash, Cash Equivalents and Short-Term Investments	17,399 		12,363

Marketable securities	1,594 		1,300

Trade accounts receivable, less allowances of $502 and $502, respectively	4,545 		3,410

Inventories	4,763 		4,424

Prepaid expenses and other current assets	3,298 		5,235

Total Current Assets	31,599 		26,732

Equity method investments	18,940 		19,671

Other investments	167 		118

Other noncurrent assets	7,274 		7,162

Deferred income tax assets	1,409 		1,561

Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively	9,508 		9,236

Trademarks with indefinite lives	13,510 		14,349

Goodwill	18,324 		18,358

Other intangible assets	471 		516

Total Assets	$	101,202 		$	97,703

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable and accrued expenses	$	21,909 		$	15,485

Loans and notes payable	3,793 		4,557

Current maturities of long-term debt	1,939 		1,960

Accrued income taxes	1,622 		1,569

Total Current Liabilities	29,263 		23,571

Long-term debt	38,085 		35,547

Other noncurrent liabilities	4,077 		8,466

Deferred income tax liabilities	2,366 		2,639

The Coca-Cola Company Shareowners' Equity

Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares	1,760 		1,760

Capital surplus	19,468 		19,209

Reinvested earnings	75,189 		73,782

Accumulated other comprehensive income (loss)	(15,458)		(14,275)

Treasury stock, at cost - 2,731 and 2,732 shares, respectively	(55,106)		(54,535)

Equity Attributable to Shareowners of The Coca-Cola Company	25,853 		25,941

Equity attributable to noncontrolling interests	1,558 		1,539

Total Equity	27,411 		27,480

Total Liabilities and Equity	$	101,202 		$	97,703

Refer to Notes to Consolidated Financial Statements.

4

Item 1. Financial Statements

THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In millions except per share data)

	Three Months Ended		Six Months Ended

	June 28,2024	June 30,2023		June 28,2024	June 30,2023

Net Operating Revenues	$	12,363 		$	11,972 			$	23,663 		$	22,952

Cost of goods sold	4,812 		4,912 			9,047 		9,229

Gross Profit	7,551 		7,060 			14,616 		13,723

Selling, general and administrative expenses	3,549 		3,321 			6,900 		6,506

Other operating charges	1,370 		1,338 			2,943 		1,449

Operating Income	2,632 		2,401 			4,773 		5,768

Interest income	275 		224 			521 		392

Interest expense	418 		374 			800 		746

Equity income (loss) - net	537 		538 			891 		813

Other income (loss) - net	2 		91 			1,515 		706

Income Before Income Taxes	3,028 		2,880 			6,900 		6,933

Income taxes 	627 		359 			1,314 		1,299

Consolidated Net Income	2,401 		2,521 			5,586 		5,634

Less: Net income (loss) attributable to noncontrolling interests	(10)		(26)			(2)		(20)

Net Income Attributable to Shareowners of The Coca-Cola Company	$	2,411 		$	2,547 			$	5,588 		$	5,654

Basic Net Income Per Share1	$	0.56 		$	0.59 			$	1.30 		$	1.31

Diluted Net Income Per Share1	$	0.56 		$	0.59 			$	1.29 		$	1.30

Average Shares Outstanding - Basic	4,309 		4,325 			4,309 		4,325

Effect of dilutive securities	10 		16 			12 		18

Average Shares Outstanding - Diluted	4,319 		4,341 			4,321 		4,343

1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.

Refer to Notes to Consolidated Financial Statements.

