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36 qualcomm 2006
Selected Financial Data
The following balance sheet data and statement of operations data for the ve scal years ended September 24, 2006, September 25, 2005,
September 26, 2004, September 28, 2003 and September 29, 2002 were derived from our audited consolidated nancial statements.
Consolidated balance sheets at September 24, 2006 and September 25, 2005 and the related consolidated statements of operations and
cash ows for scal 2006, 2005 and 2004 and notes thereto appear elsewhere herein. The data should be read in conjunction with the
annual consolidated nancial statements, related notes and other nancial information appearing elsewhere herein.
Years Ended(1)
Sept. 24, Sept. 25, Sept. 26, Sept. 28, Sept. 29,
(In millions, except per share data) 2006 2005 2004(2)(4) 2003(2) 2002(2)
Statement of Operations Data:
Revenues $ 7,526 $ 5,673 $ 4,880 $3,847 $2,915
Operating income 2,690 2,386 2,129 1,573 840
Income from continuing operations 2,470 2,143 1,725 1,029 525
Discontinued operations, net of tax — — (5) (202) (165)
Net income $ 2,470 $ 2,143 $ 1,720 $ 827 $ 360
Basic earnings per common share: (3)
Income from continuing operations $ 1.49 $ 1.31 $ 1.07 $ 0.65 $ 0.34
Discontinued operations, net of tax — — (0.01) (0.13) (0.11)
Net income $ 1.49 $ 1.31 $ 1.06 $ 0.52 $ 0.23
Diluted earnings per common share: (3)
Income from continuing operations $ 1.44 $ 1.26 $ 1.03 $ 0.63 $ 0.32
Discontinued operations, net of tax — — — (0.12) (0.10)
Net income $ 1.44 $ 1.26 $ 1.03 $ 0.51 $ 0.22
Dividends per share announced $ 0.420 $ 0.320 $ 0.190 $0.085 $ —
Shares used in earnings per share calculations: (3)
Basic 1,659 1,638 1,616 1,579 1,542
Diluted 1,711 1,694 1,675 1,636 1,619
Balance Sheet Data:
Cash, cash equivalents and marketable securities $ 9,949 $ 8,681 $ 7,635 $5,372 $3,200
Total assets 15,208 12,479 10,820 8,822 6,506
Long-term debt (5) 58 3 — 123 94
Total stockholders’ equity 13,406 11,119 9,664 7,598 5,392
(1) Our scal year ends on the last Sunday in September. The ve scal years ended September 24, 2006, September 25, 2005, September 26, 2004, September 28,
2003 and September 29, 2002 each included 52 weeks.
(2) During scal 2004, we sold the Vésper Operating Companies and the Vésper Towers and returned personal mobile service (SMP) licenses to Anatel, the tele-
communications regulatory agency in Brazil. The results of operations, including gains and losses realized on the sales transactions and the SMP licenses, are
presented as discontinued operations.
(3) We effected a two-for-one stock split in August 2004. All references to number of shares and per share amounts reect this stock split.
(4) Prior to the fourth quarter of scal 2004, we recorded royalty revenues from certain licensees based on our estimates of royalties during the period they were
earned. Starting in the fourth quarter of scal 2004, we began recognizing royalty revenues solely based on royalties reported by licensees during the quarter. The
change in the timing of recognizing royalty revenue was made prospectively and had the initial one-time effect of reducing royalty revenues recorded in the fourth
quarter of scal 2004. See Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Annual Report for more information.
(5) Long-term debt for the years ended September 24, 2006 and September 25, 2005 consisted of capital lease obligations, which are included in other
liabilities in the consolidated balance sheets.