About Motorola Solutions
Motorola Solutions is a leading provider of mission-critical communication solutions and services for enterprise and government customers. Through leading-edge innovation and communications technology, it is a global leader that enables its customers to be their best in the moments that matter. Motorola Solutions trades on the New York Stock Exchange under the ticker “MSI.” To learn more, visit www.motorolasolutions.com. For ongoing news, please visit our newsroom or subscribe to our news feed.
MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license. All other trademarks are the property of their respective owners. ©2014 Motorola Solutions, Inc. All rights reserved.
Non-GAAP-1 | ||||||||||||||||||
Motorola Solutions, Inc. and Subsidiaries | ||||||||||||||||||
Non-GAAP Adjustments (Intangibles Amortization Expense, Stock-Based Compensation Expense and Highlighted Items) | ||||||||||||||||||
Q1 2014 | ||||||||||||||||||
PBT | Tax | PAT | ||||||||||||||||
Highlighted Items | Statement Line | (Inc)/Exp | Inc/(Exp) | (Inc)/Exp | EPS impact | |||||||||||||
Intangibles amortization expense | Intangibles amortization | $ | 5 | $ | 1 | $ | 4 | $ | 0.02 | |||||||||
Share-based compensation expense | Cost of sales, SG&A and R&D | 36 | 11 | 25 | 0.10 | |||||||||||||
Reorganization of business charges | Cost of sales and Other charges | 22 | 6 | 16 | 0.06 | |||||||||||||
Gain on sale of building and land | Other charges | (21 | ) | (8 | ) | (13 | ) | (0.05 | ) | |||||||||
Recognition of previously unrecognized income tax benefits | Income tax expense | - | 30 | (30 | ) | (0.12 | ) | |||||||||||
Total impact on Net earnings | $ | 42 | $ | 40 | $ | 2 | $ | 0.01 |
Non-GAAP-2 | ||||
Motorola Solutions, Inc. and Subsidiaries | ||||
Operating Earnings after Non-GAAP Adjustments | ||||
Q1 2014 | ||||
Net sales | $ | 1,801 | ||
Operating earnings ("OE") | $ | 170 | ||
Above-OE non-GAAP adjustments: | ||||
Share-based compensation expense | 36 | |||
Reorganization of business charges | 22 | |||
Intangibles amortization expense | 5 | |||
Gain on sale of building and land | (21 | ) | ||
Total above-OE non-GAAP adjustments | 42 | |||
Operating earnings after non-GAAP adjustments | $ | 212 | ||
Operating earnings as a percentage of net sales - GAAP | 9.4 | % | ||
Operating earnings as a percentage of net sales - after non-GAAP adjustments | 11.8 | % |