Motorola 2014 Annual Report Download - page 52

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50
Consolidated Statements of Cash Flows
Years ended December 31
(In millions) 2014 2013 2012
Operating
Net earnings attributable to Motorola Solutions, Inc. $ 1,299 $1,099 $ 881
Earnings attributable to noncontrolling interests 16 —
Net earnings 1,300 1,105 881
Earnings from discontinued operations, net of tax 1,996 166 211
Earnings (loss) from continuing operations, net of tax (696) 939 670
Adjustments to reconcile earnings (loss) from continuing operations to net cash provided by (used
for) operating activities:
Depreciation and amortization 173 158 151
Non-cash other income —(14) —
Gain on sale of building and land (21) — —
Loss on pension plan settlement 1,883 — —
Share-based compensation expense 94 120 146
Gains on sales of investments (5) (37) (26)
Loss from the extinguishment of long-term debt 37 — 6
Deferred income taxes (557) (334) 114
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable (62) (36) 81
Inventories (5) (8) (2)
Other current assets (47) 50 (112)
Accounts payable and accrued liabilities (120) (232)(106)
Other assets and liabilities (1,359) (51) (248)
Net cash provided by (used for) operating activities from continuing operations (685) 555 674
Investing
Acquisitions and investments, net (47) (57) 83
Proceeds from (used for) sales of investments and businesses, net 3,403 61 (58)
Capital expenditures (181) (169)(170)
Proceeds from sales of property, plant and equipment 33 66 40
Proceeds from sales of Sigma Fund investments and short-term investments, net —2,133 1,075
Net cash provided by investing activities from continuing operations 3,208 2,034 970
Financing
Repayment of debt (465) (4) (413)
Net proceeds from issuance of debt 1,375 593 747
Contributions to Motorola Mobility —— (73)
Issuance of common stock 135 165 133
Purchase of common stock (2,546) (1,694)(2,438)
Excess tax benefit from share-based compensation 11 25 20
Payment of dividends (318) (292)(270)
Distributions from discontinued operations 93 365 217
Net cash used for financing activities from continuing operations (1,715) (842)(2,077)
Net cash provided by operating activities from discontinued operations 95 389 396
Net cash provided by (used for) investing activities from discontinued operations 4(24) (173)
Net cash used for financing activities from discontinued operations (93) (365)(217)
Effect of exchange rate changes on cash and cash equivalents from discontinued operations (6) — (6)
Net cash provided by discontinued operations —— —
Effect of exchange rate changes on cash and cash equivalents from continuing operations (79) 10 20
Net increase in cash and cash equivalents 729 1,757 (413)
Cash and cash equivalents, beginning of period 3,225 1,468 1,881
Cash and cash equivalents, end of period $ 3,954 $3,225 $1,468
Supplemental Cash Flow Information
Cash paid during the period for:
Interest, net $ 128 $ 122 $ 109
Income and withholding taxes, net of refunds 105 246 127
See accompanying notes to consolidated financial statements.