2017 Q4 Form 8-K Financial Statement

#000155837018004256 Filed on May 08, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4 2016 Q3
Revenue $7.990B $7.329B $7.709B
YoY Change 9.02% 0.42% -0.04%
Cost Of Revenue $4.094B $3.736B $3.867B
YoY Change 9.58% -2.38% -0.26%
Gross Profit $3.896B $3.593B $3.842B
YoY Change 8.43% 3.51% 0.18%
Gross Profit Margin 48.76% 49.02% 49.84%
Selling, General & Admin $1.755B $1.727B $1.531B
YoY Change 1.62% 17.01% 0.07%
% of Gross Profit 45.05% 48.07% 39.85%
Research & Development $448.0M $450.0M $427.0M
YoY Change -0.44% 6.89% -0.47%
% of Gross Profit 11.5% 12.52% 11.11%
Depreciation & Amortization $349.0M $384.0M $368.0M
YoY Change -9.11% -3.27% 3.66%
% of Gross Profit 8.96% 10.69% 9.58%
Operating Expenses $2.203B $2.177B $1.531B
YoY Change 1.19% 14.76% 0.07%
Operating Profit $1.693B $1.416B $1.904B
YoY Change 19.56% -10.04% 1.49%
Interest Expense -$244.0M -$59.00M -$42.00M
YoY Change 313.56% 63.89% 20.0%
% of Operating Profit -14.41% -4.17% -2.21%
Other Income/Expense, Net $32.00M $196.0M -$42.00M
YoY Change -83.67% 35.48%
Pretax Income $1.672B $1.610B $1.862B
YoY Change 3.85% 10.05% 0.92%
Income Tax $385.0M $454.0M $531.0M
% Of Pretax Income 23.03% 28.2% 28.52%
Net Earnings $523.0M $1.155B $1.329B
YoY Change -54.72% 11.27% 2.55%
Net Earnings / Revenue 6.55% 15.76% 17.24%
Basic Earnings Per Share $0.88 $1.93 $2.20
Diluted Earnings Per Share $0.85 $1.88 $2.15
COMMON SHARES
Basic Shares Outstanding 604.4M
Diluted Shares Outstanding 618.8M

Balance Sheet

Concept 2017 Q4 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.156B $2.678B $2.666B
YoY Change 55.19% 39.77% 51.65%
Cash & Equivalents $3.053B $2.398B $2.308B
Short-Term Investments $1.103B $280.0M $358.0M
Other Short-Term Assets $266.0M $450.0M $1.159B
YoY Change -40.89% -67.81% -24.3%
Inventory $4.034B $3.385B $3.611B
Prepaid Expenses $937.0M $821.0M
Receivables $4.911B $4.392B $4.743B
Other Receivables $71.00M $109.0M $0.00
Total Short-Term Assets $14.28B $11.73B $12.18B
YoY Change 21.76% 6.74% 4.92%
LONG-TERM ASSETS
Property, Plant & Equipment $8.866B $8.516B $8.671B
YoY Change 4.11% 0.01% 2.37%
Goodwill $10.51B $9.166B $9.430B
YoY Change 14.7% -0.9% 0.81%
Intangibles $2.936B $2.320B $2.422B
YoY Change 26.55% -10.8% -7.98%
Long-Term Investments $70.00M $60.00M $141.0M
YoY Change 16.67% 7.14% 12.8%
Other Assets $1.395B $1.178B $952.0M
YoY Change 18.42% -3.28% -5.65%
Total Long-Term Assets $23.71B $21.18B $21.87B
YoY Change 11.95% -3.27% 1.03%
TOTAL ASSETS
Total Short-Term Assets $14.28B $11.73B $12.18B
Total Long-Term Assets $23.71B $21.18B $21.87B
Total Assets $37.99B $32.91B $34.05B
YoY Change 15.44% 0.07% 2.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.945B $1.798B $1.621B
YoY Change 8.18% 6.14% 1.31%
Accrued Expenses $870.0M $1.567B $729.0M
YoY Change -44.48% 3.98% 6.58%
Deferred Revenue $513.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.853B $972.0M $1.282B
YoY Change 90.64% -52.45% -43.75%
Total Short-Term Liabilities $7.687B $6.219B $6.400B
YoY Change 23.61% -12.63% -8.99%
LONG-TERM LIABILITIES
Long-Term Debt $12.10B $10.68B $11.08B
YoY Change 13.28% 21.99% 23.46%
Other Long-Term Liabilities $2.962B $1.648B $1.345B
YoY Change 79.73% -18.58% -14.11%
Total Long-Term Liabilities $15.06B $12.33B $12.42B
YoY Change 22.16% 14.37% 17.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.687B $6.219B $6.400B
Total Long-Term Liabilities $15.06B $12.33B $12.42B
Total Liabilities $26.37B $22.56B $22.00B
YoY Change 16.85% 5.36% 4.61%
SHAREHOLDERS EQUITY
Retained Earnings $39.12B $37.91B $37.75B
YoY Change 3.19% 4.44% 4.17%
Common Stock $5.361B $5.070B $5.021B
YoY Change 5.74% 5.63% 5.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.56B $10.30B $12.00B
YoY Change
Total Liabilities & Shareholders Equity $37.99B $32.91B $34.05B
YoY Change 15.44% 0.07% 2.38%

