Stock Analysis on Net
Stock Analysis on Net

3M Co. (NYSE:MMM)

$22.49

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

Common-Size Balance Sheet: Assets
Quarterly Data

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3M Co., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents
Marketable securities, current
Accounts receivable, net of allowances
Finished goods
Work in process
Raw materials and supplies
Inventories
Prepaids
Other current assets
Current assets
Property, plant and equipment
Accumulated depreciation
Property, plant and equipment, net
Operating lease right of use assets
Goodwill
Intangible assets, net
Other assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets experienced fluctuations over the period. It increased from 6.53% in March 2017 to a peak of 18.17% in September 2019, followed by a sharp decline to 5.27% in December 2019. Subsequently, it stabilized around 9-10% until the end of 2021, before declining again to 5.96% in June 2022 and slightly recovering to 7.37% in September 2022.
Marketable securities, current
This category showed low and volatile percentages of total assets, fluctuating mostly between 0.4% and 1.7%, with no clear upward or downward trend. The highest level was approximately 1.77% in September 2021, with declines afterward.
Accounts receivable, net of allowances
This item maintained a relatively stable share of total assets, mostly ranging between 9.9% and 14.6%. There was a gradual decline from around 14% in 2017 to about 10% in late 2021 and early 2022, suggesting slight improvement or reduction in receivables over time.
Inventories (Finished goods, Work in process, Raw materials and supplies)
The aggregate inventories as a percentage of total assets decreased from around 11.3% in mid-2017 to a low near 8.8% in late 2020 but then showed a steady increase, reaching approximately 12.37% by mid-2022. Finished goods specifically decreased in proportion until 2020 but slightly rebounded afterward. Work in process and raw materials both exhibited upward trends in proportion after initial slight declines, indicating a buildup in inventory components.
Prepaids and Other current assets
Prepaid assets data was partial but generally declined from about 2.5% in late 2017 to near 1% by 2022. Other current assets showed volatility, with a notable drop to 0.7% in December 2017, followed by a generally low range between 0.6% and 2.1% across the periods, without a distinct trend.
Current assets
The total current assets proportion decreased from a peak near 38.75% in September 2017 to a low of 29.04% in December 2019, then partially recovered to around 34% by December 2021, and slightly decreased again to around 31-32% in mid-2022.
Property, plant and equipment (PPE) and associated net values
The gross PPE as a percentage of total assets declined from about 72% in early 2017 to the high 50s by the end of 2019, recovering slightly to close to 59% by mid-2022. Accumulated depreciation steadily increased as a negative percentage over the entire period, reducing net PPE from around 25.7% in early 2017 to about 19.9% by 2022, indicating ongoing depreciation and fixed asset aging or disposals.
Operating lease right of use assets
This item appeared only from 2019 onwards, maintaining a consistent range between approximately 1.7% and 2.3% of total assets, indicating the adoption and stable presence of lease assets on the balance sheet.
Goodwill
Goodwill as a proportion of total assets was fairly stable, fluctuating between 26% and 30% during the analyzed quarters. A slight increase was noted around late 2019, peaking above 30%, followed by a return to high 20% range in subsequent periods, denoting a relatively consistent level of acquired intangible assets.
Intangible assets, net
Intangible assets exhibited a sharp increase from around 6-7% in 2017 to over 14% in late 2019, then gradually declined to approximately 10.4% by late 2022. This could reflect revaluation or acquisition activity followed by amortization or impairment reductions over time.
Other assets
Other noncurrent assets showed a gradual increase from below 4% in early 2017 to over 8% by late 2022, indicating either asset diversification or increased recognition of miscellaneous noncurrent items.
Noncurrent assets
The total noncurrent assets as a share of total assets ranged between about 57% and 68%, with some volatility. A notable increase to nearly 71% occurred in late 2019, likely driven by intangible assets and goodwill increases, before stabilizing around the high 60% range in subsequent years.
Total assets
Total assets represent 100% consistently across all periods, serving as the baseline for relative measurement.
Summary of trends
Overall, the data reflects a shift in asset composition with a decline in cash and cash equivalents and current assets around 2019, simultaneous with increases in intangible and goodwill assets. Physical asset bases, represented by net PPE, have contracted proportionally, possibly due to depreciation and shifts in capital expenditure or asset disposals. Inventories and other long-term assets exhibit gradual growth in recent periods, suggesting inventory buildup and diversification of asset holdings. The presence of operating lease right of use assets from 2019 onward aligns with changes in accounting standards. These trends indicate evolving asset management strategies balancing current asset liquidity and long-term intangible and physical asset investments.