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TableofContents
addition,3Mbeganamulti-yearprogramintheUnitedStatestorenewandupgradelaboratoryfacilitiesandadministrative
buildings.
In2013,3Mcontinueditsexpansionofmanufacturingcapacityinkeygrowthmarkets,includinginvestmentsintheU.S.,China,
Germany,andBrazil.Thisincludedsignificantinvestmentsacross3M’smanybusinesses,suchasabrasives,industrialadhesivesand
tapes,advancedmaterials,electronics-related,infectionprevention,andotherbusinesses.3McontinueditsinvestmentsinITsystems
andinfrastructure.Inaddition,3Msustainedexistingfacilitiesthroughgeneralmaintenance,costreduction,andcomplianceefforts.
ProceedsfromsaleofPP&Eandotherassetstotaled$33millionin2015,$135millionin2014,and$128millionin2013.Apart
fromthenormalperiodicsalesofPP&E,2014includedproceedsof$114millionrelatedtothesalesofrealestateandnon-
productionequipment,and2013includedproceedsof$79millionrelatedtonon-productionequipment.
RefertoNote2forinformationonacquisitionsanddivestitures.TheCompanyisactivelyconsideringadditionalacquisitions,
investmentsandstrategicalliances,andfromtimetotimemayalsodivestcertainbusinesses.
Purchasesofmarketablesecuritiesandinvestmentsandproceedsfrommaturitiesandsaleofmarketablesecuritiesandinvestments
areprimarilyattributabletoasset-backedsecurities,agencysecurities,corporatedebtsecuritiesandothersecurities,whichare
classifiedasavailable-for-sale.RefertoNote9formoredetailsabout3M’sdiversifiedmarketablesecuritiesportfolio.Purchasesof
investmentsincludeadditionalsurvivorbenefitinsurance,pluscostmethodandequityinvestments.
Cash Flows from Financing Activities:
YearsendedDecember31   
(Millions) 2015 2014 2013 
      
Changeinshort-termdebt—net $ 860 $ 27  $ (2)
Repaymentofdebt(maturitiesgreaterthan90days)  (800)  (1,625)  (859)
Proceedsfromdebt(maturitiesgreaterthan90days) 3,422 2,608  824 
Totalcashchangeindebt $ 3,482 $ 1,010  $ (37)
Purchasesoftreasurystock  (5,238)  (5,652)  (5,212)
Proceedsfromissuancesoftreasurystockpursuanttostockoptionand
benefitplans 635 968  1,609 
Dividendspaidtostockholders  (2,561)  (2,216)  (1,730)
Excesstaxbenefitsfromstock-basedcompensation 154 167  92 
Purchaseofnoncontrollinginterest — (861) — 
Other—net  (120) (19) 32 
Netcashusedinfinancingactivities $ (3,648) $ (6,603) $ (5,246)
Totaldebtwas$10.8billionatDecember31,2015,$6.8billionatDecember31,2014,and$6.0billionatDecember31,2013.
Totaldebtwas48percentoftotalcapital(totalcapitalisdefinedasdebtplusequity)atyear-end2015,34percentoftotalcapitalat
year-end2014,and25percentoftotalcapitalatyear-end2013.
Inboth2015and2014,thechangeinshort-termdebtprimarilyrelatedtobankborrowingsbyinternationalsubsidiaries,primarily
JapanandKoreain2015.In2015,repaymentofdebtprimarilyrelatedtodebtassumed(andpaidoff)aspartoftheCapitalSafety
acquisition(refertoNote2).In2014,repaymentofdebtprimarilyincludesrepaymentofaEurobondinJuly2014totaling1.025
billionEuros(approximately$1.4billioncarryingvalue),repaymentofthethree-year66millionBritishPoundcommittedcredit
facilityagreemententeredintoinDecember2012,andrepaymentofotherinternationaldebt.In2013,repaymentofdebtrelatedto
theAugust2013repaymentof$850million(principalamount)ofmedium-termnotes.
In2015,proceedsfromdebtprimarilyrelatedtotheMay2015issuanceof650millionEurosaggregateprincipalamountoffive-year
floatingratemedium-termnotesdue2020,600millionEurosaggregateprincipalamountofeight-yearfixedratemedium-termnotes
due2023,and500millionEurosaggregateprincipalamountoffifteen-yearfixedratemedium-
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