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Press Release: Motorola Solutions Reports -4-

· 02/04/2021 16:10
Net sales 2,273 2,377 Costs of products sales 568 621 Costs of services sales 559 536 --- ---------- ---- --- ---------- ---- Costs of sales 1,127 1,157 --- ---------- ---- --- ---------- ---- Gross margin 1,146 1,220 --- ---------- ---- --- ---------- ---- Selling, general and administrative expenses 343 368 Research and development expenditures 182 182 Other charges 9 26 Intangibles amortization 57 54 --- ---------- ---- --- ---------- ---- Operating earnings 555 590 Other income (expense): Interest expense, net (53) (55) Gains (losses) on sales of investments and businesses, net (1) 1 Other, net 21 (343) --- ---------- ---- --- ---------- --- Total other expense (33) (397) --- ---------- --- --- ---------- --- Net earnings before income taxes 522 193 Income tax expense (benefit) 109 (51) --- ---------- ---- --- ---------- --- Net earnings 413 244 Less: Earnings attributable to noncontrolling interests 1 - --- ---------- ---- --- ---------- ---- Net earnings attributable to Motorola Solutions, Inc. 412 244 === ========== ==== === ========== ==== Earnings per common share: ---------------------------- Basic: $ 2.43 $ 1.43 Diluted: $ 2.37 $ 1.39 Weighted average common shares outstanding: ---------------------------- Basic 169.5 170.9 Diluted 173.5 175.6 --- ---------- ---- --- ---------- ---- Percentage of Net Sales* -------------------------------------------- Net sales from products 58.3% 63.4% Net sales from services 41.7% 36.6% --- ---------- --- --- ---------- --- Net sales 100.0% 100.0% Costs of products sales 42.8% 41.2% Costs of services sales 59.0% 61.6% --- ---------- --- --- ---------- --- Costs of sales 49.6% 48.7% --- ---------- --- --- ---------- --- Gross margin 50.4% 51.3% --- ---------- --- --- ---------- --- Selling, general and administrative expenses 15.1% 15.5% Research and development expenditures 8.0% 7.7% Other charges 0.4% 1.1% Intangibles amortization 2.5% 2.3% --- ---------- --- --- ---------- --- Operating earnings 24.4% 24.8% --- ---------- --- --- ---------- --- Other income (expense): Interest expense, net (2.3)% (2.3)% Gains (losses) on sales of investments and businesses, net -% -% Other, net 0.9% (14.4)% --- ---------- --- --- ---------- Total other expense (1.5)% (16.7)% --- ---------- --- ---------- Net earnings before income taxes 23.0% 8.1% Income tax expense (benefit) 4.8% (2.1)% --- ---------- --- --- ---------- Net earnings 18.2% 10.3% --- ---------- --- --- ---------- --- Less: Earnings attributable to noncontrolling interests 0.1% -% Net earnings attributable to Motorola Solutions, Inc. 18.1% 10.3% --- ---------- --- --- ---------- --- * Percentages may not add up due to rounding GAAP-2 Motorola Solutions, Inc. and Subsidiaries Consolidated Statements of Operations (In millions, except per share amounts) Years Ended ------------------------------------------------------ December 31, 2020 December 31, 2019 December 31, 2018 ---------------- ----------------- ----------------- Net sales from products $ 4,087 $ 4,746 $ 4,463 Net sales from services 3,327 3,141 2,880 --- ----- ---- --- ------ ---- --- ------ ---- Net sales 7,414 7,887 7,343 Costs of products sales 1,872 2,049 2,035 Costs of services sales 1,934 1,907 1,828 --- ----- ---- --- ------ ---- --- ------ ---- Costs of sales 3,806 3,956 3,863 --- ----- ---- --- ------ ---- --- ------ ---- Gross margin 3,608 3,931 3,480 --- ----- ---- --- ------ ---- --- ------ ---- Selling, general and administrative expenses 1,293 1,403 1,254 Research and development expenditures 686 687 637 Other charges 31 52 146 Intangibles amortization 215 208 188 --- ----- ---- --- ------ ---- --- ------ ---- Operating earnings 1,383 1,581 1,255 --- ----- ---- --- ------ ---- --- ------ ---- Other income (expense): Interest expense, net (220) (220) (222) Gains (losses) on sales of investments and businesses, net (2) 5 16 Other, net 13 (365) 53 --- ----- ---- --- ------ --- --- ------ ---- Total other expense (209) (580) (153) --- ----- --- --- ------ --- --- ------ --- Net earnings before income taxes 1,174 1,001 1,102 Income tax expense 221 130 133 --- ----- ---- --- ------ ---- --- ------ ---- Net earnings 953 871 969 Less: Earnings attributable to noncontrolling interests 4 3 3 --- ----- ---- --- ------ ---- --- ------ ---- Net earnings attributable to Motorola Solutions, Inc. $ 949 $ 868 $ 966 === ===== ==== === ====== ==== === ====== ==== Earnings per common share: ---------------- Basic: $ 5.58 $ 5.21 $ 5.95 Diluted: $ 5.45 $ 4.95 $ 5.62 Weighted average common shares outstanding: ---------------- Basic 170.0 166.6 162.4 Diluted 174.1 175.6 172.0 --- ----- ---- --- ------ ---- --- ------ ---- Percentage of Net Sales* ------------------------------------------------------ Net sales from products 55.1% 60.2% 60.8% Net sales from services 44.9% 39.8% 39.2% --- ----- --- --- ------ --- --- ------ --- Net sales 100.0% 100.0% 100.0% Costs of products sales 45.8% 43.2% 45.6% Costs of services sales 58.1% 60.7% 63.5% --- ----- --- --- ------ --- --- ------ --- Costs of sales 51.3% 50.2% 52.6% --- ----- --- --- ------ --- --- ------ --- Gross margin 48.7% 49.8% 47.4% --- ----- --- --- ------ --- --- ------ --- Selling, general and administrative

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February 04, 2021 16:10 ET (21:10 GMT)