Motorola 2000 Annual Report Download - page 14

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12 MOTOROLA, INC. AND SUBSIDIARIES
In billions
Net sales
In millions
Earnings
(loss) before
income taxes
In dollars
Diluted earnings
(loss) per share
In percentages
Return
on average
invested capital
0
10
20
30
40
96 97 98 99 00
-1400
0
1400
2800
4200
96 97 98 99 00
-0.5
0
0.5
1.0
1.5
96 97 98 99 00
-6
0
6
12
18
96 97 98 99 00
Net sales $37,580 $33,075
Earnings before income taxes 2,231 1,283
% to sales 5.9% 3.9%
Net earnings 1,318 891
% to sales 3.5% 2.7%
Diluted earnings per common share (in dollars) 0.58 0.41
Research and development expenditures 4,437 3,560
Capital expenditures 4,131 2,856
Working capital 3,628 4,679
Current ratio 1.22 1.36
Return on average invested capital 6.3% 5.3%
Return on average stockholders’ equity 6.6% 5.7%
% of net debt to net debt plus equity 28.1% 8.2%
Book value per common share (in dollars) 8.49 8.74
Year-end employment (in thousands) 147 128
1The 1999 figures have been restated to reflect the merger with General Instrument Corporation and the June 1, 2000,
3-for-1 common stock split.
Motorola is a global leader
in providing integrated
communications solutions
and embedded electronic
solutions. These include:
• Software-enhanced wire-
less telephone, two-way
radio and messaging prod-
ucts and systems, as
well as networking and
Internet-access products,
for consumers, network
operators, and commer-
cial, government and
industrial customers.
• End-to-end systems for
the delivery of interactive
digital video, voice and
high-speed data solutions
for broadband operators.
• Embedded semiconductor
solutions for customers
in the networking and
computing, transportation,
wireless communications
and digital consumer/
home networking markets.
• Embedded electronic
systems for automotive,
industrial, transportation,
navigation, communication
and energy systems
markets.
Contents
Something big
is happening 1
Financial highlights 12
To our stockholders
and other friends 13
Strategic focus 19
Consolidated
financial statements 21
Condensed notes
to consolidated
financial statements 25
Five-year financial
summary 31
Board of Directors
of Motorola, Inc. 32
Stockholder
reference information
Inside Back Cover
Financial highlights
Dollars in millions, except as noted Years ended December 31, 2000 1999 1