Revision of Prior Year Financial Statements [Table Text Block] |
Revised Consolidated Balance Sheets.
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As of September 30, 2018 |
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As of September 24, 2017 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Deferred tax assets (non-current) |
$ |
904 |
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$ |
32 |
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$ |
936 |
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$ |
2,900 |
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$ |
12 |
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$ |
2,912 |
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Total assets |
32,686 |
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32 |
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32,718 |
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65,486 |
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12 |
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65,498 |
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Other current liabilities |
6,825 |
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153 |
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6,978 |
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4,756 |
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33 |
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4,789 |
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Total current liabilities |
11,236 |
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153 |
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11,389 |
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10,907 |
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33 |
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10,940 |
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Total liabilities |
31,758 |
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153 |
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31,911 |
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34,740 |
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33 |
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34,773 |
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Retained earnings |
663 |
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(121 |
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542 |
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30,088 |
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(21 |
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30,067 |
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Total stockholders’ equity |
928 |
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(121 |
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807 |
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30,746 |
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(21 |
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30,725 |
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Total liabilities and stockholders’ equity |
32,686 |
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32 |
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32,718 |
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65,486 |
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12 |
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65,498 |
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Revised Consolidated Statements of Operations.
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Year Ended |
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September 30, 2018 |
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September 24, 2017 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Licensing revenues |
$ |
5,332 |
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$ |
(121 |
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$ |
5,211 |
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$ |
5,644 |
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$ |
(33 |
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$ |
5,611 |
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Total revenues |
22,732 |
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(121 |
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22,611 |
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22,291 |
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(33 |
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22,258 |
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Operating income |
742 |
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(121 |
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621 |
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2,614 |
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(33 |
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2,581 |
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Income before income taxes |
513 |
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(121 |
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392 |
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3,020 |
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(33 |
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2,987 |
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Income tax expense |
(5,377 |
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21 |
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(5,356 |
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(555 |
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12 |
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(543 |
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Net (loss) income |
(4,864 |
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(100 |
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(4,964 |
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2,465 |
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(21 |
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2,444 |
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Net (loss) income attributable to Qualcomm |
(4,864 |
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(100 |
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(4,964 |
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2,466 |
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(21 |
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2,445 |
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Basic (loss) earnings per share |
(3.32 |
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(0.07 |
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(3.39 |
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1.67 |
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(0.01 |
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1.66 |
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Diluted (loss) earnings per share |
(3.32 |
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(0.07 |
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(3.39 |
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1.65 |
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(0.01 |
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1.64 |
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Three Months Ended September 30, 2018 |
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Three Months Ended June 24, 2018 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Licensing revenues |
$ |
1,153 |
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$ |
(25 |
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$ |
1,128 |
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$ |
1,489 |
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$ |
(22 |
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$ |
1,467 |
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Total revenues |
5,803 |
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(25 |
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5,778 |
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5,599 |
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(22 |
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5,577 |
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Operating (loss) income |
(654 |
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(25 |
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(679 |
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925 |
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(22 |
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903 |
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(Loss) income before income taxes |
(775 |
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(25 |
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(800 |
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956 |
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(22 |
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934 |
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Income tax benefit |
282 |
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5 |
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287 |
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263 |
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5 |
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268 |
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Net (loss) income |
(493 |
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(20 |
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(513 |
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1,219 |
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(17 |
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1,202 |
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Basic (loss) earnings per share |
(0.35 |
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(0.01 |
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(0.36 |
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0.82 |
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(0.01 |
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0.81 |
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Diluted (loss) earnings per share |
(0.35 |
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(0.01 |
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(0.36 |
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0.82 |
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(0.01 |
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0.81 |
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Three Months Ended March 25, 2018 |
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Three Months Ended December 24, 2017 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Licensing revenues |
$ |
1,325 |
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$ |
(41 |
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$ |
1,284 |
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$ |
1,364 |
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$ |
(33 |
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$ |
1,331 |
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Total revenues |
5,261 |
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(41 |
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5,220 |
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6,068 |
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(33 |
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6,035 |
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Operating income (loss) |
441 |
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(41 |
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400 |
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29 |
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(33 |
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(4 |
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Income (loss) before income taxes |
358 |
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(41 |
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317 |
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(27 |
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(33 |
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(60 |
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Income tax benefit (expense) |
5 |
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8 |
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13 |
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(5,926 |
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3 |
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(5,923 |
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Net income (loss) |
363 |
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(33 |
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330 |
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(5,953 |
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(30 |
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(5,983 |
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Basic earnings (loss) per share |
0.25 |
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(0.03 |
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0.22 |
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(4.03 |
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(0.02 |
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(4.05 |
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Diluted earnings (loss) per share |
0.24 |
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(0.02 |
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0.22 |
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(4.03 |
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(0.02 |
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(4.05 |
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Three Months Ended September 24, 2017 |
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Three Months Ended June 25, 2017 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Licensing revenues |
$ |
1,207 |
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$ |
(17 |
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$ |
1,190 |
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$ |
1,250 |
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$ |
(15 |
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$ |
1,235 |
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Total revenues |
5,905 |
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(17 |
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5,888 |
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5,371 |
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(15 |
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5,356 |
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Operating income |
333 |
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(17 |
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316 |
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773 |
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(15 |
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758 |
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Income before income taxes |
434 |
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(17 |
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417 |
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858 |
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(15 |
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843 |
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Income tax (expense) benefit |
(266 |
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6 |
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(260 |
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7 |
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5 |
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12 |
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Net income |
168 |
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(11 |
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157 |
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865 |
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(10 |
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855 |
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Net income attributable to Qualcomm |
168 |
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(11 |
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157 |
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866 |
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(10 |
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856 |
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Basic earnings per share |
0.11 |
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— |
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0.11 |
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0.59 |
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(0.01 |
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0.58 |
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Diluted earnings per share |
0.11 |
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— |
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0.11 |
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0.58 |
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(0.01 |
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0.57 |
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Amounts, other than per share amounts, are rounded to millions each quarter. Therefore, the sum of the quarterly amounts may not equal the annual amounts reported.
