Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Stock Information
Our Class A Common Stock is traded on the NASDAQ Stock Market, LLC under the symbol “ZBRA”.
As of February 4, 2021, the last reported price for the Company’s Class A Common Stock was $407.34 per share, and there were 103 registered stockholders of record for Zebra’s Class A Common Stock. The number of beneficial owners is substantially greater than the number of stockholders of record, because a large portion of our Class A common stock is transacted through banks and brokers.
Dividend Policy
Since our initial public offering in 1991, we have not declared any cash dividends or distributions on our capital stock. We currently do not anticipate paying any cash dividends in the foreseeable future.
Treasury Shares
The following table sets forth information with respect to repurchases of the Company’s common stock for the three months ended December 31, 2020.
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions) (1)
September 27, 2020 - October 24, 2020 — $ — — $ 753
October 25, 2020 - November 21, 2020 — — — 753
November 22, 2020 - December 31, 2020 — — — 753
Total — $ — — $ 753
(1) On July 30, 2019, the Company announced that its Board of Directors authorized a share repurchase program for up to an aggregate amount of $1 billion of its outstanding shares of common stock. Repurchases may be effected from time to time through open market purchases, including pursuant to a pre-set trading plan meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934. During the fourth quarter of 2020, the Company did not make any share repurchases under the program, which does not have a stated expiration date.
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Stock Performance Graph
The following graph compares the cumulative total stockholder return, calculated on a dividend-reinvested basis, in Zebra Technologies Corporation Class A Common Stock, the S&P 500 Index, S&P 500 Information Technology Index, RDG Technology Composite, and the NASDAQ Composite Market Index for the five years ended December 31, 2020. As a result of our joining the S&P 500, we have added the S&P 500 Index and S&P 500 Information Technology Index for 2020 in accordance with Regulation S-K and because we believe these are more relevant indexes. In future years, we will not use the RDG Technology Composite or the NASDAQ Composite Market Index. The comparison assumes that $100 was invested in each of the Company’s Class A Common Stock, the S&P 500 Index, S&P 500 Information Technology Index, RDG Technology Composite and the NASDAQ Composite Market Index as of the market close on December 31, 2015. Note that historic stock price performance is not necessarily indicative of future stock price performance.
Value at each year-end of $100 initial investment made on December 31, 2015
12/15 12/16 12/17 12/18 12/19 12/20
Zebra Technologies Corporation $ 100.00 $ 123.13 $ 149.03 $ 228.61 $ 366.75 $ 551.80
NASDAQ Composite $ 100.00 $ 108.87 $ 141.13 $ 137.12 $ 187.44 $ 271.64
S&P 500 $ 100.00 $ 111.96 $ 136.40 $ 130.42 $ 171.49 $ 203.04
RDG Technology Composite $ 100.00 $ 114.21 $ 156.95 $ 157.68 $ 231.96 $ 340.33
S&P 500 Information Technology $ 100.00 $ 113.85 $ 158.06 $ 157.60 $ 236.86 $ 340.83
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Item 6. Selected Financial Data
FIVE YEAR SUMMARY OF SELECTED CONSOLIDATED FINANCIAL DATA
(In millions, except shares and per share amounts)
Year Ended December 31,
Consolidated Statements of Operations (1)
2020 2019 2018 2017 2016
Net sales $ 4,448 $ 4,485 $ 4,218 $ 3,722 $ 3,574
Gross profit 2,003 2,100 1,981 1,710 1,642
Net income (loss) $ 504 $ 544 $ 421 $ 17 $ (137)
Basic earnings (loss) per share $ 9.43 $ 10.08 $ 7.86 $ 0.33 $ (2.65)
Diluted earnings (loss) per share $ 9.35 $ 9.97 $ 7.76 $ 0.32 $ (2.65)
Weighted average shares outstanding:
Basic 53,441,375 53,991,249 53,591,655 53,021,761 51,579,112
Diluted 53,913,245 54,594,417 54,299,812 53,688,832 51,579,112
December 31,
Consolidated Balance Sheets (1) (2)
2020 2019 2018 2017 2016
Cash and cash equivalents $ 168 $ 30 $ 44 $ 62 $ 156
Total Assets 5,375 4,711 4,339 4,275 4,632
Long-term liabilities 1,380 1,468 1,703 2,441 2,891
Total Stockholders’ Equity 2,144 1,839 1,335 834 792
(1) Includes the Reflexis, Cortexica, Profitect, Temptime and Xplore businesses, effective upon their respective dates of acquisition, which were as follows: Reflexis on September 1, 2020, Cortexica on November 5, 2019, Profitect on May 31, 2019, Temptime on February 21, 2019 and Xplore on August 14, 2018. See Note 5, Business Acquisitions in the Notes to Consolidated Financial Statements for further details related to these acquisitions.
(2) Effective January 1, 2019, the Company adopted Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”), which resulted in the recognition of right-of-use lease assets and lease liabilities for operating leases with terms greater than one year. The Company adopted ASC 842 under the modified retrospective approach, and therefore financial statements prior to 2019 were not affected by this standard. See Note 13, Leases in the Notes to Consolidated Financial Statements for additional information related to the Company’s leasing activities.
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