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10-Q Filing

MOTOROLA SOLUTIONS, INC. CIK: 68505 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000068505-22-000019
Period End Date 20220331
Filing Date 20220512
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance msi-20220402_htm.xml
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.87B USD Point-in-time
Preferred stock par value (in USD per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $878.00M USD Point-in-time
Preferred stock par value (in USD per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Preferred stock authorized (in shares) PreferredStockSharesAuthorized 500,000.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.39B USD Point-in-time
Preferred stock authorized (in shares) PreferredStockSharesAuthorized 500,000.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.15B USD Point-in-time
Preferred stock issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $999.00M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $1.10B USD Point-in-time
Preferred stock issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Inventories, net InventoryNet $952.00M USD Point-in-time
Inventories, net InventoryNet $788.00M USD Point-in-time
Preferred stock outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Common stock par value (in USD per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock par value (in USD per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Other current assets OtherAssetsCurrent $259.00M USD Point-in-time
Other current assets OtherAssetsCurrent $300.00M USD Point-in-time
Total current assets AssetsCurrent $4.28B USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Total current assets AssetsCurrent $5.41B USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 169.60M shares Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $1.08B USD Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 168.60M shares Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $1.04B USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $382.00M USD Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 168.70M shares Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 167.60M shares Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $387.00M USD Point-in-time
Investments LongTermInvestments $209.00M USD Point-in-time
Investments LongTermInvestments $183.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $999.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $916.00M USD Point-in-time
Goodwill Goodwill $2.56B USD Point-in-time
Goodwill Goodwill $2.86B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.30B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.10B USD Point-in-time
Other assets OtherAssetsNoncurrent $558.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $552.00M USD Point-in-time
Total assets Assets $11.65B USD Point-in-time
Total assets Assets $12.19B USD Point-in-time
Current portion of long-term debt DebtCurrent $4.00M USD Point-in-time
Current portion of long-term debt DebtCurrent $5.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $851.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $827.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.59B USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.65B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.56B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.47B USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.06B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.89B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $5.69B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $5.69B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $320.00M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $313.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.15B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.05B USD Point-in-time
Preferred stock, $100 par value: 0.5 shares authorized; none issued and outstanding PreferredStockValue - USD Point-in-time
Preferred stock, $100 par value: 0.5 shares authorized; none issued and outstanding PreferredStockValue - USD Point-in-time
Common stock, $0.01 par value. Authorized shares: 600.0, Issued shares: 4/2/22168.6; 12/31/21169.6; Outstanding shares: 4/2/22167.6; 12/31/21168.7 CommonStockValue $2.00M USD Point-in-time
Common stock, $0.01 par value. Authorized shares: 600.0, Issued shares: 4/2/22168.6; 12/31/21169.6; Outstanding shares: 4/2/22167.6; 12/31/21168.7 CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.06B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $987.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.35B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.00B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.38B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.38B USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-40.00M USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity (deficit) StockholdersEquity $-316.00M USD Point-in-time
Non-controlling interests MinorityInterest $18.00M USD Point-in-time
Non-controlling interests MinorityInterest $17.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-23.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-298.00M USD Point-in-time
Total liabilities and stockholders equity (deficit) LiabilitiesAndStockholdersEquity $12.19B USD Point-in-time
Total liabilities and stockholders equity (deficit) LiabilitiesAndStockholdersEquity $11.65B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.89B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.77B USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $1.03B USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $913.00M USD 1 Quarter
Gross margin GrossProfit $860.00M USD 1 Quarter
Gross margin GrossProfit $857.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $303.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $338.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $188.00M USD 1 Quarter
Research and development expenditures ResearchAndDevelopmentExpense $180.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-92.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-79.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $298.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $239.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-54.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-56.00M USD 1 Quarter
Gain on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $2.00M USD 1 Quarter
Gain on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet - USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $45.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $34.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-9.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-20.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $219.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $289.00M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $44.00M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-49.00M USD 1 Quarter
Net earnings ProfitLoss $268.00M USD 1 Quarter
Net earnings ProfitLoss $245.00M 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 $244.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $267.00M USD 1 Quarter
Basic (in USD per share) EarningsPerShareBasic $1.44 USD 1 Quarter
Basic (in USD per share) EarningsPerShareBasic $1.59 USD 1 Quarter
Diluted (in USD per share) EarningsPerShareDiluted $1.41 USD 1 Quarter
Diluted (in USD per share) EarningsPerShareDiluted $1.54 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 169.30M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 168.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 173.20M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 173.10M shares 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $268.00M USD 1 Quarter
Net earnings ProfitLoss $245.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $111.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $110.00M USD 1 Quarter
Non-cash other charges (income) OtherNonCashChargesOrIncome $2.00M USD 1 Quarter
Non-cash other charges (income) OtherNonCashChargesOrIncome $-7.00M USD 1 Quarter
Share-based compensation expenses ShareBasedCompensation $37.00M USD 1 Quarter
Share-based compensation expenses ShareBasedCompensation $29.00M USD 1 Quarter
Gain on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $2.00M USD 1 Quarter
Gain on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet - USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-248.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-298.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $162.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $24.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $-149.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $-47.00M USD 1 Quarter
Accounts payable, accrued liabilities, and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-426.00M USD 1 Quarter
Accounts payable, accrued liabilities, and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-188.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $5.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $30.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-179.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $152.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $370.00M USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $512.00M USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $2.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $9.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $2.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $54.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $52.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-557.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-52.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $2.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $3.00M USD 1 Quarter
Revolving credit facility renewal fees PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Revolving credit facility renewal fees PaymentsOfDebtIssuanceCosts $7.00M USD 1 Quarter
Issuances of common stock ProceedsFromIssuanceOfCommonStock $52.00M USD 1 Quarter
Issuances of common stock ProceedsFromIssuanceOfCommonStock $45.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $493.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $170.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $121.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $134.00M USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-577.00M USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-256.00M USD 1 Quarter
Effect of exchange rate changes on total cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.00M USD 1 Quarter
Effect of exchange rate changes on total cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-14.00M USD 1 Quarter
Net increase (decrease) in total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $66.00M USD 1 Quarter
Net increase (decrease) in total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-996.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $878.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.87B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.25B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.32B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $878.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.87B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.25B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.32B USD Point-in-time
Interest paid InterestPaidNet $59.00M USD 1 Quarter
Interest paid InterestPaidNet $53.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $33.00M USD 1 Quarter
Income and withholding taxes, net of refunds IncomeTaxesPaidNet $78.00M USD 1 Quarter
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Dividends declared per share (in USD per share) CommonStockDividendsPerShareDeclared $0.79 USD 1 Quarter
Dividends declared per share (in USD per share) CommonStockDividendsPerShareDeclared $0.71 USD 1 Quarter
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-23.00M USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-298.00M USD Point-in-time
Net earnings ProfitLoss $268.00M USD 1 Quarter
Net earnings ProfitLoss $245.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $36.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-5.00M USD 1 Quarter
Share repurchase program (in shares) StockRepurchasedAndRetiredDuringPeriodShares 2.20M shares 1 Quarter
Share repurchase program StockRepurchasedAndRetiredDuringPeriodValue $493.00M USD 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-23.00M USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-298.00M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $268.00M USD 1 Quarter
Net earnings ProfitLoss $245.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $19.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-20.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-15.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-17.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $36.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-5.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $281.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $263.00M 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 $262.00M USD 1 Quarter
Comprehensive income attributable to Motorola Solutions, Inc. common shareholders ComprehensiveIncomeNetOfTax $280.00M USD 1 Quarter

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

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