Motorola Solutions Inc
For the period ended Sep 28, 2024. Filed Nov 7, 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.
Sep 28, 2024 · Filed Nov 7, 2024
MSI$514.51-0.5%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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PART I. FIFinancial Statements (Unaudited)
PART I—FINANCIAL INFORMATION
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 |
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