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美國
證券交易委員會
華盛頓特區 20549
____________________________________________ 
表格 10-Q
 ____________________________________________
（標記一）
☒根據1934年證券交易所法案第13或15(d)節的季度報告
截至季度結束日期的財務報告2024年9月28日
or
☐
根據《1934年證券交易法》第13或15(d)條規定的過渡報告
過渡期從             至            
委託文件號碼：1-7221
___________________________________________ 
摩托羅拉解決方案，公司。
（其章程中規定的註冊人的確切姓名）
____________________________________________ 
特拉華州 36-1115800
（擬定公司）（納稅人識別號碼）
西門子廣場西500號, 芝加哥, 伊利諾伊州 60661
(總部地址, 郵編)
(847) 576-5000
(註冊人電話號碼，包括區號)
不適用
（如果公司名稱、地址或財年自上次報告以來有變更，請標明之前的名稱、地址和財年）
____________________________________________ 
在法案第12(b)條的規定下注冊的證券：
每種類別的證券交易標誌名稱爲每個註冊的交易所:
普通股$0.01票面價值微星請使用moomoo賬號登錄查看New York Stock Exchange

請勾選適用的選項： (1) 在過去的12個月內（或註冊人要求提交這些報告的較短期間內），已按照證券交易法第13或第15(d)條的規定提交了所有要求提交的報告；並 (2) 在過去90天內一直履行了這些提交要求。Yes ☒沒有。☐
請用複選標記表示，註冊者是否已根據S-t法規第405條的規定，在過去的12個月內（或註冊者需要提交此類文件的更短期間內）遞交了規定必須遞交的每個互動數據文件。Yes ☒沒有。☐
請用複選標記表示公司是否爲大型加速文件提供者、加速文件提供者、非加速文件提供者、較小的報告公司、或新興增長公司。請參閱交易所法案規則120億.2中"大型加速文件提供者"、"加速文件提供者"、"較小的報告公司"和"新興增長公司"的定義。（選擇一項）：
大型加速報告人☒加速器文件
☐
非急速申報人
☐
較小的報告公司
☐
新興成長公司
☐
如果是新興成長型企業，請在以下選項中打勾，指明註冊人是否選擇不使用擴展的過渡期來符合根據《證券交易法》第13（a）節規定提供的任何新的或修訂後財務會計準則的要求。☐
請在檢查標記中勾選指示註冊商是否爲殼公司（定義見交易所法令第12b-2條）。 是的☐沒有。☒
截至2024年11月1日，登記人普通股每股面值0.01美元的股份數量爲 167,120,598.


目錄
截至2024年9月28日季度結束
 
第I部分。FI基本財務信息
頁碼。
項目1。
三個月和 有九起類似訴訟針對JAVELIN的要約收購和合並被提起，稱違反信託責任，尋求公正補償，包括但不限於，禁止交易的達成、撤銷、解除已經交易的事項，以及發送費用、補貼成本，包括合理的律師費和費用。唯一的佛羅里達州訴訟從未向被告送達，該案件於2017年1月20日自願撤回並關閉。2016年4月25日，馬里蘭法院頒佈了一項命令，將馬里蘭案件合併成一起訴訟，標題爲JAVELIN Mortgage Investment Corp.股東訴訟（案號24-C-16-001542），並指定一個馬里蘭案件的律師作爲臨時首席聯合法律顧問。2016年5月26日，臨時首席律師提交了經修訂的釩化鐵質量投訴，聲稱違反信託責任的集體索賠，教唆和共謀違反信託責任以及浪費。2016年6月27日，被告提出了駁回合併修訂集體投訴申請的動議，聲稱未陳述可以獲得救濟的規定。在2017年3月3日，聽證會召開了駁回動議，法院保留了裁定。法院數次推遲動議陳述的裁定。2024年2月14日，法院頒佈裁定，支持被告的駁回動議，並駁回所有原告的權利，無需上訴。在2024年3月11日，原告提出了對法院裁定的上訴通知。2024年7月3日，原告自願撤回之前提出的上訴通知。 截至 2024年9月28日 和 9月30日, 2023
綜合收入簡明綜合報表爲 三個月及 有九起類似訴訟針對JAVELIN的要約收購和合並被提起，稱違反信託責任，尋求公正補償，包括但不限於，禁止交易的達成、撤銷、解除已經交易的事項，以及發送費用、補貼成本，包括合理的律師費和費用。唯一的佛羅里達州訴訟從未向被告送達，該案件於2017年1月20日自願撤回並關閉。2016年4月25日，馬里蘭法院頒佈了一項命令，將馬里蘭案件合併成一起訴訟，標題爲JAVELIN Mortgage Investment Corp.股東訴訟（案號24-C-16-001542），並指定一個馬里蘭案件的律師作爲臨時首席聯合法律顧問。2016年5月26日，臨時首席律師提交了經修訂的釩化鐵質量投訴，聲稱違反信託責任的集體索賠，教唆和共謀違反信託責任以及浪費。2016年6月27日，被告提出了駁回合併修訂集體投訴申請的動議，聲稱未陳述可以獲得救濟的規定。在2017年3月3日，聽證會召開了駁回動議，法院保留了裁定。法院數次推遲動議陳述的裁定。2024年2月14日，法院頒佈裁定，支持被告的駁回動議，並駁回所有原告的權利，無需上訴。在2024年3月11日，原告提出了對法院裁定的上訴通知。2024年7月3日，原告自願撤回之前提出的上訴通知。 截至 9月28日， 2024年和 9月30日, 2023
三個月和一年的壓縮合並股東權益報表 有九起類似訴訟針對JAVELIN的要約收購和合並被提起，稱違反信託責任，尋求公正補償，包括但不限於，禁止交易的達成、撤銷、解除已經交易的事項，以及發送費用、補貼成本，包括合理的律師費和費用。唯一的佛羅里達州訴訟從未向被告送達，該案件於2017年1月20日自願撤回並關閉。2016年4月25日，馬里蘭法院頒佈了一項命令，將馬里蘭案件合併成一起訴訟，標題爲JAVELIN Mortgage Investment Corp.股東訴訟（案號24-C-16-001542），並指定一個馬里蘭案件的律師作爲臨時首席聯合法律顧問。2016年5月26日，臨時首席律師提交了經修訂的釩化鐵質量投訴，聲稱違反信託責任的集體索賠，教唆和共謀違反信託責任以及浪費。2016年6月27日，被告提出了駁回合併修訂集體投訴申請的動議，聲稱未陳述可以獲得救濟的規定。在2017年3月3日，聽證會召開了駁回動議，法院保留了裁定。法院數次推遲動議陳述的裁定。2024年2月14日，法院頒佈裁定，支持被告的駁回動議，並駁回所有原告的權利，無需上訴。在2024年3月11日，原告提出了對法院裁定的上訴通知。2024年7月3日，原告自願撤回之前提出的上訴通知。 截至月份 九月ember 28， 2024年和 9月30日, 2023
的現金流簡明彙總表 有九起類似訴訟針對JAVELIN的要約收購和合並被提起，稱違反信託責任，尋求公正補償，包括但不限於，禁止交易的達成、撤銷、解除已經交易的事項，以及發送費用、補貼成本，包括合理的律師費和費用。唯一的佛羅里達州訴訟從未向被告送達，該案件於2017年1月20日自願撤回並關閉。2016年4月25日，馬里蘭法院頒佈了一項命令，將馬里蘭案件合併成一起訴訟，標題爲JAVELIN Mortgage Investment Corp.股東訴訟（案號24-C-16-001542），並指定一個馬里蘭案件的律師作爲臨時首席聯合法律顧問。2016年5月26日，臨時首席律師提交了經修訂的釩化鐵質量投訴，聲稱違反信託責任的集體索賠，教唆和共謀違反信託責任以及浪費。2016年6月27日，被告提出了駁回合併修訂集體投訴申請的動議，聲稱未陳述可以獲得救濟的規定。在2017年3月3日，聽證會召開了駁回動議，法院保留了裁定。法院數次推遲動議陳述的裁定。2024年2月14日，法院頒佈裁定，支持被告的駁回動議，並駁回所有原告的權利，無需上訴。在2024年3月11日，原告提出了對法院裁定的上訴通知。2024年7月3日，原告自願撤回之前提出的上訴通知。 截至月份 9月28日， 2024年和 9月30日, 2023
項目2。
項目3。
項目4。
第二部分其他信息
項目1。
項目1A。
項目2。
項目3。
項目4。
項目5。
項目6。



第一部分—財務信息
項目1.基本報表
簡明合併運營報表（未經審計）
（以百萬計，每股金額除外）三個月已結束九個月已結束
2024年9月28日2023 年 9 月 30 日2024年9月28日2023 年 9 月 30 日
產品淨銷售額$1,670 $1,490 $4,639 $4,063 
服務淨銷售額1,120 1,066 3,167 3,066 
淨銷售額2,790 2,556 7,806 7,129 
產品銷售成本688 658 1,941 1,867 
服務銷售成本669 618 1,902 1,747 
銷售成本1,357 1,276 3,843 3,614 
毛利率1,433 1,280 3,963 3,515 
銷售、一般和管理費用439 380 1,265 1,138 
研究和開發支出234 215 671 640 
其他費用49 46 153 181 
營業收益711 639 1,874 1,556 
其他收入（支出）：
利息支出，淨額(58)(53)(171)(164)
投資和業務銷售虧損，淨額— (1)— — 
其他，淨額42 7 (519)46 
其他支出總額(16)(47)(690)(118)
所得稅前淨收益695 592 1,184 1,438 
所得稅支出132 127 214 321 
淨收益563 465 970 1,117 
減去：歸屬於非控股權益的收益1 1 4 4 
歸屬於摩托羅拉解決方案公司的淨收益$562 $464 $966 $1,113 
每股普通股收益：
基本$3.36 $2.78 $5.79 $6.66 
稀釋$3.29 $2.70 $5.66 $6.46 
已發行普通股的加權平均值：
基本167.1 166.7 166.7 167.2 
稀釋170.9 171.7 170.6 172.2 
請參閱附註的未經審計的簡明合併財務報表。
1

未經審計的簡化合並綜合收益表
 三個月結束九個月結束
（以百萬計）2024年9月28日2023年9月30日2024年9月28日2023年9月30日
淨收益$563 $465 $970 $1,117 
外幣翻譯調整72 (70)45 (7)
衍生工具— — 4 — 
確定福利計劃7 12 21 37 
其他綜合收益（損失），淨所得稅後79 (58)70 30 
綜合收益642 407 1,040 1,147 
少數股東權益所應占盈利1 1 4 4 
歸屬於Motorola Solutions, Inc.普通股股東的綜合收益$641 $406 $1,036 $1,143 
請參閱附註的簡明合併基本報表（未經審計）。

2

彙編的資產負債表(未經審計)
（以百萬美元爲單位，除每股面值外）2024年9月28日2023年12月31日
資產
現金及現金等價物$1,404 $1,705 
2,687,823 1,848 1,710 
合同資產1,301 1,102 
淨存貨816 827 
其他資產439 357 
當前資產持有待處置— 24 
總流動資產5,808 5,725 
物業、廠房和設備，淨值1,024 964 
營業租賃資產551 495 
投資140 143 
延遲所得稅1,214 1,062 
商譽3,523 3,401 
無形資產, 淨額1,295 1,255 
其他334 274 
持有待處置的非流動資產— 17 
資產總額$13,889 $13,336 
負債和股東權益
開多次數$322 $1,313 
應付賬款872 881 
合同負債1,942 2,037 
應計負債1,529 1,504 
持有待處置的流動負債— 1 
流動負債合計4,665 5,736 
長期債務5,674 4,705 
經營租賃負債444 407 
其他負債1,765 1,741 
持有待處置的非流動負債— 8 
股東權益
優先股，$0.0001100股份在2023年9月30日和2022年12月31日分別授權;0.5 無已發行並流通
— — 
普通股，每股面值爲 $0.0001；0.01面值：
2 2 
授權股份： 600.0
已發行股份：9/28/24—168.4; 12/31/23—167.4
流通股份：9/28/24—166.9; 12/31/23—166.2
額外實收資本1,820 1,622 
保留盈餘1,974 1,640 
累計其他綜合損失(2,470)(2,540)
摩托羅拉解決方案公司股東權益合計1,326 724 
非控股權益15 15 
股東權益總額1,341 739 
負債和股東權益總額$13,889 $13,336 
請參閱附註的簡明合併基本報表（未經審計）。

3

簡化股東權益綜合表（未經審計）
（以百萬計）股份普通股和額外資本溢價累計其他綜合收益（損失）留存收益
收益		非控制權益
利益
2023年12月31日的餘額167.4 $1,624 $(2,540)$1,640 $15 
淨收益（虧損）(39)1 
其他綜合損失(13)
普通股股票和期權行使發行1.0 (5)
股份回購計劃(0.1)(39)
股份補償費用56 
分紅聲明 $0.98。
(163)
截至2024年3月30日的餘額168.3 $1,675 $(2,553)$1,399 $16 
淨收益443 2 
其他綜合收益4 
普通股和期權的發行0.1 6 
股份回購計劃(0.2)(71)
股份補償費用63 
宣佈分紅 $0.98。
(164)
向子公司普通股非控股權支付的分紅(3)
截至2024年6月29日的餘額168.2 $1,744 $(2,549)$1,607 $15 
淨收益562 1 
其他綜合收益79 
發行普通股和行使期權0.3 17 
股份回購計劃(0.1)(31)
股份補償費用61 
宣佈分紅派息 $0.98。
(164)
向子公司普通股的非控制利益支付的分紅(1)
截至2024年9月28日的餘額168.4 $1,822 $(2,470)$1,974 $15 

