(In millions, except per share amounts)	Motorola, Inc. and Consolidated Subsidiaries

Years ended December 31		1995		1994		1993		1992		1991
Operating Results
Net sales		$27,037		$22,245		$16,963		$13,303		$11,341
Manufacturing and other costs of sales		17,545		13,760		10,351		8,395		7,134
Selling, general and administrative expenses		4,642		4,381		3,776		2,951		2,579
Depreciation expense		1,919		1,525		1,170		1,000		886
Interest expense, net		149		142		141		157		129
Total costs and expenses		24,255		19,808		15,438		12,503		10,728
Earnings before income taxes and cumulative effect
of change in accounting principle		2,782		2,437		1,525		800		613
Income taxes provided on earnings		1,001		877		503		224		159
Net earnings before cumulative effect of change
in accounting principle		$1,781		$1,560		$1,022		$576		$454
Net earnings		$1,781		$1,560		$1,022		$453		$454
Net earnings before cumulative effect of change
in accounting principle as a percent of sales		6.6	%	7.0	%	6.0	%	4.3	%	4.0	%
Net earnings as a percent of sales		6.6	%	7.0	%	6.0	%	3.4	%	4.0	%
Per Share Data (in dollars)1,2
Fully diluted
Net earnings before cumulative effect of change
in accounting principle		$2.93		$2.65		$1.78		$1.05		$0.84
Cumulative effect of change in accounting principle		-		-		-		(0.22)		-
Net earnings		$2.93		$2.65		$1.78		$0.83		$0.84
Average common and common equivalent shares outstanding		609.8		592.7		583.7		567.1		558.5
Dividends declared		$0.400		$0.310		$0.220		$0.198		$0.190
Balance Sheet
Total assets		$22,801		$17,536		$13,498		$10,629		$9,375
Working capital		2,717		3,008		2,324		1,883		1,424
Long-term debt		1,949		1,127		1,360		1,258		954
Total debt		3,554		2,043		1,915		1,695		1,806
Total stockholders' equity		$11,048		$9,096		$6,409		$5,144		$4,630
Other Data
Current ratio		1.35		1.51		1.53		1.56		1.46
Return on average invested capital before cumulative
effect of change in accounting principle		14.7	%	17.5	%	15.3	%	9.4	%	7.8	%
Return on average invested capital		14.7	%	17.5	%	15.3	%	7.5	%	7.8	%
Return on average stockholders' equity before
cumulative effect of change in accounting principle		17.7	%	21.0	%	17.8	%	11.7	%	10.2	%
Return on average stockholders' equity		17.7	%	21.0	%	17.8	%	9.4	%	10.2	%
Fixed asset expenditures		$4,225		$3,322		$2,187		$1,442		$1,387
% to sales		15.6	%	14.9	%	12.9	%	10.8	%	12.2	%
Research and development expenditures		$2,197		$1,860		$1,521		$1,306		$1,133
% to sales		8.1	%	8.4	%	9.0	%	9.8	%	10.0	%
Year-end employment (in thousands)		142		132		120		107		102

1All earnings per share, dividends and outstanding shares data have been restated to reflect the 1994 and 1992 two-for-one stock splits.

2Primary earnings per common and common equivalent share were the same as fully diluted for all years shown except in 1994 and 1991 when primary earnings per share were one cent higher than fully diluted. Average primary common and common equivalent shares outstanding for 1995, 1994, 1993, 1992 and 1991 were 609.7, 591.7, 582.6, 565.6 and 555.6, respectively.