Stockholders' Equity (Notes)
|9 Months Ended|
Jun. 25, 2017
|Stockholders' Equity Attributable to Parent [Abstract]|
Changes in stockholders’ equity in the nine months ended June 25, 2017 were as follows (in millions):
Accumulated Other Comprehensive Income. Changes in the components of accumulated other comprehensive income, net of income taxes, in Qualcomm stockholders’ equity in the nine months ended June 25, 2017 were as follows (in millions):
In the nine months ended June 25, 2017, the Company entered into U.S. Treasury forward starting interest rate swaps in anticipation of its May 2017 debt offering (Note 5), which were designated as cash flow hedges. This resulted in the deferral of losses of $51 million in accumulated other comprehensive income, which will be recognized ratably over the 10- and 30-year terms of the underlying notes associated with the swaps. Reclassifications from accumulated other comprehensive income related to available-for-sale securities of $71 million and $118 million in the three and nine months ended June 25, 2017, respectively, and $22 million and $5 million in the three and nine months ended June 26, 2016, respectively, were recorded in investment and other income, net (Note 2). Reclassifications from accumulated other comprehensive income related to foreign currency translation losses were $15 million and $21 million in the three and nine months ended June 26, 2016 and were recorded in selling, general and administrative expenses and other operating 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. In the nine months ended June 25, 2017 and June 26, 2016, the Company repurchased and retired 16,669,000 and 70,168,000 shares for $1.0 billion and $3.7 billion, respectively, before commissions. At June 25, 2017, $2.0 billion remained authorized for repurchase under the Company’s stock repurchase program.
Dividends. On July 13, 2017, the Company announced a cash dividend of $0.57 per share on the Company’s common stock, payable on September 20, 2017 to stockholders of record as of the close of business on August 30, 2017. In the nine months ended June 25, 2017 and June 26, 2016, dividends charged to retained earnings were as follows (in millions, except per share data):
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://www.xbrl.org/2003/role/presentationRef