Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v2.4.1.9
Stockholders' Equity
3 Months Ended
Dec. 28, 2014
Notes to Financial Statements [Abstract]  
Stockholders' Equity
Note 5 — Stockholders’ Equity
Changes in stockholders’ equity for the three months ended December 28, 2014 were as follows (in millions):
 
Qualcomm Stockholders’ Equity
 
Noncontrolling Interests
 
Total Stockholders’ Equity
Balance at September 28, 2014
$
39,169

 
$
(3
)
 
$
39,166

Net income (loss)
1,972

 
(1
)
 
1,971

  Other comprehensive loss
(206
)
 

 
(206
)
Common stock issued under employee benefit plans and related tax benefits
162

 

 
162

Share-based compensation
286

 

 
286

Tax withholding related to vesting of restricted stock units
(185
)
 

 
(185
)
Dividends
(710
)
 

 
(710
)
Stock repurchases
(1,664
)
 

 
(1,664
)
Other
(1
)
 

 
(1
)
Balance at December 28, 2014
$
38,823

 
$
(4
)
 
$
38,819










Accumulated Other Comprehensive Income. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity during the three months ended December 28, 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 28, 2014
$
(113
)
 
$
24

 
$
723

 
$

 
$
634

Other comprehensive loss before reclassifications
(21
)
 
(8
)
 
(104
)
 
(2
)
 
(135
)
Reclassifications from accumulated other comprehensive income

(a)
6

(a)
(77
)
(a)

(b)
(71
)
Other comprehensive loss
(21
)
 
(2
)
 
(181
)
 
(2
)
 
(206
)
Balance at December 28, 2014
$
(134
)
 
$
22

 
$
542

 
$
(2
)
 
$
428


(a)
Reclassifications from accumulated other comprehensive income of $71 million and $53 million for the three months ended December 28, 2014 and December 29, 2013, respectively, were recorded in investment income, net (Note 3).
(b)
Reclassifications from accumulated other comprehensive income of $6 million for the three months ended December 29, 2013 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 three months ended December 28, 2014 and December 29, 2013, the Company repurchased and retired 22,940,000 and 14,196,000 shares of common stock, respectively, for $1.7 billion and $1.0 billion, respectively, before commissions. On March 4, 2014, the Company announced a stock repurchase program authorizing it to repurchase up to $7.8 billion of the Company’s common stock. The stock repurchase program has no expiration date. At December 28, 2014, approximately $3.6 billion remained authorized for repurchase under the Company’s stock repurchase program. Since December 28, 2014, the Company repurchased and retired 6,841,000 shares of common stock for $502 million.
Dividends. Cash dividends announced in the three months ended December 28, 2014 and December 29, 2013 were $0.42 and $0.35 per share, respectively. During the three months ended December 28, 2014 and December 29, 2013, dividends charged to retained earnings were $710 million and $599 million, respectively. On January 14, 2015, the Company announced a cash dividend of $0.42 per share on the Company’s common stock, payable on March 25, 2015 to stockholders of record as of the close of business on March 4, 2015.