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: Liabilities and Stockholders’ Equity
Quarterly Data

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3M Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (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
Short-term borrowings and current portion of long-term debt
Accounts payable
Accrued payroll
Accrued income taxes
Operating lease liabilities, current
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Pension and postretirement benefits
Operating lease liabilities, noncurrent
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock par value, $.01 par value
Additional paid-in capital
Retained earnings
Treasury stock, at cost
Accumulated other comprehensive loss
Total 3M Company shareholders’ equity
Noncontrolling interest
Total equity
Total liabilities and equity

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).

Current liabilities
Current liabilities, as a percentage of total liabilities and equity, exhibited fluctuations over the period analyzed. Starting at 18.01% in the first quarter of 2017, the figure rose to a peak of 24.2% in mid-2018 before declining and stabilizing around the 16-20% range. The end of the period shows an increase to over 20%, indicating a moderately higher short-term obligation level relative to total financing.
Short-term borrowings and current portion of long-term debt
This component showed variability, with notable peaks in early 2018 (8.94%) and mid-2020 (7.03%), followed by declines. The latter periods show moderate values around 4%, which suggests periods of shifting short-term debt exposure possibly aligned with strategic financing or operational liquidity needs.
Accounts payable
Accounts payable as a proportion of total liabilities and equity remained relatively stable, fluctuating narrowly between roughly 4.8% and 7.2%. A slight increasing trend is observed toward the latter stages, indicating a marginally greater reliance on supplier credit or extended payment terms.
Accrued payroll and accrued income taxes
Accrued payroll percentages varied moderately without a clear trend, generally residing between 1.1% and 2.4%. Accrued income taxes were consistently low, mostly below 1%, with some minor increases observed during mid-2020, potentially reflecting tax timing variances.
Operating lease liabilities (current and noncurrent)
Operating lease liabilities were introduced in the data around 2019, with current lease liabilities averaging slightly above 0.5% and noncurrent lease liabilities around 1.3%. These relatively stable percentages indicate the leasing commitments form a minor but consistent component of the liabilities.
Other current liabilities
This category exhibited moderate fluctuations but stayed within the 6% to 8% range, with a slight upward trend toward the end of the period, suggesting incremental growth in miscellaneous short-term obligations.
Total current liabilities versus total noncurrent liabilities
There was a clear dominance of noncurrent liabilities over current liabilities throughout. Noncurrent liabilities consistently made up between 48% and 59% of total liabilities and equity, showing some contraction in later years but remaining the larger component overall. This implies a long-term debt structure with significant obligations extending beyond one year.
Long-term debt, excluding current portion
Long-term debt as a proportion of total liabilities and equity increased from approximately 32% in early 2017 to a peak exceeding 41% in 2020, followed by a gradual decline to about 30% by 2022. This suggests changes in financing strategy, potentially involving repayment or refinancing of long-term obligations.
Pension and postretirement benefits
The percentage allocated to pension and postretirement benefits showed a general declining trend, from above 11% in early 2017 to just over 5% by late 2022, indicating a reduction in these liabilities relative to the total capital structure.
Other liabilities
Other liabilities remained relatively stable initially but increased notably in the last periods analyzed, from around 5% in 2017 to over 12% by late 2022, signaling growth in other obligations, which may warrant further investigation to clarify their nature and impact.
Total liabilities
Total liabilities consistently comprised a significant majority of total liabilities and equity, generally ranging between 65% and 78%. The highest concentrations were observed near the end of 2019 and mid-2020, followed by a decline toward approximately 69% by late 2022, indicating some deleveraging or changes in the equity base affecting the leverage ratio.
Shareholders’ equity components
Common stock par value remained negligible and stable throughout. Additional paid-in capital fluctuated mildly but remained around 13% to 15%, suggesting minor changes in capital contributions. Retained earnings, though volatile, showed a downward trend from peaks above 110% to about 100% near the end of the period, potentially reflecting earnings retention policies impacted by earnings performance or dividend payouts.
Treasury stock and accumulated other comprehensive loss
Treasury stock increased in absolute terms (negative values becoming less negative), indicating ongoing repurchases or holdings of own shares, exerting a negative impact on equity. Accumulated other comprehensive loss lessened from around -21% to approximately -17%, showing some improvement in this equity component, which may reflect favorable changes in unrealized gains or losses.
Total equity and overall capital structure
Total equity saw a decline from the mid-30% range down to low 20% levels around 2019 and 2020, followed by recovery back to approximately 30% by late 2022. This pattern indicates some volatility in equity financing or valuation, with the firm maintaining a leverage structure where liabilities considerably exceed equity.