3M 2012 Annual Report Download - page 54

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Consolidated Balance Sheet
3M Company and Subsidiaries
At December 31
(Dollars in millions, except per share amount)
2012
2011
Assets
Current assets
Cash and cash equivalents
$
2,883
$
2,219
Marketable securities — current
1,648
1,461
Accounts receivable — net of allowances of $105 and $108
4,061
3,867
Inventories
Finished goods
1,754
1,536
Work in process
1,186
1,061
Raw materials and supplies
897
819
Total inventories
3,837
3,416
Other current assets
1,201
1,277
Total current assets
13,630
12,240
Marketable securities — non-current
1,162
896
Investments
163
155
Property, plant and equipment
22,525
21,166
Less: Accumulated depreciation
(14,147)
(13,500)
Property, plant and equipment — net
8,378
7,666
Goodwill
7,385
7,047
Intangible assets — net
1,925
1,916
Prepaid pension benefits
16
40
Other assets
1,217
1,656
Total assets
$
33,876
$
31,616
Liabilities
Current liabilities
Short-term borrowings and current portion of long-term debt
$
1,085
$
682
Accounts payable
1,762
1,643
Accrued payroll
701
676
Accrued income taxes
371
355
Other current liabilities
2,281
2,085
Total current liabilities
6,200
5,441
Long-term debt
4,916
4,484
Pension and postretirement benefits
3,086
3,972
Other liabilities
1,634
1,857
Total liabilities
$
15,836
$
15,754
Commitments and contingencies (Note 13)
Equity
3M Company shareholders’ equity:
Common stock, par value $.01 per share
$
9
$
9
Shares outstanding - 2012: 687,091,650
Shares outstanding - 2011: 694,970,041
Additional paid-in capital
4,044
3,767
Retained earnings
30,679
28,348
Treasury stock
(12,407)
(11,679)
Accumulated other comprehensive income (loss)
(4,750)
(5,025)
Total 3M Company shareholders’ equity
17,575
15,420
Noncontrolling interest
465
442
Total equity
$
18,040
$
15,862
Total liabilities and equity
$
33,876
$
31,616
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.