CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | ||
In Millions | 6 Months Ended
Mar. 28, 2010 | 12 Months Ended
Sep. 27, 2009 |
Current assets: | ||
Cash and cash equivalents | $2,553 | $2,717 |
Marketable securities | 8,603 | 8,352 |
Accounts receivable, net | 680 | 700 |
Inventories | 402 | 453 |
Deferred tax assets | 204 | 149 |
Other current assets | 210 | 199 |
Total current assets | 12,652 | 12,570 |
Marketable securities | 7,057 | 6,673 |
Deferred tax assets | 1,376 | 843 |
Property, plant and equipment, net | 2,374 | 2,387 |
Goodwill | 1,483 | 1,492 |
Other intangible assets, net | 3,093 | 3,065 |
Other assets | 462 | 415 |
Total assets | 28,497 | 27,445 |
Current liabilities: | ||
Trade accounts payable | 545 | 636 |
Payroll and other benefits related liabilities | 368 | 480 |
Unearned revenues | 592 | 441 |
Income taxes payable | 764 | 29 |
Other current liabilities | 1,061 | 1,227 |
Total current liabilities | 3,330 | 2,813 |
Unearned revenues | 3,687 | 3,464 |
Other liabilities | 760 | 852 |
Total liabilities | 7,777 | 7,129 |
Commitments and contingencies (Note 8) | ||
Stockholders' equity: | ||
Preferred stock, $0.0001 par value; issuable in series; 8 shares authorized; none outstanding at March 28, 2010 and September 27, 2009 | 0 | 0 |
Common stock, $0.0001 par value; 6,000 shares authorized; 1,640 and 1,669 shares issued and outstanding at March 28, 2010 and September 27, 2009, respectively | 0 | 0 |
Paid-in capital | 7,613 | 8,493 |
Retained earnings | 12,287 | 11,235 |
Accumulated other comprehensive income | 820 | 588 |
Total stockholders' equity | 20,720 | 20,316 |
Total liabilities and stockholders' equity | $28,497 | $27,445 |
PARENTHETICAL DISCLOSURES TO TH
PARENTHETICAL DISCLOSURES TO THE CONDENSED CONSOLIDATED BALANCE SHEET (USD $) | ||
Share data in Millions | Mar. 28, 2010
| Sep. 27, 2009
|
Stockholders' equity: | ||
Preferred stock, par value | 0.0001 | 0.0001 |
Preferred stock, shares authorized | 8 | 8 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | 0.0001 | 0.0001 |
Common stock, shares authorized | 6,000 | 6,000 |
Common stock, shares issued | 1,640 | 1,669 |
Common stock, shares outstanding | 1,640 | 1,669 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (USD $) | ||||
In Millions, except Per Share data | 3 Months Ended
Mar. 28, 2010 | 3 Months Ended
Mar. 29, 2009 | 6 Months Ended
Mar. 28, 2010 | 6 Months Ended
Mar. 29, 2009 |
Revenues: | ||||
Equipment and services | $1,595 | $1,412 | $3,257 | $2,835 |
Licensing and royalty fees | 1,068 | 1,043 | 2,076 | 2,137 |
Total revenues | 2,663 | 2,455 | 5,333 | 4,972 |
Operating expenses: | ||||
Cost of equipment and services revenues | 809 | 738 | 1,624 | 1,493 |
Research and development | 648 | 604 | 1,244 | 1,207 |
Selling, general and administrative | 430 | 375 | 810 | 789 |
Litigation settlement, patent license and other related items (Note 8) | 0 | 748 | 0 | 748 |
Total operating expenses | 1,887 | 2,465 | 3,678 | 4,237 |
Operating income (loss) | 776 | (10) | 1,655 | 735 |
Investment income (loss), net (Note 5) | 189 | (91) | 361 | (385) |
Income (loss) before income taxes | 965 | (101) | 2,016 | 350 |
Income tax expense | (191) | (188) | (401) | (298) |
Net income (loss) | $774 | ($289) | $1,615 | $52 |
Basic earnings (loss) per common share | 0.47 | -0.18 | 0.97 | 0.03 |
Diluted earnings (loss) per common share | 0.46 | -0.18 | 0.96 | 0.03 |
Shares used in per share calculations: | ||||
Basic | 1,662 | 1,651 | 1,667 | 1,652 |
Diluted | 1,678 | 1,651 | 1,685 | 1,665 |
Dividends per share announced | 0.17 | 0.16 | 0.34 | 0.32 |
1_CONDENSED CONSOLIDATED STATEM
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | ||
In Millions | 6 Months Ended
Mar. 28, 2010 | 6 Months Ended
Mar. 29, 2009 |
Operating Activities: | ||
Net income | $1,615 | $52 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 329 | 306 |
Revenues related to non-monetary exchanges | (68) | (57) |
Income tax provision (less than) in excess of income tax payments | (6) | 166 |
Non-cash portion of share-based compensation expense | 304 | 285 |
Incremental tax benefit from stock options exercised | (31) | (32) |
Net realized (gains) losses on marketable securities and other investments | (182) | 33 |
Impairment losses on marketable securities and other investments | 73 | 601 |
Other items, net | (4) | (20) |
Changes in assets and liabilities, net of effects of acquisitions: | ||
Accounts receivable, net | 35 | 2,824 |
Inventories | 52 | 113 |
