Attached files
| file | filename |
|---|---|
| EX-99.1 - UNAUDITED PRO FORMA CONSOLIDATED STATEMENTS OF CASH FLOWS - Motorola Solutions, Inc. | dex991.htm |
| 8-K - FORM 8-K - Motorola Solutions, Inc. | d8k.htm |
Exhibit 99.2
Motorola Solutions, Inc. and Subsidiaries
Segment Information
(In millions)
Summarized below are the Company’s Net sales and Operating earnings (loss) by the Company’s new reporting segments for the four quarters of 2010 and 2009, and for the full fiscal years of 2010, 2009 and 2008.
Net Sales
| Q1 2010 | Q2 2010 | Q3 2010 | Q4 2010 | 2010 | ||||||||||||||||
| Government |
$ | 1,132 | $ | 1,262 | $ | 1,267 | $ | 1,474 | $ | 5,135 | ||||||||||
| Enterprise |
608 | 674 | 682 | 772 | 2,736 | |||||||||||||||
| Company Totals |
$ | 1,740 | $ | 1,936 | $ | 1,949 | $ | 2,246 | $ | 7,871 | ||||||||||
| Q1 2009 | Q2 2009 | Q3 2009 | Q4 2009 | 2009 | ||||||||||||||||
| Government |
$ | 1,112 | $ | 1,174 | $ | 1,235 | $ | 1,355 | $ | 4,876 | ||||||||||
| Enterprise |
556 | 558 | 562 | 628 | 2,304 | |||||||||||||||
| Company Totals |
$ | 1,668 | $ | 1,732 | $ | 1,797 | $ | 1,983 | $ | 7,180 | ||||||||||
| 2008 | ||||||||||||||||||||
| Government |
$ | 5,259 | ||||||||||||||||||
| Enterprise |
2,881 | |||||||||||||||||||
| Company Totals |
$ | 8,140 | ||||||||||||||||||
Operating Earnings (Loss)
| Q1 2010 | Q2 2010 | Q3 2010 | Q4 2010 | 2010 | ||||||||||||||||
| Government |
$ | 92 | $ | 117 | $ | 167 | $ | 190 | $ | 566 | ||||||||||
| Enterprise |
28 | 44 | 52 | 88 | 212 | |||||||||||||||
| Company Totals |
$ | 120 | $ | 161 | $ | 219 | $ | 278 | $ | 778 | ||||||||||
| Q1 2009 | Q2 2009 | Q3 2009 | Q4 2009 | 2009 | ||||||||||||||||
| Government |
$ | 42 | $ | 139 | $ | 159 | $ | 202 | $ | 542 | ||||||||||
| Enterprise |
(40 | ) | 19 | 1 | 48 | 28 | ||||||||||||||
| Company Totals |
$ | 2 | $ | 158 | $ | 160 | $ | 250 | $ | 570 | ||||||||||
| 2008 | ||||||||||||||||||||
| Government |
$ | 630 | ||||||||||||||||||
| Enterprise |
(1,309 | ) | ||||||||||||||||||
| Company Totals |
$ | (679 | ) | |||||||||||||||||
Motorola Solutions, Inc.
Operating Earnings after Non-GAAP Adjustments
Q1 2010
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 1,740 | $ | 1,132 | $ | 608 | ||||||||
| Operating earnings |
$ | 120 | $ | 92 | $ | 28 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 1 | 1 | — | ||||||||||
| Stock-based compensation expense |
Cost of sales | 4 | 3 | 1 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 29 | 19 | 10 | ||||||||||
| Reorganization of business charges |
Other charges (income) | (1 | ) | (1 | ) | — | ||||||||
| Legal settlement |
Other charges (income) | (29 | ) | (19 | ) | (10 | ) | |||||||
| Intangibles amortization expense |
Intangibles amortization | 51 | 3 | 48 | ||||||||||
| Total above-OE non-GAAP adjustments |
55 | 6 | 49 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 175 | $ | 98 | $ | 77 | ||||||||
| Operating earnings as a percentage of net sales - GAAP |
6.9 | % | 8.1 | % | 4.6 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
10.1 | % | 8.7 | % | 12.7 | % | ||||||||
| Q2 2010
|
| |||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 1,936 | $ | 1,262 | $ | 674 | ||||||||
| Operating earnings |
$ | 161 | $ | 117 | $ | 44 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 6 | 5 | 1 | ||||||||||
| Stock-based compensation expense |
Cost of sales | 4 | 3 | 1 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 32 | 21 | 11 | ||||||||||
| Reorganization of business charges |
Other charges (income) | 14 | 10 | 4 | ||||||||||
| Intangibles amortization expense |
Intangibles amortization | 50 | 2 | 48 | ||||||||||
| Total above-OE non-GAAP adjustments |
106 | 41 | 65 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 267 | $ | 158 | $ | 109 | ||||||||
| Operating earnings as a percentage of net sales - GAAP |
8.3 | % | 9.3 | % | 6.5 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
13.8 | % | 12.5 | % | 16.2 | % | ||||||||
| Q3 2010
|
| |||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 1,949 | $ | 1,267 | $ | 682 | ||||||||
| Operating earnings |
$ | 219 | $ | 167 | $ | 52 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 5 | 5 | — | ||||||||||
| Stock-based compensation expense |
Cost of sales | 6 | 5 | 1 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 33 | 21 | 12 | ||||||||||
| Reorganization of business charges |
