3M 2006 Annual Report Download - page 81

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
Supplemental Balance Sheet Information (continued)
 
(Millions) 2006 2005
Other liabilities
Non-funded pension and postretirement benefits $1,437 $ 710
Employee benefits 602 595
Product and other claims 311 322
Deferred income taxes 84 1,342
Minority interest in subsidiaries 278 311
Deferred income 50 45
Capital lease obligations 65 59
Other 138 215
Total other liabilities $2,965 $3,599
Accounts payable (included as a separate line item in the Consolidated Balance Sheet) includes drafts payable on
demand of $65 million and $56 million as of December 31, 2006, and 2005, respectively.
127(6XSSOHPHQWDO6WRFNKROGHUV¶(TXLW\DQG$ccumulated Other Comprehensive Income Information
Common stock ($.01 par value per share) of 3.0 billion shares is authorized, with 944,033,056 shares issued. Treasury
stock is reported at cost, with 209,670,254 shares at December 31, 2006, 189,494,669 shares at December 31, 2005,
and 170,514,775 shares at December 31, 2004. Preferred stock, without par value, of 10 million shares is authorized but
unissued.
The components of the ending balances of accumulated other comprehensive income (loss) as of December 31 follow:
$FFXPXODWHG2WKHU&RPSUHKHQVLYH,QFRPH/RVV Unrealized Unrealized
Defined gain (loss) gain (loss)
Cumulative benefit on debt and on cash flow
translation pension plans equity hedging
(Millions) Total adjustment adjustment securities instrument
s
Balance at December 31, 2003 $(1,554) $(208) $(1,303) $ 2 $ (45)
3UHWD[DPRXQW    ±  
Tax effect (727) 7 (731) ± 
1HWRIWD[DPRXQW    ± 3
Balance at December 31, 2004 132 282 (110) 2 (42)
Pre-tax amount (497) (597) (28) 2 126
Tax effect (46) 19 (18) (1) (46)
Net-of-tax amount (543) (578) (46) 1 80
Balance at December 31, 2005 (411) (296) (156) 3 38
Pre-tax amount (2,791) 503 (3,208) (1) (85)
Tax effect    ± 
Net-of-tax amount (1,462) 506 (1,911) (1) (56)
Balance at December 31, 2006 $(1,873) $ 210 $(2,067) $ 2 $ (18)
,Q6HSWHPEHUWKH)$6%LVVXHG6)$61R³(PSOR\HUV¶$FFRXQWLQJIRU'HILQHGBenefit Pension and Other
Postretirement Plans, an amendment of FASB Statements 1RDQG5´7KLVVWDQGDUGHOLPLQDWHGWKH
UHTXLUHPHQWIRUD³PLQLPXPSHQVLRQOLDELOLW\DGMXVWPHQW´that was previously required under SFAS No. 87. This
standard required employers to recognize the underfunded or overfunded status of a defined benefit plan as an asset
or liability in its statement of financial position. As a result of the implementation of SFAS No. 158, the Company
recognized an after-tax decrease in accumulated other comprehensive income of $1.187 billion and $513 million for