4

（以百萬計）股份普通股和額外實收資本累計其他綜合收益（損失）留存收益
收益		非控制權益
利益
2022年12月31日餘額168.5 $1,308 $(2,535)$1,343 $15 
淨收益278 1 
其他綜合收益48 
發行普通股和行權的期權0.9 25 
股份回購計劃(0.5)(140)
股份補償費用55 
分紅聲明 $0.88。
(148)
子公司普通股非主要股東的分紅派息(1)
2023年4月1日的餘額168.9 $1,388 $(2,487)$1,333 $15 
淨收益371 2 
其他綜合收益40 
發行普通股和行使期權0.2 10 
股份回購計劃(0.8)(224)
股份補償費用53 
分紅宣佈 $0.88。
(147)
子公司普通股支付給非控股權利人的分紅派息(3)
截至2023年7月1日的餘額168.3 $1,451 $(2,447)$1,333 $14 
淨收益464 1 
其他綜合損失(58)
發行普通股和行使期權0.2 38 
股份回購計劃(1.1)(325)
股份補償費用52 
宣佈分紅 $0.88。
(146)
向子公司普通股的非控股權益支付分紅(1)
截至2023年9月30日的餘額167.4 $1,541 $(2,505)$1,326 $14 
請參閱附註的簡明合併基本報表（未經審計）。
5

（未經審計）簡明合併現金流量表
 截至九個月
(以百萬計)2024年9月28日2023年9月30日
Operating
淨收益$970 $1,117 
調整以使淨收益與營業活動提供的淨現金相符:
折舊和攤銷250 271 
非現金其他費用12 8 
基於股份的補償費用180 160 
從Silver Lake可轉換債務的還清中虧損 (注5)585 — 
資產和負債變動，扣除收購、處置和外匯翻譯調整影響:
應收賬款(121)(154)
存貨21 94 
其他流動資產和合同資產(279)(140)
應付帳款、應計負債和合同負債(125)(534)
其他資產和負債(17)(21)
遞延所得稅(155)(2)
經營活動產生的淨現金流量1,321 799 
投資
收購和投資淨額(268)(12)
投資和業務銷售收益，淨額39 12 
資本支出(171)(172)
投資活動產生的淨現金流出(400)(172)
融資
還款債務(1,906)(1)
債務發行淨收入1,288 — 
發行普通股19 76 
購買普通股(141)(670)
分紅派息支付(490)(443)
向非控股權益支付分紅派息(4)(5)
籌集淨現金流量(1,234)(1,043)
匯率變動對現金及現金等價物總額的影響12 1 
總現金及現金等價物淨減少(301)(415)
現金及現金等價物期初餘額1,705 1,325 
現金及現金等價物期末餘額$1,404 $910 
補充現金流信息  
期間支付的現金用於：
支付的利息$143 $165 
收入和預扣稅，減去退款$453 $477 
請參閱附註的簡明合併基本報表（未經審計）。
6

指數適用於基本財務報表附註摘要(未經審計)
頁碼
注1
備註2
注3
注4
注5
注6
注7
注8
注9
注10
注11
注12
註釋13
註釋14
注15

7

未經審計的簡明合併財務報表註釋
（金額單位：百萬美元，除非另有說明）
1.呈現基礎
截至2024年9月28日和截至2024年9月28日及2023年9月30日三個和九個月的核算合併基本報表包括管理層認爲爲使摩托羅拉解決方案公司所有時段呈現的基本合併資產負債表、損益表、全面收入表、股東權益變動表和現金流量表充分說明的所有調整（包括正常往復調整和重分類）。
公司按照52周的財政年度運營，每個財政年度於12月31日結束。關於每個財政季度，公司按照13周的財政季度運營，所有財政季度的結束日期爲星期六。
按照美國通用會計準則（"U.S. GAAP"）編制的基本報表通常包括的某些信息和腳註披露已被壓縮或省略。這些經過壓縮的合併基本報表應當結合公司截至2023年12月31日年度的《10-K表格》中包括的合併基本報表和附註一起閱讀。截至2024年9月28日三個月和九個月的運營結果未必顯示全年可預期的經營結果。
根據美國通用會計準則（GAAP）編制基本報表需要管理層做出某些估計和假設，這些估計和假設會影響資產和負債的報告金額以及在基本報表日披露的或有資產和負債，並影響報告期間收入和費用的報告金額。 實際結果可能與這些估計有所不同。
業務概況
公司通過組織結構管理業務， 二 業務分爲兩個部分：「產品與系統集成」和「軟件與服務」。在這些部分中，公司有 三 主要產品線，其中公司報告淨銷售額：陸地移動無線通信（「LMR」或「LMR通信」）、視頻安防與門禁控制（「視頻」）和指揮中心。
•LMR通信：製造行業，設備（雙向無線電和寬帶，其中既包括公共安全和專業商業無線電（PCR）），以及能夠實現通信的軟件，包括安裝和集成，由服務支持，以確保可用性、安全性和恢復力。
•視頻：攝像頭（固定式、身體佩戴式、車載）、訪問控制、製造行業、視頻管理、軟件和人工智能（AI）驅動的分析工具，有助於提高可見性並關注重要內容。
•指揮中心：指揮中心解決方案和軟件應用，通過整合來自公共安全機構、企業和社區的語音、視頻和數據分析，創建廣泛信息視圖，以幫助簡化工作流程，提高決策的準確性和速度。
最近的收購
在本季度結束後，於2024年10月29日，公司收購了3tc Software（"3tc"），一家提供控制室軟件解決方案的供應商，交易金額爲美元22百萬，扣除已收到的現金。此外，公司以價值爲美元的限制性股票發行給一些關鍵員工，這將在服務期內支出4。這次收購擴大了公司在推進計算機輔助調度（"CAD"）方面針對英國公共安全機構的至關重要的經驗和創新。 一年該業務是軟件和服務部門的一部分。
在2024年7月1日，公司以$ 的現金收購了Noggin，一個全球貨幣關鍵事件管理（"CEM"）軟件提供商。91此外，公司向某些關鍵員工發放了公允價值爲$ 的限制性股票，這將按照服務期限分攤費用。19此收購通過增加運營彈性和CEM能力增強了公司的產品組合，這有助於企業和關鍵基礎設施預測、準備和有效應對事件。 三年該業務是軟件和服務部門的一部分。
截至2023年10月，您已接受培訓。1322024年7月1日，公司收購了一家提供車輛定位和管理解決方案的公司，價格爲$ 百萬，扣除現金。3此外，公司向某些關鍵員工發行了公允價值爲$ 百萬的限制性股票，這將在服務期間進行費用攤銷。 三年該收購擴大了公司在軟體和服務部門的視頻解決方案。
在2024年2月13日，公司收購了Silent Sentinel，一家提供專業長範圍相機的公司，價格爲$37百萬，扣除現金收購。這次收購補充了公司的固定視頻相機產品組合，擴大了在政府和關鍵製造行業客戶中的市場份額，並鞏固了公司作爲全球貨幣端到端視頻安防解決方案的領導者的地位。該業務是產品與系統集成部門的一部分。
在2023年12月15日，公司以$萬美金收購了IPVideo，HALO智能傳感器的創作者。170此外，公司向某些關鍵員工發行了公允價值爲$萬美金的限制性股票，將在服務期內計入費用。5HALO智能傳感器是一款多功能的安全與安防設備，內置電子煙檢測和空氣質量監測、槍聲檢測、異常噪音和運動檢測以及緊急關鍵詞檢測。此次收購將傳感器科技添加到公司的物理安防產品組合中。 一年該業務是公司產品和系統集成部門的一部分。
8

近期會計公告
在2023年11月，財務會計準則委員會（"FASB"）發佈了會計標準更新（"ASU"）第2023-07號，"行業報告（主題280）：可報告行業披露的改進"，以更新可報告行業的披露要求，主要通過增強關於顯著行業費用和用於評估行業績效的信息的披露。該ASU自2023年12月15日後開始的財年生效，並在2025年開始的臨時期間生效，允許提前採用。該ASU將要求公司在採用此ASU後披露額外的行業費用類別，包括銷售成本、銷售、一般和管理費用、研究與開發支出以及其他費用。公司仍在評估採用此ASU對其披露的全面影響。
在2023年12月，FASB發佈了ASU第2023-09號，《所得稅（主題740）：改善所得稅披露》，該指令擴展了實體所得稅率對賬表中的披露以及有關美國和外國轄區現金稅款支付的披露。該ASU適用於2024年12月15日之後開始的財政年度，允許提前採用。公司預計，在採用該ASU後，將有關於現金稅款和所得稅率對賬的額外披露。

2.    來自客戶合同的營業收入
營業收入的分解
下表總結了公司營業收入按 сегмент、地域板塊、主要產品和服務以及客戶類型的拆分情況，涵蓋截至2024年9月28日和2023年9月30日的三個月和九個月的數據，這與公司首席運營決策者爲評估公司報告 сегмент的財務表現而審核的信息一致：
截至三個月
2024年9月28日2023年9月30日
(單位：百萬)產品和系統集成軟體和服務總計產品與系統集成軟體和服務總計
地域板塊:
北美$1,304 $703 $2,007 $1,155 $628 $1,783 
國際480 303 783 457 316 773 
$1,784 $1,006 $2,790 $1,612 $944 $2,556 
主要產品與服務:
LMR 通信$1,492 $596 $2,088 $1,312 $605 $1,917 
視頻 292 208 500 300 153 453 
指揮中心— 202 202 — 186 186 
$1,784 $1,006 $2,790 $1,612 $944 $2,556 
客戶類型：
直接$1,108 $917 2,025 $940 $859 $1,799 
間接676 89 765 672 85 757 
$1,784 $1,006 2,790 $1,612 $944 $2,556 
9

截至九個月
2024年9月28日2023年9月30日
(單位：百萬)產品與系統集成軟體和服務總計產品與系統集成軟體和服務總計
地區：
北美$3,631 $1,985 $5,616 $3,130 $1,786 $4,916 
國際1,302 888 2,190 1,222 991 2,213 
$4,933 $2,873 $7,806 $4,352 $2,777 $7,129 
主要產品和服務：
LMR通信$4,112 $1,739 $5,851 $3,542 $1,807 $5,349 
視頻 821 553 1,374 810 435 1,245 
指揮中心— 581 581 — 535 535 
$4,933 $2,873 $7,806 $4,352 $2,777 $7,129 
客戶類型：
直接$2,969 $2,617 $5,586 $2,459 $2,529 $4,988 
間接1,964 256 2,220 1,893 248 2,141 
$4,933 $2,873 $7,806 $4,352 $2,777 $7,129 

剩餘履約義務
剩餘履約義務代表在未來期間預計將被確認的營業收入，這些營業收入與截至期末尚未滿足或部分滿足的履約義務有關。截止到2024年9月28日，尚未滿足的剩餘履約義務的交易價值爲$9.1 十億美元。總計$4.2 十億美元來源於截至2024年9月28日尚未滿足的產品和系統集成履約義務，其中$2.5 十億美元預計將在下一個 作爲收入確認，時間跨度爲十二個月期間確認。其餘金額通常會隨着系統的實施而逐步滿足。來自產品和系統集成部門的剩餘履約義務等於該部門披露的未完成訂單。總計$4.9 十億美元來自截至2024年9月28日尚未滿足的軟體和服務履約義務。對於未滿足的軟體和服務履約義務的確定，會考慮客戶因方便終止而可能限制的合同期限。當公司的服務合同中存在方便終止時，其對尚未滿足的剩餘履約義務的披露假設合同期限在續約之前是有限的。因此，來自軟體和服務部門的剩餘履約義務可能少於軟體和服務部門披露的未完成訂單，因爲有多年的服務合同包含方便終止條款。公司預計在接下來的1.8 十億美元中將從未滿足的軟體和服務履約義務中確認。 作爲收入確認，時間跨度爲十二個月在提供服務和實施軟體的過程中，剩餘的履約義務通常會隨着時間而確認。
2024年3月13日，公司收到英國內政部的合同延期通知（「延期國家關停通知」）。延期國家關停通知旨在將Airwave服務的「國家關停目標日期」從2026年12月31日延長至2029年12月31日，按競爭與市場管理局（「費用控制」）實施的擬定價格控制的費率。在2024年的前九個月，由於英國內政部根據其延期國家關停通知發佈的合同延期通知，公司記錄了額外的軟體和服務履行義務，金額爲$748百萬，以反映增量 三年的 服務。
系統合同的付款條款通常與合同進度相關的實施里程碑掛鉤，而營業收入的確認是基於成本對成本的方法來衡量績效。公司可能會確認合同資產或合同負債，這取決於營業收入是否超過賬單或賬單是否超過營業收入。服務合同通常是提前收費的，生成合同負債，直到公司履行服務。公司在合同開始時預計承諾的商品或服務的轉移與相關付款條款之間的時間少於一年時，便不會在合同中記錄融資成分。
10

