Data Book

2016
First Quarter
Data Book
6©May
3M 2016 . All Rights Reserved.
1
TABLE OF CONTENTS
PAGE
STOCK AND EQUITY RELATED INFORMATION --------------------------------------------------------------3
SUMMARY OF SALES AND INCOME--------------------------------------------------------------------------------4
CONSOLIDATED STATEMENT OF INCOME-----------------------------------------------------------------------5
CONSOLIDATED STATEMENT OF INCOME PERCENTAGES--------------------------------------------------6
CONSOLIDATED BALANCE SHEET - WORKING CAPITAL---------------------------------------------------7
CONSOLIDATED BALANCE SHEET - NON-CURRENT---------------------------------------------------------8
PROPERTY, PLANT AND EQUIPMENT-----------------------------------------------------------------------------------------------------9
CONSOLIDATED STATEMENT OF EQUITY--------------------------------------------------------------------------------------------10
CONSOLIDATED STATEMENT OF CASH FLOWS---------------------------------------------------------------11
SALES CHANGE ANALYSIS - U.S. / INT'L / WW -----------------------------------------------------------------------------12
SALES CHANGE ANALYSIS - BUSINESS SEGMENT--------------------------------------------------------------------------13
GEOGRAPHIC AREAS--------------------------------------------------------------------------------------------------14
BUSINESS SEGMENT DATA----------------------------------------------------------------------------------- 15
NOTES------------------------------------------------------------------------------------------------------------------------16
MISCELLANEOUS DATA-------------------------------------------------------------------------------------------------17
SUMMARY OF LOCATIONS------------------------------------------------------------------------------------------18
The 3M Investor Relations Home Page can be found on the Internet at: www.3M.com.
To view the databook, click on Investor Relations, then Financials, then Data Book.
The file is a downloadable Adobe Acrobat file.
REFLECTS BUSINESS SEGMENT STRUCTURE EFFECTIVE FIRST QUARTER 2016
STOCK AND EQUITY RELATED INFORMATION
ATTRIBUTABLE TO 3M
BASIC
NYSE MARKET PRICE
HIGH
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
REPORTED
REPORTED
EXCL LOSS
REPORTED
EXCL GAIN
REPORTED
EXCL GAIN
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
2011
2012
2013
2014
2015
2016
REPORTED
REPORTED
REPORTED
REPORTED
EXCL LOSS
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
$
#
#
#
#
#
#
#
#
1st Qtr.
1st Qtr. #
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
Year #
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
LOW
CLOSE
P/E*
RATIO
CURRENT
DIVIDEND
YIELD
63.50 $
63.50
65.78
65.78
85.40
85.40
90.29
87.45
87.45
88.35
88.35
97.00
97.00
84.76
84.76
84.32
84.32
85.17
85.17
90.52
88.38
91.49
42.93 $
42.93
50.00
50.00
59.73
59.73
73.31
69.71
69.71
67.05
67.05
72.90
72.90
50.01
50.01
40.87
40.87
77.25
77.25
67.98
77.04
83.00
59.11
59.11
61.65
61.65
85.03
85.03
82.07
77.50
77.50
77.93
77.93
84.32
84.32
57.54
57.54
82.67
82.67
83.57
83.57
78.99
86.71
86.30
37
30
27
25
30
29
23
19
19
15
17
15
17
12
11
18
18
17
16
14
15
15
2.03 % $
2.03
2.01
2.01
1.55
1.55
1.75
2.17
2.17
2.36
2.36
2.28
2.28
3.48
3.48
2.47
2.47
2.51
2.51
2.66
2.42
2.43
94.16
97.95
98.19
83.10
85.63
90.19
71.71
68.63
93.50
94.85
71.79
81.73
16
16
12
14
2.35
2.32
3.06
2.69
90.00
89.95
94.30
95.46
82.70
81.99
85.34
86.74
89.21
89.60
92.42
92.85
15
15
15
15
2.65
2.63
2.55
2.54
106.88
113.25
122.27
140.43
93.96
102.89
108.21
116.65
106.31
109.35
119.41
140.25
17
17
18
21
2.39
2.32
2.13
1.81
139.29
145.53
147.87
168.16
123.61
132.02
138.43
130.60
135.66
143.24
141.68
164.32
20
20
19
22
2.52
2.39
2.41
2.08
170.50
167.70
157.94
160.09
157.74
153.92
134.00
138.57
164.95
154.30
141.77
150.64
22
20
18
20
2.49
2.66
2.89
2.72
134.64
166.63
21
2.66
167.50
# See Notes 3 through 13, Page 16.
INCOME BEFORE CUM. EFF.
OF ACCOUNTING CHANGE
PER
SHARE
1.62
2.02
2.35
2.49
2.91
2.99
3.63
4.10
4.20
5.15
4.57
5.70
5.08
4.95
5.23
4.56
4.73
1.31
1.42
1.57
1.55
1.30
5.72
5.84
1.52
1.63
1.54
1.36
6.05
1.61
1.68
1.68
1.43
6.40
1.63
1.74
1.81
1.65
6.83
1.83
1.94
2.02
1.85
7.63
1.88
2.06
2.09
1.69
7.72
2.10
% INCR.
PREV. YR.
(26.4) % $
(9.0)
45.1
23.3
23.8
20.1
24.7
12.9
15.7
25.6
8.8
10.7
11.2
(13.2)
3.0
(7.9)
(9.6)
74.7
75.3
40.2
14.0
(1.5)
25.4
23.5
16.0
3.8
(0.6)
4.6
5.8
5.9
3.1
9.1
5.1
5.8
1.2
3.6
7.7
15.4
6.7
12.3
11.5
11.6
12.1
11.7
2.7
6.2
3.5
(8.6)
1.2
11.7
DILUTED
NET
INCOME
PER
SHARE
1.62 $
2.02
2.35
2.49
2.91
2.99
3.63
4.06
4.20
5.15
4.57
5.70
5.08
4.95
5.23
4.56
4.73
1.31
1.42
1.57
1.55
1.30
5.72
5.84
1.52
1.63
1.54
1.36
6.05
1.61
1.68
1.68
1.43
6.40
1.63
1.74
1.81
1.65
6.83
1.83
1.94
2.02
1.85
7.63
1.88
2.06
2.09
1.69
7.72
2.10
INCOME BEFORE CUM. EFF.
NET
OF ACCOUNTING CHANGE INCOME
PER
SHARE
% INCR.
PREV. YR.
1.60
1.99
2.32
2.46
2.87
2.94
3.55
4.02
4.11
5.06
4.49
5.60
4.98
4.89
5.17
4.52
4.69
1.29
1.40
1.54
1.53
1.28
5.63
5.75
1.49
1.60
1.52
1.35
5.96
1.59
1.66
1.65
1.41
6.32
1.61
1.71
1.78
1.62
6.72
1.79
1.91
1.98
1.81
7.49
1.85
2.02
2.05
1.66
7.58
2.05
* P/E ratio equals common stock closing market price divided by the last four quarters diluted net income per share.
(26.6) % $
(9.5)
45.0
23.6
23.7
19.5
23.7
13.2
15.8
25.9
9.2
10.7
10.9
(12.7)
3.8
(7.6)
(9.3)
74.3
72.8
37.5
13.3
(1.5)
24.6
22.6
15.5
3.9
(0.7)
5.5
5.9
6.7
3.8
8.6
4.4
6.0
1.3
3.0
7.9
14.9
6.3
11.2
11.7
11.2
11.7
11.5
3.4
5.8
3.5
(8.3)
1.2
10.8
PER
SHARE
1.60 $
1.99
2.32
2.46
2.87
2.94
3.55
3.97
4.11
5.06
4.49
5.60
4.98
4.89
5.17
4.52
4.69
1.29
1.40
1.54
1.53
1.28
5.63
5.75
1.49
1.60
1.52
1.35
5.96
1.59
1.66
1.65
1.41
6.32
1.61
1.71
1.78
1.62
6.72
1.79
1.91
1.98
1.81
7.49
1.85
2.02
2.05
1.66
7.58
2.05
DIVIDENDS
PAID
PER
SHARE
1.20 $
1.20
1.24
1.24
1.32
1.32
1.44
1.68
1.68
1.84
1.84
1.92
1.92
2.00
2.00
2.04
2.04
0.525
0.525
0.525
0.525
0.525
2.10
2.10
0.55
0.55
0.55
0.55
2.20
0.59
0.59
0.59
0.59
2.36
0.635
0.635
0.635
0.635
2.54
0.855
0.855
0.855
0.855
3.42
1.025
1.025
1.025
1.025
4.10
1.11
EQUITY
PER
SHARE
8.58
8.58
8.28
8.28
10.64
10.64
14.11
14.19
14.19
13.94
13.94
17.02
17.02
14.86
14.86
18.72
18.72
19.42
19.42
20.00
22.15
22.50
23.77
25.01
24.84
22.82
23.95
24.41
26.22
26.26
26.85
26.80
27.11
27.06
27.39
27.54
25.29
20.69
21.99
21.02
19.85
19.28
19.41
RETURN
ON
EQUITY
19.8 %
24.6
26.9
28.4
30.7
31.5
30.8
28.8
29.8
34.8
30.9
37.6
33.5
28.5
30.1
27.6
28.6
27.4
29.9
31.9
29.4
23.3
27.9
28.5
26.3
26.8
24.8
22.9
25.5
27.7
27.9
26.5
21.9
26.0
24.7
26.0
26.9
24.4
25.6
26.9
28.3
30.6
32.1
39.8
35.4
38.4
40.9
34.6
37.6
43.4
PAGE 3
SUMMARY OF SALES AND INCOME ($ IN MILLIONS)
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
NONCONATTRIBUTABLE TO 3M
TROLLING INCOME BEFORE CUMULATIVE
NET
RETURN
NET SALES
PRETAX INCOME
INCOME TAXES
INTEREST EFFECT OF ACCOUNTING CHANGE
INCOME ECONOMIC
ON
% INCR.
% TO
EFFECTIVE
% TO
% INCR.
PROFIT* INVESTED
AMOUNT PREV. YR. AMOUNT
SALES
AMOUNT
RATE
AMOUNT AMOUNT
SALES
PREV. YR.
