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Other Financial Data
 6 Months Ended
Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Data Other Financial Data
Statements of Operations Information
Other Charges (Income)
Other charges (income) included in Operating earnings consist of the following:
 Three Months EndedSix Months Ended
  
June 27, 2020June 29, 2019June 27, 2020June 29, 2019
Other charges:
Intangibles amortization (Note 15)$51  $52  $104  $102  
Reorganization of business (Note 14)26  8  38  12  
Loss on legal settlements7  1  9  —  
Fixed asset impairment5  —  5  —  
Gain on sale of property, plant and equipment—  —  (50) —  
Acquisition-related transaction fees1  —  3  2  
 $90  $61  $109  $116  
During the six months ended June 27, 2020, the Company recorded a $50 million gain on the sale of a manufacturing facility in Europe. This gain has been recognized in Other charges in the Company's Condensed Consolidated Statements of Operations.
Other Income (Expense)
Interest expense, net, and Other, net, both included in Other income (expense), consist of the following: 
 Three Months EndedSix Months Ended
  
June 27, 2020June 29, 2019June 27, 2020June 29, 2019
Interest income (expense), net:
Interest expense$(60) $(59) $(114) $(119) 
Interest income2  3  5  8  
$(58) $(56) $(109) $(111) 
Other, net:
Net periodic pension and postretirement benefit (Note 8)$19  $17  $39  $33  
Loss from the extinguishment of long-term debt (Note 5)—  (43) —  (43) 
Investment impairments—  (3) —  (11) 
Foreign currency loss(21) (7) (3) (11) 
Gain (loss) on derivative instruments12  (3) (4) (7) 
Gain on equity method investments—  —  —  1  
Fair value adjustments to equity investments4  16  5  15  
Other2  2  (3) 11  
 $16  $(21) $34  $(12) 
During the three and six months ended June 29, 2019, the Company recorded investment impairment charges of $3 million and $11 million, representing other-than-temporary declines in the value in the Company's strategic investment portfolio. Investment impairment charges are included in Other within Other income (expense) in the Company’s Condensed Consolidated Statements of Operations.
Earnings Per Common Share
The computation of basic and diluted earnings per common share is as follows:
Amounts attributable to Motorola Solutions, Inc. common stockholders
 Three Months EndedSix Months Ended
June 27, 2020June 29, 2019June 27, 2020June 29, 2019
Basic earnings per common share:
Earnings$135  $207  $332  $358  
Weighted average common shares outstanding170.0  164.9  170.3  164.4  
Per share amount$0.79  $1.25  $1.95  $2.18  
Diluted earnings per common share:
Earnings$135  $207  $332  $358  
Weighted average common shares outstanding170.0  164.9  170.3  164.4  
Add effect of dilutive securities:
Share-based awards3.6  4.6  4.5  4.7  
2.00% senior convertible notes
—  6.6  —  6.2  
1.75% senior convertible notes
—  —  —  —  
Diluted weighted average common shares outstanding173.6  176.1  174.8  175.3  
Per share amount$0.78  $1.18  $1.90  $2.04  

