Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended |
Jun. 28, 2014 | |
Document And Entity Information [Abstract] | ' |
Entity Registrant Name | 'Motorola Solutions, Inc. |
Entity Central Index Key | '0000068505 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Large Accelerated Filer |
Document Type | '10-Q |
Document Period End Date | 28-Jun-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q2 |
Amendment Flag | 'false |
Entity Common Stock, Shares Outstanding | 250,878,592 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net sales from products | $887 | $986 | $1,640 | $1,899 |
Net sales from services | 506 | 511 | 982 | 994 |
Net sales | 1,393 | 1,497 | 2,622 | 2,893 |
Costs of product sales | 400 | 435 | 751 | 840 |
Costs of services sales | 337 | 312 | 638 | 610 |
Costs of sales | 737 | 747 | 1,389 | 1,450 |
Gross margin | 656 | 750 | 1,233 | 1,443 |
Selling, general and administrative expenses | 308 | 339 | 615 | 665 |
Research and development expenditures | 176 | 195 | 350 | 382 |
Other charges | 34 | 13 | 23 | 20 |
Operating earnings | 138 | 203 | 245 | 376 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, net | -29 | -32 | -54 | -57 |
Gains (losses) on sales of investments and businesses, net | -4 | 0 | 4 | 7 |
Other | -7 | -3 | -9 | -3 |
Total other expense | -40 | -35 | -59 | -53 |
Earnings before income taxes | 98 | 168 | 186 | 323 |
Income tax expense (benefit) | 20 | -59 | 23 | -61 |
Earnings from continuing operations | 78 | 227 | 163 | 384 |
Earnings from discontinued operations, net of tax | 746 | 35 | 788 | 70 |
Net earnings | 824 | 262 | 951 | 454 |
Less: Earnings attributable to noncontrolling interests | 0 | 4 | 0 | 4 |
Net earnings attributable to Motorola Solutions, Inc. | 824 | 258 | 951 | 450 |
Earnings from continuing operations, net of tax | 78 | 223 | 163 | 380 |
Earnings from discontinued operations, net of tax | $746 | $35 | $788 | $70 |
Basic: | ' | ' | ' | ' |
Continuing operations (US$ per share) | $0.31 | $0.83 | $0.64 | $1.40 |
Discontinued operations (US$ per share) | $2.94 | $0.13 | $3.11 | $0.26 |
Basic (US$ per share): | $3.25 | $0.96 | $3.75 | $1.66 |
Diluted: | ' | ' | ' | ' |
Continuing operations (US$ per share) | $0.30 | $0.81 | $0.63 | $1.37 |
Discontinued operations (US$ per share) | $2.92 | $0.13 | $3.07 | $0.25 |
Diluted (US$ per share): | $3.22 | $0.94 | $3.70 | $1.62 |
Weighted average common shares outstanding: | ' | ' | ' | ' |
Basic (shares) | 253.7 | 269.5 | 253.8 | 271.9 |
Diluted (shares) | 256.2 | 274.7 | 257.2 | 277.7 |
Dividends declared per share (US$ per share) | $0.31 | $0.26 | $0.62 | $0.52 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net earnings | $824 | $262 | $951 | $454 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Amortization of retirement benefit adjustments, net of tax of $5, $10, $11 and $19 | 11 | 16 | 24 | 35 |
Foreign currency translation adjustment, net of tax of $(5), $(5), $(4) and $(6) | 13 | -5 | 15 | -42 |
Reclassification of net loss (gain) on derivative instruments, net of tax of $–, $-, $- and $- | 1 | 0 | 1 | -1 |
Net unrealized gains (losses) on securities, net of tax of $-, $-, $(2) and $- | 0 | -1 | 2 | -1 |
Total other comprehensive income | 25 | 10 | 42 | -9 |
Comprehensive income | 849 | 272 | 993 | 445 |
Less: Earnings attributable to noncontrolling interest | 0 | 4 | 0 | 4 |
Comprehensive income attributable to Motorola Solutions, Inc. common shareholders | $849 | $268 | $993 | $441 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Amortization of retirement benefits adjustments, tax | $5 | $10 | ' | $19 |
Remeasurement of retirement benefit adjustments, tax | 0 | 0 | 0 | 0 |
Foreign currency translation adjustments, tax | -5 | -5 | ' | -6 |
Reclassification of net loss (gain) on derivative instruments, tax | 0 | 0 | ' | 0 |
Net unrealized gains (losses) on securities, tax | $0 | $0 | ' | $0 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $2,876 | $3,225 |
Accounts receivable, net | 1,185 | 1,369 |
Inventories, net | 330 | 347 |
Deferred income taxes | 1,205 | 451 |
Other current assets | 527 | 635 |
Current assets held for disposition | 943 | 993 |
Total current assets | 7,066 | 7,020 |
Property, plant and equipment, net | 682 | 695 |
Investments | 236 | 232 |
Deferred income taxes | 1,909 | 1,990 |
Goodwill | 383 | 361 |
Other assets | 128 | 89 |
Non-current assets held for disposition | 1,464 | 1,464 |
Total assets | 11,868 | 11,851 |
Current portion of long-term debt | ' | ' |
Current portion of long-term debt | 4 | 4 |
Accounts payable | 453 | 583 |
Accrued liabilities | 1,615 | 1,763 |
Current liabilities held for disposition | 852 | 870 |
Total current liabilities | 2,924 | 3,220 |
Long-term debt | 2,446 | 2,457 |
Other liabilities | 2,151 | 2,314 |
Non-current liabilities held for disposition | 178 | 171 |
Stockholders’ Equity | ' | ' |
Preferred stock, $100 par value | 0 | 0 |
Common stock, $.01 par value: Authorized shares: 600.0; Issued shares: 6/28/14-252.0; 12/31/13-255.5; Outstanding shares: 6/28/14-250.9; 12/31/13-254.5 | 3 | 3 |
Additional paid-in capital | 3,162 | 3,518 |
Retained earnings | 3,219 | 2,425 |
Accumulated other comprehensive loss | -2,245 | -2,287 |
Total Motorola Solutions, Inc. stockholders’ equity | 4,139 | 3,659 |
Noncontrolling interests | 30 | 30 |
Total stockholders’ equity | 4,169 | 3,689 |
Total liabilities and stockholders’ equity | $11,868 | $11,851 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, except Per Share data, unless otherwise specified | ||
Stockholders’ Equity | ' | ' |
Preferred stock, par value | $100 | $100 |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized shares | 600 | 600 |
Common stock, issued shares | 252 | 255.5 |
Common stock, outstanding shares | 250.9 | 254.5 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited) (USD $) | Total | Common Stock and Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Noncontrolling Interests |
In Millions, unless otherwise specified | |||||
Balance at Dec. 31, 2013 | $3,689 | $3,521 | ($2,287) | $2,425 | $30 |
Balance (in shares) at Dec. 31, 2013 | ' | 255.5 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net earnings | 951 | ' | ' | 951 | ' |
Net unrealized gains on securities, net of tax of $(2) | 2 | ' | 2 | ' | ' |
Foreign currency translation adjustments, net of tax of $(4) | 15 | ' | 15 | ' | ' |
Amortization of retirement benefit adjustments, net of tax of $11 | -24 | ' | 24 | ' | ' |
Issuance of common stock and stock options exercised | ' | 44 | ' | ' | ' |
Issuance of common stock and stock options exercised (in shares) | ' | 3.6 | ' | ' | ' |
Share repurchase program | ' | -473 | ' | ' | ' |
Share repurchase program (in shares) | ' | -7.1 | ' | ' | ' |
Excess tax benefit from share-based compensation | ' | 6 | ' | ' | ' |
Share-based compensation expense | ' | 67 | ' | ' | ' |
Net loss on derivative hedging instruments, net of tax of $– | 1 | ' | 1 | ' | ' |
Dividends declared | ' | ' | ' | -157 | ' |
Balance at Jun. 28, 2014 | $4,169 | $3,165 | ($2,245) | $3,219 | $30 |
Balance (in shares) at Jun. 28, 2014 | ' | 252 | ' | ' | ' |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited) (Parenthetical) (USD $) | 6 Months Ended |
In Millions, unless otherwise specified | Jun. 28, 2014 |
Accumulated Other Comprehensive Income (Loss) | |
Net unrealized gains (losses) on securities, tax | ($2) |
Foreign currency translation adjustments, tax | -4 |
Amortization of retirement benefits adjustments, tax | 11 |
Net gain on derivative hedging instruments, tax | $0 |
Condensed_Consolidated_Stateme5
Condensed Consolidated Statements Of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 |
Operating | ' | ' |
Net earnings attributable to Motorola Solutions, Inc. | $951 | $450 |
Less: Earnings attributable to noncontrolling interests | 0 | 4 |
Net earnings | 951 | 454 |
Earnings from discontinued operations, net of tax | -788 | -70 |
Earnings from continuing operations | 163 | 384 |
Adjustments to reconcile Earnings from continuing operations to Net cash provided by (used for) operating activities from continuing operations | ' | ' |
Depreciation and amortization | 86 | 76 |
Gain on sale of building and land | -21 | 0 |
Non-cash other income | -5 | -7 |
Share-based compensation expense | 54 | 62 |
Gains on sales of investments and businesses, net | -4 | -7 |
Deferred income taxes | 6 | -193 |
Changes in assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' |
Accounts receivable | 190 | 78 |
Inventories | 17 | 14 |
Other current assets | 76 | -23 |
Accounts payable and accrued liabilities | -299 | -479 |
Other assets and liabilities | -133 | -5 |
Net cash provided by (used for) operating activities from continuing operations | 130 | -100 |
Investing | ' | ' |
Acquisitions and investments, net | -11 | -8 |
Proceeds from sales of investments and businesses, net | 21 | 21 |
Capital expenditures | -82 | -79 |
Proceeds from sales of property, plant and equipment | 24 | 15 |
Proceeds from sales of Sigma Fund investments, net | 0 | 376 |
Net cash provided by (used for) investing activities from continuing operations | -48 | 325 |
Financing | ' | ' |
Repayment of debt | -2 | -2 |
Net proceeds from issuance of debt | 4 | 593 |
Issuance of common stock | 85 | 99 |
Purchase of common stock | -473 | -907 |
Excess tax benefit from share-based compensation | 6 | 18 |
Payment of dividends | -158 | -143 |
Distributions from discontinued operations | 100 | 137 |
Net cash used for financing activities from continuing operations | -438 | -205 |
Net cash provided by operating activities from discontinued operations | 89 | 152 |
Net cash provided by (used for) investing activities from discontinued operations | 11 | -17 |
Net cash used for financing activities from discontinued operations | -100 | -137 |
Effect of exchange rate changes on cash and cash equivalents from discontinued operations | 0 | 2 |
Net cash provided by discontinued operations | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents from continuing operations | 7 | -31 |
Net decrease in cash and cash equivalents | -349 | -11 |
Cash and cash equivalents, beginning of period | 3,225 | 1,468 |
Cash and cash equivalents, end of period | 2,876 | 1,457 |
Cash paid during the period for: | ' | ' |
Interest, net | 67 | 58 |
Income and withholding taxes, net of refunds | $31 | $68 |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended |
Jun. 28, 2014 | |
Basis Of Presentation [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The condensed consolidated financial statements as of June 28, 2014 and for the three and six months ended June 28, 2014 and June 29, 2013, include, in the opinion of management, all adjustments (consisting of normal recurring adjustments and reclassifications) necessary to present fairly the condensed consolidated balance sheets, statements of operations, statements of comprehensive income, statement of stockholders' equity, and statements of cash flows of Motorola Solutions, Inc. (“Motorola Solutions” or the “Company”) for all periods presented. | |
Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K for the year ended December 31, 2013. The results of operations for the three and six months ended June 28, 2014 are not necessarily indicative of the operating results to be expected for the full year. | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. | |
Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-05, “Service Concession Arrangements.” The ASU clarifies that an operating entity should not account for a services concession arrangement with a public-sector grantor as a lease if: (i) the grantor controls or has the ability to modify or approve the services the operating entity must provide, to whom it must provide them, and at what price and (ii) the grantor controls any residual interest in the infrastructure at the end of the arrangement. In addition, the infrastructure used in a service concession arrangement would not be recognized as property, plant and equipment of the operating entity. The ASU is to be applied on a modified retrospective basis to service concession arrangements outstanding upon adoption and will be effective for the Company beginning January 1, 2015. The Company is currently assessing the impact of this standard on its consolidated financial statements and footnote disclosures. | |
In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." This new standard will replace most existing revenue recognition guidance in U.S. GAAP. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount it expects to receive for those goods and services. The ASU requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and estimates and changes in those estimates. The ASU will be effective for the Company beginning January 1, 2017, and allows for both retrospective and modified-retrospective methods of adoption. The Company is in the process of determining the method of adoption it will elect and is currently assessing the impact of this ASU on its consolidated financial statements and footnote disclosures. |
Discontinued_Operations
Discontinued Operations | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||||||
Discontinued Operations | ' | |||||||||||||||
Discontinued Operations | ||||||||||||||||
On April 14, 2014, the Company entered into a Master Acquisition Agreement (the “Acquisition Agreement”) with Zebra Technologies Corporation to sell the Company’s Enterprise business for $3.45 billion in cash. Certain assets of the Enterprise business will be excluded from the transaction and retained by the Company, including the Company’s iDEN business, and other assets and certain liabilities as specified in the Acquisition Agreement. The transaction is expected to close by the end of 2014. The historical financial results of the Enterprise business, excluding those assets and liabilities retained in the transaction, are reflected in the Company's condensed consolidated financial statements and footnotes as discontinued operations for all periods presented. | ||||||||||||||||
The following table displays summarized activity in the Company's condensed consolidated statements of operations for discontinued operations during the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net sales | $ | 560 | $ | 610 | $ | 1,133 | $ | 1,187 | ||||||||
Operating earnings | 55 | 63 | 118 | 106 | ||||||||||||
Loss on sales of investments and businesses, net | (1 | ) | — | (1 | ) | — | ||||||||||
Investment impairments | (3 | ) | (2 | ) | (3 | ) | (2 | ) | ||||||||
Earnings before income taxes | 50 | 57 | 112 | 106 | ||||||||||||
Income tax expense (benefit) | (696 | ) | 22 | (676 | ) | 36 | ||||||||||
Earnings from discontinued operations, net of tax | $ | 746 | $ | 35 | $ | 788 | $ | 70 | ||||||||
During the three months ended June 28, 2014, the Company recorded a $721 million tax benefit to establish a deferred tax asset associated with an outside basis difference which we now expect to realize in the foreseeable future. The tax benefit represents the excess of the tax basis of our investment in the Enterprise subsidiaries over the financial statement carrying value (the deductible outside basis difference). | ||||||||||||||||
The following table displays a summary of the assets and liabilities held for sale as of June 28, 2014 and December 31, 2013: | ||||||||||||||||
June 28, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Assets: | ||||||||||||||||
Accounts receivable, net | $ | 468 | $ | 551 | ||||||||||||
Inventories, net | 215 | 175 | ||||||||||||||
Deferred income taxes | 225 | 219 | ||||||||||||||
Other current assets | 132 | 134 | ||||||||||||||
Property, plant and equipment, net | 94 | 115 | ||||||||||||||
Investments | 20 | 19 | ||||||||||||||
Goodwill | 1,151 | 1,149 | ||||||||||||||
Other assets | 102 | 95 | ||||||||||||||
$ | 2,407 | $ | 2,457 | |||||||||||||
Liabilities: | ||||||||||||||||
Accounts payable | $ | 196 | $ | 231 | ||||||||||||
Accrued liabilities | 656 | 639 | ||||||||||||||
Other liabilities | 178 | 171 | ||||||||||||||
$ | 1,030 | $ | 1,041 | |||||||||||||
Other_Financial_Data
