Summary
Motorola Solutions, Inc. (MSI) filed an 8-K on August 7, 2014, primarily to update its 2013 Annual Report (10-K) with significant financial statement reclassifications. The company is realigning its operations into two distinct segments: Products and Services. This change reflects a more focused operational structure. Additionally, the Enterprise business, previously a part of the company's ongoing operations, has been reclassified as discontinued operations. This is a direct consequence of the agreement to sell certain assets and liabilities of the Enterprise business to Zebra Technologies, Inc., announced earlier in the year. These reclassifications are applied retrospectively to all periods presented in the financial statements. This means that for historical comparisons, investors will see the Enterprise business's results presented separately as discontinued operations, and its associated assets and liabilities will be shown as held for sale. This aims to provide a clearer view of the ongoing core businesses of Motorola Solutions, Inc. going forward and to better represent the impact of the divestiture.
Key Highlights
- 1Motorola Solutions is updating its 2013 Annual Report to reflect a new operational structure.
- 2The company's operations are now formally presented in two segments: Products and Services.
- 3The Enterprise business is now classified as discontinued operations.
- 4This reclassification is due to the agreement to sell the Enterprise business assets and liabilities to Zebra Technologies.
- 5Financial results and balance sheets have been restated to reflect these changes for all periods presented.
- 6Assets and liabilities related to the Enterprise business sale are presented as 'held for sale'.
- 7Updated financial statements and Management's Discussion and Analysis are attached as exhibits.