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10-Q Filing

MOTOROLA SOLUTIONS, INC. CIK: 68505 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000068505-17-000005
Period End Date 20170331
Filing Date 20170505
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance msi-20170401.xml
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Preferred stock par value (in US$ per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $967.00M USD Point-in-time
Preferred stock par value (in US$ per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $766.00M USD Point-in-time
Common stock par value (in US$ per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock par value (in US$ per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Restricted cash RestrictedCash $63.00M USD Point-in-time
Restricted cash RestrictedCash $63.00M USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $829.00M USD Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.03B USD Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.98B USD Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.94B USD Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 163.90M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.41B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.07B USD Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 165.50M shares Point-in-time
Inventories, net InventoryNet $345.00M USD Point-in-time
Inventories, net InventoryNet $273.00M USD Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 164.70M shares Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 163.50M shares Point-in-time
Other current assets OtherAssetsCurrent $829.00M USD Point-in-time
Other current assets OtherAssetsCurrent $755.00M USD Point-in-time
Total current assets AssetsCurrent $3.07B USD Point-in-time
Total current assets AssetsCurrent $3.47B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $820.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $789.00M USD Point-in-time
Investments LongTermInvestments $237.00M USD Point-in-time
Investments LongTermInvestments $238.00M USD Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $2.22B USD Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $2.20B USD Point-in-time
Goodwill Goodwill $728.00M USD Point-in-time
Goodwill Goodwill $737.00M USD Point-in-time
Intangible assets FiniteLivedIntangibleAssetsNet $878.00M USD Point-in-time
Intangible assets FiniteLivedIntangibleAssetsNet $821.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $200.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $197.00M USD Point-in-time
Total assets Assets $8.14B USD Point-in-time
Total assets Assets $8.46B USD Point-in-time
Current portion of long-term debt DebtCurrent $44.00M USD Point-in-time
Current portion of long-term debt DebtCurrent $4.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $433.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $553.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $2.11B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.91B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.67B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.38B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $4.39B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $4.41B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.35B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.38B USD Point-in-time
Preferred stock, $100 par value PreferredStockValue - USD Point-in-time
Preferred stock, $100 par value PreferredStockValue - USD Point-in-time
Common stock, $.01 par value: Authorized shares: 600.0 I 4/1/17163.9; 12/31/16165.5 Outstanding shares: 4/1/17163.5; 12/31/16164.7 CommonStockValue $2.00M USD Point-in-time
Common stock, $.01 par value: Authorized shares: 600.0 I 4/1/17163.9; 12/31/16165.5 Outstanding shares: 4/1/17163.5; 12/31/16164.7 CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $242.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $203.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $970.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.15B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.32B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.26B USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-1.05B USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-964.00M USD Point-in-time
Noncontrolling interests MinorityInterest $13.00M USD Point-in-time
Noncontrolling interests MinorityInterest $12.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-952.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.04B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $8.46B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $8.14B USD Point-in-time
Income Statement 50 line items
Line Item Tag Value Unit Period
Net sales from products SalesRevenueGoodsNet $703.00M USD 1 Quarter
Net sales from products SalesRevenueGoodsNet $702.00M USD 1 Quarter
Net sales from services SalesRevenueServicesNet $578.00M USD 1 Quarter
Net sales from services SalesRevenueServicesNet $491.00M USD 1 Quarter
Net sales Revenues $1.28B USD 1 Quarter
Net sales Revenues $1.19B USD 1 Quarter
Costs of products sales CostOfGoodsSold $347.00M USD 1 Quarter
Costs of products sales CostOfGoodsSold $366.00M USD 1 Quarter
Costs of services sales CostOfServices $325.00M USD 1 Quarter
Costs of services sales CostOfServices $364.00M USD 1 Quarter
Costs of sales CostOfRevenue $711.00M USD 1 Quarter
Costs of sales CostOfRevenue $691.00M USD 1 Quarter
Gross margin GrossProfit $502.00M USD 1 Quarter
Gross margin GrossProfit $570.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $234.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $232.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $135.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $135.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-27.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-33.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $100.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $176.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-51.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-49.00M USD 1 Quarter
Gains (losses) on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $3.00M USD 1 Quarter
Gains (losses) on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $-21.00M USD 1 Quarter
Other OtherNonoperatingIncomeExpense $-8.00M USD 1 Quarter
Other OtherNonoperatingIncomeExpense $-8.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-78.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-56.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $120.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $22.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $5.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $42.00M USD 1 Quarter
Net earnings ProfitLoss $78.00M USD 1 Quarter
