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): May 30, 2019
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3M COMPANY |
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(Exact Name of Registrant as Specified in Its Charter) |
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Delaware |
File No. 1-3285 |
41-0417775 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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3M Center, St. Paul, Minnesota |
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55144-1000 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
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(Registrant’s Telephone Number, Including Area Code) (651) 733-1110 |
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Not Applicable (Former Name or Former Address, if Changed Since Last Report) |
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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):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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Common Stock, Par Value $.01 Per Share |
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MMM |
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New York Stock Exchange, Inc. |
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MMM |
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Chicago Stock Exchange, Inc. |
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1.500% Notes due 2026 |
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MMM26 |
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New York Stock Exchange, Inc. |
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Floating Rate Notes due 2020 |
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New York Stock Exchange, Inc. |
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0.375% Notes due 2022 |
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MMM22A |
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New York Stock Exchange, Inc. |
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0.950% Notes due 2023 |
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MMM23 |
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New York Stock Exchange, Inc. |
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1.750% Notes due 2030 |
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MMM30 |
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New York Stock Exchange, Inc. |
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1.500% Notes due 2031 |
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MMM31 |
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New York Stock Exchange, Inc. |
Note: The common stock of the Registrant is also traded on the SWX Swiss Exchange.
Securities registered pursuant to section 12(g) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
This Current Report on Form 8-K includes supplemental unaudited historical business segment net sales and operating income information in addition to net sales on a disaggregated basis that reflect the realignment of 3M’s business segments effective in the second quarter of 2019 from five segments to four. The Company did not operate under this 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 ending June 30, 2019.
This Current Report includes additional detail regarding this change along with supplemental unaudited historical information relative to business segment net sales and operating income on both an annual and quarterly basis for the years ended December 31, 2018, 2017 and 2016 and on a quarterly basis for the period ended March 31, 2019 in addition to net sales on a disaggregated basis on an annual basis for the years ended December 31, 2018, 2017, and 2016 and on a quarterly basis for the periods ended March 31, 2019 and March 31, 2018 (furnished hereunder as Exhibit 99 and incorporated herein by reference).
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.
Forward-Looking Statements
This Current Report contains forward-looking information about 3M’s financial results and estimates and business prospects that involve substantial risks and uncertainties. You can identify these statements by the use of words such as “anticipate,” “estimate,” “expect,” “aim,” “project,” “intend,” “plan,” “believe,” “will,” “should,” “could,” “target,” “forecast” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans or prospects. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, capital markets and other external conditions and other factors beyond the Company’s control, including natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) the Company’s credit ratings and its cost of capital; (3) competitive conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and market acceptance of new product offerings; (6) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) operational execution, including scenarios where the Company generates fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company’s information technology infrastructure; (10) financial market risks that may affect the Company’s funding obligations under defined benefit pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2018, and any subsequent quarterly reports on Form 10-Q (the “Reports”). Changes in such assumptions or factors could produce significantly different results. A further description of these factors is located in the Reports under “Cautionary Note Concerning Factors That May Affect Future Results” and “Risk Factors” in Part I, Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part II, Item 1A (Quarterly Reports). The information contained in this Current Report is as of the date indicated. The Company assumes no obligation to update any forward-looking statements contained in this Current Report as a result of new information or future events or developments.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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Exhibit Number |
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Description |
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99 |
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2
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.