AMOUNT (millions)
CAPITAL*
REPORTED
$ 16,054
(3.9) % $
1,988
12.4 % $
656
33.0 % $
54 $
1,278
8.0 %
(26.7) % $
1,278
N/A
N/A
EXCL LOSS #
16,054
(3.9)
2,492
15.5
840
33.7
62
1,590
9.9
(9.6)
1,590
N/A
N/A
REPORTED
16,332
1.7
2,774
17.0
878
31.7
65
1,831
11.2
43.3
1,831
N/A
N/A
EXCL LOSS #
16,332
1.7
2,976
18.2
954
32.1
83
1,939
11.9
21.9
1,939
N/A
N/A
REPORTED
18,232
11.6
3,436
18.8
1,105
32.2
52
2,279
12.5
24.5
2,279
N/A
N/A
EXCL LOSS #
18,232
11.6
3,529
19.4
1,140
32.3
52
2,337
12.8
20.5
2,337
N/A
N/A
REPORTED
20,011
9.8
4,291
21.4
1,396
32.5
62
2,833
14.2
24.3
2,833
N/A
N/A
REPORTED
21,167
5.8
4,817
22.8
1,623
33.7
55
3,139
14.8
10.8
3,104
N/A
N/A
EXCL LOSS #
21,167
5.8
4,817
22.8
1,548
32.1
55
3,214
15.2
13.4
3,214
N/A
N/A
REPORTED
22,923
8.3
5,625
24.5
1,723
30.6
51
3,851
16.8
22.4
3,851
N/A
N/A
EXCL GAIN #
22,923
8.3
5,102
22.3
1,638
32.1
51
3,413
14.9
6.0
3,413
N/A
N/A
REPORTED
24,462
6.7
6,115
25.0
1,964
32.1
55
4,096
16.7
6.4
4,096
N/A
N/A
EXCL GAIN #
24,462
6.7
5,434
22.2
1,731
31.8
55
3,648
14.9
6.9
3,648
N/A
N/A
REPORTED
25,269
3.3
5,108
20.2
1,588
31.1
60
3,460
13.7
(15.5)
3,460
N/A
N/A
EXCL LOSS #
25,269
3.3
5,377
21.3
1,659
30.9
64
3,654
14.5
0.2
3,654
N/A
N/A
REPORTED
23,123
(8.5)
4,632
20.0
1,388
30.0
51
3,193
13.8
(7.7)
3,193
N/A
N/A
EXCL LOSS #
23,123
(8.5)
4,826
20.9
1,456
30.2
58
3,312
14.3
(9.3)
3,312
N/A
N/A
N/A
N/A
REPORTED 1st Qtr.
6,348
24.7
1,403
22.1
448
31.9
25
930
14.7
79.6
930
N/A
N/A
EXCL LOSS 1st Qtr. #
6,348
24.7
1,403
22.1
364
26.0
25
1,014
16.0
80.2
1,014
N/A
N/A
REPORTED 2nd Qtr.
6,731
17.7
1,554
23.1
414
26.6
19
1,121
16.6
43.0
1,121
N/A
N/A
REPORTED 3rd Qtr.
6,874
11.0
1,536
22.4
411
26.8
19
1,106
16.1
15.6
1,106
N/A
N/A
REPORTED 4th Qtr.
6,709
9.6
1,262
18.8
319
25.3
15
928
13.8
(0.7)
928
N/A
N/A
6,709
N/A
N/A
REPORTED
Year
26,662
15.3
5,755
21.6
1,592
27.7
78
4,085
15.3
27.9
4,085
N/A
N/A
EXCL LOSS
Year #
26,662
15.3
5,755
21.6
1,508
26.2
78
4,169
15.6
25.8
4,169
N/A
N/A
N/A
N/A
REPORTED 1st Qtr.
7,311
15.2
1,545
21.1
442
28.6
22
1,081
14.8
16.2
1,081 $
572
20.2 %
REPORTED 2nd Qtr.
7,680
14.1
1,614
21.0
437
27.1
17
1,160
15.1
3.5
1,160
629
21.2
REPORTED 3rd Qtr.
7,531
9.6
1,543
20.5
440
28.6
15
1,088
14.4
(1.6)
1,088
547
19.4
REPORTED 4th Qtr.
7,089
5.7
1,329
18.7
355
26.7
20
954
13.5
2.7
954
482
18.1
REPORTED
Year
29,611
11.1
6,031
20.4
1,674
27.8
74
4,283
14.5
4.8
4,283
2,230
19.9
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
2013
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
2014
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
2015
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
2016
REPORTED
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
7,486
7,534
7,497
7,387
29,904
7,634
7,752
7,916
7,569
30,871
7,831
8,134
8,137
7,719
31,821
7,578
7,686
7,712
7,298
30,274
7,409
# See Notes 3 through 13, Page 16.
2.4
(1.9)
(0.4)
4.2
1.0
2.0
2.9
5.6
2.4
3.2
2.6
4.9
2.8
2.0
3.1
(3.2)
(5.5)
(5.2)
(5.4)
(4.9)
(2.2)
1,603
1,695
1,644
1,409
6,351
1,617
1,671
1,716
1,558
6,562
1,688
1,820
1,880
1,638
7,026
1,703
1,812
1,845
1,463
6,823
1,746
21.4
22.5
21.9
19.1
21.2
21.2
21.6
21.7
20.6
21.3
21.6
22.4
23.1
21.2
22.1
22.5
23.6
23.9
20.0
22.5
23.6
462
509
464
405
1,840
470
458
471
442
1,841
463
537
569
459
2,028
502
509
547
424
1,982
468
28.8
30.1
28.2
28.7
29.0
29.1
27.4
27.4
28.4
28.1
27.4
29.5
30.3
28.0
28.9
29.5
28.1
29.6
29.0
29.1
26.8
16
19
19
13
67
18
16
15
13
62
18
16
8
0
42
2
3
2
1
8
3
1,125
1,167
1,161
991
4,444
1,129
1,197
1,230
1,103
4,659
1,207
1,267
1,303
1,179
4,956
1,199
1,300
1,296
1,038
4,833
1,275
15.0
15.5
15.5
13.4
14.9
14.8
15.4
15.5
14.6
15.1
15.4
15.6
16.0
15.3
15.6
15.8
16.9
16.8
14.2
16.0
17.2
4.0
0.6
6.7
3.8
3.7
0.4
2.6
6.0
11.3
4.8
7.0
5.8
5.9
7.0
6.4
(0.7)
2.6
(0.5)
(12.0)
(2.5)
6.4
* Economic profit equals after-tax operating income (including interest income), less a charge for operating capital.
Return on invested capital equals after-tax annualized operating income (including interest income) divided by average operating capital.
1,125
1,167
1,161
991
4,444
1,129
1,197
1,230
1,103
4,659
1,207
1,267
1,303
1,179
4,956
1,199
1,300
1,296
1,038
4,833
1,275
626
636
600
435
2,297
563
637
670
540
2,410
641
695
742
702
2,780
710
788
739
507
2,744
740
21.5
21.6
20.4
17.1
19.8
19.2
20.4
21.0
19.0
20.0
20.5
21.3
22.0
22.1
22.0
23.8
25.2
23.5
18.6
22.5
22.9
PAGE 4
CONSOLIDATED STATEMENT OF INCOME ($ IN MILLIONS)
ATTRIBUTABLE TO 3M
INCOME
BEFORE CUM. CUMULATIVE
EFFECT OF
EFFECT OF
ACCOUNTING ACCOUNTING
CHANGE
CHANGE
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
OTHER
NONCONNET
COST OF
R&D and EXPENSE OPERATING INTEREST INTEREST PRETAX INCOME TROLLING
SALES
SALES
SG & A related exp. (INCOME) INCOME
EXPENSE (INCOME)
INCOME
TAXES INTEREST
REPORTED
$ 16,054 $
8,784 $
4,122 $
1,161 $
(88) $
2,075 $
124 $
(37) $
1,988 $
656 $
54 $
EXCL LOSS #
16,054
8,512
3,822
1,141
-2,579
124
(37)
2,492
840
62
REPORTED
16,332
8,536
3,822
1,158
-2,816
81
(39)
2,774
878
65
EXCL LOSS #
16,332
8,415
3,745
1,154
-3,018
81
(39)
2,976
954
83
REPORTED
18,232
9,322
4,123
1,190
93
3,504
96
(28)
3,436
1,105
52
EXCL LOSS #
18,232
9,322
4,123
1,190
-3,597
96
(28)
3,529
1,140
52
REPORTED
20,011
10,002
4,437
1,246
-4,326
81
(46)
4,291
1,396
62
REPORTED
21,167
10,408
4,631
1,274
-4,854
93
(56)
4,817
1,623
55
EXCL LOSS #
21,167
10,408
4,631
1,274
-4,854
93
(56)
4,817
1,548
55
REPORTED
22,923
11,713
5,066
1,522
(1,074)
5,696
122
(51)
5,625
1,723
51
EXCL GAIN #
22,923
11,570
4,828
1,352
-5,173
122
(51)
5,102
1,638
51
REPORTED
24,462
12,735
5,015
1,368
(849)
6,193
210
(132)
6,115
1,964
55
EXCL GAIN #
24,462
12,671
4,907
1,372
-5,512
210
(132)
5,434
1,731
55
REPORTED
25,269
13,379
5,245
1,404
23
5,218
215
(105)
5,108
1,588
60
EXCL LOSS #
25,269
13,257
5,134
1,391
-5,487
215
(105)
5,377
1,659
64
REPORTED
23,123
12,109
4,907
1,293
-4,814
219
(37)
4,632
1,388
51
EXCL LOSS #
23,123
12,014
4,816
1,285
-5,008
219
(37)
4,826
1,456
58
REPORTED 1st Qtr.
6,348
3,238
1,323
342
-1,445
48
(6)
1,403
448
25
EXCL LOSS 1st Qtr. #
6,348
3,238
1,323
342
-1,445
48
(6)
1,403
364
25
REPORTED 2nd Qtr.
6,731
3,435
1,350
350
-1,596
52
(10)
1,554
414
19
REPORTED 3rd Qtr.
6,874
3,583
1,361
354
-1,576
51
(11)
1,536
411
19
REPORTED 4th Qtr.
6,709
3,575
1,445
388
-1,301
50
(11)
1,262
319
15
REPORTED
Year
26,662
13,831
5,479
1,434
-5,918
201
(38)
5,755
1,592
78
EXCL LOSS
Year #
26,662
13,831
5,479
1,434
-5,918
201
(38)
5,755
1,508
78
REPORTED 1st Qtr.
7,311
3,802
1,533
398
-1,578
43
(10)
1,545
442
22
REPORTED 2nd Qtr.
