$MMM
3M Co

2018 Q2 Form 10-Q Financial Statement

#000155837018005773 Filed on July 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $8.390B $7.810B
YoY Change 7.43% 1.93%
Cost Of Revenue $4.227B $4.020B
YoY Change 5.15% 5.32%
Gross Profit $4.163B $3.790B
YoY Change 9.84% -1.43%
Gross Profit Margin 49.62% 48.53%
Selling, General & Admin $1.800B $1.620B
YoY Change 11.11% 3.85%
% of Gross Profit 43.24% 42.74%
Research & Development $464.0M $470.0M
YoY Change -1.28% 7.55%
% of Gross Profit 11.15% 12.4%
Depreciation & Amortization $380.0M $380.0M
YoY Change 0.0% 3.83%
% of Gross Profit 9.13% 10.03%
Operating Expenses $1.800B $1.620B
YoY Change 11.11% 3.85%
Operating Profit $2.401B $2.153B
YoY Change 11.52% 15.38%
Interest Expense $88.00M $54.00M
YoY Change 62.96% -292.86%
% of Operating Profit 3.67% 2.51%
Other Income/Expense, Net -$51.00M -$11.00M
YoY Change 363.64% -64.52%
Pretax Income $2.350B $2.142B
YoY Change 9.71% 16.73%
Income Tax $488.0M $557.0M
% Of Pretax Income 20.77% 26.0%
Net Earnings $1.857B $1.583B
YoY Change 17.31% 22.62%
Net Earnings / Revenue 22.13% 20.27%
Basic Earnings Per Share $3.14 $2.65
Diluted Earnings Per Share $3.07 $2.58
COMMON SHARES
Basic Shares Outstanding 591.4M 598.1M
Diluted Shares Outstanding 604.2M 612.8M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.212B $2.794B
YoY Change 14.96% 49.81%
Cash & Equivalents $2.801B $2.654B
Short-Term Investments $411.0M $140.0M
Other Short-Term Assets $370.0M $1.090B
YoY Change -66.06% -15.57%
Inventory $4.238B $3.838B
Prepaid Expenses $713.0M
Receivables $5.383B $4.919B
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.89B $12.64B
YoY Change 9.88% 10.54%
LONG-TERM ASSETS
Property, Plant & Equipment $8.645B $8.566B
YoY Change 0.92% -0.44%
Goodwill $10.11B $9.105B
YoY Change 11.0% -2.68%
Intangibles $2.787B $2.201B
YoY Change 26.62% -11.14%
Long-Term Investments $154.0M
YoY Change 14.07%
Other Assets $1.349B $1.207B
YoY Change 11.76% 22.54%
Total Long-Term Assets $22.89B $21.32B
YoY Change 7.37% -2.22%
TOTAL ASSETS
Total Short-Term Assets $13.89B $12.64B
Total Long-Term Assets $22.89B $21.32B
Total Assets $36.78B $33.96B
YoY Change 8.31% 2.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.871B $1.782B
YoY Change 4.99% 8.0%
Accrued Expenses $646.0M $666.0M
YoY Change -3.0% 14.83%
Deferred Revenue $512.0M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.225B $213.0M
YoY Change 1414.08% -91.31%
Total Short-Term Liabilities $8.902B $5.697B
YoY Change 56.26% -21.46%
LONG-TERM LIABILITIES
Long-Term Debt $11.29B $11.09B
YoY Change 1.86% 19.24%
Other Long-Term Liabilities $2.900B $1.767B
YoY Change 64.12% 33.16%
Total Long-Term Liabilities $14.19B $12.86B
YoY Change 10.42% 20.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.902B $5.697B
Total Long-Term Liabilities $14.19B $12.86B
Total Liabilities $26.35B $22.31B
YoY Change 18.09% 4.77%
SHAREHOLDERS EQUITY
Retained Earnings $39.44B $38.79B
YoY Change 1.67% 4.3%
Common Stock $5.559B $5.253B
YoY Change 5.83% 5.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.37B $11.59B
YoY Change
Total Liabilities & Shareholders Equity $36.78B $33.96B
YoY Change 8.31% 2.17%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $1.857B $1.583B
YoY Change 17.31% 22.62%
Depreciation, Depletion And Amortization $380.0M $380.0M
YoY Change 0.0% 3.83%
Cash From Operating Activities $1.899B $1.642B
YoY Change 15.65% 27.78%
INVESTING ACTIVITIES
Capital Expenditures -$365.0M -$302.0M
YoY Change 20.86% -6.5%
Acquisitions
YoY Change
Other Investing Activities $991.0M $819.0M
YoY Change 21.0% -3133.33%
Cash From Investing Activities $626.0M $517.0M
YoY Change 21.08% -247.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.142B -1.705B
YoY Change 84.28% 183.22%
NET CHANGE
Cash From Operating Activities 1.899B 1.642B
Cash From Investing Activities 626.0M 517.0M
Cash From Financing Activities -3.142B -1.705B
Net Change In Cash -617.0M 454.0M
YoY Change -235.9% 36.34%
FREE CASH FLOW
Cash From Operating Activities $1.899B $1.642B
Capital Expenditures -$365.0M -$302.0M
Free Cash Flow $2.264B $1.944B
YoY Change 16.46% 20.9%

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349148819
CY2018Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
357419580
CY2017Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
25887000000
CY2018Q2 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
27617000000
us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
-504000000
CY2017Q2 us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
-180000000
us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
-313000000
CY2018Q2 us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
-86000000
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
526000000
CY2018Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
493000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
612400000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
612800000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
608500000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
604200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
598100000
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
598100000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
593800000
CY2017Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
475000000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2563000000
CY2018Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1591000000
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
68000000
CY2018Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
60000000
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
8000000
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
5000000
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
3000000
CY2018Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
-6000000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
591400000

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