Motorola 2011 Annual Report Download - page 37

Download and view the complete annual report

Please find page 37 of the 2011 Motorola annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 131

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131

31
Item 6: Selected Financial Data
Motorola Solutions, Inc. and Subsidiaries
Five-Year Financial Summary
Years Ended December 31
(Dollars in millions, except as noted) 2011 2010 2009 2008 2007
Operating Results
Net sales from products $ 6,068 $ 5,616 $ 5,026 $ 6,026 $ 6,174
Net sales from services 2,135 2,001 1,921 1,835 1,791
Net sales 8,203 7,617 6,947 7,861 7,965
Cost of product sales 2,723 2,523 2,221 2,703 2,918
Cost of service sales 1,334 1,282 1,249 1,181 1,187
Costs of sales 4,057 3,805 3,470 3,884 4,105
Gross margin 4,146 3,812 3,477 3,977 3,860
Selling, general and administrative expenses 1,912 1,874 1,662 1,800 1,888
Research and development expenditures 1,035 1,037 993 1,062 1,137
Other charges 341 150 255 1,819 551
Operating earnings (loss) 858 751 567 (704) 284
Other income (expense):
Interest income (expense), net (74) (129) (133) 35 54
Gains on sales of investments and businesses, net 23 49 108 64 14
Other (69) (7) 91 (415) 31
Total other income (expense) (120) (87) 66 (316) 99
Earnings (loss) from continuing operations before income taxes 738 664 633 (1,020) 383
Income tax expense (benefit) (3) 403 188 2,470 23
Earnings (loss) from continuing operations 741 261 445 (3,490) 360
Earnings (loss) from discontinued operations, net of tax 411 389 (473) (750) (395)
Net earnings (loss) 1,152 650 (28) (4,240) (35)
Less: Earnings (loss) attributable to noncontrolling interests (6) 17 23 4 14
Net earnings (loss) attributable to Motorola Solutions, Inc. $ 1,158 $ 633 $ (51) $ (4,244) $ (49)
Amounts attributable to Motorola Solutions, Inc. common
shareholders
Earnings (loss) from continuing operations, net of tax $ 747 $ 244 $ 422 $ (3,494) $ 346
Earnings (loss) from discontinued operations, net of tax 411 389 (473) (750) (395)
Net earnings (loss) $ 1,158 $ 633 $ (51) $ (4,244) $ (49)
Per Share Data (in dollars)
Diluted earnings (loss) from continuing operations per common
share 2.20 0.72 1.28 (10.80) 1.03
Diluted earnings (loss) per common share 3.41 1.87 (0.15) (13.11) (0.15)
Diluted weighted average common shares outstanding (in
millions) 339.7 338.1 329.9 323.6 334.7
Dividends paid per share $ 0.22 $ — $ 0.35 $ 1.40 $ 1.40
Balance Sheet
Total assets $13,929 $25,577 $25,603 $27,869 $34,812
Long-term debt 1,130 2,098 3,258 3,982 3,893
Total debt 1,535 2,703 3,794 4,074 4,224
Total stockholders’ equity 5,274 10,987 9,883 9,595 15,525
Other Data
Capital expenditures $ 186 $ 192 $ 136 $ 257 $ 218
% of sales 2.3% 2.5% 2.0% 3.3% 2.7%
Research and development expenditures $ 1,035 $ 1,037 $ 993 $ 1,062 $ 1,137
% of sales 12.6% 13.6% 14.3% 13.5% 14.3%
Year-end employment (in thousands) 23 51 53 64 66