7,680
4,040
1,581
404
-1,655
50
(9)
1,614
437
17
REPORTED 3rd Qtr.
7,531
4,027
1,534
389
-1,581
48
(10)
1,543
440
15
REPORTED 4th Qtr.
7,089
3,824
1,522
379
-1,364
45
(10)
1,329
355
20
REPORTED
Year
29,611
15,693
6,170
1,570
-6,178
186
(39)
6,031
1,674
74
REPORTED 1st Qtr.
7,486
3,889
1,552
411
-1,634
40
(9)
1,603
462
16
REPORTED 2nd Qtr.
7,534
3,870
1,528
408
-1,728
43
(10)
1,695
509
19
REPORTED 3rd Qtr.
7,497
3,935
1,487
397
-1,678
44
(10)
1,644
464
19
REPORTED 4th Qtr.
7,387
3,991
1,535
418
-1,443
44
(10)
1,409
405
13
-REPORTED
Year
29,904
15,685
6,102
1,634
-6,483
171
(39)
6,351
1,840
67
REPORTED 1st Qtr.
7,634
3,969
1,589
430
-1,646
39
(10)
1,617
470
18
REPORTED 2nd Qtr.
7,752
4,013
1,610
427
-1,702
41
(10)
1,671
458
16
REPORTED 3rd Qtr.
7,916
4,148
1,609
420
-1,739
33
(10)
1,716
471
15
REPORTED 4th Qtr.
7,569
3,976
1,576
438
-1,579
32
(11)
1,558
442
13
REPORTED
Year
30,871
16,106
6,384
1,715
-6,666
145
(41)
6,562
1,841
62
REPORTED 1st Qtr.
7,831
4,031
1,632
452
-1,716
37
(9)
1,688
463
18
REPORTED 2nd Qtr.
8,134
4,184
1,646
448
-1,856
45
(9)
1,820
537
16
REPORTED 3rd Qtr.
8,137
4,205
1,597
434
-1,901
28
(7)
1,880
569
8
REPORTED 4th Qtr.
7,719
4,027
1,594
436
-1,662
32
(8)
1,638
459
0
REPORTED
Year
31,821
16,447
6,469
1,770
-7,135
142
(33)
7,026
2,028
42
REPORTED 1st Qtr.
7,578
3,821
1,564
463
-1,730
31
(4)
1,703
502
2
REPORTED 2nd Qtr.
7,686
3,858
1,550
438
-1,840
35
(7)
1,812
509
3
REPORTED 3rd Qtr.
7,712
3,877
1,530
429
-1,876
38
(7)
1,845
547
2
REPORTED 4th Qtr.
7,298
3,827
1,538
433
-1,500
45
(8)
1,463
424
1
REPORTED
Year
30,274
15,383
6,182
1,763
-6,946
149
(26)
6,823
1,982
8
REPORTED 1st Qtr.
7,409
3,678
1,493
450
-1,788
47
(5)
1,746
468
3
# See Notes 3 through 13, Page 16.
1,278 $
1,590
1,831
1,939
2,279
2,337
2,833
3,139
3,214
3,851
3,413
4,096
3,648
3,460
3,654
3,193
3,312
930
1,014
1,121
1,106
928
4,085
4,169
1,081
1,160
1,088
954
4,283
1,125
1,167
1,161
991
4,444
1,129
1,197
1,230
1,103
4,659
1,207
1,267
1,303
1,179
4,956
1,199
1,300
1,296
1,038
4,833
1,275
-------(35)
----------------------------------------------
NET
INCOME
$
1,278
1,590
1,831
1,939
2,279
2,337
2,833
3,104
3,214
3,851
3,413
4,096
3,648
3,460
3,654
3,193
3,312
930
1,014
1,121
1,106
928
4,085
4,169
1,081
1,160
1,088
954
4,283
1,125
1,167
1,161
991
4,444
1,129
1,197
1,230
1,103
4,659
1,207
1,267
1,303
1,179
4,956
1,199
1,300
1,296
1,038
4,833
1,275
PAGE 5
CONSOLIDATED STATEMENT OF INCOME PERCENTAGES
ATTRIBUTABLE
TO 3M
COST OF
SALES
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
REPORTED
REPORTED
EXCL LOSS
REPORTED
EXCL GAIN
REPORTED
EXCL GAIN
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
REPORTED
EXCL LOSS
2011
2012
2013
2014
2015
2016
#
#
#
#
#
#
#
#
1st Qtr.
1st Qtr. #
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
Year #
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
REPORTED
REPORTED
REPORTED
REPORTED
EXCL LOSS
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
REPORTED
# See Notes 3 through 13, Page 16.
54.8 %
53.0
52.3
51.5
51.2
51.2
50.0
49.2
49.2
51.1
50.4
52.1
51.8
52.9
52.5
52.4
51.9
51.0
51.0
51.0
52.1
53.3
51.9
51.9
52.0
52.6
53.4
54.0
53.0
52.0
51.4
52.5
54.0
52.4
52.0
51.7
52.4
52.5
52.1
51.5
51.5
51.7
52.2
51.7
50.5
50.2
50.3
52.5
50.9
49.6
SG & A
25.7 %
23.8
23.4
22.9
22.6
22.6
22.2
21.9
21.9
22.1
21.1
20.5
20.1
20.8
20.3
21.2
20.8
20.8
20.8
20.1
19.8
21.5
20.5
20.5
21.0
20.6
20.4
21.5
20.8
20.7
20.3
19.8
20.8
20.4
20.8
20.8
20.3
20.8
20.7
20.8
20.2
19.6
20.7
20.3
20.6
20.2
19.8
21.1
20.4
20.2
OTHER
R&D and
EXPENSE
related exp. (INCOME)
7.2 %
7.1
7.1
7.1
6.5
6.5
6.2
6.0
6.0
6.6
5.9
5.6
5.6
5.6
5.5
5.6
5.6
5.4
5.4
5.2
5.2
5.8
5.4
5.4
5.4
5.2
5.2
5.3
5.3
5.5
5.4
5.3
5.7
5.5
5.6
5.5
5.3
5.8
5.6
5.8
5.5
5.3
5.6
5.6
6.1
5.7
5.6
5.9
5.8
6.1
(0.6) %
---0.5
----(4.6)
-(3.5)
-0.1
-------------------------------------
OPERATING INTEREST
INCOME
EXPENSE
12.9 %
16.1
17.2
18.5
19.2
19.7
21.6
22.9
22.9
24.8
22.6
25.3
22.5
20.6
21.7
20.8
21.7
22.8
22.8
23.7
22.9
19.4
22.2
22.2
21.6
21.6
21.0
19.2
20.9
21.8
22.9
22.4
19.5
21.7
21.6
22.0
22.0
20.9
21.6
21.9
22.8
23.4
21.5
22.4
22.8
23.9
24.3
20.5
22.9
24.1
0.8 %
0.8
0.5
0.5
0.6
0.5
0.4
0.4
0.4
0.5
0.5
0.9
0.9
0.9
0.9
0.9
0.9
0.8
0.8
0.8
0.7
0.7
0.8
0.8
0.6
0.7
0.6
0.6
0.6
0.5
0.6
0.6
0.6
0.6
0.5
0.5
0.4
0.4
0.5
0.4
0.6
0.4
0.4
0.4
0.4
0.4
0.5
0.6
0.5
0.6
INTEREST
(INCOME)
PRETAX
INCOME
(0.3) %
(0.3)
(0.3)
(0.3)
(0.2)
(0.2)
(0.2)
(0.3)
(0.3)
(0.2)
(0.2)
(0.6)
(0.6)
(0.5)
(0.5)
(0.1)
(0.1)
(0.1)
(0.1)
(0.2)
(0.2)
(0.1)
(0.2)
(0.2)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
(0.2)
(0.1)
(0.2)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
(0.2)
(0.1)
(0.2)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
(0.1)
12.4 %
15.5
17.0
18.2
18.8
19.4
21.4
22.8
22.8
24.5
22.3
25.0
22.2
20.2
21.3
20.0
20.9
22.1
22.1
23.1
22.4
18.8
21.6
21.6
21.1
21.0
20.5
18.7
20.4
21.4
22.5
21.9
19.1
21.2
21.2
21.6
21.7
20.6
21.3
21.6
22.4
23.1
21.2
22.1
22.5
23.6
23.9
20.0
22.5
23.6
INCOME
TAXES
4.1 %
5.2
5.4
5.8
6.0
6.3
6.9
7.7
7.3
7.5
7.2
8.1
7.1
6.3
6.6
6.0
6.3
7.0
5.7
6.2
6.0
4.8
6.0
5.7
6.0
5.7
5.9
5.0
5.7
6.2
6.8
6.2
5.5
6.1
6.2
6.0
6.0
5.8
6.0
6.0
6.6
7.0
5.9
6.4
6.7
6.7
7.1
5.8
6.5
6.4
NONCONTROLLING
INTEREST
0.3 %
0.4
0.4
0.5
0.3
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.3
0.4
0.4
0.3
0.3
0.2
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.1
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
INCOME
BEFORE CUM.
EFFECT OF
ACCOUNTING
CHANGE
8.0 %
9.9
11.2
11.9
12.5
12.8
14.2
14.8
15.2
16.8
14.9
16.7
14.9
13.7
14.5
13.8
14.3
14.7
16.0
16.6
16.1
13.8
15.3
15.6
14.8
15.1
14.4
13.5
14.5
15.0
15.5
15.5
13.4
14.9
14.8
15.4
15.5
14.6
15.1
15.4
15.6
16.0
15.3
15.6
15.8
16.9
16.8
14.2
16.0
17.2
PAGE 6
CONSOLIDATED BALANCE SHEET - WORKING CAPITAL ($ IN MILLIONS)
CURRENT ASSETS
CASH &
EQUIV.
2010
2011
2012
2013
2014
2015
2016
4th Qtr. $
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
3,377
2,747
3,376
3,376
2,219
2,332
3,308
3,029
2,883
2,928
2,942
2,340
2,581
1,954
2,125
1,929
1,897
1,791
2,983
1,605
1,798
1,337
MKT
SEC.
