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10-Q Filing

MOTOROLA SOLUTIONS, INC. CIK: 68505 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000068505-23-000026
Period End Date 20230331
Filing Date 20230504
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance msi-20230401_htm.xml
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Preferred stock par value (in USD per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Preferred stock par value (in USD per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.02B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.32B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.52B USD Point-in-time
Preferred stock authorized (in shares) PreferredStockSharesAuthorized 500,000.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.34B USD Point-in-time
Preferred stock authorized (in shares) PreferredStockSharesAuthorized 500,000.00 shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $974.00M USD Point-in-time
Preferred stock issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $1.02B USD Point-in-time
Preferred stock issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Inventories, net InventoryNet $1.05B USD Point-in-time
Inventories, net InventoryNet $1.08B 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
Other current assets OtherAssetsCurrent $383.00M USD Point-in-time
Common stock par value (in USD per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Other current assets OtherAssetsCurrent $358.00M USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Total current assets AssetsCurrent $5.25B USD Point-in-time
Total current assets AssetsCurrent $4.83B USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 600.00M shares Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 168.90M shares Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $927.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $927.00M USD Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 168.50M shares Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 167.50M shares Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 167.70M shares Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $485.00M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $472.00M USD Point-in-time
Investments LongTermInvestments $147.00M USD Point-in-time
Investments LongTermInvestments $144.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $1.04B USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $1.07B USD Point-in-time
Goodwill Goodwill $3.31B USD Point-in-time
Goodwill Goodwill $3.29B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.30B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.34B USD Point-in-time
Other assets OtherAssetsNoncurrent $322.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $310.00M USD Point-in-time
Total assets Assets $12.35B USD Point-in-time
Total assets Assets $12.81B USD Point-in-time
Current portion of long-term debt DebtCurrent $1.00M USD Point-in-time
Current portion of long-term debt DebtCurrent $1.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.06B USD Point-in-time
Accounts payable AccountsPayableCurrent $719.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.79B USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $1.86B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.45B USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.64B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.97B USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.56B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $6.01B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $6.01B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $398.00M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $419.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.69B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.73B 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: CommonStockValue $2.00M USD Point-in-time
Common stock, $0.01 par value: CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.39B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.31B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.34B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.33B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.54B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.49B USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity StockholdersEquity $116.00M USD Point-in-time
Total Motorola Solutions, Inc. stockholders equity StockholdersEquity $234.00M USD Point-in-time
Non-controlling interests MinorityInterest $15.00M USD Point-in-time
Non-controlling interests MinorityInterest $15.00M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $249.00M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $131.00M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $12.35B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $12.81B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $2.17B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.89B USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $1.12B USD 1 Quarter
Costs of sales CostOfGoodsAndServicesSold $1.03B USD 1 Quarter
Gross margin GrossProfit $1.05B USD 1 Quarter
Gross margin GrossProfit $857.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $368.00M 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 $210.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-69.00M USD 1 Quarter
Other charges OtherOperatingIncomeExpenseNet $-92.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $399.00M 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 $1.00M USD 1 Quarter
Gain on sales of investments and businesses, net GainLossOnSalesOfInvestmentsAndBusinessesNet $2.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $34.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $12.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-41.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-20.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $358.00M USD 1 Quarter
Net earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $219.00M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-49.00M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $79.00M USD 1 Quarter
Net earnings ProfitLoss $279.00M USD 1 Quarter
Net earnings ProfitLoss $268.00M 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 $267.00M USD 1 Quarter
Net earnings attributable to Motorola Solutions, Inc. NetIncomeLoss $278.00M USD 1 Quarter
Basic (in USD per share) EarningsPerShareBasic $1.66 USD 1 Quarter
Basic (in USD per share) EarningsPerShareBasic $1.59 USD 1 Quarter
Diluted (in USD per share) EarningsPerShareDiluted $1.61 USD 1 Quarter
Diluted (in USD per share) EarningsPerShareDiluted $1.54 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 167.40M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 168.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 172.60M 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 $279.00M USD 1 Quarter
Net earnings ProfitLoss $268.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $111.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $98.00M USD 1 Quarter
Non-cash other charges OtherNonCashChargesOrIncome $2.00M USD 1 Quarter
Non-cash other charges OtherNonCashChargesOrIncome $7.00M USD 1 Quarter
Share-based compensation expenses ShareBasedCompensation $37.00M USD 1 Quarter
Share-based compensation expenses ShareBasedCompensation $55.00M 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 $2.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-179.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseinAccountsReceivableContractAssetsAndContractLiabilities $-248.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $26.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $162.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $40.00M USD 1 Quarter
Other current assets and contract assets IncreaseDecreaseInOtherOperatingAssets $-47.00M USD 1 Quarter
Accounts payable, accrued liabilities and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-536.00M USD 1 Quarter
Accounts payable, accrued liabilities and contract liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAndContractWithCustomerLiability $-188.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $30.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $5.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-179.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-18.00M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $-8.00M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $152.00M USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $512.00M USD 1 Quarter
Acquisitions and investments, net PaymentsForAcquisitionsAndInvestmentsNet $4.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $5.00M USD 1 Quarter
Proceeds from sales of investments and businesses, net ProceedsFromSalesOfInvestmentsAndBusinessesNet $9.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $54.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $54.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-53.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-557.00M USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt - USD 1 Quarter
Repayments of debt RepaymentsOfLongTermDebt $2.00M USD 1 Quarter
Issuances of common stock ProceedsFromIssuanceOfCommonStock $52.00M USD 1 Quarter
Issuances of common stock ProceedsFromIssuanceOfCommonStock $26.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $140.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $493.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $134.00M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $148.00M USD 1 Quarter
Payments of dividends to non-controlling interests PaymentsOfDividendsMinorityInterest $1.00M USD 1 Quarter
Payments of dividends to non-controlling interests PaymentsOfDividendsMinorityInterest - USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-577.00M USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-263.00M USD 1 Quarter
Effect of exchange rate changes on total cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-14.00M USD 1 Quarter
Effect of exchange rate changes on total cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.00M USD 1 Quarter
Net decrease in total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-996.00M USD 1 Quarter
Net decrease in total cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-303.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.32B USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.02B 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 $878.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.32B USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.02B 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 $878.00M USD Point-in-time
Interest paid InterestPaidNet $47.00M 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 $100.00M 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 $0.88 USD 1 Quarter
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $249.00M USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $131.00M USD Point-in-time
Net earnings ProfitLoss $279.00M USD 1 Quarter
Net earnings ProfitLoss $268.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $48.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-5.00M USD 1 Quarter
Share repurchase program (in shares) StockRepurchasedAndRetiredDuringPeriodShares 500,000.00 shares 1 Quarter
Share repurchase program StockRepurchasedAndRetiredDuringPeriodValue $140.00M USD 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $249.00M USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $131.00M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $279.00M USD 1 Quarter
Net earnings ProfitLoss $268.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-20.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $36.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-15.00M USD 1 Quarter
Defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-12.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $48.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-5.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $263.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $327.00M 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 $326.00M USD 1 Quarter

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

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