2021 Q4 Form 8-K Financial Statement

#000006674022000038 Filed on April 26, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021
Revenue $8.612B $8.942B $35.36B
YoY Change 0.34% 7.09% 9.85%
Cost Of Revenue $4.697B $4.853B $18.80B
YoY Change 7.04% 12.78% 13.19%
Gross Profit $3.915B $4.089B $16.56B
YoY Change -6.67% 1.04% 6.3%
Gross Profit Margin 45.46% 45.73% 46.84%
Selling, General & Admin $1.810B $1.819B $7.197B
YoY Change -0.06% 8.47% 3.87%
% of Gross Profit 46.23% 44.49% 43.46%
Research & Development $472.0M $480.0M $1.243B
YoY Change 5.12% 4.12% 8.46%
% of Gross Profit 12.06% 11.74% 7.51%
Depreciation & Amortization $507.0M $476.0M $1.915B
YoY Change 1.81% -1.04% 0.21%
% of Gross Profit 12.95% 11.64% 11.56%
Operating Expenses $2.282B $1.819B $8.440B
YoY Change 0.97% 8.47% 4.52%
Operating Profit $1.633B $1.788B $7.369B
YoY Change -15.61% -6.34% 2.9%
Interest Expense -$110.0M $117.0M $488.0M
YoY Change -12.7% -8.59% -7.75%
% of Operating Profit -6.74% 6.54% 6.62%
Other Income/Expense, Net $58.00M -$31.00M -$165.0M
YoY Change -2033.33% -62.65% -54.92%
Pretax Income $1.564B $1.757B $3.716B
YoY Change -8.54% -3.78% -2.08%
Income Tax $227.0M $324.0M $1.285B
% Of Pretax Income 14.51% 18.44% 34.58%
Net Earnings $1.339B $1.434B $5.921B
YoY Change -3.6% 0.28% 8.66%
Net Earnings / Revenue 15.55% 16.04% 16.75%
Basic Earnings Per Share $2.47 $10.23
Diluted Earnings Per Share $2.309M $2.45 $10.12
COMMON SHARES
Basic Shares Outstanding 579.6M shares 579.0M shares
Diluted Shares Outstanding 586.3M shares 585.3M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.765B $5.733B $4.765B
YoY Change -5.98% 24.77% -5.42%
Cash & Equivalents $4.564B $4.878B $4.564B
Short-Term Investments $201.0M $855.0M $201.0M
Other Short-Term Assets $339.0M $326.0M $993.0M
YoY Change 4.31% -23.47% -0.7%
Inventory $4.985B $4.950B $4.985B
Prepaid Expenses $654.0M $501.0M
Receivables $4.660B $4.916B $4.660B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $15.40B $16.43B $15.40B
YoY Change 2.81% 16.41% 2.81%
LONG-TERM ASSETS
Property, Plant & Equipment $9.429B $9.323B $10.29B
YoY Change 0.08% 1.16% 0.02%
Goodwill $13.49B $13.60B
YoY Change -2.29% 0.46%
Intangibles $5.288B $5.426B
YoY Change -9.37% -8.44%
Long-Term Investments $129.0M $129.0M
YoY Change -3.73% -3.73%
Other Assets $2.608B $2.666B $2.346B
YoY Change 6.89% 51.56% 5.39%
Total Long-Term Assets $31.67B $31.85B $31.67B
YoY Change -2.14% 1.83% -2.14%
TOTAL ASSETS
Total Short-Term Assets $15.40B $16.43B $15.40B
Total Long-Term Assets $31.67B $31.85B $31.67B
Total Assets $47.07B $48.28B $47.07B
YoY Change -0.57% 6.36% -0.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.994B $2.862B $2.994B
YoY Change 16.91% 29.62% 16.91%
Accrued Expenses $1.283B $1.281B $2.637B
YoY Change 27.92% 31.65% 19.16%
Deferred Revenue $529.0M $467.0M
YoY Change 6.22% 19.74%
Short-Term Debt $0.00 $0.00 $16.00M
YoY Change 33.33%
Long-Term Debt Due $1.291B $1.972B $1.298B
YoY Change 62.59% 68.69% 59.07%
Total Short-Term Liabilities $9.035B $9.635B $9.035B
YoY Change 13.68% 30.03% 13.68%
LONG-TERM LIABILITIES
Long-Term Debt $16.06B $16.19B $16.15B
YoY Change -10.75% -12.13% -10.69%
Other Long-Term Liabilities $3.403B $3.353B $4.989B
YoY Change -1.7% 0.87% -23.7%
Total Long-Term Liabilities $19.46B $19.55B $21.14B
YoY Change -9.29% -10.15% -14.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.035B $9.635B $9.035B
Total Long-Term Liabilities $19.46B $19.55B $21.14B
Total Liabilities $31.96B $33.75B $32.03B
YoY Change -7.14% 0.9% -7.11%
SHAREHOLDERS EQUITY