Other assets | (70) | (30) |
Trade accounts payable | (81) | (103) |
Payroll, benefits and other liabilities | (239) | 710 |
Unearned revenues | 305 | (84) |
Net cash provided by operating activities | 2,032 | 4,764 |
Investing Activities: | ||
Capital expenditures | (196) | (468) |
Purchases of available-for-sale securities | (4,480) | (4,296) |
Proceeds from sale of available-for-sale securities | 4,241 | 2,461 |
Cash received for partial settlement of investment receivables | 33 | 317 |
Other investments and acquisitions, net of cash acquired | (28) | (40) |
Change in collateral held under securities lending | 0 | 173 |
Other items, net | 3 | 6 |
Net cash used by investing activities | (427) | (1,847) |
Financing Activities: | ||
Proceeds from issuance of common stock | 484 | 101 |
Incremental tax benefit from stock options exercised | 31 | 32 |
Repurchase and retirement of common stock | (1,715) | (285) |
Dividends paid | (563) | (528) |
Change in obligations under securities lending | 0 | (173) |
Other items, net | (1) | (3) |
Net cash used by financing activities | (1,764) | (856) |
Effect of exchange rate changes on cash | (5) | (9) |
Net (decrease) increase in cash and cash equivalents | (164) | 2,052 |
Cash and cash equivalents at beginning of period | 2,717 | 1,840 |
Cash and cash equivalents at end of period | $2,553 | $3,892 |
Basis of Presentation
Basis of Presentation | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 1 - Basis of Presentation | Note 1 Basis of Presentation Financial Statement Preparation. The accompanying interim condensed consolidated financial statements have been prepared by QUALCOMM Incorporated (the Company or QUALCOMM), without audit, in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair presentation of its consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States. The condensed consolidated balance sheet at September 27, 2009 was derived from the audited financial statements at that date but may not include all disclosures required by accounting principles generally accepted in the United States. The Company operates and reports using a 52-53 week fiscal year ending on the last Sunday in September. The three-month and six-month periods ended March 28, 2010 and March 29, 2009 included 13 weeks and 26 weeks, respectively. In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, which are only normal and recurring, necessary for a fair statement of results of operations, financial position and cash flows. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Companys Annual Report on Form 10-K for the fiscal year ended September 27, 2009. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in the Companys financial statements and the accompanying notes. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation. Revenue Recognition. Beginning in the first quarter of fiscal 2010, the Company elected to early adopt the Financial Accounting Standards Boards (FASB) amended accounting guidance for revenue recognition that (a) removes tangible products containing software components and non-software components that function together to deliver the products essential functionality from the scope of software revenue recognition guidance; and (b) eliminates the use of the residual method for arrangements with multiple deliverables and requires entities to allocate revenue using the relative selling price method. This new guidance applies to applicable transactions originating or materially modified after September 27, 2009. The adoption of this new guidance did not have a material impact on the timing or pattern of revenue recognition. Earnings (Loss) Per Common Share. Basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed by dividing net income by the combination of dilutive com |
Fair Value Measurements
Fair Value Measurements | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 2 - Fair Value Measurements | Note 2 Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price), in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Companys assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of inputs that may be used to measure fair value: Level 1 includes financial instruments for which quoted market prices for identical instruments are available in active markets. Level 2 includes financial instruments for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets with insufficient volume or infrequent transactions (less active markets) or model-driven valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 includes financial instruments for which fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including the Companys own assumptions. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. The following table presents the Companys fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at March 28, 2010 (in millions): Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 1,502 $ 809 $ - $ 2,311 Marketable securities U.S. Treasury securities and government-related securities 5 1,162 - 1,167 Corporate bonds and notes - 5,461 - 5,461 Mortgage- and asset-backed securities - 795 12 807 Auction rate securities - - 176 176 Non-investment-grade debt securities - 2,988 15 3,003 Common and preferred stock 1,142 559 - 1,701 Equity mutual and exchange-traded funds 1,026 - - 1,026 Debt mutual funds - 2,319 - 2,319 Total marketable securities 2,173 13,284 203 15,660 Derivative instruments - 28 - 28 Other investments (1) 133 - - 133 Total assets measured at f |
Marketable Securities
Marketable Securities | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 3 - Marketable Securities | Note 3 Marketable Securities Marketable securities were comprised as follows (in millions): Current Noncurrent March 28, September 27, March, 28 September 27, 2010 2009 2010 2009 Available-for-sale: U.S. Treasury securities and government-related securities $ 1,162 $ 1,407 $ 5 $ - Corporate bonds and notes 4,223 3,988 1,238 1,204 Mortgage- and asset-backed securities 766 821 41 36 Auction rate securities - - 176 174 Non-investment-grade debt securities 28 21 2,975 2,719 Common and preferred stock 105 140 1,596 1,377 Equity mutual and exchange-traded funds - - 1,026 948 Debt mutual funds 2,319 1,975 - 215 $ 8,603 $ 8,352 $ 7,057 $ 6,673 As of March 28, 2010, the contractual maturities of available-for-sale debt securities were as follows (in millions): Years to Maturity No Single Less Than One Year One to Five Years Five to Ten Years Greater Than Ten Years Maturity Date Total $ 2,968 $ 4,208 $ 883 $ 591 $ 4,283 $ 12,933 Securities with no single maturity date included mortgage- and asset-backed securities, auction rate securities, non-investment-grade debt securities and debt mutual funds. The Company recorded realized gains and losses on sales of available-for-sale marketable securities as follows (in millions): Gross Realized Gains Gross Realized Losses Net Realized Gains (Losses) For the three months ended March 28, 2010 $ 86 $ (6 ) $ 80 March 29, 2009 12 (12 ) - For the six months ended March 28, 2010 $ 194 $ (12 ) $ 182 March 29, 2009 32 (65 ) (33 ) Available-for-sale securities were comprised as follows (in millions): Cost Unrealized Gains Unrealized Losses Fair Value March 28, 2010 Equity securities $ 2,327 $ 419 $ (19 ) $ 2,727 Debt securities 12,349 607 (23 ) 12,933 $ 14,676 $ 1,026 $ (42 ) $ 15,660 September 27, 2009 Equity securities $ 2,282 $ 340 $ (157 ) $ 2,465 Debt securities 12,069 530 (39 ) 12,560 $ 14,351 $ 870 $ (196 ) $ 15,025 The following table shows the gross unrealized losses and fair values of the Companys investments in individual securities that have been in a continuous unrealized loss position deemed to be temporary for less than 12 months and for more than 12 months, aggregated by investment category (in millions): March 28, 2010 Less than 12 months More than 12 months Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds and notes $ 549 $ (1 ) $ 38 $ - Mortgage- and asset-backed securities 127 (1 ) 4 - Auction rate securities - - 176 (5 ) Non-investment-grade debt securities 168 (4 ) 147 (11 ) Common and preferred stock 144 (7 ) 43 (3 ) Equity mutual and exchange-traded funds 180 (1 ) 146 (8 ) Debt mutual funds 650 (1 ) 1 - $ 1,818 $ (15 ) $ 555 $ (27 ) September 27, 2009 Less than 12 months Mo |
Composition of Certain Financia
Composition of Certain Financial Statement Items | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 4 - Composition of Certain Financial Statement Items | Note 4 Composition of Certain Financial Statement Items Inventories. March 28, September 27, 2010 2009 (In millions) Raw materials $ 14 $ 15 Work-in-process 169 199 Finished goods 219 239 $ 402 $ 453 Intangible Assets. Gross technology-based intangible assets increased by $135 million during the six months ended March 28, 2010. The increase was primarily due to certain patents assigned to the Company pursuant to a license agreement entered into in the first quarter of fiscal 2010. The estimated fair value of these patents was