3M Company (MMM) financial statements (2022 and earlier)

Company profile

Business Address 3M CENTER
ST PAUL, MN 55144-1000
State of Incorp. DE
Fiscal Year End December 31
SIC 3841 - Surgical and Medical Instruments and Apparatus (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 4041073931,0762,6781,916
Cash and cash equivalents  913 2,3981,798
Short-term investments 404983801,076280118
Receivables4,6604,7054,7915,0204,9114,3924,154
Inventory, net of allowances, customer advances and progress billings4,9854,2394,1344,3664,0343,3853,518
Inventory4,9854,2394,1344,3664,0343,3853,518
Prepaid expense654675704741937  
Other current assets3393258913492661,2711,398
Other undisclosed current assets4,7654,6342,3442,8403,053  
Total current assets:15,40314,98212,97113,70914,27711,72610,986
Noncurrent Assets
Finance lease, right-of-use asset106  
Operating lease, right-of-use asset858864858
Property, plant and equipment 9,4219,3338,7388,8668,5168,515
Long-term investments and receivables     145117
Long-term investments     145117
Intangible assets, net (including goodwill)18,77419,63719,82312,70813,44911,48611,850
Goodwill13,48613,80213,44410,05110,5139,1669,249
Intangible assets, net (excluding goodwill)5,2885,8356,3792,6572,9362,3202,601
Other noncurrent assets2,6082,4401,6741,3451,3959811,053
Defined benefit plan, assets for plan benefits52188
Other undisclosed noncurrent assets9,323     9
Total noncurrent assets:31,66932,36231,68822,79123,71021,18021,732
TOTAL ASSETS:47,07247,34444,65936,50037,98732,90632,718
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,2743,6083,1243,2583,1252,7752,670
Accounts payable2,9942,5612,2282,2661,9451,7981,694
Employee-related liabilities1,020747702749870678644
Taxes payable260300194243310299332
Debt1,3078062,7951,2111,8539722,044
Other liabilities3,1913,2783,0562,7752,7092,4722,404
Other undisclosed current liabilities263256247    
Total current liabilities:9,0357,9489,2227,2447,6876,2197,118
Noncurrent Liabilities
Long-term debt and lease obligation16,64718,59818,12513,41112,09610,6788,753
Long-term debt, excluding current maturities16,05617,98917,51813,41112,09610,6788,753
Operating lease, liability591609607
Liabilities, other than long-term debt6,2737,8677,1865,9976,5825,6665,100
Liability, pension and other postretirement and postemployment benefits2,8704,4053,9112,9873,6204,0183,520
Other liabilities3,4033,4623,2753,0102,9621,6481,580
Total noncurrent liabilities:22,92026,46525,31119,40818,67816,34413,853
Total liabilities:31,95534,41334,53326,65226,36522,56320,971
Stockholders' equity
Stockholders' equity attributable to parent15,04612,86710,0639,79611,56310,29811,708
Common stock9999999
Treasury stock, value(30,463)(29,404)(29,849)(29,626)(25,887)(25,434)(23,308)
Additional paid in capital6,4296,1625,9075,6435,3525,0614,791
Accumulated other comprehensive loss(6,750)(7,661)(8,139)(6,866)(7,026)(7,245)(6,359)
Retained earnings45,82143,76142,13540,63639,11537,90736,575
Stockholders' equity attributable to noncontrolling interest71646352594539
Total stockholders' equity:15,11712,93110,1269,84811,62210,34311,747
TOTAL LIABILITIES AND EQUITY:47,07247,34444,65936,50037,98732,90632,718

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues35,35532,18432,13632,76531,65730,10930,274
Revenue, net31,65730,10930,274
Cost of revenue(18,795)(16,605)(17,136)(16,682)(16,001)(15,040)(15,383)
Gross profit:16,56015,57915,00016,08315,65615,06914,891
Operating expenses(7,197)(6,540)(6,915)(7,055)(5,986)(6,111)(6,182)
Other undisclosed operating loss(1,994)(1,878)(1,911)(1,821)(1,850)(1,735)(1,763)
Operating income:7,3697,1616,1747,2077,8207,2236,946
Nonoperating expense(165)(450)(462)(207)(272)(170)(123)
Investment income, nonoperating  (162)  29 
Foreign currency transaction loss, before tax(105)(21) (92)(152)  
Other nonoperating income      26
Interest and debt expense(488)(10)(448)(350)(322)(199)(149)
Other undisclosed income from continuing operations before equity method investments, income taxes48810     
Income from continuing operations before equity method investments, income taxes:7,2046,7115,2646,6507,2266,8546,674
Other undisclosed income from continuing operations before income taxes  448350322199149
Income from continuing operations before income taxes:7,2046,7115,7127,0007,5487,0536,823
Income tax expense(1,285)(1,318)(1,130)(1,637)(2,679)(1,995)(1,982)
Income before gain (loss) on sale of properties:5,9195,3934,5825,3634,8695,0584,841
Other undisclosed net income (loss)10(5)     
Net income:5,9295,3884,5825,3634,8695,0584,841
Net loss attributable to noncontrolling interest(8)(4)(12)(14)(11)(8)(8)
Net income available to common stockholders, diluted:5,9215,3844,5705,3494,8585,0504,833

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:5,9295,3884,5825,3634,8695,0584,841
Other comprehensive income (loss)970476(421)153222(888)(72)
Comprehensive income:6,8995,8644,1615,5165,0914,1704,769
Comprehensive loss, net of tax, attributable to noncontrolling interest(7)(2)(11)(8)(14)(6)(6)
Comprehensive income, net of tax, attributable to parent:6,8925,8624,1505,5085,0774,1644,763

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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