Note 5 - Stockholders' Equity |
Note 5 — Stockholders’ Equity
Changes in stockholders’ equity for the nine months ended June 29, 2014 were as follows (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Qualcomm Stockholders’ Equity |
|
Noncontrolling Interests |
|
Total Stockholders’ Equity |
Balance at September 29, 2013 |
$ |
36,088 |
|
|
$ |
(1 |
) |
|
$ |
36,087 |
|
Net income (loss) (1)
|
6,073 |
|
|
(3 |
) |
|
6,070 |
|
Other comprehensive income |
72 |
|
|
— |
|
|
72 |
|
Common stock issued under employee benefit plans and related tax benefits, net of shares withheld for taxes |
987 |
|
|
— |
|
|
987 |
|
Share-based compensation |
838 |
|
|
— |
|
|
838 |
|
Dividends |
(1,916 |
) |
|
— |
|
|
(1,916 |
) |
Stock repurchases |
(3,354 |
) |
|
— |
|
|
(3,354 |
) |
Other |
1 |
|
|
2 |
|
|
3 |
|
Balance at June 29, 2014 |
$ |
38,789 |
|
|
$ |
(2 |
) |
|
$ |
38,787 |
|
|
|
(1) |
Discontinued operations, net of income taxes (Note 8) was attributable to Qualcomm. |
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 29, 2014 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 29, 2013 |
$ |
(115 |
) |
|
$ |
25 |
|
|
$ |
825 |
|
|
$ |
18 |
|
|
$ |
753 |
|
Other comprehensive income before reclassifications |
14 |
|
|
1 |
|
|
356 |
|
|
8 |
|
|
379 |
|
Reclassifications from accumulated other comprehensive income |
1 |
|
(a) |
(1 |
) |
(a) |
(287 |
) |
(a) |
(20 |
) |
(b) |
(307 |
) |
Other comprehensive income (loss) |
15 |
|
|
— |
|
|
69 |
|
|
(12 |
) |
|
72 |
|
Balance at June 29, 2014 |
$ |
(100 |
) |
|
$ |
25 |
|
|
$ |
894 |
|
|
$ |
6 |
|
|
$ |
825 |
|
|
|
(a) |
Reclassifications from accumulated other comprehensive income of $163 million and $287 million for the three and nine months ended June 29, 2014, respectively, were recorded in investment income, net (Note 3).
|
|
|
(b) |
Reclassifications from accumulated other comprehensive income of $7 million and $20 million for the three and nine months ended June 29, 2014, respectively, were recorded in revenues, cost of equipment and services revenues, research and development expenses and selling, general and administrative expenses.
|
Stock Repurchase Program. During the nine months ended June 29, 2014 and June 30, 2013, the Company repurchased and retired 44,609,000 and 21,009,000 shares, respectively, of the Company’s common stock for $3.4 billion and $1.3 billion, respectively, before commissions. On March 4, 2014, the Company announced that it had been authorized to repurchase up to $7.8 billion of the Company’s common stock. The stock repurchase program has no expiration date. At June 29, 2014, approximately $6.5 billion remained available for repurchase.
Dividends. On July 18, 2014, the Company announced a cash dividend of $0.42 per share on the Company’s common stock, payable on September 24, 2014 to stockholders of record as of the close of business on September 3, 2014. During the nine months ended June 29, 2014 and June 30, 2013, dividends charged to retained earnings were as follows (in millions, except per share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014 |
|
2013 |
|
Per Share |
|
Total |
|
Per Share |
|
Total |
First quarter |
$ |
0.35 |
|
|
$ |
599 |
|
|
$ |
0.25 |
|
|
$ |
435 |
|
Second quarter |
0.35 |
|
|
599 |
|
|
0.25 |
|
|
439 |
|
Third quarter |
0.42 |
|
|
718 |
|
|
0.35 |
|
|
615 |
|
|
$ |
1.12 |
|
|
$ |
1,916 |
|
|
$ |
0.85 |
|
|
$ |
1,489 |
|
|