determined using an income approach based on projected cash flows, on a discounted basis, over the assigned patents estimated useful life of approximately 16 years. The estimated fair value of such patents is being amortized on a straight-line basis over this useful life, beginning from the date the patents were assigned to the Company. Other Current Liabilities. March 28, September 27, 2010 2009 (In millions) Customer-related liabilities, including incentives, rebates and other reserves $ 585 $ 461 Current portion of payable to Broadcom for litigation settlement 170 170 Accrued liability to KFTC (Note 8) - 230 Payable for unsettled securities trades 62 101 Other 244 265 $ 1,061 $ 1,227 |
Inventories | Inventories. March 28, September 27, 2010 2009 (In millions) Raw materials $ 14 $ 15 Work-in-process 169 199 Finished goods 219 239 $ 402 $ 453 |
Intangible Assets | Intangible Assets. Gross technology-based intangible assets increased by $135 million during the six months ended March 28, 2010. The increase was primarily due to certain patents assigned to the Company pursuant to a license agreement entered into in the first quarter of fiscal 2010. The estimated fair value of these patents was determined using an income approach based on projected cash flows, on a discounted basis, over the assigned patents estimated useful life of approximately 16 years. The estimated fair value of such patents is being amortized on a straight-line basis over this useful life, beginning from the date the patents were assigned to the Company. |
Other Current Liabilities | Other Current Liabilities. March 28, September 27, 2010 2009 (In millions) Customer-related liabilities, including incentives, rebates and other reserves $ 585 $ 461 Current portion of payable to Broadcom for litigation settlement 170 170 Accrued liability to KFTC (Note 8) - 230 Payable for unsettled securities trades 62 101 Other 244 265 $ 1,061 $ 1,227 |
Investment Income
Investment Income (Loss), Net | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 5 - Investment Income (Loss), Net | Note 5 Investment Income (Loss), Net Three Months Ended Six Months Ended March 28, March 29, March 28, March 29, 2010 2009 2010 2009 (In millions) (In millions) Interest and dividend income $ 129 $ 121 $ 274 $ 256 Interest expense (7 ) (4 ) (16 ) (7 ) Net realized gains (losses) on marketable securities 80 - 182 (33 ) Impairment losses on marketable securities (15 ) (204 ) (67 ) (592 ) Impairment losses on other investments (1 ) (5 ) (6 ) (9 ) Gains (losses) on derivative instruments 3 13 (1 ) 13 Equity in losses of investees - (12 ) (5 ) (13 ) $ 189 $ (91 ) $ 361 $ (385 ) |
Income Taxes
Income Taxes | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 6 - Income Taxes | Note 6 Income Taxes The Company currently estimates its annual effective income tax rate to be approximately 21% for fiscal 2010, compared to the 23% effective income tax rate in fiscal 2009. The United Statesfederal research and development credit expired on December 31, 2009. Therefore, the Companys annual effective tax rate for fiscal 2010 only reflects federal research and development credits generated through December 31, 2009. The annual effective tax rate also includes tax expense of approximately $130 million that arises because deferred revenue related to the Companys 2008 license and settlement agreements with Nokia is taxable in fiscal 2010 but the resulting deferred tax asset will reverse in future years when the Companys state tax rate will be lower as a result of California tax legislation enacted in 2009. The estimated annual effective tax rate for fiscal 2010 of 21% is less than the United States federal statutory rate primarily due to benefits of approximately 22% related to foreign earnings taxed at less than the United States federal rate, partially offset by state taxes of approximately 5% and tax expense of approximately 4% related to the deferred revenue that is taxable in fiscal 2010, but for which the resulting deferred tax asset will reverse in future years when the Companys state tax rate will be lower. The prior fiscal year rate was lower than the United States federal statutory rate primarily due to benefits related to foreign earnings taxed at less than the United States federal rate, adjustments to prior year estimates of uncertain tax positions as a result of tax audits during the year and the generation of research and development credits, partially offset by an increase in the valuation allowance related to capital losses, the revaluation of deferred items and state taxes. |
