XML 39 R29.htm IDEA: XBRL DOCUMENT v3.23.3
Other Financial Data (Tables)
9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Charges (Income) Other charges (income) included in Operating earnings consist of the following:
 Three Months EndedNine Months Ended
September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Other charges:
Intangibles amortization (Note 15)$39 $63 $137 $194 
Environmental reserve expense — 15 — 
Reorganization of business (Note 14)4 16 14 
Operating lease asset impairments 4 16 
Acquisition-related transaction fees1 3 16 
Legal settlements1 12 1 23 
Fixed asset impairments 3 12 
Gain on Hytera legal settlement —  (13)
Other1 (1)2 — 
 $46 $83 $181 $262 
Other Income (Expense)
Interest expense, net, and Other, net, both included in Other income (expense), consist of the following: 
 Three Months EndedNine Months Ended
September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Interest income (expense), net:
Interest expense$(60)$(62)$(186)$(179)
Interest income7 22 
$(53)$(60)$(164)(171)
Other, net:
Net periodic pension and postretirement benefit (Note 8)$24 $28 $73 $91 
Loss from the extinguishment of long-term debt (Note 5) —  (6)
Investment impairments(7)— (16)(1)
Foreign currency gain (loss)23 45 (16)95 
Loss on derivative instruments (Note 6)(26)(54)(9)(111)
Loss on equity method investments —  (2)
Fair value adjustments to equity investments(7)(5)12 (35)
Gain on TETRA Ireland equity method investment —  21 
Other 2 (2)
 $7 $19 $46 $50 
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 30, 2023October 1, 2022September 30, 2023October 1, 2022
Basic earnings per common share:
Earnings$464 $279 $1,113 $774 
Weighted average common shares outstanding166.7 167.2 167.2 167.5 
Per share amount$2.78 $1.67 $6.66 $4.62 
Diluted earnings per common share:
Earnings$464 $279 $1,113 $774 
Weighted average common shares outstanding166.7 167.2 167.2 167.5 
Add effect of dilutive securities:
Share-based awards3.5 3.6 3.6 3.8 
1.75% senior convertible notes
1.5 0.7 1.4 0.6 
Diluted weighted average common shares outstanding171.7 171.5 172.2 171.9 
Per share amount$2.70 $1.63 $6.46 $4.50 
Accounts Receivable, Net
Accounts receivable, net, consists of the following: 
September 30, 2023December 31, 2022
Accounts receivable$1,728 $1,579 
Less allowance for credit losses(61)(61)
 $1,667 $1,518 
Inventories, Net
Inventories, net, consist of the following: 
September 30, 2023December 31, 2022
Finished goods$337 $354 
Work-in-process and production materials763 829 
1,100 1,183 
Less inventory reserves(141)(128)
 $959 $1,055 
Other Current Assets
Other current assets consist of the following: 
September 30, 2023December 31, 2022
Current contract cost assets (Note 2)$89 $61 
Contractor receivables38 47 
Tax-related deposits32 33 
Other245 242 
 $404 $383 
Property, Plant and Equipment, Net
Property, plant and equipment, net, consist of the following:
September 30, 2023December 31, 2022
Land$5 $
Leasehold improvements459 456 
Machinery and equipment2,295 2,303 
2,759 2,764 
Less accumulated depreciation(1,828)(1,837)
 $931 $927 
Investments Investments consist of the following:
September 30, 2023December 31, 2022
Common stock$30 $21 
Strategic investments28 45 
Company-owned life insurance policies71 69 
Equity method investments13 12 
 $142 $147 
Other Assets Other assets consist of the following:
September 30, 2023December 31, 2022
Defined benefit plan assets$168 $164 
Non-current contract cost assets (Note 2)109 130 
Other59 16 
 $336 $310 
Accrued Liabilities
Accrued liabilities consist of the following: 
September 30, 2023December 31, 2022
Compensation$299 $374 
Tax liabilities208 367 
Dividend payable146 148 
Trade liabilities137 145 
Operating lease liabilities (Note 3)118 118 
Customer reserves83 78 
Other364 408 
 $1,355 $1,638 
Other Liabilities
Other liabilities consist of the following: 
September 30, 2023December 31, 2022
Defined benefit plans$915 $1,004 
Non-current contract liabilities (Note 2)394 363 
Unrecognized tax benefits (Note 7)29 29 
Deferred income taxes (Note 7)72 73 
Environmental reserve123 108 
Other167 114 
 $1,700 $1,691 
Accumulated Other Comprehensive Loss
The following table displays the changes in Accumulated other comprehensive loss, including amounts reclassified into income, and the affected line items in the Condensed Consolidated Statements of Operations during the three and nine months ended September 30, 2023 and October 1, 2022:
Three Months EndedNine Months Ended
September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Foreign Currency Translation Adjustments:
Balance at beginning of period$(476)$(539)$  (539)$(384)
Other comprehensive income (loss) before reclassification adjustment(62)(153)(8)(304)
Tax benefit (expense)(8)(9)1 (13)
Other comprehensive income (loss), net of tax(70)(162)(7)(317)
Balance at end of period$(546)$(701)$(546)$(701)
Defined Benefit Plans:
Balance at beginning of period$(1,971)$(1,952)$(1,996)$(1,995)
Other comprehensive income before reclassification adjustment —  17 
Tax expense —  (3)
Other comprehensive income before reclassification adjustment, net of tax —  14 
Reclassification adjustment - Actuarial net losses into Other income (Note 8)15 20 45 60 
Reclassification adjustment - Prior service benefits into Other income (Note 8)1 (1)3 (3)
Tax expense(4)(4)(11)(13)
Reclassification adjustments into Net earnings, net of tax12 15 37 44 
Other comprehensive income, net of tax12 15 37 58 
Balance at end of period$(1,959)$(1,937)$(1,959)$(1,937)
Total Accumulated other comprehensive loss$(2,505)$(2,638)$(2,505)$(2,638)