Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Notes)

v3.7.0.1
Stockholders' Equity (Notes)
 6 Months Ended
Mar. 26, 2017
Stockholders' Equity Attributable to Parent [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Changes in stockholders’ equity in the six months ended March 26, 2017 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
1,431

 
—

 
1,431

Other comprehensive loss
(198
)
 
—

 
(198
)
Common stock issued under employee benefit plans and related tax benefits
320

 
—

 
320

Share-based compensation
515

 
—

 
515

Tax withholdings related to vesting of share-based payments
(175
)
 
—

 
(175
)
Dividends
(1,599
)
 
—

 
(1,599
)
Stock repurchases
(727
)
 
—

 
(727
)
Other
(1
)
 
—

 
(1
)
Balance at March 26, 2017
$
31,344

 
$
(10
)
 
$
31,334


Accumulated Other Comprehensive Income. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity in the six months ended March 26, 2017 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
(10
)
 
6

 
(141
)
 
(3
)
 
(148
)
Reclassifications from accumulated other comprehensive income (loss)
—

 
11

 
(59
)
 
(2
)
 
(50
)
Other comprehensive (loss) income
(10
)
 
17

 
(200
)
 
(5
)
 
(198
)
Balance at March 26, 2017
$
(171
)
 
$
23

 
$
332

 
$
46

 
$
230


Reclassifications from accumulated other comprehensive income related to available-for-sale securities of $35 million and $48 million in the three and six months ended March 26, 2017, respectively, and $11 million and $18 million in the three and six months ended March 27, 2016, 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 and six months ended March 27, 2016 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 six months ended March 26, 2017 and March 27, 2016, the Company repurchased and retired 11,488,000 and 68,335,000 shares for $727 million and $3.6 billion, respectively, before commissions. At March 26, 2017, $2.3 billion remained authorized for repurchase under the Company’s stock repurchase program.
Dividends. On March 7, 2017, the Company announced a 7.5% increase in its quarterly cash dividend from $0.53 to $0.57 per share of common stock, which is effective for dividends payable after March 22, 2017. On April 12, 2017, the Company announced a cash dividend of $0.57 per share on the Company’s common stock, payable on June 21, 2017 to stockholders of record as of the close of business on May 31, 2017. In the six months ended March 26, 2017 and March 27, 2016, dividends charged to retained earnings were as follows (in millions, except per share data):
 
2017
 
2016
 
Per Share
 
Total
 
Per Share
 
Total
First quarter
$
0.53

 
$
801

 
$
0.48

 
$
730

Second quarter
0.53

 
798

 
0.48

 
726

 
$
1.06

 
$
1,599

 
$
0.96

 
$
1,456