合同餘額
(單位：百萬)2024年9月28日2023年12月31日
應收賬款，淨額$1,848 $1,710 
合同資產1,301 1,102 
合同負債1,942 2,037 
非流動合同負債480 424 
截至2024年9月28日的三個月內確認的營業收入爲$，該收入在2024年6月29日時已包含在合同負債中。572 百萬，相較於截至2023年9月30日的三個月內確認的營業收入$475 百萬，該收入在2023年7月1日時已包含在合同負債中。截止2024年9月28日的九個月內確認的營業收入爲$1.2 十億，相較於截止2023年9月30日的九個月內確認的營業收入$1.1 十億，該收入在2022年12月31日時已包含在合同負債中。營業收入$6 百萬在截至2024年9月28日的三個月內確認，這與以前期間滿足或部分滿足的履約義務相關，主要是由於對系統合同進展的估計變化所驅動。在截至2023年9月30日的三個月內，由於系統合同進展估計變化所驅動的收入調整是微不足道的。營業收入$11 百萬在截至2024年9月28日的九個月內被沖銷，這與以前期間滿足或部分滿足的履約義務確認的收入相關，主要是由於對系統合同進展的估計變化所驅動，與截至2023年9月30日的九個月內的沖銷$18 百萬相比。
截至2024年11月14日，註冊人的普通股總共有 無 截至2024年9月28日和2023年9月30日的三個月和九個月內，合同資產上記錄的預期信用損失情況。
合同成本餘額
(單位：百萬)2024年9月28日2023年12月31日
當前合同成本資產$78 $56 
非當前合同成本資產124 119 
合同成本資產的攤銷爲$13 百萬和$38 百萬美元，截止到2024年9月28日的三個月和九個月，分別爲$10 百萬和$35 百萬美元，截止到2023年9月30日的三個月和九個月，分別爲。

3.    租賃
租賃費用的元件
截至三個月截至九個月
(單位：百萬)2024年9月28日2023年9月30日2024年9月28日2023年9月30日
租賃費用：
運營租賃成本$34 $35 $103 $103 
短期租賃成本— — — 1
變量成本12 10 34 28 
轉租收入(1)(1)(4)(3)
來自經營租賃的淨租賃費用$45 $44 $133 $129 
租賃資產和負債
(單位：百萬)報表行分類2024年9月28日2023年12月31日
使用權租賃資產經營租賃資產$551 $495 
當前租賃負債應計負債131 125 
經營租賃負債經營租賃負債444 407 
11

與租賃相關的其他信息
截至九個月
(單位：百萬)2024年9月28日2023年9月30日
補充現金流信息：
與經營租賃相關的經營活動所使用的淨現金$118 $103 
用於租賃負債的使用權資產123 52 
截至2024年9月28日的九個月期間，公司記錄了$80百萬的作爲s由於假定在其在Airwave無線電網絡下運營的無線電塔租約中續租期權將合理確定地被延長，而獲得的資產以租賃負債的形式記錄，符合英國內政部根據其延期國家停機通知通過2029年12月31日的合同延長通知。此外，以租賃負債獲得的資產$19百萬在與公司續簽國際地域板塊辦公室租約時被記錄爲 十年.
2024年9月28日2023年12月31日
加權平均剩餘租賃期限（年）55
加權平均折現率：3.92 %4.34 %
未來租賃付款
2024年9月28日
(單位：百萬)經營租賃
2024年剩餘時間$32 
2025147 
2026128 
2027109 
202884 
之後136 
總租賃付款636 
減：利息61 
租賃負債的現值$575 

4.    損益表信息的彙總財務數據
運營信息報表
其他費用
經營收益中包含的其他費用包括以下內容：
 截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
其他費用：
無形資產攤銷（附註15）$38 $39 $114 $137 
業務重組（附註14）5 4 16 16 
經營租賃資產減值1 — 5 4 
收購相關交易費用4 1 11 3 
環保儲備費用— — — 15 
法律和解1 1 7 1 
固定資產減值— — — 3 
其他— 1 — 2 
 $49 $46 $153 $181 
12

其他收益（費用）
利息費用、淨額，以及其他淨額，均包含在其他收入（費用）中，具體內容如下：
 截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
利息，淨額：
利息支出$(73)$(60)$(221)$(186)
利息收入15 7 50 22 
$(58)$(53)$(171)$(164)
其他，淨投資：
淨週期養老金和退休後福利（附註8）$32 $24 $95 $73 
從Silver Lake可轉換債務的還清中虧損 (注5)— — (585)— 
投資減值— (7)(3)(16)
外幣收益（損失）(26)23 (22)(16)
衍生工具的收益（損失）（附註6）22 (26)7 (9)
股權投資的公允價值調整9 (7)(4)12 
對不確定稅務立場的評估— — (11)— 
其他5 — 4 2 
 $42 $7 $(519)$46 
每股普通股收益
歸屬於摩托羅拉解決方案公司的普通股每股基本和稀釋收益計算如下：
 歸屬於摩托羅拉解決方案公司普通股東的金額
截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
每普通股的基本收益：
業績
$562 $464 $966 $1,113 
加權平均流通普通股股數167.1 166.7 166.7 167.2 
每股金額$3.36 $2.78 $5.79 $6.66 
每普通股攤薄收益：
業績$562 $464 $966 $1,113 
加權平均流通普通股股數167.1 166.7 166.7 167.2 
增加可稀釋證券的影響：
股票獎勵3.8 3.5 3.9 3.6 
白銀湖可轉換債務
— 1.5 — 1.4 
稀釋後加權平均流通股數170.9 171.7 170.6 172.2 
每股金額$3.29 $2.70 $5.66 $6.46 
13

在截至2024年9月28日的三個月內，稀釋每股普通股收益的計算中，假定行使 0.1 百萬期權 被排除在稀釋每股普通股收益的計算之外，因爲它們的包含會導致抗稀釋效果。
在截至的九個月內，稀釋每普通股收益的計算中， 2024年9月28日共計 0.3與白銀湖可轉換債務相關的 百萬股（在本10-Q表格的"第1部分 - 財務信息"中定義於註釋5，"債務與信貸設施"）被排除在稀釋每普通股收益的計算之外，因爲其納入將導致反稀釋。此外，假設行使的 百萬期權也被排除在稀釋每普通股收益的計算之外，因爲其納入將導致反稀釋。 0.1 百萬期權被排除在稀釋每普通股收益的計算之外，因爲其納入將導致反稀釋。
在截至2023年9月30日的三個月和九個月的稀釋每普通股收益計算中，假設行使了 0.3 百萬期權，包括 0.2 百萬期權，這些期權受市場基礎的或有期權協議的限制，因此在稀釋每普通股收益的計算中被排除，因爲其包含會導致反稀釋。
資產負債表信息
應收賬款, 淨額
應收賬款淨額包括以下內容：
2024年9月28日2023年12月31日
應收賬款$1,929 $1,779 
減去信用損失準備(81)(69)
 $1,848 $1,710 
庫存，淨值
存貨淨額包括以下內容：
2024年9月28日2023年12月31日
成品$366 $328 
在製品和生產材料586 640 
952 968 
減少庫存準備(136)(141)
 $816 $827 
其他流動資產
其他流動資產包括以下內容：
2024年9月28日2023年12月31日
當前合同成本資產（注2）$78 $56 
承包商應收款29 40 
稅務相關存款41 32 
其他291 229 
 $439 $357 
14

物業、廠房及設備，淨值
固定資產的淨值包括以下內容：
2024年9月28日2023年12月31日
土地$5 $5 
租賃改善447 448 
機械和設備2,404 2,396 
2,856 2,849 
減少累計折舊(1,832)(1,885)
 $1,024 $964 
截至2023年12月31日的一年內，公司與一家合同製造商達成協議，將其位於不列顛哥倫比亞省里士滿和德克薩斯州理查森的視頻製造業務，包括機械和設備、庫存、員工轉移及相關設施租賃進行賣出。在截至2023年12月31日的一年內，公司在合併資產負債表中將資產和負債列爲待售，並確認了$的減值損失。24 百萬美元的資產在合併損益表中的其他費用中出現，因爲該資產組的賬面價值低於預期售出價格。交易於2024年2月1日完成，導致這些視頻製造業務的賣出收益是微不足道的。
截至2024年9月28日和2023年9月30日的三個月折舊費用爲$46 百萬和$47 百萬，分別是。截止2024年9月28日和2023年9月30日的九個月折舊費用爲$136 百萬和$134 百萬，分別爲。
投資
投資包括以下內容：
2024年9月28日2023年12月31日
普通股$25 $28 
戰略投資26 28 
公司自有的生命保險政策78 74 
權益法投資11 13 
 $140 $143 
其他資產
 其他資產包括以下內容:
2024年9月28日2023年12月31日
確定受益計劃資產$149 $98 
非流動合同成本資產（注意2）124 119 
其他61 57 
 $334 $274 
15

應付賬款
公司利用供應商融資計劃，使我們的供應商能夠在公司發票的規定支付條款之外加快支付。根據該計劃的條款，公司同意在發票的規定到期日向中介支付確認的發票的規定金額，並且供應商能夠與中介協商提前支付條款。公司或中介可以在任何時候以通知爲準終止他們的協議。 60 公司在此安排下不提供任何形式的擔保。供應商參與該計劃完全由供應商自行決定，參與的供應商直接與中介協商他們的安排。公司對供應商參與該計劃的決定沒有經濟利益，他們的參與不會影響我們的支付條款或到期金額。 75 至 120 規定的發票支付條款爲從開票日期起的區間天數，並被視爲商業上合理的。
截至2024年9月28日和2023年12月31日，公司與參與該計劃的供應商相關的應付款項爲$38 百萬和$35 百萬。供應商融資計劃的義務在簡化合並資產負債表中被歸類爲應付賬款。
應計負債
應計負債包括以下內容：
2024年9月28日2023年12月31日
補償$369 $407 
稅務負債144 231 
應付股息164 163 
交易負債175 140 
經營租賃負債（註釋 3）131 125 
客戶儲備86 89 
其他460 349 
 $1,529 $1,504 
其他負債
其他負債包括以下內容：
2024年9月28日2023年12月31日
確定福利計劃（註釋8）$855 $939 
非流動合同負債（註釋2）480 424 
未確認的稅收利益（註釋7）38 26 
遞延所得稅（註釋7）59 55 
環保儲備119 119 
其他214 178 
 $1,765 $1,741 
股東權益
股份回購計劃： 在截至2024年9月28日的三個月和九個月期間，公司回購了大約 0.1百萬 0.4 百萬股，平均價格爲$440.53 和 $355.31 每股，合計金額爲$31 百萬和$141 百萬，分別爲。
分紅支付： 截至2024年9月28日和2023年9月30日的三個月內，公司分別向其普通股股東支付了$164 百萬和$147 百萬現金分紅派息。 在該季度之後，公司又向其普通股股東支付了額外的 $164 百萬 現金分紅派息。 截至2024年9月28日和2023年9月30日的九個月內，公司支付了$490 百萬和$443 分別向其普通股股東支付現金分紅派息百萬。
16

累計其他全面收益虧損
下表顯示了累計其他綜合損失的變化，包括重新分類到收入中的金額，以及在截至2024年9月28日和2023年9月30日的三個月和九個月的合併簡明損益表中受到影響的項目：
截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
外幣翻譯調整：
期初餘額$(509)$(476)$(482)$(539)
其他綜合收益（損失）在重分類調整之前73 (62)44 (8)
稅收收益（支出）(1)(8)1 1 
其他綜合收入（損失），扣除稅後72 (70)45 (7)
期末餘額$(437)$(546)$(437)$(546)
衍生工具：
期初餘額$(8)$— $(12)$— 
重分類調整前的其他綜合收益— — 4 — 
重分類調整前的其他綜合收益，稅後— — 4 — 
其他綜合收益，扣除稅費$— $— $4 $— 
期末餘額$(8)$— $(8)$— 
確定福利計劃：
期初餘額$(2,032)$(1,971)$(2,046)$(1,996)
重分類調整 - 精算淨損失進入其他收入（註釋8）9 15 25 45 
重分類調整 - 以前的服務收益進入其他收入（註釋8）— 1 2 3 
稅費(2)(4)(6)(11)
重分類調整進入稅後淨收益7 12 21 37 
其他綜合收益，扣除稅費7 12 21 37 
期末餘額$(2,025)$(1,959)$(2,025)$(1,959)
總累計其他綜合虧損$(2,470)$(2,505)$(2,470)$(2,505)

