http://metricscst.3m.com/dcscxx2ut8w8wfpdguvicaapw_8q7i/njs.gif?dcssip=www.corporate-ir.net&dcsuri=/nojavascript&WT.js=No
Print Page | Close Window

SEC Filings


8-K
3M CO filed this Form 8-K on 01/24/2013
Entire Document
 << Previous Page | Next Page >>

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): January 24, 2013

 

3M COMPANY

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

File No. 1-3285

 

41-0417775

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

 

3M Center, St. Paul, Minnesota

 

55144-1000

(Address of Principal Executive Offices)

 

(Zip Code)

 

(651) 733-1110

(Registrant’s Telephone Number, Including Area Code)

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 2.02.  Results of Operations and Financial Condition

 

On January 24, 2013, 3M Company issued a press release reporting fourth-quarter and full-year 2012 results (attached hereunder as Exhibit 99 and incorporated herein by reference).

 

Item 9.01.  Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit Number

 

Description

99

 

Press Release, dated as of January 24, 2013, of 3M Company (furnished pursuant to Item 2.02 hereof)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

3M COMPANY

 

 

 

 

 

By:

/s/ Gregg M. Larson

 

 

 

Gregg M. Larson,

Dated: January 24, 2013

 

Deputy General Counsel and Secretary

 

 

2


 

Exhibit 99

 

FOR IMMEDIATE RELEASE

 

3M Delivers Fourth-Quarter Sales of $7.4 Billion and Earnings of $1.41 per Share;

Company Posts Record Full-Year Sales of $29.9 Billion and Earnings of $6.32 per Share

 

ST. PAUL, Minn. — January 24, 2013 - 3M (NYSE: MMM) today reported fourth-quarter earnings of $1.41 per share, an increase of 4.4 percent versus the fourth quarter of 2011. Operating income was $1.4 billion and operating income margins for the quarter were 19.5 percent. Fourth-quarter net income was $1.0 billion and free cash flow was $1.2 billion.

 

Sales rose 4.2 percent year-on-year to $7.4 billion, an all-time fourth-quarter record. Organic local-currency sales grew 4.3 percent, acquisitions added 0.9 percent to sales and currency impacts reduced sales by 1.0 percent year-on-year.

 

Organic local-currency sales growth was 8.7 percent in Consumer and Office, 8.3 percent in Display and Graphics, 5.9 percent in Health Care, 3.9 percent in Industrial and Transportation and 1.8 percent in Electro and Communications; Safety, Security and Protection Services declined 1.7 percent year-on-year. On a geographic basis, organic local-currency sales grew 9.7 percent in Latin America/Canada, 5.8 percent in Asia Pacific, 5.2 percent in the U.S. and declined 1.0 percent in EMEA (Europe, Middle East and Africa).

 

For the full year 2012, 3M posted record sales of $29.9 billion, up 1.0 percent year-on-year. Organic local-currency sales grew 2.6 percent and acquisitions added 0.8 percent to sales. Foreign currency translation reduced sales by 2.4 percent year-on-year.

 

Four of the company’s six business segments posted full-year organic local-currency growth, led by Health Care at 4.7 percent and Industrial and Transportation at 4.5 percent. Latin America/Canada was the fastest-growing geographic region in 2012 at 10.9 percent followed by the U.S. at 4.2 percent.

 

Full-year 2012 earnings were $6.32 per share, an increase of 6.0 percent. Operating margins were 21.7 percent and return on invested capital was 20 percent.

 

“Fourth-quarter was a good finish to a successful year for 3M,” said Inge G. Thulin, 3M chairman, president and chief executive officer. “Our people executed well in the face of challenging macroeconomic conditions and we have built good momentum to innovate and move forward in 2013.”

 

3M affirmed its 2013 full-year performance expectations. The company anticipates 2013 earnings to be in the range of $6.70 to $6.95 per share with organic local-currency sales growth of 2 to 5 percent. 3M also expects free cash flow conversion to be in the range of 90 to 100 percent.

