3M CO, 8-K filed on 11/20/2007
Current report filing
Income Statement
|
Statement of Financial Position
|
Statement of Cash Flows
|
Cash Flow from Operations -...
Income Statement
(USD $)
3 Months Ended
Sep. 30, 2007
9 Months Ended
Sep. 30, 2007
3 Months Ended
Sep. 30, 2006
9 Months Ended
Sep. 30, 2006
Income Statement
Revenue
Revenue - Total
$ 6,177,000,000
$ 18,256,000,000
$ 5,858,000,000
$ 17,141,000,000
Cost of Goods and Services Sold and Other Operating Expenses Abstract
Cost of Goods and Services Sold - Total
3,240,000,000
9,437,000,000
2,990,000,000
8,551,000,000
Selling, General and Administrative Expenses - Total
1,174,000,000
3,741,000,000
1,186,000,000
3,691,000,000
Research, Development and Related Expenses
338,000,000
1,009,000,000
340,000,000
1,013,000,000
Gain on Sale of Businesses
0
(854,000,000)
0
0
Cost of Goods and Services Sold and Other Operating Expenses - Total
4,752,000,000
13,333,000,000
4,516,000,000
13,255,000,000
Operating Income/(Loss)
1,425,000,000
4,923,000,000
1,342,000,000
3,886,000,000
Interest Income/(Expense)
Interest Expense
Interest Expense - Total
53,000,000
139,000,000
37,000,000
84,000,000
Interest Income
37,000,000
94,000,000
13,000,000
35,000,000
Interest Income/(Expense), Net - Total
(16,000,000)
(45,000,000)
(24,000,000)
(49,000,000)
Income/(Loss) from Continuing Operations Before Income Taxes
1,409,000,000
4,878,000,000
1,318,000,000
3,837,000,000
Provision for Income Taxes
Provision for Income Taxes - Total
433,000,000
1,586,000,000
412,000,000
1,127,000,000
Minority Interest, Net of Tax Effect
16,000,000
47,000,000
12,000,000
35,000,000
Net Income
960,000,000
3,245,000,000
894,000,000
2,675,000,000
Basic Earnings Per Share Details
Weighted-Average Shares Outstanding - Basic
714,500,000
720,700,000
745,200,000
751,600,000
Basic Earnings Per Share
1.34
4.50
1.20
3.56
Diluted Earnings Per Share Details
Weighted-Average Shares Outstanding - Diluted
729,900,000
734,300,000
756,200,000
765,100,000
Diluted Earnings Per Share
1.32
4.42
1.18
3.50
Cash Dividends Paid Per Common Share
0.48
1.44
0.46
1.38
Statement of Financial Position
(USD $)
Sep. 30, 2007
Dec. 31, 2006
Assets
Assets - Current
Cash and Cash Equivalents
Cash and Cash Equivalents - Total
$ 1,675,000,000
$ 1,447,000,000
Marketable Securities
Marketable Securities - Current - Total
1,024,000,000
471,000,000
Accounts Receivable Trade, Net
Accounts Receivable Trade, Net - Total
3,703,000,000
3,102,000,000
Inventories, Net
Inventories - Finished Goods
1,324,000,000
1,235,000,000
Inventories - Work in Process
879,000,000
795,000,000
Inventories - Raw Materials and Supplies
591,000,000
571,000,000
Inventories, Net
2,794,000,000
2,601,000,000
Other Assets - Current
1,204,000,000
1,325,000,000
Assets - Current - Total
10,400,000,000
8,946,000,000
Assets - Noncurrent
Marketable Securities - Noncurrent
556,000,000
166,000,000
Long-Term Investments
295,000,000
314,000,000
Property, Plant and Equipment, Net
Property, Plant and Equipment, Gross
Property, Plant and Equipment, Gross - Total
18,012,000,000
17,017,000,000
Accumulated Depreciation and Amortization
11,672,000,000
11,110,000,000
Property, Plant and Equipment, Net
6,340,000,000
5,907,000,000
Intangible Assets
Goodwill
4,387,000,000
4,082,000,000
Intangible Assets (Excluding Goodwill)
Intangible Assets (Excluding Goodwill) - Total
748,000,000
708,000,000
Prepaid Expenses - Noncurrent
Prepaid Pension and Postretirement Benefits
682,000,000
395,000,000
Other Assets - Noncurrent
947,000,000
776,000,000
Assets - Total
24,355,000,000
21,294,000,000
Liabilities and Stockholders' Equity
Liabilities
Current Liabilities
Short-term Borrowings and Current Portion of Long-term Debt
2,405,000,000
2,506,000,000
Accounts Payable
Accounts Payable - Total
1,503,000,000
1,402,000,000
Employee Related Liabilities
Employee Related Liabilities - Total
610,000,000
520,000,000
Income Taxes Payable
711,000,000
1,134,000,000
Other Liabilities - Current
1,912,000,000
1,761,000,000
Liabilities - Current - Total
7,141,000,000
7,323,000,000
Liabilities - Noncurrent
Long-Term Debt
Long-Term Debt - Total
2,824,000,000
1,047,000,000
Other Liabilities - Noncurrent
3,420,000,000
2,965,000,000
Liabilities - Total
13,385,000,000
11,335,000,000
Stockholder's Equity
Common Stock Value (Excluding Additional Paid in Capital) - All Classes
9,000,000
9,000,000
Additional Paid in Capital
2,731,000,000
2,484,000,000
Retained Earnings
Retained Earnings - Total
19,852,000,000
17,933,000,000
