Summary
This 8-K filing by Motorola, Inc. (MSI) on April 3, 2001, primarily serves to announce a change in their pro-forma financial reporting methodology. Effective the first quarter of 2001, Motorola will exclude the impact of goodwill amortization from its ongoing operations and segment results, specifically by removing it from selling, general, and administrative expenses. The purpose of this filing is to present historical pro-forma financial data for the four quarters and full years of 1999 and 2000, restated to reflect this new reporting standard.
Key Highlights
- 1Motorola is changing its pro-forma reporting to exclude goodwill amortization from ongoing operations and segment results, starting Q1 2001.
- 2The exclusion of goodwill amortization will be reflected by removing it from selling, general, and administrative expenses.
- 3This 8-K provides historical pro-forma financial results for the full years 1999 and 2000 under the revised methodology.
- 4Historical pro-forma results for each of the four quarters in 1999 and 2000 are also presented.
- 5The filing includes Exhibit 99.1, which contains the detailed presentation of these revised pro-forma consolidated statements of earnings and segment information.
- 6This change aims to provide a clearer view of operational performance by removing a non-cash accounting charge.
- 7Investors should note that reported pro-forma figures will differ from previously issued statements due to this accounting change.