3M 2004 Annual Report Download - page 42

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16
Issuer Purchases of Equity Securities
Repurchases of common stock are made to support the Company’s stock-based employee compensation plans and
for other corporate purposes. On November 10, 2003, the Board of Directors authorized the purchase of up to
$1.5 billion of the Company’s common stock between January 1, 2004 and December 31, 2004. On November 8,
2004, the Board of Directors authorized the purchase of an additional $200 million of the Company’s common stock for
calendar year 2004 and also authorized the purchase of $2.0 billion of the Company’s common stock between January
1, 2005 and January 31, 2006.
Issuer Purchases of Equity
Securities (registered pursuant to
Section 12 of the Exchange Act)
Period
(a)
Total Number
of Shares
Purchased
(1)
(b)
Average
Price Paid
per Share
(c)
Total Number
of Shares
Purchased
as Part of
Publicly
Announced
Plans or
Programs
(d)
Maximum
Approximate
Dollar Value of
Shares that
May
Yet Be
Purchased
under the
Plans or
Programs
(Millions)
January 1-31, 2004 1,967,130 $ 82.57 1,742,100 $ 1,356
February 1-29, 2004 2,079,179 79.41 2,059,000 1,193
March 1-31, 2004 1,406,826 78.45 1,288,700 1,092
Total January 1 – March 31, 2004 5,453,135 $ 80.30 5,089,800 $ 1,092
April 1-30, 2004 1,435,523 $ 86.29 1,257,000 $ 983
May 1-31, 2004 1,530,309 84.30 1,320,500 872
June 1-30, 2004 1,168,954 86.85 1,109,000 776
Total April 1 – June 30, 2004 4,134,786 $ 85.71 3,686,500 $ 776
July 1-31, 2004 785,977 $ 83.19 745,000 $ 714
August 1-31, 2004 3,330,062 80.13 3,256,200 453
September 1-30, 2004 1,364,818 81.23 1,344,500 344
Total July 1 – September 30, 2004 5,480,857 $ 80.85 5,345,700 $ 344
October 1-31, 2004 1,152,298 $ 77.73 1,114,700 $ 257
November 1-30, 2004 3,083,467 80.85 2,980,800 216
December 1-31, 2004 2,693,741 80.46 2,575,500 9
Total October 1 – Dec. 31, 2004 6,929,506 $ 80.18 6,671,000 $ 9
Total January 1 – December 31, 2004 21,998,284 $ 81.42 20,793,000 $ 9
(1) The total number of shares purchased includes: (i) shares purchased under the Board’s $1.5 billion
authorization and $200 million authorization described above, and (ii) shares purchased in connection with the
exercise of stock options and a small number of shares purchased from individuals (which combined totaled
225,030 shares in January 2004, 20,179 shares in February 2004, 118,126 shares in March 2004, 178,523 shares
in April 2004, 209,809 shares in May 2004, 59,954 shares in June 2004, 40,977 shares in July 2004, 73,862
shares in August 2004, 20,318 shares in September 2004, 37,598 shares in October 2004, 102,667 shares in
November 2004, and 118,241 shares in December 2004).