Company Quick10K Filing
Zebra Technologies
Price207.95 EPS7
Shares55 P/E30
MCap11,362 P/FCF27
Net Debt1,495 EBIT425
TEV12,857 TEV/EBIT30
TTM 2019-09-28, in MM, except price, ratios
10-Q 2020-06-27 Filed 2020-07-28
10-Q 2020-03-28 Filed 2020-04-28
10-K 2019-12-31 Filed 2020-02-13
10-Q 2019-09-28 Filed 2019-10-30
10-Q 2019-06-29 Filed 2019-07-30
10-Q 2019-03-30 Filed 2019-04-30
10-K 2018-12-31 Filed 2019-02-14
10-Q 2018-09-29 Filed 2018-11-06
10-Q 2018-06-30 Filed 2018-08-07
10-Q 2018-03-31 Filed 2018-05-08
10-K 2017-12-31 Filed 2018-02-22
10-Q 2017-09-30 Filed 2017-11-07
10-Q 2017-07-01 Filed 2017-08-08
10-Q 2017-04-01 Filed 2017-05-09
10-K 2016-12-31 Filed 2017-02-27
10-Q 2016-10-01 Filed 2016-11-15
10-Q 2016-07-02 Filed 2016-08-09
10-Q 2016-04-02 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-02-29
10-Q 2015-10-03 Filed 2015-11-12
10-Q 2015-07-04 Filed 2015-08-13
10-Q 2015-04-04 Filed 2015-05-14
10-K 2014-12-31 Filed 2015-03-17
10-Q 2014-09-27 Filed 2014-11-05
10-Q 2014-06-28 Filed 2014-08-05
10-Q 2014-03-29 Filed 2014-05-06
10-K 2013-12-31 Filed 2014-02-20
10-Q 2013-09-28 Filed 2013-11-05
10-Q 2013-06-29 Filed 2013-08-06
10-Q 2013-03-30 Filed 2013-05-02
10-K 2012-12-31 Filed 2013-02-21
10-Q 2012-09-29 Filed 2012-11-07
10-Q 2012-06-30 Filed 2012-08-01
10-Q 2012-03-31 Filed 2012-05-02
10-Q 2011-10-01 Filed 2011-11-08
10-Q 2011-07-02 Filed 2011-08-05
10-Q 2011-04-02 Filed 2011-05-05
10-K 2010-12-31 Filed 2011-02-24
10-Q 2010-10-02 Filed 2010-11-05
10-Q 2010-07-03 Filed 2010-08-05
10-Q 2010-04-03 Filed 2010-05-06
10-K 2009-12-31 Filed 2010-02-23
8-K 2020-07-28 Earnings, Other Events, Exhibits
8-K 2020-05-14
8-K 2020-04-29
8-K 2020-04-28
8-K 2020-03-23
8-K 2020-02-13
8-K 2019-11-01
8-K 2019-10-29
8-K 2019-09-17
8-K 2019-08-09
8-K 2019-07-30
8-K 2019-05-16
8-K 2019-04-30
8-K 2019-02-14
8-K 2018-12-20
8-K 2018-11-06
8-K 2018-08-07
8-K 2018-05-31
8-K 2018-05-17
8-K 2018-05-08
8-K 2018-02-22

ZBRA 10Q Quarterly Report

Part I - Financial Information
Item 1.Consolidated Financial Statements
Note 1 Description of Business and Basis of Presentation
Note 2 Significant Accounting Policies
Note 3 Revenues
Note 4 Inventories
Note 5 Investments
Note 6 Exit and Restructuring Costs
Note 7 Fair Value Measurements
Note 8 Derivative Instruments
Note 9 Long - Term Debt
Note 10 Commitments and Contingencies
Note 11 Share - Based Compensation
Note 12 Income Taxes
Note 13 Earnings per Share
Note 14 Accumulated Other Comprehensive Income (Loss)
Note 15 Accounts Receivable Factoring
Note 16 Segment Information & Geographic Data
Note 17 Subsequent Event
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3.Quantitative and Qualitative Disclosures About Market Risk
Item 4.Controls and Procedures
Part II - Other Information
Item 1.Legal Proceedings
Item 1A.Risk Factors
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds
Item 6.Exhibits
EX-10.1 ex101-2020pvrsagreement.htm
EX-10.2 ex102-2020saragreement.htm
EX-10.3 ex103-2020tvrsagreement.htm
EX-10.4 ex104-2020gustafssonpv.htm
EX-10.5 ex105-2020gustafssonsa.htm
EX-10.6 ex106-2020gustafssontv.htm
EX-10.7 ex107-zebraxmasterframew.htm
EX-10.8 ex108-zebraxenglish53f.htm
EX-10.9 ex109-singaporerpa.htm
EX-31.1 a311exhibit-signedq220.htm
EX-31.2 a312exhibit-signedq220.htm
EX-32.1 a321exhibit-signedq220.htm
EX-32.2 a322exhibit-signedq220.htm