Other charges (income) | 22 | 22 | — | ||||||||||
| IP reserve adjustment |
Other charges (income) | (39 | ) | (39 | ) | — | ||||||||
| Intangibles amortization expense |
Intangibles amortization | 51 | 2 | 49 | ||||||||||
| Total above-OE non-GAAP adjustments |
78 | 16 | 62 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 297 | $ | 183 | $ | 114 | ||||||||
| Operating earnings as a percentage of net sales - GAAP |
11.2 | % | 13.2 | % | 7.6 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
15.2 | % | 14.4 | % | 16.7 | % | ||||||||
| Q4 2010
|
| |||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 2,246 | $ | 1,474 | $ | 772 | ||||||||
| Operating earnings |
$ | 278 | $ | 190 | $ | 88 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 7 | 4 | 3 | ||||||||||
| Stock-based compensation expense |
Cost of sales | 4 | 3 | 1 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 32 | 20 | 12 | ||||||||||
| Reorganization of business charges |
Other charges (income) | 19 | 11 | 8 | ||||||||||
| IP settlement |
Other charges (income) | (39 | ) | — | (39 | ) | ||||||||
| Intangibles amortization expense |
Intangibles amortization | 51 | 2 | 49 | ||||||||||
| Total above-OE non-GAAP adjustments |
74 | 40 | 34 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 352 | $ | 230 | $ | 122 | ||||||||
| Operating earnings as a percentage of net sales - GAAP |
12.4 | % | 12.9 | % | 11.4 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
15.7 | % | 15.6 | % | 15.8 | % | ||||||||
| 2010
|
| |||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 7,871 | $ | 5,135 | $ | 2,736 | ||||||||
| Operating earnings |
$ | 778 | $ | 566 | $ | 212 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 19 | 15 | 4 | ||||||||||
| Stock-based compensation expense |
Cost of sales | 18 | 14 | 4 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 126 | 81 | 45 | ||||||||||
| Reorganization of business charges |
Other charges (income) | 54 | 42 | 12 | ||||||||||
| Legal settlement |
Other charges (income) | (29 | ) | (19 | ) | (10 | ) | |||||||
| IP settlement and reserve adjustment |
Other charges (income) | (78 | ) | (39 | ) | (39 | ) | |||||||
| Intangibles amortization expense |
Intangibles amortization | 203 | 9 | 194 | ||||||||||
| Total above-OE non-GAAP adjustments |
313 | 103 | 210 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 1,091 | $ | 669 | $ | 422 | ||||||||
| Operating earnings as a percentage of net sales - GAAP |
9.9 | % | 11.0 | % | 7.7 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
13.9 | % | 13.0 | % | 15.4 | % | ||||||||
Motorola Solutions, Inc.
Operating Earnings after Non-GAAP Adjustments
Q1 2009
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 1,668 | $ | 1,112 | $ | 556 | ||||||||
| Operating earnings (loss) |
$ | 2 | $ | 42 | $ | (40 | ) | |||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 7 | 4 | 3 | ||||||||||
| Stock-based compensation expense |
Cost of sales | 4 | 3 | 1 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 31 | 20 | 11 | ||||||||||
| Reorganization of business charges |
Other charges | 48 | 27 | 21 | ||||||||||
| Intangibles amortization expense |
Intangibles amortization | 55 | 6 | 49 | ||||||||||
| Total above-OE non-GAAP adjustments |
145 | 60 | 85 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 147 | $ | 102 | $ | 45 | ||||||||
| Operating earnings (loss) as a percentage of net sales - GAAP |
0.1 | % | 3.8 | % | -7.2 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
8.8 | % | 9.2 | % | 8.1 | % | ||||||||
| Q2 2009 | ||||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 1,732 | $ | 1,174 | $ | 558 | ||||||||
| Operating earnings |
$ | 158 | $ | 139 | $ | 19 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 1 | 1 | — | ||||||||||
| Stock-based compensation expense |
Cost of sales | 4 | 2 | 2 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 30 | 19 | 11 | ||||||||||
| Reorganization of business and other exit charges |
Other charges | 12 | 7 | 5 | ||||||||||
| Legal settlement |
Other charges | (55 | ) | (35 | ) | (20 | ) | |||||||
| Intangibles amortization expense |
Intangibles amortization | 55 | 6 | 49 | ||||||||||
| Total above-OE non-GAAP adjustments |
47 | 0 | 47 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 205 | $ | 139 | $ | 66 | ||||||||
| Operating earnings as a percentage of net sales - GAAP |
