Quarterly report pursuant to Section 13 or 15(d)

Revision of Prior Period Financial Statements Revision of Prior Period Financial Statements (Tables)

v3.10.0.1
Revision of Prior Period Financial Statements Revision of Prior Period Financial Statements (Tables)
3 Months Ended
Dec. 30, 2018
Prior Period Revision Adjustments [Line Items]  
Revision of Prior Year Financial Statements [Table Text Block]
Revised Consolidated Balance Sheets.
 
As of September 30, 2018
 
As of September 24, 2017
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Deferred tax assets (non-current)
$
904

 
$
32

 
$
936

 
$
2,900

 
$
12

 
$
2,912

Total assets
32,686

 
32

 
32,718

 
65,486

 
12

 
65,498

Other current liabilities
6,825

 
153

 
6,978

 
4,756

 
33

 
4,789

Total current liabilities
11,236

 
153

 
11,389

 
10,907

 
33

 
10,940

Total liabilities
31,758

 
153

 
31,911

 
34,740

 
33

 
34,773

Retained earnings
663

 
(121
)
 
542

 
30,088

 
(21
)
 
30,067

Total stockholders’ equity
928

 
(121
)
 
807

 
30,746

 
(21
)
 
30,725

Total liabilities and stockholders’ equity
32,686

 
32

 
32,718

 
65,486

 
12

 
65,498

Revised Consolidated Statements of Operations.
 
Year Ended
 
September 30, 2018
 
September 24, 2017
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Licensing revenues
$
5,332

 
$
(121
)
 
$
5,211

 
$
5,644

 
$
(33
)
 
$
5,611

Total revenues
22,732

 
(121
)
 
22,611

 
22,291

 
(33
)
 
22,258

Operating income
742

 
(121
)
 
621

 
2,614

 
(33
)
 
2,581

Income before income taxes
513

 
(121
)
 
392

 
3,020

 
(33
)
 
2,987

Income tax expense
(5,377
)
 
21

 
(5,356
)
 
(555
)
 
12

 
(543
)
Net (loss) income
(4,864
)
 
(100
)
 
(4,964
)
 
2,465

 
(21
)
 
2,444

Net (loss) income attributable to Qualcomm
(4,864
)
 
(100
)
 
(4,964
)
 
2,466

 
(21
)
 
2,445

Basic (loss) earnings per share
(3.32
)
 
(0.07
)
 
(3.39
)
 
1.67

 
(0.01
)
 
1.66

Diluted (loss) earnings per share
(3.32
)
 
(0.07
)
 
(3.39
)
 
1.65

 
(0.01
)
 
1.64

 
Three Months Ended September 30, 2018
 
Three Months Ended June 24, 2018
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Licensing revenues
$
1,153

 
$
(25
)
 
$
1,128

 
$
1,489

 
$
(22
)
 
$
1,467

Total revenues
5,803

 
(25
)
 
5,778

 
5,599

 
(22
)
 
5,577

Operating (loss) income
(654
)
 
(25
)
 
(679
)
 
925

 
(22
)
 
903

(Loss) income before income taxes
(775
)
 
(25
)
 
(800
)
 
956

 
(22
)
 
934

Income tax benefit
282

 
5

 
287

 
263

 
5

 
268

Net (loss) income
(493
)
 
(20
)
 
(513
)
 
1,219

 
(17
)
 
1,202

Basic (loss) earnings per share
(0.35
)
 
(0.01
)
 
(0.36
)
 
0.82

 
(0.01
)
 
0.81

Diluted (loss) earnings per share
(0.35
)
 
(0.01
)
 
(0.36
)
 
0.82

 
(0.01
)
 
0.81

 
Three Months Ended March 25, 2018
 
Three Months Ended December 24, 2017
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Licensing revenues
$
1,325

 
$
(41
)
 
$
1,284

 
$
1,364

 
$
(33
)
 
$
1,331

Total revenues
5,261

 
(41
)
 
5,220

 
6,068

 
(33
)
 
6,035

Operating income (loss)
441

 
(41
)
 
400

 
29

 
(33
)
 
(4
)
Income (loss) before income taxes
358

 
(41
)
 
317

 
(27
)
 
(33
)
 
(60
)
Income tax benefit (expense)
5

 
8

 
13

 
(5,926
)
 
