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Greg Brown

Thanks, Tim. Good afternoon and thanks for joining us today.
I'm going to start off by sharing a few thoughts about the overall business, before Jason takes us through results and our outlook.
First, Q4 was another exceptional quarter. We achieved record revenue in both segments and all three technologies, including double-digit growth in Video and Command Center, highlighting the depth and breadth of our safety and security ecosystem that helps us protect people, property, and places.
Additionally, we generated Q4 record operating earnings in both segments and ended the year with record backlog of $14.7 billion, up $438 million, inclusive of $226 million of unfavorable currency rates.
Second, our full-year results were outstanding. In Products & SI, revenue was up 10%, driven by growth in both LMR and Video. We also expanded operating margins in the segment by 380 basis points, driven, in part, by continued favorable mix to our feature-rich devices and lower material costs.
In Software & Services, revenue was up 5% -- or 13%, excluding UK Home Office -- driven by strong growth and Video and Command Center and our LMR services businesses outside of the US. We also grew earnings per share, 16%; operating cash flow by 17%; and strengthened our safety and security offerings with four acquisitions in our Video and Command Center technologies.
Subsequent to quarter end, we announced that we've entered into a definitive agreement to acquire Theatro, a maker of AI and voice-powered communication and digital workflow software for frontline workers.
And, finally, as we enter 2025, the continued robust demand for our solutions, coupled with our record backlog and healthy balance sheet, positions us well for another year of strong revenue, earnings per share, and cash flow growth.
With that, I'll now turn the call over to Jason.

