AAPL · 10-K · 2025A · Full report

Manufacturing Purchase Obligations

Apple Inc. · 2025-10-31 · Importance 44 · Surprise 24 · In source text

Apple reported manufacturing purchase obligations of $56.2 billion as of September 27, 2025, with $55.4 billion payable within 12 months, reflecting large near-term commitments to contract manufacturers and component suppliers. The filing explicitly states Apple utilizes several outsourcing partners for subassemblies and final assembly/testing, and sources components from a wide variety of suppliers, signaling continued dependency on external manufacturing capacity. The quantum and short payability profile concentrate near-term working capital and supply-chain risk, and tie directly to product production for iPhone, Mac, iPad and Wearables. These obligations are a significant component of the Company’s contractual obligations disclosed in liquidity planning.

Key facts

As of September 27, 2025, the Company had manufacturing purchase obligations of $56.2 billion, with $55.4 billion payable within 12 months. source
The Company utilizes several outsourcing partners to manufacture subassemblies and perform final assembly and testing of finished products and obtains components from a wide variety of individual suppliers. source

Impact estimates

metric	direction	stage	expected	basis
liability	negative	committed	-13.1%	As of September 27, 2025, the Company had manufacturing purchase obligations of $56.2 billion, with $55.4 billion payable within 12 months.