Apple 2024: follow earnings through cash and capital returns

Your assignment: test a cash-distribution claim.

A draft note says, “Apple produced more cash than earnings, so its cash after capital expenditure was available for dividends and buybacks.” Locate the missing steps before accepting that conclusion. An operating company has cash tied to customers, suppliers, inventory, investment and financing. A profitable year and a positive cash-flow measure answer only part of the funding question.

Rebuild operating cash flow from net income and every signed adjustment.
Define cash capex and calculate a simple free-cash-flow measure.
Deduct actual cash dividends and repurchases, preserving their cash-paid basis.
Reconcile the full change in cash and distinguish repurchase dollars from changes in shares.

Use the FY2024 column of Apple FY2024 10-K ↗, particularly pages 32–33 and Note 10. All cash-flow inputs below are USD millions. Negative values are cash uses or negative reconciliation adjustments. The answers open with native disclosure controls and remain readable without JavaScript.

Net income is the starting point, not the cash total.

FY2024 net income and reconciliation adjustments; USD millions
Source input	Signed value	Unit
Net income Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Net income. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	93,736	USD million
Depreciation and amortization Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Depreciation and amortization. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	11,445	USD million
Share-based compensation expense Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Share-based compensation expense. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	11,688	USD million
Other reconciliation adjustment Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Adjustments to reconcile net income: Other. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-2,266	USD million

The first group reverses or adjusts items included in earnings before the statement addresses operating assets and liabilities. Keep the issuer’s “Other” amount visible: the cash-flow table does not break it into a list of purely noncash charges. Calling the whole group depreciation would discard both share compensation and the negative other adjustment.

FY2024 changes in operating assets and liabilities, and reported operating cash flow
Source input	Signed value	Unit
Change in trade receivables Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Accounts receivable, net. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-3,788	USD million
Change in vendor receivables Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Vendor non-trade receivables. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-1,356	USD million
Change in inventories Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Inventories. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-1,046	USD million
Change in other operating assets Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Other current and non-current assets. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-11,731	USD million
Change in trade payables Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Accounts payable. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	6,020	USD million
Change in other operating liabilities Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Other current and non-current liabilities. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	15,552	USD million
Reported operating cash flow Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Cash generated by operating activities. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	118,254	USD million

Use the signs in the cash-flow statement. A receivable increase can absorb cash even when revenue is recognized; a payable increase can temporarily support cash. The issuer also includes current and non-current items, so this group is broader than a mechanical change in current assets minus current liabilities.

Reveal the complete operating-cash reconciliation

First adjustments: 11,445 + 11,688 − 2,266 = 20,867. Changes in operating assets and liabilities: −3,788 − 1,356 − 1,046 − 11,731 + 6,020 + 15,552 = 3,651. Net income 93,736 + 20,867 + 3,651 = 118,254 USD million, exactly matching reported operating cash flow. The increase over earnings is a reconciliation, not a separate sales receipt.

Working-capital timing can reverse. The positive net change does not establish a recurring source of cash. Likewise, the 11,688 share-compensation add-back explains cash-flow presentation; employees still receive an economically valuable claim.

Define FCF before describing what it can fund.

FY2024 cash uses: PP&E purchases and capital returns
Source input	Signed value	Unit
Cash paid to acquire PP&E Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Payments for acquisition of property, plant and equipment. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-9,447	USD million
Cash dividends and dividend equivalents Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Payments for dividends and dividend equivalents. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-15,234	USD million
Cash used for common-stock repurchases Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Repurchases of common stock. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-94,949	USD million

For this exercise only, free cash flow (FCF) = operating cash flow − cash paid to acquire property, plant and equipment (PP&E). The source records the capex payment as −9,447. Subtract its positive magnitude once, or add its signed value once. Net investing cash flow is not a substitute for this specific cash-capex input.

Reveal FCF and the cash allocation residual

118,254 − 9,447 = 108,807 USD million under the stated FCF definition. Cash dividends and equivalents plus repurchases are 15,234 + 94,949 = 110,183. FCF less those uses is -1,376. A negative result here says those two cash uses exceeded this defined annual FCF amount; it is not the ending cash balance or a finding of insolvency.

Reveal the two explicitly labeled payout ratios

Cash dividends and equivalents ÷ defined FCF = 15,234 ÷ 108,807 × 100 = 14.0009%. Cash dividends plus repurchases ÷ defined FCF = 110,183 ÷ 108,807 × 100 = 101.2646%. These annual arithmetic comparisons have different numerators. Neither establishes future dividend capacity or an appropriate buyback price.

