Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. 3M COMPANY Consolidated Statements of Income For Years ended December 31 ($ millions) 2015 2014 2013 Net sales $30,274 $31,821 $30,871 Operating expenses Cost of sales Selling, general and administrative expenses Research, development and related expenses 15,383 16,44716,106 6,1826,469 6,384 1,7631,770 1,715 23,328 24,68624,205 6,9467,135 6,666 Total operating expenses Operating income Interest expenses and income 149 142 (33) 109 145 (41) 104 Interest expense Interest income (26) 123 Total interest expense-net Income before income taxes Provision for income taxes Net income including noncontrolling interest Less: Net income attributable to noncontrolling interest Net income attributable to 3M 6,823 7,0266,562 1,982 2,028 1,841 $4,841 $4,998$4,721 62 8 42 $4,833 $4,956 $ 4,659