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3M COMPANY |
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By: /s/ |
Nicholas C. Gangestad |
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Nicholas C. Gangestad, |
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Senior Vice President and Chief Financial Officer |
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Dated: May 30, 2019 |
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3
EXHIBIT 99
This Current Report on Form 8-K includes supplemental unaudited historical business segment net sales and operating income information in addition to net sales on a disaggregated basis that reflect the realignment of 3M’s business segments. The Company did not operate under this 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 ending June 30, 2019. Effective in the second quarter of 2019, in an effort to enable the Company to better serve global customers and markets, the Company made the following changes to its business segments:
Realignment of the Company’s business segments from five to four
The Company realigned its former five business segments into four: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. Existing divisions were largely realigned to this new structure. In addition, certain retail auto care product lines formerly in the Automotive Aftermarket Division (now within the Safety and Industrial business segment) were moved to the Construction and Home Improvement Division (within the Consumer business segment). Also, product lines relating to the refrigeration filtration business, formerly included in the Separation and Purification Sciences Division (now within the Health Care business segment) were moved to Other Safety and Industrial (within the Safety and Industrial business segment). 3M business segment reporting measures include dual credit to business segments for certain sales and operating income. Dual credit, which is based on which business segment provides customer account activity with respect to a particular product sold in a specific country, was reduced as a result of the closer alignment between customer account activity and their respective markets. The four business segments are as follows:
Safety and Industrial: This segment includes businesses that serve the global industrial, electrical and safety markets. This business segment consists of personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules. This segment also includes the Communication Markets Division (which was substantially sold in 2018) and the refrigeration filtration product lines (within Other Safety and Industrial).
Transportation and Electronics: This segment includes businesses that serve global transportation and electronic original equipment manufacturer (OEM) customers. This business segment consists of electronics (display materials and systems, electronic materials solutions), automotive and aerospace, commercial solutions, advanced materials, and transportation safety.
Health Care: This business segment serves the global healthcare industry and includes medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems, and food safety.
Consumer: This business serves global consumers and consists of home improvement, stationery and office supplies, home care, and consumer health care. This segment also includes, within the Construction and Home Improvement Division, certain retail auto care product lines.
The financial information presented herein reflects the impact of the preceding changes for all periods presented.
Corporate and unallocated operating income includes a variety of miscellaneous items, such as corporate investment gains and losses, certain derivative gains and losses, certain insurance-related gains and losses, certain litigation and environmental expenses, corporate restructuring charges and certain under- or over-absorbed costs (e.g. pension, stock-based compensation) that the Company may choose not to allocate directly to its business segments. Corporate and Unallocated also includes sales, costs, and income from contract manufacturing, transition services and other arrangements with the acquirer of the Communication Markets Division following its divestiture in 2018. Because this category includes a variety of miscellaneous items, it is subject to fluctuation on a quarterly and annual basis.
3M business segment reporting measures include dual credit to business segments for certain sales and related operating income. Management evaluates each of its four business segments based on net sales and operating income performance, including dual credit reporting to further incentivize sales growth. As a result, 3M reflects additional (“dual”) credit to another business segment when the customer account activity (“sales district”) with respect to the particular product sold to the external customer is provided by a different business segment. This additional dual credit is largely reflected at the division level. For example, certain respirators are primarily sold by the Personal Safety Division within the Safety and Industrial business segment; however, a sales district within the Consumer business segment provides the contact for sales of the product to particular customers. In this example, the non-primary selling segment (Consumer) would also receive credit for the associated net sales initiated through its sales district and the related approximate operating income. The assigned operating income related to dual credit activity may differ from operating income that would result from actual costs associated with such sales. The offset to the dual credit business segment reporting is reflected as a reconciling item entitled “Elimination of Dual Credit,” such that sales and operating income in total are unchanged.
