8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): April 7, 2010

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):

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

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

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

oPre-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

As described in this Current Report, during the first quarter of 2010, 3M made certain product moves between its business segments. This Current Report includes supplemental unaudited historical business segment sales and operating income information to reflect these business segment realignments on both an annual and quarterly basis for the years ended December 31, 2009, 2008 and 2007 (furnished hereunder as Exhibit 99 and incorporated herein by reference). The Company did not operate under the realigned business segment structure for any of these prior periods and will begin to report comparative results under the new structure with the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2010.

The information contained in this Current Report shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, or the Exchange Act.

Item 9.01.  Financial Statements and Exhibits

(d) Exhibits

Exhibit Number	Description
99	Supplemental unaudited historical business segment information based on segment realignments effected during the first quarter of 2010 (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 thereunto duly authorized.

3M COMPANY
By: /s/	Patrick D. Campbell
	Patrick D. Campbell,
	Senior Vice President and Chief Financial Officer

Dated: April 7, 2010

EX-99

EXHIBIT 99

As more fully described below, this Current Report on Form 8-K includes supplemental unaudited reclassified business segment net sales and operating income information (provided on an annual and quarterly basis for the years ended December 31, 2009, 2008 and 2007). This supplemental unaudited information is being provided to show reclassified historical results due to product moves between business segments. The Company did not operate under the realigned business segment structure for any of these prior periods and will begin to report comparative results under the new structure effective with the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2010.

Effective in the first quarter of 2010, 3M made certain product moves between its business segments in its continuing effort to drive growth by aligning businesses around markets and customers. There were no changes to business segments related to product moves for the Health Care segment, Consumer and Office segment, Display and Graphics segment, or Electro and Communications segment. In addition, 3M results in total did not change. The product moves between business segments are summarized as follows:

·Certain acoustic systems products in the Occupational Health and Environmental Safety Division (part of the Safety, Security and Protection Services business segment) were transferred to the Automotive Division within the Industrial and Transportation business segment. In addition, thermal acoustics systems products which were included in the Occupational Health and Environmental Safety Division as a result of 3M’s April 2008 acquisition of Aearo Holding Corp. were transferred to the Aerospace and Aircraft Maintenance Department within the Industrial and Transportation business segment. These product moves establish an acoustic center of excellence within the Industrial and Transportation business segment. The preceding product moves resulted in an increase in net sales for total year 2009 of $116 million for Industrial and Transportation, which was offset by a corresponding decrease in net sales for Safety, Security and Protection Services.

The financial information presented herein reflects the impact of the preceding business segment structure changes for all products presented. The impact of the preceding changes on previously reported 2009 business segment net sales and operating income is summarized as follows:

	NET SALES							OPERATING INCOME
Year ended Dec. 31, 2009	Previously							Previously
(Millions)	Reported		Revised		Change			Reported		Revised		Change
Industrial and Transportation	$	7,116	$	7,232	$	116		$	1,238	$	1,259	$	21
Safety, Security and Protection Services	3,180		3,064		(116		)	745		724		(21		)

3M’s businesses are organized, managed and internally grouped into segments based on differences in products, technologies and services. Effective in the first quarter of 2010, 3M continues to manage its operations in six operating business segments: Industrial and Transportation segment; Health Care segment; Consumer and Office segment; Display and Graphics segment; Safety, Security and Protection Services segment; and the Electro and Communications segment. 3M’s six business segments bring together common or related 3M technologies, enhancing the development of innovative products and services and providing for efficient sharing of business resources. These segments have worldwide responsibility for virtually all 3M product lines. 3M is not dependent on any single product or market. Transactions among reportable segments are recorded at cost. 3M is an integrated enterprise characterized by substantial intersegment cooperation, cost allocations and inventory transfers. Therefore, management does not represent that these segments, if operated independently, would report the financial information shown.

