Motorola Solutions Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,154	1,577	1,709	1,363	1,245
Depreciation & Amortization	425	336	356	440	438
Asset Writedown & Restructuring Costs	-	-	24	147	-
Loss (Gain) From Sale of Investments	-	-	-	-3	-1
Stock-Based Compensation	293	243	212	172	129
Other Operating Activities	9	606	19	33	26
Change in Accounts Receivable	-394	-459	-262	-113	-202
Change in Inventory	-145	62	200	-242	-284
Change in Accounts Payable	280	302	-144	451	578
Change in Other Net Operating Assets	121	-61	-38	-91	-126
Operating Cash Flow	2,837	2,391	2,044	1,823	1,837
Operating Cash Flow Growth	18.65%	16.98%	12.12%	-0.76%	13.89%
Capital Expenditures	-265	-257	-253	-256	-243
Sale of Property, Plant & Equipment	-	-	-	-	6
Cash Acquisitions	-4,916	-290	-180	-1,177	-521
Investment in Securities	17	40	19	46	16
Investing Cash Flow	-5,164	-507	-414	-1,387	-742
Short-Term Debt Issued	923	-	-	-	-
Long-Term Debt Issued	2,733	1,288	-	595	844
Total Debt Issued	3,656	1,288	-	595	844
Short-Term Debt Repaid	-179	-	-	-	-
Long-Term Debt Repaid	-322	-1,906	-1	-285	-353
Total Debt Repaid	-501	-1,906	-1	-285	-353
Net Debt Issued (Repaid)	3,155	-618	-1	310	491
Issuance of Common Stock	46	75	104	156	102
Repurchase of Common Stock	-1,154	-247	-804	-836	-528
Common Dividends Paid	-728	-654	-589	-530	-482
Other Financing Activities	-10	-4	-5	-6	-12
Financing Cash Flow	1,309	-1,448	-1,295	-906	-429
Foreign Exchange Rate Adjustments	81	-39	45	-79	-46
Net Cash Flow	-937	397	380	-549	620
Free Cash Flow	2,572	2,134	1,791	1,567	1,594
Free Cash Flow Growth	20.52%	19.15%	14.29%	-1.69%	14.18%
Free Cash Flow Margin	22.02%	19.73%	17.95%	17.20%	19.51%
Free Cash Flow Per Share	15.22	12.49	10.41	9.12	9.18
Cash Interest Paid	285	253	234	226	207
Cash Income Tax Paid	569	627	587	307	257
Levered Free Cash Flow	1,996	1,859	1,468	1,592	1,464
Unlevered Free Cash Flow	2,221	2,043	1,623	1,742	1,598
Change in Working Capital	-44	-371	-276	-329	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.