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Supplemental Equity and Comprehensive Income Information (Tables)
6 Months Ended
Jun. 30, 2019
Consolidated Statement of Changes in Equity

Three months ended June 30, 2019

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 March 31, 2019

 

$

9,757

 

$

5,764

 

$

41,159

 

$

(29,668)

 

$

(7,552)

 

$

54

Net income

 

1,131

 

1,127

 

4

Other comprehensive income (loss), net of tax:

Cumulative translation adjustment

 

123

 

122

 

1

Defined benefit pension and post-retirement plans adjustment

 

196

 

196

 

Cash flow hedging instruments

 

(38)

 

(38)

 

Total other comprehensive income (loss), net of tax

 

281

Dividends declared

 

(830)

 

(830)

Stock-based compensation

 

57

 

57

Reacquired stock

 

(404)

 

(404)

Issuances pursuant to stock option and benefit plans

 

150

 

(94)

 

244

Balance at June 30, 2019

 

$

10,142

 

$

5,821

 

$

41,362

 

$

(29,828)

 

$

(7,272)

 

$

59

Six months ended June 30, 2019

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, 2018

 

$

9,848

 

$

5,652

 

$

40,636

 

$

(29,626)

 

$

(6,866)

 

$

52

Impact of adoption of ASU No. 2018-02 (See Note 1)

853

(853)

Impact of adoption of ASU No. 2016-02 (See Note 1)

14

14

Net income

 

2,024

 

2,018

 

6

Other comprehensive income (loss), net of tax:

Cumulative translation adjustment

 

200

 

199

 

1

Defined benefit pension and post-retirement plans adjustment

 

280

 

280

 

Cash flow hedging instruments

 

(32)

 

(32)

 

Total other comprehensive income (loss), net of tax

 

448

Dividends declared

 

(1,660)

 

(1,660)

Stock-based compensation

 

169

 

169

Reacquired stock

 

(1,070)

 

(1,070)

Issuances pursuant to stock option and benefit plans

 

369

 

(499)

 

868

Balance at June 30, 2019

 

$

10,142

 

$

5,821

 

$

41,362

 

$

(29,828)

 

$

(7,272)

 

$

59

Three months ended June 30, 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 March 31, 2018

 

$

11,039

 

$

5,505

 

$

38,453

 

$

(26,178)

 

$

(6,803)

 

$

62

Net income

 

1,862

 

1,857

 

5

Other comprehensive income (loss), net of tax:

Cumulative translation adjustment

 

(496)

 

(492)

 

(4)

Defined benefit pension and post-retirement plans adjustment

 

114

 

114

 

Cash flow hedging instruments

 

162

 

162

 

Total other comprehensive income (loss), net of tax

 

(220)

Dividends declared

 

(802)

 

(802)

Stock-based compensation

 

54

 

54

Reacquired stock

 

(1,591)

 

(1,591)

Issuances pursuant to stock option and benefit plans

 

86

 

(66)

 

152

Balance at June 30, 2018

 

$

10,428

 

$

5,559

 

$

39,442

 

$

(27,617)

 

$

(7,019)

 

$

63

Six months ended June 30, 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

 

2,468

 

2,459

 

9

Other comprehensive income (loss), net of tax:

Cumulative translation adjustment

 

(329)

 

(324)

 

(5)

Defined benefit pension and post-retirement plans adjustment

 

230

 

230

 

Cash flow hedging instruments

 

101

 

101

 

Total other comprehensive income (loss), net of tax

 

2

Dividends declared

 

(1,612)

 

(1,612)

Stock-based compensation

 

198

 

198

Reacquired stock

 

(2,563)

 

(2,563)

Issuances pursuant to stock option and benefit plans

 

313

 

(520)

 

833

Balance at June 30, 2018

 

$

10,428

 

$

5,559

 

$

39,442

 

$

(27,617)

 

$

(7,019)

 

$

63

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

Three months ended June 30, 2019

    

    

    

    

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 March 31, 2019, net of tax:

$

(2,034)

$

(5,565)

$

47

$

(7,552)

Other comprehensive income (loss), before tax:

Amounts before reclassifications

 

(40)

 

153

 

(30)

 

83

Amounts reclassified out

 