17

5.    債務和信貸便利
2024年9月28日2023年12月31日
4.0% 2024年到期的高級票據
$— $313 
1.75% 2024年到期的高級可轉換票據
— 1,000 
7.5% 2025年到期的債券
252 252 
6.5% 2025年到期的債券
70 70 
4.6% 2028年到期的高級票據
696 695 
6.5% 2028年到期的債券
24 25 
5.0% 高級票據到期於2029年
396 — 
4.6% 高級票據到期於2029年
802 802 
2.3% 2030年到期的高級票據
895 894 
2.75% 2031年到期的高級票據
846 845 
5.6% 2032年到期的高級票據
596 595 
5.4% 2034年到期的高級票據
892 — 
6.625% 2037年到期的高級票據
38 38 
5.5% 高級票據到期於2044年
397 397 
5.22% 債券到期於2097年
93 93 
5,997 6,019 
利率互換終止未攤銷收益的調整(1)(1)
減去：當前部分(322)(1,313)
長期債務$5,674 $4,705 
在截止到2024年9月28日的三個月期間，公司償還了$313百萬的總本金金額 4.0的%2024年到期的高級票據。
截至2024年9月28日，$252 百萬的 7.5% 的債券將於2025年到期，預計在2025年5月到期，以及$70 百萬的 6.5% 的債券將於2025年到期，預計在2025年9月到期，這些債券被列爲公司的資產負債表中的長期債務的當前部分，因爲這些債券將在接下來的十二個月內到期。
2019年9月5日，該公司與Silver Lake Partners簽訂了發行美元的協議1.0十億 1.75計劃於2024年9月到期的優先可轉換票據百分比（「銀湖可轉換債券」），於2021年9月5日實現完全可兌換。2024 年 2 月 14 日，公司與 Silver Lake Partners 達成協議，回購美元1.0銀湖可轉換債券本金總額爲10億美元，總對價爲美元1.59十億現金，包括轉換溢價。公司在2024年第一季度支付了現金對價。Silver Lake可轉換債務的回購被視爲債務的消滅，因爲回購是在原始合同轉換率之外的有利經濟條件下談判的。美元滅火造成的損失585記錄了百萬美元，即回購金額超過債務賬面價值的部分593百萬，由應計利息 $ 抵消8百萬。在截至2024年9月28日的九個月中，債務清償損失記錄在簡明合併運營報表中的其他收入（支出）中。
在2024年3月25日，公司發行了$400百萬的 5.0%高級票據，直到2029年到期，以及$900百萬的 5.4% 高級票據，至2034年到期。公司在扣除債務發行成本和折扣後，確認了淨收益$1.3十億。這些票據發行的部分收益用於在2024年第一季度購回$1.0十億的白銀湖可轉債總本金。
截至2024年9月28日，公司擁有一項價值$2.25 十億的聯合無抵押循環信貸額度，定於2026年3月到期（"2021摩托羅拉解決方案信貸協議"）。2021摩托羅拉解決方案信貸協議包括信用證下限和$450 百萬的前置承諾。該額度下的借款按優先利率加上適用的利差計息，或按照公司選擇的擔保隔夜融資利率（SOFR）上浮計息。對未提取額度需支付年度設施費。如果公司的信用評級變化，利率和設施費將會調整。公司必須遵守一些常規契約，包括根據2021摩托羅拉解決方案信貸協議規定的最大槓桿比率。截止2024年9月28日，公司遵守其財務契約。
公司有一個無擔保的商業票據計劃，該計劃由2021年摩托羅拉解決方案信貸協議支持，公司可以在該協議下發行總金額最高爲$的無擔保商業票據。2.2 在任何時候最高可發行的未償還金額爲10億美元。票據發行所得預計將用於一般公司用途。票據以零息票面利率發行，且以折扣發行，反映了利息成分。到期時，票據將連同利息成分全額償還。票據在到期前不可贖回。截止到2024年9月28日，公司在商業票據計劃下有 無 未償還債務。
18

6.    風險管理
外匯風險
公司在截至2024年9月28日和2023年12月31日的各個期間，持有名義金額總計爲$的未平倉匯率期貨合約。1.3 公司認爲，這些金融工具不應使其面臨由於匯率波動而產生的不當風險，因爲這些合約的收益和損失通常應當與基礎資產、負債和交易的收益和損失相抵消。
下表顯示了 五 截至2024年9月28日，買入或賣出外幣的最大淨名義金額及截至2023年12月31日的相應頭寸：
 名義金額
按貨幣淨買入（賣出）2024年9月28日2023年12月31日
歐元$307 $322 
澳幣(240)(140)
英鎊206 252 
加幣74 76 
人民幣(68)(66)
對手風險
使用衍生金融工具使公司面臨對手信用風險，特別是在對手未能履行合同時。然而，當衍生工具處於資產位置時，公司所承擔的風險僅限於這些工具的公允價值。公司積極監測其信用風險敞口。截至2024年9月28日，所有對手方的信用評級均爲投資級。截止至2024年9月28日，公司對所有對手方的信用風險敞口爲$9 百萬。
衍生金融工具
以下表格總結了截至2024年9月28日和2023年12月31日，公司持有的所有衍生金融工具在簡明合併資產負債表中的公允價值和所在位置：
 衍生工具的公允價值
2024年9月28日其他流動資產應計負債
被指定爲對沖工具的衍生品：
匯率期貨合約$— $5 
未指定爲對沖工具的衍生品：
匯率期貨合約9 3 
衍生工具總計$9 $8 
 衍生工具的公允價值
2023年12月31日其他流動資產應計負債
被指定爲對沖工具的衍生品：
匯率期貨合約$1 $3 
國債利率鎖定— 12 
未指定爲對沖工具的衍生品：
匯率期貨合約12 1 
股權互換合同1 — 
衍生工具總計$14 $16 
19

下表總結了衍生品對公司截至2024年9月28日和2023年9月30日的簡明合併基本報表的影響：
 財務報表位置截至三個月截至九個月
匯率期貨合約2024年9月28日2023年9月30日2024年9月28日2023年9月30日
被指定爲對沖工具的衍生品：
匯率期貨合約累計其他
綜合收入（損失）		$(9)$9 $3 $5 
確認的遠期點其他收入（費用）— 1 1 2 
國債利率鎖定累計其他綜合收入（損失）— — 4 — 
未指定爲對沖工具的衍生品：
匯率期貨合約其他收入（費用）$22 $(26)$7 $(9)
股權互換合約銷售、一般和管理費用1 (1)3 (1)
淨投資對沖
公司使用匯率期貨合約對沖英鎊和歐元匯率波動對其在某些歐洲業務的部分淨投資對美元的影響。公司將淨投資對沖的公允價值變動視爲其他綜合收益中的外幣轉換調整的一部分，以抵消被對沖的淨投資翻譯值變動的一部分，直到這些投資被出售或清算。截至2024年9月28日，公司的某些歐元功能子公司有€100百萬歐元的淨投資對沖在某些歐元功能子公司中和£50百萬英鎊的淨投資對沖在一家英鎊功能子公司中。
公司在對對沖效能的評估中排除遠期合約的現貨匯率與遠期匯率之間的差異。確認的遠期點的影響將按直線法攤銷，並通過其他收入（費用）在縮減合併損益表中確認爲利息支出。
股權互換合同
公司使用股權掉期合同，這些合同作爲經濟對沖工具，以應對股市波動，影響公司的遞延補償計劃責任。這些合同在會計上並未指定爲對沖工具。未實現的收益和損失包含在合併損益表中的銷售、一般及行政費用中。截止2024年9月28日，這些合同的名義金額爲$19百萬。
財政利率鎖定
在2023年，公司簽訂了國債利率協議，鎖定了未來債務發行的利率，金額爲$200百萬。這些國債利率鎖定協議被指定並符合現金流套期保值的要求。在截至2024年9月28日的九個月內，公司發行了$900百萬的 5.4% 的2034年到期的高級票據（以下稱爲「2034年票據」）。這些國債利率鎖定協議在2034年票據發行時終止，產生了$8百萬的淨結算損失。累計記錄在其他綜合收益（AOCI）中的損失將在2034年票據的期限內以直線法重新分類爲利息支出， 10年 。

20

7.    所得稅
在每個中期報告期末，公司會估算其年度有效所得稅率。中期的稅費是根據估算的年度有效稅率加上或減去與該期間相關的收入和費用項目的稅務影響進行計算的。用以提供逐年累積的所得稅的估算可能會在隨後的中期期間發生變化。
下表提供了收入稅的詳細信息：
截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
稅前淨收益$695 $592 $1,184 $1,438 
所得稅費用132 127 214 321 
有效稅率19 %21 %18 %22 %
截至2024年9月28日的三個月有效稅率爲 19%，低於美國聯邦法定稅率21%，主要由於美國的退回-預提調整有利、基於股份的補償的稅收優惠以及在與外國稅務機關結算審核時確認的稅收優惠，部分被州稅支出抵消。 18截至2024年9月28日的九個月有效稅率爲%，低於美國聯邦法定稅率21%，主要由於美國的退回-預提調整（包括公司決定在2024年實施一項業務計劃所確認的稅收優惠，該計劃允許額外利用外國稅收抵免結轉，並在其2023年美國納稅申報表上獲得更高的外國衍生無形收入扣除）、基於股份的補償的稅收優惠，以及在與外國稅務機關結算審核時確認的稅收優惠，部分被2024年第一季度白銀湖可轉債的滅失所導致的非可抵扣損失和州稅支出抵消。
截至2023年9月30日的三個月有效稅率爲 21 % 等於美國聯邦法定稅率21%，主要是由於州稅費用，受到基於股份的薪酬的超額稅收優惠和有利的美國稅收調整的抵消。 22截至2023年9月30日的九個月有效稅率爲 % 高於美國聯邦法定稅率21%，主要是由於州稅費用，部分被基於股份的薪酬的超額稅收優惠和有利的美國稅收調整所抵消。
截止2024年9月28日的三個月有效稅率爲 19%低於截止2023年9月30日的三個月有效稅率爲 21%，主要是由於2024年基於股票的補償的超額稅收利益和與外國稅務機關審計和解時確認的稅收利益增加。截止2024年9月28日的九個月有效稅率爲 18%低於截止2023年9月30日的九個月有效稅率爲 22%，主要是由於公司決定在2024年實施的業務計劃所確認的稅收利益，這允許額外利用外國產生的稅收抵免結轉，並且在其2023年美國稅務申報中享有更高的外國衍生無形收入扣除、與外國稅務機關審計和解時確認的稅收利益，以及2024年基於股票的補償的超額稅收利益，抵消了2024年白銀湖可轉換債務清償的非稅收可減免損失。

8.    養老和其他僱員福利
養老金和退休後醫療保健福利計劃
養老金和退休後醫療保健福利計劃的淨定期收益如下：
美國養老金福利計劃非美國養老金福利計劃退休後醫療保健福利計劃
截至三個月2024年9月28日2023年9月30日2024年9月28日2023年9月30日2024年9月28日2023年9月30日
利息成本47 47 14 2 1 2 
計劃資產的預期回報(75)(73)(26)(16)(3)(3)
攤銷：
未確認的淨損失6 5 2 9 1 1 
未確認的以前服務成本（收益）— — (1)— 1 1 
淨週期養老金成本（福利）$(22)$(21)$(11)$(5)$— $1 
21

美國養老金福利計劃非美國養老金福利計劃退休後醫療保健福利計劃
截至九個月2024年9月28日2023年9月30日2024年9月28日2023年9月30日2024年9月28日2023年9月30日
利息成本141 141 42 6 4 5 
計劃資產的預期回報(223)(219)(78)(46)(9)(9)
攤銷：
未確認的淨損失17 15 5 27 3 3 
未確認的前期服務成本（收益）— — (2)— 4 3 
淨定期養老金成本（收益）$(65)$(63)$(33)$(13)$2 $2 

9.    基於股份的薪酬計劃
公司的基於股票的計劃的補償費用如下：
 截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
與股份相關的補償費用包括在：
銷售成本$12 $10 $36 $30 
銷售、一般和管理費用33 28 97 87 
研發支出16 14 47 43 
運營收益中包含的股份薪酬費用61 52 180 160 
稅收利益(13)(11)(37)(33)
股份補償費用（稅後淨額）$48 $41 $143 $127 
基本每股收益減少$(0.29)$(0.25)$(0.86)$(0.76)
攤薄每股收益減少$(0.28)$(0.24)$(0.84)$(0.74)
截至2024年9月28日的九個月期間，公司授予了 0.6 百萬限制性股票單位（RSUs）， 0.1 百萬業績股票單位（PSUs）和 0.04 百萬市場股票單位（MSUs），184 百萬，$25 百萬和$14 其授予日期的公允價值總額爲$ 0.1 百萬股票期權並且 0.1 百萬績效期權（POS），總授予日期公允價值爲$8 百萬和$14 百萬，分別爲。基於股份的補償費用通常將在歸屬期內確認 三年.

