Analysis of Inventory
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Motorola Solutions Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Analysis of Revenues
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Inventory Disclosure
Motorola Solutions Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Finished goods | |||||||||||
| Work-in-process and production materials | |||||||||||
| Inventories | |||||||||||
| Inventory reserves | |||||||||||
| Inventories, net |
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).
- Finished Goods
- Finished goods inventories show an increasing trend from 2019 to 2022, rising from 209 million USD to 354 million USD. However, there is a noticeable decline in 2023 to 328 million USD, indicating a reduction after reaching a peak the previous year.
- Work-in-Process and Production Materials
- Work-in-process and production materials exhibit significant growth from 374 million USD in 2019 to a peak of 829 million USD in 2022. This is followed by a notable decrease to 640 million USD in 2023. This pattern suggests a buildup of intermediate inventory leading up to 2022, succeeded by a drawdown in the subsequent year.
- Inventories
- Total inventories consistently increase from 583 million USD in 2019 to 1,183 million USD in 2022, more than doubling over this period. In 2023, there is a decline to 968 million USD, reflecting an overall reduction after a period of expansion.
- Inventory Reserves
- Inventory reserves, which represent reductions from gross inventory values, show relatively minor fluctuations, ranging from -123 to -141 million USD over the five years. The slight increase in reserves over time may indicate cautious management of inventory obsolescence or shrinkage.
- Inventories, Net
- Net inventories follow a similar pattern to total inventories, increasing steadily from 447 million USD in 2019 to 1,055 million USD in 2022, then decreasing to 827 million USD in 2023. This reflects overall growing net investment in inventory through 2022, followed by inventory reduction efforts in 2023.
- Summary
- The data reflects a clear trend of inventory accumulation from 2019 through 2022, peaking in that year, followed by a reduction in 2023. The simultaneous patterns in finished goods and work-in-process inventories suggest a buildup of production and stock levels through 2022, possibly driven by supply chain strategies or market demand assumptions, with subsequent inventory optimization or demand changes leading to decreases in 2023. Inventory reserves remain relatively stable, indicating consistent management of potential inventory risks.