Revenue

6 Months Ended

Apr. 01, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Net sales disaggregated by significant products and services for the three- and six-month periods ended April 1, 2023 and March 26, 2022 were as follows (in millions):

	Three Months Ended				Six Months Ended
	April 1, 2023		March 26, 2022		April 1, 2023		March 26, 2022
iPhone®	$	51,334	$	50,570	$	117,109	$	122,198
Mac®	7,168		10,435		14,903		21,287
iPad®	6,670		7,646		16,066		14,894
Wearables, Home and Accessories	8,757		8,806		22,239		23,507
Services	20,907		19,821		41,673		39,337
Total net sales	$	94,836	$	97,278	$	211,990	$	221,223

Total net sales include $3.5 billion of revenue recognized in the three months ended April 1, 2023 that was included in deferred revenue as of December 31, 2022, $3.0 billion of revenue recognized in the three months ended March 26, 2022 that was included in deferred revenue as of December 25, 2021, $5.5 billion of revenue recognized in the six months ended April 1, 2023 that was included in deferred revenue as of September 24, 2022, and $4.8 billion of revenue recognized in the six months ended March 26, 2022 that was included in deferred revenue as of September 25, 2021.

The Company’s proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 10, “Segment Information and Geographic Data” for the three- and six-month periods ended April 1, 2023 and March 26, 2022, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales.

As of April 1, 2023 and September 24, 2022, the Company had total deferred revenue of $12.5 billion and $12.4 billion, respectively. As of April 1, 2023, the Company expects 65% of total deferred revenue to be realized in less than a year, 26% within one-to-two years, 7% within two-to-three years and 2% in greater than three years.