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Supplemental Equity and Comprehensive Income Information
3 Months Ended
Mar. 31, 2018
Supplemental Equity and Comprehensive Income Information  
Supplemental Equity and Comprehensive Income Information

NOTE 7.  Supplemental Equity and Comprehensive Income Information

 

Consolidated Statement of Changes in Equity

 

Three months ended March 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3M Company Shareholders

 

 

 

 

 

 

 

 

 

Common

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

Stock and

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

Comprehensive

 

Non-

 

 

 

 

 

 

Paid-in

 

Retained

 

Treasury

 

Income

 

controlling

 

(Millions)

    

Total

    

Capital

    

Earnings

    

Stock

    

(Loss)

    

Interest

 

Balance at December 31, 2017

 

$

11,622

 

$

5,361

 

$

39,115

 

$

(25,887)

 

$

(7,026)

 

$

59

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

606

 

 

 

 

 

602

 

 

 

 

 

 

 

 

 4

 

Other comprehensive income (loss), net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative translation adjustment

 

 

167

 

 

 

 

 

 

 

 

 

 

 

168

 

 

(1)

 

Defined benefit pension and post-retirement plans adjustment

 

 

116

 

 

 

 

 

 

 

 

 

 

 

116

 

 

 —

 

Cash flow hedging instruments - unrealized gain (loss)

 

 

(61)

 

 

 

 

 

 

 

 

 

 

 

(61)

 

 

 —

 

Total other comprehensive income (loss), net of tax

 

 

222

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends declared

 

 

(810)

 

 

 

 

 

(810)

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

144

 

 

144

 

 

 

 

 

 

 

 

 

 

 

 

 

Reacquired stock

 

 

(972)

 

 

 

 

 

 

 

 

(972)

 

 

 

 

 

 

 

Issuances pursuant to stock option and benefit plans

 

 

227

 

 

 

 

 

(454)

 

 

681

 

 

 

 

 

 

 

Balance at March 31, 2018

 

$

11,039

 

$

5,505

 

$

38,453

 

$

(26,178)

 

$

(6,803)

 

$

62

 

 

Three months ended March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3M Company Shareholders

 

 

 

 

 

 

 

 

 

Common

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

Stock and

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

Comprehensive

 

Non-

 

 

 

 

 

 

Paid-in

 

Retained

 

Treasury

 

Income

 

controlling

 

(Millions)

    

Total

    

Capital

    

Earnings

    

Stock

    

(Loss)

    

Interest

 

Balance at December 31, 2016

 

$

10,343

 

$

5,070

 

$

37,907

 

$

(25,434)

 

$

(7,245)

 

$

45

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

1,326

 

 

 

 

 

1,323

 

 

 

 

 

 

 

 

 3

 

Other comprehensive income (loss), net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative translation adjustment

 

 

292

 

 

 

 

 

 

 

 

 

 

 

289

 

 

 3

 

Defined benefit pension and post-retirement plans adjustment

 

 

83

 

 

 

 

 

 

 

 

 

 

 

83

 

 

 —

 

Cash flow hedging instruments - unrealized gain (loss)

 

 

(76)

 

 

 

 

 

 

 

 

 

 

 

(76)

 

 

 —

 

Total other comprehensive income (loss), net of tax

 

 

299

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends declared

 

 

(702)

 

 

 

 

 

(702)

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

128

 

 

128

 

 

 

 

 

 

 

 

 

 

 

 

 

Reacquired stock

 

 

(678)

 

 

 

 

 

 

 

 

(678)

 

 

 

 

 

 

 

Issuances pursuant to stock option and benefit plans

 

 

324

 

 

 

 

 

(434)

 

 

758

 

 

 

 

 

 

 

Balance at March 31, 2017

 

$

11,040

 

$

5,198

 

$

38,094

 

$

(25,354)

 

$

(6,949)

 

$

51

 

 

Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component

 

Three months ended March 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

 

 

    

 

 

    

Total

 

 

 

 

 

 

Defined Benefit

 

