Motorola 2012 Annual Report Download - page 72

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64
Other Assets
Other assets consist of the following:
December 31 2012 2011
Intangible assets, net of accumulated amortization $ 109 $48
Long-term receivables, net of allowances 60 37
Other 200 211
$ 369 $ 296
Accrued Liabilities
Accrued liabilities consist of the following:
December 31 2012 2011
Deferred revenue $ 820 $ 774
Compensation 424 471
Billings in excess of costs and earnings 387 250
Tax liabilities 95 126
Customer reserves 144 125
Networks purchase price adjustment —96
Dividend payable 72 70
Other 684 821
$ 2,626 $ 2,733
Other Liabilities
Other liabilities consist of the following:
December 31 2012 2011
Defined benefit plans, including split dollar life insurance policies $ 3,389 $ 2,675
Postretirement health care benefits plan 167 295
Deferred revenue 304 275
Unrecognized tax benefits 98 112
Other 237 353
$ 4,195 $ 3,710
Stockholders’ Equity Information
Share Repurchase Program: On July 28, 2011, the Company announced that its Board of Directors approved a share
repurchase program that allowed the Company to purchase up to $2.0 billion of its outstanding common stock through
December 31, 2012. On January 30, 2012, the Company announced that its Board of Directors authorized up to $1.0 billion in
additional funds for use in the existing stock repurchase program through the end of 2012. On February 26, 2012, the
Company purchased 23,739,362 shares of its common stock for approximately $1.2 billion from Carl C. Icahn and certain of
his affiliates. On July 25, 2012, the Company announced that its Board of Directors authorized up to $2.0 billion in additional
funds for share repurchase, bringing the aggregate amount of the share repurchase program to $5.0 billion, and extended the
entire share repurchase program indefinitely with no expiration date. During 2012, the Company paid an aggregate of $2.4
billion, including transaction costs, to repurchase 49.6 million shares at an average price of $49.14 per share. During 2011, the
Company paid an aggregate of $1.1 billion, including transaction costs to repurchase 26.6 million shares at an average price of
$41.77. As of December 31, 2012, the Company has used approximately $3.5 billion of the share repurchase authority,
including transaction costs, to repurchase shares, leaving approximately $1.5 billion of authority available for repurchases. All
repurchased shares have been retired. During the year ended December 31 2010, the Company did not repurchase any of its
common shares.
Payment of Dividends: During the year ended December 31, 2012, the Company paid $270 million in cash dividends to
holders of its common stock. During the year ended December 31, 2011, the Company paid $72 million in cash dividends to
holders of its common stock. During the year ended December 31, 2010, the Company did not pay cash dividends to holders of
its common stock.