Motorola 2015 Annual Report Download - page 60

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59
Because of the Company’s intention to settle the par value of the Senior Convertible Notes in cash upon conversion,
Motorola Solutions does not reflect any shares underlying the Senior Convertible Notes in its diluted weighted average shares
outstanding until the average stock price per share for the period exceeds the conversion price. In this case, only the number of
shares that would be issuable (under the treasury stock method of accounting for share dilution) will be included, which is based
upon the amount by which the average stock price exceeds the conversion price of $68.50. For the year ended December 31,
2015, the dilutive impact of the Senior Convertible Notes was 67 thousand shares.
Balance Sheet Information
Cash and Cash Equivalents
The Company’s cash and cash equivalents were $2.0 billion at December 31, 2015 and $4.0 billion at December 31, 2014.
Of these amounts, $63 million was restricted at both December 31, 2015 and December 31, 2014.
Accounts Receivable, Net
Accounts receivable, net, consist of the following:
December 31 2015 2014
Accounts receivable $1,390$ 1,444
Less allowance for doubtful accounts (28) (35)
$1,362$ 1,409
Inventories, Net
Inventories, net, consist of the following:
December 31 2015 2014
Finished goods $ 151 $163
Work-in-process and production materials 287 313
438 476
Less inventory reserves (142) (131)
$ 296 $345
Other Current Assets
Other current assets consist of the following:
December 31 2015 2014
Available-for-sale securities $ 401 $—
Costs and earnings in excess of billings 374 417
Tax-related refunds receivable 44 103
Zebra receivable for cash transferred —49
Other 98 171
$ 917 $740
In conjunction with the sale of the Enterprise business to Zebra, the Company transfered legal entities which maintained
cash balances. During the year ended December 31, 2015, approximately $49 million of transferred cash balances were
reimbursed by Zebra in accordance with the sales agreement.
Property, Plant and Equipment, Net
Property, plant and equipment, net, consist of the following:
December 31 2015 2014
Land $17$18
Building 523 559
Machinery and equipment 1,585 1,672
2,125 2,249
Less accumulated depreciation (1,638) (1,700)
$ 487 $549