Stock Analysis on Net

3M Co. (NYSE:MMM)

This company has been moved to the archive! The financial data has not been updated since October 25, 2022.

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Current Assets

3M Co., adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Current assets 15,403 14,982 12,971 13,709 14,277
Adjustments
Add: Allowances 189 233 161 95 103
After Adjustment
Adjusted current assets 15,592 15,215 13,132 13,804 14,380

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Adjustments to Total Assets

3M Co., adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total assets 47,072 47,344 44,659 36,500 37,987
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 1,000 1,069
Add: Allowances 189 233 161 95 103
Less: Deferred tax assets2 581 871 521 365 511
After Adjustment
Adjusted total assets 46,680 46,706 44,299 37,230 38,648

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred tax assets. See details »


Adjustments to Current Liabilities

3M Co., adjusted current liabilities

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Current liabilities 9,035 7,948 9,222 7,244 7,687
Adjustments
Less: Current deferred revenue 529 498 430 617 513
After Adjustment
Adjusted current liabilities 8,506 7,450 8,792 6,627 7,174

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Adjustments to Total Liabilities

3M Co., adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total liabilities 31,955 34,413 34,533 26,652 26,365
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 1,000 1,069
Less: Deferred tax liabilities2 458 333 301 279 235
Less: Deferred revenue 529 498 430 617 550
Less: Product warranty liabilities 51 48 50
Less: Accrued restructuring action balances 116 179 163 124 88
After Adjustment
Adjusted total liabilities 30,852 33,403 33,588 26,584 26,511

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

3M Co., adjusted total 3M Company shareholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total 3M Company shareholders’ equity 15,046 12,867 10,063 9,796 11,563
Adjustments
Less: Net deferred tax assets (liabilities)1 124 538 220 86 276
Add: Allowances 189 233 161 95 103
Add: Deferred revenue 529 498 430 617 550
Add: Product warranty liabilities 51 48 50
Add: Accrued restructuring action balances 116 179 163 124 88
Add: Noncontrolling interest 71 64 63 52 59
After Adjustment
Adjusted total equity 15,827 13,303 10,711 10,646 12,137

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

3M Co., adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Short-term borrowings and current portion of long-term debt 1,307 806 2,795 1,211 1,853
Current obligations of finance leases 7 22 21 17 13
Long-term debt, excluding current portion 16,056 17,989 17,518 13,411 12,096
Finance leases, net of current obligations 93 93 111 75 60
Total reported debt 17,463 18,910 20,445 14,714 14,022
Total 3M Company shareholders’ equity 15,046 12,867 10,063 9,796 11,563
Total reported capital 32,509 31,777 30,508 24,510 25,585
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 1,000 1,069
Add: Current operating lease liabilities2 263 256 247
Add: Noncurrent operating lease liabilities3 591 609 607
Adjusted total debt 18,317 19,775 21,299 15,714 15,091
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 124 538 220 86 276
Add: Allowances 189 233 161 95 103
Add: Deferred revenue 529 498 430 617 550
Add: Product warranty liabilities 51 48 50
Add: Accrued restructuring action balances 116 179 163 124 88
Add: Noncontrolling interest 71 64 63 52 59
Adjusted total equity 15,827 13,303 10,711 10,646 12,137
After Adjustment
Adjusted total capital 34,144 33,078 32,010 26,360 27,228

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liabilities. See details »

3 Noncurrent operating lease liabilities. See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

3M Co., adjusted net sales

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Net sales 35,355 32,184 32,136 32,765 31,657
Adjustment
Add: Increase (decrease) in deferred revenue 31 68 (187) 104 (16)
After Adjustment
Adjusted net sales 35,386 32,252 31,949 32,869 31,641

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Adjustments to Reported Income

3M Co., adjusted net income attributable to 3M

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Net income attributable to 3M 5,921 5,384 4,570 5,349 4,858
Adjustments
Add: Deferred income tax expense (benefit)1 (172) (158) (136) (109) 253
Add: Increase (decrease) in allowances (44) 72 66 (8) 15
Add: Increase (decrease) in deferred revenue 31 68 (187) 104 (16)
Add: Increase (decrease) in product warranty liabilities 3 (2) 3
Add: Increase (decrease) in accrued restructuring action balances (63) 16 39 36 82
Add: Other comprehensive income (loss), net of tax 970 476 (421) 153 222
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 7 2 11 8 14
After Adjustment
Adjusted net income including noncontrolling interest 6,650 5,860 3,945 5,531 5,431

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Deferred income tax expense (benefit). See details »