Other Financial Data | 6 Months Ended | |||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||
Other Financial Data [Abstract] | ' | |||||||||||||||||||
Other Financial Data | ' | |||||||||||||||||||
Other Financial Data | ||||||||||||||||||||
Statement of Operations Information | ||||||||||||||||||||
Other Charges | ||||||||||||||||||||
Other charges included in Operating earnings consist of the following: | ||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Other charges (income): | ||||||||||||||||||||
Intangibles amortization | $ | 1 | $ | — | $ | 2 | $ | — | ||||||||||||
Reorganization of businesses | 25 | 13 | 34 | 20 | ||||||||||||||||
Legal settlement | 8 | — | 8 | — | ||||||||||||||||
Gain on sale of building and land | — | — | (21 | ) | — | |||||||||||||||
$ | 34 | $ | 13 | $ | 23 | $ | 20 | |||||||||||||
During the first quarter of 2014, the Company completed the sale of a building and parcel of land on its Schaumburg, IL campus with a net book value of $3 million for net cash proceeds of $24 million resulting in a gain on sale of $21 million. | ||||||||||||||||||||
Other Income (Expense) | ||||||||||||||||||||
Interest expense, net, and Other, both included in Other income (expense), consist of the following: | ||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Interest income (expense), net: | ||||||||||||||||||||
Interest expense | $ | (34 | ) | $ | (38 | ) | $ | (64 | ) | $ | (68 | ) | ||||||||
Interest income | 5 | 6 | 10 | 11 | ||||||||||||||||
$ | (29 | ) | $ | (32 | ) | $ | (54 | ) | $ | (57 | ) | |||||||||
Other: | ||||||||||||||||||||
Investment impairments | — | (2 | ) | — | (2 | ) | ||||||||||||||
Foreign currency loss | (8 | ) | (4 | ) | $ | (10 | ) | $ | (7 | ) | ||||||||||
Gains on equity method investments | 2 | 1 | 2 | — | ||||||||||||||||
Other | (1 | ) | 2 | (1 | ) | 6 | ||||||||||||||
$ | (7 | ) | $ | (3 | ) | $ | (9 | ) | $ | (3 | ) | |||||||||
Earnings Per Common Share | ||||||||||||||||||||
The computation of basic and diluted earnings per common share is as follows: | ||||||||||||||||||||
Amounts attributable to Motorola Solutions, Inc. common stockholders | ||||||||||||||||||||
Earnings from Continuing Operations | Net Earnings | |||||||||||||||||||
Three Months Ended | June 28, | June 29, | June 28, | June 29, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Basic earnings per common share: | ||||||||||||||||||||
Earnings | $ | 78 | $ | 223 | $ | 824 | $ | 258 | ||||||||||||
Weighted average common shares outstanding | 253.7 | 269.5 | 253.7 | 269.5 | ||||||||||||||||
Per share amount | $ | 0.31 | $ | 0.83 | $ | 3.25 | $ | 0.96 | ||||||||||||
Diluted earnings per common share: | ||||||||||||||||||||
Earnings | $ | 78 | $ | 223 | $ | 824 | $ | 258 | ||||||||||||
Weighted average common shares outstanding | 253.7 | 269.5 | 253.7 | 269.5 | ||||||||||||||||
Add effect of dilutive securities: | ||||||||||||||||||||
Share-based awards | 2.5 | 5.2 | 2.5 | 5.2 | ||||||||||||||||
Diluted weighted average common shares outstanding | 256.2 | 274.7 | 256.2 | 274.7 | ||||||||||||||||
Per share amount | $ | 0.3 | $ | 0.81 | $ | 3.22 | $ | 0.94 | ||||||||||||
Amounts attributable to Motorola Solutions, Inc. common stockholders | ||||||||||||||||||||
Earnings from Continuing Operations | Net Earnings | |||||||||||||||||||
Six Months Ended | June 28, | June 29, | June 28, | June 29, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Basic earnings per common share: | ||||||||||||||||||||
Earnings | $ | 163 | $ | 380 | $ | 951 | $ | 450 | ||||||||||||
Weighted average common shares outstanding | 253.8 | 271.9 | 253.8 | 271.9 | ||||||||||||||||
Per share amount | $ | 0.64 | $ | 1.4 | $ | 3.75 | $ | 1.66 | ||||||||||||
Diluted earnings per common share: | ||||||||||||||||||||
Earnings | $ | 163 | $ | 380 | $ | 951 | $ | 450 | ||||||||||||
Weighted average common shares outstanding | 253.8 | 271.9 | 253.8 | 271.9 | ||||||||||||||||
Add effect of dilutive securities: | ||||||||||||||||||||
Share-based awards | 3.4 | 5.8 | 3.4 | 5.8 | ||||||||||||||||
Diluted weighted average common shares outstanding | 257.2 | 277.7 | 257.2 | 277.7 | ||||||||||||||||
Per share amount | $ | 0.63 | $ | 1.37 | $ | 3.7 | $ | 1.62 | ||||||||||||
In the computation of diluted earnings per common share from both continuing operations and on a net earnings basis for the three and six months ended June 28, 2014, the assumed exercise of 4.6 million and 4.8 million stock options, respectively, were excluded because their inclusion would have been antidilutive. In the computation of diluted earnings per common share from both continuing operations and on a net earnings basis for the three and six months ended June 29, 2013, the assumed exercise of 4.3 million and 4.4 million stock options, respectively, were excluded because their inclusion would have been antidilutive. | ||||||||||||||||||||
Balance Sheet Information | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
The Company’s cash and cash equivalents (which are highly-liquid investments with an original maturity of three months or less) were $2.9 billion at June 28, 2014 and $3.2 billion at December 31, 2013. Of these amounts, $64 million at June 28, 2014 and $63 million at December 31, 2013 were restricted. | ||||||||||||||||||||
Investments | ||||||||||||||||||||
Investments consist of the following: | ||||||||||||||||||||
28-Jun-14 | 31-Dec-13 | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
Government, agency, and government-sponsored enterprise obligations | $ | 15 | $ | 15 | ||||||||||||||||
Corporate bonds | 8 | 7 | ||||||||||||||||||
Mutual funds | 11 | 11 | ||||||||||||||||||
Common stock and equivalents | — | 2 | ||||||||||||||||||
34 | 35 | |||||||||||||||||||
Other investments, at cost | 185 | 182 | ||||||||||||||||||
Equity method investments | 17 | 15 | ||||||||||||||||||
$ | 236 | $ | 232 | |||||||||||||||||
The Company had no unrealized gains or losses on its investments as of both June 28, 2014 and December 31, 2013. | ||||||||||||||||||||
Accounts Receivable, Net | ||||||||||||||||||||
Accounts receivable, net, consists of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Accounts receivable | $ | 1,240 | $ | 1,422 | ||||||||||||||||
Less allowance for doubtful accounts | (55 | ) | (53 | ) | ||||||||||||||||
$ | 1,185 | $ | 1,369 | |||||||||||||||||
Inventories, Net | ||||||||||||||||||||
Inventories, net, consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Finished goods | $ | 142 | $ | 157 | ||||||||||||||||
Work-in-process and production materials | 313 | 315 | ||||||||||||||||||
455 | 472 | |||||||||||||||||||
Less inventory reserves | (125 | ) | (125 | ) | ||||||||||||||||
$ | 330 | $ | 347 | |||||||||||||||||
Other Current Assets | ||||||||||||||||||||
Other current assets consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Costs and earnings in excess of billings | $ | 374 | $ | 390 | ||||||||||||||||
Contract-related deferred costs | 14 | 15 | ||||||||||||||||||
Tax-related deposits and refunds receivable | 64 | 107 | ||||||||||||||||||
Other | 75 | 123 | ||||||||||||||||||
$ | 527 | $ | 635 | |||||||||||||||||
Property, Plant and Equipment, Net | ||||||||||||||||||||
Property, plant and equipment, net, consists of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Land | $ | 21 | $ | 22 | ||||||||||||||||
Building | 554 | 582 | ||||||||||||||||||
Machinery and equipment | 1,840 | 1,760 | ||||||||||||||||||
2,415 | 2,364 | |||||||||||||||||||
Less accumulated depreciation | (1,733 | ) | (1,669 | ) | ||||||||||||||||
$ | 682 | $ | 695 | |||||||||||||||||
Depreciation expense for the three months ended June 28, 2014 and June 29, 2013 was $45 million and $40 million, respectively. Depreciation expense for the six months ended June 28, 2014 and June 29, 2013 was $84 million and $75 million, respectively. | ||||||||||||||||||||
Other Assets | ||||||||||||||||||||
Other assets consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Intangible assets, net | $ | 24 | $ | 6 | ||||||||||||||||
Long-term receivables | 18 | 1 | ||||||||||||||||||
Other | 86 | 82 | ||||||||||||||||||
$ | 128 | $ | 89 | |||||||||||||||||
Accrued Liabilities | ||||||||||||||||||||
Accrued liabilities consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Deferred revenue | $ | 333 | $ | 359 | ||||||||||||||||
Compensation | 212 | 315 | ||||||||||||||||||
Billings in excess of costs and earnings | 354 | 295 | ||||||||||||||||||
Tax liabilities | 76 | 85 | ||||||||||||||||||
Customer reserves | 44 | 52 | ||||||||||||||||||
Dividend payable | 78 | 79 | ||||||||||||||||||
Other | 518 | 578 | ||||||||||||||||||
$ | 1,615 | $ | 1,763 | |||||||||||||||||
Other Liabilities | ||||||||||||||||||||
Other liabilities consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Defined benefit plans, including split dollar life insurance arrangements | $ | 1,654 | $ | 1,751 | ||||||||||||||||
Postretirement health care benefit plan | 118 | 118 | ||||||||||||||||||
Deferred revenue | 150 | 162 | ||||||||||||||||||
Unrecognized tax benefits | 57 | 99 | ||||||||||||||||||
Other | 172 | 184 | ||||||||||||||||||
$ | 2,151 | $ | 2,314 | |||||||||||||||||
Stockholders’ Equity | ||||||||||||||||||||
Share Repurchase Program: The Company paid an aggregate of $416 million during the second quarter of 2014, including transaction costs, to repurchase approximately 6.2 million shares at an average price of $66.96 per share. The Company paid an aggregate of $473 million during the first half of 2014, including transaction costs, to repurchase approximately 7.1 million shares at an average price of $66.88 per share. As of June 28, 2014, the Company had used approximately $5.7 billion of the share repurchase authority, including transaction costs, to repurchase shares, leaving $1.3 billion of authority available for future repurchases. | ||||||||||||||||||||
Payment of Dividends: During the three months ended June 28, 2014 and June 29, 2013, the Company paid $79 million and $71 million, respectively, in cash dividends to holders of its common stock. During the six months ended June 28, 2014 and June 29, 2013, the Company paid $158 million and $143 million, respectively, in cash dividends to holders of its common stock. | ||||||||||||||||||||
On July 31, 2014, the Company announced that its Board of Directors approved an increase in the quarterly cash dividend from $0.31 per share to $0.34 per share of common stock. | ||||||||||||||||||||
Accumulated Other Comprehensive Loss | ||||||||||||||||||||
The following table displays the changes in Accumulated other comprehensive loss, net of tax, by component from January 1, 2014 to June 28, 2014: | ||||||||||||||||||||
Gains and Losses on Cash Flow Hedges | Unrealized Gains and Losses on Available-for-Sale Securities | Retirement Benefit Items | Foreign Currency Translation Adjustments | Total | ||||||||||||||||
Balance as of January 1, 2014 | $ | (1 | ) | $ | (2 | ) | $ | (2,188 | ) | $ | (96 | ) | $ | (2,287 | ) | |||||
Other comprehensive income before reclassifications | — | 2 | — | 15 | 17 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | 1 | — | 24 | — | 25 | |||||||||||||||
Current period change in Other comprehensive income | 1 | 2 | 24 | 15 | 42 | |||||||||||||||
Balance as of June 28, 2014 | $ | — | $ | — | $ | (2,164 | ) | $ | (81 | ) | $ | (2,245 | ) | |||||||
The following table displays the amounts reclassified from Accumulated other comprehensive loss and the affected line items in the condensed consolidated statement of operations during the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 28, 2014 | June 29, | June 28, | June 29, | |||||||||||||||||
2013 | 2014 | 2013 | ||||||||||||||||||
Loss (gain) on cash flow hedges: | ||||||||||||||||||||
Foreign exchange contracts | $ | 1 | $ | — | $ | 1 | $ | (1 | ) | Cost of sales | ||||||||||
1 | — | 1 | (1 | ) | Net of tax | |||||||||||||||
Amortization of retirement benefit items: | ||||||||||||||||||||
Prior service costs | $ | (9 | ) | (14 | ) | $ | (18 | ) | $ | (25 | ) | Selling, general, and administrative expenses | ||||||||
Actuarial net losses | 25 | 40 | 53 | 79 | Selling, general, and administrative expenses | |||||||||||||||
16 | 26 | 35 | 54 | Total before tax | ||||||||||||||||
(5 | ) | (10 | ) | (11 | ) | (19 | ) | Tax benefit | ||||||||||||
$ | 11 | $ | 16 | $ | 24 | $ | 35 | Net of tax | ||||||||||||
Total reclassifications for the period, net of tax | $ | 12 | $ | 16 | $ | 25 | $ | 34 | ||||||||||||
Debt_and_Credit_Facilities
Debt and Credit Facilities | 6 Months Ended |
Jun. 28, 2014 | |
Debt Disclosure [Abstract] | ' |
Debt and Credit Facilities | ' |
Debt and Credit Facilities | |
As of June 28, 2014, the Company had a $2.0 billion unsecured syndicated revolving credit facility (the “2014 Motorola Solutions Credit Agreement”) scheduled to mature on May 29, 2019. Effective May 29, 2014, this facility replaced the previous $1.5 billion unsecured syndicated revolving credit facility (the “2011 Motorola Solutions Credit Agreement”) which was scheduled to mature on June 30, 2014. The Company must comply with certain customary covenants, including maximum leverage ratio as defined in the 2014 Motorola Solutions Credit Agreement. The Company is no longer subject to a minimum interest coverage covenant under the new facility. The Company was in compliance with its financial covenants as of June 28, 2014. The Company did not borrow under the 2011 Motorola Solutions Credit Agreement or the 2014 Motorola Solutions Credit Agreement during the three and six months ended June 28, 2014. | |
As of June 28, 2014, the Company had a letter of credit sub-limit of $450 million under the 2014 Motorola Solutions Credit Agreement. No letters of credit were issued under the revolving credit facility as of June 28, 2014. | |
During the first quarter of 2013, the Company issued an aggregate face principal amount of $600 million of 3.500% Senior Notes due 2023, of which, after debt issuance costs and debt discounts, the Company recognized net proceeds from issuance of this debt of $588 million. |
Risk_Management
Risk Management | 6 Months Ended | |||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||
Risk Management [Abstract] | ' | |||||||||||||||||
Risk Management | ' | |||||||||||||||||
Risk Management | ||||||||||||||||||
Foreign Currency Risk | ||||||||||||||||||
At June 28, 2014, the Company had outstanding foreign exchange contracts with notional amounts totaling $867 million, compared to $837 million outstanding at December 31, 2013. The Company does not believe these financial instruments should subject it to undue risk due to foreign exchange movements because gains and losses on these contracts should generally offset gains and losses on the underlying assets, liabilities and transactions, except for the ineffective portion of the instruments, which are charged to Other within Other income (expense) in the Company’s condensed consolidated statements of operations. | ||||||||||||||||||
The following table shows the five largest net notional amounts of the positions to buy or sell foreign currency as of June 28, 2014, and the corresponding positions as of December 31, 2013: | ||||||||||||||||||
Notional Amount | ||||||||||||||||||
Net Buy (Sell) by Currency | June 28, | December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||||
British Pound | $ | 243 | $ | 257 | ||||||||||||||
Chinese Renminbi | (184 | ) | (181 | ) | ||||||||||||||
Euro | 146 | (132 | ) | |||||||||||||||
Norwegian Krone | (120 | ) | (95 | ) | ||||||||||||||
Brazilian Real | (54 | ) | (44 | ) | ||||||||||||||
Interest Rate Risk | ||||||||||||||||||
At June 28, 2014, the Company had $2.5 billion of long-term debt, including the current portion, which is primarily priced at long-term, fixed interest rates. | ||||||||||||||||||