Revised Consolidated Statements of Comprehensive Income (Loss).
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Year Ended |
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September 30, 2018 |
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September 24, 2017 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Net (loss) income |
$ |
(4,864 |
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$ |
(100 |
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$ |
(4,964 |
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$ |
2,465 |
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$ |
(21 |
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$ |
2,444 |
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Total comprehensive (loss) income |
(4,983 |
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(100 |
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(5,083 |
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2,421 |
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(21 |
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2,400 |
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Comprehensive (loss) income attributable to Qualcomm |
(4,983 |
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(100 |
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(5,083 |
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2,422 |
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(21 |
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2,401 |
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Three Months Ended June 24, 2018 |
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Three Months Ended March 25, 2018 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Net income |
$ |
1,219 |
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$ |
(17 |
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$ |
1,202 |
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$ |
363 |
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$ |
(33 |
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$ |
330 |
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Total comprehensive income |
997 |
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(17 |
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980 |
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523 |
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(33 |
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490 |
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Three Months Ended December 24, 2017 |
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Three Months Ended June 25, 2017 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Net (loss) income |
$ |
(5,953 |
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$ |
(30 |
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$ |
(5,983 |
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$ |
865 |
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$ |
(10 |
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$ |
855 |
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Total comprehensive (loss) income |
(5,951 |
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(30 |
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(5,981 |
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925 |
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(10 |
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915 |
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Comprehensive (loss) income attributable to Qualcomm |
(5,951 |
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(30 |
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(5,981 |
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926 |
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(10 |
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916 |
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Revised Consolidated Statements of Cash Flows.
We revised our condensed consolidated statements of cash flows for the years ended September 30, 2018 and September 24, 2017 and the three months ended December 24, 2017 for this correction, which had no impact to net cash provided by operating activities in each such period.
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Year Ended |
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September 30, 2018 |
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September 24, 2017 |
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As reported |
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Adjustment |
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As revised |
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As reported |
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Adjustment |
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As revised |
Operating Activities: |
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Net (loss) income |
$ |
(4,864 |
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$ |
(100 |
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$ |
(4,964 |
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$ |
2,465 |
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$ |
(21 |
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$ |
2,444 |
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Income tax provision in excess of (less than) income tax payments |
4,502 |
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(21 |
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4,481 |
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(400 |
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(12 |
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(412 |
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Payroll, benefits and other liabilities |
687 |
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121 |
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|
808 |
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2,103 |
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33 |
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2,136 |
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Net cash provided by operating activities |
3,895 |
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— |
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3,895 |
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|
5,001 |
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— |
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5,001 |
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Three Months Ended December 24, 2017 |
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As reported |
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Reclassification adjustment (1) |
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Revision adjustment |
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As revised |
Operating Activities: |
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Net loss |
$ |
(5,953 |
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$ |
— |
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$ |
(30 |
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$ |
(5,983 |
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Income tax provision in excess of (less than) income tax payments |
5,697 |
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— |
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(3 |
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5,694 |
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Other items, net |
57 |
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(82 |
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— |
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(25 |
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Other assets |
(56 |
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(6 |
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— |
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(62 |
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Payroll, benefits and other liabilities |
1,000 |
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88 |
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33 |
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1,121 |
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Net cash provided by operating activities |
1,762 |
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— |
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— |
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1,762 |
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(1) Certain previously reported amounts have been reclassified to conform to the current year presentation.
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