Name: 3M Co. (NYSE:MMM) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

3M Co., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	4,564)	4,634)	2,353)	2,853)	3,053)
Marketable securities, current	201)	404)	98)	380)	1,076)
Accounts receivable, net of allowances	4,660)	4,705)	4,791)	5,020)	4,911)
Inventories	4,985)	4,239)	4,134)	4,366)	4,034)
Prepaids	654)	675)	704)	741)	937)
Derivative assets, current	78)	34)	75)	88)	37)
Held-to-maturity debt security held in trust	—)	—)	470)	—)	—)
Insurance related (receivables, prepaid expenses and other)	110)	125)	172)	103)	71)
Other	151)	166)	174)	158)	158)
Other current assets	339)	325)	891)	349)	266)
Current assets	15,403)	14,982)	12,971)	13,709)	14,277)
Property, plant and equipment, net	9,429)	9,421)	9,333)	8,738)	8,866)
Operating lease right of use assets	858)	864)	858)	—)	—)
Goodwill	13,486)	13,802)	13,444)	10,051)	10,513)
Intangible assets, net	5,288)	5,835)	6,379)	2,657)	2,936)
Deferred income taxes	581)	871)	521)	365)	511)
Prepaid pension and post retirement	943)	630)	230)	208)	237)
Insurance related receivables and other	51)	49)	67)	68)	63)
Cash surrender value of life insurance policies	261)	258)	254)	251)	241)
Equity method investments	129)	134)	70)	70)	70)
Equity and other investments	133)	80)	126)	118)	80)
Other	510)	418)	406)	265)	193)
Other assets	2,608)	2,440)	1,674)	1,345)	1,395)
Noncurrent assets	31,669)	32,362)	31,688)	22,791)	23,710)
Total assets	47,072)	47,344)	44,659)	36,500)	37,987)

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).

Total assets exhibited a general upward trajectory over the five-year period, increasing from US$ 37,987 million in 2017 to US$ 47,072 million by 2021. This growth was characterized by a significant expansion starting in 2019, where total assets grew by approximately 22% in a single year, remaining elevated through 2021.

Current Asset Composition and Liquidity: Current assets rose from US$ 14,277 million in 2017 to US$ 15,403 million in 2021. A notable shift in liquidity management is observed; cash and cash equivalents decreased to a low of US$ 2,353 million in 2019 before surging to US$ 4,564 million in 2021. Conversely, current marketable securities saw a sharp decline from US$ 1,076 million in 2017 to US$ 201 million in 2021, indicating a preference for direct cash holdings over short-term securities in later years.; Inventory levels showed a steady increase, growing from US$ 4,034 million in 2017 to US$ 4,985 million in 2021, while accounts receivable remained relatively stable, fluctuating within a narrow range between US$ 4,660 million and US$ 5,020 million.
Noncurrent Asset Expansion: The most substantial growth occurred within noncurrent assets, which climbed from US$ 23,710 million in 2017 to US$ 31,669 million in 2021. This increase was driven primarily by a spike in 2019, where goodwill rose to US$ 13,444 million and net intangible assets more than doubled from US$ 2,657 million in 2018 to US$ 6,379 million in 2019. These patterns suggest a major acquisition or strategic business combination during that fiscal year.; Property, plant, and equipment (net) maintained a gradual upward trend, increasing from US$ 8,866 million in 2017 to US$ 9,429 million in 2021, reflecting consistent capital investment in physical infrastructure.; Other noncurrent assets, specifically prepaid pension and post-retirement assets, showed significant growth in the final two years, rising to US$ 943 million in 2021 from US$ 237 million in 2017.

The overall structural shift in the balance sheet indicates a transition toward a more asset-heavy profile, predominantly driven by intangible assets and goodwill. The increase in cash reserves during 2020 and 2021, coupled with the growth in inventory, suggests a strategic move toward increasing liquidity and operational buffers.

AI Ask an analyst for more

My previous chats

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?