 

 



 

Fourth-Quarter Business Segment Discussion

 

Industrial and Transportation

·                  Sales of $2.5 billion, up 3.8 percent in U.S. dollars. Organic local-currency sales increased 3.9 percent, acquisitions (Ceradyne) added 1.2 percent to sales and foreign currency translation reduced sales by 1.3 percent.

·                  On an organic local-currency basis:

·                  Sales growth was strongest in liquid filtration, aerospace, industrial adhesives and tapes, abrasives and automotive OEM; both the advanced materials and the renewable energy businesses declined year-on-year.

·                  Sales increased in Latin America/Canada, the U.S. and Asia Pacific and were flat in EMEA.

·                  Operating income was $469 million, down 0.4 percent year-on-year; operating margin of 18.8 percent.

 

Health Care

·                  Sales of $1.3 billion, up 5.6 percent in U.S. dollars. Organic local-currency sales increased 5.9 percent, acquisitions (CodeRyte) added 0.5 percent and foreign currency translation reduced sales by 0.8 percent.

·                  On an organic local-currency basis:

·                  Sales increased in all businesses, with the strongest growth in food safety, health information systems, skin/wound care and oral care.

·                  Positive sales growth in all major geographies, with double-digit growth in Latin America/Canada and Asia Pacific.

·                  Operating income increased 10.8 percent to $430 million; operating margin of 32.3 percent.

 

Consumer and Office

·                  Sales of $1.1 billion, up 7.7 percent in U.S. dollars. Organic local-currency sales increased 8.7 percent and foreign currency translation reduced sales by 1.0 percent.

·                  On an organic local-currency basis:

·                  Growth was led by consumer health care, DIY and stationery and office supplies.

·                  Sales rose in all major geographies with double-digit growth in the U.S. and Latin America/Canada.

·                  Operating income increased 28.8 percent to $230 million; operating margin of 21.0 percent.

 

Display and Graphics

·                  Sales of $910 million, up 10.6 percent in U.S. dollars. Organic local-currency sales increased 8.3 percent, acquisitions (Federal Signal Technologies) added 3.2 percent and foreign currency translation reduced sales by 0.9 percent.

·                  On an organic local-currency basis:

·                  Sales increased at a double-digit rate in optical systems; sales also increased in architectural markets, traffic safety systems and commercial graphics.

·                  Sales increased in Asia Pacific, Latin America/Canada and the U.S. and declined year-on-year in EMEA.

·                  Operating income decreased 3.6 percent to $152 million; operating margin of 16.7 percent.

 

Safety, Security and Protection Services

·                  Sales of $904 million, down 2.5 percent in U.S. dollars. Organic local-currency sales decreased 1.7 percent, divestitures reduced sales by 0.1 percent and foreign currency translation reduced sales by 0.7 percent.

 



 

·                  On an organic local-currency basis:

·                  Sales growth was strongest in infrastructure protection, personal safety and roofing granules; sales declined year-on-year in security systems.

·                  Sales increased in Latin America/Canada and Asia Pacific; sales declined in the U.S. and EMEA.

·                  Operating income decreased 5.2 percent to $162 million; operating margin of 18.0 percent.

 

Electro and Communications

·                  Sales of $776 million, up 1.0 percent in U.S. dollars. Organic local-currency sales increased 1.8 percent and foreign currency translation reduced sales by 0.8 percent.

·                  On an organic local-currency basis:

·                  Sales increased in both electrical and telecom markets, partially offset by a decline in consumer electronics-related businesses.

·                  Sales increased in Latin America/Canada, the U.S. and Asia Pacific and declined year-on-year in EMEA.

·                  Operating income of $142 million, down 6.5 percent; operating margin of 18.4 percent.

 

3M will conduct an investor teleconference at 9:00 a.m. EST (8:00 a.m. CST) today. Investors can access this conference via the following:

·               Live webcast at http://investor.3M.com.

