 |
Motorola Credit Corporation
Motorola Credit Corporation (MCC), the Company's wholly owned finance subsidiary, is engaged principally in financing long-term commercial receivables arising out of equipment sales made by the Company to customers throughout the United States and internationally.
MCC's interest revenue is included in the Company's consolidated net sales. Interest expense totaled $153 million in 2000, $72 million in 1999 and $37 million in 1998, and is included in manufacturing and other costs of sales.
|
Long-term finance receivables of $2.6 billion and $1.7 billion (net of allowance for losses on commercial receivables of $233 million and $292 million, respectively) at December 31, 2000
and 1999, respectively, are included in other assets. As of December 31, 2000, approximately $1.7 billion of the $2.8 billion in gross long-term finance receivables relates to one customer.
The company provides financing to customers in connection with equipment purchases and for working capital. At December 31, 2000, the Company had outstanding unfunded commitments of $494 million.
|
 |
|
|
required