Discontinued Operations

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On April 14, 2014, the Company entered into a Master Acquisition Agreement (the “Acquisition Agreement”) with Zebra Technologies Corporation ("Zebra") to sell the Company’s Enterprise business for $3.5 billion in cash. The transaction closed on October 27, 2014. The historical financial results of the Enterprise business, excluding those assets and liabilities retained in the transaction, are reflected in the Company's consolidated financial statements and footnotes as discontinued operations for all periods presented.

On January 1, 2012, the Company completed a series of transactions which resulted in exiting the amateur, marine and airband radio businesses.  The operating results of the amateur, marine and airband radio businesses are reported as discontinued operations in the consolidated statements of operations for the year ended December 31, 2012. 

The following table displays summarized activity in the Company’s consolidated statements of operations for discontinued operations during the years ended December 31, 2014, 2013, and 2012.

Years ended December 31	2014		2013		2012
Net sales	$	1,904	$	2,469	$	2,429
Operating earnings	203		268		347
Gains on sales of investments and businesses, net	1,888		3		7
Earnings before income taxes	2,074		266		341
Income tax expense	78		100		130
Earnings from discontinued operations, net of tax	1,996		166		211

The following table displays a summary of the assets and liabilities held for sale as of December 31, 2013:

	2013
Assets
Accounts receivable, net	$	551
Deferred income taxes	219
Inventories, net	175
Other current assets	134
Property, plant and equipment, net	201
Investments	19
Goodwill	1,149
Other assets	94
	$	2,542
Liabilities
Accounts payable	$	231
Accrued liabilities	639
Other liabilities	171
	$	1,041