Motorola solutions, inc. (MSI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jul'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09Sep'08Jun'08
Net sales

1,655,000

2,376,000

1,994,000

1,860,000

1,657,000

2,253,000

1,862,000

1,760,000

1,468,000

1,957,000

1,645,000

1,497,000

1,281,000

1,883,000

1,532,000

1,430,000

1,193,000

1,682,000

1,422,000

1,368,000

1,223,000

1,824,000

1,436,000

1,393,000

1,228,000

1,240,000

1,517,000

1,497,000

1,973,000

12,000

2,153,000

2,148,000

1,956,000

-165,000

2,085,000

1,984,000

1,834,000

2,033,000

1,908,000

1,936,000

1,740,000

-8,257,000

4,336,000

5,497,000

5,371,000

7,480,000

8,082,000

Costs of sales

868,000

1,156,000

987,000

929,000

884,000

1,165,000

961,000

938,000

799,000

987,000

851,000

807,000

711,000

954,000

770,000

754,000

691,000

844,000

737,000

720,000

675,000

911,000

751,000

737,000

651,000

601,000

752,000

747,000

1,018,000

-62,000

1,066,000

1,088,000

983,000

-106,000

1,030,000

977,000

910,000

1,003,000

944,000

971,000

887,000

-7,089,000

2,897,000

3,787,000

3,875,000

5,677,000

5,757,000

Gross margin

787,000

1,220,000

1,007,000

931,000

773,000

1,088,000

901,000

822,000

669,000

970,000

794,000

690,000

570,000

929,000

762,000

676,000

502,000

838,000

685,000

648,000

548,000

913,000

685,000

656,000

577,000

639,000

765,000

750,000

955,000

74,000

1,087,000

1,060,000

973,000

-59,000

1,055,000

1,007,000

924,000

1,030,000

964,000

965,000

853,000

-1,168,000

1,439,000

1,710,000

1,496,000

1,803,000

2,325,000

Selling, general and administrative expenses

341,000

366,000

359,000

351,000

327,000

336,000

323,000

316,000

279,000

268,000

259,000

254,000

244,000

323,000

247,000

240,000

234,000

252,000

259,000

254,000

256,000

282,000

287,000

308,000

307,000

211,000

320,000

339,000

460,000

19,000

485,000

496,000

472,000

8,000

471,000

482,000

461,000

492,000

457,000

471,000

454,000

-747,000

718,000

822,000

869,000

1,044,000

1,115,000

Research and development expenditures

168,000

183,000

172,000

170,000

162,000

165,000

158,000

162,000

152,000

154,000

141,000

138,000

135,000

143,000

137,000

138,000

135,000

152,000

153,000

156,000

159,000

165,000

166,000

176,000

174,000

121,000

183,000

195,000

262,000

5,000

262,000

269,000

254,000

9,000

270,000

260,000

239,000

248,000

262,000

269,000

258,000

-1,250,000

621,000

775,000

847,000

999,000

1,048,000

Other charges

-19,000

-81,000

-63,000

-61,000

-55,000

-70,000

-126,000

-71,000

-67,000

-45,000

-47,000

-37,000

-18,000

-80,000

-37,000

-74,000

-33,000

96,000

-42,000

16,000

14,000

1,924,000

25,000

34,000

-11,000

25,000

16,000

13,000

17,000

-36,000

16,000

17,000

15,000

-92,000

60,000

106,000

55,000

31,000

34,000

64,000

21,000

-188,000

111,000

103,000

229,000

212,000

157,000

Operating earnings

259,000

590,000

413,000

349,000

229,000

517,000

294,000

273,000

171,000

503,000

347,000

261,000

173,000

383,000

341,000

224,000

100,000

390,000

231,000

254,000

119,000

-1,458,000

207,000

138,000

107,000

282,000

246,000

203,000

216,000

86,000

324,000

278,000

232,000

16,000

254,000

159,000

169,000

259,000

211,000

161,000

120,000

1,017,000

-11,000

10,000

-449,000

-452,000

5,000