As part of its liability management program, one of the Company’s European subsidiaries has outstanding interest rate agreements (“Interest Agreements”) relating to Euro-denominated loans. The interest on the Euro-denominated loans is variable. The Interest Agreements change the characteristics of interest payments from variable to maximum fixed-rate payments. The Interest Agreements are not accounted for as a part of a hedging relationship and, accordingly, the changes in the fair value of the Interest Agreements are included in Other income (expense) in the Company’s condensed consolidated statements of operations. The fair value of the Interest Agreements was in a liability position of $3 million at June 28, 2014 and December 31, 2013. | ||||||||||||||||||
Counterparty Risk | ||||||||||||||||||
The use of derivative financial instruments exposes the Company to counterparty credit risk in the event of non-performance by counterparties. However, the Company’s risk is limited to the fair value of the instruments when the derivative is in an asset position. The Company actively monitors its exposure to credit risk. As of June 28, 2014, all of the counterparties have investment grade credit ratings. As of June 28, 2014, the Company had no exposure to aggregate net credit risk with all counterparties. | ||||||||||||||||||
The following tables summarize the fair values and location in the condensed consolidated balance sheets of all derivative financial instruments held by the Company at June 28, 2014 and December 31, 2013: | ||||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Assets | Liabilities | |||||||||||||||||
June 28, 2014 | Fair | Balance | Fair | Balance | ||||||||||||||
Value | Sheet | Value | Sheet | |||||||||||||||
Location | Location | |||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Foreign exchange contracts | $ | 1 | Other assets | $ | 3 | Other liabilities | ||||||||||||
Interest agreements | — | Other assets | 3 | Other liabilities | ||||||||||||||
Total derivatives | $ | 1 | $ | 6 | ||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Assets | Liabilities | |||||||||||||||||
December 31, 2013 | Fair | Balance | Fair | Balance | ||||||||||||||
Value | Sheet | Value | Sheet | |||||||||||||||
Location | Location | |||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||
Foreign exchange contracts | $ | — | Other assets | $ | 1 | Other liabilities | ||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Foreign exchange contracts | 4 | Other assets | 1 | Other liabilities | ||||||||||||||
Interest agreements | — | Other assets | 3 | Other liabilities | ||||||||||||||
Total derivatives not designated as hedging instruments | 4 | 4 | ||||||||||||||||
Total derivatives | $ | 4 | $ | 5 | ||||||||||||||
The following table summarizes the effect of derivative instruments in the Company's condensed consolidated statements of operations for the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||||
Three Months Ended | Six Months Ended | Statements of | ||||||||||||||||
Gain (loss) on Derivative Instruments | June 28, | June 29, | June 28, | June 29, | Operations Location | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Interest rate contracts | $ | — | $ | 1 | $ | — | $ | 1 | Other income (expense) | |||||||||
Foreign exchange contracts | (1 | ) | 8 | (2 | ) | (9 | ) | Other income (expense) | ||||||||||
Total derivatives not designated as hedging instruments | $ | (1 | ) | $ | 9 | $ | (2 | ) | $ | (8 | ) | |||||||
The following table summarizes the gains and losses reclassified from Accumulated other comprehensive loss into Net earnings during the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||||
Three Months Ended | Six Months Ended | Financial Statement | ||||||||||||||||
Foreign Exchange Contracts | June 28, | June 29, | 28-Jun-14 | 29-Jun-13 | Location | |||||||||||||
2014 | 2013 | |||||||||||||||||
Derivatives in cash flow hedging relationships: | ||||||||||||||||||
Gains (losses) reclassified from Accumulated other comprehensive loss into Net earnings | $ | (1 | ) | $ | — | $ | (1 | ) | $ | 1 | Costs of sales | |||||||
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 28, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
During the three months ended June 28, 2014, the Company increased current deferred tax assets by $721 million related to an outside basis difference. The outside basis difference represents the excess of the tax basis of our investment in the Enterprise subsidiaries over the financial statement carrying value (the deductible outside basis difference). | |
At June 28, 2014 and December 31, 2013, the Company had valuation allowances of $212 million and $200 million, respectively, including $179 million and $178 million, respectively, relating to deferred tax assets for non-U.S. subsidiaries. The Company believes the remaining deferred tax assets are more-likely-than-not to be realizable based on estimates of future taxable income and the implementation of tax planning strategies. | |
Undistributed earnings the Company intends to reinvest indefinitely, and for which no income taxes have been provided, aggregate to $1.4 billion at June 28, 2014 and December 31, 2013. The Company currently has no plans to repatriate the foreign earnings permanently reinvested and therefore, the time and manner of repatriation is uncertain. If circumstances change and it becomes apparent that some or all of the permanently reinvested earnings will be remitted to the U.S. in the foreseeable future, an additional income tax charge may be necessary. | |
The Company evaluates its permanent reinvestment assertions with respect to foreign earnings at each reporting period and, except for certain earnings the Company intends to reinvest indefinitely, accrues for the U.S. federal and foreign tax applicable to the earnings. During the first quarter of 2013, the Company reassessed its unremitted earnings position and concluded that certain of its non-U.S. subsidiaries' earnings were permanently reinvested overseas. The Company intends to utilize the offshore earnings to fund foreign investments, such as potential acquisitions and capital expenditures. In the first quarter of 2013, the Company recorded a net tax benefit of $25 million related to reversals of deferred tax liabilities for undistributed foreign earnings due to the change in permanent reinvestment assertion. | |
As of June 28, 2014, the Company has approximately $650 million of foreign earnings not considered permanently reinvested and which may be repatriated without an additional tax charge, given the U.S. federal and foreign tax accrued on undistributed earnings and the utilization of available foreign tax credits. | |
The Company had unrecognized tax benefits of $120 million and $147 million at June 28, 2014 and December 31, 2013, respectively, of which $99 million and $125 million, respectively, if recognized, would affect the effective tax rate, net of resulting changes to valuation allowances. During the six months ended June 28, 2014, the Company adjusted its unrecognized tax benefits for prior year tax positions for facts that now indicate the extent to which certain tax positions are more-likely-than-not of being sustained. As a result, the Company recorded a gross increase of $24 million and a gross decrease of $51 million to unrecognized tax benefits for prior year tax positions resulting in a net tax benefit of $27 million. | |
Based on the potential outcome of the Company’s global tax examinations or the expiration of the statute of limitations for specific jurisdictions, it is reasonably possible that the unrecognized tax benefits will change within the next twelve months. The associated net tax impact on the effective tax rate, exclusive of valuation allowance changes, is estimated to be in the range of a $50 million tax charge to a $50 million tax benefit, with cash payments not to exceed $25 million. | |
The Company has audits pending in several tax jurisdictions. Although the final resolution of the Company's global tax disputes is uncertain, based on current information, in the opinion of the Company's management, the ultimate disposition of these matters is not expected to have a material adverse effect on the Company's consolidated financial position, liquidity or results of operations. However, an unfavorable resolution of the Company's global tax disputes could have a material adverse effect on the Company's consolidated financial position, liquidity or results of operations in the periods in which the matters are ultimately resolved. |
Retirement_and_Other_Employee_
Retirement and Other Employee Benefits | 6 Months Ended | |||||||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||||||
Retirement Benefits [Abstract] | ' | |||||||||||||||||||||||
Retirement Benefits | ' | |||||||||||||||||||||||
Retirement and Other Employee Benefits | ||||||||||||||||||||||||
Pension and Postretirement Health Care Benefits Plans | ||||||||||||||||||||||||
The net periodic costs (benefits) for Pension and Postretirement Health Care Benefits plans were as follows: | ||||||||||||||||||||||||
U.S. Pension Benefit Plans | Non U.S. Pension Benefit Plans | Postretirement Health Care Benefits Plan | ||||||||||||||||||||||
Three Months Ended | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | ||||||||||||||||||
Service cost | $ | — | $ | — | $ | 4 | $ | 3 | $ | 1 | $ | — | ||||||||||||
Interest cost | 93 | 88 | 20 | 16 | 3 | 3 | ||||||||||||||||||
Expected return on plan assets | (98 | ) | (90 | ) | (23 | ) | (18 | ) | (2 | ) | (3 | ) | ||||||||||||
Amortization of: | ||||||||||||||||||||||||
Unrecognized net loss | 21 | 33 | 3 | 3 | 3 | 3 | ||||||||||||||||||
Unrecognized prior service cost (benefit) | — | — | 2 | (2 | ) | (11 | ) | (11 | ) | |||||||||||||||
Net periodic pension cost (benefit) | $ | 16 | $ | 31 | $ | 6 | $ | 2 | $ | (6 | ) | $ | (8 | ) | ||||||||||
U.S. Pension Benefit Plans | Non U.S. Pension Benefit Plans | Postretirement Health Care Benefits Plan | ||||||||||||||||||||||
Six Months Ended | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | ||||||||||||||||||
Service cost | $ | — | $ | — | $ | 7 | $ | 6 | $ | 1 | $ | 1 | ||||||||||||
Interest cost | 185 | 176 | 40 | 33 | 6 | 6 | ||||||||||||||||||
Expected return on plan assets | (196 | ) | (182 | ) | (45 | ) | (37 | ) | (5 | ) | (5 | ) | ||||||||||||
Amortization of: | ||||||||||||||||||||||||
Unrecognized net loss | 44 | 66 | 6 | 6 | 6 | 7 | ||||||||||||||||||
Unrecognized prior service cost (benefit) | — | — | 3 | (4 | ) | (21 | ) | (22 | ) | |||||||||||||||
Net periodic pension cost (benefit) | $ | 33 | $ | 60 | $ | 11 | $ | 4 | $ | (13 | ) | $ | (13 | ) | ||||||||||
During the three months ended June 28, 2014 and June 29, 2013, contributions of $40 million and $26 million were made to the Company’s U.S. Pension Benefit Plans, respectively. During both the three months ended June 28, 2014 and June 29, 2013, contributions of $3 million were made to the Company’s Non U.S. Pension Benefit Plans. | ||||||||||||||||||||||||
During the six months ended June 28, 2014 and June 29, 2013, contributions of $66 million and $50 million were made to the Company’s U.S. Pension Benefit Plans, respectively. During the six months ended June 28, 2014 and June 29, 2013, contributions of $20 million and $17 million were made to the Company’s Non U.S. Pension Benefit Plans, respectively. | ||||||||||||||||||||||||
The Company made no contributions to its Postretirement Health Care Benefits Plan during the three and six months ended June 28, 2014 and June 29, 2013. |
ShareBased_Compensation_Plans
Share-Based Compensation Plans | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Share-Based Compensation Plans | ' | |||||||||||||||
Share-Based Compensation Plans | ||||||||||||||||
Compensation expense for the Company’s employee stock options, stock appreciation rights, employee stock purchase plan, restricted stock and restricted stock units (“RSUs”) was as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Share-based compensation expense included in: | ||||||||||||||||
Costs of sales | $ | 3 | $ | 4 | $ | 7 | $ | 8 | ||||||||
Selling, general and administrative expenses | 16 | 16 | 33 | 38 | ||||||||||||
Research and development expenditures | 7 | 7 | 14 | 16 | ||||||||||||
Share-based compensation expense included in Operating earnings | 26 | 27 | 54 | 62 | ||||||||||||
Tax benefit | 8 | 8 | 17 | 19 | ||||||||||||
Share-based compensation expense, net of tax | $ | 18 | $ | 19 | $ | 37 | $ | 43 | ||||||||
Decrease in basic earnings per share | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.15 | ) | $ | (0.16 | ) | ||||
Decrease in diluted earnings per share | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.14 | ) | $ | (0.15 | ) | ||||
Share-based compensation expense in discontinued operations | $ | 5 | $ | 7 | $ | 13 | $ | 17 | ||||||||
For the six months ended June 28, 2014, the Company granted 1.2 million RSUs and 1.2 million stock options. The total aggregate compensation expense, net of estimated forfeitures, for these RSUs and stock options, including those awards granted to employees of the Enterprise business, was $63 million and $15 million, respectively, which will be recognized over a weighted average vesting period of three years. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||
Jun. 28, 2014 | ||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||
Fair Value Measurements | ' | |||||||||||
Fair Value Measurements | ||||||||||||
The Company holds certain fixed income securities, equity securities and derivatives, which are recognized and disclosed at fair value in the financial statements on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Fair value is measured using the fair value hierarchy and related valuation methodologies as defined in the authoritative literature. This guidance specifies a hierarchy of valuation techniques based on whether the inputs to each measurement are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's assumptions about current market conditions. | ||||||||||||
The fair value hierarchy and related valuation methodologies are as follows: | ||||||||||||
Level 1—Quoted prices for identical instruments in active markets. | ||||||||||||
Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. | ||||||||||||
Level 3—Valuations derived from valuation techniques, in which one or more significant inputs are unobservable. | ||||||||||||
The fair values of the Company’s financial assets and liabilities by level in the fair value hierarchy as of June 28, 2014 and December 31, 2013 were as follows: | ||||||||||||
June 28, 2014 | Level 2 | |||||||||||
Assets: | ||||||||||||
Foreign exchange derivative contracts | $ | 1 | ||||||||||
Available-for-sale securities: | ||||||||||||
Government, agency, and government-sponsored enterprise obligations | 15 | |||||||||||
Corporate bonds | 8 | |||||||||||
Mutual funds | 11 | |||||||||||
Liabilities: | ||||||||||||
Foreign exchange derivative contracts | $ | 3 | ||||||||||
Interest agreement derivative contracts | 3 | |||||||||||
December 31, 2013 | Level 1 | Level 2 | Total | |||||||||
Assets: | ||||||||||||
Foreign exchange derivative contracts | $ | — | $ | 4 | $ | 4 | ||||||
Available-for-sale securities: | ||||||||||||
Government, agency, and government-sponsored enterprise obligations | — | 15 | 15 | |||||||||
Corporate bonds | — | 7 | 7 | |||||||||
Mutual funds | — | 11 | 11 | |||||||||
Common stock and equivalents | 2 | — | 2 | |||||||||
Liabilities: | ||||||||||||
Foreign exchange derivative contracts | $ | — | $ | 2 | $ | 2 | ||||||
Interest agreement derivative contracts | — | 3 | 3 | |||||||||
The Company had no Level 3 holdings as of June 28, 2014 or December 31, 2013. | ||||||||||||
At June 28, 2014 and December 31, 2013, the Company had $1.8 billion and $2.1 billion, respectively, of investments in money market mutual funds (Level 2) classified as Cash and cash equivalents in its condensed consolidated balance sheets. The money market funds had quoted market prices that are equivalent to par. | ||||||||||||
Using quoted market prices and market interest rates, the Company determined that the fair value of long-term debt at June 28, 2014 was $2.6 billion (Level 2), as compared to the instruments' face value of $2.5 billion. Since considerable judgment is required in interpreting market information, the fair value of the long-term debt is not necessarily indicative of the amount which could be realized in a current market exchange. | ||||||||||||
