Summary
This Amendment No. 1 to Form 8-K filed by Motorola, Inc. on October 15, 2002, addresses a minor reclassification of expenses related to its adoption of a new profit and loss (P&L) presentation format. The company previously filed an 8-K on April 9, 2002, to present its 2000 and 2001 financial data in this new format for better historical comparability. This amendment clarifies that certain depreciation expenses and software costs from 2001 were inadvertently misallocated between 'Costs of sales' and 'Selling, general and administrative expenses' in the original filing. The company emphasizes that this reallocation has no impact on Motorola's historical sales, total expenses, or overall earnings for 2001. The primary purpose of this filing is to ensure accurate historical comparisons for investors by correcting the expense categorization.
Key Highlights
- 1Amendment corrects a misallocation of 2001 depreciation and software costs between 'Costs of sales' and 'Selling, general and administrative expenses'.
- 2The company adopted a new P&L presentation format starting in Q1 2002, expanding expense categories.
- 3This reclassification has no impact on Motorola's reported historical sales or earnings for 2001.
- 4The total amount of expenses for 2001 remains unchanged.
- 5This filing aims to provide investors with accurate historical comparisons under the new financial reporting format.
- 6Reclassified consolidated statements of operations for the quarters and full year of 2001 are provided as Exhibit 99.1.