Jason Winkler

Thanks, Greg.
Revenue for the quarter grew 6% and was above our guidance, with growth in both segments and all three technologies. Revenue from acquisitions was $37 million and the impact of favorable foreign currency rates was $6 million.
GAAP operating earnings were $814 million, or 27% of sales, up from 25.9% in a year ago quarter, driven, primarily, by a recovery related to the Hytera litigation. Non-GAAP operating earnings were $916 million, up 5% from the year ago quarter. And non-GAAP operating margin was 30.4% versus 30.5% in the year ago quarter.
GAAP earnings per share was $3.56, up from $3.47 in the year ago quarter. Non-GAAP EPS was $4.04, up 4% from $3.90 last year, driven by higher sales and favorable mix.
OpEx in Q4 was $652 million, up $55 million versus the prior year, primarily due to higher employee incentives, investments in Video, and higher expenses from acquisitions.
For the full-year 2024, revenue was $10.8 billion, up 8%, with strong growth in both segments and across all three technologies. Revenue from acquisitions was $95 million and the impact of unfavorable foreign currency rates was $2 million.
GAAP operating earnings were $2.7 billion, or 24.8% of sales, versus 23% in the prior year. Non-GAAP operating earnings were $3.1 billion, up $358 million. And non-GAAP operating margins were 29% of sales, up from 27.9% of sales in the prior year, driven by higher sales, favorable mix, and lower direct material costs, partially offset by the Airwave Charge Control and the impact of acquisitions.
GAAP earnings per share was $9.23, down from $9.93 in the prior year, primarily due to the $3.42 per share pre-tax loss booked in Q1, related to the accounting treatment for the settlement of the Silver Lake convertible notes. Non-GAAP EPS was $13.84, up 16% from $11.95 in 2023, driven, primarily, by higher earnings.
For the full year, OpEx was $2.4 billion, up $197 million versus 2023, primarily driven by higher employee incentives, higher expenses associated with acquisitions, and higher legal costs inclusive of the CMA appeal.
And the effective tax rate, for 2024, was 22% compared to 21.9% in the prior year.
Turning the cash flow, Q4 operating cash flow was $1.1 billion, down from $1.2 billion in the prior year, as the linearity of cash generation improved and resulted in full-year record operating cash flow of $2.4 billion and record free cash flow of $2.1 billion. The 17% year-over-year operating cash flow increase was driven by higher earnings. And marks the second consecutive year of double-digit operating cash flow growth.
Capital allocation in '24 included $654 million in dividends, $282 million for acquisitions, $244 million in share repurchases, and $257 million of CapEx. We also used $593 million of cash to settle the Silver Lake convertible premium in Q1. And increased our dividend by 11% in November, which was our fourteenth consecutive year of double-digit increases.
Moving to segment results in Products.
Q4 sales were up 3% versus last year, driven by growth in LMR and Video. Revenue from acquisitions was $11 million in the quarter, while the impact of favorable foreign currency rates was $1 million. Operating earnings were $594 million, or 30.5% of sales, up from 30% in the prior year, driven by higher sales, favorable mix, and lower direct material costs.
Some notable wins and achievements, in this segment, include a $53 million P25 device order from a US state and local customer; a $52 million P25 system and device order for a Canadian customer; a $36 million P25 device order for Broward Sheriff's Office in Florida; a $33 million P25 system order from the Kentucky State Police; a $32 million P25 device order for the City of Phoenix Police & Fire; and a $16 million fixed video order for Duke Energy.
And for the full year, Products & SI revenue was $6.9 billion, up 10% from the prior year, driven by higher sales and LMR and Video. Revenue from acquisitions was $43 million and the impact of unfavorable foreign currency rates was $2 million. Full-year operating earnings were $1.9 billion, or 28.1% of sales, up from 24.3% in the prior year, on higher sales, favorable mix, and lower direct material costs.
In Software & Services, Q4 revenue was up 11%, driven by growth in all three technologies. Revenue from acquisitions was $26 million, while the impact of favorable foreign currency rates was $5 million. Q4 operating earnings, in this segment, were $322 million. And operating margins were 30.3% of sales, down from 31.6% last year, primarily driven by acquisitions.
Some notable Q4 highlights, in this segment, include a $329 million ten-year services renewal for Melbourne, Australia's LMR network; a $160 million five-year LMR-managed services renewal from Norway's nationwide public safety network; a $68 million LMR services order for a US state and local customer; a $40 million Command Center order from the Scottish Fire Service; and, finally, a $16 million fixed video order for the São Paulo State Government in Brazil.
For the full-year, S&S revenue was $3.9 billion, up 5% compared to last year.
When excluding the UK Home Office, revenue grew 13%, with the growth in all three technologies. Revenue from acquisitions was $52 million, during the year. Full-year operating earnings were $1.2 billion, or 30.8% of sales, down 310 basis points versus the prior year, driven by the Airwave Charge Control and higher expenses associated with acquired businesses during the year.
Looking at regional results, North America revenue was $2.2 billion in Q4, up 9%; and 7.8 billion for the full year, up 13%, driven by growth in both segments and in all three technologies.
International Q4 revenue was $807 million, down 3% versus last year, primarily driven by lower Ukraine revenue, in the current year, and our exit from ESN, which was in the year ago quarter -- offset by growth in Video and Command Center.
For the full year, international revenue was $3 billion, down 2%. Excluding the UK Home Office, international revenue was up mid-single digits, driven by growth in all three technologies.
Moving, next, to backlog, ending backlog for Q4 was $14.7 billion, up $438 million versus last year, inclusive of $226 million of foreign currency headwinds. Sequentially, backlog was up $602 million, inclusive of $319 million of foreign currency headwinds.
And in the Products & SI segment, ending backlog was down $858 million, driven, primarily, by strong LMR shipments during the year. Sequentially, backlog was down $46 million, primarily driven by unfavorable FXs.
In Software & Services, backlog increased $1.3 billion from last year and $648 million sequentially. The growth was driven by strong demand in all three technologies, inclusive of foreign currency headwinds of $195 million year over year and $281 million sequentially.
Turning, next, to our outlook, we expect Q1 sales to be up between 5% and 5.5%, with non-GAAP EPS between $2.98 and $3.03 per share. This assumes approximately $25 million in foreign exchange headwinds, $171 million diluted shares, and a non-GAAP effective tax rate of approximately 21%.
And for the full year, we expect revenue growth of approximately 5.5%, inclusive of our expectations for $120 million of FX headwinds, driven by the US dollar strength over the last few months. And for non-GAAP earnings per share, between $14.64 and $14.74 per share.
The full-year outlook also assumes 171 million shares and a non-GAAP effective tax rate of approximately 23%. Additionally, the outlook assumes tariff rates that are in effect, today.
And, finally, with respect to cash flow, we expect to generate $2.7 billion in [OCF], which we would expect make 2025 our third consecutive year of double-digit operating cash flow growth.
Before I turn it over to Greg, I wanted to share just a few other things.
First, with the UK Home Office headwinds behind us, on a full-year basis, and the strong momentum we are seeing in cloud adoption and SaaS, we expect our S&S segment growth to be high-single digits or double digits, where, normalized for FX.
And on the Product segment, we are expecting low- to mid-single-digit growth coming off a record 2024.
Secondly, I would provide you with some color on the technology growth expectations as well.
In Video, we're planning for another strong year of approximately 10% to 12% growth, inclusive of the increased cloud adoption we're seeing from our customers. In Command Center, we're planning for 12% growth, driven, in part, by continued strong adoption for our SaaS offerings there. And in LMR, we expect low- to mid-single-digit growth, inclusive of the majority of the FX headwinds that I mentioned earlier.
And, finally, I'd highlight the strength of our balance sheet, which includes over $2 billion in cash at year end, a fixed rate debt maturity profile with no significant maturities until 2028, and a solid investment grade credit rating. All of which gives us significant flexibility in capital allocation.
Greg, I'd like to turn it back to you.