Supplemental Unaudited Business Segment Information
Based on Segment Structure Effective in the Second Quarter of 2019
Net Sales
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Net Sales |
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First |
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Second |
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Third |
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Fourth |
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Total |
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(Millions) |
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Quarter |
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Quarter |
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Quarter |
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Quarter |
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Year |
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Safety and Industrial |
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2019 |
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$ |
2,986 |
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2018 |
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|
3,268 |
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$ |
3,253 |
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$ |
3,021 |
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$ |
2,952 |
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$ |
12,494 |
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2017 |
|
|
2,910 |
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|
2,926 |
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|
3,024 |
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|
3,086 |
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11,946 |
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2016 |
|
|
2,825 |
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|
2,887 |
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|
2,835 |
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|
2,669 |
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|
11,216 |
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|
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Transportation and Electronics |
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|
|
|
|
|
|
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|
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|
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2019 |
|
$ |
2,357 |
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|
|
|
|
|
|
|
|
|
|
|
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|
2018 |
|
|
2,519 |
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$ |
2,527 |
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$ |
2,619 |
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$ |
2,441 |
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$ |
10,106 |
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2017 |
|
|
2,431 |
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|
2,418 |
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|
2,602 |
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|
2,410 |
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|
9,861 |
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2016 |
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|
2,244 |
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|
2,302 |
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|
2,423 |
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|
2,298 |
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|
9,267 |
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|
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|
|
|
|
|
|
|
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|
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Health Care |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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2019 |
|
$ |
1,738 |
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|
|
|
|
|
|
|
|
|
|
|
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2018 |
|
|
1,745 |
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$ |
1,730 |
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$ |
1,643 |
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$ |
1,708 |
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$ |
6,826 |
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|
2017 |
|
|
1,630 |
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|
1,642 |
|
|
1,687 |
|
|
1,676 |
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|
6,635 |
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|
2016 |
|
|
1,597 |
|
|
1,624 |
|
|
1,572 |
|
|
1,584 |
|
|
6,377 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
1,194 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
1,208 |
|
$ |
1,309 |
|
$ |
1,302 |
|
$ |
1,267 |
|
$ |
5,086 |
|
|
2017 |
|
|
1,148 |
|
|
1,245 |
|
|
1,347 |
|
|
1,266 |
|
|
5,006 |
|
|
2016 |
|
|
1,142 |
|
|
1,233 |
|
|
1,296 |
|
|
1,168 |
|
|
4,839 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Unallocated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
— |
|
$ |
12 |
|
$ |
35 |
|
$ |
3 |
|
$ |
50 |
|
|
2017 |
|
|
2 |
|
|
3 |
|
|
— |
|
|
(3) |
|
|
2 |
|
|
2016 |
|
|
— |
|
|
4 |
|
|
— |
|
|
2 |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of Dual Credit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
(434) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
(462) |
|
$ |
(441) |
|
$ |
(468) |
|
$ |
(426) |
|
$ |
(1,797) |
|
|
2017 |
|
|
(436) |
|
|
(424) |
|
|
(488) |
|
|
(445) |
|
|
(1,793) |
|
|
2016 |
|
|
(399) |
|
|
(388) |
|
|
(417) |
|
|
(392) |
|
|
(1,596) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
7,863 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
8,278 |
|
$ |
8,390 |
|
$ |
8,152 |
|
$ |
7,945 |
|
$ |
32,765 |
|
|
2017 |
|
|
7,685 |
|
|
7,810 |
|
|
8,172 |
|
|
7,990 |
|
|
31,657 |
|
|
2016 |
|
|
7,409 |
|
|
7,662 |
|
|
7,709 |
|
|
7,329 |
|
|
30,109 |
|
Supplemental Unaudited Business Segment Information
Based on Segment Structure Effective in the Second Quarter of 2019
Operating Income
|
Operating Income |
|
First |
|
Second |
|
Third |
|
Fourth |
|
Total |
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|||||
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(Millions) |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
Year |
|
|||||
|
Safety and Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
644 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
771 |
|
$ |
1,285 |
|
$ |
697 |
|
$ |
670 |
|
$ |
3,423 |
|
|
2017 |
|
|
664 |
|
|
619 |
|
|
728 |
|
|
592 |
|
