3 3M CO 4 INCOME STATEMENT 5 Form Type: 10-K 6 Period End: Dec 31, 2021 7 Date Filed: Feb 09, 2022 B Table Of Contents D E 9 0 Table of Contents 1 3M Company and Subsidiaries 2 B Years ended December 31 5 Consolidated Statement of Income (Millions, except per share amounts) Net sales Operating expenses Cost of sales Selling, general and administrative expenses Research, development and related expenses Gain on sale of businesses Total operating expenses Operating income Other expense (income), net Income before income taxes 2021 2020 2019 $ 35,355 $ 32,184 $ 32,136 18,795 16,605 17,136 7,197 6,929 7,029 1,994 1,878 1,911 (389) (114) 27,986 25,023 25,962 7,369 7,161 6,174 165 366 531 7,204 6,795 5,643 Provision for income taxes 1,285 1,337 Income of consolidated group 1,114 5,919 5,458 4,529 Income (loss) from unconsolidated subsidiaries, net of taxes Net income including noncontrolling interest 10 (5) 5,929 5,453 4,529 Less: Net income (loss) attributable to noncontrolling interest 8 4 12 Net income attributable to 3M $ 5,921 $ 5,449 $ 4,517 Weighted average 3M common shares outstanding - basic Earnings per share attributable to 3M common 579.00 577.60 577.00 shareholders-basic $ 10.23 S 9.43 S 7.83 Weighted average 3M common shares outstanding- diluted Earnings per share attributable to 3M common 585.30 582.20 585.10 shareholders - diluted S 10.12 $ 9.36 $ 7.72 3M CO BALANCE SHEET Form Type: 10-K Period End: Dec 31, 2021 Date Filed: Feb 09, 2022 Table Of Contents Table of Contents 3M Company and Subsidiaries Consolidated Balance Sheet At December 31 (Dollars in millions, except per share amount) Assets Current assets Cash and cash equivalents Marketable securities current Accounts receivable- net of allowances of $189 and $2331 Inventories Finished goods Work in process Raw materials and supplies Total inventories Prepaids Other current assets Total current assets Property, plant and equipment Less: Accumulated depreciation Property, plant and equipment-net Operating lease right of use assets Goodwill Intangible assets-net Other assets 2021 2020 $ 4,564 $ 4,634 201 404 4,660 4,705 2,196 2,081 1577 1226 1212 932 4,985 4.239 654 675 339 325 15,403 14,982 27213 26,650 (17,784) 9429 (17,229) 9,421 858 864 13,486 13,802 5,288 5,835 2,608 2,440 $ 47,072 $ 47,344 Total assets Liabilities Current liabilities Short-term borrowings and current portion of long-term debt $ 1,307 $ 806 Accounts payable 2,994 2,561 Accrued payroll 1020 747 Accrued income taxes 260 300 Operating lease liabilities current 263 256 Other current liabilities 3,191 3,278 Total current liabilities 9,035 7,948 Long-term debt 16,056 17,989 Pension and postretirement benefits 2,870 4,405 Operating lease liabilities 591 609 Other liabilities 3,403 Total liabilities 31,955 3,462 34.413 Commitments and contingencies (Note 16) Equity 3M Company shareholders' equity Common stock, par value, $.01 par value, 944,033,056 shares issued Shares outstanding December 31, 2021 571,845,478 Shares outstanding-December 31, 2020 577,749,638 Additional paid-in capital Retained earnings: Treasury stook, at cost Accumulated other comprehensive income (loss) Total 3M Company shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 9 6,429 45,821 (30,463) 6,162 43.821 (29,404) (6,750) 15,046 7,721) 12.887 71 15,117 64 12.901 $ 47,072 $ 47,344 Calculations to Perform (on the most recent year): 1. Prepare a horizontal (trend) analysis for the balance sheet 2. Prepare a horizontal (trend) analysis for the income statement 3. Prepare a vertical (common size) analysis for the balance sheet 4. Prepare a vertical (common size) analysis for the income statement 5. Net profit margin 6. Gross profit percentage 7. Fixed asset turnover ratio 8. Return on Equity (ROE) 9. Earnings per Share (EPS) 10. Price/Earnings Ratio (P/E) 11.Receivables turnover ratio and days to collect 12. Inventory turnover ratio and days to sell 13.Current ratio 14. Debt-to-assets ratio 15. Times interest earned 3M Company and Subsidiaries Consolidated Statement of Income Years ended December 31 (Millions, except per share amounts) Net sales Operating expenses Cost of sales Selling, general and administrative expenses Research, development and related expenses Gain on sale of businesses Total operating expenses Operating income Other expense (income), net Income before income taxes Provision for income taxes Income of consolidated group Income (loss) from unconsolidated subsidiaries, net of taxes Net income including noncontrolling interest Less: Net income (loss) attributable to noncontrolling interest Net income attributable to 3M Weighted average 3M common shares outstanding-basic Earnings per share attributable to 3M common shareholders-basic Weighted average 3M common shares outstanding-diluted Earnings per share attributable to 3M common shareholders- 2021 2020 2019 35.355 $ 32,184 $ 32,136 18,795 16,605 17,136 7,197 6.929 7,029 1,994 1,878 1,911 (389) (114) 27,986 25,023 25,962 7,369 7,161 6,174 165 366 531 7,204 6,795 5.643 1,285 1,337 1,114 5,919 5,458 4,529 10 (5) 5.929 5,453 4,529 8 4 12 5,921 S 5,449 S 4,517 579.0 577.6 577.0 S 10.23 $ 9.43 S 7.83 585.3 582.2 585.1 diluted $ 10.12 $ 9.36 $ 7.72