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Quarterly Data (Unaudited)

12 Months Ended

Dec. 31, 2010

Quarterly Data (Unaudited)

Quarterly Data (Unaudited)

NOTE 19. Quarterly Data (Unaudited)

(Millions, except per-share amounts)
2010

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

Year
2010

Net sales

$

6,348

$

6,731

$

6,874

$

6,709

$

26,662

Cost of sales

3,238

3,435

3,583

3,575

13,831

Net income attributable to 3M

930

1,121

1,106

928

4,085

Earnings per share attributable to 3M common shareholders — basic

1.31

1.57

1.55

1.30

5.72

Earnings per share attributable to 3M common shareholders — diluted

1.29

1.54

1.53

1.28

5.63

(Millions, except per-share amounts) 2009		First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Year 2009
Net sales		$	5,089		$	5,719		$	6,193		$	6,122		$	23,123
Cost of sales		2,772			2,977			3,171			3,189			12,109
Net income attributable to 3M		518			783			957			935			3,193
Earnings per share attributable to 3M common shareholders — basic		0.75			1.12			1.36			1.32			4.56
Earnings per share attributable to 3M common shareholders — diluted		0.74			1.12			1.35			1.30			4.52

Gross profit is calculated as net sales minus cost of sales. In the first quarter of 2010, a charge resulting from the March 2010 enactment of the Patient Protection and Affordable Care Act, including modifications made in the Health Care and Education Reconciliation Act of 2010, decreased net income attributable to 3M by $84 million ($0.12 per diluted share impact on year 2010). In 2009, restructuring charges, partially offset by a gain on sale of real estate, decreased net income attributable to 3M by $119 million, or $0.17 per diluted share, with $45 million ($0.07 per diluted share) in the first quarter, $60 million ($0.08 per diluted share) in the second quarter and $14 million ($0.02 per diluted share) in the third quarter.

This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document.

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