3M 2014 Annual Report Download - page 6
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Financial Summary
(Dollars in millions, except per share amounts)
2014 2013 2012 2011 2010 2009
Operating Results
Net sales $31,821 $30,871 $29,904 $29,611 $26,662 $23,123
Operating income 7,135 6,666 6,483 6,178 5,918 4,814
Net income attributable to 3M 4,956 4,659 4,444 4,283 4,085 3,193
Per share – basic 7.63 6.83 6.40 6.05 5.72 4.56
Per share – diluted 7.49 6.72 6.32 5.96 5.63 4.52
Financial Ratios
Percent of sales
Cost of sales 51.7% 52.1% 52.4% 53.0% 51.9% 52.4%
Selling, general and administrative expenses 20.3 20.7 20.4 20.8 20.5 21.2
Research, development and related expenses 5.6 5.6 5.5 5.3 5.4 5.6
Operating income 22.4 21.6 21.7 20.9 22.2 20.8
Net income attributable to 3M 15.6 15.1 14.9 14.5 15.3 13.8
Total debt to total capital (total capital = debt plus equity) 34% 25% 25% 25% 25% 30%
Additional Information
Cash dividends paid $ 2,216 $ 1,730 $ 1,635 $ 1,555 $ 1,500 $ 1,431
Per share 3.42 2.54 2.36 2.20 2.10 2.04
Stock price at year-end 164.32 140.25 92.85 81.73 86.30 82.67
Total assets 31,269 33,550 33,876 31,616 30,156 27,250
Long-term debt (excluding current portion) 6,731 4,326 4,916 4,484 4,183 5,097
Capital expenditures 1,493 1,665 1,484 1,379 1,091 903
Depreciation and amortization 1,408 1,371 1,288 1,236 1,120 1,157
Research, development and related expenses 1,770 1,715 1,634 1,570 1,434 1,293
Number of employees at year-end 89,800 88,667 87,677 84,198 80,057 74,835
Average shares outstanding – basic (in millions) 649.2 681.9 693.9 708.5 713.7 700.5
Average shares outstanding – diluted (in millions) 662.0 693.6 703.3 719.0 725.5 706.7
2010 results included a one-time income tax charge of $84 million resulting from the March 2010 enactment of the Patient Protection and Aordable Care
Act, including modications made in the Health Care and Education Reconciliation Act of 2010.
2009 results included net losses that decreased operating income by $194 million and net income attributable to 3M by $119 million. This included
restructuring actions, which were partially oset by a gain on sale of real estate.
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