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59
2010 Acquisitions Activity
(Millions)
Asset (Liability) Arizant Inc.
Attenti
Holdings
S.A.
Cogent
Inc.
Other
Acquisitions 2010 Total
A
ccounts receivable ............................. $ 15 $ 23 $ 34 $ 21 $ 93
Inventory ............................................... 36 5 17 19 77
Other current assets ............................. 3 7 31 2 43
Marketable securities ........................... — — 380
—
380
Property, plant, and equipment ............ 38 9 30 29 106
Purchased intangible assets ................ 362 90 142 69 663
Purchased goodwill .............................. 512 122 295 51 980
A
ccounts payable and other liabilities, net
of other assets .................................. (29 ) (12 ) (88 ) (35) (164 )
Interest bearing debt ............................ (31 ) (21 ) — (53) (105 )
Deferred tax asset/(liability) .................. (141 ) (16 ) (47 ) (21) (225 )
Net assets acquired .............................. $ 765 $ 207 $ 794 $ 82 $ 1,848
Supplemental information:
Cash paid ............................................. $ 776 $ 227 $ 946 $ 156 $ 2,105
Less: Cash acquired ............................. 11 20 152 92 275
Cash paid, net of cash acquired ........... $ 765 $ 207 $ 794 $ 64 $ 1,830
Non-cash (financed liability) ................. — — — 18 18
Net assets acquired .............................. $ 765 $ 207 $ 794 $ 82 $ 1,848
(Millions)
Asset (Liability)
2009
Acquisitions
Activity
A
ccounts receivable ............................. $ 31
Inventory ............................................... 10
Other current assets ............................. —
Property, plant, and equipment ............ 15
Purchased intangible assets ................ 93
Purchased goodwill .............................. (25 )
A
ccounts payable and other liabilities, net
of other assets .................................. (21 )
Interest bearing debt ............................ (18 )
Deferred tax asset/(liability) .................. (16 )
Net assets acquired .............................. $ 69
Supplemental information:
Cash paid ............................................. $ 73
Less: Cash acquired ............................. 4
Cash paid, net of cash acquired ........... $ 69
Non-cash .............................................. —
Net assets acquired .............................. $ 69
Goodwill resulting from business combinations is largely attributable to the existing workforce of the acquired
businesses and synergies expected to arise after 3M’s acquisition of these businesses. In-process research and
development associated with these business combinations were not material. Pro forma information related to
acquisitions was not included because the impact on the Company’s consolidated results of operations was not
considered to be material.
In addition to business combinations, 3M periodically acquires certain tangible and/or intangible assets and
purchases interests in certain enterprises that do not otherwise qualify for accounting as business combinations.
These transactions are largely reflected as additional asset purchase and investment activity.