Motorola Solutions Files Q3 2024 10-Q Report

TL;DR

MSI 10-Q filed. Financials for Q3 2024 out.

AI Summary

Motorola Solutions, Inc. filed its 10-Q report for the period ending September 28, 2024. The filing details financial performance and operational updates for the company, which is a key player in the radio and TV broadcasting and communications equipment industry.

Why It Matters

This filing provides investors and stakeholders with a detailed look into Motorola Solutions' financial health and strategic direction for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

• Motorola Solutions, Inc. (company) — Filer of the 10-Q report
• 0000068505-24-000034.txt (document) — Accession number for the filing
• 20240928 (date) — End of the reporting period
• 20241107 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• msi-20240928.htm (10-Q) — 1892KB
• msiex311q32024.htm (EX-31.1) — 10KB
• msiex312q32024.htm (EX-31.2) — 10KB
• msiex321q32024.htm (EX-32.1) — 5KB
• msiex322q32024.htm (EX-32.2) — 5KB
• 0000068505-24-000034.txt ( ) — 11046KB
• msi-20240928.xsd (EX-101.SCH) — 67KB
• msi-20240928_cal.xml (EX-101.CAL) — 104KB
• msi-20240928_def.xml (EX-101.DEF) — 348KB
• msi-20240928_lab.xml (EX-101.LAB) — 806KB
• msi-20240928_pre.xml (EX-101.PRE) — 616KB
• msi-20240928_htm.xml (XML) — 2047KB

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 and Nine Months Ended September 28, 2024 and September 30 , 2023 1 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 28 , 2024 and September 30 , 2023 2 Condensed Consolidated Balance Sheets as of September 28 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended Sept ember 2 8 , 2024 and September 30 , 2023 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 28 , 2024 and September 30 , 2023 6 Index for Notes to Condensed Consolidated Financial Statements 7 Notes to Condensed Consolidated Financial Statements 8

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 29

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45

—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 Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales from products $ 1,670 $ 1,490 $ 4,639 $ 4,063 Net sales from services 1,120 1,066 3,167 3,066 Net sales 2,790 2,556 7,806 7,129 Costs of products sales 688 658 1,941 1,867 Costs of services sales 669 618 1,902 1,747 Costs of sales 1,357 1,276 3,843 3,614 Gross margin 1,433 1,280 3,963 3,515 Selling, general and administrative expenses 439 380 1,265 1,138 Research and development expenditures 234 215 671 640 Other charges 49 46 153 181 Operating earnings 711 639 1,874 1,556 Other income (expense): Interest expense, net ( 58 ) ( 53 ) ( 171 ) ( 164 ) Loss on sales of investments and businesses, net — ( 1 ) — — Other, net 42 7 ( 519 ) 46 Total other expense ( 16 ) ( 47 ) ( 690 ) ( 118 ) Net earnings before income taxes 695 592 1,184 1,438 Income tax expense 132 127 214 321 Net earnings 563 465 970 1,117 Less: Earnings attributable to non-controlling interests 1 1 4 4 Net earnings attributable to Motorola Solutions, Inc. $ 562 $ 464 $ 966 $ 1,113 Earnings per common share: Basic $ 3.36 $ 2.78 $ 5.79 $ 6.66 Diluted $ 3.29 $ 2.70 $ 5.66 $ 6.46 Weighted average common shares outstanding: Basic 167.1 166.7 166.7 167.2 Diluted 170.9 171.7 170.6 172.2 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 1 Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended Nine Months Ended (In millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net earnings $ 563 $ 465 $ 970 $ 1,117 Foreign currency translation adjustments 72 ( 70 ) 45 ( 7 ) Derivative instruments — — 4 — Defined benefit plans 7 12 21 37 Total other comprehensive income (loss), net of tax 79 ( 58 ) 70 30 Comprehensive income 642 407 1,

View Full Filing

View this 10-Q filing on SEC EDGAR