All other financial instruments are carried at cost, which is not materially different from the instruments’ fair values. |
Longterm_Customer_Financing_An
Long-term Customer Financing And Sales Of Receivables | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Long-Term Customer Financing And Sales Of Receivables [Abstract] | ' | |||||||||||||||
Long-term Customer Financing And Sales Of Receivables | ' | |||||||||||||||
Long-term Customer Financing and Sales of Receivables | ||||||||||||||||
Long-term Customer Financing | ||||||||||||||||
Long-term customer financing receivables consist of trade receivables with payment terms greater than twelve months, long-term loans and lease receivables under sales-type leases. Long-term customer financing receivables consist of the following: | ||||||||||||||||
June 28, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Long-term receivables | $ | 37 | $ | 27 | ||||||||||||
Less current portion | (19 | ) | (26 | ) | ||||||||||||
Non-current long-term receivables, net | $ | 18 | $ | 1 | ||||||||||||
The current portion of long-term receivables is included in Accounts receivable, net and the non-current portion of long-term receivables is included in Other assets in the Company’s condensed consolidated balance sheets. | ||||||||||||||||
Certain purchasers of the Company’s products and services may request that the Company provide long-term financing (defined as financing with a term of greater than one year) in connection with the sale of products and services. These requests may include all or a portion of the purchase price of the products and services. The Company’s obligation to provide long-term financing may be conditioned on the issuance of a letter of credit in favor of the Company by a reputable bank to support the purchaser’s credit or a pre-existing commitment from a reputable bank to purchase the long-term receivables from the Company. The Company had outstanding commitments to provide long-term financing to third parties totaling $166 million at June 28, 2014, compared to $50 million at December 31, 2013. | ||||||||||||||||
Sales of Receivables | ||||||||||||||||
The following table summarizes the proceeds received from sales of accounts receivable and long-term receivables for the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Cumulative annual proceeds received from sales: | ||||||||||||||||
Accounts receivable sales proceeds | $ | 26 | $ | 2 | $ | 33 | $ | 3 | ||||||||
Long-term receivables sales proceeds | 52 | 25 | 52 | 52 | ||||||||||||
Total proceeds from receivable sales | $ | 78 | $ | 27 | $ | 85 | $ | 55 | ||||||||
At June 28, 2014, the Company had retained servicing obligations for $460 million of long-term receivables, compared to $434 million of long-term receivables at December 31, 2013. Servicing obligations are limited to collection activities related to the sales of accounts receivables and long-term receivables. | ||||||||||||||||
Credit Quality of Customer Financing Receivables and Allowance for Credit Losses | ||||||||||||||||
An aging analysis of financing receivables at June 28, 2014 and December 31, 2013 is as follows: | ||||||||||||||||
June 28, 2014 | Total | Current Billed | Past Due Under 90 Days | Past Due Over 90 Days | ||||||||||||
Long-term | Due | |||||||||||||||
Receivable | ||||||||||||||||
Municipal leases secured tax exempt | $ | 1 | $ | — | $ | — | $ | — | ||||||||
Commercial loans and leases secured | 36 | 1 | 2 | 12 | ||||||||||||
Total gross long-term receivables, including current portion | $ | 37 | $ | 1 | $ | 2 | $ | 12 | ||||||||
December 31, 2013 | Total | Current Billed | Past Due Under 90 Days | Past Due Over 90 Days | ||||||||||||
Long-term | Due | |||||||||||||||
Receivable | ||||||||||||||||
Municipal leases secured tax exempt | $ | 1 | $ | — | $ | — | $ | — | ||||||||
Commercial loans and leases secured | 26 | 10 | 2 | 10 | ||||||||||||
Total gross long-term receivables, including current portion | $ | 27 | $ | 10 | $ | 2 | $ | 10 | ||||||||
The Company had a total of $12 million of financing receivables past due over 90 days as of June 28, 2014 in relation to two loans. The Company has not accrued interest on these loans, which are adequately reserved, during the three and six months ended June 28, 2014. |
Commitments_And_Contingencies
Commitments And Contingencies | 6 Months Ended |
Jun. 28, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
Commitments and Contingencies | |
Legal Matters | |
The Company is a defendant in various suits, claims and investigations that arise in the normal 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 consolidated financial position, liquidity or results of operations. However, an unfavorable resolution could have a material adverse effect on the Company’s results of operations in the periods in which the matters are ultimately resolved. | |
Other Indemnifications | |
The Company is a party to a variety of agreements pursuant to which it is obligated to indemnify the other party with respect to certain matters. In indemnification cases, payment by the Company is conditioned on the other party making a claim pursuant to the procedures specified in the particular contract, which procedures typically allow the Company to challenge the other party's claims. In some instances, the Company may have recourse against third parties for certain payments made by the Company. | |
In addition, the Company may provide indemnifications for losses that result from the breach of general warranties contained in certain commercial and intellectual property agreements. Historically, the Company has not made significant payments under these agreements. | |
Also, pursuant to the Master Separation and Distribution Agreement and certain other agreements entered into in connection with the separating of Motorola Mobility Holdings, Inc. ("Motorola Mobility"), Motorola Mobility agreed to indemnify the Company for certain liabilities, and the Company agreed to indemnify Motorola Mobility for certain liabilities, in each case for uncapped amounts. |
Segment_Information
Segment Information | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Information By Segment and Geographic Region [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
Segment Information | ||||||||||||||||
As a result of the reclassification of the Enterprise business to discontinued operations beginning in the second quarter of 2014, the Company has the following two segments: | ||||||||||||||||
Products: The Products segment offers an extensive portfolio of network infrastructure, devices, system software and applications for the public safety, hospitality, education, manufacturing, transportation, utilities, mining and retail industries, including: (i) “ASTRO” products, which meet the Association of Public Safety Communications Officials Project 25 standard, (ii) “Dimetra” products which meet the European Telecommunications Standards Institute Terrestrial Trunked Radio “TETRA” standard, (iii) Professional and Commercial Radio (“PCR”) products, (iv) integrated digital enhanced network (“iDEN”) products, and (v) broadband technology products, such as Long-Term Evolution (“LTE”). In addition, the Products segment offers smart public safety solutions including computer-aided dispatch, records systems, data management systems and Real Time Crime Center solutions. | ||||||||||||||||
Services: The Services segment has a full breadth of service offerings for both public safety and private communication networks including: (i) Integration services, (ii) Lifecycle Management and Support services, (iii) Managed services, and (iv) Solutions services. Integration services includes implementation, optimization, and integration of networks, devices, and applications. Lifecycle Management and Support services includes lifecycle planning, upgrades, call center, network monitoring, and repair services. Managed services includes managing customer networks at defined services levels. Solutions services includes integration of hardware and software to meet customer needs. | ||||||||||||||||
The following table summarizes the Net sales by segment: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Products | $ | 887 | $ | 986 | $ | 1,640 | $ | 1,899 | ||||||||
Services | 506 | 511 | 982 | 994 | ||||||||||||
$ | 1,393 | $ | 1,497 | $ | 2,622 | $ | 2,893 | |||||||||
The following table summarizes the Operating earnings by segment: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Products | $ | 95 | $ | 125 | $ | 134 | $ | 231 | ||||||||
Services | 43 | 78 | 111 | 145 | ||||||||||||
Operating earnings | 138 | 203 | 245 | 376 | ||||||||||||
Total other expense | (40 | ) | (35 | ) | (59 | ) | (53 | ) | ||||||||
Earnings from continuing operations before income taxes | $ | 98 | $ | 168 | $ | 186 | $ | 323 | ||||||||
Reorganization_Of_Businesses
Reorganization Of Businesses | 6 Months Ended | |||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||
Reorganization Of Businesses [Abstract] | ' | |||||||||||||||||||
Reorganization Of Businesses | ' | |||||||||||||||||||
Reorganization of Businesses | ||||||||||||||||||||
2014 Charges | ||||||||||||||||||||
During the three months ended June 28, 2014, the Company recorded net reorganization of business charges of $28 million including $25 million of charges in Other charges, and $3 million of charges in Cost of sales in the Company's condensed consolidated statements of operations. The $28 million of charges were all related to employee separation costs. | ||||||||||||||||||||
During the six months ended June 28, 2014, the Company recorded net reorganization of business charges of $38 million including $34 million of charges in Other charges, and $4 million of charges in Cost of sales in the Company's condensed consolidated statements of operations. Included in the $38 million were charges of $34 million for employee separation costs and $4 million for exit costs. | ||||||||||||||||||||
The following table displays the net charges incurred by segment: | ||||||||||||||||||||
June 28, 2014 | Three Months Ended | Six Months Ended | ||||||||||||||||||
Products | $ | 18 | $ | 24 | ||||||||||||||||
Services | 10 | 14 | ||||||||||||||||||
$ | 28 | $ | 38 | |||||||||||||||||
The following table displays a rollforward of the reorganization of businesses accruals established for lease exit costs and employee separation costs, including those related to discontinued operations which will be maintained by the Company after the sale of the Enterprise business, from January 1, 2014 to June 28, 2014: | ||||||||||||||||||||
January 1, 2014 | Additional | Adjustments | Amount | June 28, 2014 | ||||||||||||||||
Charges | Used | |||||||||||||||||||
Exit costs | $ | 6 | $ | 6 | $ | — | $ | (5 | ) | $ | 7 | |||||||||
Employee separation costs | 103 | 47 | (2 | ) | (70 | ) | 78 | |||||||||||||
$ | 109 | $ | 53 | $ | (2 | ) | $ | (75 | ) | $ | 85 | |||||||||
Exit Costs | ||||||||||||||||||||
At January 1, 2014, the Company had an accrual of $6 million for exit costs attributable to lease terminations. During the six months ended June 28, 2014, there were $6 million of additional charges and $5 million of cash payments related to the exit of leased facilities. The remaining accrual of $7 million, which is included in Accrued liabilities in the Company’s condensed consolidated balance sheets at June 28, 2014, primarily represents future cash payments for lease termination obligations that are expected to be paid over a number of years. | ||||||||||||||||||||
Employee Separation Costs | ||||||||||||||||||||
At January 1, 2014, the Company had an accrual of $103 million for employee separation costs. The 2014 additional charges of $47 million represent severance costs for approximately 600 employees, all of which were indirect employees. The adjustment of $2 million reflects reversals of accruals no longer needed. The $70 million used reflects cash payments, including $25 million related to employees of discontinued operations. The remaining accrual of $78 million, which is included in Accrued liabilities in the Company’s condensed consolidated balance sheets at June 28, 2014, is expected to be paid, primarily within one year, to approximately 750 employees, who have either been severed or have been notified of their severance and have begun or will begin receiving payments. | ||||||||||||||||||||
2013 Charges | ||||||||||||||||||||
During the three months ended June 29, 2013, the Company recorded net reorganization of business charges of $18 million, including $13 million of charges in Other charges and $5 million of charges in Cost of sales in the Company's condensed consolidated statements of operations. Included in the aggregate $18 million were charges of $19 million related to employee separation costs, partially offset by $1 million of reversals for accruals no longer needed. | ||||||||||||||||||||
During the six months ended June 29, 2013, the Company recorded net reorganization of business charges of $25 million, including $20 million of charges in Other charges and $5 million of charges in Cost of sales in the Company's condensed consolidated statements of operations. Included in the aggregate $25 million were charges of $29 million related to employee separation costs, partially offset by $4 million of reversals for accruals no longer needed. | ||||||||||||||||||||
The following table displays the net charges incurred by segment: | ||||||||||||||||||||
June 29, 2013 | Three Months Ended | Six Months Ended | ||||||||||||||||||
Products | $ | 12 | $ | 17 | ||||||||||||||||
Services | 6 | 8 | ||||||||||||||||||
$ | 18 | $ | 25 | |||||||||||||||||
Intangible_Assets_And_Goodwill
Intangible Assets And Goodwill | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Intangible Assets and Goodwill | ' | |||||||||||||||
Intangible Assets and Goodwill | ||||||||||||||||
Intangible Assets | ||||||||||||||||
Amortized intangible assets were comprised of the following: | ||||||||||||||||
June 28, 2014 | December 31, 2013 | |||||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||
Amount | Amount | |||||||||||||||
Completed technology | $ | 35 | $ | 25 | $ | 24 | $ | 24 | ||||||||
Patents | 8 | 4 | 8 | 3 | ||||||||||||
Customer-related | 13 | 6 | 6 | 6 | ||||||||||||
Other intangibles | 17 | 14 | 15 | 14 | ||||||||||||
$ | 73 | $ | 49 | $ | 53 | $ | 47 | |||||||||
Amortization expense on intangible assets was $1 million for the three months ended June 28, 2014 and $2 million for the six months ended June 28, 2014. There was no amortization expense incurred during the three or six months ended June 29, 2013. As of June 28, 2014, annual amortization expense is estimated to be $4 million in 2014, 2015, and 2016, and $3 million in 2017 and 2018. | ||||||||||||||||
Amortized intangible assets, excluding goodwill, were comprised of the following by segment: | ||||||||||||||||
June 28, 2014 | December 31, 2013 | |||||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||
Amount | Amount | |||||||||||||||
Products | $ | 70 | $ | 49 | $ | 53 | $ | 47 | ||||||||
Services | 3 | — | — | — | ||||||||||||
$ | 73 | $ | 49 | $ | 53 | $ | 47 | |||||||||
Goodwill | ||||||||||||||||
During the second quarter of 2014 as a result of the reclassification of the Enterprise business to discontinued operations, the Company determined the reportable segments and reporting units of its continuing operations. The Company now has two segments, Products and Services, which are the same as its reporting units. The Company's goodwill was allocated to its new reporting units based on their relative fair values. In conjunction with the reporting unit change in the second quarter of 2014, the Company evaluated its goodwill for impairment concluding it is more-likely-than-not that the fair values of each of its reporting units exceed their respective carrying values. As such, a goodwill impairment was not recorded. | ||||||||||||||||
