3M Company In response to the investing public’s demand for greater disclosure of corporate expectations for the future, safe-harbor rules and legislation have been passed to encourage and protect corporations that issue financial forecasts and projections. Review 3M’s Analysis of Financial Condition and Results of Operations—Future Outlook and Forward-Looking Statements sections in Appendix 5B or on the Take Action! CD.

Instructions Refer to 3M’s financial statements and the accompanying notes to answer the following questions.

(a) What initiatives has 3M launched in 2001 that will help meet its economic challenges?

(b) What does 3M estimate its earnings per share will be for 2002?

(c) What caveats or other statements that temper its forecasts does 3M make?

(d) What is the difference between a financial forecast and a financial projection?