3M CO, 8-K filed on 12/22/2008
Current report filing
Consolidated Balance Sheets (USD $)
In Millions, except Share and Per Share data
Sep. 30, 2008
Dec. 31, 2007
Assets [Abstract]
 
 
Assets, Current [Abstract]
 
 
Cash and cash equivalents
$ 2,240 
$ 1,896 
Marketable Securities, Current
727 
579 
Accounts Receivable, Net, Current
3,763 
3,362 
Inventory, Net [Abstract]
 
 
Inventory, Finished Goods
1,513 
1,349 
Inventory, Work in Process
933 
880 
Inventory, Raw Materials and Supplies
632 
623 
Inventory, Net, Total
3,078 
2,852 
Other Assets, Current
980 
1,149 
Assets, Current, Total
10,788 
9,838 
Marketable Securities, Noncurrent
652 
480 
Long-term Investments
285 
298 
Property, Plant and Equipment, Gross
18,854 
18,390 
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment
(12,045)
(11,808)
Property, Plant and Equipment, Net, Total
6,809 
6,582 
Goodwill
5,573 
4,589 
Intangible Assets, Net (Excluding Goodwill)
1,263 
801 
Defined Benefit Plan, Noncurrent Assets for Plan Benefits
1,684 
1,378 
Other Assets, Noncurrent
555 
728 
Assets, Total
27,609 
24,694 
Liabilities and Stockholders' Equity [Abstract]
 
 
Liabilities [Abstract]
 
 
Liabilities, Current [Abstract]
 
 
Short-term Borrowings and Current Portion of Long-term Debt
2,257 
901 
Accounts Payable
1,557 
1,505 
Employee-related Liabilities
660 
580 
Accrued Income Taxes Payable
570 
543 
Other Liabilities, Current
1,964 
1,833 
Liabilities, Current, Total
7,008 
5,362 
Long-term Debt, Noncurrent
4,779 
4,019 
Other Liabilities, Noncurrent
3,621 
3,566 
Liabilities, Total
15,408 
12,947 
Commitments and Contingencies
 
 
Stockholders' Equity [Abstract]
 
 
Common Stock, Value
Common Stock, Par or Stated Value Per Share
0.01 
0.01 
Common Stock, Shares, Issued
944,033,056 
944,033,056 
Additional Paid in Capital, Common Stock
2,964 
2,785 
Retained Earnings (Accumulated Deficit)
22,070 
20,316 
Treasury Stock, Value
(11,717)
(10,520)
Treasury Stock, Shares
251,078,019 
234,877,025 
Unearned Compensation
(60)
(96)
Accumulated Other Comprehensive Income (Loss), Net of Tax
(1,065)
(747)
Stockholders' Equity, Total
12,201 
11,747 
Liabilities and Stockholders' Equity, Total
$ 27,609 
$ 24,694 
Consolidated Statements of Income (USD $)
In Millions, except Per Share data
3 Months Ended
Sep. 30, 2008
9 Months Ended
Sep. 30, 2008
3 Months Ended
Sep. 30, 2007
9 Months Ended
Sep. 30, 2007
Net Income (Loss) [Abstract]
 
 
 
 
Income (Loss) before Cumulative Effect of Change in Accounting Principle [Abstract]
 
 
 
 
Income (Loss) from Continuing Operations before Income Taxes, Minority Interest, and Income (Loss) from Equity Method Investments [Abstract]
 
 
 
 
Operating Income (Loss) [Abstract]
 
 
 
 
Sales Revenue, Net
$ 6,558 
$ 19,760 
$ 6,177 
$ 18,256 
Costs and Expenses [Abstract]
 
 
 
 
Cost of Revenue
3,432 
10,278 
3,240 
9,437 
Selling, General and Administrative Expense
1,269 
3,938 
1,174 
3,741 
Research, Development and Related Expenses
344 
1,058 
338 
1,009 
Disposal Group, Not Discontinued Operation, (Gain) Loss on Disposal
23 
(854)
Costs and Expenses, Total
5,045 
15,297 
4,752 
13,333 
Operating Income (Loss), Total
1,513 
4,463 
1,425 
4,923 
Nonoperating (Income) Expense [Abstract]
 
 
 
 
Interest and Debt Expense
52 
158 
53 
139 
Other Nonoperating Income
(28)
(76)
(37)
(94)
Nonoperating (Income) Expense, Total
24 
82 
16 
45 
Income (Loss) from Continuing Operations before Income Taxes, Minority Interest, and Income (Loss) from Equity Method Investments, Total
1,489 
4,381 
1,409 
4,878 
Income Tax Expense (Benefit)
479 
1,402 
433 
1,586 
Minority Interest in Net Income (Loss) of Consolidated Entities
19 
55 
16 
47 
Net Income (Loss), Total
991 
2,924 
960 
3,245 
Earnings Per Share [Abstract]
 
