Motorola 2012 Annual Report Download - page 58

Download and view the complete annual report

Please find page 58 of the 2012 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 120

  • 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

Motorola Solutions, Inc. and Subsidiaries
Consolidated Statements of Operations
Years ended December 31
(In millions, except per share amounts) 2012 2011 2010
Net sales from products $ 6,363 $ 6,068 $ 5,616
Net sales from services 2,335 2,135 2,001
Net sales 8,698 8,203 7,617
Cost of product sales 2,844 2,723 2,523
Cost of service sales 1,506 1,334 1,282
Costs of sales 4,350 4,057 3,805
Gross margin 4,348 4,146 3,812
Selling, general and administrative expenses 1,963 1,912 1,874
Research and development expenditures 1,075 1,035 1,037
Other charges 54 341 150
Operating earnings 1,256 858 751
Other income (expense):
Interest expense, net (66)(74)(129)
Gain on sales of investments and businesses, net 39 23 49
Other (14)(69)(7)
Total other expense (41)(120)(87)
Earnings from continuing operations before income taxes 1,215 738 664
Income tax expense (benefit) 337 (3) 403
Earnings from continuing operations 878 741 261
Earnings from discontinued operations, net of tax 3411 389
Net earnings 881 1,152 650
Less: Earnings (loss) attributable to noncontrolling interests —(6)17
Net earnings attributable to Motorola Solutions, Inc. $ 881 $ 1,158 $ 633
Amounts attributable to Motorola Solutions, Inc. common
shareholders:
Earnings from continuing operations, net of tax $ 878 $ 747 $ 244
Earnings from discontinued operations, net of tax 3411 389
Net earnings $ 881 $ 1,158 $ 633
Earnings per common share:
Basic:
Continuing operations $ 3.01 $ 2.24 $ 0.73
Discontinued operations —1.23 1.17
$ 3.01 $ 3.47 $ 1.90
Diluted:
Continuing operations $ 2.95 $ 2.20 $ 0.72
Discontinued operations 0.01 1.21 1.15
$ 2.96 $ 3.41 $ 1.87
Weighted average common shares outstanding:
Basic 292.1 333.8 333.3
Diluted 297.4 339.7 338.1
Dividends declared per share $ 0.96 $ 0.22 $ —
See accompanying notes to consolidated financial statements.
50