10.    公允價值計量
截至2024年9月28日和2023年12月31日，公司金融資產和負債在公允價值層級中的公允價值如下：
2024年9月28日等級 1等級 2總計
資產:
匯率期貨衍生合約$— $9 $9 
普通股25 — 25 
負債：
匯率期貨衍生合約$— $8 $8 
22

2023年12月31日等級 1等級 2總計
資產:
匯率期貨衍生合約$— $13 $13 
股權互換合約1 — 1 
普通股28 — 28 
負債：
匯率期貨衍生合約$— $4 $4 
國債利率鎖定— 12 12 
公司截至2024年11月4日有 無 截至2024年9月28日或2023年12月31日的匯率期貨衍生合約、股權互換合約或第3級持股的普通股投資。
截至2024年9月28日和2023年12月31日，公司擁有$625 百萬和$863 百萬美元的投資於貨幣市場政府和美國國債基金，分類（級別1）爲 現金及現金等價物，出現在其簡明合併資產負債表中。貨幣市場基金的報價市場價格相當於面值。
根據市場報價和市場利率，截至2024年9月28日，公司長期債務的公允價值爲$6.0 十億。2023年12月31日長期債務的公允價值爲$6.4 十億，其中白銀湖可轉換債務爲$1.6 十億（級別2）。
所有板塊其他金融工具按成本計量，與這些工具的公允價值沒有實質性差異。

11.    應收賬款銷售
應收賬款銷售
下表總結了截至2024年9月28日和2023年9月30日的三個月和九個月內從應收賬款及長期應收款銷售中獲得的收益：
 截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
應收賬款銷售收入$15 $— $15 $— 
開多期應收賬款銷售收入56 65 82 123 
截至2024年9月28日，公司對$762 百萬的長期應收款保留了服務義務，與2023年12月31日的$813 百萬相比。服務義務僅限於與應收賬款和長期應收款銷售相關的收款活動。公司在2024年9月28日對第三方的長期融資承諾總計$66 百萬，與2023年12月31日的$103 百萬相比。

23

12.    承諾和或然事項
法律事務
海能達訴訟
2017年3月14日，該公司向美國伊利諾伊州北區地方法院（「地方法院」）對中國深圳海能達通信有限公司、海能達美國公司和海能達通信美國（西部）有限公司（統稱 「海能達」）提起訴訟，指控商業祕密盜竊和侵犯版權，並尋求禁令救濟、補償性賠償和懲罰性賠償等損害賠償。2020年2月14日，該公司宣佈，陪審團在其商業祕密盜竊和版權侵權案中作出了有利於公司的裁決。與該裁決相關的陪審團判給公司 $345.8百萬美元的補償性賠償金和美元418.8百萬美元的懲罰性賠償，總額爲 $764.6百萬。在2021年的一系列審後裁決中，地方法院隨後將判決減少到美元543.7百萬，但也命令海能達向該公司支付美元51.1百萬美元的判決前利息和美元2.6百萬美元的成本，以及 $34.2百萬的律師費。公司繼續通過正在進行的法律程序尋求收回判決。
2020年12月17日，地區法院裁定，海能達必須爲使用公司被盜商業祕密的產品向公司支付前瞻性合理的特許權使用費，並於2021年12月15日設定了自2019年7月1日起海能達銷售相關產品的特許權使用費率。2022年7月5日，地方法院下令海能達於2022年7月31日向第三方託管機構支付根據2019年7月1日至2022年6月30日銷售相關產品而欠公司的特許權使用費。海能達未能在2022年7月31日支付所需的特許權使用費。2022年8月1日，海能達提出動議，要求修改或暫停地區法院先前的2022年7月5日特許權使用費令，但地方法院於2023年7月11日駁回了該動議。2022年8月3日，該公司提出一項動議，要求以海能達在2022年7月31日未支付所需的特許權使用費而違反特許權使用費令爲由提起民事藐視法庭。2023 年 8 月 26 日，地區法院批准了該公司的藐視法庭動議。結果，海能達在 2023 年 9 月 1 日支付了 $56百萬美元存入第三方託管。除了 2023 年 9 月 1 日支付的 $56百萬美元，從2022年10月到2024年10月，海能達已定期向第三方託管機構支付最低限度的季度特許權使用費。在解決所有意外情況並將該金額從託管中解除之前，不會確認支付到託管的總金額。
在2020年2月14日的判決和裁決對公司有利之後，Hytera向美國第七巡迴上訴法院（"上訴法院"）提起上訴，要求審查與陪審團裁決相關的命令以及地區法院的特許權使用費命令。公司於2022年8月5日提交了交叉上訴。上訴法院於2023年12月5日進行了口頭辯論，並於2024年7月2日發佈了裁決。上訴法院確認地區法院授予的407.4百萬美元的損害賠償，包括根據《保護商業祕密法》給予的懲罰性損害賠償。上訴法院還指示地區法院重新計算並減少其授予的136.3百萬美元的版權侵權損害賠償，並指示地區法院重新考慮其拒絕公司請求禁令的決定。在其他所有方面，上訴法院確認了地區法院的判決。2024年10月4日，上訴法院駁回了Hytera的再審動議。此案已根據上訴法院的裁決發回地區法院進一步處理。
在2024年，雙方在地區法院和中國深圳的一家法院展開了競爭訴訟（原由Hytera於2022年6月提起，並在2023年11月才送達公司），涉及Hytera可能繼續在其當前交付的產品中使用公司的商業祕密。2024年4月2日，地區法院裁定Hytera侵犯民事權利，針對Hytera未撤回其在中國的競爭訴訟，發佈了對某些Hytera產品的全球銷售禁令和每日罰款。2024年4月16日，上訴法院批准了Hytera的緊急停止處罰的動議，以便上訴法院審查地區法院與競爭訴訟和藐視法庭制裁有關的各項命令。地區法院於2024年8月26日至30日舉行了關於Hytera當前交付的產品是否繼續濫用公司的商業祕密和版權源代碼的聽證會。該問題目前正在地區法院審議。

24

13.    區段信息
按部門劃分的淨銷售額
 截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
產品和系統集成$1,784 $1,612 $4,933 $4,352 
軟體和服務1,006 944 2,873 2,777 
 $2,790 $2,556 $7,806 $7,129 
按部門劃分的運營收益
 截至三個月截至九個月
2024年9月28日2023年9月30日2024年9月28日2023年9月30日
產品和系統集成$446 $364 $1,135 $752 
軟體和服務265 275 739 804 
運營收益711 639 1,874 1,556 
其他費用總計(16)(47)(690)(118)
稅前收益$695 $592 $1,184 $1,438 

14.    業務重組
2024費用
截至2024年9月28日的三個月內，公司記錄了淨業務重組費用爲$7 百萬，由$5 百萬的其他費用和$2 百萬的銷售成本費用，包含在公司的簡明合併損益表中。該$7 百萬中包括$8 百萬與員工分離成本相關的費用，部分抵消了$1 百萬的員工分離準備金的衝回，這些費用不再需要。
截至2024年9月28日的九個月內，公司記錄了業務重組費用淨額爲$21 百萬，包括$16 百萬的其他費用，和$5 百萬的銷售成本費用，在公司的精簡合併經營報表中。21 其中包括$30 百萬與員工分離成本相關的費用，部分被$4 百萬的不再需要的退出費用計提的沖銷所抵消，和$5 百萬的不再需要的員工分離費用計提的沖銷。
下表顯示按部門產生的淨費用：
2024年9月28日截至三個月截至九個月
產品和系統集成$6 $20 
軟體和服務1 1 
 $7 $21 
業務重組應計費用
January 1, 2024額外費用調整已使用金額2024年9月28日
員工離職成本$23 $30 $(5)$(27)$21 
退出成本5 — (4)— 1 
$28 $30 $(9)$(27)$22 
Exit Costs
At January 1, 2024, the Company had an accrual of $5 million for exit costs, related to the Company's exit of the Emergency Service Network contract with the UK Home Office. During the nine months ended September 28, 2024, the Company recorded a $4 million reversal for accruals no longer needed. The $1 million of exit costs are recorded in Accrued liabilities in the Company's Condensed Consolidated Balance Sheets at September 28, 2024, and are expected to be paid within one year.
25

Employee Separation Costs
At January 1, 2024, the Company had an accrual of $23 million for employee separation costs. The 2024 additional charges of $30 million represent severance costs for approximately 480 employees. The adjustment of $5 million reflects reversals for accruals no longer needed. The $27 million used reflects cash payments to severed employees. The remaining accrual of $21 million, which is included in Accrued liabilities in the Company’s Condensed Consolidated Balance Sheets at September 28, 2024, is expected to be paid, primarily within one year, to approximately 540 employees, who have either been severed or have been notified of their severance and have begun or will begin receiving payments.
2023 Charges
During the three months ended September 30, 2023, the Company recorded net reorganization of business charges of $6 million, including $4 million of charges in Other charges and $2 million of charges in Costs of sales in the Company's Condensed Consolidated Statements of Operations. Included in the $6 million were charges of $8 million related to employee separation costs, partially offset by $2 million of reversals for employee separation accruals no longer needed.
During the nine months ended September 30, 2023, the Company recorded net reorganization of business charges of $22 million, including $16 million of charges in Other charges and $6 million of charges in Costs of sales in the Company's Condensed Consolidated Statements of Operations. Included in the $22 million were charges of $32 million related to employee separation costs, partially offset by $5 million of reversals for exit cost accruals no longer needed and $5 million of reversals for employee separation accruals no longer needed.
The following table displays the net charges incurred by segment: 
September 30, 2023Three Months EndedNine Months Ended
Products and Systems Integration$5 $22 
Software and Services1 — 
 $6 $22 

15.    Intangible Assets and Goodwill
Subsequent to quarter end, on October 29, 2024, the Company acquired 3tc, a provider of control room software solutions for $22 million, net of cash acquired. In addition, the Company issued restricted stock at a fair value of $4 million to certain key employees that will be expensed over a service period of one year. This acquisition expands the Company's critical experience and innovation focused on advancing CAD for the UK's public safety agencies. This business is part of the Software and Services segment. Due to the timing of the acquisition, the initial accounting for the acquisition is incomplete. As such, the Company is not able to disclose certain information relating to the acquisition, including the preliminary fair value of assets acquired and liabilities assumed.
On July 1, 2024, the Company acquired Noggin, a global provider of CEM software for $91 million, net of cash acquired. In addition, the Company issued restricted stock at a fair value of $19 million to certain key employees that will be expensed over a service period of three years. This acquisition enhances the Company's portfolio by adding operational resilience and CEM capabilities, which helps enterprises and critical infrastructure anticipate, prepare for and efficiently respond to incidents. The Company recognized $46 million of goodwill, $54 million of identifiable intangible assets, and $9 million of net liabilities. The goodwill is not deductible for tax purposes. The identifiable intangible assets were classified as $1 million of trade names, $7 million of customer relationships and $46 million of developed technology and will be amortized over a period of three, fifteen and thirteen years, respectively. The business is part of the Software and Services segment. The purchase accounting is not yet complete and as such, the final allocation among income tax accounts, intangible assets, net liabilities and goodwill may be subject to change.
On July 1, 2024, the Company acquired a company that provides vehicle location and management solutions for $132 million, net of cash acquired. In addition, the Company issued restricted stock at a fair value of $3 million to certain key employees that will be expensed over a service period of three years. The Company recognized $62 million of goodwill, $65 million of identifiable intangible assets and $5 million of net assets. The goodwill is deductible for tax purposes. The identifiable intangible assets were classified as $11 million of trade names, $51 million of customer relationships and $3 million of developed technology and will be amortized over a period of nine, eighteen and six years, respectively. The acquisition expands the Company's video solutions within the Software and Services segment. The purchase accounting is not yet complete and as such, the final allocation among income tax accounts, intangible assets, net assets and goodwill may be subject to change.
26

On February 13, 2024, the Company acquired Silent Sentinel, a provider of specialized, long-range cameras, for $37 million, net of cash acquired. This acquisition complements the Company's portfolio of fixed video cameras, expanding its footprint with government and critical infrastructure customers, and strengthens the Company's position as a global leader in end-to-end video security solutions. The Company recognized $16 million of goodwill, $23 million of identifiable intangible assets and $2 million of net liabilities. The goodwill is not deductible for tax purposes. The identifiable intangible assets were classified as $1 million of trade names, $10 million of customer relationships and $12 million of developed technology and will be amortized over a period of two, fourteen and ten years, respectively. The business is a part of the Products and Systems Integration segment. The purchase accounting is not yet complete and as such, the final allocation among income tax accounts net liabilities and goodwill may be subject to change.
On December 15, 2023, the Company acquired IPVideo, the creator of the HALO Smart Sensor, for $170 million, net of cash acquired. The transaction also includes the potential for the Company to make contingent earn-out payments of up to $15 million based on IPVideo's achievement of certain financial targets from January 1, 2024 through December 31, 2024. As of the acquisition date, the Company estimated the fair value of the contingent earn-out to be $2 million, which was included in the purchase price. However, as of September 28, 2024, the Company no longer estimates that the contingent earn-out targets will be achieved. In addition, the Company issued restricted stock at a fair value of $5 million to certain key employees that will be expensed over a service period of one year. The HALO Smart Sensor is a multifunctional safety and security device with built-in vape detection and air quality monitoring, gunshot detection, abnormal noise and motion detection and emergency keyword detection. This acquisition adds sensor technology to the Company's physical security portfolio. The Company recognized $96 million of goodwill, $83 million of identifiable intangible assets and $9 million of net liabilities. The goodwill is not deductible for tax purposes. The identifiable intangible assets were classified as $8 million of trade names, $6 million of customer relationships and $69 million of developed technology and will be amortized over a period of eight, twelve and fifteen years, respectively. The business is part of the Products and Systems Integration segment. The purchase accounting is not yet complete and as such, the final allocation among income tax accounts, net liabilities and goodwill may be subject to change.
Intangible Assets
Amortized intangible assets were comprised of the following: 
 September 28, 2024December 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Developed technology$1,230 $515 $1,156 $447 
Customer-related1,670 1,134 1,566 1,055 
Other intangibles121 77 107 72 
 $3,021 $1,726 $2,829 $1,574 
Amortization expense on intangible assets was $38 million and $114 million for the three and nine months ended September 28, 2024, respectively. Amortization expense on intangible assets was $39 million and $137 million for the three and nine months ended September 30, 2023, respectively. As of September 28, 2024, annual amortization expense is estimated to be $151 million in 2024, $143 million in 2025, $135 million in 2026, $124 million in 2027, $124 million in 2028 and $112 million in 2029.
Amortized intangible assets were comprised of the following by segment:
 September 28, 2024December 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Products and Systems Integration$1,019 $392 $985 $337 
Software and Services2,002 1,334 1,844 1,237 
 $3,021 $1,726 $2,829 $1,574 
27

Goodwill
The Company performed its annual assessment of goodwill for impairment as of the last day of the third quarter. The following table displays a roll-forward of the carrying amount of goodwill by segment from January 1, 2024 to September 28, 2024: 
Products and Systems Integration
Software and Services
Total
Balance as of January 1, 2024$1,568 $1,833 $3,401 
Goodwill acquired16 108 124 
Purchase accounting adjustments(13)— (13)
Foreign currency(1)12 11 
Balance as of September 28, 2024$1,570 $1,953 $3,523 

