Motorola 2014 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2014 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 104

  • 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

27
largest public safety LTE network deals awarded and we expect these deals, among others, to begin to generate revenue in
2015.
We expect our iDEN revenues to continue to decline in accordance with our contractual service arrangements over the
next two to three years. The majority of iDEN sales are accounted for in our Services segment.
We remain committed to employing disciplined financial policies, including an additional reduction of over $100 million in
selling, general, administrative, research, and development expenses in 2015, brining our cumulative reduction in these
operating expenses to over $300 million during 2014 and 2015. We continue to explore opportunities to transition our capital
structure in a way that is reflective of our ability to generate solid operating cash flow and prioritize targeted investments in the
business. We expect to continue the quarterly dividends that were initiated in 2011 and intend to continue to invest organically in
capital expenditures and R&D. We will also evaluate acquisition opportunities along with the opportunities to return capital to
shareholders via share repurchases in accordance with our share repurchase program. As of December 31, 2014, we had
approximately $4.2 billion of authority available for share repurchases.