Quarterly report pursuant to Section 13 or 15(d)

Composition of Certain Financial Statement Items (Tables)

v3.24.0.1
Composition of Certain Financial Statement Items (Tables)
3 Months Ended
Dec. 24, 2023
Condensed Financial Information Disclosure [Abstract]  
Inventories
Inventories (in millions)
December 24,
2023
September 24,
2023
Raw materials $ 178  $ 176 
Work-in-process 3,941  4,096 
Finished goods 2,128  2,150 
$ 6,247  $ 6,422 
QCT Revenues Disaggregated
QCT revenue streams were as follows (in millions):
Three Months Ended
December 24,
2023
December 25,
2022
Handsets (1) $ 6,687  $ 5,754 
Automotive (2) 598  456 
IoT (internet of things) (3)
1,138  1,682 
Total QCT revenues $ 8,423  $ 7,892 
(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, 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):
Three Months Ended
December 24,
2023
December 25,
2022
Revenues recognized from previously satisfied performance obligations $ 176  $ 199 
Customer Concentrations - Revenues Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
Three Months Ended
December 24,
2023
December 25,
2022
Customer/licensee (x)
25  % 34  %
Customer/licensee (y)
18  14 
Customer/licensee (z) 14  *
Investment and Other Income (Expense), Net
Investment and Other Income (Expense), Net (in millions)
Three Months Ended
December 24,
2023
December 25,
2022
Interest and dividend income $ 149  $ 55 
Net gains on marketable securities
11  11 
Net gains on other investments — 
Net gains on deferred compensation plan assets
66  26 
Impairment losses on other investments (12) (14)
Other (7) (2)
$ 212  $ 76