$
1,634 $
1,638
1,547
1,924
2,353
2,157
2,622
3,383
2,803
2,893
2,842
2,508
2,198
2,208
2,076
1,860
1,439
1,018
502
153
118
176
RECEIVABLES-NET
$
3,615
4,209
4,385
4,259
3,867
4,323
4,364
4,409
4,061
4,418
4,542
4,594
4,253
4,598
4,759
4,711
4,238
4,408
4,578
4,610
4,154
4,485
TURNS(a)
7.42 $
6.95
7.01
7.07
7.33
6.93
6.90
6.80
7.28
6.91
6.83
6.89
7.12
6.81
6.84
6.91
7.29
6.88
6.72
6.69
7.03
6.61
INVENTORIES
$
3,155
3,489
3,717
3,604
3,416
3,561
3,656
3,842
3,837
3,819
3,919
3,948
3,864
3,972
4,093
3,945
3,706
3,704
3,847
3,709
3,518
3,627
TURNS(b) OTHER
4.33 $
4.17
4.16
4.28
4.29
4.17
4.05
3.92
3.98
3.97
3.92
4.02
3.93
3.88
3.90
4.09
4.16
3.95
3.84
4.01
4.13
3.89
785
714
712
750
1,027
943
943
956
866
933
943
1,083
939
1,038
974
1,063
1,023
1,395
1,278
1,340
1,398
1,249
TOTAL
CURRENT LIABILITIES
SHORT-TERM ACCOUNTS
BORROWINGS PAYABLE OTHER
TOTAL
12,566 $
12,797
13,737
13,913
12,882
13,316
14,893
15,619
14,450
14,991
15,188
14,473
13,835
13,770
14,027
13,508
12,303
12,316
13,188
11,417
10,986
10,874
1,269
1,133
1,116
1,204
682
664
650
1,506
1,085
1,072
1,062
2,244
1,683
2,176
1,650
2,119
106
132
86
2,279
2,044
2,212
$
1,662
1,815
1,851
1,689
1,643
1,779
1,792
1,805
1,762
1,820
1,920
1,718
1,799
1,866
1,844
1,796
1,807
1,801
1,714
1,600
1,694
1,581
$
3,131 $
2,926
3,211
3,246
3,093
2,940
3,241
3,260
3,308
3,006
3,327
3,451
3,979
3,365
3,495
3,744
4,051
3,096
3,248
3,105
3,380
3,385
6,062
5,874
6,178
6,139
5,418
5,383
5,683
6,571
6,155
5,898
6,309
7,413
7,461
7,407
6,989
7,659
5,964
5,029
5,048
6,984
7,118
7,178
CURRENT
RATIO
2.1
2.2
2.2
2.3
2.4
2.5
2.6
2.4
2.3
2.5
2.4
2.0
1.9
1.9
2.0
1.8
2.1
2.4
2.6
1.6
1.5
1.5
NET WORKING CAPITAL FOR MGMT. REPORTING
$ (c)
TURNS(d)
5,108
5,883
6,251
6,174
5,640
6,105
6,228
6,446
6,136
6,417
6,541
6,824
6,318
6,704
7,008
6,860
6,137
6,311
6,711
6,719
5,978
6,531
5.25
4.97
4.91
4.88
5.03
4.91
4.84
4.65
4.82
4.76
4.74
4.64
4.79
4.67
4.64
4.74
5.03
4.80
4.58
4.59
4.88
4.54
See Note 13, Page 16.
(a) Receivable Turns = Quarterly net sales multiplied by 4 divided by ending accounts receivable.
(b) Inventory Turns = Quarterly factory cost excluding special items multiplied by 4 divided by ending inventory.
(c) Net Working Capital - for management reporting purposes, 3M calculates net working capital as receivables-net plus
inventories minus accounts payable.
(d) Net Working Capital Turns = Quarterly net sales multiplied by 4 divided by ending net working capital dollars.
PAGE 7
CONSOLIDATED BALANCE SHEET - NON-CURRENT ($ IN MILLIONS)
CURRENT
ASSETS*
2010
2011
2012
2013
2014
2015
2016
4th Qtr. $
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
12,566 $
12,797
13,737
13,913
12,882
13,316
14,893
15,619
14,450
14,991
15,188
14,473
13,835
13,770
14,027
13,508
12,303
12,316
13,188
11,417
10,986
10,874
LONGTERM
MKT
SEC.
7 $
7
8
5
4
5
4
6
7
7
10
10
11
12
12
12
15
13
13
13
9
15
PROPERTY
PLANT &
INVEST- EQUIPMENT OTHER
MENTS
- NET**
ASSETS
146 $
160
166
162
155
160
152
142
163
161
154
150
122
120
113
108
102
102
106
112
117
115
7,279
7,503
7,624
7,509
7,666
7,755
7,706
7,939
8,378
8,318
8,329
8,448
8,652
8,630
8,685
8,499
8,489
8,286
8,389
8,470
8,515
8,614
$ 10,116
10,602
10,681
10,434
10,877
10,724
10,537
10,721
10,843
10,452
10,304
10,461
10,684
10,755
10,861
10,458
10,300
9,852
9,615
13,134
13,091
13,364
TOTAL
ASSETS
$
30,114 $
31,069
32,216
32,023
31,584
31,960
33,292
34,427
33,841
33,929
33,985
33,542
33,304
33,287
33,698
32,585
31,209
30,569
31,311
33,146
32,718
32,982
LONGCURRENT
TERM
LIABILITIES* DEBT
6,062 $
5,874
6,178
6,139
5,418
5,383
5,683
6,571
6,155
5,898
6,309
7,413
7,461
7,407
6,989
7,659
5,964
5,029
5,048
6,984
7,118
7,178
4,170 $
4,473
4,472
4,941
4,470
4,496
5,640
4,834
4,899
4,848
4,869
3,519
4,309
4,384
5,306
5,204
6,705
6,434
8,398
8,937
8,753
8,927
OTHER
LIABILITIES
3,865 $
3,835
3,824
3,531
5,834
5,462
5,096
4,881
4,747
4,655
4,488
4,358
3,586
3,572
3,557
3,516
5,398
5,154
4,735
5,001
5,100
5,103
TOTAL
LIABILITIES
14,097 $
14,182
14,474
14,611
15,722
15,341
16,419
16,286
15,801
15,401
15,666
15,290
15,356
15,363
15,852
16,379
18,067
16,617
18,181
20,922
20,971
21,208
EQUITY NET#
16,017
16,887
17,742
17,412
15,862
16,619
16,873
18,141
18,040
18,528
18,319
18,252
17,948
17,924
17,846
16,206
13,142
13,952
13,130
12,224
11,747
11,774
DEBT TO
CAPITAL
RATIO
25 %
25
24
26
25
24
27
26
25
24
25
24
25
27
28
31
34
32
39
48
48
49
See Note 13, Page 16.
* For Details, See Page 7.
** For Details, See Page 9.
# For Details, See Page 10.
PAGE 8
PROPERTY, PLANT AND EQUIPMENT ($ IN MILLIONS)
ACCUM.
DEPR. &
AMORT.*
PP&E
COST
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
$
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
14,365
15,058
15,841
16,290
16,127
17,017
18,390
18,812
19,440
19,234
19,045
19,738
20,253
$
8,750
9,437
10,232
10,579
10,534
11,110
11,808
11,926
12,440
12,375
12,330
12,823
12,974
NET
PP&E
$
COMPONENTS OF CHANGE IN NET PP&E
DEPR. & AMORT.*
BOOK
CAPITAL
% TO
VALUE OF
EXPENDITURES
AMOUNT
SALES
DISPOSALS
ACCUM.
DEPR. &
AMORT. %
OF COST
5,615
5,621
5,609
5,711
5,593
5,907
6,582
6,886
7,000
6,859
6,715
6,915
7,279
60.9
62.7
64.6
64.9
65.3
65.3
64.2
63.4
64.0
64.3
64.7
65.0
64.1
20,785
21,188
21,038
21,166
13,282
13,564
13,529
13,500
7,503
7,624
7,509
7,666
63.9
64.0
64.3
63.8
21,484
21,443
22,042
22,525
13,729
13,737
14,103
14,147
7,755
7,706
7,939
8,378
63.9
64.1
64.0
62.8
22,468
22,417
22,869
23,068
14,150
14,088
14,421
14,416
8,318
8,329
8,448
8,652
63.0
62.8
63.1
62.5
23,241
23,447
23,095
22,841
14,611
14,762
14,596
14,352
8,630
8,685
8,499
8,489
62.9
63.0
63.2
62.8
22,473
22,851
22,940
23,098
14,187
14,462
14,470
14,583
8,286
8,389
8,470
8,515
63.1
63.3
63.1
63.1
23,564
14,950
8,614
63.4
$
980
763
677
937
943
1,168
1,422
1,471
903
157
180
228
526
1,091
231
295
336
517
1,379
261
358
358
507
1,484
324
394
404
543
1,665
293
341
369
490
1,493
291
370
354
446
1,461
314
$
(990)
(915)
(923)
(956)
(938)
(987)
(981)
(1,022)
(969)
(243)
(229)
(233)
(235)
(940)
(235)
(255)
(250)
(258)
(998)
(253)
(262)
(261)
(275)
(1,051)
(275)
(274)
(283)
(299)
(1,131)
(292)
(300)
(293)
(289)
(1,174)
(285)
(293)
(288)
(335)
(1,201)
(289)
6.2
5.6
5.1
4.8
4.4
4.3
4.0
4.0
4.2
3.8
3.4
3.4
3.5
3.5
3.2
3.3
3.3
3.6
3.4
3.4
3.5
3.5
3.7
3.5
3.6
3.5
3.6
4.0
3.7
3.7
3.7
3.6
3.7
3.7
3.8
3.8
3.7
4.6
4.0
3.9
$
(112)
(119)
(89)
(46)
(63)
(104)
(62)
(81)
(58)
(6)
(2)
(3)
(17)
(28)
(11)
(2)
(7)
(33)
(53)
(20)
(10)
(8)
(16)
(16)
(54)
(15)
(45)
(77)
(24)
(161)
(18)
(32)
(68)
(26)
(144)
(6)
(15)
(11)
(26)
(58)
(27)
* Includes depreciation of PP&E and amortization of software.
** In addition to PP&E and software this primarily includes amortization of intangible assets acquired in business combinations (patents, goodwill, other).
Effective January 1, 2002, with the adoption of SFAS No. 142, goodwill and other indefinite-lived intangible assets are no longer amortized.
Other changes in net PP&E includes translation adjustments, acquisitions and other.