Other income (expense):
Interest expense, net

-52,000

-55,000

-54,000

-56,000

-55,000

-59,000

-59,000

-58,000

-46,000

-47,000

-52,000

-51,000

-51,000

-48,000

-54,000

-54,000

-49,000

-51,000

-43,000

-39,000

-40,000

-41,000

-31,000

-29,000

-25,000

-27,000

-29,000

-32,000

-25,000

-20,000

-16,000

-16,000

-14,000

-15,000

-18,000

-21,000

-20,000

-32,000

-29,000

-35,000

-33,000

-19,000

-49,000

-30,000

-35,000

18,000

-10,000

Gains on sales of investments and businesses, net

0

1,000

0

3,000

1,000

0

6,000

-1,000

11,000

1,000

0

-1,000

3,000

7,000

7,000

1,000

-21,000

47,000

10,000

4,000

46,000

1,000

1,000

-4,000

7,000

4,000

26,000

0

7,000

-13,000

19,000

3,000

17,000

2,000

2,000

1,000

18,000

5,000

4,000

33,000

7,000

77,000

21,000

30,000

-20,000

7,000

39,000

Other, net

17,000

-343,000

-11,000

-21,000

10,000

7,000

29,000

13,000

4,000

8,000

-9,000

-4,000

-5,000

20,000

-1,000

-4,000

-8,000

-9,000

-1,000

-4,000

3,000

-1,000

-26,000

-7,000

0

-3,000

8,000

-3,000

7,000

20,000

-3,000

-25,000

9,000

7,000

0

-78,000

5,000

2,000

6,000

-30,000

15,000

64,000

-66,000

23,000

70,000

-167,000

-92,000

Total other expense

-35,000

-397,000

-65,000

-74,000

-44,000

-52,000

-24,000

-46,000

-31,000

-38,000

-61,000

-56,000

-53,000

-21,000

-48,000

-57,000

-78,000

-13,000

-34,000

-39,000

9,000

-41,000

-56,000

-40,000

-18,000

-26,000

5,000

-35,000

-11,000

-13,000

0

-38,000

12,000

-6,000

-16,000

-98,000

3,000

-25,000

-19,000

-32,000

-11,000

122,000

-94,000

23,000

15,000

-142,000

-63,000

Net earnings before income taxes

224,000

193,000

348,000

275,000

185,000

465,000

270,000

227,000

140,000

465,000

286,000

205,000

120,000

362,000

293,000

167,000

22,000

377,000

197,000

215,000

128,000

-1,499,000

151,000

98,000

89,000

256,000

251,000

168,000

205,000

73,000

324,000

240,000

244,000

10,000

238,000

61,000

172,000

234,000

192,000

129,000

109,000

1,139,000

-105,000

33,000

-434,000

-594,000

-58,000

Income tax expense

26,000

-50,000

80,000

67,000

33,000

42,000

22,000

46,000

23,000

1,039,000

73,000

73,000

42,000

118,000

100,000

59,000

5,000

99,000

71,000

64,000

40,000

-573,000

84,000

20,000

4,000

-2,000

-11,000

-59,000

13,000

-55,000

118,000

63,000

85,000

-2,000

83,000

13,000

-189,000

65,000

203,000

122,000

13,000

361,000

-25,000

-2,000

-146,000

-203,000

-55,000

Earnings (loss) from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

278,000

126,000

151,000

88,000

-926,000

67,000

78,000

85,000

-

262,000

227,000

-

128,000

206,000

177,000

159,000

12,000

155,000

48,000

361,000

169,000

-11,000

7,000

96,000

778,000

-80,000

35,000

-288,000

-391,000

-3,000

Loss from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,000

-11,000

-8,000

-13,000

1,127,000

81,000

746,000

42,000

-

46,000

35,000

-

208,000

0

5,000

-2,000

172,000

-25,000

299,000

130,000

135,000

123,000

159,000

-28,000

-635,000

102,000

0

60,000

0

0

Net earnings

198,000

243,000

268,000

208,000

152,000

423,000

248,000

181,000

117,000

-574,000

213,000

132,000

78,000

244,000

193,000

108,000

17,000

280,000

115,000

143,000

75,000

201,000

148,000

824,000

127,000

343,000

308,000

262,000

192,000

-

