Attached files
| file | filename |
|---|---|
| EX-99.2 - REVISED SEGMENT INFORMATION TABLES FOR THE FOUR QUARTERS OF 2010 AND 2009 - Motorola Solutions, Inc. | dex992.htm |
| 8-K - FORM 8-K - Motorola Solutions, Inc. | d8k.htm |
Exhibit 99.1
Motorola Solutions, Inc. and Subsidiaries
Pro Forma Consolidated Statements of Cash Flows
(Unaudited)
(In millions)
| Three Months Ended | Year Ended | |||||||||||||||||||
| April 3, 2010 |
July 3, 2010 |
October 2, 2010 |
December 31, 2010 |
December 31, 2010 |
||||||||||||||||
| Operating |
||||||||||||||||||||
| Net earnings attributable to Motorola Solutions, Inc. |
$ | 69 | $ | 162 | $ | 110 | $ | 292 | $ | 633 | ||||||||||
| Earnings (loss) attributable to the noncontrolling interests |
(1 | ) | 4 | 2 | 12 | 17 | ||||||||||||||
| Net earnings |
68 | 166 | 112 | 304 | 650 | |||||||||||||||
| Earnings (loss) from discontinued operations, net of tax |
(28 | ) | 159 | 118 | 125 | 374 | ||||||||||||||
| Earnings (loss) from continuing operations |
96 | 7 | (6 | ) | 179 | 276 | ||||||||||||||
| Adjustments to reconcile loss from continuing operations to net cash provided by operating activities: |
||||||||||||||||||||
| Depreciation and amortization |
87 | 85 | 85 | 85 | 342 | |||||||||||||||
| Non-cash other income |
(32 | ) | (7 | ) | (22 | ) | (13 | ) | (74 | ) | ||||||||||
| Share-based compensation expense |
33 | 36 | 39 | 36 | 144 | |||||||||||||||
| Gains on sales of investments and businesses, net |
(7 | ) | (31 | ) | (5 | ) | (6 | ) | (49 | ) | ||||||||||
| Loss from the extinguishment of long-term debt |
— | 12 | — | — | 12 | |||||||||||||||
| Deferred income taxes, including change in valuation allowance |
18 | 237 | 143 | (14 | ) | 384 | ||||||||||||||
| Changes in assets and liabilities, net of effects of acquisitions and dispositions: |
||||||||||||||||||||
| Accounts receivable |
195 | (227 | ) | (48 | ) | (3 | ) | (83 | ) | |||||||||||
| Inventories |
(15 | ) | (21 | ) | (54 | ) | (21 | ) | (111 | ) | ||||||||||
| Other current assets |
(70 | ) | 80 | (63 | ) | 5 | (48 | ) | ||||||||||||
| Accounts payable and accrued liabilities |
(197 | ) | 53 | 326 | 151 | 333 | ||||||||||||||
| Other assets and liabilities |
(49 | ) | (121 | ) | (72 | ) | (66 | ) | (308 | ) | ||||||||||
| Net cash provided by operating activities |
59 | 103 | 323 | 333 | 818 | |||||||||||||||
| Investing |
||||||||||||||||||||
| Acquisitions and investments, net |
(3 | ) | (3 | ) | (1 | ) | (16 | ) | (23 | ) | ||||||||||
| Proceeds from sales (purchases) of investments and businesses, net |
18 | 221 | (1 | ) | 26 | 264 | ||||||||||||||
| Capital expenditures |
(37 | ) | (37 | ) | (37 | ) | (81 | ) | (192 | ) | ||||||||||
| Proceeds from sales of property, plant and equipment |
27 | — | — | — | 27 | |||||||||||||||
| Proceeds from sales (purchases) of Sigma Fund investments, net |
(116 | ) | (132 | ) | 278 | 423 | 453 | |||||||||||||
| Proceeds from sales (purchases) of short-term investments, net |
(4 | ) | (19 | ) | 17 | — | (6 | ) | ||||||||||||
| Net cash provided by (used for) investing activities |
(115 | ) | 30 | 256 | 352 | 523 | ||||||||||||||
| Financing |
||||||||||||||||||||
| Repayment of short-term borrowings, net |
(4 | ) | (1 | ) | — | — | (5 | ) | ||||||||||||
| Repayment of debt |
(1 | ) | (480 | ) | (3 | ) | (527 | ) | (1,011 | ) | ||||||||||
| Issuance of common stock |
63 | 5 | 84 | 27 | 179 | |||||||||||||||
| Distribution from discontinued operations |
398 | 133 | 99 | 152 | 782 | |||||||||||||||
| Net cash provided by (used for) financing activities |
456 | (343 | ) | 180 | (348 | ) | (55 | ) | ||||||||||||
| Discontinued Operations |
||||||||||||||||||||
| Net cash provided by operating activities from discontinued operations |
424 | 143 | 266 | 321 | 1,154 | |||||||||||||||
| Net cash used for investing activities from discontinued operations |
(49 | ) | (39 | ) | (72 | ) | (183 | ) | (343 | ) | ||||||||||
| Net cash used for financing activities from discontinued operations |
(398 | ) | (133 | ) | (99 | ) | (152 | ) | (782 | ) | ||||||||||
