| (In millions, except per share amounts) | Motorola, Inc. and Consolidated Subsidiaries |
 |
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| Years ended December 31 | 1995 | 1994 | 1993 | |||
 |
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| Net sales | $27,037 | $22,245 | $16,963 | |||
|
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| Costs and expenses | ||||||
 Manufacturing and other costs of
sales |
17,545 | 13,760 | 10,351 | |||
| Selling,
general and administrative
expenses |
4,642 | 4,381 | 3,776 | |||
| Depreciation expense |
1,919 | 1,525 | 1,170 | |||
| Interest
expense, net |
149 | 142 | 141 | |||
|
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 Total costs
and expenses |
24,255 | 19,808 | 15,438 | |||
|
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| Earnings before income taxes | 2,782 | 2,437 | 1,525 | |||
|
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| Income taxes provided on earnings | 1,001 | 877 | 503 | |||
|
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| Net earnings | $1,781 | $1,560 | $1,022 | |||
|
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| Fully diluted net earnings per common
andcommon equivalent
share1,2 |
$2.93 | $2.65 | $1.78 | |||
|
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| Fully diluted average common and commonequivalent shares
outstanding1,2 |
609.8 | 592.7 | 583.7 | |||
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| 1Primary earnings
per common and common
equivalent share were the same as fully diluted for all years shown,
except in 1994 when they
were one cent higher than fully diluted.
Average primary common and common equivalent shares outstanding for
1995, 1994 and 1993 were
609.7, 591.7 and 582.6, respectively (which includes the dilutive
effects of the
convertible zero coupon notes and the outstanding stock options). 2Includes adjustments for the 1994 two-for-one stock split effected in the form of a 100 percent stock dividend. |
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|
Common Stock and
|
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| (In millions, except per share amounts) |
Additional Paid-in
Capital1 |
Retained
Earnings |
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|
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| Years ended December 31 | 1995 | 1994 | 1993 | 1995 | 1994 | 1993 |
|
||||||
| Balances at January 1 | $3,179 | $1,875 | $1,510 | $5,917 | $4,534 | $3,634 |
|
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| Net earnings |
- | - | - | 1,781 | 1,560 | 1,022 |
|
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| Conversion of zero coupon notes |
23 | 251 | 216 | - | - | - |
|
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| Stock
issuance2 |
- | 973 | - | - | - | - |
|
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| Unrealized net gain (loss) on certain
investments |
328 | (8) | - | - | - | - |
|
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| Stock options exercised and other |
57 | 88 | 149 | - | - | - |
|
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| Dividends declared ($.40 per share in 1995, |
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| $.31 in 1994 and $.22 in 1993) |
- | - | - | (237) | (177) | (122) |
|
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| Balances at December 31 | $3,587 | $3,179 | $1,875 | $7,461 | $5,917 | $4,534 |
|
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| 11994 Stock Split:
An amount equal to the
par value of the additional shares issued has been transferred from
additional paid-in capital
to common stock due to the two-for-one
stock split effected in the form of a 100 percent stock dividend. All
references to shares
outstanding, dividends and per share amounts during 1994 and 1993 have
been adjusted on a
retroactive basis. 2During November 1994, the Company completed a public equity offering of 17.1 million shares of common stock. See accompanying condensed notes to consolidated financial statements. |
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