2024 Q1 Form 10-K Financial Statement

#000006674024000016 Filed on February 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $8.003B $8.013B $32.68B
YoY Change -0.35% -0.82% -4.52%
Cost Of Revenue $4.327B $4.678B $18.48B
YoY Change -6.2% 2.03% -3.93%
Gross Profit $3.676B $3.335B $14.20B
YoY Change 7.55% -4.55% -5.29%
Gross Profit Margin 45.93% 41.62% 43.46%
Selling, General & Admin $1.644B $1.625B $21.53B
YoY Change -3.58% -24.28% 137.88%
% of Gross Profit 44.72% 48.73% 151.55%
Research & Development $427.0M $467.0M $1.000B
YoY Change -9.53% 4.94% -46.29%
% of Gross Profit 11.62% 14.0% 7.04%
Depreciation & Amortization $430.0M $537.0M $1.987B
YoY Change -7.73% 16.74% 8.52%
% of Gross Profit 11.7% 16.1% 13.99%
Operating Expenses $2.071B $2.092B $22.53B
YoY Change 21.47% -19.26% 106.45%
Operating Profit $1.605B $1.243B -$9.128B
YoY Change 29.33% 37.65% -323.4%
Interest Expense -$275.0M -$279.0M $942.0M
YoY Change -323.58% 232.14% 103.9%
% of Operating Profit -17.13% -22.45%
Other Income/Expense, Net $11.00M -$243.0M -$560.0M
YoY Change -121.15% 594.29% 280.95%
Pretax Income $1.237B $1.000B -$9.688B
YoY Change 4.04% 67.5% -251.56%
Income Tax $305.0M $64.00M -$2.691B
% Of Pretax Income 24.66% 6.4%
Net Earnings $928.0M $945.0M -$6.995B
YoY Change -4.92% 74.68% -221.08%
Net Earnings / Revenue 11.6% 11.79% -21.4%
Basic Earnings Per Share $1.67 -$12.63
Diluted Earnings Per Share $1.67 $1.70 -$12.63
COMMON SHARES
Basic Shares Outstanding 552.7M shares 553.9M shares
Diluted Shares Outstanding 555.9M shares 553.9M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.97B $5.986B $5.986B
YoY Change 176.42% 53.76% 53.76%
Cash & Equivalents $10.91B $5.933B $5.933B
Short-Term Investments $60.00M $53.00M $53.00M
Other Short-Term Assets $995.0M $336.0M $821.0M
YoY Change 102.24% -62.29% -7.86%
Inventory $4.897B $4.822B $4.822B
Prepaid Expenses $655.0M $485.0M
Receivables $4.750B $4.750B $4.750B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.61B $16.38B $16.38B
YoY Change 44.44% 11.51% 11.51%
LONG-TERM ASSETS
Property, Plant & Equipment $9.816B $9.159B $9.918B
YoY Change 6.15% -8.47% -0.89%
Goodwill $12.81B $12.93B
YoY Change -0.36% 1.07%
Intangibles $4.105B $4.226B
YoY Change -10.47% -10.07%
Long-Term Investments $74.00M $244.0M
YoY Change -8.64% 201.23%
Other Assets $6.900B $7.130B $7.130B
YoY Change 58.51% 66.94% 66.94%
Total Long-Term Assets $33.63B $34.20B $34.20B
YoY Change 5.35% 7.66% 7.66%
TOTAL ASSETS
Total Short-Term Assets $21.61B $16.38B $16.38B
Total Long-Term Assets $33.63B $34.20B $34.20B
Total Assets $55.24B $50.58B $50.58B
YoY Change 17.82% 8.88% 8.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.372B $3.245B $3.245B
YoY Change 7.73% 1.95% 1.95%
Accrued Expenses $834.0M $1.129B $1.129B
YoY Change -3.81% 18.47% 18.47%
Deferred Revenue $565.0M $572.0M
YoY Change 8.65% 6.32%
Short-Term Debt $0.00 $1.795B $1.795B
YoY Change
Long-Term Debt Due $820.0M $1.152B $2.947B
YoY Change -72.78% -40.56% 52.06%
Total Short-Term Liabilities $13.16B $15.30B $15.30B
YoY Change 24.63% 60.63% 60.63%
LONG-TERM LIABILITIES
Long-Term Debt $20.59B $13.09B $13.09B
YoY Change 59.04% -6.52% -6.52%
Other Long-Term Liabilities $16.56B $14.32B $17.33B
YoY Change 203.98% 75.49% 112.31%
Total Long-Term Liabilities $37.15B $27.41B $30.42B
YoY Change 101.97% 23.68% 37.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.16B $15.30B $15.30B
Total Long-Term Liabilities $37.15B $27.41B $30.42B
Total Liabilities $50.38B $45.71B $45.71B
YoY Change 59.75% 44.27% 44.27%
SHAREHOLDERS EQUITY
Retained Earnings $37.47B $37.48B
YoY Change -21.88% -21.84%
Common Stock $6.982B $6.965B
YoY Change 2.3% 3.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.866B $4.807B $4.868B
YoY Change
Total Liabilities & Shareholders Equity $55.24B $50.58B $50.58B
YoY Change 17.82% 8.88% 8.88%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $928.0M $945.0M -$6.995B
YoY Change -4.92% 74.68% -221.08%
Depreciation, Depletion And Amortization $430.0M $537.0M $1.987B
YoY Change -7.73% 16.74% 8.52%
Cash From Operating Activities $767.0M $1.986B $6.680B
YoY Change -39.84% 3.33% 19.48%
INVESTING ACTIVITIES
Capital Expenditures $375.0M $358.0M $1.615B
YoY Change -21.05% -170.75% -192.34%
Acquisitions
YoY Change
Other Investing Activities -$18.00M $57.00M -$35.00M
YoY Change -120.22% -51.69% -104.98%
Cash From Investing Activities -$393.0M -$301.0M -$1.207B
YoY Change 1.81% -22.42% 15.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $33.00M
YoY Change -103.05%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.621B -924.0M -$3.147B
YoY Change -745.39% -29.73% -41.18%
NET CHANGE
Cash From Operating Activities 767.0M 1.986B $6.680B
Cash From Investing Activities -393.0M -301.0M -$1.207B
Cash From Financing Activities 4.621B -924.0M -$3.147B
Net Change In Cash 4.995B 761.0M $2.278B
YoY Change 2855.62% 247.49% -382.98%
FREE CASH FLOW
Cash From Operating Activities $767.0M $1.986B $6.680B
Capital Expenditures $375.0M $358.0M $1.615B
Free Cash Flow $392.0M $1.628B $5.065B
YoY Change -51.0% -32.95% -30.99%

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CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
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Files In Submission

Name View Source Status
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mmm-20231231_cal.xml Edgar Link unprocessable
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