Composition of Certain Financial Statement Items (Tables)
|
12 Months Ended |
Sep. 24, 2023 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| Accounts Receivable |
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Accounts Receivable (in millions) |
|
|
|
|
September 24,
2023 |
|
September 25,
2022 |
| Trade, net of allowances for doubtful accounts |
$ |
1,923 |
|
|
$ |
4,175 |
|
|
|
|
|
| Unbilled |
1,223 |
|
|
1,435 |
|
| Other |
37 |
|
|
33 |
|
|
$ |
3,183 |
|
|
$ |
5,643 |
|
|
| Inventories |
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|
|
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Inventories (in millions) |
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|
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|
September 24,
2023 |
|
September 25,
2022 |
| Raw materials |
$ |
176 |
|
|
$ |
221 |
|
| Work-in-process |
4,096 |
|
|
3,329 |
|
| Finished goods |
2,150 |
|
|
2,791 |
|
|
$ |
6,422 |
|
|
$ |
6,341 |
|
|
| Property, Plant and Equipment |
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|
|
|
|
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| Property, Plant and Equipment (in millions) |
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|
|
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September 24,
2023 |
|
September 25,
2022 |
| Land |
$ |
169 |
|
|
$ |
170 |
|
| Buildings and improvements |
1,849 |
|
|
1,767 |
|
| Computer equipment and software |
1,773 |
|
|
1,680 |
|
| Machinery and equipment |
8,078 |
|
|
7,349 |
|
| Furniture and office equipment |
130 |
|
|
105 |
|
| Leasehold improvements |
485 |
|
|
369 |
|
| Construction in progress |
226 |
|
|
330 |
|
|
12,710 |
|
|
11,770 |
|
| Less accumulated depreciation and amortization |
(7,668) |
|
|
(6,602) |
|
|
$ |
5,042 |
|
|
$ |
5,168 |
|
|
| Goodwill |
The following table presents the goodwill allocated to our segments, as described in Note 8, as well as the changes in the carrying amounts of goodwill during fiscal 2023 and 2022 (in millions):
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QCT |
|
QTL |
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|
Total |
Balance at September 26, 2021 |
|
$ |
6,523 |
|
|
$ |
723 |
|
|
|
|
$ |
7,246 |
|
| Acquisitions |
|
3,375 |
|
|
12 |
|
|
|
|
3,387 |
|
|
|
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
|
(121) |
|
|
(4) |
|
|
|
|
(125) |
|
| Balance at September 25, 2022 (1) |
|
9,777 |
|
|
731 |
|
|
|
|
10,508 |
|
| Acquisitions |
|
76 |
|
|
— |
|
|
|
|
76 |
|
|
|
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
|
56 |
|
|
2 |
|
|
|
|
58 |
|
| Balance at September 24, 2023 (1) |
|
$ |
9,909 |
|
|
$ |
733 |
|
|
|
|
$ |
10,642 |
|
(1) Cumulative goodwill impairments were $812 million at both September 24, 2023 and September 25, 2022.
|
| Intangible Assets |
The components of other intangible assets, net were as follows (in millions):
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September 24, 2023 |
|
September 25, 2022 |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Weighted-average amortization period
(years) |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Weighted-average amortization period
(years) |
| Technology-based |
$ |
4,292 |
|
|
$ |
(2,912) |
|
|
12 |
|
$ |
5,517 |
|
|
$ |
(3,669) |
|
|
12 |
| Other |
70 |
|
|
(42) |
|
|
11 |
|
90 |
|
|
(56) |
|
|
10 |
|
$ |
4,362 |
|
|
$ |
(2,954) |
|
|
11 |
|
$ |
5,607 |
|
|
$ |
(3,725) |
|
|
10 |
|
| Equity Method and Non-marketable Equity Investments |
The carrying values of our equity method and non-marketable equity investments are recorded in other assets and were as follows (in millions):
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|
September 24,
2023 |
|
September 25,
2022 |
| Equity method investments |
$ |
164 |
|
|
$ |
189 |
|
| Non-marketable equity investments |
1,072 |
|
|
1,105 |
|
|
$ |
1,236 |
|
|
$ |
1,294 |
|
|
| Other Current Liabilities |
|
|
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Other Current Liabilities (in millions) |
|
|
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|
September 24,
2023 |
|
September 25,
2022 |
| Customer incentives and other customer-related liabilities |
$ |
1,821 |
|
|
$ |
1,879 |
|
|
|
|
|
| Income taxes payable |
1,717 |
|
|
634 |
|
|
|
|
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| Other |
953 |
|
|
1,176 |
|
|
$ |
4,491 |
|
|
$ |
3,689 |
|
|
| QCT Revenues Disaggregated |
QCT revenue streams were as follows (in millions):
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|
2023 |
|
2022 |
|
2021 |
| Handsets (1) |
|
|
|
|
|
|
|
|
$ |
22,570 |
|
|
$ |
28,815 |
|
|
$ |
20,475 |
|
|
|
|
|
|
|
|
|
|
|
|
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| Automotive (2) |
|
|
|
|
|
|
|
|
1,872 |
|
|
1,509 |
|
|
1,110 |
|
| IoT (internet of things) (3) |
|
|
|
|
|
|
|
|
5,940 |
|
|
7,353 |
|
|
5,434 |
|
| Total QCT revenues |
|
|
|
|
|
|
|
|
$ |
30,382 |
|
|
$ |
37,677 |
|
|
$ |
27,019 |
|
(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 ADAS/AD.
(3) 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, tracking 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):
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|
2023 |
|
2022 |
|
2021 |
Revenues recognized from previously satisfied performance obligations |
$ |
598 |
|
|
$ |
788 |
|
|
$ |
283 |
|
|
| Concentrations |
Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
|
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|
September 24,
2023 |
|
September 25,
2022 |
|
September 26,
2021 |
| Customer/licensee (w) |
27 |
% |
|
21 |
% |
|
23 |
% |
| Customer/licensee (x) |
21 |
|
|
21 |
|
|
14 |
|
| Customer/licensee (y) |
* |
|
* |
|
13 |
|
|
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* Less than 10%
|
| Investment and Other Income, net |
|
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Investment and Other Income (Expense), Net (in millions) |
|
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|
2023 |
|
2022 |
|
2021 |
| Interest and dividend income |
|
|
|
|
|
|
|
$ |
313 |
|
|
$ |
91 |
|
|
$ |
83 |
|
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|
Net gains (losses) on marketable securities |
|
|
|
|
|
|
|
75 |
|
|
(363) |
|
|
427 |
|
| Net gains on other investments |
|
|
|
|
|
|
|
21 |
|
|
113 |
|
|
470 |
|
Net gains (losses) on deferred compensation plan assets |
|
|
|
|
|
|
|
86 |
|
|
(141) |
|
|
130 |
|
| Impairment losses on other investments |
|
|
|
|
|
|
|
(132) |
|
|
(47) |
|
|
(33) |
|
|
|
|
|
|
|
|
|
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| Other |
|
|
|
|
|
|
|
(14) |
|
|
(25) |
|
|
(33) |
|
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|
|
|
|
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|
$ |
349 |
|
|
$ |
(372) |
|
|
$ |
1,044 |
|
|