3M 2007 Annual Report Download - page 48

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42
Consolidated Statement of Changes in Stockholders’ Equity and Comprehensive Income
3M Company and Subsidiaries
Years Ended December 31
(Millions)
2007 2006 2005
Common Stock, par value $ 9 $ 9 $ 9
Additional Paid-in Capital
Beginning balance 2,484 2,225 2,018
Stock-based compensation expense (excluding tax benefit) 228 200 155
Stock-based compensation tax benefit 73 59 52
Ending balance 2,785 2,484 2,225
Retained Earnings
Beginning balance 17,933 15,715 14,198
Adjustment to beginning balance to initially apply FIN 48 (1) - -
Net income 4,096 3,851 3,111
Dividends paid (1,380) (1,376) (1,286)
Issuances pursuant to stock option and benefit plans (332) (257) (308)
Ending balance 20,316 17,933 15,715
Treasury Stock
Beginning balance (8,456) (6,965) (5,503)
Reacquired stock (3,237) (2,332) (2,377)
Issuances pursuant to stock option and benefit plans 1,160 841 915
Issuances pursuant to acquisitions 13 - -
Ending balance (10,520) (8,456) (6,965)
Unearned Compensation
Beginning balance (138) (178) (196)
Amortization of unearned compensation 42 40 18
Ending balance (96) (138) (178)
Accumulated Other Comprehensive Income (Loss)
Beginning balance (1,873) (411) 132
Cumulative translation adjustment 532 506 (578)
Defined benefit pension plans adjustment 614 7 (46)
Adjustment to initially apply SFAS No. 158 - (1,918) -
Debt and equity securities - unrealized gain (loss) (10) (1) 1
Cash flow hedging instruments - unrealized gain (loss) (10) (56) 80
Ending balance (747) (1,873) (411)
Total Stockholder's Equity $11,747 $ 9,959 $10,395
Comprehensive Income
Net income 4,096 3,851 3,111
Cumulative translation adjustment 532 506 (578)
Defined benefit pension plans adjustment 614 7 (46)
Debt and equity securities - unrealized gain (loss) (10) (1) 1
Cash flow hedging instruments – unrealized gain (loss) (10) (56) 80
Total Comprehensive Income $ 5,222 $ 4,307 $ 2,568
Supplemental share information: 2007 2006 2005
Treasury stock
Beginning balance 209.7 189.5 170.5
Reacquired stock 39.7 31.2 30.7
Issuances pursuant to stock options and benefit plans (14.3) (11.0) (11.7)
Issuances pursuant to acquisitions (0.2) - -
Ending balance 234.9 209.7 189.5
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.