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Other Financial Data
 9 Months Ended
Sep. 26, 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 EndedNine Months Ended
  
September 26, 2020September 28, 2019September 26, 2020September 28, 2019
Other charges (income):
Intangibles amortization (Note 15)$54 $52 $158 $154 
Reorganization of business (Note 14)10 15 48 27 
Losses (gains) on legal settlements— (5)9 (5)
Fixed asset impairment— — 5 — 
Gain on sale of property, plant and equipment— — (50)— 
Acquisition-related transaction fees5 1 8 4 
 $69 $63 $178 $180 
During the nine months ended September 26, 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 EndedNine Months Ended
  
September 26, 2020September 28, 2019September 26, 2020September 28, 2019
Interest income (expense), net:
Interest expense$(60)$(60)$(175)$(178)
Interest income2 6 8 13 
$(58)$(54)$(167)$(165)
Other, net:
Net periodic pension and postretirement benefit (Note 8)$20 $17 $60 $50 
Gain from the extinguishment of 2.00% senior convertible notes (Note 5)
— 4 — 4 
Losses from the extinguishment of long-term debt (Note 5)(56)(7)(56)(50)
Investment impairments— (5)— (16)
Foreign currency gain (loss)(15)3 (19)(7)
Gain (loss) on derivative instruments10 (9)6 (16)
Gains on equity method investments1 2 1 3 
Fair value adjustments to equity investments(4)(18)1 (3)
Other2 2 (1)13 
 $(42)$(11)$(8)$(22)
During the three and nine months ended September 28, 2019, the Company recorded investment impairment charges of $5 million and $16 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 EndedNine Months Ended
September 26, 2020September 28, 2019September 26, 2020September 28, 2019
Basic earnings per common share:
Earnings$205 $267 $537 $625 
Weighted average common shares outstanding169.7 166.7 170.1 165.3 
Per share amount$1.21 $1.60 $3.16 $3.78 
Diluted earnings per common share:
Earnings$205 $267 $537 $625 
Weighted average common shares outstanding169.7 166.7 170.1 165.3 
Add effect of dilutive securities:
Share-based awards3.8 4.8 4.2 4.7 
2.00% senior convertible notes
— 4.9 — 5.7 
1.75% senior convertible notes
— — — — 
Diluted weighted average common shares outstanding173.5 176.4 174.3 175.7 
Per share amount$1.18 $1.51 $3.08 $3.56 

For the three months ended September 26, 2020, the assumed exercise of 0.5 million options, including 0.2 million subject to market based contingent option agreements, were excluded because their inclusion would have been antidilutive. For the nine months ended September 26, 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.
In the computation of diluted earnings per common share for the three months ended September 28, 2019 the assumed exercise of 0.01 million options were excluded because their inclusion would have been antidilutive. In the computation of the diluted earnings per common share for the nine months ended September 28, 2019, the assumed exercise of 0.3 million options were excluded because their inclusion would have been antidilutive.
As of September 26, 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 September 26, 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: 
September 26, 2020December 31, 2019
Accounts receivable$1,228 $1,475 
Less allowance for credit losses(73)(63)
 $1,155 $1,412 
Inventories, Net
Inventories, net, consist of the following: 
September 26, 2020December 31, 2019
Finished goods$279 $209 
Work-in-process and production materials340 374 
619 583 
Less inventory reserves(130)(136)
 $489 $447 
Other Current Assets
Other current assets consist of the following: 
September 26, 2020December 31, 2019
Current contract cost assets (Note 2)$25 $24 
Tax-related deposits65 77 
Other161 171 
 $251 $272 
Property, Plant and Equipment, Net
Property, plant and equipment, net, consists of the following: 
September 26, 2020December 31, 2019
Land$6 $15 
Leasehold improvements415 410 
Machinery and equipment2,169 2,051 
2,590 2,476 
Less accumulated depreciation(1,614)(1,484)
 $976 $992 
Depreciation expense for the three months ended September 26, 2020 and September 28, 2019 was $49 million and $47 million, respectively. Depreciation expense for the nine months ended September 26, 2020 and September 28, 2019 was $142 million and $136 million, respectively.
Investments
Investments consist of the following:
September 26, 2020December 31, 2019
Common stock$17 $25 
Strategic investments, at cost47 40 
Company-owned life insurance policies72 74 
Equity method investments18 20 
 $154 $159 

Other Assets
Other assets consist of the following: 
September 26, 2020December 31, 2019
Defined benefit plan assets$279 $223 
Non-current contract cost assets (Note 2)101 107 
Other57 92 
 $437 $422 
Accrued Liabilities
Accrued liabilities consist of the following: 
September 26, 2020December 31, 2019
Compensation$266 $347 
Tax liabilities59 95 
Dividend payable109 110 
Trade liabilities143 161 
Operating lease liabilities (Note 3)123 122 
Other505 521 
 $1,205 $1,356 
Other Liabilities
Other liabilities consist of the following: 
September 26, 2020December 31, 2019
Defined benefit plans$1,472 $1,524 
Non-current contract liabilities (Note 2)266 274 
Unrecognized tax benefits54 53 
Deferred income taxes179 184 
Other255 241 
 $2,226 $2,276 
Stockholders’ Equity (Deficit)
Share Repurchase Program: During the three and nine months ended September 26, 2020, the Company paid an aggregate of $105 million and $441 million, including transaction costs, to repurchase approximately 0.7 million and 2.9 million shares at an average price of $147.35 and $152.79 per share, respectively. As of September 26, 2020, the Company had $820 million of authority available for future repurchases.
Payment of Dividends: During the three months ended September 26, 2020 and September 28, 2019, the Company paid $109 million and $94 million, respectively, in cash dividends to holders of its common stock. During the nine months ended September 26, 2020 and September 28, 2019, the Company paid $327 million and $281 million, respectively, in cash dividends to holders of its common stock.
Accumulated Other Comprehensive Loss
The following table displays the changes in Accumulated other comprehensive loss, including amounts reclassified into income, and the affected line items in the Condensed Consolidated Statements of Operations during the three and nine months ended September 26, 2020 and September 28, 2019:
Three Months EndedNine Months Ended
September 26, 2020September 28, 2019September 26, 2020September 28, 2019
Foreign Currency Translation Adjustments:
Balance at beginning of period$  (470)$(437)$  (410)$(444)
Other comprehensive income (loss) before reclassification adjustment34 (33)(27)(23)
Tax expense(4)— (3)(3)
Other comprehensive income (loss), net of tax30 (33)(30)(26)
Balance at end of period$(440)$(470)$(440)$(470)
Defined Benefit Plans:
Balance at beginning of period$(2,005)$(2,300)$(2,030)$(2,321)
Reclassification adjustment - Actuarial net losses into Other income20 16 58 50 
Reclassification adjustment - Prior service benefits into Other expense(4)(4)(12)(11)
Tax expense(4)(1)(9)(7)
Other comprehensive income, net of tax12 11 37 32 
Balance at end of period$(1,993)$(2,289)$(1,993)$(2,289)
Total Accumulated other comprehensive loss$(2,433)$(2,759)$(2,433)$(2,759)