Different measurement bases in shareholders’ equity; do not substitute these for cash payments
Source input	Signed value	Unit
Dividends and equivalents declared Source and measurement Item 8, Consolidated Statements of Shareholders' Equity, p.32, FY2024 column; Dividends and dividend equivalents declared. Equity-statement declared amount; not cash paid. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-15,218	USD million
Declared dividend per share or RSU Source and measurement Item 8, Consolidated Statements of Shareholders' Equity, p.32, FY2024 column; Dividends and dividend equivalents declared per share or RSU. Full-year declared amount per share or restricted stock unit; not a cash-flow numerator. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	0.98	USD per share or RSU
Common-stock repurchases: retained earnings / accumulated deficit Source and measurement Item 8, Consolidated Statements of Shareholders' Equity, printed p.32, Retained earnings/(Accumulated deficit) section, FY2024 column; Common stock repurchased. Reduction in retained earnings / accumulated deficit in the original filing; not the cash-flow amount or the XBRL workbook Total cell. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-95,846	USD million

The equity statement records declared dividends and equivalents of 15,218, versus 15,234 paid in cash: a 16 difference. The 95,846 repurchase amount comes specifically from the Retained earnings/(Accumulated deficit) section of the original 10-K on printed page 32, in the FY2024 column. Its difference from the 94,949 cash payment is 897. Recognition and settlement bases matter. These two tables alone do not explain every component of those differences; do not invent a timing or tax bridge from their subtraction.

Check the selected equity section against its ending balance

Using the signed amounts on page 32: −214 + 93,736 − 15,218 − 1,612 − 95,846 = −19,154 USD million, the reported ending accumulated deficit. The SEC XBRL workbook presents −95,846 in the retained-earnings column and −95,000 in the Total column of the repurchase row. This lab uses the original filing’s specified section; it does not substitute the workbook’s Total cell or assign an unsupported cause to the 846 difference.

The declared $0.98 per share or restricted stock unit is another measurement. Multiplying it by year-end shares will not reconstruct actual aggregate cash payments: entitlement, share counts and timing vary. Use the disclosed aggregate cash row for a cash allocation exercise.

Close the cash statement with investing and financing.

Complete FY2024 investing section; USD millions
Source input	Signed value	Unit
Marketable securities purchased Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Purchases of marketable securities. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-48,656	USD million
Marketable securities matured Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Proceeds from maturities of marketable securities. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	51,211	USD million
Marketable securities sold Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Proceeds from sales of marketable securities. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	11,135	USD million
Cash paid to acquire PP&E Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Payments for acquisition of property, plant and equipment. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-9,447	USD million
Other investing cash flow Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Investing activities: Other. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-1,308	USD million
Reported net investing cash flow Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Cash generated by/(used in) investing activities. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	2,935	USD million

Reveal investing cash flow

−48,656 + 51,211 + 11,135 − 9,447 − 1,308 = 2,935 USD million. Security maturities and sales generate cash here, but they are not operating cash flow. Adding 2,935 to FCF would double-count the PP&E payment already deducted in FCF.

Complete FY2024 financing section; USD millions
Source input	Signed value	Unit
Cash taxes on net settlement of equity awards Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Payments for taxes related to net share settlement of equity awards. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-5,441	USD million
Cash dividends and dividend equivalents Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Payments for dividends and dividend equivalents. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-15,234	USD million
Cash used for common-stock repurchases Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Repurchases of common stock. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-94,949	USD million
Net proceeds from term-debt issuance Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Proceeds from issuance of term debt, net. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative; source dash is encoded as zero. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	0	USD million
Term-debt repayments Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Repayments of term debt. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-9,958	USD million
Net proceeds from commercial paper Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Proceeds from/(Repayments of) commercial paper, net. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	3,960	USD million
Other financing cash flow Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Financing activities: Other. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-361	USD million
Reported net financing cash flow Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Cash used in financing activities. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-121,983	USD million

Reveal financing cash flow

−5,441 − 15,234 − 94,949 + 0 − 9,958 + 3,960 − 361 = −121,983 USD million. The source dash for term-debt issuance is represented as zero. Debt repayments, commercial-paper proceeds and equity-award settlement taxes all belong in the cash statement even though a dividend-and-buyback subtotal excludes them.

