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QUALCOMM Incorporated
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
At September 28, 2014 , the Company concluded that the unrealized losses on its available-for-sale securities were temporary. Further, for
common and preferred stock and for equity and debt funds with unrealized losses, the Company has the ability and the intent to hold such
securities until they recover. For debt securities with unrealized losses, the Company does not have the intent to sell, nor is it more likely than
not that the Company will be required to sell, such securities before recovery or maturity.
The ending balance of the credit loss portion of other-than-temporary impairments on debt securities held by the Company for fiscal 2014 ,
2013 and 2012 was $8 million , $4 million and $31 million , respectively.
Note 14. Subsequent Event
In October 2014, the Company announced that it had reached agreement with CSR plc on the terms of a recommended cash offer to acquire
the entire issued and to be issued ordinary share capital of CSR for £ 9.00 per ordinary share, which values the entire issued and to be issued
share capital of CSR at approximately £1.6 billion (approximately $2.5 billion based upon an exchange rate of USD: GBP 1.6057 ). CSR is an
innovator in the development of multifunction semiconductor platforms and technologies for the auto, consumer and voice and music market
segments. The acquisition complements the Company’
s current offerings by adding products, channels and customers in the growth categories of
the Internet of Everything and automotive infotainment, accelerating the Company’s presence and path to leadership. The acquisition is subject
to a number of conditions, including receipt of United States and other regulatory approvals and the approval of CSR’s shareholders. Subject to
the satisfaction of these conditions, the acquisition is expected to close by the end of the summer of 2015.
F- 32
September 29, 2013
Less than 12 months
More than 12 months
Fair Value
Unrealized
Losses
Fair Value
Unrealized
Losses
U.S. Treasury securities and government-related securities
$
42
$
(1
)
$
—
$
—
Corporate bonds and notes
2,084
(31
)
24
(1
)
Mortgage- and asset-backed securities
367
(5
)
24
—
Auction rate securities
—
—
83
(1
)
Common and preferred stock
291
(41
)
—
—
Debt funds
2,776
(123
)
4
—
Equity funds
82
(3
)
—
—
$
5,642
$
(204
)
$
135
$
(2
)