Supplemental Unaudited Business Segment Information

Based on Segment Structure Effective in the First Quarter of 2010

Net Sales

NET SALES	First			Second			Third			Fourth			Total
(Millions)	Quarter			Quarter			Quarter			Quarter			Year
Industrial and Transportation
2009	$	1,603		$	1,751		$	1,934		$	1,944		$	7,232
2008	2,196			2,218			2,114			1,766			8,294
2007	1,895			1,915			1,916			1,966			7,692
Health Care
2009	$	997		$	1,065		$	1,083		$	1,149		$	4,294
2008	1,080			1,120			1,066			1,037			4,303
2007	965			991			964			1,060			3,980
Consumer and Office
2009	$	795		$	866		$	923		$	887		$	3,471
2008	855			939			988			796			3,578
2007	835			855			924			880			3,494
Display and Graphics
2009	$	611		$	808		$	896		$	817		$	3,132
2008	875			849			857			687			3,268
2007	929			1,009			1,020			958			3,916
Safety, Security and Protection Services
2009	$	672		$	769		$	831		$	792		$	3,064
2008	807			939			885			699			3,330
2007	711			751			720			709			2,891
Electro and Communications
2009	$	480		$	551		$	617		$	628		$	2,276
2008	735			760			740			600			2,835
2007	674			704			721			706			2,805
Corporate and Unallocated
2009	$	4		$	4		$	4		$	—		$	12
2008	6			9			6			1			22
2007	28			21			19			11			79
Elimination of Dual Credit
2009	$	(73	)	$	(95	)	$	(95	)	$	(95	)	$	(358	)
2008	(91		)	(95		)	(98		)	(77		)	(361		)
2007	(100		)	(104		)	(107		)	(84		)	(395		)
Total Company
2009	$	5,089		$	5,719		$	6,193		$	6,122		$	23,123
2008	6,463			6,739			6,558			5,509			25,269
2007	5,937			6,142			6,177			6,206			24,462

Supplemental Unaudited Business Segment Information

Based on Segment Structure Effective in the First Quarter of 2010

Operating Income

Refer to Note 2 and Note 4 to the Consolidated Financial Statements in 3M’s 2009 Annual Report on Form 10-K for disclosure of items that significantly impacted 2009, 2008 and 2007 business segment reported operating income. The most significant items impacting 2009, 2008 and 2007 operating income are restructuring and other actions and the gain or loss on sale of businesses, primarily the gain on sale of the global branded pharmaceuticals business in Europe (within the Health Care segment) in 2007. Operating income presented in the table that follows includes the impact of these significant items.

Corporate and Unallocated operating income principally includes corporate investment gains and losses, certain derivative gains and losses, insurance-related gains and losses, certain litigation and environmental expenses, corporate restructuring program charges and certain under- or over-absorbed costs (e.g. pension) that the Company may choose not to allocate directly to its business segments. Because this category includes a variety of miscellaneous items, it is subject to fluctuation on a quarterly and annual basis.

OPERATING INCOME	First			Second			Third			Fourth			Total
(Millions)	Quarter			Quarter			Quarter			Quarter			Year
Industrial and Transportation
2009	$	175		$	287		$	391		$	406		$	1,259
2008	495			434			421			218			1,568
2007	436			384			401			369			1,590
Health Care
2009	$	307		$	329		$	339		$	375		$	1,350
2008	322			310			294			249			1,175
2007	1,062			280			260			282			1,884
Consumer and Office
2009	$	165		$	197		$	227		$	159		$	748
2008	170			187			223			103			683
2007	182			170			198			160			710
Display and Graphics
2009	$	60		$	183		$	206		$	141		$	590
2008	188			185			162			48			583
2007	297			351			284			234			1,166
Safety, Security and Protection Services
2009	$	124		$	181		$	227		$	192		$	724
2008	193			179			205			112			689
2007	170			129			146			128			573
Electro and Communications
2009	$	21		$	67		$	116		$	118		$	322
2008	149			153			158			80			540
2007	112			137			122			130			501
Corporate and Unallocated
2009	$	(33	)	$	(32	)	$	(7	)	$	(28	)	$	(100	)
2008	4			22			71			(38		)	59
2007	(136		)	(31		)	37			(14		)	(144		)
Elimination of Dual Credit
2009	$	(16	)	$	(21	)	$	(21	)	$	(21	)	$	(79	)
2008	(20		)	(21		)	(21		)	(17		)	(79		)
2007	(22		)	(23		)	(23		)	(19		)	(87		)
Total Company
2009	$	803		$	1,191		$	1,478		$	1,342		$	4,814
2008	1,501			1,449			1,513			755			5,218
2007	2,101			1,397			1,425			1,270			6,193

