3M 2012 Annual Report Download - page 73
Download and view the complete annual report
Please find page 73 of the 2012 3M annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
 |
 |
67
NOTE 5. Supplemental Equity and Comprehensive Income Information
Common stock ($.01 par value per share) of 3.0 billion shares is authorized, with 944,033,056 shares issued. Treasury
stock is reported at cost, with 256,941,406 shares at December 31, 2012, 249,063,015 shares at December 31, 2011, and
232,055,448 shares at December 31, 2010. Preferred stock, without par value, of 10 million shares is authorized but
unissued.
The components of other comprehensive income (loss) and accumulated other comprehensive income (loss) attributable
to 3M follow.
Accumulated Other Comprehensive Income (Loss) Attributable to 3M
December 31,
December 31,
(Millions)
2012
2011
Cumulative translation adjustment
$
230
$
114
Defined benefit pension and postretirement plans adjustment
(4,955)
(5,155)
Debt and equity securities, unrealized gain (loss)
(2)
(6)
Cash flow hedging instruments, unrealized gain (loss)
(23)
22
Total accumulated other comprehensive income (loss)
$
(4,750)
$
(5,025)
Components of Comprehensive Income (Loss) Attributable to 3M
Years ended December 31
(Millions)
2012
2011
2010
Net income attributable to 3M
$
4,444
$
4,283
$
4,085
Cumulative translation
133
(253)
213
Tax effect
(17)
(7)
(8)
Cumulative translation - net of tax
116
(260)
205
Defined benefit pension and postretirement plans adjustment
411
(1,977)
(68)
Tax effect
(211)
701
28
Defined benefit pension and postretirement plans
adjustment - net of tax
200
(1,276)
(40)
Debt and equity securities, unrealized gain (loss)
6
-
5
Tax effect
(2)
-
(2)
Debt and equity securities, unrealized gain (loss) -
net of tax
4
-
3
Cash flow hedging instruments, unrealized gain (loss)
(69)
84
6
Tax effect
24
(30)
(2)
Cash flow hedging instruments unrealized gain (loss) -
net of tax
(45)
54
4
Total comprehensive income (loss) attributable to 3M
$
4,719
$
2,801
$
4,257
Reclassification adjustments are made to avoid double counting in comprehensive income items that are also recorded as
part of net income. Reclassifications to earnings from accumulated other comprehensive income including noncontrolling
interest that related to pension and postretirement expense in the income statement were $615 million pre-tax ($396
million after-tax) in 2012, $475 million pre-tax ($307 million after-tax) in 2011, and $306 million pre-tax ($197 million after-
tax) in 2010. These pension and postretirement expense pre-tax amounts are shown in the table in Note 10 as
amortization of transition (asset) obligation, amortization of prior service cost (benefit) and amortization of net actuarial
(gain) loss. Cash flow hedging instruments reclassifications are provided in Note 11. Reclassifications to earnings from
accumulated other comprehensive income that related to realized losses due to sales or impairments (net of realized
gains) for debt and equity securities were not material for 2012, $10 million pre-tax ($6 million after-tax) in 2011, and not
material for 2010. Income taxes are not provided for foreign translation relating to permanent investments in international
subsidiaries, but tax effects within cumulative translation do include impacts from items such as net investment hedge
transactions.