$MMM
3M CO

2023 Q1 Form 10-Q Financial Statement

#000006674023000028 Filed on April 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q1
Revenue $8.031B
YoY Change -9.04%
Cost Of Revenue $4.613B
YoY Change -4.41%
Gross Profit $3.418B
YoY Change -14.61%
Gross Profit Margin 42.56%
Selling, General & Admin $1.705B
YoY Change -9.4%
% of Gross Profit 49.88%
Research & Development $472.0M
YoY Change -0.42%
% of Gross Profit 13.81%
Depreciation & Amortization $466.0M
YoY Change 1.53%
% of Gross Profit 13.63%
Operating Expenses $1.705B
YoY Change -9.4%
Operating Profit $1.241B
YoY Change -24.38%
Interest Expense $123.0M
YoY Change 8.85%
% of Operating Profit 9.91%
Other Income/Expense, Net -$52.00M
YoY Change 36.84%
Pretax Income $1.189B
YoY Change -25.83%
Income Tax $210.0M
% Of Pretax Income 17.66%
Net Earnings $976.0M
YoY Change -24.87%
Net Earnings / Revenue 12.15%
Basic Earnings Per Share $1.77
Diluted Earnings Per Share $1.76
COMMON SHARES
Basic Shares Outstanding 550.5M shares
Diluted Shares Outstanding 553.2M shares

Balance Sheet

Concept 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.969B
YoY Change 18.16%
Cash & Equivalents $3.824B
Short-Term Investments $145.0M
Other Short-Term Assets $492.0M
YoY Change 15.22%
Inventory $5.306B
Prepaid Expenses $558.0M
Receivables $4.638B
Other Receivables $0.00
Total Short-Term Assets $14.96B
YoY Change 3.54%
LONG-TERM ASSETS
Property, Plant & Equipment $9.247B
YoY Change -1.51%
Goodwill $12.86B
YoY Change -3.84%
Intangibles $4.585B
YoY Change -10.82%
Long-Term Investments
YoY Change
Other Assets $4.353B
YoY Change 64.89%
Total Long-Term Assets $31.92B
YoY Change 1.66%
TOTAL ASSETS
Total Short-Term Assets $14.96B
Total Long-Term Assets $31.92B
Total Assets $46.89B
YoY Change 2.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.130B
YoY Change -1.07%
Accrued Expenses $867.0M
YoY Change -3.56%
Deferred Revenue $520.0M
YoY Change -5.28%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.012B
YoY Change 60.47%
Total Short-Term Liabilities $10.56B
YoY Change 15.34%
LONG-TERM LIABILITIES
Long-Term Debt $12.95B
YoY Change -12.52%
Other Long-Term Liabilities $5.448B
YoY Change 55.75%
Total Long-Term Liabilities $18.40B
YoY Change 0.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.56B
Total Long-Term Liabilities $18.40B
Total Liabilities $31.54B
YoY Change 2.22%
SHAREHOLDERS EQUITY
Retained Earnings $47.97B
YoY Change 4.15%
Common Stock $6.825B
YoY Change 3.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.30B
YoY Change
Total Liabilities & Shareholders Equity $46.89B
YoY Change 2.25%

Cashflow Statement

Concept 2023 Q1
OPERATING ACTIVITIES
Net Income $976.0M
YoY Change -24.87%
Depreciation, Depletion And Amortization $466.0M
YoY Change 1.53%
Cash From Operating Activities $1.275B
YoY Change 26.11%
INVESTING ACTIVITIES
Capital Expenditures $475.0M
YoY Change 12.03%
Acquisitions
YoY Change
Other Investing Activities $89.00M
YoY Change
Cash From Investing Activities -$386.0M
YoY Change 46.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$716.0M
YoY Change -65.14%
NET CHANGE
Cash From Operating Activities $1.275B
Cash From Investing Activities -$386.0M
Cash From Financing Activities -$716.0M
Net Change In Cash $169.0M
YoY Change -112.83%
FREE CASH FLOW
Cash From Operating Activities $1.275B
Capital Expenditures $475.0M
Free Cash Flow $800.0M
YoY Change 36.29%

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CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
27000000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
30000000 usd
CY2023Q1 us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 usd
CY2022Q1 us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 usd
CY2022Q3 us-gaap Liability For Asbestos And Environmental Claims Gross Period Increase Decrease
LiabilityForAsbestosAndEnvironmentalClaimsGrossPeriodIncreaseDecrease
571000000 eur
us-gaap Liability For Asbestos And Environmental Claims Gross Period Increase Decrease
LiabilityForAsbestosAndEnvironmentalClaimsGrossPeriodIncreaseDecrease
500000000 usd
CY2022Q2 us-gaap Liability For Asbestos And Environmental Claims Gross Period Increase Decrease
LiabilityForAsbestosAndEnvironmentalClaimsGrossPeriodIncreaseDecrease
355000000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2023Q1 mmm Number Of Groups Of Products
NumberOfGroupsOfProducts
2 group
CY2022Q4 mmm Number Of Divisions
NumberOfDivisions
4 segment
CY2023Q1 mmm Number Of Divisions
NumberOfDivisions
3 segment
CY2023Q1 us-gaap Revenues
Revenues
8031000000 usd
CY2022Q1 us-gaap Revenues
Revenues
8829000000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1241000000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1641000000 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-52000000 usd
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-38000000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1189000000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1603000000 usd

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