3M 2005 Annual Report Download - page 36

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10
liabilities and related insurance receivables where applicable, or make such estimates for matters previously not
susceptible of reasonable estimates, such as a significant judicial ruling or judgment, significant settlement,
significant regulatory development or changes in applicable law. A future adverse ruling, settlement or unfavorable
development could result in future charges that could have a material adverse effect on the Company’s results of
operations or cash flows in any particular period. A specific factor that could increase the Company’s estimate of
its future asbestos-related liabilities is the pending Congressional consideration of legislation to reform asbestos-
related litigation and pertinent information derived from that process. For a more detailed discussion of the legal
proceedings involving the Company and associated accounting estimates, see the discussion in Note 11 to the
Consolidated Financial Statements of this Annual Report on Form 10-K.
Item 1B. Unresolved Staff Comments.
None.
Item 2. Properties.
3M’s general offices, corporate research laboratories, and certain division laboratories are located in St. Paul,
Minnesota. In the United States, 3M has 15 sales offices in 12 states and operates 59 manufacturing facilities in
23 states. Internationally, 3M has 173 sales offices. The Company operates 80 manufacturing and converting
facilities in 29 countries outside the United States.
3M owns substantially all of its physical properties. 3M’s physical facilities are highly suitable for the purposes for
which they were designed. Because 3M is a global enterprise characterized by substantial intersegment
cooperation, properties are often used by multiple business segments.
Item 3. Legal Proceedings.
Discussion of legal matters is incorporated by reference from Part II, Item 8, Note 11, “Commitments and
Contingencies”, of this document, and should be considered an integral part of Part I, Item 3, “Legal Proceedings”.
Item 4. Submission of Matters to a Vote of Security Holders.
None in the quarter ended December 31, 2005.
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Equity compensation plans’ information is incorporated by reference from Part III, Item 12, Security Ownership of
Certain Beneficial Owners and Management, of this document, and should be considered an integral part of Item 5. At
January 31, 2006, there were approximately 125,823 shareholders of record. 3M’s stock is listed on the New York
Stock Exchange, Inc. (NYSE), Pacific Exchange, Inc., Chicago Stock Exchange, Inc., and the SWX Swiss Exchange.
Cash dividends declared and paid totaled $.42 per share for each quarter of 2005, and $.36 per share for each
quarter of 2004. Stock price comparisons follow:
Stock price comparisons (NYSE composite transactions)
(Per share amounts)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Year
2005 High $87.45 $86.21 $76.74 $79.84 $87.45
2005 Low 80.73 $72.25 70.41 69.71 69.71
2004 High $86.20 $90.29 $90.11 $83.03 $90.29
2004 Low 74.35 80.90 77.20 73.31 73.31