·               Live telephone:

Call 800-762-2596 within the U.S. or +1 212-231-2916 outside the U.S. Please join the call at least 10 minutes before the start time.

·               Webcast replay:

Go to 3M’s Investor Relations website at http://investor.3M.com and click on “Quarterly Earnings.”

·               Telephone replay:

Call 800-633-8284 (for both U.S. and outside the U.S.; access code is 21609530).

The telephone replay will be available until 10:00 a.m. CST on January 29, 2013.

 

Forward-Looking Statements

This news release contains forward-looking information about 3M’s financial results and estimates and business prospects that involve substantial risks and uncertainties. You can identify these statements by the use of words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will,” “target,” “forecast” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans or prospects. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic and capital markets conditions and other factors beyond the Company’s control, including natural and other disasters affecting the operations of the Company or its customers and suppliers; (2) the Company’s credit ratings and its cost of capital; (3) competitive conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and market acceptance of new product offerings; (6) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) security breaches and other disruptions to the Company’s information technology infrastructure; and (10) legal proceedings, including significant

 



 

developments that could occur in the legal and regulatory proceedings described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, and its subsequent quarterly reports on Form 10-Q (the “Reports”). Changes in such assumptions or factors could produce significantly different results. A further description of these factors is located in the Reports under “Cautionary Note Concerning Factors That May Affect Future Results” and “Risk Factors” in Part I, Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part II, Item 1A (Quarterly Report). The information contained in this news release is as of the date indicated. The Company assumes no obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments.

 



 

3M Company and Subsidiaries

CONSOLIDATED STATEMENT OF INCOME

(Millions, except per-share amounts)

(Unaudited)

 

 

 

Three-months ended

December 31,

 

Twelve-months ended

December 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

7,387

 

$

7,089

 

$

29,904

 

$

29,611

 

Operating expenses

 

 

 

 

 

 

 

 

 

Cost of sales

 

3,991

 

3,824

 

15,685

 

15,693

 

Selling, general and administrative expenses

 

1,535

 

1,522

 

6,102

 

6,170

 

Research, development and related expenses

 

418

 

379

 

1,634

 

1,570

 

Total operating expenses

 

5,944

 

5,725

 

23,421

 

23,433

 

Operating income

 

1,443

 

1,364

 

6,483

 

6,178

 

Interest expense and income

 

 

 

 

 

 

 

 

 

Interest expense

 

44

 

45

 

171

 

186

 

Interest income

 

(10

)

(10

)

(39

)

(39

)

Total interest expense – net

 

34

 

35

 

132

 

147

 

Income before income taxes

 

1,409

 

1,329

 

6,351

 

6,031

 

Provision for income taxes

 

405

 

355

 

1,840

 

1,674

 

Net income including noncontrolling interest

 

$

1,004

 

$

974

 

$

4,511

 

$

4,357

 

Less: Net income attributable to noncontrolling interest

 

13

 

20

 

67

 

74

 

Net income attributable to 3M

 

$

991

 

$

954

 

$

4,444

 

$

4,283

 

Weighted average 3M common shares outstanding – basic

 

691.5

 

701.2

 

693.9

 

708.5

 

Earnings per share attributable to 3M common shareholders – basic

 

$

1.43

 

$

1.36

 

$

6.40

 

$

6.05

 

Weighted average 3M common shares outstanding – diluted

 

701.2

 

707.5

 

703.3

 

719.0

 

Earnings per share attributable to 3M common shareholders – diluted

 

$

1.41

 

$

1.35

 

$

6.32

 

$

5.96

 

Cash dividends paid per 3M common share

 

$

0.59

 

$

0.55

 

$

2.36

 

$

2.20

 

 



 

3M Company and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEET

(Dollars in millions)

(Unaudited)

 

 

 

Dec. 31,
2012

 

Dec. 31,
2011

 

