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10-Q Filing

MOTOROLA SOLUTIONS, INC. CIK: 68505 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000068505-20-000013
Period End Date 20200331
Filing Date 20200508
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance msi-20200328_htm.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.00B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.67B USD Point-in-time
Preferred stock par value (in US$ per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Preferred stock par value (in US$ per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Common stock par value (in US$ per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.12B USD Point-in-time
Common stock par value (in US$ per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.41B USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $1.05B USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $958.00M USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Inventories, net InventoryNet $447.00M USD Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 171.00M shares Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 170.70M shares Point-in-time
Inventories, net InventoryNet $442.00M USD Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 170.50M shares Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 170.00M shares Point-in-time
Other current assets OtherAssetsCurrent $272.00M USD Point-in-time
Other current assets OtherAssetsCurrent $287.00M USD Point-in-time
Total current assets AssetsCurrent $4.18B USD Point-in-time
Total current assets AssetsCurrent $4.48B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $992.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $932.00M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $521.00M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $554.00M USD Point-in-time
Investments LongTermInvestments $154.00M USD Point-in-time
Investments LongTermInvestments $159.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $918.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $943.00M USD Point-in-time
Goodwill Goodwill $2.07B USD Point-in-time
Goodwill Goodwill $2.08B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.33B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.24B USD Point-in-time
Other assets OtherAssetsNoncurrent $422.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $393.00M USD Point-in-time
Total assets Assets $10.64B USD Point-in-time
Total assets Assets $10.72B USD Point-in-time
Current portion of long-term debt DebtCurrent $16.00M USD Point-in-time
Current portion of long-term debt DebtCurrent $814.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $531.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $618.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.45B USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.28B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.26B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.36B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.44B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.88B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $5.11B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $5.11B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $497.00M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $458.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.28B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.20B 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 CommonStockValue $2.00M USD Point-in-time
Common stock, $.01 par value CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $499.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $542.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.24B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.07B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.57B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.44B USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-948.00M USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-700.00M USD Point-in-time
Non-controlling interests MinorityInterest $17.00M USD Point-in-time
Non-controlling interests MinorityInterest $18.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-930.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-683.00M USD Point-in-time
Total liabilities and stockholders equity (deficit) LiabilitiesAndStockholdersEquity $10.72B USD Point-in-time
Total liabilities and stockholders equity (deficit) LiabilitiesAndStockholdersEquity $10.64B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.66B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.66B USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $884.00M USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $868.00M USD 1 Quarter
Gross margin GrossProfit $773.00M USD 1 Quarter
Gross margin GrossProfit $787.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $341.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $327.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $168.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $162.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-55.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-19.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $229.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $259.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-52.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-55.00M USD 1 Quarter
Gains on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $1.00M USD 1 Quarter
Gains on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet - USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $17.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $10.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-44.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-35.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $185.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $224.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $26.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $33.00M USD 1 Quarter
Net earnings ProfitLoss $152.00M USD 1 Quarter
Net earnings ProfitLoss $198.00M USD 1 Quarter
Less: Earnings attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Earnings attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $197.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $151.00M USD 1 Quarter
Basic (in US$ per share) EarningsPerShareBasic $1.15 USD 1 Quarter
Basic (in US$ per share) EarningsPerShareBasic $0.92 USD 1 Quarter
Diluted (in US$ per share) EarningsPerShareDiluted $0.86 USD 1 Quarter
Diluted (in US$ per share) EarningsPerShareDiluted $1.12 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 170.60M 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 175.90M shares 1 Quarter
Dividends declared (in USD per share) CommonStockDividendsPerShareDeclared $0.64 USD 1 Quarter
Dividends declared (in USD per share) CommonStockDividendsPerShareDeclared $0.57 USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $197.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $151.00M USD 1 Quarter
Earnings attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Earnings attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Net earnings ProfitLoss $152.00M USD 1 Quarter
Net earnings ProfitLoss $198.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $95.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $99.00M USD 1 Quarter
Non-cash other charges (income) OtherNonCashChargesOrIncome $-51.00M USD 1 Quarter
Non-cash other charges (income) OtherNonCashChargesOrIncome $10.00M USD 1 Quarter
Share-based compensation expenses ShareBasedCompensation $38.00M USD 1 Quarter
Share-based compensation expenses ShareBasedCompensation $27.00M USD 1 Quarter
Gain on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $1.00M USD 1 Quarter
Gain on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet - USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-275.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-168.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $63.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-2.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $-48.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $-136.00M USD 1 Quarter
Accounts payable, accrued liabilities, and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-261.00M USD 1 Quarter
Accounts payable, accrued liabilities, and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-301.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $6.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $4.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $4.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-6.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $308.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $251.00M USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $36.00M 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 $2.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $48.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $66.00M USD 1 Quarter
Proceeds from sales of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $56.00M USD 1 Quarter
Proceeds from sales of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-26.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-432.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $8.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $4.00M USD 1 Quarter
Net proceeds from revolver draw ProceedsFromIssuanceOfDebt - USD 1 Quarter
Net proceeds from revolver draw ProceedsFromIssuanceOfDebt $800.00M USD 1 Quarter
Issuances of common stock ProceedsFromIssuanceOfCommonStock $5.00M USD 1 Quarter
Issuances of common stock ProceedsFromIssuanceOfCommonStock $45.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $145.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $253.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $93.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $109.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $439.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-201.00M USD 1 Quarter
Effect of exchange rate changes on total cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $22.00M USD 1 Quarter
Effect of exchange rate changes on total cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-50.00M USD 1 Quarter
Net increase (decrease) in total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-360.00M USD 1 Quarter
Net increase (decrease) in total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $671.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.67B 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 $1.00B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.26B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.67B 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 $1.00B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.26B USD Point-in-time
Interest paid InterestPaidNet $61.00M USD 1 Quarter
Interest paid InterestPaidNet $72.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $22.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $23.00M USD 1 Quarter
Stockholders Equity 11 line items
Line Item Tag Value Unit Period
Dividends declared (in USD per share) CommonStockDividendsPerShareDeclared $0.64 USD 1 Quarter
Dividends declared (in USD per share) CommonStockDividendsPerShareDeclared $0.57 USD 1 Quarter
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-930.00M USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-683.00M USD Point-in-time
Net earnings ProfitLoss $152.00M USD 1 Quarter
Net earnings ProfitLoss $198.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-126.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $41.00M USD 1 Quarter
Share repurchase program (in shares) StockRepurchasedAndRetiredDuringPeriodShares 1.60M shares 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-930.00M USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-683.00M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $152.00M USD 1 Quarter
Net earnings ProfitLoss $198.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $30.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-138.00M 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 $-126.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $41.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $72.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $193.00M USD 1 Quarter
Less: Earnings attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Earnings attributable to non-controlling 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 $71.00M USD 1 Quarter

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

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