Composition of Certain Financial Statement Items (Tables)

3 Months Ended

Dec. 29, 2024

Condensed Financial Information Disclosure [Abstract]

Inventories

Inventories (in millions)
	December 29, 2024		September 29, 2024
Raw materials	$	333	$	340
Work-in-process	3,636		3,497
Finished goods	2,334		2,586
	$	6,303	$	6,423

QCT Revenues Disaggregated

QCT revenue streams were as follows (in millions):

	Three Months Ended
	December 29, 2024		December 24, 2023
Handsets (1)	$	7,574	$	6,687
Automotive (2)	961		598
IoT (internet of things) (3)	1,549		1,138
Total QCT revenues	$	10,084	$	8,423

(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 advanced driver assistance systems (ADAS) and automated driving (AD).

(3) Primarily includes products sold for use in the following industries and applications: consumer (including personal computers (PCs), tablets, voice and music and extended reality (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 sales-based royalty revenues related to system software, certain amounts related to customer incentives and licensing revenues recognized related to devices sold in prior periods (including adjustments to prior period royalty estimates, which include the impact of the reporting by our licensees of actual royalties due) and were as follows (in millions):

	Three Months Ended
	December 29, 2024		December 24, 2023
Revenues recognized from previously satisfied performance obligations	$	263	$	176

Customer Concentrations - Revenues

Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:

	Three Months Ended
	December 29, 2024		December 24, 2023
Customer/licensee (x)	24	%	25	%
Customer/licensee (y)	15		18
Customer/licensee (z)	14		14

Investment and Other Income (Expense), Net

Investment and Other Income (Expense), Net (in millions)
	Three Months Ended
	December 29, 2024		December 24, 2023
Interest and dividend income	$	169	$	149
Net gains on marketable securities	19		11
Net gains on other investments	30		5
Net gains on deferred compensation plan assets	15		66
Impairment losses on other investments	(24)		(12)
Other	34		(7)
	$	243	$	212