Motorola Solutions Inc
For the period ended Mar 30, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 30, 2024 · Filed May 2, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended March 30, 2024
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission file number:1-7221
MOTOROLA SOLUTIONS, INC.
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 36-1115800 |
|---|---|
| (State of Incorporation) | (I.R.S. Employer Identification No.) |
500 W. Monroe Street, Chicago, Illinois 60661
(Address of Principal Executive Offices, Zip Code)
(847)576-5000
(Registrant’s Telephone Number, Including Area Code)
Not applicable
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class · Trading Symbol(s) · Name of Each Exchange on Which Registered | ||||
|---|---|---|---|---|
| Common Stock | $0.01 | Par Value | MSI | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer” “accelerated filer” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
| Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒
The number of shares of the registrant's Common Stock, $0.01 par value per share, outstanding as of April 26, 2024 was 166,787,080.
| TABLE OF CONTENTS | ||
|---|---|---|
| PART I. FINANCIAL INFORMATION | Page No. | |
| 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 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 25 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 33 |
| Item 4. | Controls and Procedures | 33 |
| PART II. OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 34 |
| Item 1A. | Risk Factors | 34 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 35 |
| Item 3. | Defaults Upon Senior Securities | 35 |
| Item 4. | Mine Safety Disclosures | 35 |
| Item 5. | Other Information | 35 |
| Item 6. | Exhibits | 36 |
| Signatures | 37 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.