Quarterly report pursuant to Section 13 or 15(d)

Composition of Certain Financial Statement Items (Tables)

v3.22.1
Composition of Certain Financial Statement Items (Tables)
6 Months Ended
Mar. 27, 2022
Condensed Financial Information Disclosure [Abstract]  
Inventories
Inventories (in millions)
March 27,
2022
September 26,
2021
Raw materials $ 253  $ 267 
Work-in-process 2,517  1,475 
Finished goods 1,785  1,486 
$ 4,555  $ 3,228 
Short-term Debt
Short-term Debt (in millions)
March 27,
2022
September 26,
2021
Commercial paper $ 500  $ 500 
Current portion of long-term debt 2,985  1,544 
$ 3,485  $ 2,044 
QCT Revenues Disaggregated QCT revenue streams were as follows (in millions):
Three Months Ended Six Months Ended
March 27,
2022
March 28,
2021
March 27,
2022
March 28,
2021
Handsets (1) $ 6,325  $ 4,065  $ 12,307  $ 8,281 
RFFE (2) 1,160  903  2,292  1,964 
Automotive (3) 339  240  595  452 
IoT (internet of things) (4) 1,724  1,073  3,201  2,117 
Total QCT revenues $ 9,548  $ 6,281  $ 18,395  $ 12,814 
(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 Six Months Ended
March 27,
2022 (1)
March 28,
2021 (2)
March 27,
2022 (1)
March 28,
2021 (2)
Revenues recognized from previously satisfied performance obligations $ 185  $ 122  $ 367  $ 176 
(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 Six Months Ended
March 27,
2022
March 28,
2021
March 27,
2022
March 28,
2021
Customer/licensee (w) 19  % 16  % 22  % 25  %
Customer/licensee (x) 19  16  19  14 
Customer/licensee (y) 10  15  * 13 
Customer/licensee (z) * 13  * 11 
Investment and Other Income, Net
Investment and Other (Expense) Income, Net (in millions)
Three Months Ended Six Months Ended
March 27,
2022
March 28,
2021
March 27,
2022
March 28,
2021
Interest and dividend income $ 20  $ 22  $ 37  $ 42 
Net (losses) gains on marketable securities (240) (85) (223) 33 
Net (losses) gains on other investments (21) 176  73  209 
Net (losses) gains on deferred compensation plan assets (43) 23  (30) 77 
Impairment losses on other investments (20) (15) (21) (16)
Net losses on derivative instruments (5) (17) (19) (7)
Equity in net earnings of investees 10  12  17  11 
Net gains (losses) on foreign currency transactions (12) (26)
$ (298) $ 104  $ (158) $ 323