|
2,603 |
|
|
2016 |
|
|
643 |
|
|
717 |
|
|
653 |
|
|
578 |
|
|
2,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation and Electronics |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
523 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
656 |
|
$ |
669 |
|
$ |
726 |
|
$ |
598 |
|
$ |
2,649 |
|
|
2017 |
|
|
569 |
|
|
1,040 |
|
|
695 |
|
|
682 |
|
|
2,986 |
|
|
2016 |
|
|
503 |
|
|
515 |
|
|
598 |
|
|
552 |
|
|
2,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
464 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
498 |
|
$ |
470 |
|
$ |
475 |
|
$ |
478 |
|
$ |
1,921 |
|
|
2017 |
|
|
463 |
|
|
433 |
|
|
500 |
|
|
481 |
|
|
1,877 |
|
|
2016 |
|
|
485 |
|
|
489 |
|
|
451 |
|
|
427 |
|
|
1,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
232 |
|
$ |
279 |
|
$ |
300 |
|
$ |
260 |
|
$ |
1,071 |
|
|
2017 |
|
|
237 |
|
|
214 |
|
|
323 |
|
|
277 |
|
|
1,051 |
|
|
2016 |
|
|
249 |
|
|
293 |
|
|
325 |
|
|
229 |
|
|
1,096 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Unallocated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
(625) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
(1,036) |
|
$ |
(200) |
|
$ |
(57) |
|
$ |
(116) |
|
$ |
(1,409) |
|
|
2017 |
|
|
(84) |
|
|
(47) |
|
|
(108) |
|
|
(128) |
|
|
(367) |
|
|
2016 |
|
|
(43) |
|
|
(104) |
|
|
(66) |
|
|
(72) |
|
|
(285) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of Dual Credit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
(103) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
(114) |
|
$ |
(102) |
|
$ |
(125) |
|
$ |
(107) |
|
$ |
(448) |
|
|
2017 |
|
|
(107) |
|
|
(106) |
|
|
(130) |
|
|
(115) |
|
|
(458) |
|
|
2016 |
|
|
(98) |
|
|
(93) |
|
|
(106) |
|
|
(98) |
|
|
(395) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 |
|
$ |
1,136 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
|
1,007 |
|
$ |
2,401 |
|
$ |
2,016 |
|
$ |
1,783 |
|
$ |
7,207 |
|
|
2017 |
|
|
1,742 |
|
|
2,153 |
|
|
2,008 |
|
|
1,789 |
|
|
7,692 |
|
|
2016 |
|
|
1,739 |
|
|
1,817 |
|
|
1,855 |
|
|
1,616 |
|
|
7,027 |
|
Supplemental Unaudited Net Sales on a Disaggregated Basis
Based on Segment Structure Effective in the Second Quarter of 2019
|
|
|
Three months ended |
|
Year ended |
|
|||||||||||
|
|
|
March 31, |
|
December 31, |
|
|||||||||||
|
Net Sales (Millions) |
|
2019 |
|
2018 |
|
2018 |
|
2017 |
|
2016 |
|
|||||
|
Abrasives |
|
$ |
369 |
|
$ |
409 |
|
$ |
1,533 |
|
$ |
1,498 |
|
$ |
1,416 |
|
|
Adhesives and Tapes |
|
|
694 |
|
|
731 |
|
|
2,880 |
|
|
2,773 |
|
|
2,632 |
|
|
Automotive Aftermarket |
|
|
310 |
|
|
349 |
|
|
1,374 |
|
|
1,388 |
|
|
1,346 |
|
|
Closure and Masking Systems |
|
|
278 |
|
|
307 |
|
|
1,224 |
|
|
1,259 |
|
|
1,262 |
|
|
Communication Markets |
|
|
— |
|
|
94 |
|
|
175 |
|
|
387 |
|
|
400 |
|
|
Electrical Markets |
|
|
311 |
|
|
309 |
|
|
1,243 |
|
|
1,196 |
|
|
1,159 |
|
|
Personal Safety |
|
|
926 |
|
|
945 |
|
|
3,606 |
|
|
2,960 |
|
|
2,553 |
|
|
Roofing Granules |
|
|
92 |
|
|
101 |
|
|
353 |
|
|
372 |
|
|
344 |
|
|
Other Safety and Industrial |
|
|
6 |
|
|
23 |
|
|
106 |
|
|
113 |
|
|
104 |
|
|
Total Safety and Industrial Business Segment |
|
$ |
2,986 |
|
$ |
3,268 |
|
$ |
12,494 |
|
$ |
11,946 |
|
$ |
11,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advanced Materials |
|
$ |
311 |
|
$ |
303 |
|
$ |
1,236 |
|
$ |
1,123 |
|
$ |