ASSETS

 

 

 

 

 

Current assets

 

 

 

 

 

Cash and cash equivalents

 

$

2,883

 

$

2,219

 

Marketable securities — current

 

1,648

 

1,461

 

Accounts receivable — net

 

4,061

 

3,867

 

Inventories

 

3,837

 

3,416

 

Other current assets

 

1,201

 

1,277

 

Total current assets

 

13,630

 

12,240

 

Marketable securities — non-current

 

1,162

 

896

 

Investments

 

163

 

155

 

Property, plant and equipment — net

 

8,378

 

7,666

 

Goodwill and intangible assets — net

 

9,310

 

8,963

 

Prepaid pension benefits

 

16

 

40

 

Other assets

 

1,217

 

1,656

 

Total assets

 

$

33,876

 

$

31,616

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

Current liabilities

 

 

 

 

 

Short-term borrowings and

 

 

 

 

 

current portion of long-term debt

 

$

1,085

 

$

682

 

Accounts payable

 

1,762

 

1,643

 

Accrued payroll

 

701

 

676

 

Accrued income taxes

 

371

 

355

 

Other current liabilities

 

2,281

 

2,085

 

Total current liabilities

 

6,200

 

5,441

 

Long-term debt

 

4,916

 

4,484

 

Pension and postretirement benefits

 

3,086

 

3,972

 

Other liabilities

 

1,634

 

1,857

 

Total liabilities

 

$

15,836

 

$

15,754

 

Total equity

 

$

18,040

 

$

15,862

 

Shares outstanding

 

 

 

 

 

December 31, 2012: 687,091,650 shares

 

 

 

 

 

December 31, 2011: 694,970,041 shares

 

 

 

 

 

Total liabilities and equity

 

$

33,876

 

$

31,616

 

 


 


 

3M Company and Subsidiaries

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Dollars in millions)

(Unaudited)

 

 

 

Twelve-months ended

December 31,

 

 

 

2012

 

2011

 

NET CASH PROVIDED BY OPERATING ACTIVITIES

 

$

5,300

 

$

5,284

 

Cash flows from investing activities:

 

 

 

 

 

Purchases of property, plant and equipment

 

(1,484

)

(1,379

)

Acquisitions, net of cash acquired

 

(1,046

)

(649

)

Purchases and proceeds from sale or maturities of marketable securities and investments — net

 

(211

)

(745

)

Other investing activities

 

55

 

55

 

NET CASH USED IN INVESTING ACTIVITIES

 

(2,686

)

(2,718

)

Cash flows from financing activities:

 

 

 

 

 

Change in debt

 

722

 

(307

)

Purchases of treasury stock

 

(2,204

)

(2,701

)

Proceeds from issuances of treasury stock pursuant to stock option and benefit plans

 

1,012

 

902

 

Dividends paid to shareholders

 

(1,635

)

(1,555

)

Other financing activities

 

47

 

(14

)

NET CASH USED IN FINANCING ACTIVITIES

 

(2,058

)

(3,675

)

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

108

 

(49

)

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

664

 

(1,158

)

Cash and cash equivalents at beginning of year

 

2,219

 

3,377

 

Cash and cash equivalents at end of period

 

$

2,883

 

$

2,219

 

 



 

3M Company and Subsidiaries

SUPPLEMENTAL CASH FLOW AND

OTHER SUPPLEMENTAL FINANCIAL INFORMATION

(Dollars in millions)

(Unaudited)

 

 

 

Three-months ended

December 31,

 

Twelve-months ended

December 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

NON-GAAP MEASURES

 

 

 

 

 

 

 

 

 

Free Cash Flow:

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$

1,738

 

$

1,738

 

$

5,300

 

$

5,284

 

Purchases of property, plant and equipment

 

(507

)

(517

)

(1,484

)

(1,379

)

Free Cash Flow (a)

 

$

1,231

 

$

1,221

 

$

3,816

 

$

3,905

 


(a)         Free cash flow is not defined under U.S. GAAP. Therefore, it should not be considered a substitute for income or cash flow data prepared in accordance with GAAP and may not be comparable to similarly titled measures used by other companies. The company defines free cash flow as net cash provided by operating activities less purchases of property, plant and equipment. It should not be inferred that the entire free cash flow amount is available for discretionary expenditures. The company believes free cash flow is a useful measure of performance and uses this measure as an indication of the strength of the company and its ability to generate cash.