142

 

105

 

(20)

 

227

Total other comprehensive income (loss), before tax

 

102

 

258

 

(50)

 

310

Tax effect

 

20

 

(62)

 

12

 

(30)

Total other comprehensive income (loss), net of tax

 

122

 

196

 

(38)

 

280

Balance at June 30, 2019, net of tax:

$

(1,912)

$

(5,369)

$

9

$

(7,272)

Six months ended June 30, 2019

    

    

    

    

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, 2018, net of tax:

$

(2,098)

$

(4,832)

$

64

$

(6,866)

Impact of adoption of ASU No. 2018-02 (See Note 1)

(13)

(817)

(23)

(853)

Other comprehensive income (loss), before tax:

Amounts before reclassifications

 

63

 

153

 

(17)

 

199

Amounts reclassified out

 

142

 

209

 

(27)

 

324

Total other comprehensive income (loss), before tax

 

205

 

362

 

(44)

 

523

Tax effect

 

(6)

 

(82)

 

12

 

(76)

Total other comprehensive income (loss), net of tax

 

199

 

280

 

(32)

 

447

Balance at June 30, 2019, net of tax:

$

(1,912)

$

(5,369)

$

9

$

(7,272)

Three months ended June 30, 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 March 31, 2018, net of tax:

$

(1,470)

$

(5,160)

$

(173)

$

(6,803)

Other comprehensive income (loss), before tax:

Amounts before reclassifications

 

(411)

 

 

182

 

(229)

Amounts reclassified out

 

 

151

 

28

 

179

Total other comprehensive income (loss), before tax

 

(411)

 

151

 

210

 

(50)

Tax effect

 

(81)

 

(37)

 

(48)

 

(166)

Total other comprehensive income (loss), net of tax

 

(492)

 

114

 

162

 

(216)

Balance at June 30, 2018, net of tax:

$

(1,962)

$

(5,046)

$

(11)

$

(7,019)

Six months ended June 30, 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

 

(282)

 

 

100

 

(182)

Amounts reclassified out

 

 

302

 

62

 

364

Total other comprehensive income (loss), before tax

 

(282)

 

302

 

162

 

182

Tax effect

 

(42)

 

(72)

 

(61)

 

(175)

Total other comprehensive income (loss), net of tax

 

(324)

 

230

 

101

 

7

Balance at June 30, 2018, net of tax

$

(1,962)

$

(5,046)

$

(11)

$

(7,019)

Reclassifications Out of Accumulated Other Comprehensive Income

Amount Reclassified from

Details about Accumulated Other

Accumulated Other Comprehensive Income

Comprehensive Income Components

Three months ended June 30,

Six months ended June 30,

Location on Income

(Millions)

2019

    

2018

    

2019

    

2018

Statement

Cumulative translation adjustment

Deconsolidation of Venezuelan subsidiary

$

(142)

$

$

(142)

$

Other income (expense), net

Total before tax

(142)

(142)

Tax effect

Provision for income taxes

Net of tax

$

(142)

$

$

(142)

$

Defined benefit pension and postretirement plans adjustments

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

Prior service benefit

$

16

$

19

$

32

 

$

38

 

See Note 11

Net actuarial loss

(119)

(170)

(239)

(340)

See Note 11

Deconsolidation of Venezuelan subsidiary

(2)

(2)

Other income (expense), net

Total before tax

 

(105)

 

(151)

 

(209)

 

(302)

Tax effect

 

25

 

37

 

45

 

 

72

 

Provision for income taxes

Net of tax

$

(80)

$

(114)

$

(164)

$

(230)

Cash flow hedging instruments gains (losses)

Foreign currency forward/option contracts

$

21

$

(27)

$

28

 

$

(61)

 

Cost of sales

Interest rate swap contracts

 

(1)

 

(1)

 

(1)

 

 

(1)

 

Interest expense

Total before tax

 

20

 

(28)

 

27

 

(62)

Tax effect

 

(4)

 

7

 

(5)

 

 

15

 

Provision for income taxes

Net of tax

$

16

$

(21)

$

22

$

(47)

Total reclassifications for the period, net of tax

$

(206)

$

(135)

$

(284)

$

(277)