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Midas Edge

ZEBRA TECHNOLOGIES CORP

For the period ended Jun 29, 2024. Filed Jul 30, 2024.

View on SEC.gov

About this filing

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.

Jun 29, 2024 · Filed Jul 30, 2024

ZBRA$321.38-1.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Consolidated Financial Statements

CONSOLIDATED BALANCE SHEETS

June 29,2024December 31,2023
(Unaudited)
Assets
Current assets:
Cash and cash equivalents$411$137
Accounts receivable, net of allowances for doubtful accounts of $1 each as of June 29, 2024 and December 31, 2023701521
Inventories, net678804
Income tax receivable4163
Prepaid expenses and other current assets122147
Total Current assets1,9531,672
Property, plant and equipment, net297309
Right-of-use lease assets159169
Goodwill3,8943,895
Other intangibles, net476527
Deferred income taxes469438
Other long-term assets242296
Total Assets$7,490$7,306
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt$89$173
Accounts payable551456
Accrued liabilities426504
Deferred revenue447458
Income taxes payable97
Total Current liabilities1,5221,598
Long-term debt2,0802,047
Long-term lease liabilities145152
Deferred income taxes6667
Long-term deferred revenue298312
Other long-term liabilities9294
Total Liabilities4,2034,270
Stockholders’ Equity:
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued——
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares11
Additional paid-in capital633615
Treasury stock at cost, 20,581,866 and 20,772,995 shares as of June 29, 2024 and December 31, 2023, respectively(1,855)(1,858)
Retained earnings4,5604,332
Accumulated other comprehensive loss(52)(54)
Total Stockholders’ Equity3,2873,036
Total Liabilities and Stockholders’ Equity$7,490$7,306

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months EndedSix Months Ended
June 29,2024July 1,2023June 29,2024July 1,2023
Net sales:
Tangible products$983$986$1,912$2,156
Services and software234228480463
Total Net sales1,2171,2142,3922,619
Cost of sales:
Tangible products5155221,0131,140
Services and software113111227231
Total Cost of sales6286331,2401,371
Gross profit5895811,1521,248
Operating expenses:
Selling and marketing150146298307
Research and development146130284276
General and administrative9769178168
Amortization of intangible assets25265152
Acquisition and integration costs1222
Exit and restructuring costs3141324
Total Operating expenses422387826829
Operating income167194326419
Other income (loss), net:
Foreign exchange (loss) gain—(5)3(4)
Interest expense, net(23)(16)(40)(53)
Other expense, net(8)(2)(11)(6)
Total Other expense, net(31)(23)(48)(63)
Income before income tax136171278356
Income tax expense23275062
Net income$113$144$228$294
Basic earnings per share$2.19$2.80$4.43$5.72
Diluted earnings per share$2.17$2.78$4.40$5.68

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In millions)

Three Months EndedSix Months Ended
June 29,2024July 1,2023June 29,2024July 1,2023
Net income$113$144$228$294
Other comprehensive income (loss), net of tax:
Changes in unrealized gains on sales hedging14101
Foreign currency translation adjustment(3)2(8)5
Comprehensive income$111$150$230$300

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

Class A Common Stock SharesClass A Common Stock ValueAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
Balance at December 31, 202351,378,862$1$615$(1,858)$4,332$(54)$3,036
Issuances of treasury shares related to share-based compensation plans, net of forfeitures21,312—(3)———(3)
Shares withheld to fund withholding tax obligations related to share-based compensation plans(206)——————
Share-based compensation——17———17
Net income————115—115
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————99
Foreign currency translation adjustment—————(5)(5)
Balance at March 30, 202451,399,968$1$629$(1,858)$4,447$(50)$3,169
Issuances of treasury shares related to share-based compensation plans, net of forfeitures170,023—(27)3——(24)
Share-based compensation——31———31
Net income————113—113
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————11
Foreign currency translation adjustment—————(3)(3)
Balance at June 29, 202451,569,991$1$633$(1,855)$4,560$(52)$3,287
Class A Common Stock SharesClass A Common Stock ValueAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
Balance at December 31, 202251,451,500$1$561$(1,799)$4,036$(66)$2,733
Issuances of treasury shares related to share-based compensation plans, net of forfeitures29,784—5———5
Shares withheld to fund withholding tax obligations related to share-based compensation plans(504)——————
Share-based compensation——18———18
Repurchase of common stock(55,811)——(15)——(15)
Net income————150—150
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————(3)(3)
Foreign currency translation adjustment—————33
Balance at April 1, 202351,424,969$1$584$(1,814)$4,186$(66)$2,891
Issuances of treasury shares related to share-based compensation plans, net of forfeitures75,271—(6)1——(5)
Shares withheld to fund withholding tax obligations related to share-based compensation plans(28,795)——(9)——(9)
Share-based compensation——2———2
Repurchase of common stock(138,508)——(37)——(37)
Net income————144—144
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————44
Foreign currency translation adjustment—————22
Balance at July 1, 202351,332,937$1$580$(1,859)$4,330$(60)$2,992
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.