The following table displays a rollforward of the carrying amount of goodwill by segment from January 1, 2014 to June 28, 2014: | ||||||||||||||||
Products | Services | Total | ||||||||||||||
Balance as of January 1, 2014 | ||||||||||||||||
Aggregate goodwill | $ | 249 | $ | 112 | $ | 361 | ||||||||||
Accumulated impairment losses | — | — | — | |||||||||||||
Goodwill, net of impairment losses | $ | 249 | $ | 112 | $ | 361 | ||||||||||
Goodwill acquired | 15 | 7 | 22 | |||||||||||||
Balance as of June 28, 2014 | ||||||||||||||||
Aggregate goodwill | $ | 264 | $ | 119 | $ | 383 | ||||||||||
Accumulated impairment losses | — | — | — | |||||||||||||
Goodwill, net of impairment losses | $ | 264 | $ | 119 | $ | 383 | ||||||||||
On December 31, 2013, the Company completed the acquisition of a communications software provider in push-to-talk-over-broadband applications for a gross purchase price of $48 million. During the six months ended June 28, 2014, the Company completed the purchase accounting for this acquisition, recognizing $22 million of goodwill and $20 million of identifiable intangible assets. The results of operations for this acquisition have been included in the Company’s condensed consolidated statement of operations subsequent to the acquisition date. The pro forma effects of this acquisition were not significant. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||||||
Summarized Activity Of Discontinued Operations | ' | |||||||||||||||
The following table displays summarized activity in the Company's condensed consolidated statements of operations for discontinued operations during the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net sales | $ | 560 | $ | 610 | $ | 1,133 | $ | 1,187 | ||||||||
Operating earnings | 55 | 63 | 118 | 106 | ||||||||||||
Loss on sales of investments and businesses, net | (1 | ) | — | (1 | ) | — | ||||||||||
Investment impairments | (3 | ) | (2 | ) | (3 | ) | (2 | ) | ||||||||
Earnings before income taxes | 50 | 57 | 112 | 106 | ||||||||||||
Income tax expense (benefit) | (696 | ) | 22 | (676 | ) | 36 | ||||||||||
Earnings from discontinued operations, net of tax | $ | 746 | $ | 35 | $ | 788 | $ | 70 | ||||||||
During the three months ended June 28, 2014, the Company recorded a $721 million tax benefit to establish a deferred tax asset associated with an outside basis difference which we now expect to realize in the foreseeable future. The tax benefit represents the excess of the tax basis of our investment in the Enterprise subsidiaries over the financial statement carrying value (the deductible outside basis difference). | ||||||||||||||||
The following table displays a summary of the assets and liabilities held for sale as of June 28, 2014 and December 31, 2013: | ||||||||||||||||
June 28, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Assets: | ||||||||||||||||
Accounts receivable, net | $ | 468 | $ | 551 | ||||||||||||
Inventories, net | 215 | 175 | ||||||||||||||
Deferred income taxes | 225 | 219 | ||||||||||||||
Other current assets | 132 | 134 | ||||||||||||||
Property, plant and equipment, net | 94 | 115 | ||||||||||||||
Investments | 20 | 19 | ||||||||||||||
Goodwill | 1,151 | 1,149 | ||||||||||||||
Other assets | 102 | 95 | ||||||||||||||
$ | 2,407 | $ | 2,457 | |||||||||||||
Liabilities: | ||||||||||||||||
Accounts payable | $ | 196 | $ | 231 | ||||||||||||
Accrued liabilities | 656 | 639 | ||||||||||||||
Other liabilities | 178 | 171 | ||||||||||||||
$ | 1,030 | $ | 1,041 | |||||||||||||
Other_Financial_Data_Tables
Other Financial Data (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||
Other Financial Data [Abstract] | ' | |||||||||||||||||||
Other Charges | ' | |||||||||||||||||||
Other charges included in Operating earnings consist of the following: | ||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Other charges (income): | ||||||||||||||||||||
Intangibles amortization | $ | 1 | $ | — | $ | 2 | $ | — | ||||||||||||
Reorganization of businesses | 25 | 13 | 34 | 20 | ||||||||||||||||
Legal settlement | 8 | — | 8 | — | ||||||||||||||||
Gain on sale of building and land | — | — | (21 | ) | — | |||||||||||||||
$ | 34 | $ | 13 | $ | 23 | $ | 20 | |||||||||||||
Other Income (Expense) | ' | |||||||||||||||||||
Interest expense, net, and Other, both included in Other income (expense), consist of the following: | ||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Interest income (expense), net: | ||||||||||||||||||||
Interest expense | $ | (34 | ) | $ | (38 | ) | $ | (64 | ) | $ | (68 | ) | ||||||||
Interest income | 5 | 6 | 10 | 11 | ||||||||||||||||
$ | (29 | ) | $ | (32 | ) | $ | (54 | ) | $ | (57 | ) | |||||||||
Other: | ||||||||||||||||||||
Investment impairments | — | (2 | ) | — | (2 | ) | ||||||||||||||
Foreign currency loss | (8 | ) | (4 | ) | $ | (10 | ) | $ | (7 | ) | ||||||||||
Gains on equity method investments | 2 | 1 | 2 | — | ||||||||||||||||
Other | (1 | ) | 2 | (1 | ) | 6 | ||||||||||||||
$ | (7 | ) | $ | (3 | ) | $ | (9 | ) | $ | (3 | ) | |||||||||
Earnings Per Common Share | ' | |||||||||||||||||||
The computation of basic and diluted earnings per common share is as follows: | ||||||||||||||||||||
Amounts attributable to Motorola Solutions, Inc. common stockholders | ||||||||||||||||||||
Earnings from Continuing Operations | Net Earnings | |||||||||||||||||||
Three Months Ended | June 28, | June 29, | June 28, | June 29, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Basic earnings per common share: | ||||||||||||||||||||
Earnings | $ | 78 | $ | 223 | $ | 824 | $ | 258 | ||||||||||||
Weighted average common shares outstanding | 253.7 | 269.5 | 253.7 | 269.5 | ||||||||||||||||
Per share amount | $ | 0.31 | $ | 0.83 | $ | 3.25 | $ | 0.96 | ||||||||||||
Diluted earnings per common share: | ||||||||||||||||||||
Earnings | $ | 78 | $ | 223 | $ | 824 | $ | 258 | ||||||||||||
Weighted average common shares outstanding | 253.7 | 269.5 | 253.7 | 269.5 | ||||||||||||||||
Add effect of dilutive securities: | ||||||||||||||||||||
Share-based awards | 2.5 | 5.2 | 2.5 | 5.2 | ||||||||||||||||
Diluted weighted average common shares outstanding | 256.2 | 274.7 | 256.2 | 274.7 | ||||||||||||||||
Per share amount | $ | 0.3 | $ | 0.81 | $ | 3.22 | $ | 0.94 | ||||||||||||
Amounts attributable to Motorola Solutions, Inc. common stockholders | ||||||||||||||||||||
Earnings from Continuing Operations | Net Earnings | |||||||||||||||||||
Six Months Ended | June 28, | June 29, | June 28, | June 29, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Basic earnings per common share: | ||||||||||||||||||||
Earnings | $ | 163 | $ | 380 | $ | 951 | $ | 450 | ||||||||||||
Weighted average common shares outstanding | 253.8 | 271.9 | 253.8 | 271.9 | ||||||||||||||||
Per share amount | $ | 0.64 | $ | 1.4 | $ | 3.75 | $ | 1.66 | ||||||||||||
Diluted earnings per common share: | ||||||||||||||||||||
Earnings | $ | 163 | $ | 380 | $ | 951 | $ | 450 | ||||||||||||
Weighted average common shares outstanding | 253.8 | 271.9 | 253.8 | 271.9 | ||||||||||||||||
Add effect of dilutive securities: | ||||||||||||||||||||
Share-based awards | 3.4 | 5.8 | 3.4 | 5.8 | ||||||||||||||||
Diluted weighted average common shares outstanding | 257.2 | 277.7 | 257.2 | 277.7 | ||||||||||||||||
Per share amount | $ | 0.63 | $ | 1.37 | $ | 3.7 | $ | 1.62 | ||||||||||||
Investments | ' | |||||||||||||||||||
Investments consist of the following: | ||||||||||||||||||||
28-Jun-14 | 31-Dec-13 | |||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
Government, agency, and government-sponsored enterprise obligations | $ | 15 | $ | 15 | ||||||||||||||||
Corporate bonds | 8 | 7 | ||||||||||||||||||
Mutual funds | 11 | 11 | ||||||||||||||||||
Common stock and equivalents | — | 2 | ||||||||||||||||||
34 | 35 | |||||||||||||||||||
Other investments, at cost | 185 | 182 | ||||||||||||||||||
Equity method investments | 17 | 15 | ||||||||||||||||||
$ | 236 | $ | 232 | |||||||||||||||||
Accounts Receivable, Net | ' | |||||||||||||||||||
Accounts receivable, net, consists of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Accounts receivable | $ | 1,240 | $ | 1,422 | ||||||||||||||||
Less allowance for doubtful accounts | (55 | ) | (53 | ) | ||||||||||||||||
$ | 1,185 | $ | 1,369 | |||||||||||||||||
Inventories, Net | ' | |||||||||||||||||||
Inventories, net, consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Finished goods | $ | 142 | $ | 157 | ||||||||||||||||
Work-in-process and production materials | 313 | 315 | ||||||||||||||||||
455 | 472 | |||||||||||||||||||
Less inventory reserves | (125 | ) | (125 | ) | ||||||||||||||||
$ | 330 | $ | 347 | |||||||||||||||||
Other Current Assets | ' | |||||||||||||||||||
Other current assets consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Costs and earnings in excess of billings | $ | 374 | $ | 390 | ||||||||||||||||
Contract-related deferred costs | 14 | 15 | ||||||||||||||||||
Tax-related deposits and refunds receivable | 64 | 107 | ||||||||||||||||||
Other | 75 | 123 | ||||||||||||||||||
$ | 527 | $ | 635 | |||||||||||||||||
Property, Plant And Equipment, Net | ' | |||||||||||||||||||
Property, plant and equipment, net, consists of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Land | $ | 21 | $ | 22 | ||||||||||||||||
Building | 554 | 582 | ||||||||||||||||||
Machinery and equipment | 1,840 | 1,760 | ||||||||||||||||||
2,415 | 2,364 | |||||||||||||||||||
Less accumulated depreciation | (1,733 | ) | (1,669 | ) | ||||||||||||||||
$ | 682 | $ | 695 | |||||||||||||||||
Other Assets | ' | |||||||||||||||||||
Other assets consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Intangible assets, net | $ | 24 | $ | 6 | ||||||||||||||||
Long-term receivables | 18 | 1 | ||||||||||||||||||
Other | 86 | 82 | ||||||||||||||||||
$ | 128 | $ | 89 | |||||||||||||||||
Accrued Liabilities | ' | |||||||||||||||||||
Accrued liabilities consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Deferred revenue | $ | 333 | $ | 359 | ||||||||||||||||
Compensation | 212 | 315 | ||||||||||||||||||
Billings in excess of costs and earnings | 354 | 295 | ||||||||||||||||||
Tax liabilities | 76 | 85 | ||||||||||||||||||
Customer reserves | 44 | 52 | ||||||||||||||||||
Dividend payable | 78 | 79 | ||||||||||||||||||
Other | 518 | 578 | ||||||||||||||||||
$ | 1,615 | $ | 1,763 | |||||||||||||||||
Other Liabilities | ' | |||||||||||||||||||
Other liabilities consist of the following: | ||||||||||||||||||||
June 28, | December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Defined benefit plans, including split dollar life insurance arrangements | $ | 1,654 | $ | 1,751 | ||||||||||||||||
Postretirement health care benefit plan | 118 | 118 | ||||||||||||||||||
Deferred revenue | 150 | 162 | ||||||||||||||||||
Unrecognized tax benefits | 57 | 99 | ||||||||||||||||||
Other | 172 | 184 | ||||||||||||||||||
$ | 2,151 | $ | 2,314 | |||||||||||||||||
Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss | ' | |||||||||||||||||||
The following table displays the changes in Accumulated other comprehensive loss, net of tax, by component from January 1, 2014 to June 28, 2014: | ||||||||||||||||||||
Gains and Losses on Cash Flow Hedges | Unrealized Gains and Losses on Available-for-Sale Securities | Retirement Benefit Items | Foreign Currency Translation Adjustments | Total | ||||||||||||||||
Balance as of January 1, 2014 | $ | (1 | ) | $ | (2 | ) | $ | (2,188 | ) | $ | (96 | ) | $ | (2,287 | ) | |||||
Other comprehensive income before reclassifications | — | 2 | — | 15 | 17 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | 1 | — | 24 | — | 25 | |||||||||||||||
Current period change in Other comprehensive income | 1 | 2 | 24 | 15 | 42 | |||||||||||||||
Balance as of June 28, 2014 | $ | — | $ | — | $ | (2,164 | ) | $ | (81 | ) | $ | (2,245 | ) | |||||||
Accumulated Other Comprehensive Loss - Amounts Reclassified from Accumulated Other Comprehensive Loss | ' | |||||||||||||||||||
The following table displays the amounts reclassified from Accumulated other comprehensive loss and the affected line items in the condensed consolidated statement of operations during the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||
June 28, 2014 | June 29, | June 28, | June 29, | |||||||||||||||||
2013 | 2014 | 2013 | ||||||||||||||||||
Loss (gain) on cash flow hedges: | ||||||||||||||||||||
Foreign exchange contracts | $ | 1 | $ | — | $ | 1 | $ | (1 | ) | Cost of sales | ||||||||||
1 | — | 1 | (1 | ) | Net of tax | |||||||||||||||
Amortization of retirement benefit items: | ||||||||||||||||||||
Prior service costs | $ | (9 | ) | (14 | ) | $ | (18 | ) | $ | (25 | ) | Selling, general, and administrative expenses | ||||||||
Actuarial net losses | 25 | 40 | 53 | 79 | Selling, general, and administrative expenses | |||||||||||||||
16 | 26 | 35 | 54 | Total before tax | ||||||||||||||||
(5 | ) | (10 | ) | (11 | ) | (19 | ) | Tax benefit | ||||||||||||
$ | 11 | $ | 16 | $ | 24 | $ | 35 | Net of tax | ||||||||||||
Total reclassifications for the period, net of tax | $ | 12 | $ | 16 | $ | 25 | $ | 34 | ||||||||||||
Risk_Management_Tables
Risk Management (Tables) | 6 Months Ended | |||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||
Risk Management [Abstract] | ' | |||||||||||||||||
Schedule Of Largest Notional Amounts Of The Positions To Buy Or Sell Foreign Currency | ' | |||||||||||||||||
The following table shows the five largest net notional amounts of the positions to buy or sell foreign currency as of June 28, 2014, and the corresponding positions as of December 31, 2013: | ||||||||||||||||||
Notional Amount | ||||||||||||||||||
Net Buy (Sell) by Currency | June 28, | December 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||||
British Pound | $ | 243 | $ | 257 | ||||||||||||||
Chinese Renminbi | (184 | ) | (181 | ) | ||||||||||||||
Euro | 146 | (132 | ) | |||||||||||||||
Norwegian Krone | (120 | ) | (95 | ) | ||||||||||||||
Brazilian Real | (54 | ) | (44 | ) | ||||||||||||||
Summary Of Fair Values And Location In Condensed Consolidated Balance Sheet | ' | |||||||||||||||||
The following tables summarize the fair values and location in the condensed consolidated balance sheets of all derivative financial instruments held by the Company at June 28, 2014 and December 31, 2013: | ||||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Assets | Liabilities | |||||||||||||||||
June 28, 2014 | Fair | Balance | Fair | Balance | ||||||||||||||
Value | Sheet | Value | Sheet | |||||||||||||||
Location | Location | |||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Foreign exchange contracts | $ | 1 | Other assets | $ | 3 | Other liabilities | ||||||||||||
Interest agreements | — | Other assets | 3 | Other liabilities | ||||||||||||||
Total derivatives | $ | 1 | $ | 6 | ||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Assets | Liabilities | |||||||||||||||||
December 31, 2013 | Fair | Balance | Fair | Balance | ||||||||||||||
Value | Sheet | Value | Sheet | |||||||||||||||
Location | Location | |||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||
Foreign exchange contracts | $ | — | Other assets | $ | 1 | Other liabilities | ||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Foreign exchange contracts | 4 | Other assets | 1 | Other liabilities | ||||||||||||||
Interest agreements | — | Other assets | 3 | Other liabilities | ||||||||||||||
Total derivatives not designated as hedging instruments | 4 | 4 | ||||||||||||||||
Total derivatives | $ | 4 | $ | 5 | ||||||||||||||
Summary Of Derivative Instruments And The Effect On The Condensed Consolidated Statements Of Operations | ' | |||||||||||||||||
The following table summarizes the effect of derivative instruments in the Company's condensed consolidated statements of operations for the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||||
Three Months Ended | Six Months Ended | Statements of | ||||||||||||||||
Gain (loss) on Derivative Instruments | June 28, | June 29, | June 28, | June 29, | Operations Location | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Interest rate contracts | $ | — | $ | 1 | $ | — | $ | 1 | Other income (expense) | |||||||||