Zebra Technologies Earnings 2020-06-27

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
1.20.90.70.40.2-0.12012201420172020
Rev, G Profit, Net Income
3.22.00.7-0.5-1.8-3.02012201420172020
Ops, Inv, Fin

zbra-20200627
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 27, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
    
For the transition period from                                          to                                         
Commission File Number: 000-19406
Zebra Technologies Corporation
(Exact name of registrant as specified in its charter)
Delaware36-2675536
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
3 Overlook Point, Lincolnshire, IL 60069
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (847634-6700
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of exchange on which registered
Class A Common Stock, par value $.01 per shareZBRAThe NASDAQ Stock Market, LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes       No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
 Large accelerated filerAccelerated filer
 Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes     No  


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As of July 21, 2020, there were 53,339,844 shares of Class A Common Stock, $.01 par value, outstanding.


Table of Contents
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
QUARTER ENDED JUNE 27, 2020
TABLE OF CONTENTS
 
  PAGE
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 6.
3

Table of Contents
PART I - FINANCIAL INFORMATION
 
Item 1.Consolidated Financial Statements
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
June 27,
2020
December 31,
2019
 (Unaudited)
Assets
Current assets:
Cash and cash equivalents$63  $30  
Accounts receivable, net of allowances for doubtful accounts of $2 million as of June 27, 2020 and December 31, 2019, respectively
406  613  
Inventories, net513  474  
Income tax receivable52  32  
Prepaid expenses and other current assets60  46  
Total Current assets1,094  1,195  
Property, plant and equipment, net252  259  
Right-of-use lease assets109  107  
Goodwill2,621  2,622  
Other intangibles, net242  275  
Deferred income taxes123  127  
Other long-term assets166  126  
Total Assets$4,607  $4,711  
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt$233  $197  
Accounts payable503  552  
Accrued liabilities369  379  
Deferred revenue273  238  
Income taxes payable11  38  
Total Current liabilities1,389  1,404  
Long-term debt986  1,080  
Long-term lease liabilities105  100  
Long-term deferred revenue232  221  
Other long-term liabilities92  67  
Total Liabilities2,804  2,872  
Stockholders’ Equity:
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued
    
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares
1  1  
Additional paid-in capital350  339  
Treasury stock at cost, 18,828,806 and 18,148,925 shares as of June 27, 2020 and December 31, 2019, respectively
(911) (689) 
Retained earnings2,421  2,232  
Accumulated other comprehensive loss(58) (44) 
Total Stockholders’ Equity1,803  1,839  
Total Liabilities and Stockholders’ Equity$4,607  $4,711  
See accompanying Notes to Consolidated Financial Statements.
4

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ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share data)
(Unaudited)
 
