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Composition of Certain Financial Statement Items (Tables)
 12 Months Ended
Sep. 28, 2025
Balance Sheet Related Disclosures [Abstract]  
Accounts Receivable
Accounts Receivable (in millions)
September 28,
2025		September 29,
2024
Trade, net of allowances for doubtful accounts $2,855 $2,347 
Unbilled1,443 1,546 
Other17 36 
$4,315 $3,929 
Inventories
Inventories (in millions)
September 28,
2025		September 29,
2024
Raw materials$336 $340 
Work-in-process3,985 3,497 
Finished goods2,205 2,586 
$6,526 $6,423 
Property, Plant and Equipment
Property, Plant and Equipment (in millions)
September 28,
2025		September 29,
2024
Land$168 $169 
Buildings and improvements1,915 1,888 
Computer equipment and software2,165 2,022 
Machinery and equipment9,360 8,647 
Furniture and office equipment148 139 
Leasehold improvements594 550 
Construction in progress154 126 
14,504 13,541 
Less accumulated depreciation and amortization(9,814)(8,876)
$4,690 $4,665 
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 2025 and 2024 (in millions):
QCTQTLTotal
Balance at September 24, 2023
$9,909 $733 $10,642 
Acquisitions126 — 126 
Foreign currency translation adjustments30 1 31 
Balance at September 29, 2024 (1)
10,065 734 10,799 
Acquisitions526 — 526 
Foreign currency translation adjustments32 1 33 
Balance at September 28, 2025 (1)
$10,623 $735 $11,358 
(1) Cumulative goodwill impairments were $812 million at both September 28, 2025 and September 29, 2024.
Intangible Assets
The components of other intangible assets, net were as follows (in millions):
September 28, 2025September 29, 2024
Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)		Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)
Technology-based$2,553 $(1,421)9$2,498 $(1,275)9
Other70 (54)1169 (48)11
$2,623 $(1,475)9$2,567 $(1,323)9
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 28,
2025		September 29,
2024
Equity method investments$163 $154 
Non-marketable equity investments (1)
1,216 1,187 
$1,379 $1,341 
(1) Cumulative unrealized gains were $394 million and $370 million at September 28, 2025 and September 29, 2024, respectively. Cumulative unrealized losses, including impairments, were $457 million and $385 million at September 28, 2025 and September 29, 2024, respectively.
Other Current Liabilities
Other Current Liabilities (in millions)
September 28,
2025		September 29,
2024
Customer incentives and other customer-related liabilities$1,948 $2,480 
Income taxes payable1,007 1,080 
Other1,201 865 
$4,156 $4,425 
QCT Revenues Disaggregated
QCT revenue streams were as follows (in millions):
202520242023
Handsets (1)$27,793 $24,863 $22,570 
Automotive (2)3,957 2,910 1,872 
IoT (internet of things) (3)6,617 5,423 5,940 
Total QCT revenues$38,367 $33,196 $30,382 
(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, XR and other personal computing devices), 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 QTL royalty revenues recognized related to devices sold in prior periods (including revenues resulting from certain settlements and 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):
202520242023
Revenues recognized from previously satisfied performance obligations
$783 $558 $598 
Concentrations Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
202520242023
Customer/licensee (x)
21%22%27%
Customer/licensee (y)
201921
Customer/licensee (z)
1312*
* Less than 10%
Investment and Other Income, net
Investment and Other Income, Net (in millions)
202520242023
Interest and dividend income$639 $675 $313 
Net gains on marketable securities
254 14 75 
Net gains on other investments44 175 21 
Net gains on deferred compensation plan assets
127 198 86 
Impairment losses on other investments(113)(79)(132)
Other21 (21)(14)
$972 $962 $349