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How to calculate long-term debt to equity ratio and interest coverage ratio?

How to calculate long-term debt to equity ratio and interest coverage ratio?

How to calculate long-term debt to equity ratio and interest coverage ratio? (I have attached the financial statements as well.)

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Apple Inc (NMS: AAPL)

Company Financials

Income Statement Exchange rate used is that of the Year End reported date

As Reported Annual Income Statement Report Date 09/25/202

1 09/26/202

0 09/28/201

9 Currency USD USD USD Audit Status Not

Qualified Not

Qualified Not

Qualified Consolidated Yes Yes Yes Scale Thousan

ds Thousan

ds Thousan

ds Products 297392000 220747000 213883000 Services 68425000 53768000 46291000 Net sales $365,817,000 $274,515,000 $260,174,000 Cost of sales – products $192,266,000 $151,286,000 $144,996,000 Cost of sales – services $20,715,000 $18,273,000 $16,786,000 Cost of sales $212,981,000 $169,559,000 $161,782,000 Gross margin $152,836,000 $104,956,000 $98,392,000 Research & development expense $21,914,000 $18,752,000 $16,217,000 Selling, general & administrative expense $21,973,000 $19,916,000 $18,245,000 Total operating expenses $43,887,000 $38,668,000 $34,462,000 Operating income (loss) $108,949,000 $66,288,000 $63,930,000 Interest & dividend income $2,843,000 $3,763,000 $4,961,000 Interest expense $2,645,000 $2,873,000 $3,576,000 Other income (expense), net $60,000 -$87,000 $422,000 Other income/(expense), net $258,000 $803,000 $1,807,000 Income (loss) before provision for income taxes $109,207,000 $67,091,000 $65,737,000 Current federal income tax expense (benefit) $8,257,000 $6,306,000 $6,384,000 Deferred federal income tax expense (benefit) -$7,176,000 -$3,619,000 -$2,939,000 Total federal income tax expense (benefit) $1,081,000 $2,687,000 $3,445,000 Current state income tax expense (benefit) $1,620,000 $455,000 $475,000 Deferred state income tax expense (benefit) -$338,000 $21,000 -$67,000 Total state income tax expense (benefit) $1,282,000 $476,000 $408,000 Current foreign income tax expense (benefit) $9,424,000 $3,134,000 $3,962,000 Deferred foreign income tax expense (benefit) $2,740,000 $3,383,000 $2,666,000 Total foreign income tax expense (benefit) $12,164,000 $6,517,000 $6,628,000 Provision for (benefit from) income taxes $14,527,000 $9,680,000 $10,481,000 Net income (loss) $94,680,000 $57,411,000 $55,256,000

Weighted average shares outstanding – basic 16,701,272 17,352,119 18,471,336 Weighted average shares outstanding – diluted 16,864,919 17,528,214 18,595,652 Year end shares outstanding 16,426,786 16,976,763 17,772,944 Net earnings (loss) per share – basic $5.67 $3.31 $2.99 Net earnings (loss) per share – diluted $5.61 $3.28 $2.97 Cash dividends declared per share – $0.80 $0.75 Number of full time employees 154000 147000 137000 Number of common stockholders 23502 22797 23233 Foreign currency translation adjustments – 88000 -408000

Balance Sheet Exchange rate used is that of the Year End reported date

As Reported Annual Balance Sheet Report Date 09/25/202

1 09/26/202

0 09/28/201

9 Currency USD USD USD Audit Status Not

Qualified Not

Qualified Not

Qualified Consolidated Yes Yes Yes Scale Thousan

ds Thousan

ds Thousan

ds Cash & cash equivalents $34,940,000 $38,016,000 $48,844,000 Marketable securities $27,699,000 $52,927,000 $51,713,000 Accounts receivable, net $26,278,000 $16,120,000 $22,926,000 Inventories $6,580,000 $4,061,000 $4,106,000 Vendor non-trade receivables $25,228,000 $21,325,000 $22,878,000 Other current assets $14,111,000 $11,264,000 $12,352,000 Total current assets $134,836,000 $143,713,000 $162,819,000 Marketable securities $127,877,000 $100,887,000 $105,341,000 Land & buildings $20,041,000 $17,952,000 $17,085,000 Machinery, equipment, & internal-use software $78,659,000 $75,291,000 $69,797,000 Leasehold improvements $11,023,000 $10,283,000 $9,075,000 Gross property, plant & equipment $109,723,000 $103,526,000 $95,957,000 Accumulated depreciation & amortization $70,283,000 $66,760,000 $58,579,000 Property, plant & equipment, net $39,440,000 $36,766,000 $37,378,000 Other non-current assets $48,849,000 $42,522,000 $32,978,000 Total non-current assets $216,166,000 $180,175,000 $175,697,000 Total assets $351,002,000 $323,888,000 $338,516,000 Accounts payable $54,763,000 $42,296,000 $46,236,000 Deferred revenue $7,612,000 $6,643,000 $5,522,000 Other current liabilities $47,493,000 $42,684,000 $37,720,000 Commercial paper $6,000,000 $4,996,000 $5,980,000 Term debt $9,613,000 $8,773,000 $10,260,000 Total current liabilities $125,481,000 $105,392,000 $105,718,000