Cash Flow

 

Accumulated

 

 

 

 

 

 

Pension and

 

Hedging

 

Other

 

 

 

Cumulative

 

Postretirement

 

Instruments,

 

Comprehensive

 

 

 

Translation

 

Plans

 

Unrealized

 

Income

 

(Millions)

 

Adjustment

 

Adjustment

 

Gain (Loss)

 

(Loss)

 

Balance at December 31, 2017, net of tax:

 

$

(1,638)

 

$

(5,276)

 

$

(112)

 

$

(7,026)

 

Other comprehensive income (loss), before tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts before reclassifications

 

 

129

 

 

 —

 

 

(82)

 

 

47

 

Amounts reclassified out

 

 

 —

 

 

151

 

 

34

 

 

185

 

Total other comprehensive income (loss), before tax

 

 

129

 

 

151

 

 

(48)

 

 

232

 

Tax effect

 

 

39

 

 

(35)

 

 

(13)

 

 

(9)

 

Total other comprehensive income (loss), net of tax

 

 

168

 

 

116

 

 

(61)

 

 

223

 

Balance at March 31, 2018, net of tax:

 

$

(1,470)

 

$

(5,160)

 

$

(173)

 

$

(6,803)

 

 

 

Three months ended March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

 

 

    

 

 

    

Total

 

 

 

 

 

 

Defined Benefit

 

Cash Flow

 

Accumulated

 

 

 

 

 

 

Pension and

 

Hedging

 

Other

 

 

 

Cumulative

 

Postretirement

 

Instruments,

 

Comprehensive

 

 

 

Translation

 

Plans

 

Unrealized

 

Income

 

(Millions)

 

Adjustment

 

Adjustment

 

Gain (Loss)

 

(Loss)

 

Balance at December 31, 2016, net of tax:

 

$

(2,008)

 

$

(5,328)

 

$

91

 

$

(7,245)

 

Other comprehensive income (loss), before tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts before reclassifications

 

 

226

 

 

 —

 

 

(101)

 

 

125

 

Amounts reclassified out

 

 

 —

 

 

119

 

 

(18)

 

 

101

 

Total other comprehensive income (loss), before tax

 

 

226

 

 

119

 

 

(119)

 

 

226

 

Tax effect

 

 

63

 

 

(36)

 

 

43

 

 

70

 

Total other comprehensive income (loss), net of tax

 

 

289

 

 

83

 

 

(76)

 

 

296

 

Balance at March 31, 2017, net of tax:

 

$

(1,719)

 

$

(5,245)

 

$

15

 

$

(6,949)

 

 

Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation does include impacts from items such as net investment hedge transactions. Reclassification adjustments are made to avoid double counting in comprehensive income items that are also recorded as part of net income.

 

Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount Reclassified from

 

 

 

Details about Accumulated Other

 

Accumulated Other Comprehensive Income

 

 

 

Comprehensive Income Components

 

Three months ended March 31,

 

Location on Income

 

(Millions)

 

2018

    

2017

 

Statement

 

Gains (losses) associated with defined benefit pension and postretirement plans amortization

 

 

 

 

 

 

 

 

 

Prior service benefit

 

 

19

 

 

22

 

See Note 11

 

Net actuarial loss

 

 

(170)

 

 

(141)

 

See Note 11

 

Total before tax

 

 

(151)

 

 

(119)

 

 

 

Tax effect

 

 

35

 

 

36

 

Provision for income taxes

 

Net of tax

 

$

(116)

 

$

(83)

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow hedging instruments gains (losses)

 

 

 

 

 

 

 

 

 

Foreign currency forward/option contracts

 

$

(34)

 

$

18

 

Cost of sales

 

Total before tax

 

 

(34)

 

 

18

 

 

 

Tax effect

 

 

 8

 

 

(6)

 

Provision for income taxes

 

Net of tax

 

$

(26)

 

$

12

 

 

 

Total reclassifications for the period, net of tax

 

$

(142)

 

$

(71)