Stockholders' Equity
Stockholders' Equity | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 7 - Stockholders' Equity | Note 7 Stockholders Equity Changes in stockholders equity for the six months ended March 28, 2010 were as follows (in millions): Balance at September 27,2009 $ 20,316 Net income 1,615 Other comprehensive income 232 Repurchase of common stock (1,715 ) Net proceeds from the issuance of common stock 487 Share-based compensation 306 Tax benefit from exercise of stock options 32 Dividends (563 ) Other 10 Balance at March 28, 2010 $ 20,720 Stock Repurchase Program. During the six months ended March 28, 2010 and March 29, 2009, the Company repurchased and retired 43,871,000 and 8,920,000 shares of the Companys common stock, respectively, for $1.7 billion and $284 million, respectively. On March 1, 2010, the Company announced that it had been authorized to repurchase up to $3.0 billion of the Companys common stock, and the entire authorized amount remained available at March 28, 2010. The stock repurchase program has no expiration date. Dividends. On March 1, 2010, the Company announced an increase in its quarterly cash dividend per share of common stock from $0.17 to $0.19, which is effective for quarterly dividends payable after March 28, 2010. On April 8, 2010, the Company announced a cash dividend of $0.19 per share on the Companys common stock, payable on June 25, 2010 to stockholders of record as of May 28, 2010. Cash dividends announced in the six months ended March 28, 2010 and March 29, 2009 were as follows (in millions, except per share data): 2010 2009 Per Share Total Per Share Total First quarter $ 0.17 $ 284 $ 0.16 $ 264 Second quarter 0.17 279 0.16 264 Total $ 0.34 $ 563 $ 0.32 $ 528 |
Commitments and Contingencies
Commitments and Contingencies | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 8 - Commitments and Contingencies | Note 8 Commitments and Contingencies Litigation. Tessera, Inc. v. QUALCOMM Incorporated: On April 17, 2007, Tessera filed a patent infringement lawsuit in the United States District Court for the Eastern Division of Texas and a complaint with the United States International Trade Commission (ITC) pursuant to Section 337 of the Tariff Act of 1930 against the Company and other companies, alleging infringement of two patents relating to semiconductor packaging structures and seeking monetary damages and injunctive and other relief. The District Court action is stayed pending resolution of the ITC proceeding, including appeals. The U.S. Patent and Trademark Offices (USPTO) Central Reexamination Unit has issued office actions rejecting all of the asserted patent claims on the grounds that they are invalid in view of certain prior art and has made these rejections final. Tessera has appealed the rejections to the Board of Appeals and Interferences. On December 1, 2008, the Administrative Law Judge (ALJ) ruled that the patents are valid but not infringed. On May 20, 2009, however, the ITC reversed the ALJs determination that the patents were not infringed, and it issued the following remedial orders: (1) a limited exclusion order that bans the Company and the other named respondents from importing into the United States the accused chip packages (except to the extent those products are licensed) and (2) a cease and desist order that prohibits the Company from engaging in certain domestic activities respecting those products. The President declined to review the decision. The Company and other respondents have appealed. The ITC and the appeals court declined to stay the ITCs decision pending appeal. The Company has shifted supply of accused chips for the United States market to a licensed supplier, Amkor. The appellate hearing is scheduled for May 7, 2010. A licensed source of supply permits the Company to continue to supply the United States market without interruption. The subject patents expire on September 24, 2010, at which time the ITC orders will cease to be operative. Korea Fair Trade Commission Complaint: Two U.S. companies (Texas Instruments and Broadcom) and two South Korean companies (Nextreaming and Thin Multimedia) filed complaints with the Korea Fair Trade Commission (KFTC) alleging that certain of the Companys business practices violate South Korean antitrust regulations. As a result of its agreement with the Company, Broadcom withdrew its complaint to the KFTC in May 2009. After a hearing, the KFTC announced its ruling via press release in July 2009. On January 4, 2010, the KFTC issued its written decision, explaining its ruling that the Company violated South Korean law by offering certain discounts and rebates for purchases of its CDMA chips and for including in certain agreements language requiring the continued payment of royalties after all licensed patents have expired. The KFTC levied a fine of 273.2 billion Korean won, which was accrued in fiscal 2009 (Note 4) and paid in the second quarter of fiscal 2010, and ordered the Company to cease the practices at issue. In February 2010, the Company filed a complaint against t |
