3M Co. (MMM)


Common-Size Income Statement
Quarterly Data

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3M Co., common-size consolidated income statement (quarterly data)

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3 months ended 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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Net sales 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -52.78 -54.81 -51.10 -51.02 -50.38 -51.17 -51.06 -49.50 -51.31 -50.34 -50.70 -49.90 -49.58 -49.64 -52.44 -50.27 -50.20 -50.42 -52.17 -51.68 -51.44 -51.47
Gross profit 47.22% 45.19% 48.90% 48.98% 49.62% 48.83% 48.94% 50.50% 48.69% 49.66% 49.30% 50.10% 50.42% 50.36% 47.56% 49.73% 49.80% 49.58% 47.83% 48.32% 48.56% 48.53%
Selling, general and administrative expenses -20.63 -24.77 -21.17 -18.98 -21.45 -31.08 -21.80 -19.86 -20.58 -20.82 -21.80 -19.86 -20.36 -20.69 -21.07 -19.84 -20.17 -20.64 -20.65 -19.63 -20.24 -20.84
Research, development and related expenses -5.75 -6.07 -5.50 -5.27 -5.58 -5.87 -5.54 -5.67 -6.06 -6.13 -5.74 -5.54 -5.70 -6.07 -5.93 -5.56 -5.70 -6.11 -5.65 -5.33 -5.51 -5.77
Gain on sale of businesses 0.00 0.10 0.21 0.00 6.03 0.29 1.20 0.00 5.90 0.38 0.97 0.00 0.00 0.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating income 20.83% 14.45% 22.44% 24.73% 28.62% 12.16% 22.79% 24.98% 27.96% 23.08% 22.72% 24.70% 24.35% 24.13% 20.55% 24.33% 23.94% 22.83% 21.53% 23.36% 22.82% 21.91%
Other income (expense), net -3.13 -0.61 -0.79 -0.63 -0.61 -0.51 -1.86 -0.54 -0.54 -0.48 -0.75 -0.54 -0.40 -0.57 -0.51 -0.40 -0.36 -0.36 -0.31 -0.26 -0.44 -0.36
Income before income taxes 17.70% 13.84% 21.65% 24.10% 28.01% 11.66% 20.93% 24.44% 27.43% 22.60% 21.97% 24.15% 23.95% 23.57% 20.05% 23.92% 23.58% 22.47% 21.22% 23.10% 22.38% 21.56%
Provision for income taxes -3.86 -2.48 -4.67 -5.14 -5.82 -4.34 -14.36 -6.90 -7.13 -5.35 -6.19 -6.89 -7.07 -6.32 -5.81 -7.09 -6.62 -6.62 -5.95 -6.99 -6.60 -5.91
Net income including noncontrolling interest 13.84% 11.36% 16.98% 18.96% 22.19% 7.32% 6.57% 17.54% 20.29% 17.25% 15.77% 17.27% 16.88% 17.25% 14.24% 16.83% 16.95% 15.85% 15.27% 16.11% 15.77% 15.64%
Net income attributable to noncontrolling interest -0.05 -0.03 -0.03 -0.04 -0.06 -0.05 -0.03 -0.05 -0.03 -0.04 -0.01 -0.03 -0.03 -0.04 -0.01 -0.03 -0.04 -0.03 0.00 -0.10 -0.20 -0.23
Net income attributable to 3M 13.79% 11.33% 16.95% 18.93% 22.13% 7.27% 6.55% 17.49% 20.27% 17.22% 15.76% 17.24% 16.85% 17.21% 14.22% 16.80% 16.91% 15.82% 15.27% 16.01% 15.58% 15.41%

Based on: 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-08), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-01), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-K (filing date: 2015-02-12), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-31), 10-Q (filing date: 2014-05-01).

Item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. 3M Co.’s operating income as a percentage of net sales declined from Q4 2018 to Q1 2019 but then increased from Q1 2019 to Q2 2019 not reaching Q4 2018 level.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. 3M Co.’s income before income taxes as a percentage of net sales declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.
Net income attributable to 3M The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. 3M Co.’s net income attributable to 3M as a percentage of net sales declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.