Motorola 2004 Annual Report Download - page 91

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83
interest rate swaps, the Company had no outstanding commodity derivatives, currency swaps or options relating to
debt instruments at December 31, 2004 and 2003.
The Company designates its interest rate hedge arrangements as hedges of the fair value of Ñxed-rate debt.
Interest expense on the debt is adjusted to include the payments made or received under such hedge agreements.
The Company is exposed to credit loss in the event of nonperformance by the counter-parties to its swap contracts.
The Company minimizes its credit risk on these transactions by only dealing with leading, credit-worthy financial
institutions having long-term debt ratings of ""A'' or better and, therefore, does not anticipate nonperformance. In addition,
the contracts are distributed among several financial institutions, thus minimizing credit risk concentration.
Environmental Matters
Compliance with federal, state and local laws regulating the discharge of materials into the environment, or
otherwise relating to the protection of the environment, has no material eÅect on capital expenditures, earnings or
the competitive position of Motorola.
» Reg. U.S. Patent & Trademark OÇce.
""MOTOROLA'' and ""Stylized M Logo'' are registered trademarks of Motorola, Inc. throughout the world.
Motorola has adopted, registered, or is seeking registration of the ""INTELLIGENCE EVERYWHERE'' trademark
in all major markets to designate its products and services across all businesses of the Company. These marks are
valuable corporate assets. Certain other trademarks and service marks of Motorola are registered in relevant
markets. Motorola's increasing focus on marketing products directly to consumers is reÖected in an increasing
emphasis on brand equity creation and protection. JAVA is a registered trademark of Sun Microsystems, Inc. in the
U.S. and other countries. All other products or service names are the property of their respective owners.