Stock Analysis on Net
Stock Analysis on Net

Motorola Solutions Inc. (NYSE:MSI)

$22.49

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

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Motorola Solutions Inc., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 29, 2024 Mar 30, 2024 Dec 31, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Net earnings (loss)
Depreciation and amortization
Non-cash other (income) charges
Exit of video manufacturing operations
Loss on ESN fixed asset impairment
U.S. pension settlement loss
Share-based compensation expenses
(Gain) loss on sales of investments and businesses, net
Loss from the extinguishment of Silver Lake Convertible Debt
Loss from the extinguishment of long-term debt
Gain from the extinguishment of 2.00% senior convertible notes
Accounts receivable
Inventories
Other current assets and contract assets
Accounts payable, accrued liabilities and contract liabilities
Other assets and liabilities
Deferred income taxes
Changes in assets and liabilities, net of effects of acquisitions, dispositions, and foreign currency translation adjustments
Adjustments to reconcile Net earnings (loss) to Net cash provided by (used for) operating activities
Net cash provided by (used for) operating activities
Acquisitions and investments, net
Proceeds from sales of investments and businesses, net
Capital expenditures
Proceeds from sales of property, plant and equipment
Net cash used for investing activities
Repayments of debt
Net proceeds from issuance of debt
Proceeds from unsecured revolving credit facility draw
Repayment of unsecured revolving credit facility draw
Revolving credit facility renewal fees
Issuances of common stock
Purchases of common stock
Payments of dividends
Payments of dividends to non-controlling interests
Settlement of conversion premium on 2.00% senior convertible notes
Net cash provided by (used for) financing activities
Effect of exchange rate changes on total cash and cash equivalents
Net increase (decrease) in total cash and cash equivalents

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 earnings (loss)
Net earnings demonstrate notable volatility over the periods observed. Earnings peaked significantly during the quarter ending December 31, 2020 (US$413 million) and again in December 31, 2022 (US$590 million), reflecting strong profitability in those quarters. A striking loss of US$38 million is reported in March 30, 2024, interrupting an upward trend in earnings generally observed from mid-2021 onwards. Overall, the earnings exhibit cyclical behavior with substantial recovery phases after declines.
Depreciation and amortization
Depreciation and amortization expenses remain relatively stable, fluctuating slightly between US$83 million and US$113 million throughout the periods. The slight downward trend from late 2022 into 2024 (around US$85 million to US$83 million) suggests a modest reduction in these non-cash expenses, indicating potentially lower capital asset base or changes in asset valuation.
Non-cash other (income) charges
These items show irregular and sporadic values, with significant negative entries (income) in quarters such as March 28, 2020 (-US$51 million) and July 3, 2021 (-US$17 million), alternating with positive charges. The mixed pattern indicates inconsistent impacts from non-cash adjustments affecting earnings.
Significant one-time charges and gains
Several one-time charges appear, including a substantial U.S. pension settlement loss of US$359 million in September 28, 2019, and a large impairment loss on fixed assets in late 2022 (US$147 million). Also, significant losses related to debt extinguishment occurred in recent quarters, particularly a US$585 million loss at March 30, 2024, negatively impacting that quarter's financial performance.
Share-based compensation expenses
Share-based compensation shows a steady increase from US$27 million in early 2019, reaching US$63 million by June 29, 2024, suggesting rising personnel-related costs or incentive programs expanding over time.
Working capital components
Accounts receivable fluctuate widely with alternating positive and negative values, reflecting varying collection cycles and possible timing differences in revenue recognition. Inventories also show considerable swings, including a sharp decline in late 2021 (-US$185 million) and subsequent fluctuations, indicating shifts in inventory management or supply chain dynamics.
Accounts payable and accrued liabilities demonstrate significant volatility, with notable increases and decreases suggesting fluctuating payables management and possibly strategic supplier payment timing.
Changes in other current assets and contract assets and deferred income taxes are variable, hinting at complexities in contract accounting and tax positions.
Operating cash flow
Net cash provided by operating activities displays strong cyclicality but with a general upward bias, peaking at US$1,273 million in December 31, 2022. The large spike in operating cash flow during this quarter corresponds with the highest net earnings reported, signifying effective conversion of earnings into cash.
Investing activities
Investments and acquisitions generally represent substantial cash outflows, notably a pronounced outflow of US$652 million in December 31, 2022, indicating heavy investment or acquisition activity at that time. Capital expenditures remain relatively steady, mostly ranging between US$46 million and US$81 million per quarter.
Financing activities
Financing cash flows reveal mixed trends, including substantial debt repayments early in the period, followed by proceeds from debt issuance predominantly seen in 2020 and beyond. Share repurchases have been regularly substantial, peaking at US$493 million in early 2022, partially offset by proceeds from issuances of common stock. Dividend payments are consistent and gradually increase over time, reflecting stable shareholder returns.
Liquidity and cash balance changes
Net changes in cash and cash equivalents are variable, with significant cash inflows during strong operating quarters, notably December 31, 2022 (US$795 million). However, several quarters show cash reductions, reflecting high investment and financing outflows. Exchange rate effects on cash are minor but periodically material enough to impact the net cash position.