28

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
This commentary should be read in conjunction with the condensed consolidated financial statements and related notes thereto of Motorola Solutions, Inc. (“Motorola Solutions,” the “Company,” “we,” “our,” or “us”) for the three and nine months ended September 28, 2024 and September 30, 2023, as well as our consolidated financial statements and related notes thereto and management’s discussion and analysis of financial condition and results of operations in our Annual Report on Form 10-K for the year ended December 31, 2023 (the "Form 10-K").
Forward-Looking Statements
Statements in this Quarterly Report on Form 10-Q for the quarter ended September 28, 2024 (this “Form 10-Q”) which are not historical in nature are forward-looking statements within the meaning of applicable federal securities law. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as “believes,” “expects,” “intends,” “aims,” “estimates” and similar expressions. We can give no assurance that any future results or events discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this Form 10-Q. Some of these risks and uncertainties include, but are not limited to, those discussed in Part I, Item 1A “Risk Factors” of the Form 10-K, and those described elsewhere in our other SEC filings. Forward-looking statements include, but are not limited to, statements included in: (1) “Management's Discussion and Analysis of Financial Condition and Results of Operations,” about: (a) the impact of the United Kingdom's Competition and Markets Authority's legal order regarding Airwave (including our actions in response); (b) the impact of our proceedings in the UK High Court regarding the notice of contract extension from the UK Home Office relating to Airwave; (c) the impact of acquisitions on our business; (d) the return of capital to shareholders through dividends and/or repurchasing shares; (e) future payments, charges, and use of accruals associated with our reorganization of business programs and employee separation costs; (f) expected payments of exit costs related to our exit of the Emergency Services Network ("ESN") contract with the UK Home Office; (g) our ability and cost to repatriate funds; (h) the liquidity of our investments; (i) our ability and cost to access the capital markets; (j) our ability to borrow under our credit facilities; (k) adequacy of internal resources to generate an adequate amount of cash to meet expected working capital, capital expenditure and cash requirements; (l) future cash flows generated from operations, and future uses of such cash; and (m) the impact of the adoption of accounting pronouncements on our financial results; (2) “Quantitative and Qualitative Disclosures about Market Risk,” about: (a) the impact of foreign currency risk; (b) the impact of interest rate risk; and (c) future hedging activity and expectations of the Company; and (3) “Legal Proceedings,” about the ultimate disposition of legal matters and timing. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as legally required.

Executive Overview
Business Overview
The Company manages the business organizationally through two segments: “Products and Systems Integration” and “Software and Services." Within these segments the Company has three principal product lines in which the Company reports net sales: Land Mobile Radio Communications (“LMR” or “LMR Communications”), Video Security and Access Control ("Video") and Command Center.
•LMR Communications: Infrastructure, devices (two-way radio and broadband, including both for public safety and professional and commercial radio (PCR)) and software that enable communications, inclusive of installation and integration, backed by services, to assure availability, security and resiliency.
•Video: Cameras (fixed, body-worn, in-vehicle), access control, infrastructure, video management, software and artificial intelligence (AI)-powered analytics that help enable visibility and bring attention to what’s important.
•Command Center: Command center solutions and software applications that unify voice, video, data and analytics from public safety agencies, enterprises and the community to create a broad informational view to help simplify workflows and improve the accuracy and speed of decisions.
29

Third Quarter Financial Results
•Net sales were $2.8 billion in the third quarter of 2024 compared to $2.6 billion in the third quarter of 2023.
•Operating earnings were $711 million in the third quarter of 2024 compared to $639 million in the third quarter of 2023.
•Net earnings attributable to Motorola Solutions, Inc. was $562 million, or $3.29 per diluted common share, in the third quarter of 2024, compared to net earnings of $464 million, or $2.70 per diluted common share, in the third quarter of 2023.
•Operating cash flow increased $522 million to $1.3 billion in the first nine months of 2024 compared to $799 million in the first nine months of 2023.
•We repurchased $141 million of common stock and paid $490 million in dividends in the first nine months of 2024.
Recent Events
UK Home Office Update
In October 2021, the Competition and Markets Authority ("CMA") opened a market investigation into the Mobile Radio Network Services market. This investigation included Airwave, our private mobile radio communications network that we acquired in 2016. Airwave provides mission-critical voice and data communications to emergency services and other agencies in Great Britain.
In 2023, the CMA imposed a legal order on Airwave which implemented a prospective price control on Airwave (the "Charge Control"). After the Competition Appeal Tribunal ("CAT") dismissed our appeal of the CMA's final decision on December 22, 2023, we filed an application with the United Kingdom Court of Appeal on February 13, 2024, requesting that it hear our appeal of the CAT judgment. On June 21, 2024, the United Kingdom Court of Appeal ordered a hearing on our application to be held later this year; which was subsequently set for November 11 and 12, 2024. Since August 1, 2023, revenue under the Airwave contract has been recognized in accordance with the Charge Control, and will continue to be unless the United Kingdom Court of Appeal were to reverse the CAT's judgment and overturn the Charge Control.
On March 13, 2024, we received a notice of contract extension (the “Deferred National Shutdown Notice”) from the UK Home Office. The Deferred National Shutdown Notice extends the “national shutdown target date” of the Airwave service from December 31, 2026 to December 31, 2029, at the Charge Control rates.
Our backlog for Airwave services contracted with the UK Home Office through December 31, 2026 was previously reduced by $777 million to align with the Charge Control. In the first quarter of 2024, as a result of the UK Home Office's notice of a contract extension pursuant to their Deferred National Shutdown Notice, we have recorded additional backlog of $748 million to reflect the incremental three years of services. On April 11, 2024, we filed proceedings in the UK High Court challenging the decision of the UK Home Office to issue the Deferred National Shutdown Notice as being in breach of applicable UK procurement and public law. The hearing on this matter has been set to commence on April 22, 2025. The backlog related to the incremental years of service contemplated in the Deferred National Shutdown Notice could change depending on the outcome of the proceedings.
30

Recent Acquisitions
TechnologySegmentAcquisitionDescriptionPurchase PriceDate of Acquisition
Command CenterSoftware and ServicesNogginProvider of cloud-based business continuity planning, operational resilience and critical event management software.$91 million and share-based compensation of $19 millionJuly 1, 2024
Video Security and Access ControlSoftware and ServicesUnnamed vehicle location and management solutions businessProvider of vehicle location and management solutions.$132 million and share-based compensation of $3 millionJuly 1, 2024
Video Security and Access ControlProducts and Systems IntegrationSilent SentinelProvider of specialized, long-range cameras.$37 millionFebruary 13, 2024
Video Security and Access ControlProducts and Systems IntegrationIPVideoCreator of a multifunctional safety and security device.$170 million and share-based compensation of $5 millionDecember 15, 2023
31

Results of Operations
 Three Months EndedNine Months Ended
(Dollars in millions, except per share amounts)September 28, 2024% of
Sales*		September 30, 2023% of
Sales*		September 28, 2024% of
Sales*		September 30, 2023% of
Sales*
Net sales from products$1,670 $1,490 $4,639 $4,063 
Net sales from services1,120 1,066 3,167 3,066 
Net sales2,790 2,556 7,806 7,129 
Costs of products sales688 41.2 %658 44.2 %1,941 41.8 %1,867 46.0 %
Costs of services sales669 59.7 %618 58.0 %1,902 60.1 %1,747 57.0 %
Costs of sales1,357 1,276 3,843 3,614 
Gross margin1,433 51.4 %1,280 50.1 %3,963 50.8 %3,515 49.3 %
Selling, general and administrative expenses439 15.7 %380 14.9 %1,265 16.2 %1,138 16.0 %
Research and development expenditures234 8.4 %215 8.4 %671 8.6 %640 9.0 %
Other charges49 1.8 %46 1.8 %153 2.0 %181 2.5 %
Operating earnings711 25.5 %639 25.0 %1,874 24.0 %1,556 21.8 %
Other income (expense):
Interest expense, net(58)(2.1)%(53)(2.1)%(171)(2.2)%(164)(2.3)%
Losses on sales of investments and businesses, net— — %(1)— %— — %— — %
Other, net42 1.5 %7 0.3 %(519)(6.6)%46 0.6 %
Total other expense(16)(0.6)%(47)(1.8)%(690)(8.8)%(118)(1.7)%
Net earnings before income taxes695 24.9 %592 23.2 %1,184 15.2 %1,438 20.2 %
Income tax expense132 4.7 %127 5.0 %214 2.7 %321 4.5 %
Net earnings563 20.2 %465 18.2 %970 12.4 %1,117 15.7 %
Less: Earnings attributable to non-controlling interests1 — %1 — %4 0.1 %4 0.1 %
Net earnings attributable to Motorola Solutions, Inc.$562 20.2 %$464 18.2 %$966 12.3 %$1,113 15.6 %
Earnings per diluted common share$3.29 $2.70  $5.66 $6.46 
* Percentages may not add due to rounding

32

Results of Operations—Three months ended September 28, 2024 compared to three months ended September 30, 2023
The results of operations for the third quarter of 2024 are not necessarily indicative of the operating results to be expected for the full year. Historically, we have experienced higher revenues in the fourth quarter as compared to the rest of the quarters of our fiscal year as a result of the purchasing patterns of our customers.
We use the following U.S. GAAP key financial performance measures to manage our business on a consolidated basis and by reporting segment, and to monitor and assess our results of operations:
•Net sales: a measure of our revenue for the current period.
•Operating earnings: a measure of our earnings from operations, before non-operating expenses and income taxes.
•Operating margins: a measure of our operating earnings as a percentage of total net sales.
Considered together, we believe these measures are strong indicators of our overall performance and our ability to create shareholder value. A discussion of our results of operations and financial condition follows.
Three Months Ended
September 28, 2024September 30, 2023
(In millions)Products and Systems IntegrationSoftware and ServicesTotalProducts and Systems IntegrationSoftware and ServicesTotal
Net sales by region:
North America$1,304 $703 $2,007 $1,155 $628 $1,783 
International480 303 783 457 316 773 
$1,784 $1,006 $2,790 $1,612 $944 $2,556 
Net sales by major products and services:
LMR Communications$1,492 $596 $2,088 $1,312 $605 $1,917 
Video 292 208 500 300 153 453 
Command Center— 202 202 — 186 186 
   Total$1,784 $1,006 $2,790 $1,612 $944 $2,556 
Operating earnings$446 $265 $711 $364 $275 $639 
Operating margins25.0 %26.3 %25.5 %22.6 %29.1 %25.0 %
Net Sales
The Products and Systems Integration segment’s net sales represented 64% of our net sales in the third quarter of 2024 and 63% in the third quarter of 2023. The Software and Services segment’s net sales represented 36% of our net sales in the third quarter of 2024 and 37% in the third quarter of 2023.
Net sales increased $234 million, or 9%, in the third quarter of 2024 compared to the third quarter of 2023. The $172 million, or 11%, increase in net sales within the Products and Systems Integration segment was driven by an increase of 13% in the North America region and an increase of 5% in the International region. The $62 million, or 7% increase in net sales within the Software and Services segment was driven by an increase of 12% in the North America region, partially offset by a decrease of 4% in the International region. Net sales includes:
•an increase in the Products and Systems Integration segment, inclusive of $11 million of revenue from acquisitions, driven by an increase in LMR, partially offset by a decrease in Video;
•an increase in the Software and Services segment, inclusive of $25 million of revenue from acquisitions, driven by an increase in Video and Command Center, partially offset by a decrease in LMR services due to the revenue reduction on Airwave services in accordance with the Charge Control and the Company's exit of the ESN contract with the UK Home Office in 2022, inclusive of twelve months of transition services through the end of 2023 (the "ESN Exit"); and
•inclusive of $4 million from unfavorable currency rates.
Regional results include:
•a 13% increase in the North America region, inclusive of revenue from acquisitions, driven by an increase in LMR, Video and Command Center; and
•a 1% increase in the International region, inclusive of revenue from acquisitions, driven by an increase in Video, Command Center and LMR, inclusive of the revenue reduction on Airwave services in accordance with the Charge Control and the ESN Exit.
33

Products and Systems Integration
The 11% increase in the Products and Systems Integration segment was driven by the following:
•$180 million, or 14% growth in LMR, driven by the North America and International regions due to improved supply and favorable mix; partially offset by
•$8 million, or 3% decrease in Video, inclusive of revenue from acquisitions, driven by the International and North America regions; and
•inclusive of $1 million from unfavorable currency rates.
Software and Services
The 7% increase in the Software and Services segment was driven by the following:
•$55 million, or 36% growth in Video, inclusive of revenue from acquisitions, driven by the North America and International regions; and
•$16 million, or 9% growth in Command Center, inclusive of revenue from acquisitions, driven by the North America and International regions; partially offset by
•$9 million, or 1% decrease in LMR services, driven by the International region due to the revenue reduction on Airwave services in accordance with the Charge Control and the ESN Exit, partially offset by an increase in the North America region; and
•inclusive of $3 million from unfavorable currency rates.
Gross Margin
 Three Months Ended
(In millions)September 28, 2024September 30, 2023% Change
Gross margin$1,433 $1,280 12 %
Gross margin was 51.4% of net sales in the third quarter of 2024 compared to 50.1% in the third quarter of 2023. The primary drivers of this increase in gross margin as a percentage of net sales were:
•higher gross margin as a percentage of net sales in the Products and Systems Integration segment, inclusive of acquisitions, primarily driven by higher sales, favorable mix and lower direct material costs; partially offset by
•lower gross margin as a percentage of net sales in the Software and Services segment, inclusive of acquisitions, primarily driven by the revenue reduction on Airwave services in accordance with the Charge Control.
Selling, General and Administrative Expenses
 Three Months Ended
(In millions)September 28, 2024September 30, 2023% Change
Selling, general and administrative expenses$439 $380 16 %
SG&A expenses increased 16% in the third quarter of 2024 compared to the third quarter of 2023. The increase in SG&A expenses was primarily due to higher employee incentive costs, including share-based compensation, higher expenses related to legal matters and higher expenses associated with acquired businesses. SG&A expenses were 15.7% of net sales in the third quarter of 2024 compared to 14.9% of net sales in the third quarter of 2023.
Research and Development Expenditures
 Three Months Ended
(In millions)September 28, 2024September 30, 2023% Change
Research and development expenditures$234 $215 9 %
R&D expenditures increased 9% in the third quarter of 2024 compared to the third quarter of 2023 primarily due to higher employee incentive costs, including share-based compensation, and higher expenses associated with acquired businesses. R&D expenditures were 8.4% of net sales in each of the third quarter of 2024 and in the third quarter of 2023.
34

