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These excerpts taken from the AAPL 10-K filed Dec 29, 2006. Interest and Other Income, Net Total interest and other income, net increased $200 million or 121% to $365 million during 2006 compared to $165 million in 2005 and $53 million in 2004. These increases are attributable primarily to higher cash and short-term investment balances and increasing investment yields resulting from higher market interest rates and the 14th week added to the first fiscal quarter of 2006. The weighted average interest rate earned by the Company on its cash, cash equivalents, and short-term investments increased to 4.58% in 2006 compared to the 2.70% and 1.38% rates earned during 2005 and 2004, respectively. The current year increase in other income was partially offset by higher foreign currency hedging expenses. Interest expense in 2004 consisted primarily of interest on the Company’s $300 million aggregate principal amount unsecured notes, which were repaid upon their maturity in February 2004. The unsecured notes 61 were sold at 99.925% of par for an effective yield to maturity of 6.51%. Total deferred gain resulting from the closure of debt swaps of approximately $23 million was fully amortized as of the notes’ maturity in February 2004. Interest and Other Total interest and other income, net increased $200 Interest expense in 2004 61 were sold at 99.925% of These excerpts taken from the AAPL 10-K filed Dec 1, 2005. Interest and Other Total interest and other income, net increased $112 Interest expense consisted This excerpt taken from the AAPL 10-Q filed Aug 3, 2005. Interest and Other Income, Net Total interest and other income, net increased $33 million or 254% to $46 million during the third quarter of 2005 compared to the same quarter in 2004 and increased $71 million or 209% for the first nine months of 2005 from the same period in 2004. These increases are attributable primarily to higher cash and short-term investment balances and increasing investment yields resulting from higher market interest rates. The weighted average interest rate earned by the Company on its cash, cash equivalents and short-term investments increased to 2.88% in the third quarter of 2005 compared to the 1.27% rate earned during the same period in 2004. The Company occasionally sells short-term investments prior to their stated maturities. No gains or losses on early sales of short-term investments were recognized in either the third quarter or first nine months of 2005 or 2004.
Interest expense in the prior year consisted primarily of interest on the Company’s $300 million aggregate principal amount unsecured notes, which were repaid upon their maturity in February 2004, partially offset by amortization of deferred gains realized in 2002 and 2001 that resulted from the closure of swap positions associated with the unsecured notes.
This excerpt taken from the AAPL 10-Q filed May 4, 2005. Interest and Other Income, Net Total interest and other income, net increased $21 million or 175% to $33 million during the second quarter of 2005 compared to the same quarter in 2004 and increased $38 million or 181% for the first six months of 2005 from the same period in 2004. These increases are attributable primarily to higher cash and short-term investment balances and increasing investment yields resulting from higher market interest rates. The weighted average interest rate earned by the Company on its cash, cash equivalents and short-term investments increased to 2.37% in the second quarter of 2005 compared to the 1.32% rate earned during the same period in 2004. The Company occasionally sells short-term investments prior to their stated maturities. No gains or losses on early sales of short-term investments were recognized in either the second quarter or first half of 2005 or 2004.
Interest expense in the prior year consisted primarily of interest on the Company’s $300 million aggregate principal amount unsecured notes, which were repaid upon their maturity in February 2004, partially offset by amortization of deferred gains realized in 2002 and 2001 that resulted from the closure of swap positions associated with the unsecured notes.
This excerpt taken from the AAPL 10-Q filed Feb 1, 2005. Interest and Other Income, Net Total interest and other income, net, increased $17 million to $26 million during the first quarter of 2005 compared to $9 million in the comparable quarter of 2004. This increase is attributable primarily to higher cash and short-term investment balances and increasing investment yields resulting from higher market interest rates. The weighted average interest rate earned by the Company on its cash, cash equivalents and short-term investments increased to 1.93% in the first quarter of 2005 compared to the 1.27% earned during the same period in 2004. The Company occasionally sells short-term investments prior to their stated maturities. No gains or losses were recognized on any such sales during either the first quarter of 2005 or 2004.
Interest expense in the prior year consisted primarily of interest on the Company’s $300 million aggregate principal amount unsecured notes, which were repaid upon their maturity in February 2004, partially offset by amortization of deferred gains realized in 2002 and 2001 that resulted from the closure of swap positions associated with the unsecured notes.
These excerpts taken from the AAPL 10-K filed Dec 3, 2004. These excerpts taken from the AAPL 10-K filed Dec 19, 2003. Interest and Other Income, Net
Interest and Other Income, Net
These excerpts taken from the AAPL 10-K filed Dec 19, 2002. Interest and Other Income, Net Net interest and other income was $112 million in fiscal 2002, compared to $217 million in fiscal 2001. This $105 million or 48% decrease is primarily the result of declining investment yields on the Company's cash and short-term investments resulting from substantially lower market interest rates. The weighted average interest rate earned by the Company on its cash, cash equivalents and short-term investments fell to 2.85% in 2002 compared to 5.38% in 2001. Net interest and other income increased $14 million or 7% to $217 million during 2001. The increase was due in part to interest income from higher cash and invested balances in 2001, partially offset by declining interest rates and investment yields, and a rebalancing of the aggregate investment portfolio to a higher proportion of lower risk and better credit investments. The weighted average interest rate earned by the Company on its cash, cash equivalents and short-term investments fell to 5.38% in 2001 compared to 6.12% in 2000. The Company expects interest and other income, net to decline substantially in 2003 as declines in interest rates continue to impact earnings on the Company's investment portfolio. The Company's expects this decline to be most pronounced in the second half of the fiscal year. The foregoing statements are forward-looking. Interest and other income, net could differ from expected levels because of several factors, including certain of those set forth below in the subsection entitled "Factors That May Affect Future Results and Financial Condition." Additionally, actual future interest and other income, net may be significantly impacted by unforeseen changes in market interest rates, foreign currency exchange rates, and the fair value of the Company's short-term and long-term investments. Interest and Other Income, Net Net interest and other income was $112 million in fiscal 2002, compared to $217 million in fiscal 2001. This $105 million or 48% decrease is primarily the Net The | EXCERPTS ON THIS PAGE:
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