For the three months ended June 27, 2020, the assumed exercise of 0.6 million options, including 0.2 million subject to market based contingent option agreements, were excluded because their inclusion would have been antidilutive. For the six months ended June 27, 2020, the assumed exercise of 0.4 million options, including 0.1 million subject to market based contingent option agreements, were excluded because their inclusion would have been antidilutive.
For the three and six months ended June 29, 2019, the assumed exercise of 0.5 million options, including 0.3 million subject to market based contingent option agreements, were excluded because their inclusion would have been antidilutive.
As of June 27, 2020, the Company had $1.0 billion of 1.75% senior convertible notes outstanding which mature in September 15, 2024 ("New Senior Convertible Notes"). The notes are convertible based on a conversion rate of 4.9140 per $1,000 principal amount (which is equal to an initial conversion price of $203.50 per share). In the event of conversion, the Company intends to settle the principal amount of the New Senior Convertible Notes in cash. Because of the Company’s intention to settle the par value of the New Senior Convertible Notes in cash, Motorola Solutions does not reflect any shares underlying the New Senior Convertible Notes in its diluted weighted average shares outstanding until the average stock price per share for the period exceeds the conversion price. Only the number of shares that would be issuable (under the treasury stock method of accounting for share dilution) will be included, which is based upon the amount by which the average stock price exceeds the conversion price of $203.50. The conversion price is adjusted for dividends declared through the date of settlement. For the period ended June 27, 2020, there was no dilutive effect of the New Senior Convertible Notes on diluted earnings per share attributable to Motorola Solutions, Inc. as the average stock price for the period outstanding was below the conversion price. See further discussion in Note 5.
Balance Sheet Information
Accounts Receivable, Net
Accounts receivable, net, consists of the following: 
June 27, 2020December 31, 2019
Accounts receivable$1,211  $1,475  
Less allowance for credit losses(77) (63) 
 $1,134  $1,412  
Inventories, Net
Inventories, net, consist of the following: 
June 27, 2020December 31, 2019
Finished goods$226  $209  
Work-in-process and production materials355  374  
581  583  
Less inventory reserves(132) (136) 
 $449  $447  
Other Current Assets
Other current assets consist of the following: 
June 27, 2020December 31, 2019
Current contract cost assets (Note 2)$22  $24  
Tax-related deposits48  77  
Other155  171  
 $225  $272  
Property, Plant and Equipment, Net
Property, plant and equipment, net, consists of the following: 
June 27, 2020December 31, 2019
Land$6  $15  
Leasehold improvements403  410  
Machinery and equipment2,100  2,051  
2,509  2,476  
Less accumulated depreciation(1,544) (1,484) 
 $965  $992  
Depreciation expense for the three months ended June 27, 2020 and June 29, 2019 was $47 million and $44 million, respectively. Depreciation expense for the six months ended June 27, 2020 and June 29, 2019 was $93 million and $89 million, respectively.
Investments
Investments consist of the following:
June 27, 2020December 31, 2019
Common stock$23  $25  
Strategic investments, at cost46  40  
Company-owned life insurance policies70  74  
Equity method investments18  20  
 $157  $159  
Other Assets
Other assets consist of the following: 
June 27, 2020December 31, 2019
Defined benefit plan assets$260  $223  
Non-current contract cost assets (Note 2)101  107  
Other56  92  
 $417  $422  
Accrued Liabilities
Accrued liabilities consist of the following: 
June 27, 2020December 31, 2019
Compensation$193  $347  
Tax liabilities72  95  
Dividend payable109  110  
Trade liabilities140  161  
Operating lease liabilities (Note 3)123  122  
Other534  521  
 $1,171  $1,356  
Other Liabilities
Other liabilities consist of the following: 
June 27, 2020December 31, 2019
Defined benefit plans$1,483  $1,524  
Non-current contract liabilities (Note 2)263  274  
Unrecognized tax benefits55  53  
Deferred income taxes175  184  
Other237  241  
 $2,213  $2,276  
Stockholders’ Equity (Deficit)
Share Repurchase Program: During the three and six months ended June 27, 2020, the Company paid an aggregate of $83 million and $336 million, including transaction costs, to repurchase approximately 0.6 million and 2.2 million shares at an average price of $133.93 and $154.58 per share, respectively. As of June 27, 2020, the Company had $925 million of authority available for future repurchases.
Payment of Dividends: During the three months ended June 27, 2020 and June 29, 2019, the Company paid $109 million and $94 million, respectively, in cash dividends to holders of its common stock. During the six months ended June 27, 2020 and June 29, 2019, the Company paid $218 million and $187 million, respectively, in cash dividends to holders of its common stock.
Accumulated Other Comprehensive Loss
The following table displays the changes in Accumulated other comprehensive loss, including amounts reclassified into income, and the affected line items in the Condensed Consolidated Statements of Operations during the three and six months ended June 27, 2020 and June 29, 2019:
Three Months EndedSix Months Ended
June 27, 2020June 29, 2019June 27, 2020June 29, 2019
Foreign Currency Translation Adjustments:
Balance at beginning of period$  (548) $(414) $  (410) $(444) 
Other comprehensive income (loss) before reclassification adjustment75  (24) (61) 10  
Tax benefit (expense)3  1  1  (3) 
Other comprehensive income (loss), net of tax78  (23) (60) 7  
Balance at end of period$(470) $(437) $(470) $(437) 
Defined Benefit Plans:
Balance at beginning of period$(2,018) $(2,310) $(2,030) $(2,321) 
Reclassification adjustment - Actuarial net losses into Other income19  17  38  33  
Reclassification adjustment - Prior service benefits into Other expense(4) (4) (8) (7) 
Tax expense(2) (3) (5) (5) 
Other comprehensive income, net of tax13  10  25  21  
Balance at end of period$(2,005) $(2,300) $(2,005) $(2,300) 
Total Accumulated other comprehensive loss$(2,475) $(2,737) $(2,475) $(2,737)