Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- 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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Motorola Solutions Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
- Net Sales Trends
- The net sales exhibit a generally increasing trend over the quarters, with some fluctuations. Product sales demonstrated a strong recovery and growth post the dip in early 2020, rising from a low of $877 million in June 2020 to a peak of $1,751 million by December 2023. Service sales have shown consistent growth overall, moving from $712 million in March 2019 to $1,097 million in December 2023, despite some variability.
- Cost of Sales Patterns
- Costs related to product sales and service sales both increased over time, mirroring the rise in sales volumes. Product costs escalated from approximately $444 million in March 2019 to $721 million by December 2023, while service costs rose from $440 million to $672 million over the same period. The total costs of sales increased in line with growing sales, indicating maintained expense structures relative to revenue generation.
- Gross Margin Evolution
- Gross margin improved notably over the period, especially after the fluctuations in 2020. The margin rose from $773 million in March 2019 to $1,455 million in December 2023, reflecting both growth in sales and effective cost management despite incremental cost increases. This increasing margin suggests improved operational leverage in the core activities.
- Operating Expenses and Charges
- Selling, general, and administrative expenses experienced a gradual increase, from $327 million in March 2019 to $423 million in December 2023, indicating controlled yet rising overhead costs aligned with business growth. Research and development expenditures also showed a steady upward trend, rising from $162 million to $218 million, highlighting continued investment in innovation. Other charges showed significant volatility, with notable spikes in certain quarters, which may indicate one-off expenses or extraordinary items.
- Operating Earnings and Profitability
- Operating earnings posted substantial growth over the analyzed periods, rising from $229 million in March 2019 to $738 million in December 2023. This increase underscores improved operational efficiency and profitability, with a particularly strong surge in late 2022 and throughout 2023.
- Interest and Other Expenses
- Interest expense remained relatively stable, fluctuating modestly around the mid-$50 million range, suggesting consistent financing costs. Other income and expenses were volatile, with some large negative impacts, particularly a significant negative figure in March 2024, which likely affected net earnings in that quarter.
- Net Earnings Before Taxes and Tax Impact
- Pre-tax earnings displayed a positive trend, growing from $185 million in March 2019 to a high of $709 million in December 2023, despite a sharp downturn in March 2024. Income tax expense showed variability, at times even providing benefits, which contributed to fluctuations in net earnings but generally tracked the rise in pre-tax earnings.
- Net Earnings Attributable to the Company
- Net earnings attributable to the company increased significantly across the periods, peaking at $596 million in December 2023, illustrating strong bottom-line growth. There was a notable negative dip in March 2024, reflecting either extraordinary losses or adjustments that impacted profitability for that quarter, followed by recovery in subsequent quarters.
- Summary
- The overall financial data indicates that the company experienced steady growth in sales and gross margins, with rising operating earnings and net profitability over the years up to late 2023. Cost structures and expenses grew in alignment with the business scale, while investments in research and development remained consistent. Some volatility in other charges and other expenses introduced fluctuations in operating income and net earnings, particularly seen in early 2024. Despite these short-term variances, the general trend reflects improved financial performance and profitability over the analyzed period.