Foreign exchange contracts | (1 | ) | 8 | (2 | ) | (9 | ) | Other income (expense) | ||||||||||
Total derivatives not designated as hedging instruments | $ | (1 | ) | $ | 9 | $ | (2 | ) | $ | (8 | ) | |||||||
The following table summarizes the gains and losses reclassified from Accumulated other comprehensive loss into Net earnings during the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||||
Three Months Ended | Six Months Ended | Financial Statement | ||||||||||||||||
Foreign Exchange Contracts | June 28, | June 29, | 28-Jun-14 | 29-Jun-13 | Location | |||||||||||||
2014 | 2013 | |||||||||||||||||
Derivatives in cash flow hedging relationships: | ||||||||||||||||||
Gains (losses) reclassified from Accumulated other comprehensive loss into Net earnings | $ | (1 | ) | $ | — | $ | (1 | ) | $ | 1 | Costs of sales | |||||||
Retirement_and_Other_Employee_1
Retirement and Other Employee Benefits (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||||||
Retirement Benefits [Abstract] | ' | |||||||||||||||||||||||
Schedule of Net Benefit Plan Costs | ' | |||||||||||||||||||||||
The net periodic costs (benefits) for Pension and Postretirement Health Care Benefits plans were as follows: | ||||||||||||||||||||||||
U.S. Pension Benefit Plans | Non U.S. Pension Benefit Plans | Postretirement Health Care Benefits Plan | ||||||||||||||||||||||
Three Months Ended | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | ||||||||||||||||||
Service cost | $ | — | $ | — | $ | 4 | $ | 3 | $ | 1 | $ | — | ||||||||||||
Interest cost | 93 | 88 | 20 | 16 | 3 | 3 | ||||||||||||||||||
Expected return on plan assets | (98 | ) | (90 | ) | (23 | ) | (18 | ) | (2 | ) | (3 | ) | ||||||||||||
Amortization of: | ||||||||||||||||||||||||
Unrecognized net loss | 21 | 33 | 3 | 3 | 3 | 3 | ||||||||||||||||||
Unrecognized prior service cost (benefit) | — | — | 2 | (2 | ) | (11 | ) | (11 | ) | |||||||||||||||
Net periodic pension cost (benefit) | $ | 16 | $ | 31 | $ | 6 | $ | 2 | $ | (6 | ) | $ | (8 | ) | ||||||||||
U.S. Pension Benefit Plans | Non U.S. Pension Benefit Plans | Postretirement Health Care Benefits Plan | ||||||||||||||||||||||
Six Months Ended | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | June 28, 2014 | June 29, 2013 | ||||||||||||||||||
Service cost | $ | — | $ | — | $ | 7 | $ | 6 | $ | 1 | $ | 1 | ||||||||||||
Interest cost | 185 | 176 | 40 | 33 | 6 | 6 | ||||||||||||||||||
Expected return on plan assets | (196 | ) | (182 | ) | (45 | ) | (37 | ) | (5 | ) | (5 | ) | ||||||||||||
Amortization of: | ||||||||||||||||||||||||
Unrecognized net loss | 44 | 66 | 6 | 6 | 6 | 7 | ||||||||||||||||||
Unrecognized prior service cost (benefit) | — | — | 3 | (4 | ) | (21 | ) | (22 | ) | |||||||||||||||
Net periodic pension cost (benefit) | $ | 33 | $ | 60 | $ | 11 | $ | 4 | $ | (13 | ) | $ | (13 | ) | ||||||||||
ShareBased_Compensation_Plans_
Share-Based Compensation Plans (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Schedule Of Compensation Expense | ' | |||||||||||||||
Compensation expense for the Company’s employee stock options, stock appreciation rights, employee stock purchase plan, restricted stock and restricted stock units (“RSUs”) was as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Share-based compensation expense included in: | ||||||||||||||||
Costs of sales | $ | 3 | $ | 4 | $ | 7 | $ | 8 | ||||||||
Selling, general and administrative expenses | 16 | 16 | 33 | 38 | ||||||||||||
Research and development expenditures | 7 | 7 | 14 | 16 | ||||||||||||
Share-based compensation expense included in Operating earnings | 26 | 27 | 54 | 62 | ||||||||||||
Tax benefit | 8 | 8 | 17 | 19 | ||||||||||||
Share-based compensation expense, net of tax | $ | 18 | $ | 19 | $ | 37 | $ | 43 | ||||||||
Decrease in basic earnings per share | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.15 | ) | $ | (0.16 | ) | ||||
Decrease in diluted earnings per share | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.14 | ) | $ | (0.15 | ) | ||||
Share-based compensation expense in discontinued operations | $ | 5 | $ | 7 | $ | 13 | $ | 17 | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||
Jun. 28, 2014 | ||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||
Fair Value Of Company's Financial Assets And Liabilities | ' | |||||||||||
The fair values of the Company’s financial assets and liabilities by level in the fair value hierarchy as of June 28, 2014 and December 31, 2013 were as follows: | ||||||||||||
June 28, 2014 | Level 2 | |||||||||||
Assets: | ||||||||||||
Foreign exchange derivative contracts | $ | 1 | ||||||||||
Available-for-sale securities: | ||||||||||||
Government, agency, and government-sponsored enterprise obligations | 15 | |||||||||||
Corporate bonds | 8 | |||||||||||
Mutual funds | 11 | |||||||||||
Liabilities: | ||||||||||||
Foreign exchange derivative contracts | $ | 3 | ||||||||||
Interest agreement derivative contracts | 3 | |||||||||||
December 31, 2013 | Level 1 | Level 2 | Total | |||||||||
Assets: | ||||||||||||
Foreign exchange derivative contracts | $ | — | $ | 4 | $ | 4 | ||||||
Available-for-sale securities: | ||||||||||||
Government, agency, and government-sponsored enterprise obligations | — | 15 | 15 | |||||||||
Corporate bonds | — | 7 | 7 | |||||||||
Mutual funds | — | 11 | 11 | |||||||||
Common stock and equivalents | 2 | — | 2 | |||||||||
Liabilities: | ||||||||||||
Foreign exchange derivative contracts | $ | — | $ | 2 | $ | 2 | ||||||
Interest agreement derivative contracts | — | 3 | 3 | |||||||||
Longterm_Customer_Financing_An1
Long-term Customer Financing And Sales Of Receivables (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Long-Term Customer Financing And Sales Of Receivables [Abstract] | ' | |||||||||||||||
Long-Term Customer Financing | ' | |||||||||||||||
Long-term customer financing receivables consist of trade receivables with payment terms greater than twelve months, long-term loans and lease receivables under sales-type leases. Long-term customer financing receivables consist of the following: | ||||||||||||||||
June 28, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Long-term receivables | $ | 37 | $ | 27 | ||||||||||||
Less current portion | (19 | ) | (26 | ) | ||||||||||||
Non-current long-term receivables, net | $ | 18 | $ | 1 | ||||||||||||
Proceeds Received From Non-Recourse Sales Of Accounts Receivable And Long-Term Receivables | ' | |||||||||||||||
The following table summarizes the proceeds received from sales of accounts receivable and long-term receivables for the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Cumulative annual proceeds received from sales: | ||||||||||||||||
Accounts receivable sales proceeds | $ | 26 | $ | 2 | $ | 33 | $ | 3 | ||||||||
Long-term receivables sales proceeds | 52 | 25 | 52 | 52 | ||||||||||||
Total proceeds from receivable sales | $ | 78 | $ | 27 | $ | 85 | $ | 55 | ||||||||
Financing Receivables Aging Analysis | ' | |||||||||||||||
An aging analysis of financing receivables at June 28, 2014 and December 31, 2013 is as follows: | ||||||||||||||||
June 28, 2014 | Total | Current Billed | Past Due Under 90 Days | Past Due Over 90 Days | ||||||||||||
Long-term | Due | |||||||||||||||
Receivable | ||||||||||||||||
Municipal leases secured tax exempt | $ | 1 | $ | — | $ | — | $ | — | ||||||||
Commercial loans and leases secured | 36 | 1 | 2 | 12 | ||||||||||||
Total gross long-term receivables, including current portion | $ | 37 | $ | 1 | $ | 2 | $ | 12 | ||||||||
December 31, 2013 | Total | Current Billed | Past Due Under 90 Days | Past Due Over 90 Days | ||||||||||||
Long-term | Due | |||||||||||||||
Receivable | ||||||||||||||||
Municipal leases secured tax exempt | $ | 1 | $ | — | $ | — | $ | — | ||||||||
Commercial loans and leases secured | 26 | 10 | 2 | 10 | ||||||||||||
Total gross long-term receivables, including current portion | $ | 27 | $ | 10 | $ | 2 | $ | 10 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Information By Segment and Geographic Region [Abstract] | ' | |||||||||||||||
Net sales and Operating earnings by Segment | ' | |||||||||||||||
The following table summarizes the Net sales by segment: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Products | $ | 887 | $ | 986 | $ | 1,640 | $ | 1,899 | ||||||||
Services | 506 | 511 | 982 | 994 | ||||||||||||
$ | 1,393 | $ | 1,497 | $ | 2,622 | $ | 2,893 | |||||||||
The following table summarizes the Operating earnings by segment: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Products | $ | 95 | $ | 125 | $ | 134 | $ | 231 | ||||||||
Services | 43 | 78 | 111 | 145 | ||||||||||||
Operating earnings | 138 | 203 | 245 | 376 | ||||||||||||
Total other expense | (40 | ) | (35 | ) | (59 | ) | (53 | ) | ||||||||
Earnings from continuing operations before income taxes | $ | 98 | $ | 168 | $ | 186 | $ | 323 | ||||||||
Reorganization_Of_Businesses_T
Reorganization Of Businesses (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||
Reorganization Of Businesses [Abstract] | ' | |||||||||||||||||||
Net Charges Incurred By Business Segment | ' | |||||||||||||||||||
The following table displays the net charges incurred by segment: | ||||||||||||||||||||
June 28, 2014 | Three Months Ended | Six Months Ended | ||||||||||||||||||
Products | $ | 18 | $ | 24 | ||||||||||||||||
Services | 10 | 14 | ||||||||||||||||||
$ | 28 | $ | 38 | |||||||||||||||||
The following table displays the net charges incurred by segment: | ||||||||||||||||||||
June 29, 2013 | Three Months Ended | Six Months Ended | ||||||||||||||||||
Products | $ | 12 | $ | 17 | ||||||||||||||||
Services | 6 | 8 | ||||||||||||||||||
$ | 18 | $ | 25 | |||||||||||||||||
Reorganization Of Businesses Accruals | ' | |||||||||||||||||||
The following table displays a rollforward of the reorganization of businesses accruals established for lease exit costs and employee separation costs, including those related to discontinued operations which will be maintained by the Company after the sale of the Enterprise business, from January 1, 2014 to June 28, 2014: | ||||||||||||||||||||
January 1, 2014 | Additional | Adjustments | Amount | June 28, 2014 | ||||||||||||||||
Charges | Used | |||||||||||||||||||
Exit costs | $ | 6 | $ | 6 | $ | — | $ | (5 | ) | $ | 7 | |||||||||
Employee separation costs | 103 | 47 | (2 | ) | (70 | ) | 78 | |||||||||||||
$ | 109 | $ | 53 | $ | (2 | ) | $ | (75 | ) | $ | 85 | |||||||||
Intangible_Assets_And_Goodwill1
Intangible Assets And Goodwill (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Intangible Assets | ' | |||||||||||||||
Amortized intangible assets were comprised of the following: | ||||||||||||||||
June 28, 2014 | December 31, 2013 | |||||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||
Amount | Amount | |||||||||||||||
Completed technology | $ | 35 | $ | 25 | $ | 24 | $ | 24 | ||||||||
Patents | 8 | 4 | 8 | 3 | ||||||||||||
Customer-related | 13 | 6 | 6 | 6 | ||||||||||||
Other intangibles | 17 | 14 | 15 | 14 | ||||||||||||
$ | 73 | $ | 49 | $ | 53 | $ | 47 | |||||||||
Amortized Intangible Assets, Excluding Goodwill, By Business Segment | ' | |||||||||||||||
Amortized intangible assets, excluding goodwill, were comprised of the following by segment: | ||||||||||||||||
June 28, 2014 | December 31, 2013 | |||||||||||||||
Gross | Accumulated | Gross | Accumulated | |||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||
Amount | Amount | |||||||||||||||
Products | $ | 70 | $ | 49 | $ | 53 | $ | 47 | ||||||||
Services | 3 | — | — | — | ||||||||||||
$ | 73 | $ | 49 | $ | 53 | $ | 47 | |||||||||
Goodwill | ' | |||||||||||||||
The following table displays a rollforward of the carrying amount of goodwill by segment from January 1, 2014 to June 28, 2014: | ||||||||||||||||
Products | Services | Total | ||||||||||||||
Balance as of January 1, 2014 | ||||||||||||||||
Aggregate goodwill | $ | 249 | $ | 112 | $ | 361 | ||||||||||
Accumulated impairment losses | — | — | — | |||||||||||||
Goodwill, net of impairment losses | $ | 249 | $ | 112 | $ | 361 | ||||||||||
Goodwill acquired | 15 | 7 | 22 | |||||||||||||
Balance as of June 28, 2014 | ||||||||||||||||
Aggregate goodwill | $ | 264 | $ | 119 | $ | 383 | ||||||||||
Accumulated impairment losses | — | — | — | |||||||||||||
Goodwill, net of impairment losses | $ | 264 | $ | 119 | $ | 383 | ||||||||||
Discontinued_Operations_Summar
Discontinued Operations (Summarized Activity Of Discontinued Operations) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | |||
Apr. 14, 2014 | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 31, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' |
Increase in deferred tax assets | ' | $721,000,000 | ' | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | ' | ' | ' | ' | ' | ' |
Earnings from discontinued operations, net of tax | ' | 746,000,000 | 35,000,000 | 788,000,000 | 70,000,000 | ' |
Zebra Technologies Corporation | Enterprise | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' |
Disposal price agreed upon to sell Enterprise business | 3,450,000,000 | ' | ' | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | ' | ' | ' | ' | ' | ' |
Net sales | ' | 560,000,000 | 610,000,000 | 1,133,000,000 | 1,187,000,000 | ' |
Operating earnings | ' | 55,000,000 | 63,000,000 | 118,000,000 | 106,000,000 | ' |
Loss on sales of investments and businesses, net | ' | -1,000,000 | 0 | -1,000,000 | 0 | ' |
Investment impairments | ' | -3,000,000 | -2,000,000 | -3,000,000 | -2,000,000 | ' |
Earnings before income taxes | ' | 50,000,000 | 57,000,000 | 112,000,000 | 106,000,000 | ' |
Income tax expense (benefit) | ' | -696,000,000 | 22,000,000 | -676,000,000 | 36,000,000 | ' |
Earnings from discontinued operations, net of tax | ' | 746,000,000 | 35,000,000 | 788,000,000 | 70,000,000 | ' |
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract] | ' | ' | ' | ' | ' | ' |
Accounts receivable, net | ' | 468,000,000 | ' | 468,000,000 | ' | 551,000,000 |
Inventories, net | ' | 215,000,000 | ' | 215,000,000 | ' | 175,000,000 |
Deferred income taxes | ' | 225,000,000 | ' | 225,000,000 | ' | 219,000,000 |
Other current assets | ' | 132,000,000 | ' | 132,000,000 | ' | 134,000,000 |
Property, plant and equipment, net | ' | 94,000,000 | ' | 94,000,000 | ' | 115,000,000 |
Investments | ' | 20,000,000 | ' | 20,000,000 | ' | 19,000,000 |
Goodwill | ' | 1,151,000,000 | ' | 1,151,000,000 | ' | 1,149,000,000 |
Other assets | ' | 102,000,000 | ' | 102,000,000 | ' | 95,000,000 |
Assets | ' | 2,407,000,000 | ' | 2,407,000,000 | ' | 2,457,000,000 |
Accounts payable | ' | 196,000,000 | ' | 196,000,000 | ' | 231,000,000 |
Accrued liabilities | ' | 656,000,000 | ' | 656,000,000 | ' | 639,000,000 |
Other liabilities | ' | 178,000,000 | ' | 178,000,000 | ' | 171,000,000 |
Liabilities | ' | $1,030,000,000 | ' | $1,030,000,000 | ' | $1,041,000,000 |
Other_Financial_Data_Other_Cha
Other Financial Data (Other Charges) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 28, 2014 | Mar. 29, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Other charges: | ' | ' | ' | ' | ' |
Intangibles amortization | $1 | ' | $0 | $2 | $0 |
Reorganization of businesses | 25 | ' | 13 | 34 | 20 |
Legal settlement | 8 | ' | 0 | 8 | 0 |
Gain on sale of building and land | 0 | -21 | 0 | -21 | 0 |
Other charges (income): | $34 | ' | $13 | $23 | $20 |
Other_Financial_Data_Other_Inc
Other Financial Data (Other Income (Expense)) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Interest income (expense), net: | ' | ' | ' | ' |
Interest expense | ($34) | ($38) | ($64) | ($68) |
Interest income | 5 | 6 | 10 | 11 |
Interest income (expense), net: | -29 | -32 | -54 | -57 |
Other: | ' | ' | ' | ' |
Investment impairments | 0 | -2 | 0 | -2 |
Foreign currency loss | -8 | -4 | -10 | -7 |
Gains on equity method investments | 2 | 1 | 2 | 0 |
Other | -1 | 2 | -1 | 6 |
Total Other Income (Expense) | ($7) | ($3) | ($9) | ($3) |
Other_Financial_Data_Earnings_
Other Financial Data (Earnings (Loss) Per Common Share) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Basic earnings (loss) per common share: | ' | ' | ' | ' |
Earnings from continuing operations | $78 | $223 | $163 | $380 |
Net earnings | 824 | 258 | 951 | 450 |
