Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Notes)

v3.3.1.900
Stockholders' Equity (Notes)
 3 Months Ended
Dec. 27, 2015
Stockholders' Equity Attributable to Parent [Abstract]  
Stockholders' Equity
Note 4. Stockholders’ Equity
Changes in stockholders’ equity for the three months ended December 27, 2015 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)
1,498

 
(2
)
 
1,496

Other comprehensive loss
(126
)
 
—

 
(126
)
Common stock issued under employee benefit plans and related tax benefits
70

 
—

 
70

Share-based compensation
260

 
—

 
260

Tax withholdings related to vesting of share-based payments
(102
)
 
—

 
(102
)
Dividends
(730
)
 
—

 
(730
)
Stock repurchases
(2,050
)
 
—

 
(2,050
)
Issuance of subsidiary shares to noncontrolling interest
—

 
1

 
1

Balance at December 27, 2015
$
30,241

 
$
(8
)
 
$
30,233


Accumulated Other Comprehensive Income. Other comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, other than net income and including foreign currency translation adjustments and unrealized gains and losses on marketable securities and derivative instruments. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity during the three months ended December 27, 2015 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 income (loss) before reclassifications
(14
)
 
(11
)
 
(109
)
 
1

 
(133
)
Reclassifications from accumulated other comprehensive income (loss)
1

 
(3
)
 
9

 
—

 
7

Other comprehensive income (loss)
(13
)
 
(14
)
 
(100
)
 
1

 
(126
)
Balance at December 27, 2015
$
(173
)
 
$
(10
)
 
$
197

 
$
55

 
$
69


Reclassifications from accumulated other comprehensive income related to available-for-sale securities of $6 million and $71 million for the three months ended December 27, 2015 and December 28, 2014, respectively, were recorded in investment income, net (Note 2).
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. During the three months ended December 27, 2015 and December 28, 2014, the Company repurchased and retired 36,606,000 and 22,940,000 shares of common stock, respectively, for $2.05 billion and $1.66 billion, respectively, before commissions. At December 27, 2015, $4.9 billion remained authorized for repurchase under the Company’s stock repurchase program.
Dividends. Cash dividends announced in the three months ended December 27, 2015 and December 28, 2014 were $0.48 and $0.42 per share, respectively. During the three months ended December 27, 2015 and December 28, 2014, dividends charged to retained earnings were $730 million and $710 million, respectively. On January 12, 2016, the Company announced a cash dividend of $0.48 per share on the Company’s common stock, payable on March 23, 2016 to stockholders of record as of the close of business on March 2, 2016.