SCHAUMBURG, Ill.-Motorola Inc. said it moved $3 billion of cash from overseas to the United States, raising the amount of money the company has here to $4.2 billion.
Motorola said the tax cost associated with the move will be about $50 million, and it will have no impact on the company’s earnings for the third quarter.
At the end of the second quarter of this year, Motorola had $6.5 billion in cash, cash equivalents and short-term investments. The company said it will report a similar amount for the third quarter.
Motorola’s stock dropped slightly after the news to about $9 per share.
