3M 2015 Annual Report Download - page 72

TableofContents
ReclassificationsoutofAccumulatedOtherComprehensiveIncomeAttributableto3M

AmountsReclassifiedfrom   
AccumulatedOtherComprehensiveIncome   
(Millions)  Yearended  Yearended  Yearended  
DetailsaboutAccumulatedOther December31, December31, December31, LocationonIncome 
ComprehensiveIncomeComponents 2015 2014 2013 Statement 
Gains(losses)associatedwith,definedbenefitpensionand
postretirementplansamortization         
Transitionasset $ 1 $ 1 $ 1  SeeNote11 
Priorservicebenefit  79  59  77  SeeNote11 
Netactuarialloss   (626)  (420)  (647)SeeNote11 
Curtailments/Settlements  9  —  —  SeeNote11 
Totalbeforetax (537)(360)(569)  
Taxeffect  176  122  197  Provisionforincometaxes 
Netoftax $(361)$(238)$(372)  
        
Debtandequitysecuritygains(losses)         
Salesorimpairmentsofsecurities $ — $(1)$ —  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 $ 178 $ 3 $(11) Costofsales 
Foreigncurrencyforwardcontracts  —  — (108) Interestexpense 
Commoditypriceswapcontracts (2) 2 (2) Costofsales 
Interestrateswapcontracts (2)(1)(1) Interestexpense 
Totalbeforetax  174  4 (122)  
Taxeffect (63)(1) 45  Provisionforincometaxes 
Netoftax $ 111 $ 3 $(77)  
Totalreclassificationsfortheperiod,netoftax $(250)$(236)$(449)  
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PurchaseandSaleofSubsidiaryShares
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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.
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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.
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Thefollowingtablesummarizestheeffectsofthese2014transactionsonequityattributableto3MCompanyshareholders:
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Yearended 
(Millions)  December31,2014 
Netincomeattributableto3M  $ 4,956 
Impactofpurchaseofsubsidiaryshares   (409)
Changein3MCompanyshareholders’equityfromnetincome   
attributableto3Mandimpactofpurchaseofsubsidiaryshares  $ 4,547 
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InMarch2013,3Msoldsharesin3MIndiaLimited,asubsidiaryoftheCompany,inreturnfor$8million.Thenoncontrolling
interestsharesofthissubsidiarytradeonapublicexchangeinIndia.ThissaleofsharescompliedwithanamendmenttoIndian
securitiesregulationsthatrequired3MIndiaLimited,asalistedcompany,toachieveaminimumpublicshareholdingofatleast25
percent.Asaresultofthistransaction,3M’sownershipin3MIndiaLimitedwasreducedfrom76percentto75percent.The$8
millionreceivedinthefirstquarterof2013wasclassifiedasotherfinancingactivityintheconsolidatedstatementofcashflows.
BecausetheCompanyretaineditscontrollinginterest,the
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