Statement of Financial Position, Liabilities and Stockholders' Equity

Difficulty level: Basic

The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

3M Co., Consolidated Statement of Financial Position, Liabilities and Stockholders' Equity

USD $ in millions

 
Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Short-term borrowings and current portion of long-term debt 1,683  1,085  682  1,269  613 
Accounts payable 1,799  1,762  1,643  1,662  1,453 
Accrued payroll 708  701  676  778  680 
Accrued income taxes 417  371  355  358  252 
Accrued trade payables 547  516  516  476  464 
Deferred income 521  471  389  369  316 
Derivative liabilities 103  106  49  87  94 
Dividends payable 567 
Employee benefits and withholdings 195  178  160  167  150 
Product and other claims 119  147  159  132  123 
Property and other taxes 88  87  94  196  198 
Pension and postretirement benefits 61  55  53  41  41 
Deferred income taxes 37  45  23  26  27 
Other 653  676  642  528  486 
Other current liabilities 2,891 
2,281 
2,085 
2,022 
1,899 
Current liabilities 7,498 
6,200 
5,441 
6,089 
4,897 
Long-term debt, excluding current portion 4,326  4,916  4,484  4,183  5,097 
Pension and postretirement benefits 1,794  3,086  3,972  2,013  2,227 
Long term income taxes payable 472  454  595  627  611 
Employee benefits 315  332  577  524  491 
Product and other claims 314  314  329  324  330 
Capital lease obligations 58  71  79  94  107 
Deferred income 19  29  19  18  23 
Deferred income taxes 538  167  251  198  91 
Other 268  267  69  74 
Other liabilities 1,984 
1,634 
1,857 
1,854 
1,727 
Non-current liabilities 8,104 
9,636 
10,313 
8,050 
9,051 
Total liabilities 15,602 
15,836 
15,754 
14,139 
13,948 
Common stock, par value $.01 per share
Additional paid-in capital 4,375  4,044  3,767  3,468  3,153 
Retained earnings 32,416  30,679  28,348  25,995  23,753 
Treasury stock (15,385) (12,407) (11,679) (10,266) (10,397)
Accumulated other comprehensive loss (3,913) (4,750) (5,025) (3,543) (3,754)
Total 3M Company shareholders' equity 17,502 
17,575 
15,420 
15,663 
12,764 
Noncontrolling interest 446  465  442  354  538 
Total equity 17,948 
18,040 
15,862 
16,017 
13,302 
Total liabilities and equity 33,550 
33,876 
31,616 
30,156 
27,250 
Source: 3M Co., Annual Reports
Item Description The company
Accounts payable Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). 3M Co.'s accounts payable increased from 2011 to 2012 and from 2012 to 2013.
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. 3M Co.'s current liabilities increased from 2011 to 2012 and from 2012 to 2013.
Non-current liabilities Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle. 3M Co.'s non-current liabilities declined from 2011 to 2012 and from 2012 to 2013.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. 3M Co.'s total liabilities increased from 2011 to 2012 but then declined significantly from 2012 to 2013.
Total 3M Company shareholders' equity Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). 3M Co.'s total 3M Company shareholders' equity increased from 2011 to 2012 but then slightly declined from 2012 to 2013.
Total equity Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. 3M Co.'s total equity increased from 2011 to 2012 but then slightly declined from 2012 to 2013.

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