Qualcomm Announces Fourth Quarter and Fiscal 2013 Results



Qualcomm Incorporated

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)


















Three Months Ended


Twelve Months Ended


September 29, 2013


September 30, 2012


September 29, 2013


September 30, 2012

Operating Activities:








Net income

$

1,501



$

1,263



$

6,845



$

6,059


Adjustments to reconcile net income to net cash provided by operating activities:








   Depreciation and amortization expense

273



257



1,017



897


   Gain on sale of wireless spectrum







(1,179)


   Goodwill and long-lived asset impairment charges

1



59



192



84


   Revenues related to non-monetary exchanges

(30)



(30)



(123)



(122)


   Income tax provision in excess of income tax payments

48



156



268



395


   Non-cash portion of share-based compensation expense

274



283



1,105



1,035


   Incremental tax benefit from share-based compensation

(53)



(41)



(231)



(168)


   Net realized gains on marketable securities and other investments

(129)



(155)



(369)



(369)


   Net impairment losses on marketable securities and other investments

36



19



85



83


Other items, net

82



10



104



(52)


Changes in assets and liabilities, net of effects of acquisitions:








   Accounts receivable, net

(235)



(207)



(680)



(456)


   Inventories

399



(199)



(300)



(252)


   Other assets

(98)



(209)



(209)



(240)


   Trade accounts payable

(291)



174



307



371


   Payroll, benefits and other liabilities

700



71



752



(341)


   Unearned revenues

45



(42)



15



253


   Net cash provided by operating activities

2,523



1,409



8,778



5,998


Investing Activities:








Capital expenditures

(200)



(250)



(1,048)



(1,284)


Purchases of available-for-sale securities

(1,839)



(3,707)



(13,951)



(15,511)


Proceeds from sales and maturities of available-for-sale securities

6,157



4,084



13,494



9,858


Purchases of trading securities

(654)



(1,729)



(3,312)



(4,009)


Proceeds from sales and maturities of trading securities

1,002



1,763



3,367



3,060


Proceeds from sale of wireless spectrum







1,925


Acquisitions and other investments, net of cash acquired

(13)



(156)



(192)



(833)


Other items, net

(4)



(7)



64



(83)


   Net cash provided (used) by investing activities

4,449



(2)



(1,578)



(6,877)


Financing Activities:








Borrowing under loans and debentures





534



710


Repayment of loans and debentures





(439)



(591)


Proceeds from issuance of common stock

561



355



1,525



1,714


Incremental tax benefit from share-based compensation

53



41



231



168


Repurchases and retirements of common stock

(3,321)



(841)



(4,610)



(1,313)


Dividends paid

(592)



(426)



(2,055)



(1,583)


Other items, net

(66)



(146)



(31)



138


   Net cash used by financing activities

(3,365)



(1,017)



(4,845)



(757)


Changes in cash and cash equivalents held for sale





(15)




Effect of exchange rate changes on cash

2



5



(5)



(19)


   Net increase (decrease) in cash and cash equivalents

3,609



395



2,335



(1,655)


Cash and cash equivalents at beginning of year

2,533



3,412



3,807



5,462


   Cash and cash equivalents at end of year

$

6,142



$

3,807



$

6,142



$

3,807


Certain prior period amounts have been reclassified to conform to the current period presentation.

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