Supplemental Unaudited Business Segment Information

Based on Segment Structure Effective in the First Quarter of 2010

Reconciliation of GAAP to Non-GAAP Operating Income

In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company also discusses non-GAAP measures that exclude special items. Operating income measures that exclude special items are not in accordance with, nor are they a substitute for, GAAP measures. Special items represent significant charges or credits that are important to an understanding of the Company’s ongoing operations. The Company uses these non-GAAP measures to evaluate and manage the Company’s operations. The Company believes that discussion of results excluding special items provides a useful analysis of ongoing operating trends. The determination of special items may not be comparable to similarly titled measures used by other companies.

As discussed in 3M’s 2009 Annual Report on Form 10-K, 2009 results included net losses for special items that reduced operating income by $194 million. 2009 included restructuring actions ($209 million), which were partially offset by a gain on sale of real estate ($15 million). These net losses were recorded in the first quarter of 2009 ($67 million), second quarter of 2009 ($101 million) and third quarter of 2009 ($26 million).

As also discussed in 3M’s 2009 Annual Report on Form 10-K, 2008 results included net losses for special items that reduced operating income by $269 million. 2008 included restructuring actions ($229 million), exit activities ($58 million) and losses related to the sale of businesses ($23 million), which were partially offset by a gain on sale of real estate ($41 million). These net losses were recorded in the second quarter of 2008 ($42 million), third quarter of 2008 ($8 million) and fourth quarter of 2008 ($219 million).

As also discussed in 3M’s 2009 Annual Report on Form 10-K, 2007 results included net gains for special items that increased operating income by $681 million. 2007 included gains related to the sale of businesses ($849 million) and a gain on sale of real estate ($52 million), which were partially offset by increases in environmental liabilities ($134 million), restructuring actions ($41 million), and exit activities ($45 million). Net gains of $653 million were recorded for the first quarter of 2007, in addition to net gains of $22 million in the second quarter of 2007, net gains of $26 million in the third quarter of 2007, and net losses of $20 million in the fourth quarter of 2007.

The reconciliation provided below, which has been revised from what was previously reported to reflect the segment realignment effective in the first quarter of 2010, reconciles the non-GAAP operating income measure by business segment with the most directly comparable GAAP financial measure for the twelve months ended December 31, 2009, 2008 and 2007. The business segment changes occurred between the Industrial and Transportation segment and the Safety, Security and Protection Services segment.  There were no changes in total worldwide consolidated operating income compared to what was previously reported.

	Twelve-months ended Dec. 31, 2009
OPERATING INCOME BY	Revised				Adjusted
BUSINESS SEGMENT	Operating		Special		Non-GAAP
(Millions)	Income		items		Oper. Income
Industrial and Transportation	$	1,259	$	89	$	1,348
Health Care	1,350		20		1,370
Consumer and Office	748		13		761
Display and Graphics	590		22		612
Safety, Security and Protection Services	724		1		725
Electro and Communications	322		11		333
Corporate and Unallocated	(100)		38		(62		)
Elimination of Dual Credit	(79)		—		(79		)
Total Operating Income	$	4,814	$	194	$	5,008

	Twelve-months ended Dec. 31, 2008								Twelve-months ended Dec. 31, 2007
OPERATING INCOME BY	Revised					Adjusted			Revised						Adjusted
BUSINESS SEGMENT	Operating			Special		Non-GAAP			Operating			Special			Non-GAAP
(Millions)	Income			items		Oper. Income			Income			Items			Oper. Income
Industrial and Transportation	$	1,568		$	66	$	1,634		$	1,590		$	9		$	1,599
Health Care	1,175			60		1,235			1,884			(791		)	1,093
Consumer and Office	683			18		701			710			—			710
Display and Graphics	583			42		625			1,166			(51		)	1,115
Safety, Security and Protection Services	689			38		727			573			29			602
Electro and Communications	540			7		547			501			41			542
Corporate and Unallocated	59			38		97			(144		)	82			(62		)
Elimination of Dual Credit	(79		)	—		(79		)	(87		)	—			(87		)
Total Operating Income	$	5,218		$	269	$	5,487		$	6,193		$	(681	)	$	5,512