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92 MOTOROLA INC. AND SUBSIDIARIESNOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (Dollars in millions, except as noted)
entitled to fractional shares of Freescale Semiconductor Class B common stock in the distribution received the cash
value instead. The equity distribution was structured to be tax-free to Motorola stockholders for U.S. tax purposes
(other than with respect to any cash received in lieu of fractional shares). The historical results of Freescale
Semiconductor have been reÖected as discontinued operations in the underlying Ñnancial statements and related
disclosures for all periods presented. As a result, the historical footnote disclosures have been revised to exclude
amounts related to Freescale Semiconductor.
The following table displays summarized Ñnancial information for discontinued operations:
Years Ended December 31
2004*
2003 2002
Net sales (including sales to other Motorola businesses of $1,154 million, $961 million
and $1,143 million for the years ended December 31, 2004, 2003 and 2002,
respectively.) $5,180 $4,864 $ 5,000
Operating earnings (loss) 213 (189) (1,370)
Earnings (loss) before income taxes 241 (83) (1,375)
Income tax expense (beneÑt) 900 (48) (240)
Loss from discontinued operations, net of tax (659) (35) (1,135)
* Includes the results of operations through December 2, 2004
The following table displays a summary of the assets and liabilities of discontinued operations as of
December 31, 2003.
December 31, 2003
Assets
Cash and cash equivalents $87
Accounts receivable, net 284
Inventories, net 693
Deferred income taxes, current 314
Other current assets 309
Property, plant and equipment, net 2,691
Deferred income taxes, non-current 576
Other assets 290
$5,244
Liabilities
Notes payable and current portion of long-term debt $ 27
Accounts payable 331
Accrued liabilities 382
Long-term debt 2
Other liabilities 233
$ 975