Treasury Stock Value - All Types and Classes
10,173,000,000
8,456,000,000
Deferred Compensation
96,000,000
138,000,000
Other Accumulated Comprehensive Income
(1,353,000,000)
(1,873,000,000)
Stockholders' Equity - Total
10,970,000,000
9,959,000,000
Liabilities and Stockholders' Equity - Total
24,355,000,000
21,294,000,000
Common Stock
Common Stock - Description
Common Stock - Par/Stated Value Per Share
0.01
0.01
Common Stock - Shares Issued
944,033,056
944,033,056
Treasury Stock
Treasury Stock - Description
Treasury Stock - Shares
230,804,083
209,670,254
Statement of Cash Flows
(USD $)
9 Months Ended
Sep. 30,
2007
2006
Statement of Cash Flows - Direct Method
Net Cash Flows Provided By/(Used In) Operating Activities
$ 2,719,000,000
$ 2,517,000,000
Net Cash Flows Provided By/(Used In) Investing Activities
Purchases of Property, Plant and Equipment (PP&E)
(1,031,000,000)
(763,000,000)
Proceeds from Sale of Property, Plant and Equipment
90,000,000
53,000,000
Acquisition/(Divestiture) of Business Activities, Net
Acquisition of Businesses, Net of Cash Acquired
(255,000,000)
(468,000,000)
Purchase of Investments
Purchases of Marketable Securities and Investments
(6,967,000,000)
(2,442,000,000)
Disposal of Investments
Proceeds from Sale of Marketable Securities and Investments
5,541,000,000
2,034,000,000
Proceeds from Available-for-Sale Securities
Proceeds from Maturities, Prepayments and Calls of Available-for-Sale Securities
547,000,000
157,000,000
Proceeds from Sale of Businesses
897,000,000
0
Net Cash Flows Provided By/(Used In) Investing Activities
(1,178,000,000)
(1,429,000,000)
Net Cash Flows Provided By/(Used In) Financing Activities
Increase/(Decrease) in Short-Term Borrowings
Change in Short-term Debt, Net
(144,000,000)
1,293,000,000
Repayments of Long-Term Debt and Capital Securities
Repayments of Other Long-Term Debt
(1,071,000,000)
(151,000,000)
Proceeds from Issuance of Long-Term Debt and Capital Securities
Proceeds from Issuance of Other Long-Term Debt
2,843,000,000
277,000,000
Repurchase of Preferred and Common Stock
Repurchase of Common Stock
(2,756,000,000)
(2,021,000,000)
Proceeds from Issuance of Equity
Proceeds from Issuance of Treasury Stock
689,000,000
426,000,000
Payment of Dividends
Payment of Dividends - Common and Preferred Stock
Payment of Dividends - Common Stock
(1,039,000,000)
(1,037,000,000)
Payment of Dividends - Minority Interest
(20,000,000)
(38,000,000)
Excess Tax Benefits from Stock-based Compensation
65,000,000
31,000,000
Cash Provided by/(Used in) Financing Activities - Other
(4,000,000)
(18,000,000)
Net Cash Flows Provided By/(Used In) Financing Activities
(1,437,000,000)
(1,238,000,000)
Effect of Exchange Rate on Cash and Cash Equivalents
124,000,000
77,000,000
Increase/(Decrease) in Cash and Cash Equivalents
228,000,000
(73,000,000)
Cash and Cash Equivalents - Beginning Balance
1,447,000,000
1,072,000,000
Cash and Cash Equivalents - Ending Balance
$ 1,675,000,000
$ 999,000,000
Cash Flow from Operations - Indirect Method
(USD $)
9 Months Ended
Sep. 30,
2007
2006
Net Cash Flows Provided By/(Used In) Operating Activities, Indirect
Net Income
$ 3,245,000,000
$ 2,675,000,000
Adjustments to Reconcile Net Income/(Loss) to Net Cash Provided By/(Used In) Operations
Depreciation and Amortization
Depreciation and Amortization - Total
796,000,000
728,000,000
Company Pension and Postretirement Contributions
(373,000,000)
(339,000,000)
Company Pension and Postretirement Expense
188,000,000
299,000,000
Stock Based Compensation Expense
182,000,000
162,000,000
Gain on Sale of Businesses
(854,000,000)
0
Deferred Income Taxes
(179,000,000)
(111,000,000)
Excess Tax Benefits Stock Based Compensation
(65,000,000)
(31,000,000)
Increase/(Decrease) in Current Assets
Increase/(Decrease) in Receivables
(458,000,000)
1
(384,000,000)
1
Increase/(Decrease) in Inventories
(89,000,000)
1
(375,000,000)
1
Increase/(Decrease) in Accounts Payable and Accrued Expenses
Increase/(Decrease) in Accounts Payable
60,000,000
1
71,000,000
1
Accrued Income Taxes (Current and Long-Term)
85,000,000
(138,000,000)
Product Other Insurance Receivables and Claims
145,000,000
51,000,000
Other Operating Activitites - Net
36,000,000
(91,000,000)
Net Cash Flows Provided By/(Used In) Operating Activities
$ 2,719,000,000
$ 2,517,000,000
[1] Activities that represent increases in cash flows are shown as a positive number, while activities that represent decreases in cash flows are shown as a negative number