2021 Q3 Form 10-Q Financial Statement

#000172894921000066 Filed on July 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $9.336B $8.060B $4.893B
YoY Change 11.86% 64.73% -49.22%
Cost Of Revenue $3.937B $3.404B $2.080B
YoY Change 42.34% 63.65% -1.61%
Gross Profit $5.399B $4.656B $2.813B
YoY Change -3.24% 65.52% -62.6%
Gross Profit Margin 57.83% 57.77% 57.49%
Selling, General & Admin $618.0M $597.0M $511.0M
YoY Change 12.16% 16.83% -6.58%
% of Gross Profit 11.45% 12.82% 18.17%
Research & Development $1.879B $1.864B $1.520B
YoY Change 18.77% 22.63% 10.14%
% of Gross Profit 34.8% 40.03% 54.03%
Depreciation & Amortization $425.0M $406.0M $363.0M
YoY Change 25.37% 11.85% 2.83%
% of Gross Profit 7.87% 8.72% 12.9%
Operating Expenses $2.497B $2.461B $2.031B
YoY Change 17.07% 21.17% 5.4%
Operating Profit $2.902B $2.195B $782.0M
YoY Change -15.93% 180.69% -85.29%
Interest Expense $392.0M $138.0M $143.0M
YoY Change -535.56% -3.5% -10.63%
% of Operating Profit 13.51% 6.29% 18.29%
Other Income/Expense, Net
YoY Change
Pretax Income $3.285B $2.257B $868.0M
YoY Change -0.64% 160.02% -84.22%
Income Tax $487.0M $230.0M $23.00M
% Of Pretax Income 14.82% 10.19% 2.65%
Net Earnings $2.798B $2.027B $845.0M
YoY Change -5.47% 139.88% -60.68%
Net Earnings / Revenue 29.97% 25.15% 17.27%
Basic Earnings Per Share $1.80 $0.75
Diluted Earnings Per Share $2.448M $1.77 $0.74
COMMON SHARES
Basic Shares Outstanding 1.128B shares 1.129B shares 1.127B shares
Diluted Shares Outstanding 1.145B shares 1.139B shares

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.73B $12.91B $10.60B
YoY Change 8.31% 21.76% -26.17%
Cash & Equivalents $7.116B $7.399B $6.120B
Short-Term Investments $4.616B $5.508B $4.480B
Other Short-Term Assets $854.0M $701.0M $768.0M
YoY Change 21.31% -8.72% 12.61%
Inventory $3.228B $3.133B $2.343B
Prepaid Expenses
Receivables $2.214B $2.952B $928.0M
Other Receivables $11.00M $0.00 $12.00M
Total Short-Term Assets $20.08B $19.69B $15.56B
YoY Change 8.4% 26.58% -18.99%
LONG-TERM ASSETS
Property, Plant & Equipment $4.559B $4.424B $3.487B
YoY Change 22.85% 26.87% 14.82%
Goodwill $7.246B $7.229B $6.299B
YoY Change 14.6% 14.76% -0.14%
Intangibles $1.458B $1.542B $1.749B
YoY Change -11.8% -11.84% -25.57%
Long-Term Investments $214.0M $213.0M
YoY Change 32.92% -35.45%
Other Assets $6.311B $4.431B $3.890B
YoY Change 56.33% 13.91% 88.65%
Total Long-Term Assets $21.17B $19.08B $16.77B
YoY Change 23.95% 13.75% 12.33%
TOTAL ASSETS
Total Short-Term Assets $20.08B $19.69B $15.56B
Total Long-Term Assets $21.17B $19.08B $16.77B
Total Assets $41.24B $38.77B $32.33B
YoY Change 15.86% 19.92% -5.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.750B $2.709B $2.046B
YoY Change 22.33% 32.4% 28.92%
Accrued Expenses $1.531B $1.503B $1.148B
YoY Change 28.98% 30.92% -53.03%
Deferred Revenue
YoY Change
Short-Term Debt $500.0M $500.0M $500.0M
YoY Change 0.0% 0.0% -49.9%
Long-Term Debt Due $1.544B $1.545B $0.00
YoY Change -100.0%
Total Short-Term Liabilities $11.95B $11.46B $7.914B
YoY Change 37.81% 44.81% -27.08%
LONG-TERM LIABILITIES
Long-Term Debt $13.70B $13.70B $15.43B
YoY Change -10.02% -11.22% 14.89%
Other Long-Term Liabilities $5.638B $5.437B $5.683B
YoY Change 0.34% -4.33% 453.9%
Total Long-Term Liabilities $13.70B $19.13B $15.43B
YoY Change -10.02% 24.03% 6.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.95B $11.46B $7.914B
Total Long-Term Liabilities $13.70B $19.13B $15.43B
Total Liabilities $31.29B $30.59B $29.02B
YoY Change 6.01% 5.41% 1.23%
SHAREHOLDERS EQUITY
Retained Earnings $9.822B $7.993B $3.081B
YoY Change 85.88% 159.43% -34.26%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.950B $8.177B $3.306B
YoY Change
Total Liabilities & Shareholders Equity $41.24B $38.77B $32.33B
YoY Change 15.86% 19.92% -5.29%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $2.798B $2.027B $845.0M
YoY Change -5.47% 139.88% -60.68%
Depreciation, Depletion And Amortization $425.0M $406.0M $363.0M
YoY Change 25.37% 11.85% 2.83%
Cash From Operating Activities $1.077B $3.373B $1.872B
YoY Change -38.14% 80.18% -61.87%
INVESTING ACTIVITIES
Capital Expenditures -$430.0M -$506.0M -$418.0M
YoY Change 23.56% 21.05% 68.55%
Acquisitions
YoY Change
Other Investing Activities $480.0M $134.0M -$2.738B
YoY Change 4700.0% -104.89% -6945.0%
Cash From Investing Activities $50.00M -$372.0M -$3.156B
YoY Change -114.79% -88.21% 1417.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.402B -1.608B -1.003B
YoY Change 67.7% 60.32% 9.62%
NET CHANGE
Cash From Operating Activities 1.077B 3.373B 1.872B
Cash From Investing Activities 50.00M -372.0M -3.156B
Cash From Financing Activities -1.402B -1.608B -1.003B
Net Change In Cash -275.0M 1.393B -2.287B
YoY Change -148.5% -160.91% -160.41%
FREE CASH FLOW
Cash From Operating Activities $1.077B $3.373B $1.872B
Capital Expenditures -$430.0M -$506.0M -$418.0M
Free Cash Flow $1.507B $3.879B $2.290B
YoY Change -27.86% 69.39% -55.59%

