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Motorola Solutions Inc. (NYSE:MSI)

This company has been moved to the archive! The financial data has not been updated since August 1, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Motorola Solutions Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Current portion of long-term debt 9.85 0.01 0.04 0.11 0.15
Accounts payable 6.61 8.29 6.98 5.63 5.81
Contract liabilities 15.27 14.51 13.54 14.29 13.62
Compensation 3.05 2.92 2.95 2.68 3.26
Tax liabilities 1.73 2.86 1.50 1.35 0.89
Dividend payable 1.22 1.15 1.10 1.10 1.03
Trade liabilities 1.05 1.13 1.93 1.51 1.51
Current operating lease liabilities 0.94 0.92 1.02 1.16 1.15
Customer reserves 0.67 0.61 0.84 0.00 0.00
Other 2.62 3.18 3.44 4.26 4.90
Accrued liabilities 11.28% 12.78% 12.77% 12.05% 12.74%
Current liabilities held for disposition 0.01 0.00 0.00 0.00 0.00
Current liabilities 43.01% 35.59% 33.33% 32.08% 32.32%
Long-term debt, excluding current portion 35.28 46.93 46.67 47.47 48.05
Non-current operating lease liabilities 3.05 3.27 2.57 3.70 4.67
Defined benefit plans 7.04 7.84 11.40 14.51 14.32
Non-current contract liabilities 3.18 2.83 2.51 2.60 2.57
Unrecognized tax benefits 0.19 0.23 0.30 0.45 0.50
Deferred income taxes 0.41 0.57 1.50 1.66 1.73
Environmental Reserve 0.89 0.84 0.89 0.00 0.00
Other 1.33 0.89 1.03 2.51 2.26
Other liabilities 13.05% 13.20% 17.62% 21.73% 21.39%
Non-current liabilities held for disposition 0.06 0.00 0.00 0.00 0.00
Non-current liabilities 51.45% 63.39% 66.86% 72.89% 74.10%
Total liabilities 94.46% 98.98% 100.19% 104.97% 106.42%
Preferred stock, $100 par value; none issued and outstanding 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.01 0.02 0.02 0.02 0.02
Additional paid-in capital 12.16 10.19 8.10 6.98 4.69
Retained earnings 12.30 10.48 11.08 10.36 11.64
Accumulated other comprehensive loss -19.05 -19.78 -19.52 -22.49 -22.93
Total Motorola Solutions, Inc. stockholders’ equity (deficit) 5.43% 0.91% -0.33% -5.13% -6.58%
Noncontrolling interests 0.11 0.12 0.14 0.16 0.16
Total stockholders’ equity (deficit) 5.54% 1.02% -0.19% -4.97% -6.42%
Total liabilities and stockholders’ equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The financial structure exhibits a significant transition from a liability-heavy position with a stockholders' equity deficit toward a more balanced capital structure with positive equity. Total liabilities have decreased as a percentage of total liabilities and stockholders' equity from 106.42% in 2019 to 94.46% in 2023, reflecting a systematic reduction in overall leverage relative to the balance sheet size.

Current Liabilities Trends
Current liabilities have increased steadily from 32.32% in 2019 to 43.01% in 2023. This growth is primarily driven by a sharp spike in the current portion of long-term debt, which rose from 0.01% in 2022 to 9.85% in 2023, suggesting a substantial amount of debt maturing within the next twelve months. Contract liabilities have remained relatively stable, showing a slight upward trend from 13.62% to 15.27% over the five-year period.
Non-Current Liabilities Trends
Non-current liabilities have seen a marked decline, dropping from 74.10% in 2019 to 51.45% in 2023. A primary contributor to this reduction is long-term debt (excluding the current portion), which decreased from 48.05% to 35.28%. Additionally, liabilities related to defined benefit plans have decreased significantly, falling from 14.32% in 2019 to 7.04% in 2023, contributing to the overall reduction in long-term obligations.
Stockholders' Equity Evolution
A fundamental shift in the equity position is observed, moving from a deficit of -6.42% in 2019 to a positive position of 5.54% by 2023. This recovery is supported by a substantial increase in additional paid-in capital, which grew from 4.69% to 12.16%. While accumulated other comprehensive loss remains a significant negative factor, it has improved from -22.93% in 2019 to -19.05% in 2023. Retained earnings have remained relatively stable, ending the period at 12.30%.

The overall trajectory indicates a strategic deleveraging of long-term debt and a successful restoration of positive stockholders' equity. However, the recent surge in current debt obligations indicates a heightened requirement for short-term liquidity to address upcoming maturities.

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