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Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2012
Significant Accounting Policies  
Basis of Presentation

Basis of Presentation

 

The interim consolidated financial statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair statement of the Company's consolidated financial position, results of operations and cash flows for the periods presented. These adjustments consist of normal, recurring items. The results of operations for any interim period are not necessarily indicative of results for the full year. The interim consolidated financial statements and notes are presented as permitted by the requirements for Quarterly Reports on Form 10-Q. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's consolidated financial statements and notes included in its 2011 Annual Report on Form 10-K.
Earnings Per Share

Earnings Per Share

 

The difference in the weighted average 3M shares outstanding for calculating basic and diluted earnings per share attributable to 3M common shareholders is a result of the dilution associated with the Company's stock-based compensation plans. Certain options outstanding under these stock-based compensation plans were not included in the computation of diluted earnings per share attributable to 3M common shareholders because they would not have had a dilutive effect (21.3 million average options for the three months ended June 30, 2012; 20.3 million average options for the six months ended June 30, 2012; 3.7 million average options for the three months ended June 30, 2011; and 3.6 million average options for the six months ended June 30, 2011). The computations for basic and diluted earnings per share follow:

Earnings Per Share Computations            
               
    Three months ended Six months ended
    June 30, June 30,
(Amounts in millions, except per share amounts) 2012 2011 2012 2011
Numerator:        
 Net income attributable to 3M  $ 1,167 $ 1,160 $ 2,292 $ 2,241
               
Denominator:            
 Denominator for weighted average 3M common shares             
  outstanding – basic    694.3   713.4   695.5   712.5
               
 Dilution associated with the Company’s stock-based             
  compensation plans    8.3   13.1   8.9   13.9
               
 Denominator for weighted average 3M common shares            
  outstanding – diluted    702.6   726.5   704.4   726.4
               
Earnings per share attributable to 3M common            
 shareholders – basic  $ 1.68 $ 1.63 $ 3.30 $ 3.15
Earnings per share attributable to 3M common            
 shareholders – diluted  $ 1.66 $ 1.60 $ 3.25 $ 3.09