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Please find page 77 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.TableofContents
NOTE9.MarketableSecurities
TheCompanyinvestsinagencysecurities,corporatesecurities,asset-backedsecuritiesandothersecurities.Thefollowingisa
summaryofamountsrecordedontheConsolidatedBalanceSheetformarketablesecurities(currentandnon-current).
December31, December31,
(Millions) 2015 2014
U.S.governmentagencysecurities $ — $ 108
Foreigngovernmentagencysecurities 10 95
Corporatedebtsecurities 10 619
Commercialpaper 12 —
Certificatesofdeposit/timedeposits 26 41
U.S.treasurysecurities — 38
U.S.municipalsecurities 3 —
Asset-backedsecurities:
Automobileloanrelated 26 282
Creditcardrelated 10 162
Equipmentleaserelated 2 48
Other 19 46
Asset-backedsecuritiestotal 57 538
Currentmarketablesecurities $ 118 $ 1,439
U.S.municipalsecurities $ 9 $ 15
Non-currentmarketablesecurities $ 9 $ 15
Totalmarketablesecurities $ 127 $ 1,454
Classificationofmarketablesecuritiesascurrentornon-currentisbasedonthenatureofthesecuritiesandavailabilityforusein
currentoperations.AtDecember31,2015and2014,grossunrealizedgainsand/orlosses(pre-tax)werenotmaterial.RefertoNote
6foratablethatprovidesthenetrealizedgains(losses)relatedtosalesorimpairmentsofdebtandequitysecurities,whichincludes
marketablesecurities.Thegrossamountsoftherealizedgainsorlosseswerenotmaterial.Costofsecuritiessoldusethefirstin,first
out(FIFO)method.Sincethesemarketablesecuritiesareclassifiedasavailable-for-salesecurities,changesinfairvaluewillflow
throughothercomprehensiveincome,withamountsreclassifiedoutofothercomprehensiveincomeintoearningsuponsaleor
“other-than-temporary”impairment.
3MreviewsimpairmentsassociatedwithitsmarketablesecuritiesinaccordancewiththemeasurementguidanceprovidedbyASC
320,Investments-DebtandEquitySecurities,whendeterminingtheclassificationoftheimpairmentas“temporary”or“other-than-
temporary”.Atemporaryimpairmentchargeresultsinanunrealizedlossbeingrecordedintheothercomprehensiveincome
componentofshareholders’equity.Suchanunrealizedlossdoesnotreducenetincomeattributableto3Mfortheapplicable
accountingperiodbecausethelossisnotviewedasother-than-temporary.Thefactorsevaluatedtodifferentiatebetweentemporary
andother-than-temporaryincludetheprojectedfuturecashflows,creditratingsactions,andassessmentofthecreditqualityofthe
underlyingcollateral,aswellasotherfactors.
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