Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Motorola Solutions Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	1,705)	1,325)	1,874)	1,254)	1,001)
Accounts receivable, net	1,710)	1,518)	1,386)	1,390)	1,412)
Contract assets	1,102)	974)	1,105)	933)	1,046)
Inventories, net	827)	1,055)	788)	508)	447)
Current contract cost assets	56)	61)	30)	23)	24)
Contractor receivables	40)	47)	7)	—)	—)
Tax-related deposits	32)	33)	41)	52)	77)
Other	229)	242)	181)	167)	171)
Other current assets	357)	383)	259)	242)	272)
Current assets held for disposition	24)	—)	—)	—)	—)
Current assets	5,725)	5,255)	5,412)	4,327)	4,178)
Property, plant and equipment, net	964)	927)	1,042)	1,022)	992)
Right-of-use operating lease assets	495)	485)	382)	468)	554)
Common stock	28)	21)	69)	19)	25)
Strategic investments, at cost	28)	45)	35)	46)	40)
Company-owned life insurance policies	74)	69)	81)	77)	74)
Equity method investments	13)	12)	24)	16)	20)
Investments	143)	147)	209)	158)	159)
Deferred income taxes	1,062)	1,036)	916)	966)	943)
Goodwill	3,401)	3,312)	2,565)	2,219)	2,067)
Intangible assets, net	1,255)	1,342)	1,105)	1,234)	1,327)
Defined benefit plan assets	98)	164)	365)	283)	223)
Non-current contract cost assets	119)	130)	124)	105)	107)
Other	57)	16)	69)	94)	92)
Other assets	274)	310)	558)	482)	422)
Non-current assets held for disposition	17)	—)	—)	—)	—)
Non-current assets	7,611)	7,559)	6,777)	6,549)	6,464)
Total assets	13,336)	12,814)	12,189)	10,876)	10,642)

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).

Cash and cash equivalents: There has been a general upward trend in cash and cash equivalents, rising from $1,001 million in 2019 to $1,705 million in 2023, with a notable peak at $1,874 million in 2021 and some fluctuation thereafter.
Accounts receivable, net: Accounts receivable remained relatively stable between 2019 and 2021, hovering around $1,390 million but increased steadily in the last two years, reaching $1,710 million by 2023, indicating growing sales or extended credit terms.
Contract assets: Contract assets showed some volatility but an overall increase from $1,046 million in 2019 to $1,102 million in 2023, with a dip in 2020 and 2022.
Inventories, net: Inventories expanded significantly, almost doubling from $447 million in 2019 to $827 million in 2023, with a peak at $1,055 million in 2022, suggesting increased stock levels which may be due to higher demand anticipation or supply chain considerations.
Current contract cost assets: These assets have more than doubled from $24 million in 2019 to $56 million in 2023, reflecting increased costs capitalized on current contracts.
Contractor receivables: Reported only from 2021 onward, contractor receivables rose sharply to $47 million in 2022 before slightly declining to $40 million in 2023, signifying growing amounts owed by contractors in recent years.
Tax-related deposits: These deposits have steadily decreased from $77 million in 2019 to $32 million in 2023, indicating possibly lower tax prepayments or refunds.
Other current assets: There has been growth in other current assets from $272 million in 2019 to $357 million in 2023, after peaking at $383 million in 2022.
Current assets held for disposition: This category appears only in 2023, amounting to $24 million, suggesting some assets earmarked for sale or disposal.
Current assets: Total current assets increased substantially from $4,178 million in 2019 to $5,725 million in 2023, reflecting overall growth in short-term resources available to the company.
Property, plant and equipment, net: Net property, plant and equipment displayed minor fluctuations, declining from $992 million in 2019 to $927 million in 2022, then slightly recovering to $964 million in 2023, indicating stable investment in fixed assets.
Right-of-use operating lease assets: This asset base decreased between 2019 and 2021 from $554 million to $382 million but rebounded in subsequent years to $495 million by 2023, reflecting changes in leasing commitments.
Common stock: Common stock values fluctuated without a clear trend, ranging from $19 million to $69 million in the period analyzed.
Strategic investments, at cost: Strategic investments declined overall from $40 million in 2019 to $28 million in 2023, with some volatility interspersed.
Company-owned life insurance policies: Values remained relatively steady around the $70 million range throughout the period.
Equity method investments: These investments fluctuated, dropping from $20 million in 2019 to $13 million in 2023 after peaking at $24 million in 2021.
Investments: Investments peaked at $209 million in 2021 but decreased to $143 million in 2023, indicating some divestiture or depreciation.
Deferred income taxes: Deferred income taxes were relatively stable, fluctuating modestly from $943 million to $1,062 million, showing consistent tax timing differences.
Goodwill: Goodwill increased significantly from $2,067 million in 2019 to $3,401 million in 2023, reflecting acquisitions or revaluations.
Intangible assets, net: Net intangible assets decreased overall from $1,327 million in 2019 to $1,255 million in 2023, despite a spike in 2022, possibly due to amortization exceeding additions.
Defined benefit plan assets: These assets increased initially to $365 million in 2021, then decreased sharply to $98 million in 2023, indicating significant changes in pension plan funding or asset valuations.
Non-current contract cost assets: A modest increase was seen from $107 million in 2019 to a peak of $130 million in 2022, with a slight decline to $119 million in 2023.
Other non-current assets: Other non-current assets decreased from $92 million in 2019 to $57 million in 2023, showing reduced miscellaneous long-term assets.
Other assets: Other assets increased from $422 million in 2019 to $558 million in 2021 but subsequently declined to $274 million by 2023, suggesting disposals or reclassifications.
Non-current assets held for disposition: This item appeared in recent years, reaching $17 million in 2023, indicating some long-term assets planned for disposal.
Non-current assets: Non-current assets grew steadily from $6,464 million in 2019 to $7,611 million in 2023, driven by increases in goodwill and intangible assets despite some decreases in other categories.
Total assets: Total assets increased consistently from $10,642 million in 2019 to $13,336 million in 2023, reflecting overall company growth and expansion of its asset base during this period.

Assets: Selected Items

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Motorola Solutions Inc. (NYSE:MSI)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items