Motorola Solutions Inc

For the period ended Dec 31, 2023. Filed Feb 15, 2024.

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FY2023 · Filed Feb 15, 2024

MSI$527.97+2.6%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	Years ended December 31
(In millions, except per share amounts)	2023	2022	2021
Net sales from products	$5,814	$5,368	$4,606
Net sales from services	4,164	3,744	3,565
Net sales	9,978	9,112	8,171
Costs of products sales	2,591	2,595	2,104
Costs of services sales	2,417	2,288	2,027
Costs of sales	5,008	4,883	4,131
Gross margin	4,970	4,229	4,040
Selling, general and administrative expenses	1,561	1,450	1,353
Research and development expenditures	858	779	734
Other charges	257	339	286
Operating earnings	2,294	1,661	1,667
Other income (expense):
Interest expense, net	(216)	(226)	(208)
Gains on sales of investments and businesses, net	—	3	1
Other, net	68	77	92
Total other expense	(148)	(146)	(115)
Net earnings before income taxes	2,146	1,515	1,552
Income tax expense	432	148	302
Net earnings	1,714	1,367	1,250
Less: Earnings attributable to noncontrolling interests	5	4	5
Net earnings attributable to Motorola Solutions, Inc.	$1,709	$1,363	$1,245
Earnings per common share:
Basic	$10.23	$8.14	$7.36
Diluted	9.93	7.93	7.17
Weighted average common shares outstanding:
Basic	167.0	167.5	169.2
Diluted	172.1	171.9	173.6
Dividends declared per share	$3.62	$3.25	$2.92

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