 

 

 

2012

 

2011

 

OTHER NON-GAAP MEASURES:

 

 

 

 

 

Net Working Capital Turns at Dec. 31 (b)

 

4.8

 

5.0

 

Return on Invested Capital for the twelve-months ended Dec. 31 (c)

 

19.8

%

19.9

%


(b)         The company uses various working capital measures that place emphasis and focus on certain working capital assets and liabilities. 3M’s net working capital index is defined as quarterly net sales multiplied by four, divided by ending net accounts receivable plus inventory less accounts payable. This measure is not recognized under U.S. GAAP and may not be comparable to similarly titled measures used by other companies.

 

(c)          The company uses non-GAAP measures to focus on shareholder value creation. 3M uses Return on Invested Capital (ROIC), defined as annualized after-tax operating income (including interest income) divided by average operating capital. Operating capital is defined as net assets (total assets less total liabilities) excluding debt. This measure is not recognized under U.S. GAAP and may not be comparable to similarly titled measures used by other companies.

 



 

3M Company and Subsidiaries

SALES CHANGE ANALYSIS

(Unaudited)

 

Sales Change Analysis
By Geographic Area

 

 

Three-months ended December 31, 2012

 

 

 

United
States

 

Asia-
Pacific

 

Europe,
Middle
East and
Africa

 

Latin
America/
Canada

 

World-
Wide

 

Volume — organic

 

3.8

%

7.4

%

(2.4

)%

6.6

%

3.6

%

Price

 

1.4

 

(1.6

)

1.4

 

3.1

 

0.7

 

Organic local-currency sales

 

5.2

 

5.8

 

(1.0

)

9.7

 

4.3

 

Acquisitions

 

1.9

 

 

0.6

 

0.4

 

0.9

 

Translation

 

 

(0.7

)

(1.8

)

(2.9

)

(1.0

)

Total sales change

 

7.1

%

5.1

%

(2.2

)%

7.2

%

4.2

%

 

Worldwide
Sales Change Analysis
By Business Segment

 

 

Three-months ended December 31, 2012

 

 

 

Organic
local-
currency
sales

 

Acqui-
sitions

 

Divest-
itures

 

Trans-
lation

 

Total
sales
change

 

Industrial and Transportation

 

3.9

%

1.2

%

%

(1.3

)%

3.8

%

Health Care

 

5.9

%

0.5

%

%

(0.8

)%

5.6

%

Consumer and Office

 

8.7

%

%

%

(1.0

)%

7.7

%

Safety, Security and Protection Services

 

(1.7

)%

%

(0.1

)%

(0.7

)%

(2.5

)%

Display and Graphics

 

8.3

%

3.2

%

%

(0.9

)%

10.6

%

Electro and Communications

 

1.8

%

%

%

(0.8

)%

1.0

%

 



 

Sales Change Analysis
By Geographic Area

 

 

Twelve-months ended December 31, 2012

 

 

 

United
States

 

Asia-
Pacific

 

Europe,
Middle
East and
Africa

 

Latin
America/
Canada

 

World- Wide

 

Volume — organic

 

2.1

%

1.3

%

(2.8

)%

6.9

%

1.2

%

Price

 

2.1

 

(1.2

)

2.2

 

4.0

 

1.4

 

Organic local-currency sales

 

4.2

 

0.1

 

(0.6

)

10.9

 

2.6

 

Acquisitions

 

0.8

 

0.3

 

1.9

 

0.1

 

0.8

 

Translation

 

 

(0.6

)

(6.2

)

(6.3

)

(2.4

)

Total sales change

 

5.0

%

(0.2

)%

(4.9

)%

4.7

%

1.0

%

 

Worldwide
Sales Change Analysis
By Business Segment

 

 

Twelve-months ended December 31, 2012

 

 

 

 

 

Organic
local-
currency
sales

 

Acqui-
sitions

 

Trans-
lation

 

Total
sales
change

 

 

 

Industrial and Transportation

 

4.5

%

1.1

%

(2.9

)%

2.7

%

 

 

Health Care

 

4.7

%

0.3

%

(2.5

)%

2.5

%

 

 

Consumer and Office

 

3.8

%

2.0

%

(1.9

)%

3.9

%

 

 

Safety, Security and Protection Services

 

2.2

%

%

(2.7

)%

(0.5

)%

 

 

Display and Graphics

 

(2.4

)%

0.9

%

(1.6

)%

(3.1

)%

 

 

Electro and Communications

 

(0.8

)%

%

(1.6

)%

(2.4

)%

 

 

 



 

3M Company and Subsidiaries

BUSINESS SEGMENTS

(Dollars in millions)

(Unaudited)

 

BUSINESS SEGMENT INFORMATION
NET SALES
(Millions)

 

 

Three-months ended

December 31,

 

Twelve-months ended

December 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

Industrial and Transportation

 

$

2,493

 

$

2,402

 

$

10,346

 

$

10,073

 

Health Care

 

1,332

 

1,261

 

5,158

 

5,031

 

Consumer and Office

 

1,097

 

1,019

 

4,316

 

4,153

 

Safety, Security and Protection Services

 

904

 

927

 

3,802

 

3,821

 

Display and Graphics

 

910

 

823

 

3,560

 

3,674

 

Electro and Communications

 

776

 

768

 

3,228

 

3,306

 

Corporate and Unallocated

 

1

 

2

 

5

 

11

 

Elimination of Dual Credit

 

(126

)

(113

)

(511

)

(458

)

Total Company

 

$

7,387

 

$

7,089

 

$

29,904

 

$

29,611

 

 

BUSINESS SEGMENT INFORMATION

OPERATING INCOME

(Millions)

 

 

Three-months ended

 

Twelve-months ended

 

 

 

December 31,

 

December 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

Industrial and Transportation

 

$

469

 

$

472

 

$

2,258

 

$

2,057

 

Health Care

 

430

 

389

 

1,646

 

1,489

 

Consumer and Office

 

230

 

179

 

930

 

840

 

Safety, Security and Protection Services

 

162

 

171

 

847

 

814

 

Display and Graphics

 

152

 

157

 

693

 

788

 

Electro and Communications

 

142

 

153

 

691

 

712

 

Corporate and Unallocated

 

(114

)

(132

)

(469

)

(421

)

Elimination of Dual Credit

 

(28

)

(25

)

(113

)

(101

)

Total Company

 

$

1,443

 

$

1,364

 

$

6,483

 

$

6,178

 

 



 

About 3M

3M captures the spark of new ideas and transforms them into thousands of ingenious products.  Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better.  3M is the innovation company that never stops inventing.  With $30 billion in sales, 3M employs 88,000 people worldwide and has operations in more than 70 countries.

 

Investor Contacts:

Matt Ginter

 

Media Contact:

 

Jacqueline Berry

 

3M

 

 

 

3M

 

(651) 733-8206

 

 

 

(651) 733-3611

 

 

 

 

 

 

 

Bruce Jermeland

 

 

 

 

 

3M

 

 

 

 

 

(651) 733-1807

 

 

 

 

 

From:

3M Public Relations and Corporate Communications

3M Center, Building 225-1S-15

St. Paul, MN 55144-1000

 


 

 << Previous Page | Next Page >>