Motorola 2006 Annual Report Download - page 95

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87
Other Liabilities
Other liabilities consists of the following:
December 31
2006
2005
Defined benefit plans $1,882 $1,644
Postretirement health care benefit plan 214 66
Royalty license arrangement 300 315
Deferred revenue 273 78
Other 653 624
$3,322 $2,727
Stockholders' Equity Information
Comprehensive Earnings (Loss)
Net unrealized gains (losses) on securities included in Comprehensive earnings (loss) are comprised of the
following:
Years Ended December 31
2006
2005
Gross unrealized gains (losses) on securities, net of tax $31 $ (204)
Less: Realized gains, net of tax 91 1,116
Net unrealized losses on securities, net of tax $(60) $(1,320)
Share Repurchase Program
In May 2005, the Board of Directors authorized the Company to purchase up to $4.0 billion of its outstanding
shares of common stock over a period of up to 36 months ending in May 2008, subject to market conditions (the
""2005 Stock Repurchase Program''). In July 2006, the Company entered into an accelerated stock buyback
agreement to repurchase approximately $1.2 billion of its outstanding common stock (the ""ASB''). In October
2006, the Company received the final distribution of shares under the ASB. The total shares purchased under the
ASB were 50.5 million shares. The ASB completed the 2005 Stock Repurchase Program.
On July 24, 2006, the Board of Directors authorized the Company to repurchase up to an additional
$4.5 billion of its outstanding shares of common stock over a period of up to 36 months ending in June 2009,
subject to market conditions (the ""2006 Stock Repurchase Program''). In the fourth quarter of 2006, the Company
purchased $700 million of shares under the 2006 Stock Repurchase Program.
The Company repurchased a total of 171.7 million common shares (including shares received under the ASB)
at a cost of $3.8 billion in 2006. The Company repurchased a total of 41.7 million common shares at a cost of
$874 million in 2005. All repurchased shares have been retired.