3M 2005 Annual Report Download - page 37

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11
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 8, 2004, the Board of Directors authorized the purchase of $2.0 billion of
the Company’s common stock between January 1, 2005 and January 31, 2006. In October 2005, 3M’s Board of
Directors authorized the repurchase of an additional $300 million of the Company’s common stock through January 31,
2006. This increased the total repurchase authorization to $2.3 billion through January 31, 2006.
Issuer Purchases of Equity
Securities (registered pursuant to
Section 12 of the Exchange Act)
Period
Total
Number of
Shares
Purchased
Average Price
Paid per Share
Total
Number of
Shares
Purchased
as Part of
Publicly
nnounced
Plans or
Programs
Maximum
A
pproximate
Dollar Value
of Shares
that May Yet
Be
Purchased
under the
Plans or
Programs
(1) (Millions)
January 1-31, 2005 2,333,811 $82.66 2,245,000 $1,814
February 1-28, 2005 2,111,948 $84.58 1,775,500 $1,665
March 1-31, 2005 3,490,467 $85.76 3,411,800 $1,372
Total January 1 – March 31, 2005 7,936,226 $84.53 7,432,300 $1,372
April 1-30, 2005 879,751 $84.67 863,000 $1,299
May 1-31, 2005 2,572,923 $77.22 2,439,000 $1,111
June 1-30, 2005 3,146,737 $76.47 3,115,000 $ 872
Total April 1 – June 30, 2005 6,599,411 $77.86 6,417,000 $ 872
July 1-31, 2005 2,389,531 $73.96 2,353,700 $ 698
August 1-31, 2005 3,415,930 $72.05 3,398,300 $ 453
September 1-30, 2005 2,754,191 $73.06 2,734,300 $ 254
Total July 1 – September 30, 2005 8,559,652 $72.91 8,486,300 $ 254
October 1-31, 2005 1,725,380 $73.78 1,658,700 $ 431
November 1-30, 2005 2,283,087 $77.24 2,237,400 $ 259
December 1-31, 2005 3,406,831 $77.74 3,271,400 $ 4
Total October 1 – Dec. 31, 2005 7,415,298 $76.67 7,167,500 $ 4
Total January 1 – December 31, 2005 30,510,587 $77.92 29,503,100 $ 4
(1) The total number of shares purchased includes: (i) shares purchased under the Board’s $2.3 billion
authorization described above, and (ii) shares purchased in connection with the exercise of stock options (which
combined totaled 88,811 shares in January 2005, 336,448 shares in February 2005, 78,667 shares in March 2005,
16,751 shares in April 2005, 133,923 shares in May 2005, 31,737 shares in June 2005, 35,831 shares in July
2005, 17,630 shares in August 2005, 19,891 shares in September 2005, 66,680 shares in October 2005, 45,687
shares in November 2005, and 135,431 shares in December 2005).