XML 40 R22.htm IDEA: XBRL DOCUMENT v3.24.3
Composition of Certain Financial Statement Items (Tables)
 12 Months Ended
Sep. 29, 2024
Balance Sheet Related Disclosures [Abstract]  
Accounts Receivable
Accounts Receivable (in millions)
September 29,
2024		September 24,
2023
Trade, net of allowances for doubtful accounts $2,347 $1,923 
Unbilled1,546 1,223 
Other36 37 
$3,929 $3,183 
Inventories
Inventories (in millions)
September 29,
2024		September 24,
2023
Raw materials$340 $176 
Work-in-process3,497 4,096 
Finished goods2,586 2,150 
$6,423 $6,422 
Property, Plant and Equipment
Property, Plant and Equipment (in millions)
September 29,
2024		September 24,
2023
Land$169 $169 
Buildings and improvements1,888 1,849 
Computer equipment and software2,022 1,773 
Machinery and equipment8,647 8,078 
Furniture and office equipment139 130 
Leasehold improvements550 485 
Construction in progress126 226 
13,541 12,710 
Less accumulated depreciation and amortization(8,876)(7,668)
$4,665 $5,042 
Goodwill The following table presents the goodwill allocated to our segments, as described in Note 8, as well as the changes in the carrying amounts of goodwill during fiscal 2024 and 2023 (in millions):
QCTQTLTotal
Balance at September 25, 2022
$9,777 $731 $10,508 
Acquisitions76 — 76 
Foreign currency translation adjustments56 2 58 
Balance at September 24, 2023 (1)
9,909 733 10,642 
Acquisitions126 — 126 
Foreign currency translation adjustments30 1 31 
Balance at September 29, 2024 (1)
$10,065 $734 $10,799 
(1) Cumulative goodwill impairments were $812 million at both September 29, 2024 and September 24, 2023.
Intangible Assets
The components of other intangible assets, net were as follows (in millions):
September 29, 2024September 24, 2023
Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)		Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)
Technology-based$2,498 $(1,275)9$4,292 $(2,912)12
Other69 (48)1170 (42)11
$2,567 $(1,323)9$4,362 $(2,954)11
Equity Method and Non-marketable Equity Investments The carrying values of our equity method and non-marketable equity investments are recorded in other assets and were as follows (in millions):
September 29,
2024		September 24,
2023
Equity method investments$154 $164 
Non-marketable equity investments (1)
1,187 1,072 
$1,341 $1,236 
(1) Cumulative unrealized gains were $370 million and $241 million at September 29, 2024 and September 24, 2023, respectively. Cumulative unrealized losses, including impairments, were $385 million and $335 million at September 29, 2024 and September 24, 2023, respectively.
Other Current Liabilities
Other Current Liabilities (in millions)
September 29,
2024		September 24,
2023
Customer incentives and other customer-related liabilities$2,480 $1,821 
Income taxes payable1,080 1,717 
Other865 953 
$4,425 $4,491 
QCT Revenues Disaggregated QCT revenue streams were as follows (in millions):
202420232022
Handsets (1)$24,863 $22,570 $28,815 
Automotive (2)2,910 1,872 1,509 
IoT (internet of things) (3)5,423 5,940 7,353 
Total QCT revenues$33,196 $30,382 $37,677 
(1) Includes revenues from products sold for use in mobile handsets.
(2) Includes revenues from products sold for use in automobiles, including connectivity, digital cockpit and ADAS/AD.
(3) Primarily includes products sold for use in the following industries and applications: consumer (including PCs, tablets, voice and music and XR), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities).
Revenue recognized from performance obligations satisfied in previous periods
Revenues recognized from performance obligations satisfied (or partially satisfied) in previous periods generally include certain QCT sales-based royalty revenues related to system software, certain amounts related to QCT customer incentives and QTL royalty revenues recognized related to devices sold in prior periods (including adjustments to prior period royalty estimates, which includes the impact of the reporting by our licensees of actual royalties due) and were as follows (in millions):
202420232022
Revenues recognized from previously satisfied performance obligations
$558 $598 $788 
Concentrations Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
September 29,
2024		September 24,
2023		September 25,
2022
Customer/licensee (x)
22 %27 %21 %
Customer/licensee (y)
19 21 21 
Customer/licensee (z)
12 **
* Less than 10%
Investment and Other Income, net
Investment and Other Income (Expense), Net (in millions)
202420232022
Interest and dividend income$675 $313 $91 
Net gains (losses) on marketable securities
14 75 (363)
Net gains on other investments175 21 113 
Net gains (losses) on deferred compensation plan assets
198 86 (141)
Impairment losses on other investments(79)(132)(47)
Other(21)(14)(25)
$962 $349 $(372)