Composition of Certain Financial Statement Items (Tables)
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12 Months Ended |
Sep. 24, 2017 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| Accounts Receivable |
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|
Accounts Receivable (in millions) |
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|
|
|
September 24, 2017 |
|
September 25, 2016 |
Trade, net of allowances for doubtful accounts of $11 and $1, respectively |
$ |
3,576 |
|
|
$ |
2,194 |
|
Long-term contracts |
40 |
|
|
20 |
|
Other |
16 |
|
|
5 |
|
|
$ |
3,632 |
|
|
$ |
2,219 |
|
|
| Inventories |
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|
|
|
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Inventories (in millions) |
|
|
|
|
September 24, 2017 |
|
September 25, 2016 |
Raw materials |
$ |
103 |
|
|
$ |
1 |
|
Work-in-process |
799 |
|
|
847 |
|
Finished goods |
1,133 |
|
|
708 |
|
|
$ |
2,035 |
|
|
$ |
1,556 |
|
|
| Property, Plant and Equipment |
|
|
|
|
|
|
|
|
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Property, Plant and Equipment (in millions) |
September 24, 2017 |
|
September 25, 2016 |
Land |
$ |
195 |
|
|
$ |
192 |
|
Buildings and improvements |
1,595 |
|
|
1,545 |
|
Computer equipment and software |
1,609 |
|
|
1,426 |
|
Machinery and equipment |
3,528 |
|
|
2,454 |
|
Furniture and office equipment |
109 |
|
|
77 |
|
Leasehold improvements |
310 |
|
|
254 |
|
Construction in progress |
73 |
|
|
92 |
|
|
7,419 |
|
|
6,040 |
|
Less accumulated depreciation and amortization |
(4,203 |
) |
|
(3,734 |
) |
|
$ |
3,216 |
|
|
$ |
2,306 |
|
|
| Goodwill |
Goodwill and Other Intangible Assets. The Company allocates goodwill to its reporting units for annual impairment testing purposes. The following table presents the goodwill allocated to the Company’s reportable and nonreportable segments, as described in Note 8, as well as the changes in the carrying amounts of goodwill during fiscal 2017 and 2016 (in millions):
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QCT |
|
QTL |
|
Nonreportable Segments |
|
Total |
Balance at September 27, 2015 |
$ |
4,461 |
|
|
$ |
718 |
|
|
$ |
300 |
|
|
$ |
5,479 |
|
Acquisitions |
172 |
|
|
— |
|
|
— |
|
|
172 |
|
Impairments |
— |
|
|
— |
|
|
(17 |
) |
|
(17 |
) |
Other (1) |
41 |
|
|
— |
|
|
4 |
|
|
45 |
|
Balance at September 25, 2016 (2) |
4,674 |
|
|
718 |
|
|
287 |
|
|
5,679 |
|
Acquisitions |
841 |
|
|
23 |
|
|
11 |
|
|
875 |
|
Impairments |
— |
|
|
— |
|
|
— |
|
|
— |
|
Other (1) |
66 |
|
|
— |
|
|
3 |
|
|
69 |
|
Balance at September 24, 2017 (2) |
$ |
5,581 |
|
|
$ |
741 |
|
|
$ |
301 |
|
|
$ |
6,623 |
|
|
|
(1) |
Includes changes in goodwill amounts resulting from foreign currency translation, purchase accounting adjustments and, in fiscal 2016, the sale of the Company’s business that provided augmented reality applications. |
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|
(2) |
Cumulative goodwill impairments were $537 million at both September 24, 2017 and September 25, 2016.
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|
| Intangible Assets |
The components of other intangible assets, net were as follows (in millions):
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September 24, 2017 |
|
September 25, 2016 |
|
Gross Carrying
Amount
|
|
Accumulated
Amortization
|
|
Weighted-average amortization period
(years)
|
|
Gross Carrying
Amount
|
|
Accumulated
Amortization
|
|
Weighted-average amortization period
(years)
|
Wireless spectrum |
$ |
1 |
|
|
$ |
— |
|
|
20 |
|
$ |
2 |
|
|
$ |
(2 |
) |
|
5 |
Marketing-related |
77 |
|
|
(52 |
) |
|
4 |
|
119 |
|
|
(77 |
) |
|
8 |
Technology-based |
6,413 |
|
|
(2,818 |
) |
|
10 |
|
5,900 |
|
|
(2,459 |
) |
|
10 |
Customer-related |
149 |
|
|
(33 |
) |
|
9 |
|
21 |
|
|
(4 |
) |
|
7 |
|
$ |
6,640 |
|
|
$ |
(2,903 |
) |
|
10 |
|
$ |
6,042 |
|
|
$ |
(2,542 |
) |
|
10 |
|
| Other Current Liabilities |
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|
|
|
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Other Current Liabilities (in millions) |
|
|
|
|
September 24,
2017 |
|
September 25,
2016 |
Customer incentives and other customer-related liabilities |
$ |
2,804 |
|
|
$ |
1,710 |
|
Accrual for TFTC fine (Note 7) |
778 |
|
|
— |
|
Other |
1,174 |
|
|
551 |
|
|
$ |
4,756 |
|
|
$ |
2,261 |
|
|
| Other Comprehensive Income |
Other Comprehensive Income. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity during fiscal 2017 were as follows (in millions):
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|
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 |
|
Other Gains |
|
Total Accumulated Other Comprehensive Income |
Balance at September 25, 2016 |
$ |
(161 |
) |
|
$ |
6 |
|
|
$ |
532 |
|
|
$ |
51 |
|
|
$ |
— |
|
|
$ |
428 |
|
Other comprehensive (loss) income before reclassifications |
309 |
|
|
6 |
|
|
(102 |
) |
|
(49 |
) |
|
4 |
|
|
168 |
|
Reclassifications from accumulated other comprehensive income |
(1 |
) |
|
11 |
|
|
(212 |
) |
|
(10 |
) |
|
— |
|
|
(212 |
) |
Other comprehensive (loss) income |
308 |
|
|
17 |
|
|
(314 |
) |
|
(59 |
) |
|
4 |
|
|
(44 |
) |
Balance at September 24, 2017 |
$ |
147 |
|
|
$ |
23 |
|
|
$ |
218 |
|
|
$ |
(8 |
) |
|
$ |
4 |
|
|
$ |
384 |
|
|
| Investment and Other Income, net |
|
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Investment and Other Income, Net (in millions) |
|
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|
2017 |
|
2016 |
|
2015 |
Interest and dividend income |
$ |
619 |
|
|
$ |
611 |
|
|
$ |
527 |
|
Net realized gains on marketable securities |
456 |
|
|
239 |
|
|
451 |
|
Net realized gains on other investments |
74 |
|
|
49 |
|
|
49 |
|
Impairment losses on marketable securities |
(131 |
) |
|
(112 |
) |
|
(163 |
) |
Impairment losses on other investments |
(46 |
) |
|
(60 |
) |
|
(37 |
) |
Net gains (losses) on derivative instruments |
32 |
|
|
(8 |
) |
|
17 |
|
Equity in net losses of investees |
(74 |
) |
|
(84 |
) |
|
(32 |
) |
Net losses on foreign currency transactions |
(30 |
) |
|
— |
|
|
— |
|
Net gains on deconsolidation of subsidiaries |
— |
|
|
— |
|
|
3 |
|
|
$ |
900 |
|
|
$ |
635 |
|
|
$ |
815 |
|
|