Motorola Solutions Inc., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land	5)	5)	5)	6)	15)
Leasehold improvements	448)	456)	474)	439)	410)
Machinery and equipment	2,396)	2,303)	2,439)	2,276)	2,051)
Property, plant and equipment, gross	2,849)	2,764)	2,918)	2,721)	2,476)
Accumulated depreciation	(1,885)	(1,837)	(1,876)	(1,699)	(1,484)
Property, plant and equipment, net	964)	927)	1,042)	1,022)	992)

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Item	Description	The company
Property, plant and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Motorola Solutions Inc. property, plant and equipment, gross decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Motorola Solutions Inc. property, plant and equipment, net decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Motorola Solutions Inc., asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	66.28%	66.58%	64.40%	62.58%	60.30%
Estimated total useful life (years)	16	15	14	14	13
Estimated age, time elapsed since purchase (years)	11	10	9	9	8
Estimated remaining life (years)	5	5	5	5	5

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Motorola Solutions Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Motorola Solutions Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Motorola Solutions Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		Motorola Solutions Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	1,885)	1,837)	1,876)	1,699)	1,484)
Property, plant and equipment, gross	2,849)	2,764)	2,918)	2,721)	2,476)
Land	5)	5)	5)	6)	15)
Asset Age Ratio
Average age¹	66.28%	66.58%	64.40%	62.58%	60.30%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, gross – Land)
= 100 × 1,885 ÷ (2,849 – 5) = 66.28%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Motorola Solutions Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, gross	2,849)	2,764)	2,918)	2,721)	2,476)
Land	5)	5)	5)	6)	15)
Depreciation expense	179)	183)	202)	194)	186)
Asset Age Ratio (Years)
Estimated total useful life¹	16	15	14	14	13

2023 Calculations

¹ Estimated total useful life = (Property, plant and equipment, gross – Land) ÷ Depreciation expense
= (2,849 – 5) ÷ 179 = 16

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Motorola Solutions Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	1,885)	1,837)	1,876)	1,699)	1,484)
Depreciation expense	179)	183)	202)	194)	186)
Asset Age Ratio (Years)
Time elapsed since purchase¹	11	10	9	9	8

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 1,885 ÷ 179 = 11

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Motorola Solutions Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, net	964)	927)	1,042)	1,022)	992)
Land	5)	5)	5)	6)	15)
Depreciation expense	179)	183)	202)	194)	186)
Asset Age Ratio (Years)
Estimated remaining life¹	5	5	5	5	5

2023 Calculations

¹ Estimated remaining life = (Property, plant and equipment, net – Land) ÷ Depreciation expense
= (964 – 5) ÷ 179 = 5

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Asset age ratio	Description	The company
Estimated remaining life		Motorola Solutions Inc. estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Motorola Solutions Inc. (NYSE:MSI)

Analysis of Property, Plant and Equipment