2

,
THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In millions except par value)

	June 28,2024	December 31,2023

ASSETS

Current Assets

Cash and cash equivalents	$	13,708 		$	9,366

Short-term investments	3,691 		2,997

Total Cash, Cash Equivalents and Short-Term Investments	17,399 		12,363

Marketable securities	1,594 		1,300

Trade accounts receivable, less allowances of $502 and $502, respectively	4,545 		3,410

Inventories	4,763 		4,424

Prepaid expenses and other current assets	3,298 		5,235

Total Current Assets	31,599 		26,732

Equity method investments	18,940 		19,671

Other investments	167 		118

Other noncurrent assets	7,274 		7,162

Deferred income tax assets	1,409 		1,561

Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively	9,508 		9,236

Trademarks with indefinite lives	13,510 		14,349

Goodwill	18,324 		18,358

Other intangible assets	471 		516

Total Assets	$	101,202 		$	97,703

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable and accrued expenses	$	21,909 		$	15,485

Loans and notes payable	3,793 		4,557

Current maturities of long-term debt	1,939 		1,960

Accrued income taxes	1,622 		1,569

Total Current Liabilities	29,263 		23,571

Long-term debt	38,085 		35,547

Other noncurrent liabilities	4,077 		8,466

Deferred income tax liabilities	2,366 		2,639

The Coca-Cola Company Shareowners' Equity

Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares	1,760 		1,760

Capital surplus	19,468 		19,209

Reinvested earnings	75,189 		73,782

Accumulated other comprehensive income (loss)	(15,458)		(14,275)

Treasury stock, at cost - 2,731 and 2,732 shares, respectively	(55,106)		(54,535)

Equity Attributable to Shareowners of The Coca-Cola Company	25,853 		25,941

Equity attributable to noncontrolling interests	1,558 		1,539

Total Equity	27,411 		27,480

Total Liabilities and Equity	$	101,202 		$	97,703

Refer to Notes to Consolidated Financial Statements.

4


Question: How does Coca-Cola's Net Profit Margin for the six months ended June 28, 2024, compare to the same period in 2023?

COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2:
Item 1. Financial Statements

THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In millions except per share data)

	Three Months Ended		Six Months Ended

	June 28,2024	June 30,2023		June 28,2024	June 30,2023

Net Operating Revenues	$	12,363 		$	11,972 			$	23,663 		$	22,952

Cost of goods sold	4,812 		4,912 			9,047 		9,229

Gross Profit	7,551 		7,060 			14,616 		13,723

Selling, general and administrative expenses	3,549 		3,321 			6,900 		6,506

Other operating charges	1,370 		1,338 			2,943 		1,449

Operating Income	2,632 		2,401 			4,773 		5,768

Interest income	275 		224 			521 		392

Interest expense	418 		374 			800 		746

Equity income (loss) - net	537 		538 			891 		813

Other income (loss) - net	2 		91 			1,515 		706

Income Before Income Taxes	3,028 		2,880 			6,900 		6,933

Income taxes 	627 		359 			1,314 		1,299

Consolidated Net Income	2,401 		2,521 			5,586 		5,634

Less: Net income (loss) attributable to noncontrolling interests	(10)		(26)			(2)		(20)

Net Income Attributable to Shareowners of The Coca-Cola Company	$	2,411 		$	2,547 			$	5,588 		$	5,654

Basic Net Income Per Share1	$	0.56 		$	0.59 			$	1.30 		$	1.31

Diluted Net Income Per Share1	$	0.56 		$	0.59 			$	1.29 		$	1.30

Average Shares Outstanding - Basic	4,309 		4,325 			4,309 		4,325

Effect of dilutive securities	10 		16 			12 		18

Average Shares Outstanding - Diluted	4,319 		4,341 			4,321 		4,343

1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.

Refer to Notes to Consolidated Financial Statements.

2


Question: What is the Interest Coverage Ratio for Coca-Cola for the six months ended June 28, 2024?

Interest Coverage Ratio = EBIT / Interest Expenses = $4,773 million / $800 million = 5.97

COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2:
Item 1. Financial Statements

THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In millions except per share data)

