Qualcomm 2014 Annual Report Download - page 61

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See accompanying notes.
F- 5
Year Ended
September 28,
2014
September 29,
2013
September 30,
2012
Operating Activities:
Net income
$
7,964
$
6,845
$
6,059
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense
1,150
1,017
897
Gain on sale of discontinued operations
(665
)
—
—
Gain on sale of wireless spectrum
—
—
(
1,179
)
Long-lived asset and goodwill impairment charges
642
192
84
Income tax provision in excess of income tax payments
298
268
395
Non-cash portion of share-based compensation expense
1,059
1,105
1,035
Incremental tax benefit from share-based compensation
(280
)
(231
)
(168
)
Net realized gains on marketable securities and other investments
(826
)
(369
)
(369
)
Impairment losses on marketable securities and other investments
180
85
83
Other items, net
(17
)
(19
)
(174
)
Changes in assets and liabilities:
Accounts receivable, net
(281
)
(680
)
(456
)
Inventories
(155
)
(300
)
(252
)
Other assets
108
(209
)
(240
)
Trade accounts payable
619
307
371
Payroll, benefits and other liabilities
(617
)
752
(341
)
Unearned revenues
(292
)
15
253
Net cash provided by operating activities
8,887
8,778
5,998
Investing Activities:
Capital expenditures
(1,185
)
(1,048
)
(1,284
)
Purchases of available-for-sale securities
(13,581
)
(13,951
)
(15,511
)
Proceeds from sales and maturities of available-for-sale securities
13,587
13,494
9,858
Purchases of trading securities
(3,075
)
(3,312
)
(4,009
)
Proceeds from sales and maturities of trading securities
2,824
3,367
3,060
Purchases of other marketable securities
(220
)
—
—
Proceeds from sale of discontinued operations, net of cash sold
788
—
—
Proceeds from sale of wireless spectrum
—
—
1,925
Acquisitions and other investments, net of cash acquired
(883
)
(192
)
(833
)
Other items, net
106
64
(83
)
Net cash used by investing activities
(1,639
)
(1,578
)
(6,877
)
Financing Activities:
Proceeds from issuance of common stock
1,439
1,525
1,714
Incremental tax benefit from share-based compensation
280
231
168
Repurchases and retirements of common stock
(4,549
)
(4,610
)
(1,313
)
Dividends paid
(2,586
)
(2,055
)
(1,583
)
Borrowings under loans and debentures
—
534
710
Repayments of loans and debentures
—
(
439
)
(591
)
Other items, net
(64
)
(31
)
138
Net cash used by financing activities
(5,480
)
(4,845
)
(757
)
Changes in cash and cash equivalents held for sale
—
(
15
)
—
Effect of exchange rate changes on cash
(3
)
(5
)
(19
)
Net increase (decrease) in cash and cash equivalents
1,765
2,335
(1,655
)
Cash and cash equivalents at beginning of year
6,142
3,807
5,462
Cash and cash equivalents at end of year
$
7,907
$
6,142
$
3,807