Segment Information
Segment Information | |
6 Months Ended
Mar. 28, 2010 | |
Notes to Financial Statements [Abstract] | |
Note 9 - Segment Information | Note 9 Segment Information The Company is organized on the basis of products and services. The Company aggregates four of its divisions into the Qualcomm Wireless Internet segment. Reportable segments are as follows: Qualcomm CDMA Technologies (QCT) develops and supplies integrated circuits and system software for wireless voice and data communications, multimedia functions and global positioning system products based on its CDMA technology and other technologies; Qualcomm Technology Licensing (QTL) grants licenses to use portions of the Companys intellectual property portfolio, which includes certain patent rights essential to and/or useful in the manufacture and sale of certain wireless products, including, without limitation, products implementing cdmaOne, CDMA2000, WCDMA, CDMA TDD (including TD-SCDMA), GSM/GPRS/EDGE and/or OFDMA standards and their derivatives, and collects license fees and royalties in partial consideration for such licenses; Qualcomm Wireless Internet (QWI) comprised of: o Qualcomm Internet Services (QIS) provides content enablement services for the wireless industry and push-to-talk and other products and services for wireless network operators; o Qualcomm Government Technologies (QGOV) provides development, hardware and analytical expertise to United States government agencies involving wireless communications technologies; o Qualcomm Enterprise Services (QES) provides satellite- and terrestrial-based two-way data messaging, position reporting, wireless application services and managed data services to transportation and logistics companies and other enterprise companies; and o Firethorn builds and manages software applications that enable financial institutions and wireless operators to offer mobile commerce services. Qualcomm Strategic Initiatives (QSI) manages the Companys strategic investment activities, including FLO TV Incorporated (FLO TV), the Companys wholly-owned wireless multimedia operator subsidiary. QSI makes strategic investments in companies that the Company believes will open new markets for CDMA technology, support the design and introduction of new CDMA-based products or possess unique capabilities or technology. The Company evaluates the performance of its segments based on earnings (loss) before income taxes (EBT). EBT includes the allocation of certain corporate expenses to the segments, including depreciation and amortization expense related to unallocated corporate assets. Certain income and charges are not allocated to segments in the Companys management reports because they are not considered in evaluating the segments operating performance. Unallocated income and charges include certain investment income (loss), certain share-based compensation and certain research and development expenses and marketing expenses that were not deemed to be directly related to the businesses of the segments. The table below presents revenues and EBT for reportable segments (in millions): QCT QTL QWI QSI ReconcilingItems Total For the three months ended: March 28, 2010 Revenues $ 1,537 $ 974 $ 152 $ 2 $ (2 ) $ 2,663 EBT |
Document Information
Document Information | |
6 Months Ended
Mar. 28, 2010 | |
Document Information [Text Block] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | 2010-03-28 |
Entity Information
Entity Information | ||
6 Months Ended
Mar. 28, 2010 | Apr. 19, 2010
| |
Entity [Text Block] | ||
Entity Registrant Name | QUALCOMM INC/DE | |
Entity Central Index Key | 0000804328 | |
Current Fiscal Year End Date | --09-26 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1,640,372,747 | |
Document Fiscal Year Focus | 2,010 | |
Document Fiscal Period Focus | Q2 |