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    Motorola Solutions Inc (MSI)

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    Business Description

    Motorola Solutions is a company that specializes in providing communication and security solutions through its two main segments: "Products and Systems Integration" and "Software and Services" . The company offers a range of products, including Land Mobile Radio Communications, Video Security and Access Control, and Command Center solutions . These products are designed to enhance public safety and professional communications, as well as improve decision-making through integrated voice, video, and data analytics .

    1. Products and Systems Integration - Encompasses Land Mobile Radio Communications, which includes infrastructure, devices, and software for public safety and professional radio communications, significantly contributing to the company's revenue .
      • Land Mobile Radio Communications (LMR) - Provides infrastructure, devices, and software for public safety and professional radio communications.
    2. Software and Services - Offers solutions that unify voice, video, and data analytics to improve decision-making .
      • Video Security and Access Control - Provides cameras, access control, and AI-powered analytics.
      • Command Center - Delivers solutions that unify voice, video, and data analytics to enhance decision-making.

    Key Metrics

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    Executive Team

    NamePositionStart DateShort Bio
    Gregory Q. BrownChairman and Chief Executive OfficerMay 3, 2011Gregory Q. Brown has been serving as the Chairman and Chief Executive Officer of Motorola Solutions, Inc. since May 3, 2011. He has a thorough knowledge of the company's business, strategy, people, operations, competition, and financial position .
    Karen E. DunningSenior Vice President, Human ResourcesFebruary 1, 2023Karen E. Dunning is the Senior Vice President, Human Resources for Motorola Solutions. She has been with the company since 1985 and has held several leadership positions in strategy, business operations, and engineering throughout her career .
    Katherine MaherCorporate Vice President and Chief Accounting OfficerMarch 14, 2022Katherine Maher is the Corporate Vice President and Chief Accounting Officer at Motorola Solutions, Inc. She has held this position since March 14, 2022. Prior to this role, she served as Vice President and Corporate Controller from November 2021 to March 2022 .
    John P. "Jack" MolloyExecutive Vice President and Chief Operating Officer1994John P. "Jack" Molloy is the Executive Vice President and Chief Operating Officer for Motorola Solutions. He leads the company's worldwide sales and services organization and product development of land mobile radio and video security and access control .
    Rajan S. NaikSenior Vice President, Strategy and Ventures2015Rajan S. Naik is the Senior Vice President, Strategy and Ventures at Motorola Solutions. He is responsible for the corporate strategy organization, mergers and acquisitions, venture capital portfolio, and competitive and market intelligence .
    James A. NiewiaraSenior Vice President, General CounselFebruary 1, 2023James A. Niewiara is the Senior Vice President and General Counsel of Motorola Solutions. He has been with the company since 2008 and has held several leadership roles within the legal department .
    Mahesh SaptharishiExecutive Vice President and Chief Technology Officer2019Mahesh Saptharishi is the Executive Vice President and Chief Technology Officer for Motorola Solutions. He is responsible for the company's public safety software and video security and access control solutions, and he also leads the chief technology office .
    Jason J. WinklerExecutive Vice President and Chief Financial Officer2001Jason J. Winkler is the Executive Vice President and Chief Financial Officer for Motorola Solutions. He is responsible for the company's financial strategy and leads all financial functions, as well as supply chain and information technology .
    Cynthia M. YazdiSenior Vice President, Communications & Brand2000Cynthia M. Yazdi is the Senior Vice President, Communications & Brand for Motorola Solutions. She is responsible for supporting the Chairman and CEO of Motorola Solutions and for global communications and brand for the company .
    Nicole AnasenesDirector, Member of the Audit CommitteeFebruary 21, 2024Nicole Anasenes joined the board of Motorola Solutions, Inc. as a director on February 21, 2024. She also became a member of the Audit Committee on the same date .
    Elizabeth MannDirector, Member of the Audit CommitteeAugust 26, 2024Elizabeth D. Mann joined the Board of Directors of Motorola Solutions, Inc. on August 26, 2024, when the size of the Board was increased from eight to nine members. She also became a member of the Audit Committee on the same date .

    Questions to Ask Management

    1. Given the record gross margins reported this quarter, how should we think about gross margins moving forward, especially considering supply chain normalization and the APX NEXT product cycle?

    2. With the potential for reduced public sector spending following the recent election, how do you anticipate this impacting MSI's core customer base and revenue growth, particularly given your significant exposure to state and local budgets?

    3. Can you elaborate on your M&A strategy moving forward, and whether changes in the administration will affect your capital allocation plans or openness to pursue larger deals that you may have previously been hesitant to undertake?

    4. Considering the drawdown in product backlog due to strong LMR shipments and easing supply chain constraints, how are you expecting the product backlog to trend going forward, and what are the key drivers that will sustain LMR growth rates into next year?

