NYSE: MSI
Motorola Solutions, Inc.CIK 0000068505 · SIC 3663 · Radio & TV Broadcasting & Communications Equipment
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Motorola Solutions offers senior notes to fund $1.5B D-Fend counter-drone acquisition
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Motorola Solutions Q2 revenue +13.3% to $3.13B; net income +8.6% to $557.0M
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jul 4, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In millions, except per share amounts)
| Description | Three months ended July 4, 2026 | Three months ended June 28, 2025 | Six months ended July 4, 2026 | Six months ended June 28, 2025 |
|---|---|---|---|---|
| Net sales from products | 1,818 | 1,533 | 3,300 | 2,980 |
| Net sales from services | 1,315 | 1,232 | 2,548 | 2,313 |
| Net sales | 3,133 | 2,765 | 5,848 | 5,293 |
| Costs of products sales | 702 | 646 | 1,332 | 1,220 |
| Costs of services sales | 753 | 706 | 1,476 | 1,360 |
| Costs of sales | 1,455 | 1,352 | 2,808 | 2,580 |
| Gross margin | 1,678 | 1,413 | 3,040 | 2,713 |
| Selling, general and administrative expenses | 496 | 450 | 935 | 886 |
| Research and development expenditures | 260 | 231 | 512 | 464 |
| Other charges | 113 | 40 | 259 | 89 |
| Operating earnings | 809 | 692 | 1,334 | 1,274 |
| Other income (expense): | ||||
| Interest expense, net | (103) | (55) | (208) | (106) |
| Other, net | 36 | 43 | 56 | 59 |
| Total other expense | (67) | (12) | (152) | (47) |
| Net earnings before income taxes | 742 | 680 | 1,182 | 1,227 |
| Income tax expense | 184 | 165 | 256 | 280 |
| Net earnings | 558 | 515 | 926 | 947 |
| Less: Earnings attributable to non-controlling interests | 1 | 2 | 3 | 4 |
| Net earnings attributable to Motorola Solutions, Inc. | 557 | 513 | 923 | 943 |
| Earnings per common share: | ||||
| Basic | 3.36 | 3.08 | 5.57 | 5.65 |
| Diluted | 3.33 | 3.04 | 5.51 | 5.57 |
| Weighted average common shares outstanding: | ||||
| Basic | 165.8 | 166.8 | 165.8 | 166.8 |
| Diluted | 167.2 | 168.8 | 167.6 | 169.4 |
Condensed Consolidated Balance Sheets (Unaudited)
(In millions, except par value)
| Description | July 4, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | 710 | 1,165 |
| Accounts receivable, net | 2,160 | 2,200 |
| Contract assets | 1,455 | 1,574 |
| Inventories, net | 1,333 | 983 |
| Other current assets | 474 | 378 |
| Total current assets | 6,132 | 6,300 |
| Property, plant and equipment, net | 1,167 | 1,165 |
| Operating lease assets | 571 | 581 |
| Investments | 300 | 187 |
| Deferred income taxes | 733 | 761 |
| Goodwill | 6,883 | 6,800 |
| Intangible assets, net | 2,951 | 3,104 |
| Other assets | 505 | 491 |
| Total assets | 19,242 | 19,389 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Short-term borrowings | 615 | 749 |
| Accounts payable | 957 | 1,134 |
| Contract liabilities | 2,341 | 2,265 |
| Accrued liabilities | 1,666 | 1,930 |
| Total current liabilities | 5,579 | 6,078 |
| Long-term debt | 8,417 | 8,413 |
| Operating lease liabilities | 442 | 471 |
| Other liabilities | 2,116 | 2,000 |
| Stockholders’ Equity | ||
| Preferred stock, $100 par value: 0.5 shares authorized; none issued and outstanding | — | — |
| Common stock, $0.01 par value: | 2 | 2 |
| Authorized shares: 600.0 | ||
| Issued shares: 7/4/26—167.4; 12/31/25—167.4 | ||
| Outstanding shares: 7/4/26—165.5; 12/31/25—165.7 | ||
| Additional paid-in capital | 2,468 | 2,279 |
| Retained earnings | 2,627 | 2,549 |
| Accumulated other comprehensive loss | (2,425) | (2,420) |
| Total Motorola Solutions, Inc. stockholders’ equity | 2,672 | 2,410 |
| Non-controlling interests | 16 | 17 |
| Total stockholders’ equity | 2,688 | 2,427 |
| Total liabilities and stockholders’ equity | 19,242 | 19,389 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
| Description | Six months ended July 4, 2026 | Six months ended June 28, 2025 |
|---|---|---|
| Operating | ||
| Net earnings | 926 | 947 |
| Adjustments to reconcile Net earnings to Net cash provided by operating activities: | ||
| Depreciation and amortization | 291 | 167 |
| Contingent earnout adjustment | 91 | — |
| Non-cash other income | — | (5) |
| Share-based compensation expenses | 204 | 140 |
| Changes in assets and liabilities, net of effects of acquisitions, dispositions, and foreign currency translation adjustments: | ||
| Accounts receivable | 36 | 129 |
| Inventories | (355) | (84) |
| Other current assets and contract assets | 9 | (122) |
| Accounts payable, accrued liabilities and contract liabilities | (208) | (455) |
| Other assets and liabilities | (84) | 49 |
| Deferred income taxes | 10 | 17 |
| Net cash provided by operating activities | 920 | 783 |
| Investing | ||
| Acquisitions and investments, net | (224) | (464) |
| Proceeds from sales of investments and businesses, net | 6 | 12 |
| Capital expenditures | (117) | (85) |
| Proceeds from sales of property, plant and equipment | 1 | — |
| Net cash used for investing activities | (334) | (537) |
| Financing | ||
| Net proceeds from issuance of debt | — | 1,983 |
| Net proceeds from short-term borrowings | 65 | — |
| Repayments of short-term debt | (200) | (252) |
| Revolving credit facility renewal fees | — | (5) |
| Issuances of common stock, net of tax | (9) | (37) |
| Purchases of common stock | (449) | (543) |
| Payments of dividends | (402) | (364) |
| Payments of dividends to non-controlling interests | (4) | (4) |
| Net cash provided by (used for) financing activities | (999) | 778 |
| Effect of exchange rate changes on total cash and cash equivalents | (42) | 80 |
| Net increase (decrease) in total cash and cash equivalents | (455) | 1,104 |
| Cash and cash equivalents, beginning of period | 1,165 | 2,102 |
| Cash and cash equivalents, end of period | 710 | 3,206 |
| Supplemental Cash Flow Information | ||
| Cash paid during the period for: | ||
| Interest paid | 229 | 135 |
| Income and withholding taxes, net of refunds | 276 | 315 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share amounts); (In millions, except par value); (In millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