Other Charges
 Three Months Ended
(In millions)September 28, 2024September 30, 2023
Other charges$49 $46 
Other charges increased by $3 million in the third quarter of 2024 compared to the third quarter of 2023. The change was driven primarily by $4 million of acquisition-related transaction fees in the third quarter of 2024 compared to $1 million of acquisition-related transaction fees in third quarter of 2023.
Operating Earnings
 Three Months Ended
(In millions)September 28, 2024September 30, 2023
Operating earnings from Products and Systems Integration$446 $364 
Operating earnings from Software and Services265 275 
Operating earnings$711 $639 
Operating earnings increased $72 million, or 11%, in the third quarter of 2024 compared to the third quarter of 2023. The increase in Operating earnings was due to:
•an $82 million increase in the Products and Systems Integration segment, primarily driven by higher sales, favorable change in year-over-year mix and lower direct material costs, partially offset by higher employee incentive costs, including share-based compensation, and higher expenses related to legal matters; partially offset by
•a $10 million decrease in the Software and Services segment, primarily driven by the revenue reduction on Airwave services in accordance with the Charge Control, higher employee incentive costs, including share-based compensation, and higher expenses related to legal matters, partially offset by higher sales.
Interest Expense, net
 Three Months Ended
(In millions)September 28, 2024September 30, 2023
Interest expense, net$(58)$(53)
The $5 million increase in Interest expense, net in the third quarter of 2024 compared to the third quarter of 2023 was primarily driven by higher interest rates on outstanding debt, partially offset by higher interest income.
35

Other, net
 Three Months Ended
(In millions)September 28, 2024September 30, 2023
Other, net$42 $7 
The $35 million increase in Other, net in the third quarter of 2024 compared to the third quarter of 2023 was primarily driven by:
•$22 million gain on derivatives in the third quarter of 2024 compared to a $26 million loss on derivatives in the third quarter of 2023;
•$9 million gain on fair value adjustments to equity investments in the third quarter of 2024 compared to a $7 million loss on fair value adjustments to equity investments in the third quarter of 2023;
•$32 million of net periodic pension and postretirement benefit in the third quarter of 2024 compared to $24 million of net periodic pension and postretirement benefit in the third quarter of 2023; and
•$7 million loss on investment impairments in the third quarter of 2023 that did not occur in the third quarter of 2024; partially offset by
•$26 million of foreign currency losses in the third quarter of 2024 compared to $23 million of foreign currency gains in the third quarter of 2023.
Effective Tax Rate
 Three Months Ended
(In millions)September 28, 2024September 30, 2023
Income tax expense$132 $127 
Income tax expense increased by $5 million in the third quarter of 2024 compared to the third quarter of 2023, resulting in an effective tax rate of 19%. Our effective tax rate for the three months ended September 28, 2024 of 19% was lower than the effective tax rate for the three months ended September 30, 2023 of 21%, primarily due to higher excess tax benefits of share-based compensation and tax benefits recognized upon settlement of audits with taxing authorities in foreign jurisdictions in 2024.

Results of Operations—Nine months ended September 28, 2024 compared to Nine months ended September 30, 2023
Nine Months Ended
September 28, 2024September 30, 2023
(In millions)Products and Systems IntegrationSoftware and ServicesTotalProducts and Systems IntegrationSoftware and ServicesTotal
Net sales by region:
North America$3,631 $1,985 $5,616 $3,130 $1,786 $4,916 
International1,302 888 2,190 1,222 991 2,213 
$4,933 $2,873 $7,806 $4,352 $2,777 $7,129 
Net sales by major products and services:
LMR Communications$4,112 $1,739 $5,851 $3,542 $1,807 $5,349 
Video 821 553 1,374 810 435 1,245 
Command Center— 581 581 — 535 535 
   Total$4,933 $2,873 $7,806 $4,352 $2,777 $7,129 
Operating earnings$1,135 $739 $1,874 $752 $804 $1,556 
Operating margins23.0 %25.7 %24.0 %17.3 %29.0 %21.8 %
36

Net Sales
The Products and Systems Integration segment's net sales represented 63% of our net sales in the first nine months of 2024 and 61% in the first nine months of 2023. Net sales from the Software and Services segment represented 37% of our net sales in the first nine months of 2024 and 39% in the first nine months of 2023.
Net sales increased $677 million, or 9%, in the first nine months of 2024 compared to the first nine months of 2023. The $581 million, or 13%, increase in net sales within the Products and Systems Integration segment was driven by an increase of 16% in the North America region and an increase of 7% in the International region. The $96 million, or 3%, increase in net sales within the Software and Services segment was driven by an increase of 11% in the North America region, partially offset by a decrease of 10% in the International region. Net sales includes:
•an increase in the Products and Systems Integration segment, inclusive of $32 million of revenue from acquisitions, driven by an increase in LMR and Video;
•an increase in Software and Services, inclusive of $26 million of revenue from acquisitions, driven by an increase in Video and Command Center, partially offset by a decrease in LMR services driven by the revenue reduction on Airwave services in accordance with the Charge Control and the ESN Exit; and
•inclusive of $8 million from unfavorable currency rates.
Regional results include:
•a 14% increase in the North America region, inclusive of revenue from acquisitions, driven by an increase in LMR, Video and Command Center; partially offset by
•a 1% decrease in the International region, inclusive of revenue from acquisitions, driven by a decrease in LMR due to the revenue reduction on Airwave services in accordance with the Charge Control and the ESN Exit, partially offset by an increase in Video and Command Center.
Products and Systems Integration
The 13% increase in the Products and Systems Integration segment was driven by the following:
•$570 million, or 16% growth in LMR, driven by both the North America and International regions;
•$11 million, or 1% growth in Video, inclusive of revenue from acquisitions, driven by both the North America and International regions; and
•inclusive of $3 million from unfavorable currency rates.
Software and Services
The 3% increase in the Software and Services segment was driven by the following:
•$118 million, or 27% growth in Video, inclusive of revenue from acquisitions, driven by the North America and International regions; and
•$46 million, or 9% growth in Command Center, inclusive of revenue from acquisitions, driven by the North America and International regions; partially offset by
•$68 million, or 4% decrease in LMR services, driven by the International region due to the revenue reduction on Airwave services in accordance with the Charge Control and the ESN Exit, partially offset by an increase in the North America region; and
•inclusive of $5 million from unfavorable currency rates.
Gross Margin
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023% Change
Gross margin$3,963 $3,515 13 %
Gross margin was 50.8% of net sales in the first nine months of 2024 compared to 49.3% in the first nine months of 2023. The primary drivers of this increase in gross margin as a percentage of net sales were:
•higher gross margin as a percentage of net sales in the Products and Systems Integration segment, inclusive of acquisitions, primarily driven by higher sales, favorable mix and lower direct material costs; partially offset by
•lower gross margin as a percentage of net sales in the Software and Services segment, inclusive of acquisitions, driven by the revenue reduction on Airwave services in accordance with the Charge Control.
37

Selling, General and Administrative Expenses
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023% Change
Selling, general and administrative expenses$1,265 $1,138 11 %
SG&A expenses increased 11% in the first nine months of 2024 compared to the first nine months of 2023. The increase in SG&A expenses was primarily due to higher employee incentive costs, including share-based compensation, higher expenses related to legal matters and higher expenses associated with acquired businesses. SG&A expenses were 16.2% of net sales in the first nine months of 2024 compared to 16.0% of net sales in the first nine months of 2023.
Research and Development Expenditures
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023% Change
Research and development expenditures$671 $640 5 %
R&D expenditures increased 5% in the first nine months of 2024 compared to the first nine months of 2023 primarily due to higher employee incentive costs, including share-based compensation, and higher expenses associated with acquired businesses. R&D expenditures were 8.6% of net sales in the first nine months of 2024 compared to 9.0% of net sales in the first nine months of 2023.
Other Charges
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023
Other charges$153 $181 
Other charges decreased by $28 million in the first nine months of 2024 compared to the first nine months of 2023. The change was driven primarily by the following:
•$114 million of intangible asset amortization expense in the first nine months of 2024 compared to $137 million of intangible asset amortization expense in the first nine months of 2023; and
•$15 million of environmental reserve expense in the first nine months of 2023 that did not occur in the first nine months of 2024; partially offset by
•$11 million of acquisition-related transaction fees in the first nine months of 2024 compared to $3 million of acquisition-related transaction fees in the first nine months of 2023; and
•$7 million of legal settlement charges in the first nine months of 2024 compared to $1 million of legal settlement charges in the first nine months of 2023.
Operating Earnings
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023
Operating earnings from Products and Systems Integration$1,135 $752 
Operating earnings from Software and Services739 804 
Operating earnings$1,874 $1,556 
Operating earnings increased $318 million, or 20%, in the first nine months of 2024 compared to the first nine months of 2023. The increase in Operating earnings was due to:
•a $383 million increase in the Products and Systems Integration segment, primarily driven by higher sales, favorable mix, and lower direct material costs, partially offset by higher employee incentive costs, including share-based compensation, higher expenses associated with acquired businesses and higher expenses related to legal matters; partially offset by
•a $65 million decrease in the Software and Services segment, primarily driven by the revenue reduction on Airwave services in accordance with the Charge Control, higher employee incentive costs, including share-based compensation, and higher expenses related to legal matters, partially offset by higher sales and a reduction in intangible amortization expenses.
38

Interest Expense, net
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023
Interest expense, net$(171)$(164)
The $7 million increase in net interest expense in the first nine months of 2024 compared to the first nine months of 2023 was primarily driven by higher outstanding debt, higher interest rates on outstanding debt and an interest accrual related to the settlement of audits with taxing authorities in foreign jurisdictions, partially offset by higher interest income earned on cash.
Other, net
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023
Other, net$(519)$46 
The $565 million decrease in Other, net in the first nine months of 2024 compared to the first nine months of 2023 was primarily driven by:
•$585 million loss from the extinguishment of the $1.0 billion of 1.75% senior convertible notes issued to Silver Lake Partners and scheduled to mature in September 2024 (the "Silver Lake Convertible Debt") which was recognized in the first nine months of 2024;
•$4 million loss on fair value adjustments to equity investments in the first nine months of 2024 compared to a $12 million gain on fair value adjustments to equity investments in the first nine months of 2023;
•$11 million loss on assessments of uncertain tax positions in the first nine months of 2024 that did not occur in the first nine months of 2023; and
•$22 million of foreign currency losses in the first nine months of 2024 compared to $16 million of foreign currency losses in the first nine months of 2023; partially offset by
•$95 million of net periodic pension and postretirement benefit in the first nine months of 2024 compared to $73 million of net periodic pension and postretirement benefit in the first nine months of 2023;
•$7 million of gains on derivative instruments in the first nine months of 2024 compared to $9 million of losses on derivative instruments in the first nine months of 2023; and
•$3 million of investment impairments in the first nine months of 2024 compared to $16 million of investment impairments in the first nine months of 2023.
Effective Tax Rate
 Nine Months Ended
(In millions)September 28, 2024September 30, 2023
Income tax expense$214 $321 
Income tax expense decreased by $107 million in the first nine months of 2024 compared to the first nine months of 2023, resulting in an effective tax rate of 18%. Our effective tax rate of 18% for the nine months ended September 28, 2024 was lower than the effective tax rate for the nine months ended September 30, 2023 of 22%, primarily due to the tax benefit recognized upon the Company's decision to implement a business initiative in 2024 which allows for additional utilization of foreign tax credit carryforwards and a higher foreign derived intangible income deduction on its 2023 U.S. tax return, tax benefits recognized upon settlement of audits with taxing authorities in foreign jurisdictions, and higher excess tax benefits of share-based compensation in 2024, offset by the non-tax deductible loss on the extinguishment of Silver Lake Convertible Debt in 2024.

