Motorola 2011 Annual Report Download - page 66

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60
Motorola Solutions, Inc. and Subsidiaries
Consolidated Statements of Operations
Years Ended December 31
(In millions, except per share amounts) 2011 2010 2009
Net sales from products $6,068 $5,616 $5,026
Net sales from services 2,135 2,001 1,921
Net sales 8,203 7,617 6,947
Cost of product sales 2,723 2,523 2,221
Cost of service sales 1,334 1,282 1,249
Costs of sales 4,057 3,805 3,470
Gross margin 4,146 3,812 3,477
Selling, general and administrative expenses 1,912 1,874 1,662
Research and development expenditures 1,035 1,037 993
Other charges 341 150 255
Operating earnings 858 751 567
Other income (expense):
Interest expense, net (74) (129) (133)
Gains on sales of investments and businesses, net 23 49 108
Other (69) (7) 91
Total other income (expense) (120) (87) 66
Earnings from continuing operations before income taxes 738 664 633
Income tax expense (benefit) (3) 403 188
Earnings from continuing operations 741 261 445
Earnings (loss) from discontinued operations, net of tax 411 389 (473)
Net earnings (loss) 1,152 650 (28)
Less: Earnings (loss) attributable to noncontrolling interests (6) 17 23
Net earnings (loss) attributable to Motorola Solutions, Inc. $1,158 $ 633 $ (51)
Amounts attributable to Motorola Solutions, Inc. common shareholders:
Earnings from continuing operations, net of tax $ 747 $ 244 $ 422
Earnings (loss) from discontinued operations, net of tax 411 389 (473)
Net earnings (loss) $1,158 $ 633 $ (51)
Earnings (loss) per common share:
Basic:
Continuing operations $ 2.24 $ 0.73 $ 1.29
Discontinued operations 1.23 1.17 (1.45)
$ 3.47 $ 1.90 $ (0.16)
Diluted:
Continuing operations $ 2.20 $ 0.72 $ 1.28
Discontinued operations 1.21 1.15 (1.43)
$ 3.41 $ 1.87 $ (0.15)
Weighted average common shares outstanding:
Basic 333.8 333.3 327.9
Diluted 339.7 338.1 329.9
Dividends paid per share $ 0.22 $ — $ 0.35
See accompanying notes to consolidated financial statements.