9.1 | % | 11.8 | % | 3.4 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
11.8 | % | 11.8 | % | 11.8 | % | ||||||||
| Q3 2009 | ||||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 1,797 | $ | 1,235 | $ | 562 | ||||||||
| Operating earnings (loss) |
$ | 160 | $ | 159 | $ | 1 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Stock-based compensation expense |
Cost of sales | 4 | 3 | 1 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 31 | 20 | 11 | ||||||||||
| Environmental reserve |
Other charges | 24 | 16 | 8 | ||||||||||
| Intangibles amortization expense |
Intangibles amortization | 55 | 5 | 50 | ||||||||||
| Total above-OE non-GAAP adjustments |
114 | 44 | 70 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 274 | $ | 203 | $ | 71 | ||||||||
| Operating earnings (loss) as a percentage of net sales - GAAP |
8.9 | % | 12.9 | % | 0.2 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
15.2 | % | 16.4 | % | 12.6 | % | ||||||||
| Q4 2009 | ||||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 1,983 | $ | 1,355 | $ | 628 | ||||||||
| Operating earnings |
$ | 250 | $ | 202 | $ | 48 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 6 | 5 | 1 | ||||||||||
| Stock-based compensation expense |
Cost of sales | 4 | 1 | 3 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 29 | 18 | 11 | ||||||||||
| Legal settlements |
Other charges | (20 | ) | (15 | ) | (5 | ) | |||||||
| Reorganization of business and other exit charges |
Other charges | 28 | 23 | 5 | ||||||||||
| Intangibles amortization expense |
Intangibles amortization | 53 | 5 | 48 | ||||||||||
| Total above-OE non-GAAP adjustments |
100 | 37 | 63 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 350 | $ | 239 | $ | 111 | ||||||||
| Operating earnings as a percentage of net sales - GAAP |
12.6 | % | 14.9 | % | 7.6 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
17.7 | % | 17.6 | % | 17.7 | % | ||||||||
| 2009 | ||||||||||||||
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 7,180 | $ | 4,876 | $ | 2,304 | ||||||||
| Operating earnings (loss) |
$ | 570 | $ | 542 | $ | 28 | ||||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | 14 | 10 | 4 | ||||||||||
| Stock-based compensation expense |
Cost of sales | 16 | 9 | 7 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 121 | 77 | 44 | ||||||||||
| Reorganization of business and other exit charges |
Other charges | 88 | 57 | 31 | ||||||||||
| Environmental reserve |
Other charges | 24 | 16 | 8 | ||||||||||
| Legal settlements |
Other charges | (75 | ) | (50 | ) | (25 | ) | |||||||
| Intangibles amortization expense |
Intangibles amortization | 218 | 22 | 196 | ||||||||||
| Total above-OE non-GAAP adjustments |
406 | 141 | 265 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 976 | $ | 683 | $ | 293 | ||||||||
| Operating earnings (loss) after non-GAAP adjustments |
7.9 | % | 11.1 | % | 1.2 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
13.6 | % | 14.0 | % | 12.7 | % | ||||||||
Motorola Solutions, Inc.
Operating Earnings after Non-GAAP Adjustments
2008
| MSI | Government | Enterprise | ||||||||||||
| Net sales |
$ | 8,140 | $ | 5,259 | $ | 2,881 | ||||||||
| Operating earnings (loss) |
$ | (679 | ) | $ | 630 | $ | (1,309 | ) | ||||||
| Above-OE non-GAAP adjustments by P&L statement line: |
Statement Line | |||||||||||||
| Reorganization of business charges |
Cost of sales | $ | 5 | $ | 5 | $ | — | |||||||
| Stock-based compensation expense |
Cost of sales | 16 | 11 | 5 | ||||||||||
| Stock-based compensation expense |
SG&A and R&D | 115 | 75 | 40 | ||||||||||
| Asset impairment charges |
Other charges | 1,564 | — | 1,564 | ||||||||||
| Reorganization of business charges |
Other charges | 60 | 40 | 20 | ||||||||||
| Legal settlements, net |
Other charges | 14 | 9 | 5 | ||||||||||
| Gain on the sale of PP&E |
Other charges | (48 | ) | (31 | ) | (17 | ) | |||||||
| Intangibles amortization expense |
Intangibles amortization | 227 | 23 | 204 | ||||||||||
| Total above-OE non-GAAP adjustments |
1,953 | 132 | 1,821 | |||||||||||
| Operating earnings after non-GAAP adjustments |
$ | 1,274 | $ | 762 | $ | 512 | ||||||||
| Operating earnings (loss) as a percentage of net sales - GAAP |
-8.3 | % | 12.0 | % | -45.4 | % | ||||||||
| Operating earnings as a percentage of net sales - after non-GAAP adjustments |
15.7 | % | 14.5 | % | 17.8 | % | ||||||||