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Apple Inc. Message Board

  • scjohnson4047 Mar 13, 2013 11:50 AM Flag

    silence on a day when they could create some news.

    Apple idiots dont take advantage of a day that they could put out some news about something. its a slow day and they could take the headlines with something. they dont understand offense and defense

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    • Apple management knows if price stays low until August, this benefits company and longs the most due to ASR based on average price for the year. Apple and Tim Cook are willing to take all the bad press to receive 40% more on their purchase. They are very shrewd and your are the idiot.
      In August 2012, the Company entered into an accelerated share repurchase program (“ASR”) with a financial institution to purchase up to $1.95 billion of the Company’s common stock in 2013. In exchange for an up-front payment of $1.95 billion, the financial institution committed to deliver a number of shares during the ASR’s purchase period, which ends later in 2013. The total number of shares ultimately delivered, and therefore the average price paid per share, will be determined at the end of the purchase period based on the volume weighted average price of the Company’s stock during that period. In the first quarter of 2013, 2,582,782 shares were initially delivered to the Company. This does not represent the final number of shares to be delivered under the ASR. These shares were retired and accounted for as a reduction to shareholders’ equity in the Company’s Condensed Consolidated Balance Sheet. The Company accounted for the ASR as a repurchase of common stock for purposes of calculating earnings per share and as a forward contract indexed to its own common stock which met all of the applicable criteria for equity classification, and, therefore, was not accounted for as a derivative instrument.

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