206,000

182,000

-

184,000

130,000

347,000

491,000

304,000

112,000

166,000

68,000

143,000

22,000

35,000

-228,000

-391,000

-3,000

Less: Earnings attributable to non-controlling interests

1,000

0

1,000

1,000

1,000

1,000

1,000

1,000

0

1,000

1,000

1,000

1,000

0

1,000

1,000

0

1,000

0

1,000

1,000

0

1,000

0

0

-

1,000

-4,000

-

-

0

0

-

0

2,000

-2,000

-6,000

12,000

2,000

4,000

-1,000

1,000

10,000

9,000

3,000

6,000

-7,000

Net earnings attributable to Motorola Solutions, Inc.

197,000

243,000

267,000

207,000

151,000

422,000

247,000

180,000

117,000

-575,000

212,000

131,000

77,000

244,000

192,000

107,000

17,000

279,000

115,000

142,000

74,000

201,000

147,000

824,000

127,000

-

307,000

258,000

-

336,000

206,000

182,000

157,000

184,000

128,000

349,000

497,000

292,000

110,000

162,000

69,000

142,000

12,000

26,000

-231,000

-397,000

4,000

Earnings (loss) from continuing operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

277,000

126,000

150,000

87,000

-926,000

66,000

78,000

85,000

-

261,000

223,000

-

128,000

206,000

177,000

159,000

12,000

153,000

50,000

367,000

157,000

-13,000

3,000

97,000

777,000

-90,000

26,000

-291,000

-397,000

4,000

Loss from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,000

-11,000

-8,000

-13,000

1,127,000

81,000

746,000

42,000

-

46,000

35,000

-

208,000

0

5,000

-2,000

172,000

-25,000

299,000

130,000

135,000

123,000

159,000

-28,000

-635,000

102,000

0

60,000

0

0

Net earnings (loss) attributable to Motorola Solutions, Inc.

197,000

243,000

267,000

207,000

151,000

422,000

247,000

180,000

117,000

-575,000

212,000

131,000

77,000

244,000

192,000

107,000

17,000

279,000

115,000

142,000

74,000

201,000

147,000

824,000

127,000

-

307,000

258,000

-

336,000

206,000

182,000

157,000

184,000

128,000

349,000

497,000

292,000

110,000

162,000

69,000

142,000

12,000

26,000

-231,000

-397,000

4,000

Earnings per common share:
Diluted (US$ per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1.46

0.63

0.72

0.40

-3.75

0.27

0.31

0.33

-

1.00

0.83

-

0.44

0.73

0.61

0.51

0.04

0.46

0.15

1.09

0.47

-0.04

0.01

0.29

1.45

-0.04

0.01

-0.13

-0.18

0.00

Discontinued operations (US$ per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

-0.05

-0.04

-0.06

4.69

0.33

2.94

0.17

-

0.17

0.13

-

0.72

0.00

0.02

-0.01

0.56

-0.08

0.87

0.38

0.40

0.37

0.48

-0.08

-1.53

0.05

0.00

0.03

0.00

0.00

Basic (in US$ per share)

1.15

1.44

1.60

1.25

0.92

2.59

1.52

1.11

0.73

-3.52

1.30

0.80

0.47

-

1.15

0.62

0.10

1.46

0.58

0.68

0.34

0.94

0.60

3.25

0.50

1.30

1.17

0.96

0.70

1.16

0.73

0.63

0.50

0.60

0.38

1.02

1.47

0.87

0.33

0.49

0.21

-0.08

0.01

0.01

-0.10

-0.18

0.00

Basic (US$ per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1.42

0.63

0.72

0.40

-3.74

0.27

0.30

0.33

-

0.98

0.81

-

0.43

0.72

0.60

0.50

0.05

0.45

0.14

1.07

0.46

-0.04

0.01

0.29

1.44

-0.04

0.01

-0.13

-0.18

0.00

Discontinued operations (US$ per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

-0.06

-0.04

-0.06

4.73

0.32

2.92

0.16

-

0.18

0.13

-

0.71

0.00

0.01

-0.01

0.54

-0.07

0.86

0.37

0.39

0.37

0.47

-0.08

-1.51

0.05

0.00

0.03

0.00

0.00

Diluted (in US$ per share)