TOTAL
DEPR &
AMORTIZATION**
OTHER
$
(86) $
277
323
167
(60)
237
296
(64)
238
(49)
(93)
208
90
156
239
83
(194)
(69)
59
101
(135)
144
223
333
(94)
(64)
75
(16)
(99)
(5)
46
(194)
(185)
(338)
(203)
41
26
(40)
(176)
101
1,089
954
964
999
986
1,079
1,072
1,153
1,157
287
272
278
283
1,120
289
319
311
317
1,236
313
321
322
332
1,288
336
335
343
357
1,371
350
358
350
350
1,408
339
344
355
397
1,435
356
PAGE 9
CONSOLIDATED STATEMENT OF EQUITY ($ IN MILLIONS)
3M COMPANY SHAREHOLDERS
(SHARES IN 000)
COMMON STOCK
TREASURY
ISSUED
STOCK
PAR
SHARES
VALUE
SHARES
COST
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1st Qtr.
ACCUM.
OTHER
COMPREUNEARNED HENSIVE
COMPEN- INCOME
ENDING SATION
(LOSS)**
RETAINED EARNINGS
ADD'L
CASH
EQUITY
PAID IN
NET
DIVIDENDS
%
ENTRIES/
CAPITAL INCOME
PAID
PAYOUT
OTHER*
944,033 $
944,033
944,033
944,033
944,033
944,033
944,033
944,033
944,033
944,033
944,033
944,033
944,033
5
5
9
9
9
9
9
9
9
9
9
9
9
161,426 $ (4,633) $
163,642
(4,767)
159,916
(4,641)
170,515
(5,503)
189,495
(6,965)
209,670
(8,456)
234,877
(10,520)
250,490
(11,676)
233,434
(10,397)
230,965
(10,187)
230,899
(10,146)
229,174
(10,013)
232,055
(10,266)
1,220 $
1,495
1,734
2,041
2,220
2,484
2,789
3,006
3,153
3,260
3,336
3,381
3,468
944,033
944,033
944,033
944,033
9
9
9
9
233,456
234,497
243,188
249,063
(10,398)
(10,511)
(11,211)
(11,679)
3,599
3,683
3,725
3,767
944,033
944,033
944,033
944,033
9
9
9
9
250,161
252,714
252,102
256,941
(11,794)
(12,010)
(11,965)
(12,407)
3,894
3,954
3,998
4,044
944,033
944,033
944,033
944,033
9
9
9
9
253,838
260,565
270,763
280,737
(12,178)
(12,926)
(14,124)
(15,385)
4,179
4,243
4,309
4,375
944,033
944,033
944,033
944,033
9
9
9
9
289,755
296,064
303,214
308,898
(16,577)
(17,466)
(18,489)
(19,307)
4,545
4,641
4,277
4,379
944,033
944,033
944,033
944,033
9
9
9
9
309,692
319,288
328,320
334,703
(19,458)
(20,983)
(22,322)
(23,308)
4,607
4,685
4,731
4,791
1,278 $
1,831
2,279
2,833
3,104
3,851
4,096
3,460
3,193
930
1,121
1,106
928
4,085
1,081
1,160
1,088
954
4,283
1,125
1,167
1,161
991
4,444
1,129
1,197
1,230
1,103
4,659
1,207
1,267
1,303
1,179
4,956
1,199
1,300
1,296
1,038
4,833
1,275
(948)
(968)
(1,034)
(1,125)
(1,286)
(1,376)
(1,380)
(1,398)
(1,431)
(374)
(375)
(375)
(376)
(1,500)
(392)
(391)
(388)
(384)
(1,555)
(410)
(410)
(408)
(407)
(1,635)
(440)
(436)
(431)
(423)
(1,730)
(566)
(556)
(550)
(544)
(2,216)
(652)
(646)
(635)
(628)
(2,561)
(672)
74.2 % $
52.9
45.4
39.7
41.4
35.7
33.7
40.4
44.8
40.2
33.5
33.9
40.4
36.7
36.2
33.8
35.6
40.2
36.3
36.5
35.1
35.2
41.1
36.8
38.9
36.4
35.0
38.4
37.1
46.9
43.9
42.2
46.1
44.7
54.4
49.7
49.0
60.6
53.0
52.7
(113)
(226)
(179)
(315)
(307)
(256)
(332)
(130)
(236)
(78)
(189)
(26)
(50)
(343)
(163)
(180)
(26)
(6)
(375)
(205)
(150)
(68)
(55)
(478)
(295)
(118)
(103)
(676)
(1,192)
255
(187)
(105)
(802)
(839)
216
(119)
(41)
(70)
(14)
(393)
$
*
*
*
*
*
*
11,085
11,722
12,788
14,181
15,692
17,911
20,295
22,227
23,753
24,231
24,788
25,493
25,995
$
(286) $
(258)
(226)
(196)
(150)
(115)
(79)
(40)
0
0
0
0
0
NONCONTROLLING
INTEREST
(1,205) $
(2,026)
(1,554)
132
(411)
(1,873)
(747)
(3,646)
(3,754)
(3,747)
(4,016)
(3,366)
(3,543)
527
294
230
253
311
278
325
424
538
285
292
329
354
EQUITY NET
$
6,713
6,465
8,340
10,917
10,706
10,238
12,072
10,304
13,302
13,851
14,263
15,833
16,017
26,521
27,110
27,784
28,348
0
0
0
0
(3,237)
(2,961)
(3,339)
(5,025)
393
412
444
442
16,887
17,742
17,412
15,862
28,858
29,465
30,150
30,679
0
0
0
0
(4,785)
(5,012)
(4,548)
(4,750)
437
467
497
465
16,619
16,873
18,141
18,040
31,073
31,716
32,412
32,416
0
0
0
0
(5,001)
(5,166)
(4,810)
(3,913)
446
443
456
446
18,528
18,319
18,252
17,948
33,312
33,836
34,484
34,317
0
0
0
0
(3,841)
(3,666)
(4,108)
(6,289)
476
492
33
33
17,924
17,846
16,206
13,142
35,080
35,615
36,235
36,575
0
0
0
0
(6,321)
(6,233)
(6,467)
(6,359)
35
37
38
39
13,952
13,130
12,224
11,747
944,033
9
337,519
(23,716)
4,916
36,785
0
(6,261)
41
11,774
* All periods include the reissuance of common stock pursuant to stock option and benefit plans. In addition, 4th Qtr. and Year 2013 & 2014 equity entries/other was reduced by approximately $0.6 billion for dividends
declared in both 4th Qtr. 2013 & 2014, but not paid unitl 1st Qtr. 2014 & 2015, respectively. Equity entries/other shows an offsetting increase in 1st Qtr. 2014 & 2015 when the dividends were paid. Dividends reduce
retained earnings in the period declared, not when paid.
** Includes cumulative translation, unrealized gains and losses on debt and equity securities and on cash flow hedging instruments, and defined benefit pension and postretirement plans adjustments.
PAGE 10
CONSOLIDATED STATEMENT OF CASH FLOWS ($ IN MILLIONS)
CASH
FLOW
FROM
OPERATIONS
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
$
3 Mos.
6 Mos.
9 Mos.
12 Mos.
3 Mos.
6 Mos.
9 Mos.
12 Mos.
3 Mos.
6 Mos.
9 Mos.
12 Mos.
3 Mos.
6 Mos.
9 Mos.
12 Mos.
3 Mos.
6 Mos.
9 Mos.
12 Mos.
3 Mos.
6 Mos.
9 Mos.
12 Mos.
3 Mos.
3,066 $
2,970
3,736
4,228
4,204
3,839
4,246
4,533
4,941
1,082
2,220
3,543
5,174
733
2,184
3,546
5,284
828
2,217
3,562
5,300
994
2,673
3,824
5,817
1,092
2,732
4,443
6,626
1,080
2,418
4,082
6,420
1,260
CASH FLOW FROM INVESTING
CAPITAL
OTHER
EXPENDI- INVESTING
TURES
ACTIVITIES
TOTAL
(980) $
(763)
(677)
(937)
(943)
(1,168)
(1,422)
(1,471)
(903)
(157)
(337)
(565)
(1,091)
(231)
(526)
(862)
(1,379)
(261)
(619)
(977)
(1,484)
(324)
(718)
(1,122)
(1,665)
(293)
(634)
(1,003)
(1,493)
(291)
(661)
(1,015)
(1,461)
(314)
(70) $
(1,164)
(292)
(1)
(1,298)
(292)
55
(928)
(829)
(767)
(1,038)
(312)
(1,535)
(493)
(283)
(722)
(1,339)
218
(235)
(1,157)
(1,202)
(81)
(22)
420
809
6
55
425
897
291
827
(1,596)
(1,356)
34
(1,050) $
(1,927)
(969)
(938)
(2,241)
(1,460)
(1,367)
(2,399)
(1,732)
(924)
(1,375)
(877)
(2,626)
(724)
(809)
(1,584)
(2,718)
(43)
(854)
(2,134)
(2,686)
(405)
(740)
(702)
(856)
(287)
(579)
(578)
(596)
0
166
(2,611)
(2,817)
(280)
CASH FLOW FROM FINANCING
NET
CASH
DEBT
CHANGES
DIVI& OTHER
IN
DENDS
NET
STOCK
PAID
TOTAL
104 $
389
(426)
(72)
(507)
1,143
1,305
974
(997)
(95)
(5)
(191)
(496)
(3)
(49)
615
(321)
(1)
1,233
1,232
769
21
41
(170)
87
608
1,087
833
297
75
1,955
3,825
3,516
116
(860) $
(420)
(130)
(1,283)
(1,832)
(1,828)
(2,443)
(1,342)
414
131
(7)
90
(188)
(302)
(605)
(1,342)
(1,799)
(311)
(684)
(718)
(1,192)
(67)
(892)
(2,166)
(3,603)
(1,441)
(2,549)
(3,634)
(4,684)
(577)
(2,131)
(3,586)
(4,603)
(870)
(948) $
(968)
(1,034)
(1,125)
(1,286)
(1,376)
(1,380)
(1,398)
(1,431)
(374)
(749)
(1,124)
(1,500)
(392)
(783)
(1,171)
(1,555)
(410)
(820)
(1,228)
(1,635)
(440)
(876)
(1,307)
(1,730)
(566)
(1,122)
(1,672)
(2,216)
(652)
(1,298)
(1,933)
(2,561)
(672)
(1,704) $
(999)
(1,590)
(2,480)
(3,625)
(2,061)
(2,518)
(1,766)
(2,014)
(338)
(761)
(1,225)
(2,184)
(697)
(1,437)
(1,898)
(3,675)
(722)
(271)
(714)
(2,058)
(486)
(1,727)
(3,643)
(5,246)
(1,399)
(2,584)
(4,473)
(6,603)
(1,154)
(1,474)
(1,694)
(3,648)
(1,426)
EXCHANGE
RATE
EFFECTS
2 $
(42)
41
111
(23)
57
88
(415)
(4)
(12)
(102)
(15)
(27)
58
61
(65)
(49)
50
(3)
96
108
(58)
(147)
(22)
(17)
(33)
(25)
(44)
(111)
(32)
(24)
(69)
(54)
(15)
NET
CHANGE
IN CASH
& EQUIV.
