Zebra Technologies Files 2024 10-K

TL;DR

Zebra Tech's 2024 10-K is in. Full financials and biz details out now.

AI Summary

Zebra Technologies Corp. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 31, 2024. The filing provides a comprehensive overview of the company's financial performance, business operations, and risk factors. Key financial data and operational details are presented for the fiscal year 2024, with comparisons to prior periods.

Why It Matters

This filing provides investors and analysts with the official year-end financial picture of Zebra Technologies, crucial for understanding its performance and future outlook.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the inherent risks of the technology and manufacturing sectors, as detailed within the full report, warrant a medium risk assessment.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K)
• 2023 — Prior Fiscal Year (For comparative financial analysis)
• 2022 — Prior Fiscal Year (For comparative financial analysis)

Key Players & Entities

• ZEBRA TECHNOLOGIES CORP (company) — Filer
• 0000877212 (company) — Central Index Key
• 20241231 (date) — Fiscal Year End
• 20250213 (date) — Filing Date
• LINCOLNSHIRE, IL (location) — Business Address

FAQ

Key Financial Figures

• $881 million — Electronic Systems Ltd. ("Matrox") for $881 million in cash, net of Matrox's cash on-hand.

Filing Documents

• zbra-20241231.htm (10-K) — 2134KB
• ex19securitiestransactio.htm (EX-19) — 24KB
• exhibit21-subsidiariesofth.htm (EX-21) — 17KB
• ex23consentofernstyoungllp.htm (EX-23) — 5KB
• a311exhibit-signedq42024.htm (EX-31.1) — 10KB
• a312exhibit-signedq42024.htm (EX-31.2) — 10KB
• a321exhibit-signedq42024.htm (EX-32.1) — 5KB
• a322exhibit-signedq42024.htm (EX-32.2) — 5KB
• ex19securitiestransactio001.jpg (GRAPHIC) — 177KB
• ex19securitiestransactio002.jpg (GRAPHIC) — 221KB
• ex19securitiestransactio003.jpg (GRAPHIC) — 256KB
• ex19securitiestransactio004.jpg (GRAPHIC) — 214KB
• ex19securitiestransactio005.jpg (GRAPHIC) — 265KB
• ex19securitiestransactio006.jpg (GRAPHIC) — 199KB
• ex19securitiestransactio007.jpg (GRAPHIC) — 236KB
• ex19securitiestransactio008.jpg (GRAPHIC) — 92KB
• zbra-20241231_g1.jpg (GRAPHIC) — 306KB
• 0000877212-25-000027.txt ( ) — 14790KB
• zbra-20241231.xsd (EX-101.SCH) — 70KB
• zbra-20241231_cal.xml (EX-101.CAL) — 130KB
• zbra-20241231_def.xml (EX-101.DEF) — 343KB
• zbra-20241231_lab.xml (EX-101.LAB) — 919KB
• zbra-20241231_pre.xml (EX-101.PRE) — 665KB
• zbra-20241231_htm.xml (XML) — 1972KB

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24

Properties

Item 2. Properties 25

Legal Proceedings

Item 3. Legal Proceedings 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27

[Reserved]

Item 6. [Reserved] 29

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Overview 30 Results of Operations 31 Liquidity and Capital Resources 34 Critical Accounting Estimates 37 New Accounting Pronouncements 38 Non-GAAP Measures 38

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 39

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 40 Report of Independent Registered Public Accounting Firm 41 Consolidated Balance Sheets 43 Consolidated Statements of Operations 44 Consolidated Statements of Comprehensive Income 45 Consolidated Statements of Stockholders' Equity 46 Consolidated Statements of Cash Flows 47

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 48 Note 1: Description of Business and Basis of Presentation 48 Note 2: Significant Accounting Policies 48 Note 3: Revenues 52 Note 4: Inventories 54 Note 5: Business Acquisitions 54 Note 6: Goodwill and Other Intangibles 55 Note 7: Property, Plant and Equipment 56 Note 8: Investments 56 Note 9: Exit and Restructuring Costs 56 Note 10: Fair Value Measurements 56 Note 11: Derivative Instruments 57 Note 12: Long-Term Debt 60 Note 13: Leases 61 Note 14: Accrued Liabilities, Commitments and Contingencies 63 Note 15: Share-Based Compensation 64 Note 16: Income Taxes 66 2 Table of Contents Note 17: Earnings Per Share 69 Note 18: Accumulated Other Comprehensive (Loss) Income 70 Note 19: Accounts Receivables Factoring 70 Note 20: Segment Information & Geographic Data 71

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 73

Controls and Procedures

Item 9A. Controls and Procedures 73

Other Information

Item 9B. Other Information 75

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 75 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 76

Executive Compensation

Item 11. Executive Compensation 76

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 76

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 76

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 76 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 77

Form 10-K Summary

Item 16. Form 10-K Summary 80

Signatures

Signatures 81 3 Table of Contents PART I References in this document to "the Company," "we," "us," or "our" refer to Zebra Technologies Corporation and its subsidiaries, unless the context specifically indicates otherwise. Safe Harbor Forward-looking statements contained in this filing are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995 and are highly dependent upon a variety of important factors, which could cause actual results to differ materially from those expressed or implied in such forward-looking statements. When used in this document and documents referenced, the words "anticipate," "expect," "believe," "intend," "estimate," "will," "plan," "goal," "target," and "strategy" and similar expressions or future conditional verbs such as "may," "will," "should," "would," and "could" as they relate to the Company or its management are intended to identify such forward-looking statements but are not the exclusive means of identifying these statements. Actual results may differ materially from those expressed or implied by forward-looking statements. Any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing the Company's views as of any subsequent date. The forward-looking statements include, but are not limited to, the Company's financial outlook for the first quarter and full year of 2025. These forward-looking statements are based on current expectations, forecasts and assumptions, and are subject to the risks and uncertainties inherent in the Company's industry, market conditions, general domestic and international economic conditions, and other factors. These factors include: Market acceptance of the Company's products, services, and software solutions and competitors' offerings and the potential effects of emerging technologies and changes in customer requirements, The effect of global market conditions, including the North America; EMEA;

Business

Item 1. Business The Company We are a global leader in the Automatic Identification and Data Capture ("AIDC") industry. The AIDC market consists of mobile computing, data capture, radio frequency identification devices ("RFID"), thermal barcode printing, and other workflow automation products and services. The Company's products, services, and software solutions ("offerings") are proven to help our customers and end-users digitize and automate their workflows to achieve their critical business objectives, including improved productivity and operational efficiency, optimized regulatory compliance, and better customer experiences. We design, manufacture, and sell a broad range of AIDC offerings, including: mobile computers, barcode scanners and imagers, RFID readers, specialty printers for barcode labeling and personal identification, real-time location systems ("RTLS"), related accessories and supplies, such as labels and other consumables, and related software applications. We also provide machine vision and robotics automation solutions; a full range of services, including maintenance, technical support, repair, 4 Table of Contents managed and professional services; as well as cloud-based software subscriptions. End-users of our offerings include those in retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries. We operate in 114 facilities with approximately 9,900 employees worldwide. We provide our offerings globally through a direct sales force and an extensive network of over 10,000 channel partners, operating in approximately 176 countries. We continue to advance our Enterprise Asset Intelligence ("EAI") vision: every asset and front-line worker visible, connected, and fully optimized. Through continual innovation, we have expanded beyond the traditional AIDC market to transform activities such as factory production, packages moving through a supply chain, retail shopping, the hospital pati

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View this 10-K filing on SEC EDGAR