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10-Q Filing

MOTOROLA SOLUTIONS, INC. CIK: 68505 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000068505-19-000013
Period End Date 20190331
Filing Date 20190503
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance msi-20190330.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.25B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $886.00M USD Point-in-time
Restricted cash RestrictedCash $11.00M 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
Restricted cash RestrictedCash $11.00M USD Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.26B USD Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $858.00M USD Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 165.40M shares Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 164.00M shares Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $897.00M USD Point-in-time
Total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.27B USD Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 163.50M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.29B USD Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 164.80M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.15B USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $1.01B USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $878.00M USD Point-in-time
Inventories, net InventoryNet $425.00M USD Point-in-time
Inventories, net InventoryNet $356.00M USD Point-in-time
Other current assets OtherAssetsCurrent $364.00M USD Point-in-time
Other current assets OtherAssetsCurrent $354.00M USD Point-in-time
Total current assets AssetsCurrent $3.71B USD Point-in-time
Total current assets AssetsCurrent $4.27B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $937.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $895.00M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $593.00M USD Point-in-time
Investments LongTermInvestments $169.00M USD Point-in-time
Investments LongTermInvestments $163.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $953.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $985.00M USD Point-in-time
Goodwill Goodwill $1.86B USD Point-in-time
Goodwill Goodwill $1.51B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.42B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.23B USD Point-in-time
Other assets OtherAssetsNoncurrent $357.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $344.00M USD Point-in-time
Total assets Assets $9.41B USD Point-in-time
Total assets Assets $9.99B USD Point-in-time
Current portion of long-term debt DebtCurrent $31.00M USD Point-in-time
Current portion of long-term debt DebtCurrent $28.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $558.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $592.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.26B USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.16B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.21B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.24B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.98B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.10B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $5.29B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $5.29B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $553.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.26B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.30B USD Point-in-time
Common stock, $.01 par value: Authorized shares: 600.0; Issued shares: 3/30/19165.4; 12/31/18164.0; Outstanding shares: 3/30/19164.8; 12/31/18163.5 CommonStockValue $2.00M USD Point-in-time
Common stock, $.01 par value: Authorized shares: 600.0; Issued shares: 3/30/19165.4; 12/31/18164.0; Outstanding shares: 3/30/19164.8; 12/31/18163.5 CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $651.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $419.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $963.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.05B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.77B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.72B USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-1.11B USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-1.29B USD Point-in-time
Noncontrolling interests MinorityInterest $18.00M USD Point-in-time
Noncontrolling interests MinorityInterest $17.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.28B USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.09B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $9.41B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $9.99B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.47B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.66B USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $799.00M USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $884.00M USD 1 Quarter
Gross margin GrossProfit $773.00M USD 1 Quarter
Gross margin GrossProfit $669.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $279.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $327.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $162.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $152.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-55.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-67.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $229.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $171.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-55.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-46.00M USD 1 Quarter
Gains on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $11.00M USD 1 Quarter
Gains on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $1.00M USD 1 Quarter
Other OtherNonoperatingIncomeExpense $10.00M USD 1 Quarter
Other OtherNonoperatingIncomeExpense $4.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-31.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-44.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $185.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $140.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $23.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $33.00M USD 1 Quarter
Net earnings ProfitLoss $117.00M USD 1 Quarter
Net earnings ProfitLoss $152.00M USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $151.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $117.00M USD 1 Quarter
Basic (in US$ per share) EarningsPerShareBasic $0.92 USD 1 Quarter
Basic (in US$ per share) EarningsPerShareBasic $0.73 USD 1 Quarter
Diluted (in US$ per share) EarningsPerShareDiluted $0.69 USD 1 Quarter
Diluted (in US$ per share) EarningsPerShareDiluted $0.86 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 161.40M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 164.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 174.60M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 170.60M shares 1 Quarter
Dividends declared per share (in US$ per share) CommonStockDividendsPerShareDeclared $0.52 USD 1 Quarter
Dividends declared per share (in US$ per share) CommonStockDividendsPerShareDeclared $0.57 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $151.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $117.00M USD 1 Quarter
Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Net earnings ProfitLoss $117.00M USD 1 Quarter
Net earnings ProfitLoss $152.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $95.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $82.00M USD 1 Quarter
Non-cash other charges OtherNonCashChargesOrIncome $10.00M USD 1 Quarter
Non-cash other charges OtherNonCashChargesOrIncome $3.00M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $27.00M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $17.00M USD 1 Quarter
Gains on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $11.00M USD 1 Quarter
Gains on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $1.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-195.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-168.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $9.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $63.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $-2.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $-136.00M USD 1 Quarter
Accounts payable, accrued liabilities, and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-350.00M USD 1 Quarter
Accounts payable, accrued liabilities, and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-261.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $553.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $6.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $7.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-6.00M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $-500.00M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $251.00M USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $1.12B USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $368.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $2.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $77.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $41.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $66.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-1.09B USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-432.00M USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt $50.00M USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt $8.00M USD 1 Quarter
Net proceeds from issuance of debt ProceedsFromIssuanceOfDebt $1.30B USD 1 Quarter
Net proceeds from issuance of debt ProceedsFromIssuanceOfDebt - USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $45.00M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $53.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $145.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $66.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $93.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $84.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-201.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $1.15B USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $22.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $30.00M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-360.00M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-410.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.26B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $858.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $897.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.27B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.26B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $858.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $897.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.27B USD Point-in-time
Interest, net InterestPaidNet $55.00M USD 1 Quarter
Interest, net InterestPaidNet $72.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $23.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $36.00M USD 1 Quarter
Stockholders Equity 9 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.28B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.09B USD Point-in-time
Net earnings ProfitLoss $117.00M USD 1 Quarter
Net earnings ProfitLoss $152.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $54.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $41.00M USD 1 Quarter
Share repurchase program (in shares) StockRepurchasedAndRetiredDuringPeriodShares 1.20M shares 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.28B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-1.09B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $117.00M USD 1 Quarter
Net earnings ProfitLoss $152.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $48.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $30.00M USD 1 Quarter
Marketable securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Marketable securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-6.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-12.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-11.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $54.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $41.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $193.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $171.00M USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Comprehensive income attributable to Motorola Solutions, Inc. common shareholders ComprehensiveIncomeNetOfTax $192.00M USD 1 Quarter
Comprehensive income attributable to Motorola Solutions, Inc. common shareholders ComprehensiveIncomeNetOfTax $171.00M USD 1 Quarter

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

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