Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v2.4.0.6
Stockholders' Equity
6 Months Ended
Mar. 25, 2012
Notes to Financial Statements [Abstract]  
Note 5 - Stockholders' Equity
Note 5 — Stockholders’ Equity
Changes in stockholders’ equity for the six months ended March 25, 2012 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)
3,631

 
(37
)
 
3,594

Other comprehensive income (loss)
456

 
(1
)
 
455

Common stock issued under employee benefit plans and the related tax benefits, net of shares withheld for tax
1,189

 

 
1,189

Share-based compensation
499

 

 
499

Dividends
(745
)
 

 
(745
)
Stock repurchases
(99
)
 

 
(99
)
Other

 
5

 
5

Balance at March 25, 2012
$
31,882

 
$
(12
)
 
$
31,870


(1) Discontinued operations, net of income taxes, (Note 8) was attributable to Qualcomm.
Stock Repurchase Program. During the six months ended March 25, 2012, 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 six months ended March 27, 2011. On March 6, 2012, the Company announced that it had been authorized to repurchase up to $4.0 billion of the Company’s common stock. The stock repurchase program has no expiration date. The $4.0 billion stock repurchase program replaced a $3.0 billion stock repurchase program, of which $948 million remained authorized for repurchase, net of put options outstanding. At March 25, 2012, approximately $3.5 billion remained available 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 had three outstanding put options at March 25, 2012, which gave holders the right 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 fair values of the put options of $3 million at March 25, 2012 were recorded in other current liabilities. During the three months and six months ended March 25, 2012, the Company recognized gains of $32 million and $77 million, respectively, 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 and six months ended March 27, 2011.
Dividends. On March 6, 2012, the Company announced an increase in its quarterly cash dividend per share of common stock from $0.215 to $0.25, which is effective for dividends payable after March 23, 2012. On April 3, 2012, the Company announced a cash dividend of $0.25 per share on the Company’s common stock, payable on June 20, 2012 to stockholders of record as of June 1, 2012. During the six months ended March 25, 2012 and March 27, 2011, dividends charged to retained earnings were as follows (in millions, except per share data):
 
2012
 
2011
 
Per Share
 
Total
 
Per Share
 
Total
First Quarter
$
0.215

 
$
368

 
$
0.190

 
$
314

Second Quarter
0.215

 
377

 
0.190

 
319

 
$
0.430

 
$
745

 
$
0.380

 
$
633