Motorola Solutions, Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Motorola Solutions, Inc. filed its Q1 2024 10-Q report on May 2, 2024.</b>

AI Summary

Motorola Solutions, Inc. (MSI) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Motorola Solutions, Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. The filing was made on May 2, 2024. The company's principal business address is 500 W. Monroe St., Chicago, IL 60661.

Why It Matters

For investors and stakeholders tracking Motorola Solutions, Inc., this filing contains several important signals. This 10-Q filing provides a quarterly update on Motorola Solutions' financial performance and operational status, crucial for investors to assess recent business trends. Understanding the details within this report allows stakeholders to evaluate the company's progress against its strategic goals and market position in the communications equipment sector.

Risk Assessment

Risk Level: low — Motorola Solutions, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent unusual or high-risk disclosures.

Analyst Insight

Monitor future filings for detailed financial results and segment performance to assess growth trends and strategic execution.

Key Numbers

• 2024-03-30 — Reporting Period End Date (Conformed period of report)
• 2024-05-02 — Filing Date (Filed as of date)
• 12/31 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Motorola Solutions, Inc. (company) — Filer name
• 2024-03-30 (date) — Conformed period of report
• 2024-05-02 (date) — Filed as of date
• 500 W. Monroe St., Chicago, IL 60661 (address) — Business address
• MOTOROLA INC (company) — Former company name
• MOTOROLA DELAWARE INC (company) — Former company name
• MSI (ticker) — Ticker symbol

FAQ

Industry Context

Motorola Solutions operates in the radio and TV broadcasting and communications equipment industry.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the requirement to submit 10-Q reports quarterly.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze segment performance for Products and Services to understand revenue drivers.
3. Compare current quarter results with historical data to identify trends.

Key Dates

• 2024-03-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year's filings.

Key Financial Figures

• $0.01 — hange on Which Registered Common Stock $0.01 Par Value MSI New York Stock Exchange

Filing Documents

• msi-20240330.htm (10-Q) — 1307KB
• exhibit101-2024x2026lripte.htm (EX-10.1) — 23KB
• msiex311q12024.htm (EX-31.1) — 10KB
• msiex312q12024.htm (EX-31.2) — 10KB
• msiex321q12024.htm (EX-32.1) — 5KB
• msiex322q12024.htm (EX-32.2) — 5KB
• 0000068505-24-000016.txt (&nbsp;) — 9253KB
• msi-20240330.xsd (EX-101.SCH) — 67KB
• msi-20240330_cal.xml (EX-101.CAL) — 107KB
• msi-20240330_def.xml (EX-101.DEF) — 359KB
• msi-20240330_lab.xml (EX-101.LAB) — 780KB
• msi-20240330_pre.xml (EX-101.PRE) — 615KB
• msi-20240330_htm.xml (XML) — 1468KB

FI NANCIAL INFORMATION

PART I. FI NANCIAL INFORMATION Page No.

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 1 Condensed Consolidated Statements of Operations for the Three Months Ended March 30, 2024 and April 1, 2023 1 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 30, 2024 and April 1, 2023 2 Condensed Consolidated Balance Sheets as of March 30, 2024 and April 1, 2023 3 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 30, 2024 and April 1, 2023 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 30, 2024 and April 1, 2023 5 Index for Notes to Condensed Consolidated Financial Statements 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 35

Other Information

Item 5. Other Information 35

Exhibits

Item 6. Exhibits 36

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Statements of Operations (Unaudited) (In millions, except per share amounts) Three Months Ended March 30, 2024 April 1, 2023 Net sales from products $ 1,405 $ 1,224 Net sales from services 984 947 Net sales 2,389 2,171 Costs of products sales 600 576 Costs of services sales 597 549 Costs of sales 1,197 1,125 Gross margin 1,192 1,046 Selling, general and administrative expenses 397 368 Research and development expenditures 218 210 Other charges 58 69 Operating earnings 519 399 Other income (expense): Interest expense, net ( 44 ) ( 54 ) Gain on sales of investments and businesses, net — 1 Other, net ( 565 ) 12 Total other expense ( 609 ) ( 41 ) Earnings (loss) before income taxes ( 90 ) 358 Income tax expense (benefit) ( 52 ) 79 Net earnings (loss) ( 38 ) 279 Less: Earnings attributable to non-controlling interests 1 1 Net earnings (loss) attributable to Motorola Solutions, Inc. $ ( 39 ) $ 278 Earnings (loss) per common share: Basic $ ( 0.23 ) $ 1.66 Diluted $ ( 0.23 ) $ 1.61 Weighted average common shares outstanding: Basic 166.3 167.4 Diluted 166.3 172.6 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 1 Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended (In millions) March 30, 2024 April 1, 2023 Net earnings (loss) $ ( 38 ) $ 279 Foreign currency translation adjustments ( 24 ) 36 Derivative instruments 4 — Defined benefit plans 7 12 Total other comprehensive income (loss), net of tax ( 13 ) 48 Comprehensive income (loss) ( 51 ) 327 Less: Earnings attributable to non-controlling interests 1 1 Comprehensive income (loss) attributable to Motorola Solutions, Inc. common shareholders $ ( 52 ) $ 326 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 2 Condensed Consolidated Balance Sheets (Unaudited) (In millions, except par value) March 30, 2024 December 31, 2023

View Full Filing

View this 10-Q filing on SEC EDGAR