Quarterly report pursuant to Section 13 or 15(d)

Composition of Certain Financial Statement Items (Tables)

v3.22.0.1
Composition of Certain Financial Statement Items (Tables)
3 Months Ended
Dec. 26, 2021
Condensed Financial Information Disclosure [Abstract]  
Inventories
Inventories (in millions)
December 26,
2021
September 26,
2021
Raw materials $ 243  $ 267 
Work-in-process 2,125  1,475 
Finished goods 1,493  1,486 
$ 3,861  $ 3,228 
QCT Revenues Disaggregated QCT revenue streams were as follows (in millions):
Three Months Ended
December 26,
2021
December 27,
2020
Handsets (1) $ 5,983  $ 4,216 
RFFE (2) 1,132  1,061 
Automotive (3) 256  212 
IoT (internet of things) (4) 1,476  1,044 
Total QCT revenues $ 8,847  $ 6,533 
(1) Includes revenues from products sold for use in mobile handsets, excluding RFFE (radio frequency front-end) components.
(2) Includes all revenues from sales of 4G, 5G sub-6 and 5G millimeter wave RFFE products (a substantial portion of which are sold for use in mobile handsets) and excludes radio frequency transceiver components.
(3) Includes revenues from products sold for use in automobiles, including telematics, connectivity and digital cockpit.
(4) Primarily includes products sold for use in the following industries and applications: consumer (including computing, voice and music and XR), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, transportation and logistics and utilities).
Revenue recognized from performance obligations satisfied in previous periods
Revenues recognized from performance obligations satisfied (or partially satisfied) in previous periods were as follows (in millions):
Three Months Ended
December 26,
2021 (1)
December 27,
2020 (2)
Revenues recognized from previously satisfied performance obligations $ 242  $ 110 
(1) Primarily related to certain QCT sales-based royalty revenues related to system software, QTL royalty revenues recognized related to devices sold in prior periods (including adjustments to prior period royalty estimates, which includes the impact of the reporting by our licensees of actual royalties due) and certain QCT customer incentives.
(2) Primarily related to QTL royalty revenues recognized related to devices sold in prior periods (including adjustments to prior period royalty estimates, which includes the impact of the reporting by our licensees of actual royalties due) and certain QCT customer incentives.
Customer Concentrations - Revenues Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
Three Months Ended
December 26,
2021
December 27,
2020
Customer/licensee (x) 26  % 34  %
Customer/licensee (y) 19  13 
Customer/licensee (z) * 10 
Investment and Other Income, Net
Investment and Other Income, Net (in millions)
Three Months Ended
December 26,
2021
December 27,
2020
Interest and dividend income $ 17  $ 21 
Net gains on marketable securities 17  118 
Net gains on other investments 93  34 
Net gains on deferred compensation plan assets 13  54 
Impairment losses on other investments (1) (1)
Net (losses) gains on derivative investments (13)
Equity in net earnings (losses) of investees (2)
Net gains (losses) on foreign currency transactions (14)
$ 140  $ 219