| Effect of exchange rate changes on cash and cash equivalents from discontinued operations |
23 | 29 | (95 | ) | 14 | (29 | ) | |||||||||||||
| Net cash provided by (used for) discontinued operations |
— | — | — | — | — | |||||||||||||||
| Effect of exchange rate changes on cash and cash equivalents |
(81 | ) | (85 | ) | 196 | 23 | 53 | |||||||||||||
| Net increase (decrease) in cash and cash equivalents |
319 | (295 | ) | 955 | 360 | 1,339 | ||||||||||||||
| Cash and cash equivalents, beginning of period |
2,869 | 3,188 | 2,893 | 3,848 | 2,869 | |||||||||||||||
| Cash and cash equivalents, end of period |
$ | 3,188 | $ | 2,893 | $ | 3,848 | $ | 4,208 | $ | 4,208 | ||||||||||
Motorola Solutions, Inc. and Subsidiaries
Pro Forma Consolidated Statements of Cash Flows
(Unaudited)
(In millions)
| Year Ended | ||||||||
| December 31, 2009 |
December 31, 2008 |
|||||||
| Operating |
||||||||
| Net loss attributable to Motorola Solutions, Inc. |
$ | (51 | ) | $ | (4,244 | ) | ||
| Earnings attributable to the noncontrolling interests |
23 | 4 | ||||||
| Net loss |
(28 | ) | (4,240 | ) | ||||
| Loss from discontinued operations, net of tax |
(500 | ) | (762 | ) | ||||
| Earnings (loss) from continuing operations |
472 | (3,478 | ) | |||||
| Adjustments to reconcile loss from continuing operations to net cash provided by operating activities: |
||||||||
| Depreciation and amortization |
388 | 403 | ||||||
| Non-cash other charges (income) |
(72 | ) | 2,280 | |||||
| Share-based compensation expense |
137 | 130 | ||||||
| Gains on sales of investments and businesses, net |
(108 | ) | (64 | ) | ||||
| Loss from the extinguishment of long-term debt |
(67 | ) | (14 | ) | ||||
| Deferred income taxes, including change in valuation allowance |
47 | 2,573 | ||||||
| Changes in assets and liabilities, net of effects of acquisitions and dispositions: |
||||||||
| Accounts receivable |
102 | 13 | ||||||
| Inventories |
111 | (64 | ) | |||||
| Other current assets |
276 | (40 | ) | |||||
| Accounts payable and accrued liabilities |
(621 | ) | (222 | ) | ||||
| Other assets and liabilities |
(11 | ) | (633 | ) | ||||
| Net cash provided by operating activities |
654 | 884 | ||||||
| Investing |
||||||||
| Acquisitions and investments, net |
(17 | ) | (208 | ) | ||||
| Proceeds from sales of investments and businesses, net |
357 | 113 | ||||||
| Capital expenditures |
(136 | ) | (257 | ) | ||||
| Proceeds from sales of property, plant and equipment |
1 | 119 | ||||||
| Proceeds from sales (purchases) of Sigma Fund investments, net |
(922 | ) | 853 | |||||
| Proceeds from sales of short-term investments, net |
186 | 424 | ||||||
| Net cash provided by (used for) investing activities |
(531 | ) | 1,044 | |||||
| Financing |
||||||||
| Repayment of short-term borrowings, net |
(86 | ) | (50 | ) | ||||
| Repayment of debt |
(132 | ) | (225 | ) | ||||
| Issuance of common stock |
116 | 145 | ||||||
| Repurchase of common stock |
— | (138 | ) | |||||
| Proceeds from settlements of financial instruments |
— | 158 | ||||||
| Payment of dividends |
(114 | ) | (453 | ) | ||||
| Distribution to discontinued operations |
(94 | ) | (838 | ) | ||||
| Other, net |
6 | 8 | ||||||
| Net cash used for financing activities |
(304 | ) | (1,393 | ) | ||||
| Discontinued Operations |
||||||||
| Net cash used for operating activities from discontinued operations |
(25 | ) | (658 | ) | ||||
| Net cash used for investing activities from discontinued operations |
(137 | ) | (324 | ) | ||||
| Net cash provided by financing activities from discontinued operations |
94 | 838 | ||||||
| Effect of exchange rate changes on cash and cash equivalents from discontinued operations |
68 | 144 | ||||||
| Net cash provided by (used for) discontinued operations |
— | — | ||||||
| Effect of exchange rate changes on cash and cash equivalents |
(14 | ) | (223 | ) | ||||
| Net increase (decrease) in cash and cash equivalents |
(195 | ) | 312 | |||||
| Cash and cash equivalents, beginning of period |
3,064 | 2,752 | ||||||
| Cash and cash equivalents, end of period |
$ | 2,869 | $ | 3,064 | ||||