Cash balances include cash equivalents and restricted cash; beginning is September 30, 2023
Source input	Signed value	Unit
Beginning cash, equivalents and restricted cash Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. At 2023-09-30. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	30,737	USD million
Reported change in cash and equivalents, including restricted amounts Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-794	USD million
Ending cash, equivalents and restricted cash Source and measurement Item 8, Consolidated Statements of Cash Flows, p.33, FY2024 column; row: Cash, cash equivalents, and restricted cash and cash equivalents, ending balances. Consolidated GAAP cash-flow statement; signed as presented; parentheses are negative. At 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	29,943	USD million

Reveal the full cash reconciliation

30,737 + 118,254 + 2,935 − 121,983 = 29,943 USD million. The change is -794. This agrees with both reported cash rows. No separate exchange-rate-effects row appears in this source statement; the three activity totals already explain the reported change.

Connect the allocation residual to the cash change without double-counting

Start with the FCF allocation residual of −1,376. Investing cash excluding the PP&E payment is 2,935 − (−9,447) = 12,382. Financing cash excluding dividends and repurchases is −121,983 + 15,234 + 94,949 = -11,800. Thus −1,376 + 12,382 − 11,800 = −794. This explains why the simplified residual and total cash change differ.

This annual reconciliation does not trace a particular borrowing to a particular repurchase. Cash is pooled, and the order of transactions within the year is absent from these annual totals. Describe the total financing mix without claiming a direct use-of-proceeds relationship that the source has not established.

Repurchase cash is not the share-count result.

Note 10 common-share reconciliation; thousands of shares, not USD millions
Source input	Signed value	Unit
Beginning common shares outstanding Source and measurement Note 10, Shares of Common Stock, p.44, 2024 column; Common stock outstanding, beginning balances. Point-in-time common shares outstanding. At 2023-09-30. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	15,550,061	thousand shares
Common shares repurchased Source and measurement Note 10, Shares of Common Stock, p.44, 2024 column; Common stock repurchased. Signed change in common shares; shares, not dollars. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	-499,372	thousand shares
Shares issued after employee-tax withholding Source and measurement Note 10, Shares of Common Stock, p.44, 2024 column; Common stock issued, net of shares withheld for employee taxes. Signed net issuance in common shares. 2023-10-01 to 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	66,097	thousand shares
Ending common shares outstanding Source and measurement Note 10, Shares of Common Stock, p.44, 2024 column; Common stock outstanding, ending balances. Point-in-time common shares outstanding. At 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	15,116,786	thousand shares

Reveal the common-share change

15,550,061 − 499,372 + 66,097 = 15,116,786 thousand shares. Outstanding shares declined by 433,275 thousand, less than the 499,372 thousand repurchased because net issuance adds shares. Do not report the cash repurchase amount as a count of shares or as a percentage reduction in the share count.

The 11,688 share-compensation expense was added back in the operating-cash bridge. That does not make compensation economically free: the employee receives value, and shares issued can offset part of the repurchase effect. The cash statement separately includes 5,441 of equity-award settlement taxes. Adding a noncash expense back and then examining dilution and settlement cash are different analytical steps; neither licenses blindly deducting the same cash payment twice.

The Note 10 table measures beginning and ending shares outstanding. It is not the weighted-average diluted share denominator used for earnings per share. Dividing profit by ending shares does not reproduce reported diluted EPS.

Positive FCF is not cash available for distribution.

This lab’s FCF is a defined non-GAAP calculation, not a separately reported GAAP subtotal, a company forecast or a universal issuer definition. Its PP&E deduction does not identify maintenance versus growth spending. It also excludes other investing and financing transactions, future commitments and changes in the cash required to run the business. Compare definitions before comparing companies.

Note 4 restriction on part of the reported cash balance; issuer-rounded USD billions
Source input	Signed value	Unit
Cash and equivalents held in escrow Source and measurement Note 4, Cash, Cash Equivalents and Marketable Securities, p.37, footnote (2), September 28, 2024. Issuer-rounded amount restricted from general use for the State Aid Decision; included in cash and equivalents. At 2024-09-28. Cited filing available 2024-11-01; checked 2026-10-18. Open original filing ↗	2.6	USD billion

Note 4 identifies $2.6 billion of cash and equivalents held in escrow and restricted from general use at year-end. The ending cash total therefore cannot be labeled entirely distributable. The rounded restriction disclosure is context, not a precise calculation of unrestricted cash to the nearest million. Future operating needs, other restrictions and obligations still require their own review.

