3M Co. (MMM)


Statement of Financial Position, Assets
Quarterly Data

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.

3M Co., Consolidated Statement of Financial Position, Assets (quarterly data)

USD $ in millions

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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
Cash and cash equivalents 2,938  2,853  3,185  2,801  3,491  3,053  2,831  2,654  2,173  2,398  2,308  1,688  1,337  1,798  1,605  2,983  1,791  1,897  1,929  2,125  1,954 
Marketable securities, current 539  380  338  385  604  1,076  586  140  141  280  358  177  176  118  153  502  1,018  626  767  884  860 
Accounts receivable, net 5,173  5,020  5,329  5,383  5,252  4,911  5,156  4,919  4,722  4,392  4,743  4,667  4,485  4,154  4,610  4,578  4,408  4,238  4,711  4,759  4,598 
Finished goods 2,221  2,120  2,125  1,979  2,025  1,915  1,962  1,863  1,764  1,629  1,672  1,676  1,699  1,655  1,745  1,765  1,713  1,723  1,850  1,898  1,846 
Work in process 1,333  1,292  1,350  1,292  1,313  1,218  1,164  1,145  1,078  1,039  1,157  1,165  1,157  1,008  1,061  1,132  1,116  1,081  1,167  1,220  1,170 
Raw materials and supplies 984  954  962  967  957  901  849  830  770  717  782  772  771  855  903  950  875  902  928  975  956 
Inventories 4,538  4,366  4,437  4,238  4,295  4,034  3,975  3,838  3,612  3,385  3,611  3,613  3,627  3,518  3,709  3,847  3,704  3,706  3,945  4,093  3,972 
Prepaids 713  741  745  713  832  937  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Other current assets 473  349  385  370  344  266  1,108  1,090  1,253  1,271  1,159  1,291  1,249  1,398  1,531  1,521  1,597  1,298  1,329  1,332  1,378 
Current assets 14,374  13,709  14,419  13,890  14,818  14,277  13,656  12,641  11,901  11,726  12,179  11,436  10,874  10,986  11,608  13,431  12,518  11,765  12,681  13,193  12,762 
Property, plant and equipment 25,124  24,873  24,765  24,758  25,174  24,914  24,659  24,292  23,946  23,499  24,142  23,793  23,564  23,098  22,940  22,851  22,473  22,841  23,095  23,447  23,241 
Accumulated depreciation (16,295) (16,135) (16,135) (16,113) (16,310) (16,048) (16,001) (15,726) (15,395) (14,983) (15,471) (15,189) (14,950) (14,583) (14,470) (14,462) (14,187) (14,352) (14,596) (14,762) (14,611)
Property, plant and equipment, net 8,829  8,738  8,630  8,645  8,864  8,866  8,658  8,566  8,551  8,516  8,671  8,604  8,614  8,515  8,470  8,389  8,286  8,489  8,499  8,685  8,630 
Operating lease right of use assets 797  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Goodwill 10,611  10,051  10,123  10,107  10,570  10,513  9,221  9,105  9,258  9,166  9,430  9,356  9,375  9,249  9,354  6,985  6,934  7,050  7,213  7,422  7,357 
Intangible assets, net 3,047  2,657  2,726  2,787  2,885  2,936  2,175  2,201  2,269  2,320  2,422  2,477  2,551  2,601  2,632  1,355  1,396  1,435  1,516  1,603  1,631 
Other assets 1,482  1,345  1,377  1,349  1,438  1,395  1,527  1,444  1,313  1,178  1,349  1,362  1,568  1,367  1,194  1,228  1,509  2,530  2,867  3,067  3,167 
Non-current assets 24,766  22,791  22,856  22,888  23,757  23,710  21,581  21,316  21,391  21,180  21,872  21,799  22,108  21,732  21,650  17,957  18,125  19,504  20,095  20,777  20,785 
Total assets 39,140  36,500  37,275  36,778  38,575  37,987  35,237  33,957  33,292  32,906  34,051  33,235  32,982  32,718  33,258  31,388  30,643  31,269  32,776  33,970  33,547 

Based on: 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).


Assets, Selected Items

Item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. 3M Co.’s current assets declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 not reaching Q3 2018 level.
Property, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. 3M Co.’s property, plant and equipment, net increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. 3M Co.’s non-current assets declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. 3M Co.’s total assets declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.

Current Assets, Selected Items

Item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. 3M Co.’s cash and cash equivalents declined from Q3 2018 to Q4 2018 but then slightly increased from Q4 2018 to Q1 2019.
Marketable securities, current Amount of investment in marketable security, classified as current. 3M Co.’s marketable securities, current increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. 3M Co.’s accounts receivable, net declined from Q3 2018 to Q4 2018 but then slightly increased from Q4 2018 to Q1 2019.
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. 3M Co.’s inventories declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.