Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v2.4.0.8
Stockholders' Equity
 6 Months Ended
Mar. 30, 2014
Notes to Financial Statements [Abstract]  
Note 5 - Stockholders' Equity
Note 5 — Stockholders’ Equity
Changes in stockholders’ equity for the six months ended March 30, 2014 were as follows (in millions):
 
Qualcomm Stockholders’ Equity
 
Noncontrolling Interests
 
Total Stockholders’ Equity
Balance at September 29, 2013
$
36,088

 
$
(1
)
 
$
36,087

Net income (loss) (1)
3,835

 
(2
)
 
3,833

Other comprehensive income
57

 
—

 
57

Common stock issued under employee benefit plans and related tax benefits, net of shares withheld for taxes
925

 
—

 
925

Share-based compensation
552

 
—

 
552

Dividends
(1,198
)
 
—

 
(1,198
)
Stock repurchases
(2,004
)
 
—

 
(2,004
)
Other
(1
)
 
2

 
1

Balance at March 30, 2014
$
38,254

 
$
(1
)
 
$
38,253


(1)
Discontinued operations, net of income taxes (Note 8) was attributable to Qualcomm.
Accumulated Other Comprehensive Income. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity during the six months ended March 30, 2014 were as follows (in millions):
 
Foreign Currency Translation Adjustment
 
Noncredit Other-than-Temporary Impairment Losses and Subsequent Changes in Fair Value for Certain Available-for-Sale Debt Securities
 
Net Unrealized Gain (Loss) on Other Available-for-Sale Securities
 
Net Unrealized Gain (Loss) on Derivative Instruments
 
Total Accumulated Other Comprehensive Income
Balance at September 29, 2013
$
(115
)
 
$
25

 
$
825

 
$
18

 
$
753

Other comprehensive income before reclassifications
6

 
1

 
179

 
8

 
194

Reclassifications from accumulated other comprehensive income
1

(a)
—

 
(125
)
(a)
(13
)
(b)
(137
)
Other comprehensive income
7

 
1

 
54

 
(5
)
 
57

Balance at March 30, 2014
$
(108
)
 
$
26

 
$
879

 
$
13

 
$
810


(a)
Reclassifications from accumulated other comprehensive income of $71 million and $124 million for the three and six months ended March 30, 2014, respectively, were recorded in investment income, net (Note 3).
(b)
Reclassifications from accumulated other comprehensive income of $7 million and $13 million for the three and six months ended March 30, 2014, respectively, were recorded in revenues, cost of equipment and services revenues, research and development expenses and selling, general and administrative expenses.
Stock Repurchase Program. During the six months ended March 30, 2014 and March 31, 2013, the Company repurchased and retired 27,586,000 and 4,295,000 shares, respectively, of the Company’s common stock for $2.0 billion and $250 million, respectively, before commissions. On March 4, 2014, the Company announced that it had been authorized to repurchase up to $7.8 billion of the Company’s common stock. The stock repurchase program has no expiration date. The $7.8 billion stock repurchase program replaced a $5.0 billion stock repurchase program announced on September 11, 2013, of which $2.8 billion remained authorized for repurchase. At March 30, 2014, $7.8 billion remained available for repurchase under the Company’s stock repurchase program.
Dividends. On March 4, 2014, the Company announced a 20% increase in its quarterly cash dividend per share of common stock from $0.35 to $0.42, which is effective for dividends payable after March 26, 2014. On April 8, 2014, the Company announced a cash dividend of $0.42 per share on the Company’s common stock, payable on June 25, 2014 to stockholders of record as of the close of business on June 4, 2014. During the six months ended March 30, 2014 and March 31, 2013, dividends charged to retained earnings were as follows (in millions, except per share data):
 
2014
 
2013
 
Per Share
 
Total
 
Per Share
 
Total
First quarter
$
0.35

 
$
599

 
$
0.25

 
$
435

Second quarter
0.35

 
599

 
0.25

 
439

 
$
0.70

 
$
1,198

 
$
0.50

 
$
874