Motorola 2013 Annual Report Download - page 54

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52
Motorola Solutions, Inc. and Subsidiaries
Consolidated Statements of Operations
Years ended December 31
(In millions, except per share amounts) 2013 2012 2011
Net sales from products $ 6,118 $ 6,363 $ 6,068
Net sales from services 2,578 2,335 2,135
Net sales 8,696 8,698 8,203
Costs of product sales 2,852 2,844 2,723
Costs of services sales 1,603 1,506 1,334
Costs of sales 4,455 4,350 4,057
Gross margin 4,241 4,348 4,146
Selling, general and administrative expenses 1,838 1,963 1,912
Research and development expenditures 1,055 1,075 1,035
Other charges 133 54 341
Operating earnings 1,215 1,256 858
Other income (expense):
Interest expense, net (113)(66)(74)
Gains on sales of investments and businesses, net 40 39 23
Other 3(14)(69)
Total other expense (70)(41)(120)
Earnings from continuing operations before income taxes 1,145 1,215 738
Income tax expense (benefit) 40 337 (3)
Earnings from continuing operations 1,105 878 741
Earnings from discontinued operations, net of tax —3 411
Net earnings 1,105 881 1,152
Less: Earnings (loss) attributable to noncontrolling interests 6—(6)
Net earnings attributable to Motorola Solutions, Inc. $ 1,099 $ 881 $ 1,158
Amounts attributable to Motorola Solutions, Inc. common stockholders:
Earnings from continuing operations, net of tax $ 1,099 $ 878 $ 747
Earnings from discontinued operations, net of tax —3 411
Net earnings $ 1,099 $ 881 $ 1,158
Earnings per common share:
Basic:
Continuing operations $ 4.13 $ 3.01 $ 2.24
Discontinued operations —— 1.23
$ 4.13 $ 3.01 $ 3.47
Diluted:
Continuing operations $ 4.06 $ 2.95 $ 2.20
Discontinued operations —0.01 1.21
$ 4.06 $ 2.96 $ 3.41
Weighted average common shares outstanding:
Basic 266.0 292.1 333.8
Diluted 270.5 297.4 339.7
Dividends declared per share $ 1.14 $ 0.96 $ 0.22
See accompanying notes to consolidated financial statements.