3M 2015 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2015 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.

Page out of 158

  • 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
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158

TableofContents
ConsolidatedStatementofCashFlows
3MCompanyandSubsidiaries
YearsendedDecember31
(Millions)  2015  2014  2013
CashFlowsfromOperatingActivities       
Netincomeincludingnoncontrollinginterest $ 4,841 $ 4,998  $ 4,721 
Adjustmentstoreconcilenetincomeincludingnoncontrollinginteresttonet
cashprovidedbyoperatingactivities       
Depreciationandamortization 1,435 1,408  1,371 
Companypensionandpostretirementcontributions  (267)  (215)  (482)
Companypensionandpostretirementexpense 556 391  553 
Stock-basedcompensationexpense 276 280  240 
Deferredincometaxes 395   (146)  (167)
Excesstaxbenefitsfromstock-basedcompensation  (154)  (167)  (92)
Changesinassetsandliabilities       
Accountsreceivable  (58)  (268)  (337)
Inventories 3   (113)  (86)
Accountspayable 9 75  16 
Accruedincometaxes(currentandlong-term)  (744) 206  206 
Other—net 128 177  (126)
Netcashprovidedbyoperatingactivities 6,420 6,626  5,817 
      
CashFlowsfromInvestingActivities       
Purchasesofproperty,plantandequipment(PP&E)  (1,461)  (1,493)  (1,665)
ProceedsfromsaleofPP&Eandotherassets 33 135  128 
Acquisitions,netofcashacquired  (2,914) (94) — 
Purchasesofmarketablesecuritiesandinvestments  (652)  (1,280)  (4,040)
Proceedsfrommaturitiesandsaleofmarketablesecuritiesandinvestments 1,952 2,034  4,667 
Proceedsfromsaleofbusinesses 123 —  8 
Otherinvesting 102 102  46 
Netcashusedininvestingactivities  (2,817)  (596)  (856)
      
CashFlowsfromFinancingActivities       
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 
Purchasesoftreasurystock  (5,238)  (5,652)  (5,212)
Proceedsfromissuanceoftreasurystockpursuanttostockoptionand
benefitplans 635 968  1,609 
Dividendspaidtoshareholders  (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)
      
Effectofexchangeratechangesoncashandcashequivalents  (54)  (111)  (17)
      
Netincrease(decrease)incashandcashequivalents  (99)  (684)  (302)
Cashandcashequivalentsatbeginningofyear 1,897 2,581  2,883 
Cashandcashequivalentsatendofperiod $ 1,798 $ 1,897  $ 2,581 
TheaccompanyingNotestoConsolidatedFinancialStatementsareanintegralpartofthisstatement.
54