314 $
2
1,218
921
(1,685)
375
449
(47)
1,191
(192)
(18)
1,426
337
(630)
(1)
(1)
(1,158)
113
1,089
810
664
45
59
(543)
(302)
(627)
(456)
(652)
(684)
(106)
1,086
(292)
(99)
(461)
ENDING
CASH
AND
EQUIV.
616
618
1,836
2,757
1,072
1,447
1,896
1,849
3,040
2,848
3,022
4,466
3,377
2,747
3,376
3,376
2,219
2,332
3,308
3,029
2,883
2,928
2,942
2,340
2,581
1,954
2,125
1,929
1,897
1,791
2,983
1,605
1,798
1,337
PAGE 11
SALES CHANGE ANALYSIS
ESTIMATED COMPONENTS OF SALES CHANGE FROM PRIOR YEAR
UNITED STATES
Organic
Volume
Organic
Local
Currency
Acquisitions
INTERNATIONAL
Translation
Total
Organic
Volume
Organic
Local
Currency
Acquisitions
Divestitures
WORLDWIDE
WORLDWIDE
Organic
Volume
Acquisitions
Divestitures
Translation
2010
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
10.8
8.7
5.8
3.5
7.1
0.1
0.0
0.2
0.1
0.1
10.9
8.7
6.0
3.6
7.2
0.8
0.8
0.0
2.7
1.1
0.0
0.0
0.0
0.0
0.0
------
11.7
9.5
6.0
6.3
8.3
24.5
23.4
13.7
11.1
17.6
0.3
(1.0)
(0.4)
(0.5)
(0.4)
24.8
22.4
13.3
10.6
17.2
0.2
0.6
0.7
1.4
0.8
(0.2)
(0.2)
(0.1)
0.0
(0.1)
8.2
(0.1)
0.0
(0.7)
1.5
33.0
22.7
13.9
11.3
19.4
19.2
17.8
10.8
8.6
13.7
0.2
(0.6)
(0.2)
(0.3)
(0.2)
19.4
17.2
10.6
8.3
13.5
0.4
0.7
0.5
1.8
0.9
(0.1)
(0.1)
(0.1)
0.0
(0.1)
5.0
(0.1)
0.0
(0.5)
1.0
24.7
17.7
11.0
9.6
15.3
2011
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
6.1
2.9
3.3
3.7
3.9
0.7
1.7
2.0
3.0
1.9
6.8
4.6
5.3
6.7
5.8
3.4
4.0
3.9
0.7
3.0
0.0
0.0
0.0
0.0
0.0
------
10.2
8.6
9.2
7.4
8.8
10.4
3.3
1.0
0.2
3.5
(0.2)
0.3
0.4
1.4
0.5
10.2
3.6
1.4
1.6
4.0
3.0
4.0
3.6
3.1
3.5
0.0
0.0
0.0
0.0
0.0
4.6
9.5
4.8
0.1
4.7
17.8
17.1
9.8
4.8
12.2
8.9
3.2
1.9
1.3
3.7
0.1
0.8
0.9
2.0
1.0
9.0
4.0
2.8
3.3
4.7
3.2
4.0
3.7
2.3
3.3
0.0
0.0
0.0
0.0
0.0
3.0
6.1
3.1
0.1
3.1
15.2
14.1
9.6
5.7
11.1
2012
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
3.2
0.7
0.6
3.8
2.1
2.6
2.9
1.7
1.4
2.1
5.8
3.6
2.3
5.2
4.2
0.5
0.4
0.5
1.9
0.8
0.0
0.0
0.0
0.0
0.0
------
6.3
4.0
2.8
7.1
5.0
(1.3)
(0.4)
1.3
3.6
0.8
1.3
1.4
0.7
0.3
0.9
0.0
1.0
2.0
3.9
1.7
1.9
0.6
0.6
0.3
0.8
0.0
0.0
0.0
0.0
0.0
(1.4)
(6.5)
(4.8)
(1.5)
(3.6)
0.5
(4.9)
(2.2)
2.7
(1.1)
0.1
0.0
1.1
3.6
1.2
1.7
1.9
1.1
0.7
1.4
1.8
1.9
2.2
4.3
2.6
1.5
0.5
0.5
0.9
0.8
0.0
0.0
0.0
0.0
0.0
(0.9)
(4.3)
(3.1)
(1.0)
(2.4)
2.4
(1.9)
(0.4)
4.2
1.0
2013
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
1.6
0.7
3.7
3.1
2.4
0.7
0.1
0.8
1.4
0.7
2.3
0.8
4.5
4.5
3.1
3.0
3.4
2.7
0.9
2.5
0.0
0.0
(0.1)
(0.1)
(0.1)
------
5.3
4.2
7.1
5.3
5.5
1.6
2.3
5.5
1.7
2.7
0.3
0.9
1.1
1.4
0.9
1.9
3.2
6.6
3.1
3.6
1.0
1.1
0.9
0.5
0.9
0.0
0.0
0.0
0.0
0.0
(2.7)
(2.1)
(2.7)
(2.7)
(2.5)
0.2
2.2
4.8
0.9
2.0
1.7
1.7
4.8
2.0
2.5
0.4
0.6
1.0
1.4
0.9
2.1
2.3
5.8
3.4
3.4
1.7
1.9
1.5
0.7
1.4
0.0
0.0
0.0
0.0
0.0
(1.8)
(1.3)
(1.7)
(1.7)
(1.6)
2.0
2.9
5.6
2.4
3.2
2014
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
2.2
3.6
5.8
6.3
4.4
0.4
0.9
0.2
0.3
0.5
2.6
4.5
6.0
6.6
4.9
0.0
0.2
0.2
0.3
0.2
(0.1)
(0.1)
0.0
0.0
(0.1)
------
2.5
4.6
6.2
6.9
5.0
4.1
3.7
1.8
5.2
3.8
1.6
1.4
0.9
0.9
1.2
5.7
5.1
2.7
6.1
5.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(3.1)
0.0
(1.9)
(6.9)
(3.0)
2.6
5.1
0.8
(0.8)
2.0
3.4
3.5
3.2
5.6
3.9
1.2
1.3
0.7
0.7
1.0
4.6
4.8
3.9
6.3
4.9
0.0
0.1
0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
(2.0)
0.0
(1.2)
(4.4)
(1.9)
2.6
4.9
2.8
2.0
3.1
2015
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Year
2.5
3.9
1.2
(1.0)
1.7
0.6
0.2
0.3
0.6
0.4
3.1
4.1
1.5
(0.4)
2.1
0.4
0.3
1.8
2.4
1.2
(0.3)
(0.3)
(0.3)
(0.7)
(0.4)
------
3.2
4.1
3.0
1.3
2.9
2.1
(0.8)
(0.4)
(2.9)
(0.5)
1.3
1.4
1.6
1.6
1.4
3.4
0.6
1.2
(1.3)
0.9
0.0
0.0
0.7
1.5
0.5
(0.1)
(0.1)
(0.1)
(0.3)
(0.1)
(10.0)
(11.4)
(12.0)
(9.4)
(10.7)
(6.7)
(10.9)
(10.2)
(9.5)
(9.4)
2.3
0.8
0.1
(2.3)
0.2
1.0
1.0
1.1
1.2
1.1
3.3
1.8
1.2
(1.1)
1.3
0.1
0.1
1.1
1.9
0.8
(0.1)
(0.1)
(0.1)
(0.4)
(0.2)
(6.5)
(7.3)
(7.4)
(5.8)
(6.8)
(3.2)
(5.5)
(5.2)
(5.4)
(4.9)
2016
1st Qtr.
