Motorola Solutions, Inc. (MSI) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Total revenues [+]	8,171.0	7,414.0	7,887.0	7,343.0	6,380.0	6,038.0	5,695.0	5,881.0
Products	8,171.0	7,414.0	7,887.0	7,343.0	6,380.0		3,676.0	3,807.0
Services							2,019.0	2,074.0
Revenue growth	10.2%	-6.0%	7.4%	15.1%	5.7%	6.0%	-3.2%	-5.6%
Cost of goods sold [+]	4,131.0	3,806.0	3,956.0	3,863.0	3,356.0	3,169.0	2,976.0	3,050.0
Cost of product sales							1,625.0	1,678.0
Cost of services							1,351.0	1,372.0
Gross profit	4,040.0	3,608.0	3,931.0	3,480.0	3,024.0	2,869.0	2,719.0	2,831.0
Gross margin	49.4%	48.7%	49.8%	47.4%	47.4%	47.5%	47.7%	48.1%
Selling, general and administrative	1,353.0	1,293.0	1,403.0	1,254.0	1,025.0	1,044.0	1,021.0	1,184.0
Research and development	734.0	686.0	687.0	637.0	568.0	553.0	620.0	681.0
Other operating expenses	254.0	160.0	203.0	214.0	105.0	84.0	-33.0	1,907.0
EBITDA [+]	2,137.0	1,878.0	2,032.0	1,735.0	1,669.0	1,483.0	1,261.0	-768.0
EBITDA growth	13.8%	-7.6%	17.1%	4.0%	12.5%	17.6%	-264.2%	-164.5%
EBITDA margin	26.2%	25.3%	25.8%	23.6%	26.2%	24.6%	22.1%	-13.1%
Depreciation	202.0	194.0	186.0	172.0	192.0	182.0	142.0	169.0
EBITA	1,935.0	1,684.0	1,846.0	1,563.0	1,477.0	1,301.0	1,119.0	-937.0
EBITA margin	23.7%	22.7%	23.4%	21.3%	23.2%	21.5%	19.6%	-15.9%
Amortization of intangibles	236.0	215.0	208.0	188.0	151.0	113.0	8.0	4.0
EBIT [+]	1,699.0	1,469.0	1,638.0	1,375.0	1,326.0	1,188.0	1,111.0	-941.0
EBIT growth	15.7%	-10.3%	19.1%	3.7%	11.6%	6.9%	-218.1%	-191.1%
EBIT margin	20.8%	19.8%	20.8%	18.7%	20.8%	19.7%	19.5%	-16.0%
Non-recurring items [+]	32.0	86.0	57.0	120.0	42.0	140.0	117.0	65.0
Asset impairment	32.0	86.0	57.0	120.0	42.0	140.0	117.0	73.0
Interest expense, net [+]	208.0	220.0	220.0	222.0	201.0	205.0	173.0	126.0
Interest expense	215.0	233.0	237.0	240.0	215.0	225.0	186.0	126.0
Interest income	7.0	13.0	17.0	18.0	14.0	20.0	13.0
Other income (expense), net	93.0	11.0	-360.0	69.0	-7.0	1.0	96.0	-29.0
Pre-tax income	1,552.0	1,174.0	1,001.0	1,102.0	1,076.0	844.0	917.0	-1,161.0
Income taxes	302.0	221.0	130.0	133.0	1,227.0	282.0	274.0	-465.0
Tax rate	19.5%	18.8%	13.0%	12.1%	114.0%	33.4%	29.9%	40.1%
Minority interest	5.0	4.0	3.0	3.0	4.0	2.0	3.0	1.0
Net income	1,245.0	949.0	868.0	966.0	-155.0	560.0	1,253.0	1,299.0
Net margin	15.2%	12.8%	11.0%	13.2%	-2.4%	9.3%	22.0%	22.1%

Basic EPS [+]	$7.36	$5.58	$5.21	$5.95	($0.95)	$3.30	$6.28	$5.29
Growth	31.8%	7.1%	-12.4%	-725.1%	-128.8%	-47.4%	18.7%	28.0%
Diluted EPS [+]	$7.17	$5.45	$4.94	$5.62	($0.95)	$3.24	$6.21	$5.29
Growth	31.6%	10.3%	-12.0%	-690.3%	-129.4%	-47.9%	17.4%	30.2%

Dividends per share [+]	$2.92	$2.63	$2.35	$2.13	$1.93	$1.70	$1.43	$1.30
Growth	11.0%	11.9%	10.3%	10.4%	13.5%	18.9%	10.0%	14.0%

Shares outstanding (basic) [+]	169.2	170.0	166.6	162.4	162.9	169.6	199.6	245.6
Growth	-0.5%	2.0%	2.6%	-0.3%	-4.0%	-15.0%	-18.7%	-7.7%
Shares outstanding (diluted) [+]	173.6	174.1	175.6	172.0	162.9	173.1	201.8	245.6
Growth	-0.3%	-0.9%	2.1%	5.6%	-5.9%	-14.2%	-17.8%	-9.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.