Apple's 10-k SEC Filing Reveals $1 Billion Bump in R&D
November 1, 2012 8:02 AM
While this was a nice bump from previous fiscal years, it doesn't quite match up to its tech competitors
Apple recently submitted its 10-k filing with the
U.S. Securities and Exchange Commission (SEC)
for 2012, and it looks like the company has bumped up its spending in research.
According to the filing, Apple spent $3.4 billion on research and development (R&D) in the fiscal year 2012. This was a $1 billion increase from 2011. The company spent $1.8 billion in 2010.
While this was a nice bump from previous fiscal years, it doesn't quite match up to its tech competitors. Google spent $5.2 billion on R&D in 2011, which was a 36 percent boost from 2010. Microsoft beat both of them with $9.8 billion spent on R&D in 2012, which was an 8 percent increase from 2011.
Apple also spilled some retail-related details in its latest filing. The company added 33 new retail stores in 2012, and had a 33 percent retail sales growth. This boosted retail floor space from 13.2 million square feet to 17.3 million square feet this year. However, Apple's stores accounted for 12 percent of net sales, which was a drop from 13 percent in 2011 and 15 percent in 2010.
The tech giant plans to open 30-35 retail stores in 2013, which is a sizable increase from previous years.
Apple also went on a hiring spree, jumping from 60,400 full-time employees in 2011 to 72,800 in 2012. Apple has 118,500 employees worldwide, where about 35 percent are retail employees.
Apple was recently forced to admit that it made a mistake with a hiring formula implemented by Apple Retail head John Browett.
Browett was recently fired
after many employees were laid off and part-timers had their hours cut.
Last but not least, another interesting note from Apple's filing shows that land holdings rose from 584 acres in 2011 to 1,077 acres in 2012. This is largely due to
its data center
in Prineville, Oregon and its solar center in Maiden, North Carolina.
Apple plans to power its
Maiden, North Carolina data center
with 100 percent renewable energy this year, and will run its other data centers the same way by early 2013.
Its three data centers include Maiden, North Carolina; Newark, California, and the one currently being built in Prineville, Oregon.
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