Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Notes)

v3.6.0.2
Stockholders' Equity (Notes)
 3 Months Ended
Dec. 25, 2016
Stockholders' Equity Attributable to Parent [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Changes in stockholders’ equity in the three months ended December 25, 2016 were as follows (in millions):
 
Qualcomm Stockholders’ Equity
 
Noncontrolling Interests
 
Total Stockholders’ Equity
Balance at September 25, 2016
$
31,778

 
$
(10
)
 
$
31,768

Net income (loss)
682

 
(1
)
 
681

Other comprehensive loss
(242
)
 
—

 
(242
)
Common stock issued under employee benefit plans and related tax benefits
161

 
—

 
161

Share-based compensation
255

 
—

 
255

Tax withholdings related to vesting of share-based payments
(172
)
 
—

 
(172
)
Dividends
(801
)
 
—

 
(801
)
Stock repurchases
(444
)
 
—

 
(444
)
Other
(2
)
 
2

 
—

Balance at December 25, 2016
$
31,215

 
$
(9
)
 
$
31,206


Accumulated Other Comprehensive Income. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity in the three months ended December 25, 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 25, 2016
$
(161
)
 
$
6

 
$
532

 
$
51

 
$
428

Other comprehensive (loss) income before reclassifications
(27
)
 
6

 
(210
)
 
2

 
(229
)
Reclassifications from accumulated other comprehensive income (loss)
—

 
11

 
(24
)
 
—

 
(13
)
Other comprehensive (loss) income
(27
)
 
17

 
(234
)
 
2

 
(242
)
Balance at December 25, 2016
$
(188
)
 
$
23

 
$
298

 
$
53

 
$
186


Reclassifications from accumulated other comprehensive income related to available-for-sale securities of $13 million and $6 million in the three months ended December 25, 2016 and December 27, 2015, respectively, were recorded in investment income, net (Note 2). Reclassifications from accumulated other comprehensive income related to foreign currency translation losses were negligible in the three months ended December 27, 2015 and were recorded in selling, general and administrative expenses and other operating expenses.
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 the three months ended December 25, 2016 and December 27, 2015, the Company repurchased and retired 6,647,000 and 36,606,000 shares for $444 million and $2.05 billion, respectively, before commissions. At December 25, 2016, $2.5 billion remained authorized for repurchase under the Company’s stock repurchase program.
Dividends. Cash dividends announced in the three months ended December 25, 2016 and December 27, 2015 were $0.53 and $0.48 per share, respectively. Dividends charged to retained earnings in the three months ended December 25, 2016 and December 27, 2015 were $801 million and $730 million, respectively. On January 12, 2017, the Company announced a cash dividend of $0.53 per share on the Company’s common stock, payable on March 22, 2017 to stockholders of record as of the close of business on March 1, 2017.