Motorola 2014 Annual Report Download - page 48

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46
Consolidated Statements of Operations
Years ended December 31
(In millions, except per share amounts) 2014 2013 2012
Net sales from products $ 3,807 $ 4,109 $ 4,236
Net sales from services 2,074 2,118 2,033
Net sales 5,881 6,227 6,269
Costs of product sales 1,678 1,808 1,795
Costs of services sales 1,372 1,310 1,280
Costs of sales 3,050 3,118 3,075
Gross margin 2,831 3,109 3,194
Selling, general and administrative expenses 1,184 1,330 1,472
Research and development expenditures 681 761 790
Other charges 1,972 71 12
Operating earnings (loss) (1,006) 947 920
Other income (expense):
Interest expense, net (126) (113) (66)
Gains on sales of investments 537 26
Other (34) 9 1
Total other expense (155) (67) (39)
Earnings (loss) from continuing operations before income taxes (1,161) 880 881
Income tax expense (benefit) (465) (59) 211
Earnings (loss) from continuing operations (696) 939 670
Earnings from discontinued operations, net of tax 1,996 166 211
Net earnings 1,300 1,105 881
Less: Earnings attributable to noncontrolling interests 16 —
Net earnings attributable to Motorola Solutions, Inc. $ 1,299 $ 1,099 $ 881
Amounts attributable to Motorola Solutions, Inc. common stockholders:
Earnings (loss) from continuing operations, net of tax $ (697) $ 933 $ 670
Earnings from discontinued operations, net of tax 1,996 166 211
Net earnings $ 1,299 $ 1,099 $ 881
Earnings (loss) per common share:
Basic:
Continuing operations $ (2.84) $ 3.51 $ 2.29
Discontinued operations 8.13 0.62 0.73
$ 5.29 $ 4.13 $ 3.02
Diluted:
Continuing operations $ (2.84) $ 3.45 $ 2.25
Discontinued operations 8.13 0.61 0.71
$ 5.29 $ 4.06 $ 2.96
Weighted average common shares outstanding:
Basic 245.6 266.0 292.1
Diluted 245.6 270.5 297.4
Dividends declared per share $ 1.30 $ 1.14 $ 0.96
See accompanying notes to consolidated financial statements.