$MMM
3M CO

2008 Q3 Form 8-K Financial Statement

#000110465908077874 Filed on December 22, 2008

View on sec.gov

Income Statement

Concept 2008 Q3 2007 Q4 2007 Q3
Revenue $6.558B $6.206B $6.177B
YoY Change 6.17% 7.33% 5.45%
Cost Of Revenue $3.432B $3.298B $3.240B
YoY Change 5.93% 4.3% 8.36%
Gross Profit $3.126B $2.908B $2.937B
YoY Change 6.44% 10.99% 2.41%
Gross Profit Margin 47.67% 46.86% 47.55%
Selling, General & Admin $1.269B $1.274B $1.174B
YoY Change 8.09% -7.35% -1.01%
% of Gross Profit 40.6% 43.81% 39.97%
Research & Development $344.0M $359.0M $338.0M
YoY Change 1.78% -29.47% -0.59%
% of Gross Profit 11.0% 12.35% 11.51%
Depreciation & Amortization $293.0M $276.0M $263.0M
YoY Change 11.41% -21.37% 5.62%
% of Gross Profit 9.37% 9.49% 8.95%
Operating Expenses $1.269B $1.633B $1.174B
YoY Change 8.09% -13.32% -23.07%
Operating Profit $1.513B $1.275B $1.425B
YoY Change 6.18% 73.23% 6.18%
Interest Expense -$24.00M -$33.00M -$16.00M
YoY Change 50.0% 50.0% -33.33%
% of Operating Profit -1.59% -2.59% -1.12%
Other Income/Expense, Net -$24.00M -$16.00M
YoY Change 50.0%
Pretax Income $1.489B $1.237B $1.409B
YoY Change 5.68% -30.82% 6.9%
Income Tax $479.0M $378.0M $433.0M
% Of Pretax Income 32.17% 30.56% 30.73%
Net Earnings $991.0M $851.0M $960.0M
YoY Change 3.23% -27.64% 7.38%
Net Earnings / Revenue 15.11% 13.71% 15.54%
Basic Earnings Per Share $1.43 $1.34
Diluted Earnings Per Share $1.41 $1.173M $1.32
COMMON SHARES
Basic Shares Outstanding 695.5M shares 714.5M shares
Diluted Shares Outstanding 703.1M shares 729.9M shares

Balance Sheet

Concept 2008 Q3 2007 Q4 2007 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.967B $2.475B $2.699B
YoY Change 9.93% 29.04% 139.06%
Cash & Equivalents $2.240B $1.896B $1.675B
Short-Term Investments $727.0M $579.0M $1.024B
Other Short-Term Assets $980.0M $1.149B $1.204B
YoY Change -18.6% -13.28% -0.99%
Inventory $3.078B $2.852B $2.794B
Prepaid Expenses
Receivables $3.763B $3.362B $3.703B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.79B $9.838B $10.40B
YoY Change 3.73% 9.97% 25.17%
LONG-TERM ASSETS
Property, Plant & Equipment $6.809B $6.582B $6.340B
YoY Change 7.4% 11.43% 9.65%
Goodwill $5.573B $4.589B
YoY Change 12.42%
Intangibles $1.263B $801.0M
YoY Change 13.14%
Long-Term Investments $771.0M $778.0M $851.0M
YoY Change -9.4% 62.08% 113.28%
Other Assets $555.0M $728.0M $1.629B
YoY Change -65.93% -6.19% -55.98%
Total Long-Term Assets $16.82B $14.86B $13.96B
YoY Change 20.54% 20.31% -2.91%
TOTAL ASSETS
Total Short-Term Assets $10.79B $9.838B $10.40B
Total Long-Term Assets $16.82B $14.86B $13.96B
Total Assets $27.61B $24.69B $24.36B
YoY Change 13.36% 15.97% 7.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.557B $1.505B $1.503B
YoY Change 3.59% 7.35% 9.47%
Accrued Expenses $660.0M $580.0M $610.0M
YoY Change 8.2% 11.54% 14.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.257B $901.0M $2.405B
YoY Change -6.15% -64.05% -6.42%
Total Short-Term Liabilities $7.008B $5.362B $7.141B
YoY Change -1.86% -26.78% 4.05%
LONG-TERM LIABILITIES
Long-Term Debt $4.779B $4.019B $2.824B
YoY Change 69.23% 283.86% 129.59%
Other Long-Term Liabilities $3.621B $3.566B $3.420B
YoY Change 5.88% 20.27% -5.18%
Total Long-Term Liabilities $8.400B $7.585B $6.244B
YoY Change 34.53% 89.06% 29.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.008B $5.362B $7.141B
Total Long-Term Liabilities $8.400B $7.585B $6.244B
Total Liabilities $15.41B $12.95B $13.39B
YoY Change 15.11% 14.22% 14.4%
SHAREHOLDERS EQUITY
Retained Earnings $22.07B $20.32B
YoY Change 13.29%
Common Stock $2.973B $2.794B
YoY Change 12.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.72B $10.52B
YoY Change 24.41%
Treasury Stock Shares 251.1M shares 234.9M shares
Shareholders Equity $12.20B $11.75B $10.97B
YoY Change
Total Liabilities & Shareholders Equity $27.61B $24.69B $24.36B
YoY Change 13.36% 15.97% 7.37%

