|
Shareholders' Equity and Share-based Compensation (Tables)
|
9 Months Ended |
|
Jun. 30, 2012
|
| Components of Comprehensive Income, Net of Taxes |
The following
table presents the components of comprehensive income, net of
taxes, during the three- and nine-month periods ended June 30,
2012 and June 25, 2011 (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Nine Months Ended |
|
| |
|
June 30,
2012 |
|
|
June 25,
2011 |
|
|
June 30,
2012 |
|
|
June 25,
2011 |
|
|
Net income
|
|
$ |
8,824 |
|
|
$ |
7,308 |
|
|
$ |
33,510 |
|
|
$ |
19,299 |
|
|
Other comprehensive
income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in unrecognized
gains/losses on derivative instruments
|
|
|
96 |
|
|
|
112 |
|
|
|
(89 |
) |
|
|
273 |
|
|
Change in foreign currency
translation
|
|
|
(91 |
) |
|
|
11 |
|
|
|
(88 |
) |
|
|
101 |
|
|
Change in unrealized
gains/losses on marketable securities
|
|
|
3 |
|
|
|
140 |
|
|
|
266 |
|
|
|
61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive
income
|
|
$ |
8,832 |
|
|
$ |
7,571 |
|
|
$ |
33,599 |
|
|
$ |
19,734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Comprehensive Income Related to Derivatives, Net of Taxes |
The following
table summarizes activity in other comprehensive income related to
derivatives, net of taxes, held by the Company during the three-
and nine-month periods ended June 30, 2012 and June 25,
2011 (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Nine Months Ended |
|
| |
|
June 30,
2012 |
|
|
June 25,
2011 |
|
|
June 30,
2012 |
|
|
June 25,
2011 |
|
|
Change in fair value of
derivatives
|
|
$ |
150 |
|
|
$ |
8 |
|
|
$ |
216 |
|
|
$ |
(175 |
) |
|
Adjustment for net
gains/losses realized and included in net income
|
|
|
(54 |
) |
|
|
104 |
|
|
|
(305 |
) |
|
|
448 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in unrecognized
gains/losses on derivative instruments
|
|
$ |
96 |
|
|
$ |
112 |
|
|
$ |
(89 |
) |
|
$ |
273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Components of Accumulated Other Comprehensive Income, Net of Taxes |
The following
table shows the components of AOCI, net of taxes, as of
June 30, 2012 and September 24, 2011 (in
millions):
|
|
|
|
|
|
|
|
|
| |
|
June 30, 2012 |
|
|
September 24, 2011 |
|
|
Net unrealized gains/losses
on marketable securities
|
|
$ |
396 |
|
|
$ |
130 |
|
|
Net unrecognized
gains/losses on derivative instruments
|
|
|
201 |
|
|
|
290 |
|
|
Cumulative foreign currency
translation
|
|
|
(65 |
) |
|
|
23 |
|
|
|
|
|
|
|
|
|
|
|
Accumulated other
comprehensive income
|
|
$ |
532 |
|
|
$ |
443 |
|
|
|
|
|
|
|
|
|
|
|
| Restricted Stock Units Activity and Related Information |
A summary of
the Company’s RSU activity and related information for the
nine months ended June 30, 2012 is as follows (in thousands,
except weighted-average grant date fair value amounts):
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number of
RSUs |
|
|
Weighted-
Average
Grant Date
Fair
Value |
|
|
Aggregate
Intrinsic
Value |
|
|
Balance at September 24,
2011
|
|
|
14,446 |
|
|
$ |
231.49 |
|
|
|
|
|
|
RSUs granted
|
|
|
7,223 |
|
|
$ |
414.88 |
|
|
|
|
|
|
RSUs vested
|
|
|
(5,955 |
) |
|
$ |
202.92 |
|
|
|
|
|
|
RSUs cancelled
|
|
|
(812 |
) |
|
$ |
245.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at June 30,
2012
|
|
|
14,902 |
|
|
$ |
331.05 |
|
|
$ |
8,702,991 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Stock Option Activity and Related Information |
A summary of
the Company’s stock option activity and related information
for the nine months ended June 30, 2012 is as follows (in
thousands, except weighted-average exercise price amounts and
weighted-average remaining contractual term in years):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number
of Options |
|
|
Weighted-
Average
Exercise
Price |
|
|
Weighted-
Average
Remaining
Contractual
Term |
|
|
Aggregate
Intrinsic
Value |
|
|
Balance at
September 24, 2011
|
|
|
11,866 |
|
|
$ |
108.64 |
|
|
|
|
|
|
|
|
|
|
Options granted
|
|
|
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
Options assumed
|
|
|
41 |
|
|
$ |
30.92 |
|
|
|
|
|
|
|
|
|
|
Options
cancelled
|
|
|
(23 |
) |
|
$ |
103.35 |
|
|
|
|
|
|
|
|
|
|
Options
exercised
|
|
|
(3,910 |
) |
|
$ |
85.19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at June 30,
2012
|
|
|
7,974 |
|
|
$ |
119.75 |
|
|
|
1.9 |
|
|
$ |
3,702,090 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at
June 30, 2012
|
|
|
7,869 |
|
|
$ |
119.93 |
|
|
|
1.9 |
|
|
$ |
3,652,052 |
|
|
|
|
|
|
|
Expected to vest after
June 30, 2012
|
|
|
105 |
|
|
$ |
106.00 |
|
|
|
4.9 |
|
|
$ |
50,039 |
|
|
| Summary of Share-Based Compensation Expense |
The following
table provides a summary of the share-based compensation expense
included in the Condensed Consolidated Statements of Operations for
the three- and nine-month periods ended June 30, 2012 and
June 25, 2011 (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Nine Months
Ended |
|
| |
|
June 30,
2012 |
|
|
June 25,
2011 |
|
|
June 30,
2012 |
|
|
June 25,
2011 |
|
|
Cost of sales
|
|
$ |
70 |
|
|
$ |
52 |
|
|
$ |
196 |
|
|
$ |
155 |
|
|
Research and
development
|
|
|
172 |
|
|
|
119 |
|
|
|
500 |
|
|
|
336 |
|
|
Selling, general and
administrative
|
|
|
206 |
|
|
|
113 |
|
|
|
596 |
|
|
|
379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total share-based
compensation expense
|
|
$ |
448 |
|
|
$ |
284 |
|
|
$ |
1,292 |
|
|
$ |
870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|