Net earnings ProfitLoss $17.00M USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $17.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $77.00M USD 1 Quarter
Basic (in US$ per share) EarningsPerShareBasic $0.47 USD 1 Quarter
Basic (in US$ per share) EarningsPerShareBasic $0.10 USD 1 Quarter
Diluted (in US$ per share) EarningsPerShareDiluted $0.45 USD 1 Quarter
Diluted (in US$ per share) EarningsPerShareDiluted $0.10 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 164.20M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 174.50M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 177.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 169.90M shares 1 Quarter
Dividends declared per share (in US$ per share) CommonStockDividendsPerShareDeclared $0.47 USD 1 Quarter
Dividends declared per share (in US$ per share) CommonStockDividendsPerShareDeclared $0.41 USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $17.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $77.00M USD 1 Quarter
Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net earnings ProfitLoss $78.00M USD 1 Quarter
Net earnings ProfitLoss $17.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $80.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $62.00M USD 1 Quarter
Non-cash other charges OtherNonCashChargesOrIncome $11.00M USD 1 Quarter
Non-cash other charges OtherNonCashChargesOrIncome $15.00M USD 1 Quarter
Non-U.S. pension settlement loss DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments - USD 1 Quarter
Non-U.S. pension settlement loss DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments $-9.00M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $17.00M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $17.00M USD 1 Quarter
Losses (gains) on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $3.00M USD 1 Quarter
Losses (gains) on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $-21.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $23.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $35.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-368.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-277.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $4.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $69.00M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $59.00M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $43.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-307.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-363.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $17.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $10.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $142.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $13.00M USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $1.05B USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $106.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $481.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $53.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $68.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $51.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-623.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-121.00M USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt $1.00M USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt $1.00M USD 1 Quarter
Net proceeds from issuance of debt ProceedsFromIssuanceOfDebt - USD 1 Quarter
Net proceeds from issuance of debt ProceedsFromIssuanceOfDebt $673.00M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $22.00M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $40.00M USD 1 Quarter
Purchase of common stock PaymentsForRepurchaseOfCommonStock $64.00M USD 1 Quarter
Purchase of common stock PaymentsForRepurchaseOfCommonStock $178.00M USD 1 Quarter
Payment of dividends PaymentsOfDividendsCommonStock $71.00M USD 1 Quarter
Payment of dividends PaymentsOfDividendsCommonStock $77.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $577.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-234.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-7.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $12.00M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashandRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-40.00M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashandRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-201.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $829.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.03B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.98B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.94B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $829.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.03B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.98B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashandRestrictedCashEquivalents $1.94B USD Point-in-time
Interest, net InterestPaidNet $59.00M USD 1 Quarter
Interest, net InterestPaidNet $54.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $21.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $52.00M USD 1 Quarter
Stockholders Equity 9 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-952.00M USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.04B USD Point-in-time
Net earnings ProfitLoss $78.00M USD 1 Quarter
Net earnings ProfitLoss $17.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $53.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $21.00M USD 1 Quarter
Share repurchase program (in shares) StockRepurchasedAndRetiredDuringPeriodShares 2.20M shares 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-952.00M USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.04B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $78.00M USD 1 Quarter
Net earnings ProfitLoss $17.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $13.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $34.00M USD 1 Quarter
Marketable securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Marketable securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $4.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-19.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-4.00M USD 1 Quarter
Total other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $53.00M USD 1 Quarter
Total other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $21.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $131.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $38.00M USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive income attributable to Motorola Solutions, Inc. common shareholders ComprehensiveIncomeNetOfTax $130.00M USD 1 Quarter
Comprehensive income attributable to Motorola Solutions, Inc. common shareholders ComprehensiveIncomeNetOfTax $38.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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