Analysis of Inventory
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Inventory Disclosure
3M Co., balance sheet: inventory
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Finished goods | |||||||||||
| Work in process | |||||||||||
| Raw materials and supplies | |||||||||||
| Inventories |
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).
- Finished Goods
- There was an overall increase in finished goods inventory over the five-year period. Starting at 1,915 million USD in 2017, the value rose to 2,196 million USD by the end of 2021. A slight dip occurred in 2019, decreasing from 2,120 million USD in 2018 to 2,003 million USD, but the levels subsequently recovered and increased through 2020 and 2021.
- Work in Process
- Work in process inventory displayed some variability but a clear upward trend is evident by 2021. The amount increased from 1,218 million USD in 2017 to 1,577 million USD in 2021. There was a decrease noted in 2019 (1,194 million USD from 1,292 million USD in 2018), after which it resumed increasing.
- Raw Materials and Supplies
- This category showed relative stability from 2017 through 2020, fluctuating slightly but remaining near the 900-950 million USD range. In 2021, there was a pronounced increase to 1,212 million USD, indicating a buildup in raw materials and supplies inventory towards the end of the period.
- Total Inventories
- The total inventories followed a generally increasing trajectory, growing from 4,034 million USD in 2017 to 4,985 million USD in 2021. The trend reflects growth despite minor dips in some intermediate years, with the most significant increase occurring in 2021, consistent with rises across all subcategories, especially work in process and raw materials.