Cashflow Statement

Concept 2017 Q4 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $523.0M $1.155B $1.329B
YoY Change -54.72% 11.27% 2.55%
Depreciation, Depletion And Amortization $349.0M $384.0M $368.0M
YoY Change -9.11% -3.27% 3.66%
Cash From Operating Activities $1.860B $2.209B $1.908B
YoY Change -15.8% -5.52% 14.66%
INVESTING ACTIVITIES
Capital Expenditures -$459.0M -$436.0M -$347.0M
YoY Change 5.28% -2.24% -1.98%
Acquisitions
YoY Change
Other Investing Activities -$2.273B $206.0M -$196.0M
YoY Change -1203.4% -14.17% -91.91%
Cash From Investing Activities -$2.732B -$230.0M -$543.0M
YoY Change 1087.83% 11.65% -80.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.044B -1.846B -752.0M
YoY Change -156.55% -5.53% 241.82%
NET CHANGE
Cash From Operating Activities 1.860B 2.209B 1.908B
Cash From Investing Activities -2.732B -230.0M -543.0M
Cash From Financing Activities 1.044B -1.846B -752.0M
Net Change In Cash 172.0M 133.0M 613.0M
YoY Change 29.32% -25.28% -145.99%
FREE CASH FLOW
Cash From Operating Activities $1.860B $2.209B $1.908B
Capital Expenditures -$459.0M -$436.0M -$347.0M
Free Cash Flow $2.319B $2.645B $2.255B
YoY Change -12.33% -4.99% 11.74%

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CY2017 us-gaap Common Stock Dividends Per Share Cash Paid
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1.175
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1.175
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0.01
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
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<div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Credit risk:</font><font style="display:inline;"> The Company is exposed to credit loss in the event of nonperformance by counterparties in interest rate swaps, currency swaps, commodity price swaps, and forward and option contracts. However, the Company&#x2019;s risk is limited to the fair value of the instruments. The Company actively monitors its exposure to credit risk through the use of credit approvals and credit limits, and by selecting major international banks and financial institutions as counterparties. 3M enters into master netting arrangements with counterparties when possible to mitigate credit risk in derivative transactions. A master netting arrangement may allow each counterparty to net settle amounts owed between a 3M entity and the counterparty as a result of multiple, separate derivative transactions. The Company does not anticipate nonperformance by any of these counterparties. 3M has elected to present the fair value of derivative assets and liabilities within the Company&#x2019;s consolidated balance sheet on a gross basis even when derivative transactions are subject to master netting arrangements and may otherwise qualify for net presentation.</font> </p><div /></div> </div>
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CY2017Q3 us-gaap Cost Of Revenue
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CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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1435000000
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1474000000
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259000000
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220000000
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56000000
CY2017Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
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CY2016Q4 us-gaap Derivative Liabilities Current
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0.291
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CY2015 us-gaap Dividends Common Stock Cash
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7.72
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2.10
CY2016 us-gaap Earnings Per Share Basic
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8.35
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2.13
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2.20
CY2016Q4 us-gaap Earnings Per Share Basic
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1.93
CY2017Q1 us-gaap Earnings Per Share Basic
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2.21
CY2017 us-gaap Earnings Per Share Basic
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8.13
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2.65
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2.39
CY2017Q4 us-gaap Earnings Per Share Basic
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0.88
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7.58
CY2016Q1 us-gaap Earnings Per Share Diluted
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2.05
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.16
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EarningsPerShareDiluted
2.08
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2.15
CY2016Q4 us-gaap Earnings Per Share Diluted
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1.88
CY2017Q1 us-gaap Earnings Per Share Diluted
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2.16
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.93
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2.58
CY2017Q3 us-gaap Earnings Per Share Diluted
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2.33
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0.018
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0.018
CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0.018
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.039
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.027
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.063
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0.003
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-0.006
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-0.010
CY2016 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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0.002
CY2017 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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0.022
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.011
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.009
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.008
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.005
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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