 
 
 
Earnings Per Share, Basic [Abstract]
 
 
 
 
Weighted Average Number of Shares Outstanding, Basic
695.5 
701.3 
714.5 
720.7 
Earnings Per Share, Basic, Total
1.43 
4.17 
1.34 
4.50 
Earnings Per Share, Diluted [Abstract]
 
 
 
 
Weighted Average Number of Diluted Shares Outstanding
703.1 
710.7 
729.9 
734.3 
Earnings Per Share, Diluted, Total
1.41 
4.11 
1.32 
4.42 
Common Stock, Dividends, Per Share, Cash Paid
0.5 
1.5 
0.48 
1.44 
Consolidated Statements of Cash Flows (USD $)
In Millions
9 Months Ended
Sep. 30,
2008
2007
Statement of Cash Flows [Abstract]
 
 
Cash and Cash Equivalents, Period Increase (Decrease) [Abstract]
 
 
Net Cash Provided by (Used in) Operating Activities [Abstract]
 
 
Net Income (Loss)
$ 2,924 
$ 3,245 
Adjustments for Noncash Items Included in Income (Loss) from Continuing Operations [Abstract]
 
 
Depreciation and Amortization
846 
796 
Pension and Other Postretirement Benefit Contributions
(342)
(373)
Pension and Other Postretirement Benefit Expense
77 
188 
Share-based Compensation
164 
182 
Disposal Group, Not Discontinued Operation, (Gain) Loss on Disposal
23 
(854)
Deferred Income Tax Expense (Benefit)
33 
(179)
Excess Tax Benefit from Share-based Compensation, Operating Activities
(21)
(65)
Increase (Decrease) in Operating Capital [Abstract]
 
 
(Increase) Decrease in Receivables
(369)
(458)
(Increase) Decrease in Inventories
(179)
(89)
Increase (Decrease) in Accounts Payable
(36)
60 
Increase (Decrease) in Accrued Income Taxes Payable
(73)
85 
Change in Product and Other Insurance Receivables and Claims
130 
145 
(Increase) Decrease in Other Operating Capital, Net
231 
36 
Net Cash Provided by (Used in) Operating Activities, Total
3,408 
2,719 
Net Cash Provided by (Used in) Investing Activities [Abstract]
 
 
Payments to Acquire Property, Plant, and Equipment
(1,008)
(1,031)
Proceeds from Sale of Productive Assets
80 
90 
Payments to Acquire Businesses, Net of Cash Acquired
(834)
(255)
Payments to Acquire Investments
(2,091)
(6,967)
Proceeds from Sale of Marketable Securities and Investments
1,239 
5,541 
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities
517 
547 
Proceeds from Divestiture of Businesses
88 
897 
Net Cash Provided by (Used in) Investing Activities, Total
(2,009)
(1,178)
Net Cash Provided by (Used in) Financing Activities [Abstract]
 
 
Proceeds from (Repayments of) Short-term Debt
1,562 
(144)
Repayments of Other Debt
(930)
(1,071)
Proceeds from Other Debt
862 
2,843 
Payments for Repurchase of Common Stock
(1,597)
(2,756)
Proceeds from Sale of Treasury Stock
257 
689 
Payments of Dividends, Common Stock
(1,052)
(1,039)
Payments of Dividends, Minority Interest
(23)
(20)
Excess Tax Benefit from Share-based Compensation, Financing Activities
21 
65 
Proceeds from (Payments for) Other Financing Activities
(3)
(4)
Net Cash Provided by (Used in) Financing Activities, Total
(903)
(1,437)
Effect of Exchange Rate on Cash and Cash Equivalents
(152)
124 
Cash and Cash Equivalents, Period Increase (Decrease)
344 
228 
Cash and Cash Equivalents, at Carrying Value, Beginning Balance
1,896 
1,447 
Cash and Cash Equivalents, at Carrying Value, Ending Balance
$ 2,240 
$ 1,675 
NonGaap - Document and Entity Information
9 Months Ended
Sep. 30, 2008
Document and Entity Information [Abstract]
 
Entity Registrant Name
3M COMPANY 
Entity Central Index Key
0000066740 
Document Type
10-Q 
Document Period End Date
09/30/2008 
Amendment Flag
FALSE 
Current Fiscal Year End Date
12/31 
Entity Well-known Seasoned Issuer
Yes 
Entity Voluntary Filers
No 
Entity Current Reporting Status
Yes 
Entity Filer Category
Large Accelerated Filer 
Entity Common Stock, Shares Outstanding
692,955,037