Weighted average common shares outstanding, basic (shares) | 253.7 | 269.5 | 253.8 | 271.9 |
Continuing operations (US$ per share) | $0.31 | $0.83 | $0.64 | $1.40 |
Basic earnings per share amount (US$ per share) | $3.25 | $0.96 | $3.75 | $1.66 |
Diluted earnings (loss) per common share: | ' | ' | ' | ' |
Earnings from continuing operations, net of tax | 78 | 223 | 163 | 380 |
Net earnings | $824 | $258 | $951 | $450 |
Weighted average common shares outstanding, basic (shares) | 253.7 | 269.5 | 253.8 | 271.9 |
Add effect of dilutive securities: | ' | ' | ' | ' |
Share-based awards (in shares) | 2.5 | 5.2 | 3.4 | 5.8 |
Diluted weighted average common shares outstanding (shares) | 256.2 | 274.7 | 257.2 | 277.7 |
Diluted weighted average common shares outstanding (US$ per share) | $0.30 | $0.81 | $0.63 | $1.37 |
Diluted earnings per share amount (US$ per share) | $3.22 | $0.94 | $3.70 | $1.62 |
Other_Financial_Data_Investmen
Other Financial Data (Investments) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Investments | ' | ' |
Short-term Investments | $236 | $232 |
Available-for-sale securities: | ' | ' |
Investments | ' | ' |
Short-term Investments | 34 | 35 |
Government, agency, and government-sponsored enterprise obligations | ' | ' |
Investments | ' | ' |
Short-term Investments | 15 | 15 |
Corporate bonds | ' | ' |
Investments | ' | ' |
Short-term Investments | 8 | 7 |
Mutual funds | ' | ' |
Investments | ' | ' |
Short-term Investments | 11 | 11 |
Common stock and equivalents | ' | ' |
Investments | ' | ' |
Short-term Investments | 0 | 2 |
Other investments, at cost | ' | ' |
Investments | ' | ' |
Short-term Investments | 185 | 182 |
Equity method investments | ' | ' |
Investments | ' | ' |
Short-term Investments | $17 | $15 |
Other_Financial_Data_Accounts_
Other Financial Data (Accounts Receivable, Net) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Other Financial Data [Abstract] | ' | ' |
Accounts receivable | $1,240 | $1,422 |
Less allowance for doubtful accounts | -55 | -53 |
Accounts receivable, net | $1,185 | $1,369 |
Other_Financial_Data_Inventori
Other Financial Data (Inventories, Net) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Finished goods | $142 | $157 |
Work-in-process and production materials | 313 | 315 |
Inventories, gross | 455 | 472 |
Less inventory reserves | -125 | -125 |
Inventories, net | $330 | $347 |
Other_Financial_Data_Other_Cur
Other Financial Data (Other Current Assets) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Other Current Assets [Abstract] | ' | ' |
Costs and earnings in excess of billings | $374 | $390 |
Contract-related deferred costs | 14 | 15 |
Tax-related deposits and refunds receivable | 64 | 107 |
Other | 75 | 123 |
Other current assets | $527 | $635 |
Other_Financial_Data_Property_
Other Financial Data (Property, Plant And Equipment, Net) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment, Net [Abstract] | ' | ' |
Land | $21 | $22 |
Building | 554 | 582 |
Machinery and equipment | 1,840 | 1,760 |
Property, plant and equipment, gross | 2,415 | 2,364 |
Less accumulated depreciation | -1,733 | -1,669 |
Property, plant and equipment, net | $682 | $695 |
Other_Financial_Data_Other_Ass
Other Financial Data (Other Assets) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Other Assets [Abstract] | ' | ' |
Intangible assets, net | $24 | $6 |
Long-term receivables | 18 | 1 |
Other | 86 | 82 |
Other assets, total | $128 | $89 |
Other_Financial_Data_Accrued_L
Other Financial Data (Accrued Liabilities) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accrued Liabilities [Abstract] | ' | ' |
Deferred revenue | $333 | $359 |
Compensation | 212 | 315 |
Billings in excess of costs and earnings | 354 | 295 |
Tax liabilities | 76 | 85 |
Customer reserves | 44 | 52 |
Dividend payable | 78 | 79 |
Other | 518 | 578 |
Accrued liabilities | $1,615 | $1,763 |
Other_Financial_Data_Other_Lia
Other Financial Data (Other Liabilities) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Other Liabilities [Abstract] | ' | ' |
Defined benefit plans, including split dollar life insurance arrangements | $1,654 | $1,751 |
Postretirement health care benefit plan | 118 | 118 |
Deferred revenue | 150 | 162 |
Unrecognized tax benefits | 57 | 99 |
Other | 172 | 184 |
Other liabilities | $2,151 | $2,314 |
Other_Financial_Data_Changes_i
Other Financial Data (Changes in Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Balance as of January 1, 2014 | ' | ' | ($2,287) | ' |
Other comprehensive income before reclassifications | ' | ' | 17 | ' |
Amounts reclassified from accumulated other comprehensive loss | ' | ' | 25 | ' |
Total other comprehensive income | 25 | 10 | 42 | -9 |
Balance as of June 28, 2014 | -2,245 | ' | -2,245 | ' |
Gains and Losses on Cash Flow Hedges | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Balance as of January 1, 2014 | ' | ' | -1 | ' |
Other comprehensive income before reclassifications | ' | ' | 0 | ' |
Amounts reclassified from accumulated other comprehensive loss | ' | ' | 1 | ' |
Total other comprehensive income | ' | ' | 1 | ' |
Balance as of June 28, 2014 | 0 | ' | 0 | ' |
Unrealized Gains and Losses on Available-for-Sale Securities | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Balance as of January 1, 2014 | ' | ' | -2 | ' |
Other comprehensive income before reclassifications | ' | ' | 2 | ' |
Amounts reclassified from accumulated other comprehensive loss | ' | ' | 0 | ' |
Total other comprehensive income | ' | ' | 2 | ' |
Balance as of June 28, 2014 | 0 | ' | 0 | ' |
Retirement Benefit Items | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Balance as of January 1, 2014 | ' | ' | -2,188 | ' |
Other comprehensive income before reclassifications | ' | ' | 0 | ' |
Amounts reclassified from accumulated other comprehensive loss | ' | ' | 24 | ' |
Total other comprehensive income | ' | ' | 24 | ' |
Balance as of June 28, 2014 | -2,164 | ' | -2,164 | ' |
Foreign Currency Translation Adjustments | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Balance as of January 1, 2014 | ' | ' | -96 | ' |
Other comprehensive income before reclassifications | ' | ' | 15 | ' |
Amounts reclassified from accumulated other comprehensive loss | ' | ' | 0 | ' |
Total other comprehensive income | ' | ' | 15 | ' |
Balance as of June 28, 2014 | ($81) | ' | ($81) | ' |
Other_Financial_Data_Amounts_R
Other Financial Data (Amounts Reclassified from Accumulated Other Comprehensive Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Cost of sales - Foreign exchange contracts | ($400) | ($435) | ($751) | ($840) |
Earnings before income taxes | 98 | 168 | 186 | 323 |
Tax expense (benefits) | -20 | 59 | -23 | 61 |
Net earnings | 824 | 262 | 951 | 454 |
Gain (Loss) on Sales of Investments and Businesses, Net | 4 | 0 | -4 | -7 |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Net earnings | 12 | 16 | 25 | 34 |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Cost of sales - Foreign exchange contracts | 1 | 0 | 1 | -1 |
Earnings before income taxes | 1 | 0 | 1 | -1 |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Amortization of Retirement Benefit Items [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Selling, general, and administrative expenses - Prior service costs | -9 | -14 | -18 | -25 |
Selling, general, and administrative expenses - Actuarial net losses | 25 | 40 | 53 | 79 |
Earnings before income taxes | 16 | 26 | 35 | 54 |
Tax expense (benefits) | -5 | -10 | -11 | -19 |
Net earnings | $11 | $16 | $24 | $35 |
Other_Financial_Data_Narrative
Other Financial Data (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | |||||||
Share data in Millions, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Mar. 29, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Jul. 30, 2014 |
Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Subsequent Event [Member] | ||||||||
Other Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Building and Land Sold During Period, Net Book Value | ' | $3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sales of property, plant and equipment | ' | 24,000,000 | ' | 24,000,000 | 15,000,000 | ' | ' | ' | ' | ' | ' | ' |
Stock options excluded from computation of dilutive shares due to antidilutive nature | ' | ' | ' | ' | ' | ' | ' | 4.6 | 4.3 | 4.8 | 4.4 | ' |
Cash and cash equivalents | 2,876,000,000 | ' | 1,457,000,000 | 2,876,000,000 | 1,457,000,000 | 3,225,000,000 | 1,468,000,000 | ' | ' | ' | ' | ' |
Restricted cash and cash equivalents | 64,000,000 | ' | ' | 64,000,000 | ' | 63,000,000 | ' | ' | ' | ' | ' | ' |
Depreciation expense | 45,000,000 | ' | 40,000,000 | 84,000,000 | 75,000,000 | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Note [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common shares, value | 416,000,000 | ' | ' | 473,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common shares | 6.2 | ' | ' | 7.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common shares, average cost per share | $66.96 | ' | ' | $66.88 | ' | ' | ' | ' | ' | ' | ' | ' |
Share repurchase authority utilized during period | ' | ' | ' | 5,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Share repurchase program, available for repurchases | ' | ' | ' | 1,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Repurchase of Common Stock | ' | ' | ' | 473,000,000 | 907,000,000 | ' | ' | ' | ' | ' | ' | ' |
Cash dividends paid | $79,000,000 | ' | $71,000,000 | $158,000,000 | $143,000,000 | ' | ' | ' | ' | ' | ' | ' |
Dividends declared per share (US$ per share) | $0.31 | ' | $0.26 | $0.62 | $0.52 | ' | ' | ' | ' | ' | ' | $0.34 |
Debt_and_Credit_Facilities_Nar
Debt and Credit Facilities (Narrative) (Details) (USD $) | 3 Months Ended | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Mar. 30, 2013 | Jun. 28, 2014 | Jun. 28, 2014 | Jun. 28, 2014 | 28-May-14 | Jun. 28, 2014 |
3.500% Senior Notes Due 2023 [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Letter of Credit [Member] | |
2014 Motorola Solutions Credit Agreement [Member] | 2011 Motorola Solutions Credit Agreement [Member] | 2011 Motorola Solutions Credit Agreement [Member] | 2011 Motorola Solutions Credit Agreement [Member] | 2014 Motorola Solutions Credit Agreement [Member] | ||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' |
Unsecured syndicated revolving credit facility | ' | $2,000 | ' | ' | $1,500 | $450 |
Letters of credit issued revolving credit facility | ' | ' | ' | ' | ' | 0 |
Face principal amount of debt issued | 600 | ' | ' | ' | ' | ' |
Debt instrument stated interest rate (percent) | 3.50% | ' | ' | ' | ' | ' |
Additional borrowings under line of credit agreement | ' | ' | 0 | 0 | ' | ' |
Proceeds from issuance of debt | $588 | ' | ' | ' | ' | ' |
Risk_Management_Schedule_Of_La
Risk Management (Schedule Of Largest Notional Amounts Of The Positions To Buy Or Sell Foreign Currency) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
Foreign Currency Contracts | ' | ' |
Notional amount of foreign currency derivatives | $867,000,000 | $837,000,000 |
British Pound | ' | ' |
Foreign Currency Contracts | ' | ' |
Notional amount of foreign currency derivatives | 243,000,000 | 257,000,000 |
Chinese Renminbi | ' | ' |
Foreign Currency Contracts | ' | ' |
Notional amount of foreign currency derivatives | -184,000,000 | -181,000,000 |
Euro | ' | ' |
Foreign Currency Contracts | ' | ' |
Notional amount of foreign currency derivatives | 146,000,000 | -132,000,000 |
Norwegian Krone | ' | ' |
Foreign Currency Contracts | ' | ' |
Notional amount of foreign currency derivatives | -120,000,000 | -95,000,000 |
Brazilian Real | ' | ' |
Foreign Currency Contracts | ' | ' |
Notional amount of foreign currency derivatives | ($54,000,000) | ($44,000,000) |
Risk_Management_Summary_Of_Fai
Risk Management (Summary Of Fair Values And Location In Condensed Consolidated Balance Sheet) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | ' | $4 |
Fair value of derivative liabilities | ' | 5 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Other Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | ' | 0 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative liabilities | ' | 1 |
Not Designated As Hedging Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | 1 | 4 |
Fair value of derivative liabilities | 6 | 4 |
Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member] | Other Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | 1 | 4 |
Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member] | Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative liabilities | 3 | 1 |
Not Designated As Hedging Instruments [Member] | Interest Agreement Contracts [Member] | Other Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative assets | 0 | 0 |
Not Designated As Hedging Instruments [Member] | Interest Agreement Contracts [Member] | Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of derivative liabilities | $3 | $3 |
Risk_Management_Summary_Of_Der
Risk Management (Summary Of Derivative Instruments And The Effect On The Condensed Consolidated Statements Of Operations) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Gain (Loss) on Derivative Instruments | ' | ' | ' | ' |
Gains (losses) reclassified from Accumulated other comprehensive loss into Net earnings | ($400) | ($435) | ($751) | ($840) |
Foreign Exchange Contracts [Member] | Costs Of Sales [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments | ' | ' | ' | ' |
Gains (losses) reclassified from Accumulated other comprehensive loss into Net earnings | -1 | 0 | -1 | 1 |
Not Designated As Hedging Instruments [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments | ' | ' | ' | ' |
Total derivatives not designated as hedging instruments | -1 | 9 | -2 | -8 |
Not Designated As Hedging Instruments [Member] | Interest Rate Contracts [Member] | Other Income (Expense) [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments | ' | ' | ' | ' |
Total derivatives not designated as hedging instruments | 0 | 1 | 0 | 1 |
Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member] | Other Income (Expense) [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments | ' | ' | ' | ' |
Total derivatives not designated as hedging instruments | ($1) | $8 | ($2) | ($9) |
Risk_Management_Narrative_Deta
Risk Management (Narrative) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
position | position | |
Derivative [Line Items] | ' | ' |
Notional amount of foreign currency derivatives | $867,000,000 | $837,000,000 |
Number of net notional positions to buy or sell foreign currency disclosed (in number of positions) | 5 | 5 |
Fair value of derivative liabilities | ' | 5,000,000 |
Exposure to aggregate net credit risk | -867,000,000 | -837,000,000 |
Not Designated As Hedging Instruments [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Fair value of derivative liabilities | 6,000,000 | 4,000,000 |
Not Designated As Hedging Instruments [Member] | Interest Rate Contracts [Member] | Other Liabilities [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Fair value of derivative liabilities | 3,000,000 | 3,000,000 |
Credit Concentration Risk [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount of foreign currency derivatives | 0 | ' |
Exposure to aggregate net credit risk | $0 | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 28, 2014 | Mar. 30, 2013 | Jun. 28, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Increase in deferred tax assets | $721,000,000 | ' | ' | ' |
Valuation allowance | 212,000,000 | ' | 212,000,000 | 200,000,000 |
Valuation allowance - deferred tax assets relating to non-U.S subsidiaries | 179,000,000 | ' | 179,000,000 | 178,000,000 |
Undistributed earnings that the Company intends to reinvest indefinitely | 1,400,000,000 | ' | 1,400,000,000 | 1,400,000,000 |
Tax benefit related to reversal of deferred tax liabilities | ' | 25,000,000 | ' | ' |
Undistributed Non U S Earnings | 650,000,000 | ' | 650,000,000 | ' |
Unrecognized tax benefits | 120,000,000 | ' | 120,000,000 | 147,000,000 |