Cashflow Statement

Concept 2008 Q3 2007 Q4 2007 Q3
OPERATING ACTIVITIES
Net Income $991.0M $851.0M $960.0M
YoY Change 3.23% -27.64% 7.38%
Depreciation, Depletion And Amortization $293.0M $276.0M $263.0M
YoY Change 11.41% -21.37% 5.62%
Cash From Operating Activities $1.168B $1.527B $1.035B
YoY Change 12.85% 15.51% -5.82%
INVESTING ACTIVITIES
Capital Expenditures -$376.0M -$391.0M -$379.0M
YoY Change -0.79% -3.46% 21.47%
Acquisitions
YoY Change
Other Investing Activities -$166.0M $202.0M -$448.0M
YoY Change -62.95% -45.99% 61.15%
Cash From Investing Activities -$542.0M -$189.0M -$827.0M
YoY Change -34.46% 509.68% 40.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 214.0M -1.081B 52.00M
YoY Change 311.54% 31.35% -110.68%
NET CHANGE
Cash From Operating Activities 1.168B 1.527B 1.035B
Cash From Investing Activities -542.0M -189.0M -827.0M
Cash From Financing Activities 214.0M -1.081B 52.00M
Net Change In Cash 840.0M 257.0M 260.0M
YoY Change 223.08% -45.09% 1081.82%
FREE CASH FLOW
Cash From Operating Activities $1.168B $1.527B $1.035B
Capital Expenditures -$376.0M -$391.0M -$379.0M
Free Cash Flow $1.544B $1.918B $1.414B
YoY Change 9.19% 11.06% 0.21%

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mmm Change In Product Other Insurance Receivables Claims
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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Payments To Acquire Investments
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Proceeds From Sale Of Productive Assets
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mmm Proceeds From Sale Of Marketable Securities And Investments
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mmm Proceeds From Sale Of Marketable Securities And Investments
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Other Debt
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us-gaap Repayments Of Other Debt
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us-gaap Proceeds From Other Debt
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Proceeds From Sale Of Treasury Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Minority Interest
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
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dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2008Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
692955037 shares
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2006Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2007Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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dei Entity Registrant Name
EntityRegistrantName
3M COMPANY
dei Entity Central Index Key
EntityCentralIndexKey
0000066740
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2008-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
dei Entity Voluntary Filers
EntityVoluntaryFilers
No

Files In Submission

Name View Source Status
0001104659-08-077874-index-headers.html Edgar Link pending
0001104659-08-077874-index.html Edgar Link pending
0001104659-08-077874.txt Edgar Link pending
a08-30893_18k.htm Edgar Link pending
mmm-20080930.xml Edgar Link completed
mmm-20080930.xsd Edgar Link pending
mmm-20080930_cal.xml Edgar Link unprocessable
mmm-20080930_def.xml Edgar Link unprocessable
mmm-20080930_lab.xml Edgar Link unprocessable
mmm-20080930_pre.xml Edgar Link unprocessable