Facts In Submission

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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Use Of Estimates
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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 our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.
us-gaap Common Stock Dividends Per Share Declared
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1.89
us-gaap Fiscal Period
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We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Each of the three and nine months ended June 27, 2021 and June 28, 2020 included 13 weeks and 39 weeks, respectively.
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
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231000000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
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CY2021Q2 us-gaap Revenue Remaining Performance Obligation
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us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
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86000000 USD
us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
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183000000 USD
CY2021Q2 us-gaap Gain Loss On Sale Of Other Investments
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97000000 USD
CY2020Q2 us-gaap Gain Loss On Sale Of Other Investments
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48000000 USD
us-gaap Gain Loss On Sale Of Other Investments
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307000000 USD
us-gaap Gain Loss On Sale Of Other Investments
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84000000 USD
CY2021Q2 qcom Net Losses Gains On Deferred Compensation Plan Assets
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38000000 USD
CY2020Q2 qcom Net Losses Gains On Deferred Compensation Plan Assets
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57000000 USD
qcom Net Losses Gains On Deferred Compensation Plan Assets
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115000000 USD
qcom Net Losses Gains On Deferred Compensation Plan Assets
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16000000 USD
CY2021Q2 us-gaap Impairment Of Investments
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CY2020Q2 us-gaap Impairment Of Investments
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us-gaap Impairment Of Investments
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us-gaap Impairment Of Investments
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us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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CY2021Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2021Q2 us-gaap Investment Income Nonoperating
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us-gaap Investment Income Nonoperating
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us-gaap Investment Income Nonoperating
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CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q2 us-gaap Revenues
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CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q2 us-gaap Unrecognized Tax Benefits
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2000000000.0 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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13000000 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q2 us-gaap Loss Contingency Accrual At Carrying Value
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CY2021Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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CY2021Q2 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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2413000000 USD
CY2021Q2 us-gaap Long Term Debt Fair Value
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CY2020Q3 us-gaap Long Term Debt Fair Value
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17500000000 USD
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CY2020Q3 us-gaap Available For Sale Securities Current
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4125000000 USD
CY2021Q2 us-gaap Available For Sale Securities Noncurrent
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CY2020Q3 us-gaap Available For Sale Securities Noncurrent
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CY2021Q2 us-gaap Marketable Securities Current
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CY2021Q2 us-gaap Marketable Securities Noncurrent
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CY2020Q3 us-gaap Marketable Securities Noncurrent
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CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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1938000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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3107000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
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160000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
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5205000000 USD

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