Unrecognized tax benefits that would impact effective tax rate if recognized | 99,000,000 | ' | 99,000,000 | 125,000,000 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | ' | ' | 24,000,000 | ' |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | ' | ' | 51,000,000 | ' |
Unrecognized Tax Benefits, Period Increase (Decrease) | ' | ' | -27,000,000 | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Lower Bound | -50,000,000 | ' | -50,000,000 | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Upper Bound | 50,000,000 | ' | 50,000,000 | ' |
Change in cash payment of unrecognized tax benefits, upper end of range | ' | ' | $25,000,000 | ' |
Retirement_and_Other_Employee_2
Retirement and Other Employee Benefits (Pension and Postretirement Health Care Benefits) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | |
U.S. Pension Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $0 | $0 | $0 | $0 |
Interest cost | 93,000,000 | 88,000,000 | 185,000,000 | 176,000,000 |
Expected return on plan assets | -98,000,000 | -90,000,000 | -196,000,000 | -182,000,000 |
Amortization of unrecognized net loss | 21,000,000 | 33,000,000 | 44,000,000 | 66,000,000 |
Amortization of unrecognized prior service cost (benefit) | 0 | 0 | 0 | 0 |
Net postretirement health care expense (benefits) | 16,000,000 | 31,000,000 | 33,000,000 | 60,000,000 |
Contributions | 40,000,000 | 26,000,000 | 66,000,000 | 50,000,000 |
Non-U.S. Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 4,000,000 | 3,000,000 | 7,000,000 | 6,000,000 |
Interest cost | 20,000,000 | 16,000,000 | 40,000,000 | 33,000,000 |
Expected return on plan assets | -23,000,000 | -18,000,000 | -45,000,000 | -37,000,000 |
Amortization of unrecognized net loss | 3,000,000 | 3,000,000 | 6,000,000 | 6,000,000 |
Amortization of unrecognized prior service cost (benefit) | 2,000,000 | -2,000,000 | 3,000,000 | -4,000,000 |
Net postretirement health care expense (benefits) | 6,000,000 | 2,000,000 | 11,000,000 | 4,000,000 |
Contributions | 3,000,000 | 3,000,000 | 20,000,000 | 17,000,000 |
Postretirement Health Care Benefits Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 1,000,000 | 0 | 1,000,000 | 1,000,000 |
Interest cost | 3,000,000 | 3,000,000 | 6,000,000 | 6,000,000 |
Expected return on plan assets | -2,000,000 | -3,000,000 | -5,000,000 | -5,000,000 |
Amortization of unrecognized net loss | 3,000,000 | 3,000,000 | 6,000,000 | 7,000,000 |
Amortization of unrecognized prior service cost (benefit) | -11,000,000 | -11,000,000 | -21,000,000 | -22,000,000 |
Net postretirement health care expense (benefits) | -6,000,000 | -8,000,000 | -13,000,000 | -13,000,000 |
Contributions | ' | ' | $0 | $0 |
ShareBased_Compensation_Plans_1
Share-Based Compensation Plans (Schedule Of Compensation Expense) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense included in Operating earnings | $26 | $27 | $54 | $62 |
Tax benefit | 8 | 8 | 17 | 19 |
Share-based compensation expense, net of tax | 18 | 19 | 37 | 43 |
Decrease in basic earnings per share (US$ per share) | ($0.07) | ($0.07) | ($0.15) | ($0.16) |
Decrease in diluted earnings per share (US$ per share) | ($0.07) | ($0.07) | ($0.14) | ($0.15) |
Share-based compensation expense in discontinued operations | 5 | 7 | 13 | 17 |
Cost Of Sales [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense included in Operating earnings | 3 | 4 | 7 | 8 |
Selling, General And Administrative Expenses [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense included in Operating earnings | 16 | 16 | 33 | 38 |
Research And Development Expenditures [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense included in Operating earnings | $7 | $7 | $14 | $16 |
ShareBased_Compensation_Plans_2
Share-Based Compensation Plans And Other Incentive Plans (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 1.2 | ' |
Allocated Share-based Compensation Expense | $26 | $27 | $54 | $62 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '3 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | 1.2 | ' |
Allocated Share-based Compensation Expense | ' | ' | 63 | ' |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '3 years | ' |
Allocated Share-based Compensation Expense | ' | ' | $15 | ' |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Of Assets And Liabilities) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Assets: | ' | ' |
Available-for-sale securities, fair value | $236 | $232 |
Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Foreign exchange derivative contracts | ' | 0 |
Interest agreement derivative contracts | ' | 0 |
Level 1 [Member] | Foreign Exchange Contracts [Member] | ' | ' |
Assets: | ' | ' |
Foreign exchange derivative contracts, fair value | ' | 0 |
Level 1 [Member] | Government, agency, and government-sponsored enterprise obligations | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 0 |
Level 1 [Member] | Corporate bonds | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 0 |
Level 1 [Member] | Mortgage-backed Securities [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 0 |
Level 1 [Member] | Common stock and equivalents | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 2 |
Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Foreign exchange derivative contracts | 3 | 2 |
Interest agreement derivative contracts | 3 | 3 |
Level 2 [Member] | Foreign Exchange Contracts [Member] | ' | ' |
Assets: | ' | ' |
Foreign exchange derivative contracts, fair value | 1 | 4 |
Level 2 [Member] | Government, agency, and government-sponsored enterprise obligations | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 15 |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | 15 | ' |
Level 2 [Member] | Corporate bonds | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 7 |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | 8 | ' |
Level 2 [Member] | Mutual Funds [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | 11 | ' |
Level 2 [Member] | Mortgage-backed Securities [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 11 |
Level 2 [Member] | Common stock and equivalents | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Liabilities: | ' | ' |
Foreign exchange derivative contracts | ' | 2 |
Interest agreement derivative contracts | ' | 3 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Foreign Exchange Contracts [Member] | ' | ' |
Assets: | ' | ' |
Foreign exchange derivative contracts, fair value | ' | 4 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Government, agency, and government-sponsored enterprise obligations | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 15 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Corporate bonds | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 7 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Mortgage-backed Securities [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | 11 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Common stock and equivalents | ' | ' |
Assets: | ' | ' |
Available-for-sale securities, fair value | ' | $2 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments in money market mutual funds classified as cash and cash equivalents | $1,800,000,000 | $2,100,000,000 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Level 3 holdings | 0 | 0 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Long-term debt, Fair Value | 2,600,000,000 | ' |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Long-term debt, Fair Value | $2,500,000,000 | ' |
Longterm_Customer_Financing_An2
Long-term Customer Financing And Sales Of Receivables (Long-Term Customer Financing) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Long-Term Customer Financing And Sales Of Receivables [Abstract] | ' | ' |
Long-term receivables | $37 | $27 |
Less current portion | -19 | -26 |
Non-current long-term receivables, net | $18 | $1 |
Longterm_Customer_Financing_An3
Long-term Customer Financing And Sales Of Receivables (Proceeds Received From Non-Recourse Sales Of Accounts Receivable And Long-Term Receivables) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Long-Term Customer Financing And Sales Of Receivables [Abstract] | ' | ' | ' | ' |
Accounts receivable sales proceeds | $26 | $2 | $33 | $3 |
Long-term receivables sales proceeds | 52 | 25 | 52 | 52 |
Total proceeds from receivable sales | $78 | $27 | $85 | $55 |
Longterm_Customer_Financing_An4
Long-term Customer Financing And Sales Of Receivables (Credit Quality Of Customer Financing Receivables And Allowance For Credit Losses) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total Long-term Receivable | $37 | $27 |
Current Billed Due | 1 | 10 |
Past Due Under 90 Days | 2 | 2 |
Past Due Over 90 Days | 12 | 10 |
Municipal Leases Secured Tax Exempt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total Long-term Receivable | 1 | 1 |
Current Billed Due | 0 | 0 |
Past Due Under 90 Days | 0 | 0 |
Past Due Over 90 Days | 0 | 0 |
Commercial Loans And Leases Secured [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total Long-term Receivable | 36 | 26 |
Current Billed Due | 1 | 10 |
Past Due Under 90 Days | 2 | 2 |
Past Due Over 90 Days | $12 | $10 |
Longterm_Customer_Financing_An5
Long-term Customer Financing And Sales Of Receivables (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |
Jun. 28, 2014 | Jun. 28, 2014 | Dec. 31, 2013 | |
Long-Term Customer Financing And Sales Of Receivables [Abstract] | ' | ' | ' |
Accrued interest on loans | $0 | $0 | ' |
Commitments to provide long-term financing | 166,000,000 | 166,000,000 | 50,000,000 |
Servicing obligations for long-term receivables | 460,000,000 | 460,000,000 | 434,000,000 |
Financing receivables past due over 90 days | $12,000,000 | $12,000,000 | $10,000,000 |
Segment_Information_Operating_
Segment Information (Operating Business Segment) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Business Segments Information | ' | ' | ' | ' |
Net Sales | $1,393 | $1,497 | $2,622 | $2,893 |
Operating earnings | 138 | 203 | 245 | 376 |
Total other expense | -40 | -35 | -59 | -53 |
Earnings before income taxes | 98 | 168 | 186 | 323 |
Products | ' | ' | ' | ' |
Business Segments Information | ' | ' | ' | ' |
Net Sales | 887 | 986 | 1,640 | 1,899 |
Operating earnings | 95 | 125 | 134 | 231 |
Services | ' | ' | ' | ' |
Business Segments Information | ' | ' | ' | ' |
Net Sales | 506 | 511 | 982 | 994 |
Operating earnings | $43 | $78 | $111 | $145 |
Reorganization_Of_Businesses_N
Reorganization Of Businesses (Net Charges Incurred By Business Segment) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reorganization of business charges | $28 | $18 | $38 | $25 |
Products | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reorganization of business charges | 18 | 12 | 24 | 17 |
Services | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reorganization of business charges | $10 | $6 | $14 | $8 |
Reorganization_Of_Businesses_R
Reorganization Of Businesses (Reorganization Of Businesses Accruals) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
1-Jan-14 | ' | $109 | ' |
Additional Charges | ' | 53 | ' |
Adjustments | -1 | -2 | -4 |
Amount Used | ' | -75 | ' |
28-Jun-14 | ' | 85 | ' |
Exit costs | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
1-Jan-14 | ' | 6 | ' |
Additional Charges | ' | 6 | ' |
Adjustments | ' | 0 | ' |
Amount Used | ' | -5 | ' |
28-Jun-14 | ' | 7 | ' |
Employee separation costs | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
1-Jan-14 | ' | 103 | ' |
Additional Charges | 19 | 47 | 29 |
Adjustments | ' | -2 | ' |
Amount Used | ' | -70 | ' |
28-Jun-14 | ' | $78 | ' |
Reorganization_Of_Businesses_N1
Reorganization Of Businesses (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Reorganization of business charges | $28 | $18 | $38 | $25 | ' |
Restructuring charges | ' | ' | 53 | ' | ' |
Restructuring reversals no longer needed | ' | -1 | -2 | -4 | ' |
Restructuring Reserve | 85 | ' | 85 | ' | 109 |
Number of Employees Impacted By Reorganization of Business | ' | ' | ' | ' | ' |
Restructuring charges settled with cash | ' | ' | 75 | ' | ' |
Cost Of Sales [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Reorganization of business charges | 3 | 5 | 4 | 5 | ' |
Other Expense [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Reorganization of business charges | 25 | 13 | 34 | 20 | ' |
Employee separation costs | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Reorganization of business charges | ' | ' | 34 | ' | ' |
Restructuring charges | ' | 19 | 47 | 29 | ' |
Restructuring reversals no longer needed | ' | ' | -2 | ' | ' |
Restructuring Reserve | 78 | ' | 78 | ' | 103 |
Number of Employees Impacted By Reorganization of Business | ' | ' | ' | ' | ' |
Restructuring charges in the period for total employee severance (in number of employees) | ' | ' | 600 | ' | ' |
Restructuring charges settled with cash | ' | ' | 70 | ' | ' |
Number of employees expected to be paid (in number of employees) | 750 | ' | 750 | ' | ' |
Exit costs | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Reorganization of business charges | ' | ' | 4 | ' | ' |
Restructuring charges | ' | ' | 6 | ' | ' |
Restructuring reversals no longer needed | ' | ' | 0 | ' | ' |
Restructuring Reserve | 7 | ' | 7 | ' | 6 |
Number of Employees Impacted By Reorganization of Business | ' | ' | ' | ' | ' |
Restructuring charges settled with cash | ' | ' | $5 | ' | ' |
Intangible_Assets_And_Goodwill2
Intangible Assets And Goodwill (Intangible Assets) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $73 | $53 |
Accumulated Amortization | 49 | 47 |
Completed technology | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 35 | 24 |
Accumulated Amortization | 25 | 24 |
Patents | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 8 | 8 |
Accumulated Amortization | 4 | 3 |
Customer-related | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 13 | 6 |
Accumulated Amortization | 6 | 6 |
Other intangibles | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 17 | 15 |
Accumulated Amortization | $14 | $14 |
Intangible_Assets_And_Goodwill3
Intangible Assets And Goodwill (Amortized Intangible Assets, Excluding Goodwill, By Business Segment) (Details) (USD $) | Jun. 28, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Gross Carrying Amount | $73 | $53 |
Accumulated Amortization | 49 | 47 |
Products | ' | ' |
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Gross Carrying Amount | 70 | 53 |
Accumulated Amortization | 49 | 47 |
Services | ' | ' |
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Gross Carrying Amount | 3 | 0 |
Accumulated Amortization | $0 | $0 |
Intangible_Assets_And_Goodwill4
Intangible Assets And Goodwill (Goodwill) (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 28, 2014 | Dec. 31, 2013 |
Goodwill Activity | ' | ' |
Aggregate goodwill | $383 | $361 |
Accumulated impairment losses | 0 | 0 |
Goodwill, net of impairment losses | 383 | 361 |
Goodwill acquired | 22 | ' |
Products | ' | ' |
Goodwill Activity | ' | ' |
Aggregate goodwill | 264 | 249 |
Accumulated impairment losses | 0 | 0 |
Goodwill, net of impairment losses | 264 | 249 |
Goodwill acquired | 15 | ' |
Services | ' | ' |
Goodwill Activity | ' | ' |
Aggregate goodwill | 119 | 112 |
Accumulated impairment losses | 0 | 0 |
Goodwill, net of impairment losses | 119 | 112 |
Goodwill acquired | $7 | ' |
Intangible_Assets_And_Goodwill5
Intangible Assets And Goodwill (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 0 Months Ended | ||||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 29, 2014 |
Acquired Communications Software Provider [Member] | Acquired Communications Software Provider [Member] | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Gross purchase price | ' | ' | ' | ' | ' | $48 | ' |
Goodwill | 383 | ' | 383 | ' | 361 | ' | 22 |
Identifiable intangible assets recognized | ' | ' | ' | ' | ' | ' | 20 |
Intangible Assets And Goodwill | ' | ' | ' | ' | ' | ' | ' |
Amortization expense on intangibles | 1 | 0 | 2 | 0 | ' | ' | ' |
Finite-Lived Intangible Assets, Future Amortization Expense | ' | ' | ' | ' | ' | ' | ' |
2014 | 4 | ' | 4 | ' | ' | ' | ' |
2015 | 4 | ' | 4 | ' | ' | ' | ' |
2016 | 4 | ' | 4 | ' | ' | ' | ' |
2017 | 3 | ' | 3 | ' | ' | ' | ' |
2018 | $3 | ' | $3 | ' | ' | ' | ' |