Greg Brown

Thanks, Jason. And let me just end with some final thoughts.
First, 2024 was another exceptional year for the company. We achieved record sales in both segments in all three technologies; significantly expanded operating margins; grew EPS by 16%; generated record operating cash flow of $2.4 billion, up 17% from the prior year; and we also returned almost $1.5 billion to our shareholders through dividends, share repurchases; and the settlement of the Silver Lake convertible note, at less than $320 a share; and we added four acquisitions within our Video and Command Center technologies.
Second, the investments we're making in Software & Services continue to drive strong recurring revenue growth for the company. Software & Services' revenue was up 13% during the year, excluding UK Home Office, driven, in part, by accelerating demand for our software solutions in Command Center, Video, and our suite of applications running on our APX NEXT family of devices.
We also finished the year with S&S backlog of $10.6 billion, up 14%, including record backlog in all three technologies, which is informing our guide for another strong year of growth in 2025.
And, finally, as we enter this year, we're very well positioned for another outstanding year. Our customers are continuing to invest in LMR for the long term, highlighted by the numerous large multi-year contracts that we received over the last year.
We're also seeing strong interest in our latest generation [B-series] ASTRO infrastructure, which is creating a healthy pipeline of upgrade opportunities and is a further testament to the foundational longevity of this technology.
And, additionally, the upgrade cycle to our APX NEXT family of devices continues to drive product and recurring revenue growth via the applications that are on each device.
And in Video and Command Center, we continue to see robust demand and are expecting another year of double-digit growth in both of those technologies as well.
Finally, our healthy cash generation and strong balance sheet with a net debt-to-EBITDA ratio of 1.1 -- probably the lowest we've seen in almost a decade -- provides us with significant flexibility to deploy capital opportunistically and drive value for our shareholders in our total addressable market, which is, now, approximately 72 billion.
So, now, I'll give the call back to Tim. And we can take your questions.

Tim Yocum

Thank you, Greg.
Before we begin taking questions, I'd like to remind callers to limit themselves to one question, one follow-up to accommodate as many participants as possible.
Operator, would you please remind our callers, online, how to ask a question?

Question and Answer Session

Operator

(Operator Instructions)
Tim Long, Barclays.

Alyssa Shreves

Hi. This is Alyssa, on for Tim.
I just wanted to quickly touch base on -- with all the recent Trump administration federal spending shifts and DOGE, are you, guys, seeing any impact, in terms of customer behavior or timing of deployment?
And I have one follow-up to that.

Greg Brown

No, we're not. I think that -- my view and our view of DOGE -- we like the opportunity where the government is deploying that organization to get after frivolous and wasteful spending, which, I think, is a good thing, overall.
But, in direct answer to your question, we're not seeing any changes in customer behavior as a result of that effort, at this point in time.

Alyssa Shreves

Okay. That's helpful.
And then, just want to follow up on the Video piece. Given the 10% to 12% is inclusive of customers' move to the cloud, how should we think about if there wasn't a move to the cloud, would the growth be a point or two higher? If we didn't count those headwinds of customers moved to the cloud?
How should we think about the growth rate for Video, with the move to cloud?

Greg Brown

We love the fact that customers are moving to the cloud. We offer solutions for both Prem and cloud.
We talked about it, last year, that there was a pretty good acceleration to the cloud. We are seeing a continuation of that, which is a good thing.
And we love the fact that we're still able to grow double digits, 10% to 12%, even with the cloud adoption. Which, of course, smooths out revenue [rep].
So we see it as a favorable trend. We like the continued momentum. And we think we're well positioned.

