Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Notes)

v3.5.0.2
Stockholders' Equity (Notes)
 9 Months Ended
Jun. 26, 2016
Stockholders' Equity Attributable to Parent [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Changes in stockholders’ equity for the nine months ended June 26, 2016 were as follows (in millions):
 
Qualcomm Stockholders’ Equity
 
Noncontrolling Interests
 
Total Stockholders’ Equity
Balance at September 27, 2015
$
31,421

 
$
(7
)
 
$
31,414

Net income (loss)
4,106

 
(3
)
 
4,103

Other comprehensive income
149

 
—

 
149

Common stock issued under employee benefit plans and related tax benefits
364

 
—

 
364

Share-based compensation
771

 
—

 
771

Tax withholdings related to vesting of share-based payments
(216
)
 
—

 
(216
)
Dividends
(2,250
)
 
—

 
(2,250
)
Stock repurchases
(3,699
)
 
—

 
(3,699
)
Other
1

 
1

 
2

Balance at June 26, 2016
$
30,647

 
$
(9
)
 
$
30,638


Accumulated Other Comprehensive Income. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity during the nine months ended June 26, 2016 were as follows (in millions):
 
Foreign Currency Translation Adjustment
 
Noncredit Other-than-Temporary Impairment Losses and Subsequent Changes in Fair Value for Certain Available-for-Sale Debt Securities
 
Net Unrealized Gain (Loss) on Other Available-for-Sale Securities
 
Net Unrealized Gain (Loss) on Derivative Instruments
 
Total Accumulated Other Comprehensive Income
Balance at September 27, 2015
$
(160
)
 
$
4

 
$
297

 
$
54

 
$
195

Other comprehensive (loss) income before reclassifications
(6
)
 
8

 
135

 
(4
)
 
133

Reclassifications from accumulated other comprehensive income (loss)
21

 
(11
)
 
6

 
—

 
16

Other comprehensive income (loss)
15

 
(3
)
 
141

 
(4
)
 
149

Balance at June 26, 2016
$
(145
)
 
$
1

 
$
438

 
$
50

 
$
344


Reclassifications from accumulated other comprehensive income related to net gains on available-for-sale securities of $22 million and $5 million for the three and nine months ended June 26, 2016, respectively, and $48 million and $166 million for the three and nine months ended June 28, 2015, respectively, were recorded in investment income, net (Note 2). Reclassifications from accumulated other comprehensive income related to foreign currency translation losses of $15 million and $21 million for the three and nine months ended June 26, 2016, respectively, were recorded in selling, general and administrative expenses and other operating expenses. Reclassifications from accumulated other comprehensive income related to foreign currency translation adjustments during the three and nine months ended June 28, 2015 were negligible.
Stock Repurchase Program. On March 9, 2015, the Company announced a stock repurchase program authorizing it to repurchase up to $15 billion of the Company’s common stock. The stock repurchase program has no expiration date. In May 2015, the Company entered into two accelerated share repurchase agreements (ASR Agreements) with two financial institutions under which the Company paid an aggregate of $5.0 billion upfront to the financial institutions and received from them an initial delivery of 57,737,000 shares of the Company’s common stock, which were retired. The ASR Agreements were settled in the fourth quarter of fiscal 2015. During the nine months ended June 28, 2015, the Company repurchased and retired an additional 56,652,000 shares of common stock for $4.0 billion, before commissions. During the nine months ended June 26, 2016, the Company repurchased and retired 70,168,000 shares of common stock for $3.7 billion, before commissions. At June 26, 2016, $3.2 billion remained authorized for repurchase under the Company’s stock repurchase program.
Dividends. On July 12, 2016, the Company announced a cash dividend of $0.53 per share on the Company’s common stock, payable on September 21, 2016 to stockholders of record as of the close of business on August 31, 2016. During the nine months ended June 26, 2016 and June 28, 2015, dividends charged to retained earnings were as follows (in millions, except per share data):
 
2016
 
2015
 
Per Share
 
Total
 
Per Share
 
Total
First quarter
$
0.48

 
$
730

 
$
0.42

 
$
710

Second quarter
0.48

 
726

 
0.42

 
702

Third quarter
0.53

 
794

 
0.48

 
771

 
$
1.49

 
$
2,250

 
$
1.32

 
$
2,183