0.3
0.0
0.3
2.6
(0.6)
--
2.3
(3.0)
1.4
(1.6)
1.8
(0.4)
(4.8)
(5.0)
(1.7)
0.9
(0.8)
2.1
(0.5)
(3.0)
Price
Divestitures
Price
Translation
Total
Price
Organic
Local
Currency
Total
(2.2)
PAGE 12
REFLECTS BUSINESS SEGMENT STRUCTURE EFFECTIVE FIRST QUARTER 2016
Worldwide Sales Change by Business Segment
Total Sales Change % in USD
1st Qtr. 11
2nd Qtr. 11
3rd Qtr. 11
4th Qtr. 11
1st Qtr. 12
2nd Qtr. 12
3rd Qtr. 12
4th Qtr. 12
1st Qtr. 13
2nd Qtr. 13
3rd Qtr. 13
4th Qtr. 13
1st Qtr. 14
2nd Qtr. 14
3rd Qtr. 14
4th Qtr. 14
1st Qtr. 15
2nd Qtr. 15
3rd Qtr. 15
4th Qtr. 15
1st Qtr. 16
Year 2011
Year 2012
Year 2013
Year 2014
Year 2015
Industrial
18.7
23.1
17.8
14.6
9.1
(0.6)
0.7
4.4
4.5
6.6
8.6
6.1
3.3
4.9
2.9
1.3
(4.4)
(6.5)
(7.7)
(6.6)
(3.0)
18.5
3.3
6.4
3.1
(6.3)
Safety and Graphics
14.0
16.0
12.2
6.1
4.2
(1.8)
(2.0)
0.4
2.0
2.1
6.6
2.4
1.7
4.1
1.3
3.4
(3.6)
(4.1)
(2.2)
(5.3)
2.9
12.1
0.1
3.3
2.7
(3.8)
Electronics and Energy
16.6
3.2
(4.1)
(6.7)
(10.2)
(8.4)
(3.3)
3.9
(3.0)
(3.1)
2.5
(1.0)
2.2
6.1
3.6
3.6
1.1
(7.8)
(7.0)
(11.2)
(13.6)
1.8
(4.8)
(1.1)
3.9
(6.3)
Health Care
12.8
14.4
14.1
5.3
2.0
1.1
1.5
5.6
2.8
4.6
5.5
2.4
4.8
5.9
4.7
2.4
(3.3)
(3.7)
(3.2)
(0.8)
4.0
11.5
2.5
3.8
4.5
(2.7)
Consumer
9.6
8.8
6.6
6.1
4.2
1.9
1.2
7.8
2.0
1.4
2.1
(0.9)
(0.2)
3.7
2.1
2.2
(2.9)
(2.5)
(1.2)
(2.4)
0.1
7.7
3.7
1.1
2.0
(2.2)
Worldwide
15.2
14.1
9.6
5.7
2.4
(1.9)
(0.4)
4.2
2.0
2.9
5.6
2.4
2.6
4.9
2.8
2.0
(3.2)
(5.5)
(5.2)
(5.4)
(2.2)
11.1
1.0
3.2
3.1
(4.9)
Organic Local Currency % (Volume & Price)
1st Qtr. 11
2nd Qtr. 11
3rd Qtr. 11
4th Qtr. 11
1st Qtr. 12
2nd Qtr. 12
3rd Qtr. 12
4th Qtr. 12
1st Qtr. 13
2nd Qtr. 13
3rd Qtr. 13
4th Qtr. 13
1st Qtr. 14
2nd Qtr. 14
3rd Qtr. 14
4th Qtr. 14
1st Qtr. 15
2nd Qtr. 15
3rd Qtr. 15
4th Qtr. 15
1st Qtr. 16
Year 2011
Year 2012
Year 2013
Year 2014
Year 2015
Industrial
11.7
8.7
7.2
8.5
7.1
4.4
4.6
4.4
2.9
3.3
6.2
5.8
5.1
4.6
4.1
5.8
2.6
1.4
(0.4)
(2.1)
(1.9)
8.9
5.2
4.5
4.9
0.4
Safety and Graphics
6.1
3.7
4.6
6.2
5.3
3.3
1.3
(0.6)
2.1
1.8
8.0
4.7
4.6
4.7
3.1
9.2
4.1
4.9
2.9
(2.5)
2.4
5.2
2.3
4.1
5.4
2.4
Electronics and Energy
14.2
(0.9)
(6.5)
(7.2)
(10.0)
(6.3)
(1.8)
4.4
(1.9)
(2.0)
3.8
0.4
3.6
6.3
4.4
6.5
6.0
(2.9)
(1.7)
(7.3)
(11.7)
(0.5)
(3.7)
0.1
5.2
(1.5)
Health Care
4.7
2.9
5.6
5.3
3.1
5.4
4.4
5.9
4.0
5.7
6.8
3.6
6.2
5.1
5.4
6.4
3.0
3.4
3.7
4.5
6.2
4.6
4.7
5.0
5.8
3.7
Consumer
4.9
3.8
4.2
3.1
2.1
2.7
1.1
8.8
3.7
2.9
4.2
1.3
2.6
4.2
3.1
5.8
2.1
3.4
5.0
2.7
2.8
4.0
3.6
3.0
3.9
3.4
Worldwide
9.0
4.0
2.8
3.3
1.8
1.9
2.2
4.3
2.1
2.3
5.8
3.4
4.6
4.8
3.9
6.3
3.3
1.8
1.2
(1.1)
(0.8)
4.7
2.6
3.4
4.9
1.3
Acquisitions %
1st Qtr. 11
2nd Qtr. 11
3rd Qtr. 11
4th Qtr. 11
1st Qtr. 12
2nd Qtr. 12
3rd Qtr. 12
4th Qtr. 12
1st Qtr. 13
2nd Qtr. 13
3rd Qtr. 13
4th Qtr. 13
1st Qtr. 14
2nd Qtr. 14
3rd Qtr. 14
4th Qtr. 14
1st Qtr. 15
2nd Qtr. 15
3rd Qtr. 15
4th Qtr. 15
1st Qtr. 16
Year 2011
Year 2012
Year 2013
Year 2014
Year 2015
Industrial
3.7
7.4
7.1
6.1
3.2
0.2
0.0
1.3
3.5
4.6
4.1
2.0
0.0
0.0
0.0
0.0
0.0
0.0
0.7
1.7
2.0
6.1
1.1
3.6
0.0
0.6
Safety and Graphics
4.4
4.9
3.9
0.0
0.1
0.0
0.5
2.1
2.2
1.9
0.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4.2
6.4
6.9
3.3
0.6
1.3
0.0
2.6
Electronics and Energy
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Health Care
5.1
5.0
5.4
0.0
0.0
0.4
0.4
0.5
0.4
0.0
0.0
0.0
0.0
0.4
0.5
0.6
0.7
0.7
0.9
0.8
0.9
3.8
0.3
0.1
0.4
0.8
Consumer
2.1
0.2
0.1
3.1
2.9
2.6
2.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.3
2.0
0.0
0.0
0.0
Worldwide
3.2
4.0
3.7
2.3
1.5
0.5
0.5
0.9
1.7
1.9
1.5
0.7
0.0
0.1
0.1
0.1
0.1
0.1
1.1
1.9
2.1
3.3
0.8
1.4
0.1
0.8
Year 2015
0.0
Divestitures %
1st Qtr. 11
2nd Qtr. 11
3rd Qtr. 11
4th Qtr. 11
1st Qtr. 12
2nd Qtr. 12
3rd Qtr. 12
4th Qtr. 12
1st Qtr. 13
2nd Qtr. 13
3rd Qtr. 13
4th Qtr. 13
1st Qtr. 14
2nd Qtr. 14
3rd Qtr. 14
4th Qtr. 14
1st Qtr. 15
2nd Qtr. 15
3rd Qtr. 15
4th Qtr. 15
1st Qtr. 16
Year 2011
Year 2012
Year 2013
Year 2014
Industrial
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(0.1)
0.0
0.0
0.0
0.0
0.0
Safety and Graphics
0.0
0.0
0.0
0.0
0.0
0.0
(0.1)
(0.1)
(0.1)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(1.8)
(2.4)
0.0
0.0
0.0
0.0
(0.4)
0.0
(0.8)
Electronics and Energy
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(0.9)
(0.7)
(0.8)
(0.7)
0.0
0.0
0.0
Health Care
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Consumer
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(0.1)
0.0
(0.2)
0.0
(0.2)
0.0
(0.3)
0.0
(0.2)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(0.1)
0.0
(0.1)
0.0
Worldwide
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(0.1)
(0.1)
(0.1)
(0.4)
(0.5)
0.0
0.0
0.0
0.0
(0.2)
0.0
Translation %
1st Qtr. 11
2nd Qtr. 11
3rd Qtr. 11
4th Qtr. 11
1st Qtr. 12
2nd Qtr. 12
3rd Qtr. 12
4th Qtr. 12
1st Qtr. 13
2nd Qtr. 13
3rd Qtr. 13
4th Qtr. 13
1st Qtr. 14
2nd Qtr. 14
3rd Qtr. 14
4th Qtr. 14
1st Qtr. 15
2nd Qtr. 15
3rd Qtr. 15
4th Qtr. 15
1st Qtr. 16
Year 2011
Year 2012
Year 2013
Year 2014
Year 2015
Industrial
3.3
7.0
3.5
0.0
(1.2)
(5.2)
(3.9)
(1.3)
(1.9)
(1.3)
(1.7)
(1.7)
(1.8)
0.3
(1.2)
(4.5)
(7.0)
(7.9)
(8.0)
(6.2)
(3.0)
3.5
(3.0)
(1.7)
(1.8)
(7.3)
Safety and Graphics
3.5
7.4
3.7
(0.1)
(1.2)
(5.1)
(3.7)
(1.0)
(2.2)
(1.6)
(2.3)
(2.3)
(2.9)
(0.6)
(1.8)
(5.8)
(7.7)
(9.0)
(9.3)
(7.4)
(4.0)
3.6
(2.8)
(2.1)
(2.7)
(8.4)
Electronics and Energy
2.4
4.0
2.4
0.5
(0.2)
(2.1)
(1.5)
(0.5)
(1.1)
(1.1)
(1.3)
(1.4)
(1.4)
(0.2)
(0.8)
(2.9)
(4.0)
(4.2)
(4.5)
(3.2)
(1.9)
2.3
(1.1)
(1.2)
(1.3)
(4.0)
Health Care
3.0
6.5
3.1
0.0
(1.1)
(4.7)
(3.3)
(0.8)
(1.6)
(1.1)
(1.3)
(1.2)
(1.4)
0.4
(1.2)
(4.6)
(7.0)
(7.8)
(7.8)
(6.1)
(3.1)
3.1
(2.5)
(1.3)
(1.7)
(7.2)
Consumer
2.6
4.8
2.3
(0.1)
(0.8)
(3.4)
(2.3)
(1.0)
(1.7)
(1.4)
(1.9)
(2.0)
(2.5)
(0.3)
(1.0)
(3.6)
(5.0)
(5.9)
(6.2)
(5.1)
(2.7)
2.4
(1.9)
(1.8)
(1.8)
(5.6)
Worldwide
3.0
6.1
3.1
0.1
(0.9)
(4.3)
(3.1)
(1.0)
(1.8)
(1.3)
(1.7)
(1.7)
(2.0)
0.0
(1.2)
(4.4)
(6.5)
(7.3)
(7.4)
(5.8)
(3.0)
3.1
(2.4)
(1.6)
(1.9)
(6.8)
Page 13
GEOGRAPHIC AREAS ($ IN MILLIONS)
United
States
Asia
Pacific
Europe,
Middle East
and Africa
Latin America
and
Canada
Other
Unallocated
Total
Company
Net Sales
2015
2014
2013
$12,049
11,714
11,151
$9,041
9,418
9,047
$6,228
7,198
7,085
$2,982
3,504
3,611
($26)
(13)
(23)
$30,274
31,821
30,871
Operating
Income
2015
2014
2013
$2,647
2,540
2,210
$2,580
2,487
2,386
$1,017
1,234
1,168
$706
867
908
($4)
7
(6)
$6,946
7,135
6,666
PAGE 14
REFLECTS BUSINESS SEGMENT STRUCTURE EFFECTIVE FIRST QUARTER 2016
BUSINESS SEGMENT DATA ($ IN MILLIONS)
SALES
Industrial
Safety and Graphics
Health Care
Electronics and Energy
Consumer
Corporate and Unallocated
Elimination of Dual Credit
Total
2013
1st Qtr
$
2,689
1,399
1,311
1,281
1,081
2
(129)
$
7,634
2013
2nd Qtr
$
2,682
1,434
1,336
1,340
1,098
2
(140)
$
7,752
2013
3rd Qtr
$
2,693
1,429
1,328
1,450
1,153
1
(138)
$
7,916
2013
4th Qtr
$
2,589
1,322
1,359
1,326
1,103
3
(133)
$
7,569
2014
1st Qtr
$
2,778
1,423
1,374
1,309
1,079
3
(135)
$
7,831
2014
2nd Qtr
$
2,814
1,494
1,416
1,422
1,139
(151)
$
8,134
2014
3rd Qtr
$
2,770
1,448
1,390
1,503
1,177
2
(153)
$
8,137
2014
4th Qtr
$
2,623
1,367
1,392
1,374
1,128
(165)
$
7,719
2015
1st Qtr
$
2,656
1,372
1,329
1,324
1,048
2
(153)
$
7,578
2015
2nd Qtr
$
2,632
1,432
1,364
1,312
1,111
(4)
(161)
$
7,686
2015
3rd Qtr
$
2,557
1,417
1,346
1,397
1,162
1
(168)
$
7,712
2015
4th Qtr
$
2,450
1,294
1,381
1,220
1,101
2
(150)
$
7,298
2016
1st Qtr
$
2,576
1,412
1,383
1,144
1,049
1
(156)
$
7,409
2013
2014
2015
Year
Year
Year
$ 10,653 $ 10,985 $ 10,295
5,584
5,732
5,515
5,334
5,572
5,420
5,397
5,608
5,253
4,435
4,523
4,422
8
5
1
(540)
(604)
(632)
$ 30,871 $ 31,821 $ 30,274
$
$
$
$
$
$
$
$
$
$
$
$
$
$
OPERATING INCOME (REPORTED)
Industrial
Safety and Graphics
Health Care
