Microsoft Excel LibreOffice Calc

3M Co. (MMM)


Adjustments to Financial Statements

Difficulty: Advanced


Adjustments to Current Assets

3M Co., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Current assets 13,709  14,277  11,726  10,986  11,765 
Adjustments
Add: Allowances 95  103  88  91  94 
Less: Current deferred tax assets (included in Other current assets)1 —  —  —  —  444 
After Adjustment
Adjusted current assets 13,804  14,380  11,814  11,077  11,415 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

1 Current deferred tax assets (included in Other current assets). See Details »


Adjustments to Total Assets

3M Co., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total assets 36,500  37,987  32,906  32,718  31,269 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 1,000  1,069  783  901  797 
Add: Allowances 95  103  88  91  94 
Less: Current deferred tax assets (included in Other current assets)2 —  —  —  —  444 
Less: Noncurrent deferred tax assets (included in Other assets)3 365  511  422  510  889 
After Adjustment
Adjusted total assets 37,230  38,648  33,355  33,200  30,827 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See Details »

2 Current deferred tax assets (included in Other current assets). See Details »

3 Noncurrent deferred tax assets (included in Other assets). See Details »


Adjustments to Current Liabilities

3M Co., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Current liabilities 7,244  7,687  6,219  7,118  5,998 
Adjustments
Less: Current deferred tax liabilities (included in Other current liabilities)1 —  —  —  —  34 
Less: Current deferred revenue 617  513  551  518  541 
After Adjustment
Adjusted current liabilities 6,627  7,174  5,668  6,600  5,423 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

1 Current deferred tax liabilities (included in Other current liabilities). See Details »


Adjustments to Total Liabilities

3M Co., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total liabilities 26,652  26,365  22,563  20,971  18,127 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 1,000  1,069  783  901  797 
Less: Current deferred tax liabilities (included in Other current liabilities)2 —  —  —  —  34 
Less: Noncurrent deferred tax liabilities (included in Other liabilities)3 279  235  145  551  141 
Less: Deferred revenue 617  550  566  537  562 
Less: Product warranty liabilities 48  50  47  28  30 
Less: Accrued restructuring actions balances 124  88  63  — 
After Adjustment
Adjusted total liabilities 26,584  26,511  22,582  20,693  18,157 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

1 Operating lease liability (before adoption of FASB Topic 842). See Details »

2 Current deferred tax liabilities (included in Other current liabilities). See Details »

3 Noncurrent deferred tax liabilities (included in Other liabilities). See Details »


Adjustments to Stockholders’ Equity

3M Co., adjusted total 3M Company shareholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total 3M Company shareholders’ equity 9,796  11,563  10,298  11,708  13,109 
Adjustments
Less: Net deferred tax assets (liabilities)1 86  276  277  (41) 1,158 
Add: Allowances 95  103  88  91  94 
Add: Deferred revenue 617  550  566  537  562 
Add: Product warranty liabilities 48  50  47  28  30 
Add: Accrued restructuring actions balances 124  88  63  — 
Add: Noncontrolling interest 52  59  45  39  33 
After Adjustment
Adjusted total 3M Company shareholders’ equity 10,646  12,137  10,773  12,507  12,670 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

1 Net deferred tax assets (liabilities). See Details »


Adjustments to Capitalization Table

3M Co., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Short-term borrowings and current portion of long-term debt 1,211  1,853  972  2,044  106 
Long-term debt, excluding current portion 13,411  12,096  10,678  8,753  6,731 
Capital lease obligations 75  60  45  46  59 
Total reported debt 14,697  14,009  11,695  10,843  6,896 
Total 3M Company shareholders’ equity 9,796  11,563  10,298  11,708  13,109 
Total reported capital 24,493  25,572  21,993  22,551  20,005 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 1,000  1,069  783  901  797 
Adjusted total debt 15,697  15,078  12,478  11,744  7,693 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)2 86  276  277  (41) 1,158 
Add: Allowances 95  103  88  91  94 
Add: Deferred revenue 617  550  566  537  562 
Add: Product warranty liabilities 48  50  47  28  30 
Add: Accrued restructuring actions balances 124  88  63  — 
Add: Noncontrolling interest 52  59  45  39  33 
Adjusted total 3M Company shareholders’ equity 10,646  12,137  10,773  12,507  12,670 
After Adjustment
Adjusted total capital 26,343  27,215  23,251  24,251  20,363 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

1 Operating lease liability (before adoption of FASB Topic 842). See Details »

2 Net deferred tax assets (liabilities). See Details »


Adjustments to Revenues

3M Co., adjusted net sales

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Net sales 32,765  31,657  30,109  30,274  31,821 
Adjustments
Add: Increase (decrease) in deferred revenue 104  (16) 29  (25) 22 
After Adjustment
Adjusted net sales 32,869  31,641  30,138  30,249  31,843 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).


Adjustments to Reported Income

3M Co., adjusted net income attributable to 3M

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Net income attributable to 3M 5,349  4,858  5,050  4,833  4,956 
Adjustments
Add: Deferred income tax expense (benefit)1 (109) 253  (5) (23) (191)
Add: Increase (decrease) in allowances (8) 15  (3) (3) (10)
Add: Increase (decrease) in deferred revenue 104  (16) 29  (25) 22 
Add: Increase (decrease) in product warranty liabilities (2) 19  (2) (1)
Add: Increase (decrease) in accrued restructuring actions balances 36  82  (57) 63  — 
Add: Other comprehensive income (loss), net of tax 153  222  (888) (72) (2,395)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 14  48 
After Adjustment
Adjusted net income attributable to 3M 5,531  5,431  4,151  4,777  2,429 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

1 Deferred income tax expense (benefit). See Details »