Jason Winkler

And the cloud adoption continues in other parts of the portfolio (multiple speakers) Command Center and the work that Mahesh has done there.
And with the further integration of Video and Command Center and the likes, we view that the cloud adoption of our customers to be a strength indicator across, really, the entire platform.

Alyssa Shreves

Thank you.

Operator

Meta Marshall, Morgan Stanley.

Hi. This is [Mary], for Meta.
Another question on federal. What are you seeing in terms of the federal budget approval? And any upside from immigration efforts? And any expectation of Ukraine revenue, in this year?

Greg Brown

By the way, just as it relates to Ukraine, really, no revenue expectation for this year. We had about $80 million last year so we don't have expectations for, really, any Ukrainian revenue, at this point, in 2025.

Jason Winkler

Most of the Ukraine revenues were in PCR.

Greg Brown

That's true.

Jason Winkler

And, [Mary], most of our engagement with the federal government is DOJ, DHS, and DOD. And, I would say, DOD -- it's base security (inaudible) enterprise security at base security operations.
Multi-year pipeline, we've got P25, both systems and device opportunities. I think it's important to highlight that, yesterday, we were given go-ahead and FedRAMP high classification, which enables us to sell APX NEXT -- our application services on APX NEXT.
We're excited about that because, actually, that'll open up incremental opportunities to sell high-tier devices into said agencies.
And then the last thing I'd highlight is Video engagement. Government has outpaced video security growth for the company and federal government has certainly been an area of brightness for us. And I think the engagement with our customers, with the new administration, continues to look very positive.
And if you think about Video, all-in for us, it was a little over $550 million last year in the government vertical. The government vertical remains our largest for Video. And we expect in 2025, all-in video growth to grow faster than the 10% to 12%, for the technology as a whole.

Great. Thank you.

Operator

Joseph Cardoso, J.P. Morgan.

Joseph Lima Cardoso

Hey. Thanks for the question.
Maybe just wanted to follow up on that last one and just -- maybe it's more of a clarification. But, Greg, we saw some interviews, towards the end of the year, where, essentially, post the election, you're sounding a little bit more positive about the operating environment, highlighting some of the topics and focus around police and border patrol, obviously.
And, obviously, we see the rhetoric out there. But just curious, could you just dimensionalize like how tangible this is, today, in terms of, potentially, upside to spending across some of those areas of focus? And if you're actually seeing it in orders or, at least, is there any early discussions with customers that is tied into that upside, around that?
And then, I have a quick follow-up for Jason.

Greg Brown

Sure, Jo.
So let's start with -- since we last talked in November and I gave high level color, of 5% to 6%, all-in for the firm.
We got it, obviously, at 5.5%. But when you incorporate the expectations for $120 million of FX, it's actually a stronger view, today, in February than I had in 2025 that I had in in November.
So I think, also, the positive feeling about the year is informed, not just by the record backlog but by the pipeline. The pipeline continues to grow. So with the pipeline growing and the setup for this year, I feel pretty good about where we are.
I think that, in addition to growing the top line 5.5%, absorbing expectations for FX, we expect gross margins to be comparable to slightly up. We still expect operating margin expansion -- that's inclusive of about $25 million of headwind associated with higher interest and a little bit of a higher tax rate.
So, all-in, Jo, I like the setup. I think the Trump administration's continued orientation around public safety, around border security, and the work they've done, tactically, since then -- since election -- and to now is generally favorable.
And they're looking - I got an earlier question about DOGE -- about efficiencies and work flow. And a lot of what we do in public safety and security speaks to workflow efficiencies and doing more with less.
So I feel good about where we are. And we'll operate accordingly with this administration.

Joseph Lima Cardoso

That's great, Greg. Thank you for the insights there.
And then, just a quick one for Jason, on the tariffs. Can you just quantify how much of a headwind you're embedding from a tariff impact? And then, the second part of that is any way you can help us think about if you're more biased to any of the particular regions that are under the scope, here?

