Motorola 2012 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2012 Motorola annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

54
Motorola Solutions, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
Years ended December 31
(In millions) 2012 2011 2010
Operating
Net earnings attributable to Motorola Solutions, Inc. $ 881 $ 1,158 $ 633
Earnings (loss) attributable to noncontrolling interests —(6) 17
Net earnings 881 1,152 650
Earnings from discontinued operations 3411 389
Earnings from continuing operations 878 741 261
Adjustments to reconcile earnings from continuing operations to net cash provided
by (used for) operating activities:
Depreciation and amortization 208 366 353
Non-cash other charges (income) 11 34 (74)
Share-based compensation expense 184 168 144
Gain on sales of investments and businesses, net (39) (23) (49)
Loss from extinguishment of long-term debt 681 12
Deferred income taxes 242 63 384
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable 81 (250) (83)
Inventories (3) (14) (111)
Other current assets (118) 61 (48)
Accounts payable and accrued liabilities (162) (191) 333
Other assets and liabilities (220) (188) (319)
Net cash provided by operating activities 1,068 848 803
Investing
Acquisitions and investments, net (109) (32) (23)
Proceeds from (used for) sales of investments and businesses, net (38) 1,124 264
Capital expenditures (187) (186) (192)
Proceeds from sales of property, plant and equipment 56 627
Proceeds from sales of Sigma Fund investments, net 1,075 1,508 453
Proceeds from sales (purchases) of short-term investments, net —6(6)
Net cash provided by investing activities 797 2,426 523
Financing
Repayment of short-term borrowings, net ——(5)
Repayment of debt (413) (1,219) (1,011)
Proceeds from issuance of debt 747 ——
Contributions to Motorola Mobility (73) (3,425) —
Issuance of common stock 133 192 179
Repurchase of common stock (2,438) (1,110) —
Excess tax benefits from share-based compensation 20 42 —
Payment of dividends (270) (72) —
Distributions (to) from discontinued operations (11) 64 797
Net cash used for financing activities (2,305) (5,528) (40)
Net cash provided by operating activities from discontinued operations 226 1,169
Net cash used for investing activities from discontinued operations —(8) (343)
Net cash provided by (used for) financing activities from discontinued operations 11 (64) (797)
Effect of exchange rate changes on cash and cash equivalents from discontinued
operations (13) 46 (29)
Net cash provided by (used for) discontinued operations ———
Effect of exchange rate changes on cash and cash equivalents from continuing
operations 27 (73) 53
Net increase (decrease) in cash and cash equivalents (413) (2,327) 1,339
Cash and cash equivalents, beginning of year 1,881 4,208 2,869
Cash and cash equivalents, end of year $ 1,468 $ 1,881 $ 4,208
Cash Flow Information
Cash paid during the year for:
Interest expense $ 109 $ 166 $ 240
Income taxes, net of refunds 127 107 259
See accompanying notes to consolidated financial statements.