3M 2014 Annual Report Download - page 73

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67
Reclassifications out of Accumulated Other Comprehensive Income
Attributable to 3M
Amount Reclassified from
(Millions) Accumulated Other Comprehensive Income
Location on Income
Statement
Details about Accumulated Other
Comprehensive Income Components
Year ended
December 31,
2014
Year ended
December 31,
2013
Year ended
December 31,
2012
Gains (losses) associated with, defined
benefit pension and postretirement plans
amortization
Transition asset
$
1
$
1
$
1
See Note 10
Prior service benefit
59
77
84
See Note 10
Net actuarial loss
(420)
(647)
(700)
See Note 10
Total before tax
(360)
(569)
(615)
Tax effect
122
197
219
Provision for income
taxes
Net of tax
$
(238)
$
(372)
$
(396)
Debt and equity security gains (losses)
Sales or impairments
of securities
$
(1)
$
―
$
―
Selling, general and
administrative expenses
Total before tax
(1)
―
―
Tax effect
―
―
―
Provision for income
taxes
Net of tax
$
(1)
$
―
$
―
Cash flow hedging instruments gains
(losses)
Foreign currency forward/option
contracts
$
3
$
(11)
$
41
Cost of sales
Foreign currency forward contracts
―
(108)
42
Interest expense
Commodity price swap contracts
2
(2)
(10)
Cost of sales
Interest rate swap contracts
(1)
(1)
(1)
Interest expense
Total before tax
4
(122)
72
Tax effect
(1)
45
(26)
Provision for income
taxes
Net of tax
$
3
$
(77)
$
46
Total reclassifications for the period,
net of tax
$
(236)
$
(449)
$
(350)
Purchase and Sale of Subsidiary Shares
On September 1, 2014, 3M (via Sumitomo 3M Limited) purchased Sumitomo Electric Industries, Ltd.’s 25 percent interest
in 3M’s consolidated Sumitomo 3M Limited subsidiary for 90 billion Japanese Yen. Upon completion of the transaction,
3M owned 100 percent of Sumitomo 3M Limited. This transaction was recorded as a financing activity (Purchase of
noncontrolling interest) in the statement of cash flows.
In April 2014, 3M purchased the remaining noncontrolling interest in a consolidated 3M subsidiary for an immaterial
amount, which was classified as a financing activity (Purchase of noncontrolling interest) in the consolidated statement of
cash flows.
The following table summarizes the effects of these 2014 transactions on equity attributable to 3M Company
shareholders.