Electronics and Energy
Consumer
Corporate and Unallocated
Elimination of Dual Credit
Total
$
576
332
404
199
237
(74)
(28)
1,646
$
601
328
417
239
235
(87)
(31)
1,702
$
570
313
426
301
247
(88)
(30)
1,739
$
554
254
425
222
226
(73)
(29)
1,579
$
616
318
427
229
228
(72)
(30)
1,716
$
615
353
434
294
241
(48)
(33)
1,856
$
614
340
432
340
272
(63)
(34)
1,901
$
536
285
431
259
254
(67)
(36)
1,662
$
596
335
408
285
240
(100)
(34)
1,730
$
608
364
440
278
259
(74)
(35)
1,840
$
578
324
432
344
293
(58)
(37)
1,876
$
474
282
444
202
254
(123)
(33)
1,500
$
617
345
455
208
238
(41)
(34)
1,788
$
2,301 $
1,227
1,672
961
945
(322)
(118)
6,666 $
2,381 $
1,296
1,724
1,122
995
(250)
(133)
7,135 $
2,256
1,305
1,724
1,109
1,046
(355)
(139)
6,946
OPERATING INCOME % (REPORTED)
Industrial
Safety and Graphics
Health Care
Electronics and Energy
Consumer
Total
21.4%
23.7%
30.8%
15.5%
21.9%
22.4%
22.9%
31.2%
17.8%
21.4%
21.2%
21.9%
32.1%
20.8%
21.5%
21.4%
19.2%
31.2%
16.7%
20.4%
22.2%
22.3%
31.1%
17.5%
21.2%
21.9%
23.6%
30.7%
20.7%
21.1%
22.2%
23.5%
31.0%
22.6%
23.2%
20.4%
20.8%
31.0%
18.9%
22.5%
22.4%
24.4%
30.7%
21.5%
22.9%
23.1%
25.4%
32.3%
21.3%
23.3%
22.6%
22.9%
32.1%
24.7%
25.2%
19.3%
21.8%
32.1%
16.6%
23.1%
23.9%
24.5%
32.9%
18.2%
22.7%
21.6%
22.0%
31.3%
17.8%
21.3%
21.7%
22.6%
30.9%
20.0%
22.0%
21.9%
23.7%
31.8%
21.1%
23.7%
21.6%
22.0%
22.0%
20.9%
21.9%
22.8%
23.4%
21.5%
22.8%
23.9%
24.3%
20.5%
24.1%
21.6%
22.4%
22.9%
PAGE 15
NOTES
1. All share and per share data have been adjusted for stock splits.
Year of
Split
2003
1994
1987
1972
1960
1956
1951
1945
1922
1920
Ratio
2 for 1
2 for 1
2 for 1
2 for 1
3 for 1
2 for 1
4 for 1
2 for 1
2 for 1
2 for 1
One original share,
if held, is now
3,072 shares
8. Year 2006 included net gains related to the sale of businesses and favorable income
tax adjustments, net of restructuring and other items. Year 2006 net gains totaled
$523 million ($438 million after tax). Numbers are shown: a) as reported, and b)
excluding these net gains.
9. Year 2007 included net gains related to the sale of businesses and real estate, which
were partially offset by increases in environmental liabilities, restructuring actions and
other exit activities. Year 2007 net gains totaled $681 million ($448 million after tax).
Numbers are shown: a) as reported, and b) excluding these net gains.
10. Year 2008 included net losses related to restructuring actions, exit activities and
the sale of HighJump Software, which were partially offset by a gain on sale of real
estate. Year 2008 net losses totaled $269 million ($194 million after tax and noncontrolling interest). Numbers are shown: a) as reported, and b) excluding these net losses.
2. 3M Stock is formally listed on the following stock exchanges:
New York
since 1945
Chicago
since 1964
Swiss
since 1967
11. Year 2009 included net losses related to restructuring actions, which were partially
offset by a gain on sale of real estate. Year 2009 net losses totaled $194 million
($119 million after tax and noncontrolling interest). Numbers are shown: a) as reported,
and b) excluding these net losses.
3. Year 2001 included net losses that reduced operating income by $504 million
($312 million after tax and noncontrolling interest), principally related to charges
in connection with 3M's restructuring plan, acquisition-related charges, a reversal
of a 1999 litigation accrual, and a net gain related to the sale of available-for-sale
equity securities, partially offset by the write-down of available-for-sale
equity securitites. Numbers are shown: a) as reported,
and b) excluding these losses.
12. The first quarter of 2010 included an income tax charge of $84 million, resulting
from the March 2010 enactment of the Patient Protection and Affordable Care Act,
including modifications made in the Health Care and Education Reconciliation
Act of 2010.
4. Year 2002 included restructuring-related costs totaling $202 million ($108 million
after tax and noncontrolling interest). Numbers are shown: a) as reported,
and b) excluding these losses.
13. In the fourth quarter of 2015, certain balance sheet amounts relative to prior periods
have been reclassified to conform to the December 31, 2015 presentation. This included
classification of certain marketable securities previously classified as non-current to current
and the adoption of accounting standards which impacted the classification of deferred taxes,
in addition to debt issuance costs being reflected as a deduction from the related debt
liability rather than as an asset.
5. The first quarter of 2003 included charges of $93 million ($58 million after tax)
related to an adverse court ruling associated with a lawsuit filed by LePage's Inc.
Numbers are shown: a) as reported, and b) excluding this loss.
6. The second quarter of 2005 included charges of $75 million after tax, related to
a tax liability resulting from 3M's reinvestment of approximately $1.7 billion of
foreign earnings into the United States pursuant to the repatriation provisions of
cumulative effect of accounting change that reduced net income by $35 million
related to the adoption of an accounting standard for asset retirement obligations.
Numbers are shown: a) as reported, and b) excluding these losses.
7. Effective January 1, 2006, 3M adopted an accounting standard that required
3M to expense stock-based compensation. The Company adopted this standard
using the modified retrospective method. Thus, effective January 1, 2006, prior
periods were revised to reflect the impact of this standard on previously reported
results.
PAGE 16
MISCELLANEOUS DATA ($ IN MILLIONS)
2015
International Sales
Percent of Total Sales
2014
2013
2012
2011
$18,225
60 %
$20,107
63 %
$19,720
64 %
$19,333
65 %
$19,540
66 %
Salaries, Wages and Other Compensation
Percent of Sales
$6,718
22.2 %
$6,935
21.8 %
$6,653
21.6 %
$6,256
20.9 %
$6,163
20.8 %
Total Employees Costs Including Benefit Programs
and Government Social Taxes
Percent of Sales
$8,791
29.0 %
$8,836
27.8 %
$8,732
28.3 %
$8,347
27.9 %
$8,059
27.2 %
Research, Development and Related Expenditures
Percent of Sales
$1,763
5.8 %
$1,770
5.6 %
$1,715
5.6 %
$1,634
5.5 %
$1,570
5.3 %
Number of Stockholders at Year-end
84,808
87,788
91,721
96,719
100,896
Number of Employees at Year-end
United States
International
Total
35,973
53,473
89,446
35,581
54,219
89,800
34,719
53,948
88,667
34,851
52,826
87,677
33,246
50,952
84,198
PAGE 17
SUMMARY OF LOCATIONS
(as of December 31, 2015)
Plant
Locations
United States
International
88
127
Total
215
INTERNATIONAL OPERATIONS IN OVER 70 PRINCIPAL LOCATIONS
Argentina
Australia
Austria
Belgium
Brazil
Bulgaria
Canada
Chile
China
Colombia
Costa Rica
Cesko Spol
Denmark
Dominican Republic
Ecuador
Egypt
El Salvador
Estonia
Finland
France
Germany
Greece
Guatemala
Hong Kong
Hungary
India
Indonesia
Ireland
Israel
Italy
Jamaica
Japan
Kazakhstan
Kenya
Korea
Latvia
Lithuania
Malaysia
Mexico
Morocco
Netherlands
New Zealand
Nigeria
Norway
Pakistan
Panama
Peru
Philippines
Poland
Portugal
Romania
Russia
Saudi Arabia
Singapore
Slovakia
South Africa
Spain
Sri-Lanka
Sweden
Switzerland
Switzerland East
Taiwan
Thailand
Trinidad/Tobago
Turkey
Ukraine
United Arab Emirates
United Kingdom
Uruguay
Venezuela
Vietnam
PAGE 18
FIRST QUARTER 2016
We have prepared this databook in response to frequent
requests for historical financial data. It is not, of
course, intended for use as a prospectus. If you have any
questions, I would welcome your call (651) 736-0041.
Nicholas C. Gangestad
Senior Vice President and Chief Financial Officer
3M Center, 220-14E-15
St. Paul, Minnesota 55144-1000
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