3M Co. (MMM)

Income Statement

Difficulty: Beginner

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

3M Co., consolidated income statement

US$ in millions

	12 months ended	Dec 31, 2018		Dec 31, 2017		Dec 31, 2016		Dec 31, 2015		Dec 31, 2014
	Net sales
	Cost of sales
	Gross profit
	Selling, general and administrative expenses
	Research, development and related expenses
	Gain on sale of businesses
	Operating income
	Interest expense
	Interest income
	Pension and postretirement net periodic benefit (cost) benefit
	Other income (expense), net
	Income before income taxes
	Provision for income taxes
	Net income including noncontrolling interest
	Net income attributable to noncontrolling interest
	Net income attributable to 3M

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).

Item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	3M Co.’s net sales increased from 2016 to 2017 and from 2017 to 2018.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	3M Co.’s operating income increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
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 increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
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 declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.

	3M Co.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality