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Segment Information | 12 Months Ended
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Sep. 29, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information We are organized on the basis of products and services and have three reportable segments. Our operating segments reflect the way our businesses and management/reporting structure are organized internally and the way our Chief Operating Decision Maker (CODM), who is our CEO, reviews financial information, makes operating decisions and assesses business performance. We also consider, among other items, the way budgets and forecasts are prepared and reviewed and the basis on which executive compensation is determined, as well as the similarities and the level of centralized resource planning within our operating segments, such as the nature of products, the level of shared products, technology and other resources, production processes and customer base. We conduct business primarily through our QCT semiconductor business and our QTL licensing business. QCT develops and supplies integrated circuits and system software with advanced connectivity and high-performance, low-power computing technologies for use in mobile devices; automotive systems for connectivity, digital cockpit and ADAS/AD; and IoT including consumer electronic devices, industrial devices and edge networking products. QTL grants licenses or otherwise provides rights to use portions of our intellectual property portfolio, which includes certain patent rights essential to and/or useful in the manufacture and sale of certain wireless products. Our QSI (Qualcomm Strategic Initiatives) reportable segment makes strategic investments. We also have nonreportable segments, including QGOV (Qualcomm Government Technologies) and our cloud computing processing initiative. Our CODM allocates resources to and evaluates the performance of our segments based on revenues and earnings (loss) before income taxes (EBT). Segment EBT includes the allocation of certain corporate expenses to the segments, including depreciation and amortization expense related to certain corporate assets. Certain income and charges are not allocated to segments in our management reports because they are not considered in evaluating the segments’ operating performance. Unallocated income and charges include certain interest expense, certain net investment income, share-based compensation, gains and losses on our deferred compensation plan liabilities and related assets and certain research and development expenses, certain selling, general and administrative expenses and other expenses or income that were deemed to be not directly related to the businesses of the segments. Additionally, unallocated charges include recognition of the step-up of inventories and property, plant and equipment to fair value, amortization of certain intangible assets and certain other acquisition-related charges, third-party acquisition and integration services costs and certain other items, which may include major restructuring and restructuring-related costs, asset impairment charges and awards, settlements and/or damages arising from legal or regulatory matters. Our CODM does not evaluate our operating segments using discrete asset information. The table below presents revenues and EBT for reportable segments (in millions):
| 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |
QCT | $ | 33,196 |  |  | $ | 30,382 |  |  | $ | 37,677 |
QTL | 5,572 |  |  | 5,306 |  |  | 6,358 |
QSI | 18 |  |  | 28 |  |  | 31 |
Reconciling items | 176 |  |  | 104 |  |  | 134 |
Total | $ | 38,962 |  |  | $ | 35,820 |  |  | $ | 44,200 |
EBT: |  |  |  |  |
QCT | $ | 9,527 |  |  | $ | 7,924 |  |  | $ | 12,837 |
QTL | 4,027 |  |  | 3,628 |  |  | 4,628 |
QSI | 104 |  |  | (12) |  |  | (279) |
Reconciling items | (3,322) |  |  | (4,097) |  |  | (2,188) |
Total | $ | 10,336 |  |  | $ | 7,443 |  |  | $ | 14,998 |
Reconciling items for revenues and EBT in the previous table were as follows (in millions):
|  |  |  | 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Nonreportable segments |  |  |  |  |  |  |  | $ | 176 |  |  | $ | 144 |  |  | $ | 134 |
Unallocated revenues |  |  |  |  |  |  |  | — |  |  | (40) |  |  | — |
|  |  |  |  |  |  |  | $ | 176 |  |  | $ | 104 |  |  | $ | 134 |
EBT: |  |  |  |  |  |  |  |  |  |  |  |
Unallocated revenues |  |  |  |  |  |  |  | $ | — |  |  | $ | (40) |  |  | $ | — |
Unallocated cost of revenues |  |  |  |  |  |  |  | (229) |  |  | (205) |  |  | (266) |
Unallocated research and development expenses |  |  |  |  |  |  |  | (2,277) |  |  | (2,034) |  |  | (1,767) |
Unallocated selling, general and administrative expenses |  |  |  |  |  |  |  | (781) |  |  | (588) |  |  | (609) |
Unallocated other (expense) income (Note 2) |  |  |  |  |  |  |  | (179) |  |  | (862) |  |  | 1,059 |
Unallocated interest expense |  |  |  |  |  |  |  | (697) |  |  | (694) |  |  | (490) |
Unallocated investment and other income (expense), net |  |  |  |  |  |  |  | 855 |  |  | 364 |  |  | (91) |
Nonreportable segments |  |  |  |  |  |  |  | (14) |  |  | (38) |  |  | (24) |
|  |  |  |  |  |  |  | $ | (3,322) |  |  | $ | (4,097) |  |  | $ | (2,188) |
The net book value of long-lived tangible assets located outside of the U.S. (the majority of which is located in Taiwan and the rest of the Asia-Pacific region) was $3.5 billion and $3.6 billion at September 29, 2024 and September 24, 2023, respectively. The net book value of long-lived tangible assets located in the U.S. was $1.9 billion and $2.0 billion at September 29, 2024 and September 24, 2023, respectively. Beginning in fiscal 2024, revenues by country are presented based on our customer’s/licensee’s headquarter location and were as follows (in millions):
| 2024 |  | 2023 |  | 2022
China (including Hong Kong) | $ | 17,826 |  |  | 46 | % |  | $ | 13,386 |  |  | 37 | % |  | $ | 18,977 |  |  | 43 | %
United States | 9,686 |  |  | 25 |  |  | 10,503 |  |  | 29 |  |  | 10,501 |  |  | 24 |
South Korea | 7,995 |  |  | 20 |  |  | 8,075 |  |  | 23 |  |  | 9,666 |  |  | 22 |
Other foreign | 3,455 |  |  | 9 |  |  | 3,856 |  |  | 11 |  |  | 5,056 |  |  | 11 |
| $ | 38,962 |  |  | 100 | % |  | $ | 35,820 |  |  | 100 | % |  | $ | 44,200 |  |  | 100 | %
Previously, revenues by country were presented based on the location to which our products or services were delivered. For QCT, this was the country in which our customers manufacture their products and for licensing revenues, the invoiced addresses of our licensees, and was not necessarily indicative of either the country in which the devices containing our products and/or intellectual property are ultimately sold to consumers or the country in which the companies that sell the devices were headquartered. We believe this change generally provides a better representation of the geographic profile of our revenues. However, it is still not necessarily indicative of the country in which the devices containing our products and/or intellectual property are ultimately sold to consumers. Prior period information has been recast to reflect this change. For comparative purposes, based on the location to which our products or services are delivered, revenues from sales into China (including Hong Kong), United States, South Korea, and Vietnam were 66%, 3%, 7%, and 12% of total revenues, respectively, for fiscal 2024.

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- Definition The entire disclosure for reporting segments including data and tables. 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