1.12

1.40

1.51

1.18

0.86

2.45

1.43

1.05

0.69

-3.43

1.25

0.78

0.45

-

1.13

0.61

0.10

1.43

0.57

0.68

0.34

0.99

0.59

3.22

0.49

1.28

1.16

0.94

0.68

1.14

0.72

0.61

0.49

0.59

0.38

1.00

1.44

0.85

0.33

0.48

0.21

-0.07

0.01

0.01

-0.10

-0.18

0.00

Weighted average common shares outstanding:
Basic (in shares)

170,600

170,800

166,700

164,900

164,000

163,400

162,600

162,200

161,400

162,000

162,300

163,100

164,200

165,700

166,300

171,900

174,500

175,900

199,200

208,000

215,300

228,300

246,300

253,700

254,100

257,800

262,200

269,500

274,500

283,400

283,100

290,600

311,300

321,200

335,400

341,200

337,400

335,600

334,100

332,700

330,800

-5,562,400

2,299,600

2,293,900

2,280,500

2,265,900

2,262,600

Diluted (in shares)

175,900

175,300

176,400

176,100

174,600

173,100

172,600

171,700

170,600

143,700

169,000

169,000

169,900

171,000

169,600

174,800

177,000

178,600

201,300

209,500

217,800

219,700

248,200

256,200

258,300

261,300

265,300

274,700

280,700

288,400

287,400

296,100

317,700

326,600

339,500

348,500

344,200

345,900

334,100

337,900

334,500

-5,566,900

2,299,600

2,306,400

2,280,500

2,265,900

2,269,500

Dividends declared (in USD per share)

0.64

-

-

-

0.57

-

-

-

0.52

0.52

0.47

0.47

0.47

0.47

0.41

0.41

0.41

0.41

0.34

0.34

0.34

0.34

0.34

0.31

0.31

0.31

0.31

0.26

0.26

0.26

0.26

0.22

0.22

0.22

0.00

0.00

0.00

-

-

-

-

0.30

0.00

0.00

0.05

-

-

Products
Net sales

884,000

1,487,000

1,196,000

1,118,000

945,000

1,469,000

1,151,000

1,042,000

801,000

1,232,000

989,000

848,000

703,000

1,226,000

920,000

801,000

702,000

1,126,000

925,000

867,000

758,000

1,247,000

921,000

887,000

752,000

744,000

998,000

986,000

1,381,000

-338,000

1,567,000

1,563,000

1,444,000

-478,000

1,552,000

1,453,000

1,374,000

1,474,000

1,413,000

1,438,000

1,291,000

-

-

-

-

-

-

Costs of sales

397,000

614,000

501,000

490,000

444,000

651,000

516,000

485,000

383,000

519,000

428,000

392,000

347,000

524,000

398,000

361,000

366,000

486,000

395,000

385,000

359,000

514,000

414,000

400,000

350,000

299,000

423,000

435,000

651,000

-257,000

682,000

712,000

658,000

-251,000

679,000

645,000

624,000

649,000

624,000

656,000

594,000

-

-

-

-

-

-

Services
Net sales

771,000

889,000

798,000

742,000

712,000

784,000

711,000

718,000

667,000

725,000

656,000

649,000

578,000

657,000

612,000

629,000

491,000

556,000

497,000

501,000

465,000

577,000

515,000

506,000

476,000

496,000

519,000

511,000

592,000

350,000

586,000

585,000

512,000

313,000

533,000

531,000

460,000

559,000

495,000

498,000

449,000

-

-

-

-

-

-

Costs of sales

471,000

542,000

486,000

439,000

440,000

514,000

445,000

453,000

416,000

468,000

423,000

415,000

364,000

430,000

372,000

393,000

325,000

358,000

342,000

335,000

316,000

397,000

337,000

337,000

301,000

302,000

329,000

312,000

367,000

195,000

384,000

376,000

325,000

145,000

351,000

332,000

286,000

354,000

320,000

315,000

293,000

-

-

-

-

-

-