Quarterly report pursuant to Section 13 or 15(d)

Composition of Certain Financial Statement Items (Tables)

v3.23.1
Composition of Certain Financial Statement Items (Tables)
 6 Months Ended
Mar. 26, 2023
Condensed Financial Information Disclosure [Abstract]  
Inventories
Inventories (in millions)
March 26,
2023		 September 25,
2022
Raw materials $ 219  $ 221 
Work-in-process 4,248  3,329 
Finished goods 2,391  2,791 
$ 6,858  $ 6,341 
QCT Revenues Disaggregated
QCT revenue streams were as follows (in millions):
Three Months Ended Six Months Ended
March 26,
2023		 March 27,
2022		 March 26,
2023		 March 27,
2022
Handsets (1) $ 6,105  $ 7,349  $ 11,860  $ 14,338 
Automotive (2) 447  371  903  659 
IoT (3) 1,390  1,828  3,071  3,398 
Total QCT revenues $ 7,942  $ 9,548  $ 15,834  $ 18,395 
(1) Includes revenues from products sold for use in mobile handsets.
(2) Includes revenues from products sold for use in automobiles, including connectivity, digital cockpit and advanced driver assistance systems (ADAS) and automated driving (AD).
(3) Primarily includes products sold for use in the following industries and applications: consumer (including computing, voice and music and extended reality (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 generally include certain QCT sales-based royalty revenues related to system software, certain amounts related to QCT customer incentives and 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 were as follows (in millions):
Three Months Ended Six Months Ended
March 26,
2023		 March 27,
2022		 March 26,
2023		 March 27,
2022
Revenues recognized from previously satisfied performance obligations $ 170  $ 185  $ 337  $ 367 
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 26,
2023		 March 27,
2022		 March 26,
2023		 March 27,
2022
Customer/licensee (x) 27  % 19  % 31  % 22  %
Customer/licensee (y) 25  19  19  19 
Customer/licensee (z) * 10  * *
*Less than 10%
Investment and Other Income, Net
Investment and Other (Expense) Income, Net (in millions)
Three Months Ended Six Months Ended
March 26,
2023		 March 27,
2022		 March 26,
2023		 March 27,
2022
Interest and dividend income $ 59  $ 20  $ 114  $ 37 
Net gains (losses) on marketable securities 9  (240) 20  (223)
Net (losses) gains on other investments —  (21) —  73 
Net gains (losses) on deferred compensation plan assets 21  (43) 47  (30)
Impairment losses on other investments (87) (20) (101) (21)
Other (18) 6  (20) 6 
$ (16) $ (298) $ 60  $ (158)