 Three Months EndedSix Months Ended
 June 27,
2020
June 29,
2019
June 27,
2020
June 29,
2019
Net sales:
Tangible products$811  $963  $1,712  $1,887  
Services and software145  134  296  276  
Total Net sales956  1,097  2,008  2,163  
Cost of sales:
Tangible products451  488  937  959  
Services and software86  89  179  183  
Total Cost of sales537  577  1,116  1,142  
Gross profit419  520  892  1,021  
Operating expenses:
Selling and marketing109  127  231  249  
Research and development98  108  203  219  
General and administrative74  90  148  166  
Amortization of intangible assets16  30  32  58  
Acquisition and integration costs1  4  2  8  
Exit and restructuring costs2  1  6  2  
Total Operating expenses300  360  622  702  
Operating income119  160  270  319  
Other expenses:
Foreign exchange loss(9) (1) (12) (4) 
Interest expense, net(14) (33) (59) (57) 
Other, net7  3  7  2  
Total Other expenses, net(16) (31) (64) (59) 
Income before income tax 103  129  206  260  
Income tax expense3  5  17  21  
Net income$100  $124  $189  $239  
Basic earnings per share$1.87  $2.28  $3.53  $4.43  
Diluted earnings per share$1.85  $2.26  $3.49  $4.37  
See accompanying Notes to Consolidated Financial Statements.
5

Table of Contents
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)
(Unaudited)
 Three Months EndedSix Months Ended
 June 27,
2020
June 29,
2019
June 27,
2020
June 29,
2019
Net income$100  $124  $189  $239  
Other comprehensive (loss) income, net of tax:
Changes in unrealized gains and losses on anticipated sales hedging transactions(8) (12) (6) (8) 
Changes in unrealized gains and losses on forward interest rate swap hedging transactions  1    1  
Foreign currency translation adjustment1  2  (8) 2  
Comprehensive income$93  $115  $175  $234  
See accompanying Notes to Consolidated Financial Statements.
6

Table of Contents
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In millions, except share data)
(Unaudited)

Class A Common Stock SharesClass A Common Stock ValueAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
Balance at December 31, 201954,002,932  $1  $339  $(689) $2,232  $(44) $1,839  
Issuances of treasury shares related to share based-compensation plans, net of forfeitures15,792  —  —  —  —  —  —  
Shares withheld to fund withholding tax obligations related to share-based compensation plans(4,361) —  —  (1) —  —  (1) 
Share-based compensation—  —  7  —  —  —  7  
Repurchases of common stock(948,740) —  —  (200) —  —  (200) 
Net income—  —  —  —  89  —  89  
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)—  —  —  —  —  2  2  
Foreign currency translation adjustment—  —  —  —  —  (9) (9) 
Balance at March 28, 202053,065,623  $1  $346  $(890) $2,321  $(51) $1,727  
Issuances of treasury shares related to share based-compensation plans, net of forfeitures399,634  —  (9) 13  —  —  4  
Shares withheld to fund withholding tax obligations related to share-based compensation plans(142,206) —  —  (34) —  —  (34) 
Share-based compensation—  —  13  —  —  —  13  
Net income—  —  —  —  100  —  100  
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)—  —  —  —  —  (8) (8) 
Foreign currency translation adjustment—  —  —  —  —  1  1  
Balance at June 27, 202053,323,051  $1  $350  $(911) $2,421  $(58) $1,803  




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ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In millions, except share data)
(Unaudited)

Class A Common Stock SharesClass A Common Stock ValueAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
Balance at December 31, 201853,871,184  $1  $294  $(613) $1,688  $(35) $1,335  
Issuances of treasury shares related to share based-compensation plans, net of forfeitures110,382  —  1  3  —  —  4  
Shares withheld to fund withholding tax obligations related to share-based compensation plans(5,829) —  —  (1) —  —  (1) 
Share-based compensation—  —  10  —  —  —  10  
Net income—  —  —  —  115  —  115  
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)—  —  —  —  —  4  4  
Balance at March 30, 201953,975,737  $1  $305  $(611) $1,803  $(31) $1,467  
Issuances of treasury shares related to share based-compensation plans, net of forfeitures345,067  —  (5) 9  —  —  4  
Shares withheld to fund withholding tax obligations related to share-based compensation plans(212,975) —  —  (41) —  —  (41) 
Share-based compensation—  —  14  —  —  —  14  
Net income—  —  —  —  124  —  124  
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)—  —  —  —  —  (12) (12) 
Changes in unrealized gains and losses on forward interest rate swap hedging transactions (net of income taxes)—  —  —  —  —  1  1  
Foreign currency translation adjustment—  —  —  —  —  2  2  
Balance at June 29, 201954,107,829  $1  $314  $(643) $1,927  $(40) $1,559  

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ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES