Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v2.4.1.9
Stockholders' Equity
 6 Months Ended
Mar. 29, 2015
Notes to Financial Statements [Abstract]  
Stockholders' Equity
Note 5 — Stockholders’ Equity
Changes in stockholders’ equity for the six months ended March 29, 2015 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)
3,025

 
(2
)
 
3,023

  Other comprehensive loss
(162
)
 
—

 
(162
)
Common stock issued under employee benefit plans and related tax benefits
476

 
—

 
476

Share-based compensation
548

 
—

 
548

Tax withholding related to vesting of restricted stock units
(193
)
 
—

 
(193
)
Dividends
(1,412
)
 
—

 
(1,412
)
Stock repurchases
(3,611
)
 
—

 
(3,611
)
Other
(1
)
 
—

 
(1
)
Balance at March 29, 2015
$
37,839

 
$
(5
)
 
$
37,834


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 29, 2015 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
 
Total Accumulated Other Comprehensive Income
Balance at September 28, 2014
$
(113
)
 
$
24

 
$
723

 
$
634

Other comprehensive loss before reclassifications
(31
)
 
(7
)
 
(6
)
 
(44
)
Reclassifications from accumulated other comprehensive income
—

 
4

 
(122
)
 
(118
)
Other comprehensive loss
(31
)
 
(3
)
 
(128
)
 
(162
)
Balance at March 29, 2015
$
(144
)
 
$
21

 
$
595

 
$
472


Reclassifications from accumulated other comprehensive income related to available-for-sale securities and foreign currency translation adjustment of $47 million and $118 million for the three and six months ended March 29, 2015, respectively, and $71 million and $124 million for the three and six months ended March 30, 2014, respectively, were recorded in investment income, net (Note 3). Reclassifications from accumulated other comprehensive income related to derivative instruments 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. On March 9, 2015, the Company announced a stock repurchase program authorizing it to repurchase up to $15 billion of the Company’s common stock. The stock repurchase program has no expiration date. The $15 billion stock repurchase program replaced a $7.8 billion stock repurchase program announced on March 4, 2014, of which $2.1 billion remained authorized for repurchase. During the six months ended March 29, 2015 and March 30, 2014, the Company repurchased and retired 50,699,000 and 27,586,000 shares of common stock, respectively, for $3.6 billion and $2.0 billion, respectively, before commissions. At March 29, 2015, approximately $14.5 billion remained authorized for repurchase under the Company’s stock repurchase program. Since March 29, 2015, the Company repurchased and retired 5,061,000 shares of common stock for $345 million.
Dividends. On March 9, 2015, the Company announced a 14% increase in its quarterly cash dividend per share of common stock from $0.42 to $0.48, which is effective for dividends payable after March 25, 2015. On April 8, 2015, the Company announced a cash dividend of $0.48 per share on the Company’s common stock, payable on June 24, 2015 to stockholders of record as of the close of business on June 3, 2015. During the six months ended March 29, 2015 and March 30, 2014, dividends charged to retained earnings were as follows (in millions, except per share data):
 
2015
 
2014
 
Per Share
 
Total
 
Per Share
 
Total
First quarter
$
0.42

 
$
710

 
$
0.35

 
$
599

Second quarter
0.42

 
702

 
0.35

 
599

 
$
0.84

 
$
1,412

 
$
0.70

 
$
1,198