3

 
(5,923
)
Net income (loss)
363

 
(33
)
 
330

 
(5,953
)
 
(30
)
 
(5,983
)
Basic earnings (loss) per share
0.25

 
(0.03
)
 
0.22

 
(4.03
)
 
(0.02
)
 
(4.05
)
Diluted earnings (loss) per share
0.24

 
(0.02
)
 
0.22

 
(4.03
)
 
(0.02
)
 
(4.05
)
 
Three Months Ended September 24, 2017
 
Three Months Ended June 25, 2017
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Licensing revenues
$
1,207

 
$
(17
)
 
$
1,190

 
$
1,250

 
$
(15
)
 
$
1,235

Total revenues
5,905

 
(17
)
 
5,888

 
5,371

 
(15
)
 
5,356

Operating income
333

 
(17
)
 
316

 
773

 
(15
)
 
758

Income before income taxes
434

 
(17
)
 
417

 
858

 
(15
)
 
843

Income tax (expense) benefit
(266
)
 
6

 
(260
)
 
7

 
5

 
12

Net income
168

 
(11
)
 
157

 
865

 
(10
)
 
855

Net income attributable to Qualcomm
168

 
(11
)
 
157

 
866

 
(10
)
 
856

Basic earnings per share
0.11

 

 
0.11

 
0.59

 
(0.01
)
 
0.58

Diluted earnings per share
0.11

 

 
0.11

 
0.58

 
(0.01
)
 
0.57

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).
 
Year Ended
 
September 30, 2018
 
September 24, 2017
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Net (loss) income
$
(4,864
)
 
$
(100
)
 
$
(4,964
)
 
$
2,465

 
$
(21
)
 
$
2,444

Total comprehensive (loss) income
(4,983
)
 
(100
)
 
(5,083
)
 
2,421

 
(21
)
 
2,400

Comprehensive (loss) income attributable to Qualcomm
(4,983
)
 
(100
)
 
(5,083
)
 
2,422

 
(21
)
 
2,401

 
Three Months Ended June 24, 2018
 
Three Months Ended March 25, 2018
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Net income
$
1,219

 
$
(17
)
 
$
1,202

 
$
363

 
$
(33
)
 
$
330

Total comprehensive income
997

 
(17
)
 
980

 
523

 
(33
)
 
490

 
Three Months Ended December 24, 2017
 
Three Months Ended June 25, 2017
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Net (loss) income
$
(5,953
)
 
$
(30
)
 
$
(5,983
)
 
$
865

 
$
(10
)
 
$
855

Total comprehensive (loss) income
(5,951
)
 
(30
)
 
(5,981
)
 
925

 
(10
)
 
915

Comprehensive (loss) income attributable to Qualcomm
(5,951
)
 
(30
)
 
(5,981
)
 
926

 
(10
)
 
916

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.
 
Year Ended
 
September 30, 2018
 
September 24, 2017
 
As reported
 
Adjustment
 
As revised
 
As reported
 
Adjustment
 
As revised
Operating Activities:
 
 


 
 
 
 
 


 
 
Net (loss) income
$
(4,864
)
 
$
(100
)
 
$
(4,964
)
 
$
2,465

 
$
(21
)
 
$
2,444

Income tax provision in excess of (less than) income tax payments
4,502

 
(21
)
 
4,481

 
(400
)
 
(12
)
 
(412
)
Payroll, benefits and other liabilities
687

 
121

 
808

 
2,103

 
33

 
2,136

Net cash provided by operating activities
3,895

 

 
3,895

 
5,001

 

 
5,001

 
Three Months Ended December 24, 2017
 
As reported
 
Reclassification adjustment (1)
 
Revision adjustment
 
As revised
Operating Activities:
 
 
 
 
 
 
 
Net loss
$
(5,953
)
 
$

 
$
(30
)
 
$
(5,983
)
Income tax provision in excess of (less than) income tax payments
5,697

 

 
(3
)
 
5,694

Other items, net
57

 
(82
)
 

 
(25
)
Other assets
(56
)
 
(6
)
 

 
(62
)
Payroll, benefits and other liabilities
1,000

 
88

 
33

 
1,121

Net cash provided by operating activities
1,762

 

 

 
1,762

(1) Certain previously reported amounts have been reclassified to conform to the current year presentation.