2016 Q4 Form 10-Q Financial Statement

#000123445217000028 Filed on January 25, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4
Revenue $5.999B $5.775B
YoY Change 3.88% -18.65%
Cost Of Revenue $2.443B $2.534B
YoY Change -3.59% -16.84%
Gross Profit $3.556B $3.241B
YoY Change 9.72% -20.01%
Gross Profit Margin 59.28% 56.12%
Selling, General & Admin $591.0M $578.0M
YoY Change 2.25% -0.86%
% of Gross Profit 16.62% 17.83%
Research & Development $1.311B $1.352B
YoY Change -3.03% 0.0%
% of Gross Profit 36.87% 41.72%
Depreciation & Amortization $329.0M $364.0M
YoY Change -9.62% 26.83%
% of Gross Profit 9.25% 11.23%
Operating Expenses $1.902B $1.930B
YoY Change -1.45% -0.26%
Operating Profit $778.0M $1.685B
YoY Change -53.83% -18.36%
Interest Expense $90.00M $74.00M
YoY Change 21.62% 7300.0%
% of Operating Profit 11.57% 4.39%
Other Income/Expense, Net
YoY Change
Pretax Income $870.0M $1.710B
YoY Change -49.12% -25.59%
Income Tax $189.0M $214.0M
% Of Pretax Income 21.72% 12.51%
Net Earnings $682.0M $1.498B
YoY Change -54.47% -24.04%
Net Earnings / Revenue 11.37% 25.94%
Basic Earnings Per Share $0.46 $1.00
Diluted Earnings Per Share $0.46 $0.99
COMMON SHARES
Basic Shares Outstanding 1.478B shares 1.502B shares
Diluted Shares Outstanding 1.495B shares 1.517B shares

Balance Sheet

Concept 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.81B $16.53B
YoY Change -34.58% -7.08%
Cash & Equivalents $6.885B $6.913B
Short-Term Investments $3.927B $9.615B
Other Short-Term Assets $972.0M $664.0M
YoY Change 46.39% 25.76%
Inventory $1.910B $1.216B
Prepaid Expenses
Receivables $2.085B $1.302B
Other Receivables $0.00 $21.00M
Total Short-Term Assets $15.78B $20.34B
YoY Change -22.42% -10.65%
LONG-TERM ASSETS
Property, Plant & Equipment $2.270B $2.484B
YoY Change -8.62% -1.86%
Goodwill $5.686B $5.669B
YoY Change 0.3% 28.46%
Intangibles $3.338B $4.068B
YoY Change -17.94% 62.92%
Long-Term Investments $18.97B $14.06B
YoY Change 34.91% 1.8%
Other Assets $4.008B $1.991B
YoY Change 101.31% 80.84%
Total Long-Term Assets $36.59B $29.89B
YoY Change 22.4% 16.37%
TOTAL ASSETS
Total Short-Term Assets $15.78B $20.34B
Total Long-Term Assets $36.59B $29.89B
Total Assets $52.37B $50.23B
YoY Change 4.25% 3.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.648B $1.359B
YoY Change 21.27% -45.25%
Accrued Expenses $865.0M $895.0M
YoY Change -3.35% 13.87%
Deferred Revenue
YoY Change
Short-Term Debt $1.749B $1.000B
YoY Change 74.9%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.994B $6.503B
YoY Change 22.93% 1.53%
LONG-TERM LIABILITIES
Long-Term Debt $9.935B $9.950B
YoY Change -0.15%
Other Long-Term Liabilities $953.0M $913.0M
YoY Change 4.38% 98.48%
Total Long-Term Liabilities $953.0M $913.0M
YoY Change 4.38% 98.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.994B $6.503B
Total Long-Term Liabilities $953.0M $913.0M
Total Liabilities $21.16B $20.00B
YoY Change 5.82% 107.69%
SHAREHOLDERS EQUITY
Retained Earnings $30.82B $30.17B
YoY Change 2.13% -5.89%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.22B $30.24B
YoY Change
Total Liabilities & Shareholders Equity $52.37B $50.23B
YoY Change 4.25% 3.68%

Cashflow Statement

Concept 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income $682.0M $1.498B
YoY Change -54.47% -24.04%
Depreciation, Depletion And Amortization $329.0M $364.0M
YoY Change -9.62% 26.83%
Cash From Operating Activities $1.379B $2.739B
YoY Change -49.65% 15.86%
INVESTING ACTIVITIES
Capital Expenditures -$129.0M -$128.0M
YoY Change 0.78% -49.41%
Acquisitions
YoY Change
Other Investing Activities -$43.00M -$82.00M
YoY Change -47.56% 272.73%
Cash From Investing Activities $681.0M -$716.0M
YoY Change -195.11% -58.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $313.0M $1.951B
YoY Change -83.96% 26.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.104B -$2.665B
YoY Change -58.57% 20.97%
NET CHANGE
Cash From Operating Activities 1.379B $2.739B
Cash From Investing Activities 681.0M -$716.0M
Cash From Financing Activities -1.104B -$2.665B
Net Change In Cash 956.0M -$642.0M
YoY Change -248.91% -59.24%
FREE CASH FLOW
Cash From Operating Activities $1.379B $2.739B
Capital Expenditures -$129.0M -$128.0M
Free Cash Flow $1.508B $2.867B
YoY Change -47.4% 9.55%

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The Company is organized on the basis of products and services. The Company conducts business primarily through two reportable segments, QCT (Qualcomm CDMA Technologies) and QTL (Qualcomm Technology Licensing), and its QSI (Qualcomm Strategic Initiatives) reportable segment makes strategic investments and includes revenues and related costs associated with development contracts with an equity method investee
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CY2016Q4 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest Availableforsale Securities
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CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2015Q4 us-gaap Revenues
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CY2015Q4 us-gaap Selling General And Administrative Expense
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CY2015Q4 us-gaap Share Based Compensation
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CY2015Q1 us-gaap Stock Repurchase Program Authorized Amount1
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2500000000 USD
CY2015Q4 us-gaap Stock Repurchased And Retired During Period Shares
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CY2016Q4 us-gaap Stock Repurchased And Retired During Period Shares
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CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
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CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
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CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2016Q4 us-gaap Fiscal Period
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates and reports using a 52-53 week fiscal year ending on the last Sunday in September. Each of the </font><font style="font-family:inherit;font-size:10pt;">three-month</font><font style="font-family:inherit;font-size:10pt;"> periods ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;25, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;27, 2015</font><font style="font-family:inherit;font-size:10pt;"> included </font><font style="font-family:inherit;font-size:10pt;">13 weeks</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2016Q4 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in the Company&#8217;s condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. </font></div></div>

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