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Please find page 83 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
TheCompanyhasinsurancethatitbelieves,basedonwhatiscurrentlyknown,willresultintheprobablerecoveryofaportionofthe
decreaseinoriginalassetvalue.Inthefirstquarterof2014,3Mandcertain3MbenefitplansfiledalawsuitintheU.S.DistrictCourt
fortheDistrictofMinnesotaagainstfiveinsurersseekinginsurancecoveragefortheWGTradingCompanyclaim.InSeptember
2015,thecourtruledinfavorofthedefendantinsurancecompaniesonamotionforsummaryjudgmentanddismissedthelawsuit.In
October2015,3Mandthe3MbenefitplansfiledanoticeofappealtotheUnitedStatesCourtofAppealsfortheEighthCircuit.As
ofthe2015measurementdate,theseholdingsrepresentedlessthanonehalfofonepercentof3M’sfairvalueoftotalplanassets.3M
currentlybelievesthattheresolutionoftheseeventswillnothaveamaterialadverseeffectontheconsolidatedfinancialpositionof
theCompany.
Thefollowingtablesincludeareconciliationofthebeginningandendingbalancesofthebenefitobligationandthefairvalueofplan
assetsaswellasasummaryoftherelatedamountsrecognizedintheCompany’sconsolidatedbalancesheetasofDecember31of
therespectiveyears.3Malsohascertainnon-qualifiedunfundedpensionandpostretirementbenefitplans,inclusiveofplansrelated
tosupplement/excessbenefitsforemployeesimpactedbyparticularrelocationsandothermatters,thatindividuallyandinthe
aggregatearenotsignificantandwhicharenotincludedinthetablesthatfollow.Theobligationsfortheseplansareincludedwithin
otherliabilitiesintheCompany’sconsolidatedbalancesheetandaggregatedlessthan$35millionasofDecember31,2015and2014
.
QualifiedandNon-qualified
PensionBenefits Postretirement
UnitedStates International Benefits
(Millions) 2015 2014 2015 2014 2015 2014
Changeinbenefitobligation
Benefitobligationatbeginningofyear $ 16,452 $ 13,967 $ 6,979 $ 6,346 $ 2,462 $ 2,017
Acquisitions/Transfersin — — 94 — — —
Servicecost 293 241 154 141 75 65
Interestcost 655 676 206 252 98 97
Participantcontributions — — 9 10 14 18
Foreignexchangeratechanges — — (589) (663) (22) (11)
Planamendments — (266) (6) 3 (211) —
Actuarial(gain)loss (657) 2,874 (274) 1,128 (80) 415
MedicarePartDReimbursement — — — — 1 1
Benefitpayments (874) (1,039) (232) (235) (122) (140)
Settlements,curtailments,specialterminationbenefits
andother (13) (1) (19) (3) 1 —
Benefitobligationatendofyear $ 15,856 $ 16,452 $ 6,322 $ 6,979 $ 2,216 $ 2,462
Changeinplanassets
Fairvalueofplanassetsatbeginningofyear $ 14,643 $ 13,889 $ 5,957 $ 5,758 $ 1,436 $ 1,405
Acquisitions/Transfersin — — 8 — — —
Actualreturnonplanassets 100 1,749 287 813 36 148
Companycontributions 113 45 151 165 3 5
Participantcontributions — — 9 10 14 18
Foreignexchangeratechanges — — (498) (554) — —
Benefitpayments (874) (1,039) (232) (235) (122) (140)
Settlements,curtailments,specialterminationbenefits
andother (16) (1) (13) — — —
Fairvalueofplanassetsatendofyear $ 13,966 $ 14,643 $ 5,669 $ 5,957 $ 1,367 $ 1,436
Fundedstatusatendofyear $ (1,890) $ (1,809) $ (653) $ (1,022) $ (849) $ (1,026)
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