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Microsoft Excel LibreOffice Calc

3M Co. (MMM)

Income Statement

Beginner level

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

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
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
Loss on deconsolidation of Venezuelan subsidiary
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: 2020-02-06), 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).

Income statement 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 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. 3M Co.’s operating income decreased from 2017 to 2018 and from 2018 to 2019.
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 decreased from 2017 to 2018 and from 2018 to 2019.
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 increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.