Floating & fixed-rate notes $118,063,000 $106,078,000 $101,679,000 Total debt $118,063,000 $106,078,000 $101,679,000 Unamortized discount -$380,000 -$314,000 -$224,000 Hedge accounting fair value adjustments $1,036,000 $1,676,000 $612,000 Less: current portion of long-term debt $9,613,000 $8,773,000 $10,260,000 Term debt $109,106,000 $98,667,000 $91,807,000 Long-term taxes payable $24,689,000 $28,170,000 $29,545,000 Other non-current liabilities $28,636,000 $26,320,000 $20,958,000 Other non-current liabilities $53,325,000 $54,490,000 $50,503,000 Total non-current liabilities $162,431,000 $153,157,000 $142,310,000 Total liabilities $287,912,000 $258,549,000 $248,028,000 Common stock $57,365,000 $50,779,000 $45,174,000 Retained earnings $5,562,000 $14,966,000 $45,898,000 Cumulative foreign currency translation – -$1,375,000 -$1,463,000 Unrecognized gains (losses) on derivative instruments – -$877,000 $172,000 Unrealized gains (losses) on marketable securities – $1,846,000 $707,000 Accumulated other comprehensive income (loss) $163,000 -$406,000 -$584,000 Total shareholders' equity $63,090,000 $65,339,000 $90,488,000

Cash Flows Exchange rate used is that of the Year End reported date

As Reported Annual Cash Flow Report Date 09/25/202

1 09/26/202

0 09/28/201

9 Currency USD USD USD Audit Status Not

Qualified Not

Qualified Not

Qualified Consolidated Yes Yes Yes Scale Thousan

ds Thousan

ds Thousan

ds Net income (loss) $94,680,000 $57,411,000 $55,256,000 Depreciation & amortization $11,284,000 $11,056,000 $12,547,000 Share-based compensation expense $7,906,000 $6,829,000 $6,068,000 Deferred income tax expense (benefit) -$4,774,000 -$215,000 -$340,000 Other adjustments -$147,000 -$97,000 -$652,000 Accounts receivable, net -$10,125,000 $6,917,000 $245,000 Inventories -$2,642,000 -$127,000 -$289,000 Vendor non-trade receivables -$3,903,000 $1,553,000 $2,931,000 Other current & non-current assets -$8,042,000 -$9,588,000 $873,000 Accounts payable $12,326,000 -$4,062,000 -$1,923,000 Deferred revenue $1,676,000 $2,081,000 -$625,000 Other current & non-current liabilities $5,799,000 $8,916,000 -$4,700,000 Net cash flows from operating activities $104,038,000 $80,674,000 $69,391,000 Purchases of marketable securities -$109,558,000 -$114,938,000 -$39,630,000

Proceeds from maturities of marketable securities $59,023,000 $69,918,000 $40,102,000 Proceeds from sales of marketable securities $47,460,000 $50,473,000 $56,988,000 Payments made in connection with business acquisitions, net-$33,000 -$1,524,000 -$624,000 Purchases of non-marketable securities -$131,000 -$210,000 -$1,001,000 Proceeds from non-marketable securities $387,000 $92,000 $1,634,000 Payments for acquisition of property, plant & equipment-$11,085,000 -$7,309,000 -$10,495,000 Other cash flow from investing activities -$608,000 -$791,000 -$1,078,000 Net cash flows from investing activities -$14,545,000 -$4,289,000 $45,896,000 Proceeds from issuance of common stock $1,105,000 $880,000 $781,000 Payments for taxes related to net share settlement of equity awards-$6,556,000 -$3,634,000 -$2,817,000 Payments for dividends & dividend equivalents -$14,467,000 -$14,081,000 -$14,119,000 Repurchases of common stock -$85,971,000 -$72,358,000 -$66,897,000 Proceeds from issuance of term debt, net $20,393,000 $16,091,000 $6,963,000 Repayments of term debt -$8,750,000 -$12,629,000 -$8,805,000 Proceeds from/(repayments of) commercial paper, net$1,022,000 -$963,000 -$5,977,000 Other cash flows from financing activities -$129,000 -$126,000 -$105,000 Net cash flows from financing activities -$93,353,000 -$86,820,000 -$90,976,000 Net increase (decrease) in cash, cash equivalents & restricted cash-$3,860,000 -$10,435,000 $24,311,000 Cash, cash equivalents & restricted cash, beginning balances$39,789,000 $50,224,000 $25,913,000 Cash, cash equivalents & restricted cash, ending balances$35,929,000 $39,789,000 $50,224,000 Cash paid (received) for income taxes, net $25,385,000 $9,501,000 $15,263,000 Cash paid for interest $2,687,000 $3,002,000 $3,423,000

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