Jason Winkler

Sure. Thanks.
Clearly, supply chain is an ever-changing environment -- having tackled semiconductor challenges over the last two years, now, it's tariffs.
We like our footprint -- the flexibility of it -- and where we're positioned. Outside the USA, we're in Mexico, Malaysia, and then, Canada, in that order.
China is not a risk for us. The 301 Tariffs, we've navigated with minimal impact because we don't have operations or manufacturing there.
So, as we look forward, the guide we gave is reflective of the tariff rates that we're paying, today. We'll continue to monitor and navigate, with flexibility, in the footprint we have and ROI-based decisions, with facts on the ground, as they present themselves.
So we'll continue to be nimble in that regard

Greg Brown

And Jo, just an adder, even though it's a tariff/supply chain question.
Jason's team and Chad Werkema did a great job over the last year or two. We did end up benefiting $65 million to $70 million of PPV benefit, which we said we would achieve last year.
Baked into the forward-looking guidance for this year, we're expecting a PPV benefit of about $25 million. That would help you dimensionalize the current trend, in that regard.

Joseph Lima Cardoso

Got it, guys. Thank you for all the color. Appreciate it.

Operator

Keith Housman, Northcoast Research.

Keith Michael Housum

Good afternoon, guys.
Hopefully, you know Jason, are -- can you, guys, unpack the Theatro acquisition a little bit more for us, in terms of what it brings to the table, in terms of its capabilities? And how you plan on, expanding the business, from here?

Jason Winkler

Keith, in terms of revenue contributions, we expect it to close this year. It'll be pretty small. And we will record it. And it'll be part of our Command Center offer.
We're really excited about the technology that it represents. And I think Mahesh is best positioned to give you some insights as to why.

Mahesh Saptharishi

It's -- for frontline workers, 'eyes up, hands free' is important. But they would like to benefit from AI as well.
And audio ends up being a very significant interface into AI and Theatro has an entire solution that is turnkey, today, specifically optimized for frontline worker workflows.
They're very strong in retail. And we feel like we can expand them into other markets as well. So we're pretty excited.

Keith Michael Housum

Great. Appreciate it.
And if I can just expand, Jason, on the tariff question from before? I know your commentary was that tariffs are in place, today. But it sounds like Canadian and Mexico tariffs could [come] here, really quick.
Is it possible to give some context of what that, perhaps, would mean for you, guys?

Jason Winkler

I think, with the flexible footprint, Keith, we would, first of all, need to understand what the tariffs are. We're working through that. As well as what, where, and how we would switch positioning.
So the tariffs that have been discussed, we're working through them. In terms of what's in our guide, it's the tariffs that are in effect, right now. And, as early as today, there was mention of more.
We'll continue to work through those and see what options we have to navigate the footprint we have. As you know, we use a global manufacturing footprint, across EMSs, that can afford us flexibility, could take some investment, could take a little time, but we'll continue to monitor this.
But what's reflected now is what's in paper, right now.

Keith Michael Housum

Okay. Thank you.

Operator

(Operator Instructions)
Louis de Palma, William Blair.

Louis de Palma

Greg, Jason, Jack, Mahesh, and Tim, good afternoon.

Greg Brown

Hey, Louis, how are you?

Louis de Palma

Doing well.
There's been a lot of questions on DOGE, which relates to federal spending and efficiency. But I was wondering how is the local and state spending environment, right now, in the US?
I think it was a year or two years ago, you said it was the strongest spending environment that you've ever seen, Greg. But how do you categorize it, now, two years later?

Jack Molloy

Hey, Louis. It's Jack.
First of all, I think the most important point here is what's happening in urban American cities across the country. Public safety technology continues to get prioritized. So that's the overarching narrative.
As it applies to funding, it's still a very good, I'd say, it's a great funding environment. Because, if you think about it, local revenues, essentially, come from income, sales and property taxes. There's been a tailwind. And, actually, inflation has put more money into state and local coffers, as it relates to that.
In addition, 911 funding, the environment is strong there. So 2025 used to be, historically, and I've been doing business in state and local for 25 years, it's as good as an environment as Greg articulated two years ago.

Greg Brown

I agree.

Jack Molloy

And I think the point is we look at a lot of things. Our pipeline, as Jason and Greg indicated, continues to be strong. But we're also looking at bottom-of-funnel things ,quoting an activity which is up substantially year over year. And I think that's a measure, not only of sales activity but customer demand and what they need to keep their municipality safe.

Louis de Palma

Thanks, Jack.
And on several earnings calls and fireside chats, Mahesh, you have discussed Motorola's robust investments in AI for, like, video preventive alerts and 911 transcription and many other applications.
I was wondering the LMR side , Apple has launched Apple Intelligence at the edge, does Motorola have plans to also bring AI apps to your edge radios, beyond what you already have? Is that a big focus area for the company?

