Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow Consolidated Statements of Income Years ended December 31 (S millions) 2010 2009 2008 Net sales Operating expenses Cost of sales Selling, general and administrative expenses Research, development and related expenses Loss/(gain) from sale of business Total operating expenses Operating income Interest expenses and income Interest expense Interest income $26,662 $23,123 $25,269 13,831 12,109 13,379 5,479 4,9075,245 1,434 1,293 1,404 23 20,744 18,309 20,051 5,918 4,814 5,218 215 (38) (37) (105) 110 5,755 4,632 5,108 1,592 1,388 1,588 4,163 3,244 3,520 60 $4,085 $3,193 3,460 201 219 163 182 Total interest expense Income before income taxes Provision for income taxes Net income including noncontrolling interest Less: Net income attributable to noncontrolling interest 78 51 Net income