Motorola 2004 Annual Report Download - page 38

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30
Item 6: Selected Financial Data
Motorola, Inc. and Subsidiaries
Five Year Financial Summary
Years Ended December 31
(Dollars in millions, except as noted)
2004
2003 2002 2001 2000
Operating Results
Net sales $ 31,323 $ 23,155 $ 23,422 $ 26,468 $ 32,107
Costs of sales 20,826 15,588 15,741 19,673 22,401
Gross margin 10,497 7,567 7,681 6,795 9,706
Selling, general and administrative expenses 4,209 3,529 3,991 4,369 5,031
Research and development expenditures 3,060 2,799 2,774 3,312 3,426
Reorganization of businesses (15) 23 605 1,245 326
Other charges (income) 111 (57) 754 2,091 293
Operating earnings (loss) 3,132 1,273 (443) (4,222) 630
Other income (expense):
Interest expense, net (199) (294) (355) (390) (164)
Gains on sales of investments and businesses, net 460 539 81 1,931 1,526
Other (141) (142) (1,354) (1,201) (72)
Total other income (expense) 120 103 (1,628) 340 1,290
Earnings (loss) from continuing operations before
income taxes 3,252 1,376 (2,071) (3,882) 1,920
Income tax expense (beneÑt) 1,061 448 (721) (876) 711
Earnings (loss) from continuing operations 2,191 928 (1,350) (3,006) 1,209
Earnings (loss) from discontinued operations,
net of tax (659) (35) (1,135) (931) 109
Net earnings (loss) $ 1,532 $ 893 $ (2,485) (3,937) 1,318
Per Share Data (in dollars)
Diluted earnings (loss) from continuing operations per
common share $ 0.90 $ 0.39 $ (0.59) $ (1.36) $ 0.54
Diluted earnings (loss) per common share 0.64 0.38 (1.09) (1.78) $ 0.58
Diluted weighted average common shares outstanding
(in millions) 2,472.0 2,351.2 2,282.3 2,213.3 2,256.6
Dividends paid per share $ 0.16 $ 0.16 $ 0.16 $ 0.16 $ 0.16
Balance Sheet
Total assets $ 30,889 $ 32,046 $ 31,233 $ 33,398 $ 42,343
Long-term debt and redeemable preferred securities 4,578 7,159 7,660 8,769 4,777
Total debt and redeemable preferred securities 5,295 8,028 9,159 9,462 11,167
Total stockholders' equity 13,331 12,689 11,239 13,691 18,612
Other Data
Capital expenditures $ 494 $ 344 $ 387 $ 708 $ 1,724
% of sales 1.6% 1.5% 1.7% 2.7% 5.4%
Research and development expenditures $ 3,060 $ 2,799 $ 2,774 $ 3,312 $ 3,426
% of sales 9.8% 12.1% 11.8% 12.5% 10.7%
Year-end employment (in thousands)* 68 88 97 111 147
* Employment decrease in 2004 primarily reÖects the impact of the spin-oÅ of Freescale Semiconductor.