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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Consolidated Statement of Income        
Net sales $ 8,172 $ 7,709 $ 23,667 $ 22,780
Operating expenses        
Cost of sales 4,045 3,847 11,921 11,324
Selling, general and administrative expenses 1,623 1,531 4,830 4,624
Research, development and related expenses 463 427 1,407 1,314
Gain on sale of businesses     (490) (40)
Total operating expenses 6,131 5,805 17,668 17,222
Operating income 2,041 1,904 5,999 5,558
Interest expense and income        
Interest expense 57 50 156 135
Interest income (13) (8) (33) (20)
Total interest expense - net 44 42 123 115
Income before income taxes 1,997 1,862 5,876 5,443
Provision for income taxes 564 531 1,532 1,541
Net income including noncontrolling interest 1,433 1,331 4,344 3,902
Less: Net income attributable to noncontrolling interest 4 2 9 7
Net income attributable to 3M $ 1,429 $ 1,329 $ 4,335 $ 3,895
Weighted average 3M common shares outstanding - basic (in shares) 597.6 604.4 597.9 606.2
Earnings per share attributable to 3M common shareholders - basic (in dollars per share) $ 2.39 $ 2.20 $ 7.25 $ 6.43
Weighted average 3M common shares outstanding - diluted (in shares) 612.7 618.8 612.5 620.3
Earnings per share attributable to 3M common shareholders - diluted (in dollars per share) $ 2.33 $ 2.15 $ 7.08 $ 6.28
Cash dividends paid per 3M common share (in dollars per share) $ 1.175 $ 1.11 $ 3.525 $ 3.33