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Qualcomm Incorporated | |||||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
(In millions) | |||||||||||||||
(Unaudited) | |||||||||||||||
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Three Months Ended |
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Twelve Months Ended | ||||||||||||
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September 29, 2013 |
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September 30, 2012 |
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September 29, 2013 |
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September 30, 2012 | ||||||||
Operating Activities: |
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|
|
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|
|
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Net income |
$ |
1,501 |
|
|
$ |
1,263 |
|
|
$ |
6,845 |
|
|
$ |
6,059 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
| ||||||||
Depreciation and amortization expense |
273 |
|
|
257 |
|
|
1,017 |
|
|
897 |
| ||||
Gain on sale of wireless spectrum |
— |
|
|
— |
|
|
— |
|
|
(1,179) |
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Goodwill and long-lived asset impairment charges |
1 |
|
|
59 |
|
|
192 |
|
|
84 |
| ||||
Revenues related to non-monetary exchanges |
(30) |
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|
(30) |
|
|
(123) |
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|
(122) |
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Income tax provision in excess of income tax payments |
48 |
|
|
156 |
|
|
268 |
|
|
395 |
| ||||
Non-cash portion of share-based compensation expense |
274 |
|
|
283 |
|
|
1,105 |
|
|
1,035 |
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Incremental tax benefit from share-based compensation |
(53) |
|
|
(41) |
|
|
(231) |
|
|
(168) |
| ||||
Net realized gains on marketable securities and other investments |
(129) |
|
|
(155) |
|
|
(369) |
|
|
(369) |
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Net impairment losses on marketable securities and other investments |
36 |
|
|
19 |
|
|
85 |
|
|
83 |
| ||||
Other items, net |
82 |
|
|
10 |
|
|
104 |
|
|
(52) |
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Changes in assets and liabilities, net of effects of acquisitions: |
|
|
|
|
|
|
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Accounts receivable, net |
(235) |
|
|
(207) |
|
|
(680) |
|
|
(456) |
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Inventories |
399 |
|
|
(199) |
|
|
(300) |
|
|
(252) |
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Other assets |
(98) |
|
|
(209) |
|
|
(209) |
|
|
(240) |
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Trade accounts payable |
(291) |
|
|
174 |
|
|
307 |
|
|
371 |
| ||||
Payroll, benefits and other liabilities |
700 |
|
|
71 |
|
|
752 |
|
|
(341) |
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Unearned revenues |
45 |
|
|
(42) |
|
|
15 |
|
|
253 |
| ||||
Net cash provided by operating activities |
2,523 |
|
|
1,409 |
|
|
8,778 |
|
|
5,998 |
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Investing Activities: |
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|
|
|
|
|
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Capital expenditures |
(200) |
|
|
(250) |
|
|
(1,048) |
|
|
(1,284) |
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Purchases of available-for-sale securities |
(1,839) |
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|
(3,707) |
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(13,951) |
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(15,511) |
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Proceeds from sales and maturities of available-for-sale securities |
6,157 |
|
|
4,084 |
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|
13,494 |
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|
9,858 |
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Purchases of trading securities |
(654) |
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|
(1,729) |
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|
(3,312) |
|
|
(4,009) |
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Proceeds from sales and maturities of trading securities |
1,002 |
|
|
1,763 |
|
|
3,367 |
|
|
3,060 |
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Proceeds from sale of wireless spectrum |
— |
|
|
— |
|
|
— |
|
|
1,925 |
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Acquisitions and other investments, net of cash acquired |
(13) |
|
|
(156) |
|
|
(192) |
|
|
(833) |
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Other items, net |
(4) |
|
|
(7) |
|
|
64 |
|
|
(83) |
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Net cash provided (used) by investing activities |
4,449 |
|
|
(2) |
|
|
(1,578) |
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(6,877) |
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Financing Activities: |
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|
|
|
|
|
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Borrowing under loans and debentures |
— |
|
|
— |
|
|
534 |
|
|
710 |
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Repayment of loans and debentures |
— |
|
|
— |
|
|
(439) |
|
|
(591) |
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Proceeds from issuance of common stock |
561 |
|
|
355 |
|
|
1,525 |
|
|
1,714 |
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Incremental tax benefit from share-based compensation |
53 |
|
|
41 |
|
|
231 |
|
|
168 |
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Repurchases and retirements of common stock |
(3,321) |
|
|
(841) |
|
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(4,610) |
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(1,313) |
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Dividends paid |
(592) |
|
|
(426) |
|
|
(2,055) |
|
|
(1,583) |
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Other items, net |
(66) |
|
|
(146) |
|
|
(31) |
|
|
138 |
| ||||
Net cash used by financing activities |
(3,365) |
|
|
(1,017) |
|
|
(4,845) |
|
|
(757) |
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Changes in cash and cash equivalents held for sale |
— |
|
|
— |
|
|
(15) |
|
|
— |
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Effect of exchange rate changes on cash |
2 |
|
|
5 |
|
|
(5) |
|
|
(19) |
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Net increase (decrease) in cash and cash equivalents |
3,609 |
|
|
395 |
|
|
2,335 |
|
|
(1,655) |
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Cash and cash equivalents at beginning of year |
2,533 |
|
|
3,412 |
|
|
3,807 |
|
|
5,462 |
| ||||
Cash and cash equivalents at end of year |
$ |
6,142 |
|
|
$ |
3,807 |
|
|
$ |
6,142 |
|
|
$ |
3,807 |
|
Certain prior period amounts have been reclassified to conform to the current period presentation.