Reorganization of Business
During the third quarter of 2024, we recorded net reorganization of business charges of $7 million, including $5 million of charges recorded within Other charges and $2 million of charges in Cost of sales in our Condensed Consolidated Statements of Operations. Included in the $7 million were charges of $8 million related to employee separation costs, partially offset by $1 million of reversals for employee separation accruals that are no longer needed.
During the first nine months of 2024, we recorded net reorganization of business charges of $21 million, including $16 million of charges recorded within Other charges and $5 million of charges in Costs of sales in our Condensed Consolidated Statements of Operations. Included in the $21 million were charges of $30 million related to employee separation costs, partially offset by $4 million of reversals for exit cost accruals no longer needed and $5 million of reversals for employee separation accruals no longer needed.
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During the third quarter of 2023, we recorded net reorganization of business charges of $6 million, including $4 million of charges in Other charges and $2 million of charges in Costs of sales in our Condensed Consolidated Statements of Operations. Included in the $6 million were charges of $8 million related to employee separation costs, partially offset by $2 million of reversals for employee separation accruals no longer needed.
During the first nine months of 2023, we recorded net reorganization of business charges of $22 million, including $16 million of charges recorded in Other charges and $6 million of charges in Costs of sales in our Condensed Consolidated Statements of Operations. Included in the $22 million were charges of $32 million related to employee separation costs, partially offset by $5 million of reversals for exit cost accruals no longer needed and $5 million of reversals for employee separation accruals no longer needed.
The following table displays the net charges incurred by segment:
 Three Months EndedNine Months Ended
September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Products and Systems Integration$6 $5 $20 $22 
Software and Services1 1 1 — 
 $7 $6 $21 $22 
Cash payments for employee severance in connection with the reorganization of business plans were $27 million in the first nine months of 2024 and $28 million in the first nine months of 2023. The reorganization of business accrual at September 28, 2024 was $21 million related to employee separation costs that are expected to be paid within one year.

At January 1, 2024, we had an accrual of $5 million for exit costs related to our exit of the ESN contract with the UK Home Office. During the nine months ended September 28, 2024, we recorded a $4 million reversal for accruals no longer needed. The $1 million of exit costs are recorded in Accrued liabilities in our Condensed Consolidated Balance Sheets at September 28, 2024, and are expected to be paid within one year.

Liquidity and Capital Resources
Nine Months Ended
September 28, 2024September 30, 2023
Cash flows provided by (used for):
Operating activities$1,321 $799 
Investing activities(400)(172)
Financing activities(1,234)(1,043)
Effect of exchange rates on cash and cash equivalents12 1 
Decrease in cash and cash equivalents
$(301)$(415)
Cash and Cash Equivalents
At September 28, 2024, $1.1 billion of the $1.4 billion cash and cash equivalents balance was held in the U.S. and $297 million was held in other countries.
Operating Activities
The increase in cash flows provided by operating activities from the first nine months of 2023 to the first nine months of 2024 was driven primarily by higher earnings, net of non-cash adjustments, and improved working capital.
Investing Activities
The increase in cash flows used for investing activities in the first nine months of 2024 compared to the first nine months of 2023 was primarily due to an increase in cash used for acquisitions and investments, offset by proceeds from the sale of our Richmond, British Columbia and Richardson, Texas video manufacturing operations.
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Financing Activities
The increase in cash flows used for financing activities in the first nine months of 2024 compared to the first nine months of 2023 was primarily driven by (see also further discussion in the "Debt," "Share Repurchase Program" and "Dividends" sections below in this Part I, Item 2 of this Form 10-Q):
•$1.9 billion increase in repayments of debt during the first nine months of 2024 driven primarily by the repurchase of the Silver Lake Convertible Debt and repayment of our 4.0% senior notes due 2024;
•$57 million decrease in net proceeds from the issuance of common stock in connection with our employee stock option and employee stock purchase plans in the first nine months of 2024 compared to the first nine months of 2023; and
•$47 million increase in the payment of dividends in the first nine months of 2024 compared to the first nine months of 2023; partially offset by
•$1.3 billion increase in net proceeds in the first nine months of 2024 compared to the first nine months of 2023 driven the issuance of our 5.0% senior notes due 2029 and 5.4% senior notes due 2034; and
•$529 million decrease in share repurchases in the first nine months of 2024 compared to the first nine months of 2023.
Sales of Receivables
The following table summarizes the proceeds received from sales of accounts receivable and long-term customer financing receivables for the three and nine months ended September 28, 2024 and September 30, 2023: 
 Three Months EndedNine Months Ended
September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Accounts receivable sales proceeds$15 $— $15 $— 
Long-term receivables sales proceeds56 65 82 123 
Debt
We had outstanding debt of $6.0 billion at September 28, 2024, of which $322 million was current. We had outstanding debt of $6.0 billion at December 31, 2023, of which $1.3 billion was current.
During the three months ended September 28, 2024, we repaid the $313 million aggregate principal amount of our 4.0% senior notes due 2024.
As of September 28, 2024, $252 million of 7.5% debentures due 2025, which mature in May 2025, and $70 million of 6.5% debentures due 2025, which mature in September 2025, were classified within the Current portion of long-term debt within the Company's Condensed Consolidated Balance Sheets, as the debentures mature within the next twelve months.
On September 5, 2019, we entered into an agreement with Silver Lake Partners to issue the Silver Lake Convertible Debt, which became fully convertible on September 5, 2021. On February 14, 2024, we agreed with Silver Lake Partners to repurchase $1.0 billion aggregate principal amount of the Silver Lake Convertible Debt for aggregate consideration of $1.59 billion in cash, inclusive of the conversion premium. The cash consideration was paid during the first quarter of 2024. The repurchase of the Silver Lake Convertible Debt was accounted for as an extinguishment of debt, as the repurchase was negotiated under economically favorable terms outside of the original contractual conversion rate. A loss on the extinguishment of $585 million was recorded, representing the excess of amounts repurchased over the carrying value of debt of $593 million, offset by accrued interest of $8 million. The loss on the extinguishment of debt was recorded within Other Income (Expense) in the Condensed Consolidated Statements of Operations during the nine months ended September 28, 2024.
On March 25, 2024, we issued $400 million of 5.0% senior notes due 2029 and $900 million of 5.4% senior notes due 2034. We recognized net proceeds of $1.3 billion after debt issuance costs and discounts. A portion of proceeds from the issuance was used to repurchase the $1.0 billion aggregate principal amount of the Silver Lake Convertible Debt.
We have a $2.25 billion syndicated, unsecured revolving credit facility scheduled to mature in March 2026 (the "2021 Motorola Solutions Credit Agreement"). The 2021 Motorola Solutions Credit Agreement includes a letter of credit sub-limit and fronting commitments of $450 million. Borrowings under the facility bear interest at the prime rate plus the applicable margin, or at a spread above the Secured Overnight Financing Rate (SOFR), at our option. An annual facility fee is payable on the undrawn amount of the credit line. The interest rate and facility fee are subject to adjustment if our credit rating changes. We must comply with certain customary covenants including a maximum leverage ratio, as defined in the 2021 Motorola Solutions Credit Agreement. We were in compliance with our financial covenants as of September 28, 2024.
We have an unsecured commercial paper program, backed by the 2021 Motorola Solutions Credit Agreement, under which we may issue unsecured commercial paper notes up to a maximum aggregate principal amount of $2.2 billion outstanding at any one time. Proceeds from the issuances of the notes are expected to be used for general corporate purposes. As of September 28, 2024 we had no outstanding debt under the commercial paper program.
We have investment grade ratings on our senior unsecured long-term debt. During the first quarter of 2024, S&P Global Ratings and Fitch Ratings upgraded our credit rating to BBB from BBB-. We continue to believe that we will be able to maintain sufficient access to the capital markets in the next twelve months and the foreseeable future.
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Share Repurchase Program
During the three and nine months ended September 28, 2024, we repurchased approximately 0.1 million and 0.4 million shares at an average price of $440.53 and $355.31 per share for an aggregate amount of $31 million and $141 million, respectively. As of September 28, 2024, we had used approximately $15.7 billion of the share repurchase authority to repurchase shares, leaving $2.3 billion of authority available for future repurchases.
Dividends
During the third quarter of 2024 we paid $164 million in cash dividends to holders of our common stock. Subsequent to the quarter, we paid an additional $164 million in cash dividends to holders of our common stock.
Adequate Internal Funding Resources
We believe that we have adequate internal resources available to generate adequate amounts of cash to meet our expected working capital, capital expenditure and cash requirements for the next twelve months and the foreseeable future, as supported by the level of cash and cash equivalents in the U.S., the ability to repatriate funds from foreign jurisdictions, cash provided by operations, as well as liquidity provided by our commercial paper program backed by the 2021 Motorola Solutions Credit Agreement.
We do not anticipate a material decrease to net future cash flows generated from operations. We expect to use our available cash, investments, and debt facilities to support and invest in our business. This includes investing in our existing products and technologies, seeking new acquisition opportunities related to our strategic growth initiatives and returning cash to shareholders through common stock cash dividend payments (subject to the discretion of our Board of Directors) and share repurchases.
Long-Term Customer Financing Commitments
We had outstanding commitments to provide long-term financing to third parties totaling $66 million at September 28, 2024, compared to $103 million at December 31, 2023.

Recent Accounting Pronouncements
See “Recent Accounting Pronouncements” in Note 1, “Basis of Presentation” to our condensed consolidated financial statements included in Part I, Item 1 of this Form 10-Q.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
There have been no material changes to our interest rate risk or foreign currency risk during the nine months ended September 28, 2024. For a discussion of our exposure to interest rate risk and foreign currency risk, refer to our disclosures set forth in Part II, Item 7A “Quantitative and Qualitative Disclosures About Market Risk” of the Form 10-K.
Item 4. Controls and Procedures
(a) Evaluation of disclosure controls and procedures. Under the supervision and with the participation of our senior management, including our chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this Form 10-Q (the “Evaluation Date”). Based on this evaluation, our chief executive officer and chief financial officer concluded as of the Evaluation Date that our disclosure controls and procedures were effective such that the information relating to Motorola Solutions, including our consolidated subsidiaries, required to be disclosed in our Securities and Exchange Commission (“SEC”) reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and (ii) is accumulated and communicated to Motorola Solutions’ management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.
(b) Changes in internal control over financial reporting. There have been no changes in our internal control over financial reporting that occurred during the quarter ended September 28, 2024 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.
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PART II—OTHER INFORMATION
Item 1. Legal Proceedings
In addition to the matter referenced below, the Company is subject to legal proceedings and claims that have not been fully resolved and which have arisen in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company's condensed consolidated financial position, liquidity, or results of operations. However, an unfavorable resolution could have a material adverse effect on the Company's condensed consolidated financial position, liquidity, or results of operations in the periods in which the matters are ultimately resolved, or in the periods in which more information is obtained that changes management's opinion of the ultimate disposition.
Refer to the description of "Hytera Litigation" in Note 12, “Commitments and Contingencies,” to our condensed consolidated financial statements included in Part I, Item 1 of this Form 10-Q for information regarding our legal proceedings.

Item 1A. Risk Factors
There have been no material changes to the risk factors previously disclosed in the Form 10-K.
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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Unregistered Sales of Equity Securities
On July 1, 2024, the Company issued 48,044 shares of common stock in connection with the acquisition of Noggin to certain former shareholders of Noggin. The stock was issued for an aggregate grant fair value of $19 million that will be expensed over an average service period of 3 years.
On July 1, 2024, the Company issued 6,993 shares of common stock in connection with the acquisition of a vehicle management solutions company to certain former shareholders of the corporation. The stock was issued for an aggregate grant fair value of $3 million that will be expensed over an average service period of 3 years.
The foregoing transactions did not involve any underwriters, any underwriting discounts or commissions, or any public offerings. The shares with respect to the transactions were issued in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, in a privately negotiated transactions not involving any public offerings or solicitations.
Issuer Purchases of Equity Securities
The following table provides information with respect to acquisitions by the Company of shares of its common stock during the quarter ended September 28, 2024.
Period(a) Total Number
of Shares
Purchased
(b) Average Price
Paid per
Share (1)
(c) Total Number
of Shares Purchased
as Part of Publicly
Announced Plans
or Program (2)
(d) Approximate Dollar
Value of Shares that
May Yet Be Purchased
Under the Plans or
Program(2)
06/28/2024 to 07/25/2024— $— — $— 
07/26/2024 to 08/22/2024— $— — $— 
08/23/2024 to 09/26/202471,675 $440.53 71,675 $2,340,137,531 
Total71,675 $440.53 71,675 
(1)Average price paid per share of common stock repurchased excludes commissions paid to brokers and excise tax. As of January 1, 2023, the Company's share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act of 2022. The amount of excise tax incurred is included in the Company's Condensed Consolidated Statement of Stockholders' Equity for the quarter ended September 28, 2024.
(2)As originally announced on July 28, 2011, and subsequently amended, the Board of Directors has authorized the Company to repurchase an aggregate amount of up to $18.0 billion of its outstanding shares of common stock (the “share repurchase program”). The share repurchase program does not have an expiration date. As of September 28, 2024, the Company had used approximately $15.7 billion to repurchase shares, leaving $2.3 billion of authority available for future repurchases.

Item 3. Defaults Upon Senior Securities.
None.

Item 4. Mine Safety Disclosures.
None.

Item 5. Other Information.
During the three months ended September 28, 2024, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.
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Item 6. Exhibits
Exhibit No.Exhibit
101.INSInline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCHInline XBRL Taxonomy Extension Scheme Document
101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LABInline XBRL Taxonomy Extension Label Linkbase Document
101.PREInline XBRL Taxonomy Extension Presentation Linkbase Document
104Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
___________________________________ 
*Filed herewith
**Furnished herewith
MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license. All other trademarks are the property of their respective owners. ©2024 Motorola Solutions, Inc. All rights reserved.

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
MOTOROLA SOLUTIONS, INC.
By:
/S/ KATHERINE MAHER
Katherine Maher
Corporate Vice President and
Chief Accounting Officer
(Principal Accounting Officer & Duly Authorized Officer)
November 7, 2024

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