Mahesh Saptharishi

If I, maybe, take a step back there, Louis -- today, like -- you take a generative AI model, a large language model of some sort, you can get it to summarize, you can chat with it, et cetera. It's pretty easy to implement those capabilities.
But taking it to the mission critical problems that is quite different -- and it's much harder, specifically because you are not catering to the typical circumstances, you're actually catering to the somewhat typical and atypical circumstances. And, oftentimes, those atypical circumstances are actually the life critical problems that we deal with.
When it comes to AI, for us, we actually already played not just in the cloud, but also at the edge. The majority of our Video platforms today, over 90% of our cameras, actually have edge intelligence built into them.
Most of them run vision transformers and other AI technologies, both to -- mainly for computer vision type of applications.
So as we think about what we do on the radio side, we introduced ViQi quite a few years ago, along with APX NEXT. And we feel like that, combined with generative AI capabilities, gets us more capabilities. We are thinking about that and we are planning for it.
Audio quality ends up being a very significant part of it. And that, we believe, is a significant strength of APX NEXT and our radio products, as a whole.
So there's a lot to be excited about that.

Louis de Palma

Great.
And are you using AI to improve the existing high-audio quality of your LMR network?

Mahesh Saptharishi

We use AI, actively, for background noise cancellation. And we also use it to improve the audio codec itself. Along with a beam steering for the multiple microphones we have on our RSMs.

Louis de Palma

Excellent. Thanks. That's exactly what I was looking for. Thanks, Mahesh.

Operator

Tomer Zilberman, Bank of America.

Tomer Zilberman

Hey, guys. Sorry I joined a little bit late. So apologies if these questions have already been asked.
But looking at the P&L, looks like the product portion of your video security business actually picked up this quarter. I just wanted to see what the trends were, there, specifically around video security products?

Jason Winkler

So you're picking up on it, right? It did grow in Q4. And, as we mentioned last quarter, the solution in Video is not only products but also software.
And the software rate of growth, within Video, has, for the entirety of '24, grew faster than that of products.
So the product growth, we're pleased with, in Q4, represents a bit more cameras and contribution towards products. And the software that's embedded with them, follows.

Tomer Zilberman

Understood.
And, maybe, as a follow-up, asking about backlog. More philosophically, where do you think the product portion of your backlog, not where it ends up this year, but going forward over the next few years, do you get back to a roughly $3 billion historical level? Or because there's an increased video security portion, does that have elevated levels versus historical?

Jason Winkler

Well, the video part of our business, which is growing, and we expect, this year, to be over $2 billion, is largely a quick-turn business and doesn't come from backlog.
So that is changing the mix of what we would expect to do. But, I think, stepping back, demand continues to be strong. It's reflective in not only our backlog position, but also a growing pipeline.
And this quick-turner, in your orders, is something that, in any year, is important to be a contributor to our outlook expectations.
So it's both backlog and pipeline.

Greg Brown

Exactly.

Tomer Zilberman

Understood. Thank you very much.

Greg Brown

Thanks, Tomer.

Operator

This concludes our question-and-answer session.
I will now turn the floor over to Mr. Greg Brown, Chairman and Chief Executive Officer, for any additional comments or closing remarks.

Greg Brown

I just want to say thank you to all the people and the partners in Motorola Solutions that made this past year a great year. I appreciate everything you do.
As importantly or more importantly, I appreciate what you continue to do, as we start this year with a growing pipeline, a strong balance sheet, and operating a company where safety and security remains prioritized with a lot of our end-user customers.
And I think that informs our excitement about the year, informs our prudent guide. And it leads me to anticipate another year of record revenue, of record earnings.
And I love the fact that we're set up and we expect a third consecutive year of double-digit operating cash flow.
I also do want to point out and thank all the people associated with the LA fires and the terrorist attack in New Orleans. By the way, there's some employees that were impacted, within our company, by those tragedies. But every single time something like that occurs, inevitably, I hear from Jack and the team about countless examples of selfless employees who go above and beyond and I'm reminded around the criticality of the solutions that we sell, in all things public safety and mission critical communications.
And I appreciate that.
Thank you for joining us, today. I look forward to talking to you all, again, with our team in May.
And I appreciate you. Thanks.

Operator

This does conclude today's teleconference.
A replay of this call will be available, over the internet, within three hours. The website address is www.motorolasolutions.com/investor.
We thank you for your participation and ask that you please disconnect your lines, at this time.