Motorola 2011 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 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

72
Other Income (Expense)
Interest income, net, and Other both included in Other income (expense) consist of the following:
Years Ended December 31 2011 2010 2009
Interest expense, net:
Interest expense $(132) $(217) $(207)
Interest income 58 88 74
$ (74) $(129) $(133)
Other:
Investment impairments $ (4) $ (21) $ (75)
Gain (loss) from the extinguishment of the Company’s outstanding long-term debt (81) (12) 67
Foreign currency gain 812 14
Gain on Sigma Fund investments —11 80
Other 835
$ (69) $ (7) $ 91
Earnings (Loss) Per Common Share
Basic and diluted earnings (loss) per common share from both continuing operations and net earnings (loss)
attributable to Motorola Solutions, Inc., including discontinued operations, is computed as follows:
Continuing Operations
Net Earnings (loss)
attributable to
Motorola Solutions, Inc.
Years Ended December 31 2011 2010 2009 2011 2010 2009
Basic earnings (loss) per common share:
Earnings (loss) $ 747 $ 244 $ 422 $1,158 $ 633 $ (51)
Weighted average common shares outstanding 333.8 333.3 327.9 333.8 333.3 327.9
Per share amount $ 2.24 $ 0.73 $ 1.29 $ 3.47 $ 1.90 $ (0.16)
Diluted earnings (loss) per common share:
Earnings (loss) $ 747 $ 244 $ 422 $1,158 $ 633 $ (51)
Weighted average common shares outstanding 333.8 333.3 327.9 333.8 333.3 327.9
Add effect of dilutive securities:
Share-based awards and other 5.9 4.8 2.0 5.9 4.8 2.0
Diluted weighted average common shares outstanding 339.7 338.1 329.9 339.7 338.1 329.9
Per share amount $ 2.20 $ 0.72 $ 1.28 $ 3.41 $ 1.87 $ (0.15)
Presentation gives effect to the Reverse Stock Split, which occurred on January 4, 2011.
In the computation of diluted earnings per common share from both continuing operations and on a net
earnings basis for the year ended December 31, 2011, the assumed exercise of 8.6 million stock options and vesting
of 0.2 million restricted stock units were excluded because their inclusion would have been antidilutive. For the year
ended December 31, 2010, the assumed exercise of 14.6 million stock options and vesting of 0.7 million restricted
stock units were excluded because their inclusion would have been antidilutive. For the year ended December 31,
2009, the assumed exercise of 22.7 million stock options and vesting of 2.2 million restricted stock units were
excluded because their inclusion would have been antidilutive.