1,037 |
|
|
Automotive and Aerospace |
|
|
514 |
|
|
571 |
|
|
2,109 |
|
|
2,047 |
|
|
1,923 |
|
|
Commercial Solutions |
|
|
455 |
|
|
481 |
|
|
1,829 |
|
|
1,743 |
|
|
1,737 |
|
|
Electronics |
|
|
861 |
|
|
927 |
|
|
3,965 |
|
|
3,842 |
|
|
3,299 |
|
|
Transportation Safety |
|
|
218 |
|
|
238 |
|
|
957 |
|
|
1,103 |
|
|
1,272 |
|
|
Other Transportation and Electronics |
|
|
(2) |
|
|
(1) |
|
|
10 |
|
|
3 |
|
|
(1) |
|
|
Total Transportation and Electronics Business Segment |
|
$ |
2,357 |
|
$ |
2,519 |
|
$ |
10,106 |
|
$ |
9,861 |
|
$ |
9,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Drug Delivery |
|
$ |
92 |
|
$ |
119 |
|
$ |
444 |
|
$ |
486 |
|
$ |
451 |
|
|
Food Safety |
|
|
83 |
|
|
81 |
|
|
328 |
|
|
303 |
|
|
278 |
|
|
Health Information Systems |
|
|
260 |
|
|
205 |
|
|
837 |
|
|
791 |
|
|
780 |
|
|
Medical Solutions |
|
|
764 |
|
|
773 |
|
|
3,036 |
|
|
2,934 |
|
|
2,813 |
|
|
Oral Care |
|
|
341 |
|
|
354 |
|
|
1,353 |
|
|
1,322 |
|
|
1,277 |
|
|
Separation and Purification Sciences |
|
|
203 |
|
|
214 |
|
|
822 |
|
|
797 |
|
|
783 |
|
|
Other Health Care |
|
|
(5) |
|
|
(1) |
|
|
6 |
|
|
2 |
|
|
(5) |
|
|
Total Health Care Business Segment |
|
$ |
1,738 |
|
$ |
1,745 |
|
$ |
6,826 |
|
$ |
6,635 |
|
$ |
6,377 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Health Care |
|
$ |
98 |
|
$ |
102 |
|
$ |
391 |
|
$ |
425 |
|
$ |
381 |
|
|
Home Care |
|
|
257 |
|
|
269 |
|
|
1,012 |
|
|
1,028 |
|
|
1,006 |
|
|
Home Improvement |
|
|
535 |
|
|
522 |
|
|
2,233 |
|
|
2,118 |
|
|
1,977 |
|
|
Stationery and Office |
|
|
294 |
|
|
303 |
|
|
1,396 |
|
|
1,386 |
|
|
1,439 |
|
|
Other Consumer |
|
|
10 |
|
|
12 |
|
|
54 |
|
|
49 |
|
|
36 |
|
|
Total Consumer Business Segment |
|
$ |
1,194 |
|
$ |
1,208 |
|
$ |
5,086 |
|
$ |
5,006 |
|
$ |
4,839 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Unallocated |
|
$ |
22 |
|
$ |
— |
|
$ |
50 |
|
$ |
2 |
|
$ |
6 |
|
|
Elimination of Dual Credit |
|
|
(434) |
|
|
(462) |
|
|
(1,797) |
|
|
(1,793) |
|
|
(1,596) |
|
|
Total Company |
|
$ |
7,863 |
|
$ |
8,278 |
|
$ |
32,765 |
|
$ |
31,657 |
|
$ |
30,109 |
|
Supplemental Unaudited Net Sales on a Disaggregated Basis
Based on Segment Structure Effective in the Second Quarter of 2019 – Continued
|
|
Three months ended March 31, 2019 |
|
|||||||||||||||||
|
Net Sales (Millions) |
|
United States |
|
Asia Pacific |
|
Europe, Middle East and Africa |
|
Latin America and Canada |
|
Other Unallocated |
|
Worldwide |
|
||||||
|
Safety and Industrial |
|
$ |
1,150 |
|
$ |
768 |
|
$ |
720 |
|
$ |
348 |
|
$ |
— |
|
$ |
2,986 |
|
|
Transportation and Electronics |
|
|
561 |
|
|
1,258 |
|
|
386 |
|
|
152 |
|
|
— |
|
|
2,357 |
|
|
Health Care |
|
|
781 |
|
|
378 |
|
|
438 |
|
|
141 |
|
|
— |
|
|
1,738 |
|
|
Consumer |
|
|
687 |
|
|
270 |
|
|
137 |
|
|
100 |
|
|
— |
|
|
1,194 |
|
|
Corporate and Unallocated |
|
|
19 |
|
|
2 |
|
|
1 |
|
|
2 |
|
|
(2) |
|
|
22 |
|
|
Elimination of Dual Credit |
|
|
(152) |
|
|
(198) |
|
|
(58) |
|
|
(26) |
|
|
— |
|
|
(434) |
|
|
Total Company |
|
$ |
3,046 |
|
$ |
2,478 |
|
$ |
1,624 |
|
$ |
717 |
|
$ |
(2) |
|
$ |
7,863 |
|
|
|
Three months ended March 31, 2018 |
|
|||||||||||||||||
|
Net Sales (Millions) |
|
United States |
|
Asia Pacific |
|
Europe, Middle East and Africa |
|
Latin America and Canada |
|
Other Unallocated |
|
Worldwide |
|
||||||
|
