For the year ending 2025-12-31, MSI had -$937M decrease in cash & cash equivalents over the period. $2,572M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings | 2,160 | 1,582 | 1,714 | 1,367 |
| Depreciation and amortization | 425 | 336 | 356 | 440 |
| Non-cash other charges | 3 | 16 | 14 | 23 |
| Exit of video manufacturing operations | 0 | 0 | 24 | - |
| Loss on esn fixed asset impairment | - | 0 | 0 | 147 |
| Share-based compensation expenses | 293 | 243 | 212 | 172 |
| Gains on sales of investments and businesses, net | - | 0 | 0 | 3 |
| Loss from the extinguishment of silver lake convertible debt | 0 | -585 | 0 | -6 |
| Accounts receivable | 173 | 246 | 180 | 112 |
| Inventories | 145 | -62 | -200 | 242 |
| Other current assets and contract assets | 221 | 213 | 82 | 1 |
| Accounts payable, accrued liabilities, and contract liabilities | 280 | 302 | -144 | 451 |
| Other assets and liabilities | -121 | 61 | 38 | 91 |
| Deferred income taxes | 94 | -215 | -32 | -334 |
| Net cash provided by operating activities | 2,837 | 2,391 | 2,044 | 1,823 |
| Acquisitions and investments, net | 4,916 | 290 | 180 | 1,177 |
| Proceeds from sales of investments | 17 | 40 | 19 | 46 |
| Capital expenditures | 265 | 257 | 253 | 256 |
| Proceeds from sales of property, plant and equipment | - | - | 0 | 0 |
| Net cash used for investing activities | -5,164 | -507 | -414 | -1,387 |
| Net proceeds from issuance of debt | 2,733 | 1,288 | 0 | 595 |
| Net proceeds from short-term borrowings | 923 | - | - | - |
| Repayment of debt | 322 | 1,906 | 1 | 285 |
| Repayment of unsecured revolving credit facility draw | - | - | - | 0 |
| Proceeds from unsecured revolving credit facility draw | - | - | - | 0 |
| Repayment of short-term borrowings | 179 | - | - | - |
| Revolving credit facility renewal fees | 5 | - | 0 | 0 |
| Issuances of common stock, net of tax | 46 | 75 | 104 | 156 |
| Purchases of common stock | 1,154 | 247 | 804 | 836 |
| Payment of dividends | 728 | 654 | 589 | 530 |
| Payment of dividends to noncontrolling interest | 5 | 4 | 5 | 6 |
| Net cash provided by (used for) financing activities | 1,309 | -1,448 | -1,295 | -906 |
| Effect of exchange rate changes on cash and cash equivalents | 81 | -39 | 45 | -79 |
| Net increase (decrease) in cash and cash equivalents | -937 | 397 | 380 | -549 |
| Cash and cash equivalents at beginning of period | 2,102 | 1,705 | 1,325 | 1,874 |
| Cash and cash equivalents at end of period | 1,165 | 2,102 | 1,705 | 1,325 |
Motorola Solutions, Inc. (MSI)
Motorola Solutions, Inc. (MSI)