AAPL · 10-K · 2025A · Full report

Liquidity and Cash Position

Apple Inc. · 2025-10-31 · Importance 53 · Surprise 6 · In source text

As of September 27, 2025, the company held $132.4 billion of cash, cash equivalents and marketable securities and expects these balances, plus cash from operations and access to debt markets, to satisfy cash requirements over the next 12 months. The company reported $91.3 billion of outstanding fixed-rate notes (with $12.4 billion payable within 12 months) and $8.0 billion of commercial paper outstanding as of September 27, 2025. Manufacturing purchase obligations totaled $56.2 billion (with $55.4 billion payable within 12 months) and fixed lease payment obligations totaled $16.8 billion (with $2.6 billion payable within 12 months), representing significant near-term cash commitments. The company also reported a deemed repatriation tax payable of $8.8 billion as of September 27, 2025, payable within 12 months.

Key facts

• As of September 27, 2025, the Company’s balances of cash, cash equivalents and marketable securities totaled $132.4 billion. source

Impact estimates