    5. Given that the improved supply chain environment has helped you expand margins this quarter, to what extent can we expect this trend to continue, and are there any risks that could impact operating margins or cash flows in the coming quarters?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateJuly 28, 2011
    End Date/DurationNo expiration date
    Total additional amount$18.0 billion
    Remaining authorization amount$2.3 billion (as of 2024-12-21)
    DetailsThe program allows for the repurchase of up to $18.0 billion of outstanding shares.

    Debt Maturity Schedule

    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    20252527.5% Debentures7.54.2% = (252 / 6,000) * 100
    2025706.5% Debentures6.51.2% = (70 / 6,000) * 100
    20286964.6% Senior Notes4.611.6% = (696 / 6,000) * 100
    2028246.5% Debentures6.50.4% = (24 / 6,000) * 100
    20293965.0% Senior Notes5.06.6% = (396 / 6,000) * 100
    20298024.6% Senior Notes4.613.4% = (802 / 6,000) * 100
    20308952.3% Senior Notes2.314.9% = (895 / 6,000) * 100
    20318462.75% Senior Notes2.7514.1% = (846 / 6,000) * 100
    20325965.6% Senior Notes5.69.9% = (596 / 6,000) * 100
    20348925.4% Senior Notes5.414.9% = (892 / 6,000) * 100
    2037386.625% Senior Notes6.6250.6% = (38 / 6,000) * 100
    20443975.5% Senior Notes5.56.6% = (397 / 6,000) * 100
    2097935.22% Debentures5.221.6% = (93 / 6,000) * 100

    Competitors

    Competitors mentioned in the company's latest 10K filing.

    • Airbus - Competitor in LMR technology
    • BK Technologies - Competitor in LMR technology
    • Hytera - Competitor in LMR technology
    • iCOM - Competitor in LMR technology
    • JVCKenwood Corporation - Competitor in LMR technology
    • L3Harris Technologies - Competitor in LMR technology
    • RCA - Competitor in LMR technology
    • Samsung - Competitor in LMR technology
    • Sepura - Competitor in LMR technology
    • Tait - Competitor in LMR technology
    • Zebra - Competitor in LMR technology
    • Allegion - Competitor in Video technology
    • Assa Abloy - Competitor in Video technology
    • Axis Communications - Competitor in Video technology
    • Axon Enterprise - Competitor in Video and Command Center technologies
    • Brivo - Competitor in Video technology
    • Dahua Technology Company - Competitor in Video technology
    • dormakaba - Competitor in Video technology
    • Genetec - Competitor in Video and Command Center technologies
    • Hanwha Group - Competitor in Video technology
    • Hikvision - Competitor in Video technology
    • Honeywell - Competitor in Video technology
    • Milestone Systems - Competitor in Video technology
    • Spectrum Brands - Competitor in Video technology
    • Verkada - Competitor in Video technology
    • AlertMedia - Competitor in Command Center technology
    • CentralSquare Technologies - Competitor in Command Center technology
    • Comtech Telecommunications - Competitor in Command Center technology
    • Everbridge - Competitor in Command Center technology
    • Fusus - Competitor in Command Center technology
    • Hexagon - Competitor in Command Center technology
    • Intrado - Competitor in Command Center technology
    • Mark43 - Competitor in Command Center technology
    • Omnilert - Competitor in Command Center technology
    • Onsolve - Competitor in Command Center technology
    • Oracle Public Safety - Competitor in Command Center technology
    • Tyler Technologies - Competitor in Command Center technology

    Customer Concentration

    CustomerRelationshipSegmentDetails
    U.S. Government
    Long-term contracts with various branches and agencies
    All
    8% of consolidated net sales in 2023
    Home Office of the United Kingdom
    Long-term mission-critical communication services
    All
    6% of consolidated net sales in 2023

    Auditor

    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP (PwC)May 14, 2018 PresentCurrent auditor.
    KPMG LLP1959 December 31, 2018 Motorola Solutions conducted a competitive process to select a new auditor.

    Latest news

    Recent developments and announcements about MSI.

    Financial Reporting

      Auditor Changes

      ·
      May 17, 2018, 12:00 AM

      Motorola Solutions, Inc. (MSI) has changed its auditor.

      • Former Auditor: KPMG LLP
      • New Auditor: PricewaterhouseCoopers LLP (PwC)
      • Effective Date: PwC's appointment is for the fiscal year ending December 31, 2019, and related interim periods. KPMG will continue until the completion of the audit for the fiscal year ending December 31, 2018.
      • Reason for Change: The change was recommended by the Executive Committee and approved by the Audit Committee after a competitive selection process involving the 'Big Four' accounting firms.