	Three Months Ended		Six Months Ended

	June 28,2024	June 30,2023		June 28,2024	June 30,2023

Net Operating Revenues	$	12,363 		$	11,972 			$	23,663 		$	22,952

Cost of goods sold	4,812 		4,912 			9,047 		9,229

Gross Profit	7,551 		7,060 			14,616 		13,723

Selling, general and administrative expenses	3,549 		3,321 			6,900 		6,506

Other operating charges	1,370 		1,338 			2,943 		1,449

Operating Income	2,632 		2,401 			4,773 		5,768

Interest income	275 		224 			521 		392

Interest expense	418 		374 			800 		746

Equity income (loss) - net	537 		538 			891 		813

Other income (loss) - net	2 		91 			1,515 		706

Income Before Income Taxes	3,028 		2,880 			6,900 		6,933

Income taxes 	627 		359 			1,314 		1,299

Consolidated Net Income	2,401 		2,521 			5,586 		5,634

Less: Net income (loss) attributable to noncontrolling interests	(10)		(26)			(2)		(20)

Net Income Attributable to Shareowners of The Coca-Cola Company	$	2,411 		$	2,547 			$	5,588 		$	5,654

Basic Net Income Per Share1	$	0.56 		$	0.59 			$	1.30 		$	1.31

Diluted Net Income Per Share1	$	0.56 		$	0.59 			$	1.29 		$	1.30

Average Shares Outstanding - Basic	4,309 		4,325 			4,309 		4,325

Effect of dilutive securities	10 		16 			12 		18

Average Shares Outstanding - Diluted	4,319 		4,341 			4,321 		4,343

1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.

Refer to Notes to Consolidated Financial Statements.

2


Question: What is the Long-term Debt to Capitalization Ratio for Coca-Cola as of June 28, 2024?

Long-term Debt to Capitalization Ratio = Long-term Debt / (Long-term Debt + Shareholders' Equity) = $38,085 million / ($38,085 million + $25,853 million) = 0.60

COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4:
THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In millions except par value)

	June 28,2024	December 31,2023

ASSETS

Current Assets

Cash and cash equivalents	$	13,708 		$	9,366

Short-term investments	3,691 		2,997

Total Cash, Cash Equivalents and Short-Term Investments	17,399 		12,363

Marketable securities	1,594 		1,300

Trade accounts receivable, less allowances of $502 and $502, respectively	4,545 		3,410

Inventories	4,763 		4,424

Prepaid expenses and other current assets	3,298 		5,235

Total Current Assets	31,599 		26,732

Equity method investments	18,940 		19,671

Other investments	167 		118

Other noncurrent assets	7,274 		7,162

Deferred income tax assets	1,409 		1,561

Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively	9,508 		9,236

Trademarks with indefinite lives	13,510 		14,349

Goodwill	18,324 		18,358

Other intangible assets	471 		516

Total Assets	$	101,202 		$	97,703

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable and accrued expenses	$	21,909 		$	15,485

Loans and notes payable	3,793 		4,557

Current maturities of long-term debt	1,939 		1,960

Accrued income taxes	1,622 		1,569

Total Current Liabilities	29,263 		23,571

Long-term debt	38,085 		35,547

Other noncurrent liabilities	4,077 		8,466

Deferred income tax liabilities	2,366 		2,639

The Coca-Cola Company Shareowners' Equity

Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares	1,760 		1,760

Capital surplus	19,468 		19,209

Reinvested earnings	75,189 		73,782

Accumulated other comprehensive income (loss)	(15,458)		(14,275)

Treasury stock, at cost - 2,731 and 2,732 shares, respectively	(55,106)		(54,535)

Equity Attributable to Shareowners of The Coca-Cola Company	25,853 		25,941

Equity attributable to noncontrolling interests	1,558 		1,539

Total Equity	27,411 		27,480

Total Liabilities and Equity	$	101,202 		$	97,703

Refer to Notes to Consolidated Financial Statements.

4


Question: How does Coca-Cola's Debt Equity Ratio as of June 28, 2024, compare to December 31, 2023?

Debt Equity Ratio as of June 28, 2024 = 1.68, Debt Equity Ratio as of December 31, 2023 = (4,557 + 1,960 + 35,547) / 25,941 = 1.64. The Debt Equity Ratio increased from 1.64 to 1.68.

COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4:
THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In millions except par value)

	June 28,2024	December 31,2023

ASSETS

Current Assets

Cash and cash equivalents	$	13,708 		$	9,366

Short-term investments	3,691 		2,997

Total Cash, Cash Equivalents and Short-Term Investments	17,399 		12,363

Marketable securities	1,594 		1,300

Trade accounts receivable, less allowances of $502 and $502, respectively	4,545 		3,410

Inventories	4,763 		4,424

Prepaid expenses and other current assets	3,298 		5,235

Total Current Assets	31,599 		26,732

Equity method investments	18,940 		19,671

Other investments	167 		118

Other noncurrent assets	7,274 		7,162

Deferred income tax assets	1,409 		1,561

Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively	9,508 		9,236

Trademarks with indefinite lives	13,510 		14,349

Goodwill	18,324 		18,358

Other intangible assets	471 		516

Total Assets	$	101,202 		$	97,703

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable and accrued expenses	$	21,909 		$	15,485

Loans and notes payable	3,793 		4,557

Current maturities of long-term debt	1,939 		1,960

Accrued income taxes	1,622 		1,569

Total Current Liabilities	29,263 		23,571

Long-term debt	38,085 		35,547

Other noncurrent liabilities	4,077 		8,466

Deferred income tax liabilities	2,366 		2,639

The Coca-Cola Company Shareowners' Equity

Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares	1,760 		1,760

Capital surplus	19,468 		19,209

Reinvested earnings	75,189 		73,782

Accumulated other comprehensive income (loss)	(15,458)		(14,275)

Treasury stock, at cost - 2,731 and 2,732 shares, respectively	(55,106)		(54,535)

Equity Attributable to Shareowners of The Coca-Cola Company	25,853 		25,941

Equity attributable to noncontrolling interests	1,558 		1,539

Total Equity	27,411 		27,480

Total Liabilities and Equity	$	101,202 		$	97,703

Refer to Notes to Consolidated Financial Statements.

4


Question: What is the Working Capital for Coca-Cola as of June 28, 2024?

Working Capital = Current Assets - Current Liabilities = $31,599 million - $29,263 million = $2,336 million

COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 4:
THE COCA-COLA COMPANY AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In millions except par value)

	June 28,2024	December 31,2023

ASSETS

Current Assets

Cash and cash equivalents	$	13,708 		$	9,366

Short-term investments	3,691 		2,997

Total Cash, Cash Equivalents and Short-Term Investments	17,399 		12,363

Marketable securities	1,594 		1,300

Trade accounts receivable, less allowances of $502 and $502, respectively	4,545 		3,410

Inventories	4,763 		4,424

Prepaid expenses and other current assets	3,298 		5,235

Total Current Assets	31,599 		26,732

Equity method investments	18,940 		19,671

Other investments	167 		118

Other noncurrent assets	7,274 		7,162

Deferred income tax assets	1,409 		1,561

Property, plant and equipment, less accumulated depreciation of $9,492 and $9,233, respectively	9,508 		9,236

Trademarks with indefinite lives	13,510 		14,349

Goodwill	18,324 		18,358

Other intangible assets	471 		516

Total Assets	$	101,202 		$	97,703

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable and accrued expenses	$	21,909 		$	15,485

Loans and notes payable	3,793 		4,557

Current maturities of long-term debt	1,939 		1,960

Accrued income taxes	1,622 		1,569

Total Current Liabilities	29,263 		23,571

Long-term debt	38,085 		35,547

Other noncurrent liabilities	4,077 		8,466

Deferred income tax liabilities	2,366 		2,639

The Coca-Cola Company Shareowners' Equity

Common stock, $0.25 par value; authorized - 11,200 shares; issued - 7,040 shares	1,760 		1,760

Capital surplus	19,468 		19,209

Reinvested earnings	75,189 		73,782

Accumulated other comprehensive income (loss)	(15,458)		(14,275)

Treasury stock, at cost - 2,731 and 2,732 shares, respectively	(55,106)		(54,535)

Equity Attributable to Shareowners of The Coca-Cola Company	25,853 		25,941

Equity attributable to noncontrolling interests	1,558 		1,539

Total Equity	27,411 		27,480

Total Liabilities and Equity	$	101,202 		$	97,703

Refer to Notes to Consolidated Financial Statements.

4