Stock Analysis on Net
Stock Analysis on Net
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3M Co. (NYSE:MMM)

Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

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3 months ended: Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 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
Net sales 8,851  8,583  8,350  7,176  8,075  8,111  7,991  8,171  7,863  7,945  8,152  8,390  8,278  7,990  8,172  7,810  7,685  7,329  7,709  7,662  7,409 
Cost of sales (4,525) (4,388) (4,303) (3,805) (4,109) (4,325) (4,188) (4,313) (4,310) (4,060) (4,159) (4,227) (4,236) (4,080) (4,045) (4,007) (3,869) (3,716) (3,847) (3,799) (3,678)
Gross profit 4,326  4,195  4,047  3,371  3,966  3,786  3,803  3,858  3,553  3,885  3,993  4,163  4,042  3,910  4,127  3,803  3,816  3,613  3,862  3,863  3,731 
Selling, general and administrative expenses (1,808) (1,890) (1,677) (1,594) (1,768) (1,940) (1,455) (1,686) (1,948) (1,682) (1,547) (1,800) (2,573) (1,742) (1,623) (1,607) (1,600) (1,598) (1,531) (1,560) (1,533)
Research, development and related expenses (524) (456) (461) (424) (537) (521) (443) (470) (477) (437) (430) (468) (486) (443) (463) (473) (471) (421) (427) (437) (450)
Gain on sale of businesses —  —  —  387  —  106  —  17  —  506  24  96  —  461  29  71  —  —  40 
Operating income 1,994  1,849  1,909  1,740  1,663  1,325  2,011  1,702  1,136  1,783  2,016  2,401  1,007  1,821  2,041  2,184  1,774  1,665  1,904  1,866  1,788 
Other income (expense), net (49) (139) (104) (111) (96) (113) (45) (256) (48) (63) (51) (51) (42) (149) (44) (42) (37) (55) (42) (31) (42)
Income before income taxes 1,945  1,710  1,805  1,629  1,567  1,212  1,966  1,446  1,088  1,720  1,965  2,350  965  1,672  1,997  2,142  1,737  1,610  1,862  1,835  1,746 
Provision for income taxes (319) (316) (387) (342) (273) (242) (378) (315) (195) (371) (419) (488) (359) (1,147) (564) (557) (411) (454) (531) (542) (468)
Income of consolidated group 1,626  1,394  1,418  1,287  1,294  970  1,588  1,131  893  1,349  1,546  1,862  606  525  1,433  1,585  1,326  1,156  1,331  1,293  1,278 
Income (loss) from unconsolidated subsidiaries, net of taxes (4) (1) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net income including noncontrolling interest 1,627  1,390  1,417  1,287  1,294  970  1,588  1,131  893  1,349  1,546  1,862  606  525  1,433  1,585  1,326  1,156  1,331  1,293  1,278 
Net (income) loss attributable to noncontrolling interest (3) (1) (4) (2) (1) (5) (4) (2) (2) (3) (5) (4) (2) (4) (2) (3) (1) (2) (2) (3)
Net income attributable to 3M 1,624  1,389  1,413  1,290  1,292  969  1,583  1,127  891  1,347  1,543  1,857  602  523  1,429  1,583  1,323  1,155  1,329  1,291  1,275 

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-04), 10-Q (filing date: 2020-10-27), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 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).

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 Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Operating income The net result for the period of deducting operating expenses from operating revenues. 3M Co.’s operating income decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.
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 Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.
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 decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.