Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v2.4.0.6
Stockholders' Equity
9 Months Ended
Jun. 26, 2011
Notes to Financial Statements [Abstract]  
Note 5 - Stockholders' Equity
Note 5 — Stockholders’ Equity
Changes in stockholders’ equity for the three months ended December 25, 2011 were as follows (in millions):
 
Qualcomm Stockholders’ Equity
 
Noncontrolling Interests
 
Total Stockholders’ Equity
Balance at September 25, 2011
$
26,951

 
$
21

 
$
26,972

Net income (loss) (1)
1,401

 
(6
)
 
1,395

Other comprehensive income (loss)
142

 
(2
)
 
140

Common stock issued under employee benefit plans and the related tax benefits, net of shares withheld for tax
203

 

 
203

Share-based compensation
251

 

 
251

Dividends
(368
)
 

 
(368
)
Stock repurchases
(99
)
 

 
(99
)
Other

 
3

 
3

Balance at December 25, 2011
$
28,481

 
$
16

 
$
28,497


(1) Loss from discontinued operations, net of income taxes, (Note 8) was attributable to Qualcomm.
    
Stock Repurchase Program. During the three months ended December 25, 2011, the Company repurchased and retired 2,046,000 shares of the Company’s common stock for $99 million, before commissions. The Company did not repurchase any shares during the three months ended December 26, 2010. At December 25, 2011, approximately $948 million remained authorized for repurchase under the Company’s stock repurchase program, net of put options outstanding.
In connection with the Company’s stock repurchase program, the Company sold three put options on its own stock during fiscal 2011. At December 25, 2011, the Company had three outstanding put options enabling holders to sell 11,800,000 shares of the Company’s common stock to the Company for approximately $511 million (net of the $75 million in put option premiums received). The put option liability of $35 million at December 25, 2011 was recorded in other current liabilities. During the three months ended December 25, 2011, the Company recognized gains of $45 million in net investment income due to a decrease in the fair value of the put options. No put options were outstanding during the three months ended December 26, 2010.
Dividends. Cash dividends announced in the three months ended December 25, 2011 and December 26, 2010 were $0.215 and $0.190 per share, respectively. During the three months ended December 25, 2011 and December 26, 2010, dividends charged to retained earnings were $368 million and $314 million, respectively. On January 10, 2012, the Company announced a cash dividend of $0.215 per share on the Company’s common stock, payable on March 23, 2012 to stockholders of record as of March 2, 2012.