Motorola 2013 Annual Report Download - page 69

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67
Other Assets
Other assets consist of the following:
December 31 2013 2012
Intangible assets $ 87 $ 109
Long-term receivables 660
Other 92 104
$ 185 $ 273
Accrued Liabilities
Accrued liabilities consist of the following:
December 31 2013 2012
Deferred revenue $ 778 $ 820
Compensation 334 424
Billings in excess of costs and earnings 295 387
Tax liabilities 95 95
Customer reserves 146 144
Dividend payable 79 72
Other 675 684
$ 2,402 $ 2,626
Other Liabilities
Other liabilities consist of the following:
December 31 2013 2012
Defined benefit plans, including split dollar life insurance arrangements $ 1,759 $ 3,389
Postretirement health care benefit plan 117 167
Deferred revenue 302 304
Unrecognized tax benefits 102 98
Other 205 237
$ 2,485 $ 4,195
Stockholders’ Equity Information
Share Repurchase Program: During 2013, the Company paid an aggregate of $1.7 billion, including transaction costs, to
repurchase 28.6 million shares at an average price of $59.30 per share. During 2012, the Company paid an aggregate of $2.4
billion, including transaction costs, to repurchase 49.6 million shares at an average price of $49.14. During 2011, the Company
paid an aggregate of $1.1 billion, including transaction costs, to repurchase 26.6 million shares at an average price of $41.77.
On July 24, 2013, the Company announced that its Board of Directors authorized up to $2.0 billion in additional funds for
share repurchases, bringing the aggregate amount of the share repurchase program to $7.0 billion. As of December 31, 2013,
the Company had used approximately $5.2 billion of the share repurchase authority, including transaction costs, to repurchase
shares, leaving $1.8 billion of authority available for future repurchases.
Payment of Dividends: On July 24, 2013, the Company announced that its Board of Directors approved an increase in
the quarterly cash dividend from $0.26 per share to $0.31 per share of common stock. During the years ended December 31,
2013, 2012, and 2011 the Company paid $292 million, $270 million, and $72 million respectively, in cash dividends to holders
of its common stock. During 2011, the Company paid $8 million of dividends to minority shareholders in connection with
subsidiary common stock.
Motorola Mobility Distribution: On January 4, 2011, the distribution of Motorola Mobility from Motorola Solutions was
completed. On January 4, 2011, the stockholders of record as of the close of business on December 21, 2010 (the "Record
Date") received one (1) share of Motorola Mobility common stock for each eight (8) shares of the Company's common stock
held as of the Record Date. The distribution was completed pursuant to an Amended and Restated Master Separation and
Distribution Agreement, effective as of July 31, 2010, among the Company, Motorola Mobility and Motorola Mobility, Inc.