Retained Earnings $45.82B $45.36B
YoY Change 4.56% 4.8%
Common Stock $6.438B $6.392B
YoY Change 4.33% 4.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.05B $14.46B $15.05B
YoY Change
Total Liabilities & Shareholders Equity $47.07B $48.28B $47.07B
YoY Change -0.57% 6.36% -0.57%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021
OPERATING ACTIVITIES
Net Income $1.339B $1.434B $5.921B
YoY Change -3.6% 0.28% 8.66%
Depreciation, Depletion And Amortization $507.0M $476.0M $1.915B
YoY Change 1.81% -1.04% 0.21%
Cash From Operating Activities $2.005B $1.874B $7.454B
YoY Change -20.28% -24.44% -8.12%
INVESTING ACTIVITIES
Capital Expenditures -$556.0M -$343.0M $1.603B
YoY Change 31.75% -6.79% 6.8%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $671.0M -$46.00M -$31.00M
YoY Change 311.66% -70.32% 210.0%
Cash From Investing Activities $115.0M -$389.0M -$1.317B
YoY Change -144.4% -25.62% 127.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.199B
YoY Change 497.55%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.412B -1.299B -$6.145B
YoY Change 33.85% -38.05% 15.94%
NET CHANGE
Cash From Operating Activities 2.005B 1.874B $7.454B
Cash From Investing Activities 115.0M -389.0M -$1.317B
Cash From Financing Activities -2.412B -1.299B -$6.145B
Net Change In Cash -292.0M 186.0M -$70.00M
YoY Change -164.32% -232.86% -103.07%
FREE CASH FLOW
Cash From Operating Activities $2.005B $1.874B $7.454B
Capital Expenditures -$556.0M -$343.0M $1.603B
Free Cash Flow $2.561B $2.217B $5.851B
YoY Change -12.8% -22.16% -11.51%

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of estimates:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Company considered the coronavirus (COVID-19) related impacts on its estimates, as appropriate, within its consolidated financial statements and there may be changes to those estimates in future periods. 3M believes that the accounting estimates are appropriate after giving consideration to the increased uncertainties surrounding the severity and duration of the COVID-19 pandemic. Such estimates and assumptions are subject to inherent uncertainties which may result in actual amounts differing from these estimates.</span>
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2021 us-gaap Number Of Reportable Segments
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CY2021 us-gaap Number Of Reportable Segments
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CY2021 us-gaap Operating Income Loss
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CY2019 us-gaap Operating Income Loss
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CY2021 us-gaap Nonoperating Income Expense
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CY2020 us-gaap Nonoperating Income Expense
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CY2019 us-gaap Nonoperating Income Expense
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2021Q4 us-gaap Assets
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CY2020Q4 us-gaap Assets
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CY2021 us-gaap Depreciation Depletion And Amortization
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CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1603000000 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1501000000 usd
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1699000000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
9429000000 usd
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
9421000000 usd

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