Safety and Industrial |
|
$ |
1,216 |
|
$ |
839 |
|
$ |
833 |
|
$ |
381 |
|
$ |
(1) |
|
$ |
3,268 |
|
|
Transportation and Electronics |
|
|
569 |
|
|
1,384 |
|
|
416 |
|
|
151 |
|
|
(1) |
|
|
2,519 |
|
|
Health Care |
|
|
748 |
|
|
385 |
|
|
459 |
|
|
153 |
|
|
— |
|
|
1,745 |
|
|
Consumer |
|
|
658 |
|
|
290 |
|
|
149 |
|
|
110 |
|
|
1 |
|
|
1,208 |
|
|
Corporate and Unallocated |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
(1) |
|
|
— |
|
|
Elimination of Dual Credit |
|
|
(147) |
|
|
(223) |
|
|
(65) |
|
|
(28) |
|
|
1 |
|
|
(462) |
|
|
Total Company |
|
$ |
3,044 |
|
$ |
2,676 |
|
$ |
1,792 |
|
$ |
767 |
|
$ |
(1) |
|
$ |
8,278 |
|
|
|
Year ended December 31, 2018 |
|
|||||||||||||||||
|
Net Sales (Millions) |
|
United States |
|
Asia Pacific |
|
Europe, Middle East and Africa |
|
Latin America and Canada |
|
Other Unallocated |
|
Worldwide |
|
||||||
|
Safety and Industrial |
|
$ |
4,921 |
|
$ |
3,099 |
|
$ |
3,001 |
|
$ |
1,476 |
|
$ |
(3) |
|
$ |
12,494 |
|
|
Transportation and Electronics |
|
|
2,406 |
|
|
5,514 |
|
|
1,578 |
|
|
610 |
|
|
(2) |
|
|
10,106 |
|
|
Health Care |
|
|
3,039 |
|
|
1,458 |
|
|
1,733 |
|
|
596 |
|
|
— |
|
|
6,826 |
|
|
Consumer |
|
|
3,045 |
|
|
1,021 |
|
|
574 |
|
|
447 |
|
|
(1) |
|
|
5,086 |
|
|
Corporate and Unallocated |
|
|
48 |
|
|
— |
|
|
— |
|
|
3 |
|
|
(1) |
|
|
50 |
|
|
Elimination of Dual Credit |
|
|
(619) |
|
|
(838) |
|
|
(232) |
|
|
(108) |
|
|
— |
|
|
(1,797) |
|
|
Total Company |
|
$ |
12,840 |
|
$ |
10,254 |
|
$ |
6,654 |
|
$ |
3,024 |
|
$ |
(7) |
|
$ |
32,765 |
|
|
|
Year ended December 31, 2017 |
|
|||||||||||||||||
|
Net Sales (Millions) |
|
United States |
|
Asia Pacific |
|
Europe, Middle East and Africa |
|
Latin America and Canada |
|
Other Unallocated |
|
Worldwide |
|
||||||
|
Safety and Industrial |
|
$ |
4,605 |
|
$ |
2,981 |
|
$ |
2,869 |
|
$ |
1,497 |
|
$ |
(6) |
|
$ |
11,946 |
|
|
Transportation and Electronics |
|
|
2,372 |
|
|
5,328 |
|
|
1,550 |
|
|
615 |
|
|
(4) |
|
|
9,861 |
|
|
Health Care |
|
|
3,037 |
|
|
1,346 |
|
|
1,667 |
|
|
587 |
|
|
(2) |
|
|
6,635 |
|
|
Consumer |
|
|
2,943 |
|
|
1,029 |
|
|
585 |
|
|
450 |
|
|
(1) |
|
|
5,006 |
|
|
Corporate and Unallocated |
|
|
6 |
|
|
(1) |
|
|
1 |
|
|
(4) |
|
|
— |
|
|
2 |
|
|
Elimination of Dual Credit |
|
|
(591) |
|
|
(874) |
|
|
(216) |
|
|
(112) |
|
|
— |
|
|
(1,793) |
|
|
Total Company |
|
$ |
12,372 |
|
$ |
9,809 |
|
$ |
6,456 |
|
$ |
3,033 |
|
$ |
(13) |
|
$ |
31,657 |
|
|
|
Year ended December 31, 2016 |
|
|||||||||||||||||
|
Net Sales (Millions) |
|
United States |
|
Asia Pacific |
|
Europe, Middle East and Africa |
|
Latin America and Canada |
|
Other Unallocated |
|
Worldwide |
|
||||||
|
Safety and Industrial |
|
$ |
4,387 |
|
$ |
2,742 |
|
$ |
2,659 |
|
$ |
1,423 |
|
$ |
5 |
|
$ |
11,216 |
|
|
Transportation and Electronics |
|
|
2,469 |
|
|
4,670 |
|
|
1,499 |
|
|
626 |
|
|
3 |
|
|
9,267 |
|
|
Health Care |
|
|
2,946 |
|
|
1,251 |
|
|
1,637 |
|
|
542 |
|
|
1 |
|
|
6,377 |
|
|
Consumer |
|
|
2,922 |
|
|
921 |
|
|
572 |
|
|
423 |
|
|
1 |
|
|
4,839 |
|
|
Corporate and Unallocated |
|
|
6 |
|
|
— |
|
|
1 |
|
|
(1) |
|
|
— |
|
|
6 |
|
|
Elimination of Dual Credit |
|
|
(542) |
|
|
(737) |
|
|
(205) |
|
|
(112) |
|
|
— |
|
|
(1,596) |
|
|
Total Company |
|
$ |
12,188 |
|
$ |
8,847 |
|
$ |
6,163 |
|
$ |
2,901 |
|
$ |
10 |
|
$ |
30,109 |
|