The exercise deliberately keeps a single historical fiscal year. It cannot tell whether a cash-conversion pattern persists, whether replacement capex is sufficient, whether the share repurchases created value, or what a later dividend will be. Reconstructing a published result checks the arithmetic and classification; it does not independently verify the issuer’s underlying estimates.

Check the conclusion before using the number.

1. Why not use net income plus depreciation as operating cash flow?

That shortcut omits share compensation, the other reconciliation adjustment and all six operating-asset and liability changes. The omitted items have different signs. Use the complete bridge instead of treating one add-back as the entire reconciliation.

2. Does the −1,376 allocation residual prove a dividend shortfall?

No. It combines dividends and discretionary repurchases under the stated FCF definition. Dividends alone are a different numerator, and the residual also omits other investing and financing cash flows. It cannot establish a future payment decision or liquidity failure.

3. Can I subtract dividends, buybacks and net financing from FCF?

That double-counts dividends and buybacks because net financing already includes both. Reconcile with full operating, investing and financing totals, or explicitly remove already-counted items before adding the remaining categories.

4. Does a zero FX worksheet input mean the company has no currency exposure?

No. This source presents no separate exchange-rate-effects line in its cash statement. Zero is a worksheet convention to reproduce this particular statement, whose reported categories already tie. It is not evidence of zero foreign-currency business exposure.

5. Rewrite the opening claim in a supportable way.

Apple’s FY2024 statement reports 118,254 of operating cash flow. Deducting 9,447 of PP&E cash purchases gives 108,807 under this lab’s FCF definition. Cash dividends and repurchases total 110,183; the resulting −1,376 residual is one subtotal within a complete cash statement whose cash change is −794. Availability for future distributions remains a separate question. All amounts are USD millions.

Reproduce the exact historical inputs.

Open the operating-company cash-flow workbench with the Apple FY2024 example. Use period 2023-10-01 to 2024-09-28, currency USD and scale millions. The same values below omit grouping commas so they can be copied directly. In the cash-use fields, enter positive magnitudes; signed reconciliation fields retain their source signs.

Copy-ready workbench values; all USD millions, without thousands separators
Input	Value to enter
Net income	`93736`
Signed noncash and other reconciliation adjustments	`20867`
Signed operating-asset and liability changes	`3651`
Reported operating cash flow for reconciliation check	`118254`
PP&E cash capex — positive cash-use amount	`9447`
Cash dividends and equivalents — positive cash-use amount	`15234`
Cash repurchases — positive cash-use amount	`94949`
Beginning cash including restricted amounts	`30737`
Net investing cash flow — signed	`2935`
Net financing cash flow — signed	`-121983`
Separate FX / cash-reconciliation adjustment — see convention below	`0`
Reported ending cash including restricted amounts	`29943`

The 20,867 adjustment is the sum of 11,445 + 11,688 − 2,266, including the issuer’s unitemized Other adjustment. The 3,651 input includes current and non-current operating assets and liabilities. In the separate cash-balance reconciliation, enter 0 for the additional FX/cash adjustment only because no separate line is needed to reproduce this filing. That zero is a worksheet convention, not a transcribed fact and not a claim of no currency effects.

Expected checks: operating cash flow 118254; defined FCF 108807; cash allocation residual -1376; cash change -794; calculated ending cash 29943; unexplained difference 0. Keep net investing and financing totals in the cash-balance section only. Save the source and remaining questions in the research worksheet.

Primary sources and a reproducible record.

Apple FY2024 Form 10-K ↗ — filed 2024-11-01. Statements pp.32-33; Note 1 p.34; Note 4 p.37; Note 10 p.44. Accession 0000320193-24-000123.
SEC filing details for Apple FY2024 Form 10-K ↗ — filed 2024-11-01. Filing Date and Period of Report. Accession 0000320193-24-000123.

This lab records 36 sourced facts, one underlying 10-K and its SEC filing-details page: 2 primary-source URLs, not two independent financial reports. Every input’s expandable record shows its location, basis and dates. The structured source ledger preserves exact decimal strings, currency, unit, period, measurement date, source availability and check date.

“As of” means the measurement date; “available from” means the cited document’s filing date, not a claim about the earliest public appearance of a number; “checked on” means the inspection date for this exercise. Beginning balances are measured on September 30, 2023. Flow values cover the following fiscal year. No market-data connection or automatic financial update is used.

Calculations use decimal arithmetic without intermediate display rounding. Ratios round half up to four decimal places. The exact published inputs, not that display precision, define the exercise. Editorial approach · All filing labs.

Keep three dates separate.