Analysis of Debt
Total Debt (Carrying Amount)
Motorola Solutions Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Total long-term debt exhibited a consistent upward trajectory between 2019 and 2022, increasing from US$ 5,129 million to US$ 6,014 million. This represents a total growth of approximately 17.3% over the four-year period. By December 31, 2023, the total carrying amount stabilized at US$ 6,018 million, indicating a plateau in the overall debt level.
- Long-Term Debt Composition
- From 2019 to 2022, the vast majority of the debt was classified as long-term, excluding the current portion, which rose from US$ 5,113 million to US$ 6,013 million. In 2023, a significant reallocation occurred, as the long-term portion decreased to US$ 4,705 million.
- Current Debt Obligations
- The current portion of long-term debt remained negligible between 2019 and 2022, declining from US$ 16 million to US$ 1 million. This trend reversed sharply on December 31, 2023, when the current portion surged to US$ 1,313 million.
- Maturity Profile Analysis
- The shift in the 2023 figures indicates a substantial amount of debt has transitioned into its final year of maturity. While the total debt carrying amount remained nearly constant between 2022 and 2023, the movement of US$ 1,313 million into the current portion suggests a significant increase in short-term repayment obligations for the upcoming fiscal year.
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Total Debt (Fair Value)
| Dec 31, 2023 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total long-term debt (fair value) | 6,400) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.06 |
Based on: 10-K (reporting date: 2023-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on long-term debt: 3.94%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 4.00% | 313) | 13) | |
| 2.45% | 1,000) | 25) | |
| 6.50% | 70) | 5) | |
| 7.50% | 252) | 19) | |
| 4.60% | 695) | 32) | |
| 6.50% | 25) | 2) | |
| 4.60% | 802) | 37) | |
| 2.30% | 894) | 21) | |
| 2.75% | 845) | 23) | |
| 5.60% | 595) | 33) | |
| 6.63% | 38) | 3) | |
| 5.50% | 397) | 22) | |
| 5.22% | 93) | 5) | |
| Total | 6,019) | 237) | |
| 3.94% | |||
Based on: 10-K (reporting date: 2023-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 237 ÷ 6,019 = 3.94%