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

Cash Flow Statement

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

3M Co., consolidated cash flow statement

US$ in millions

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income including noncontrolling interest 4,582  5,363  4,869  5,058  4,841 
Depreciation and amortization 1,593  1,488  1,544  1,474  1,435 
Company pension and postretirement contributions (210) (370) (967) (383) (267)
Company pension and postretirement expense 357  410  333  251  556 
Stock-based compensation expense 278  302  324  298  276 
Gain on sale of businesses (111) (545) (586) (111) (47)
Deferred income taxes (273) (57) 107  395 
Loss on deconsolidation of Venezuelan subsidiary 162  —  —  —  — 
Excess tax benefits from stock-based compensation —  —  —  —  (154)
Accounts receivable 345  (305) (245) (313) (58)
Inventories 370  (509) (387) 57 
Accounts payable (117) 408  24  148 
Accrued income taxes, current and long-term 205  134  967  101  (744)
Changes in assets and liabilities 803  (272) 359  (7) (790)
Other, net (111) 120  257  75  175 
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities 2,488  1,076  1,371  1,604  1,579 
Net cash provided by operating activities 7,070  6,439  6,240  6,662  6,420 
Purchases of property, plant and equipment (PP&E) (1,699) (1,577) (1,373) (1,420) (1,461)
Proceeds from sale of PP&E and other assets 123  262  49  58  33 
Acquisitions, net of cash acquired (4,984) 13  (2,023) (16) (2,914)
Purchases of marketable securities and investments (1,635) (1,828) (2,152) (1,410) (652)
Proceeds from maturities and sale of marketable securities and investments 1,443  2,497  1,354  1,247  1,952 
Proceeds from sale of businesses, net of cash sold 236  846  1,065  142  123 
Other, net 72  (6) (4) 102 
Net cash (used in) provided by investing activities (6,444) 222  (3,086) (1,403) (2,817)
Change in short-term debt, net (316) (284) 578  (797) 860 
Repayment of debt, maturities greater than 90 days (2,716) (1,034) (962) (992) (800)
Proceeds from debt, maturities greater than 90 days 6,281  2,251  1,987  2,832  3,422 
Purchases of treasury stock (1,407) (4,870) (2,068) (3,753) (5,238)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans 547  485  734  804  635 
Dividends paid to shareholders (3,316) (3,193) (2,803) (2,678) (2,561)
Excess tax benefits from stock-based compensation —  —  —  —  154 
Other, net (197) (56) (121) (42) (120)
Net cash used in financing activities (1,124) (6,701) (2,655) (4,626) (3,648)
Effect of exchange rate changes on cash and cash equivalents (2) (160) 156  (33) (54)
Net increase (decrease) in cash and cash equivalents (500) (200) 655  600  (99)
Cash and cash equivalents at beginning of year 2,853  3,053  2,398  1,798  1,897 
Cash and cash equivalents at end of year 2,353  2,853  3,053  2,398  1,798 

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).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. 3M Co.’s net cash provided by operating activities increased from 2017 to 2018 and from 2018 to 2019.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. 3M Co.’s net cash (used in) provided by investing activities increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Net cash used in financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. 3M Co.’s net cash used in financing activities decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.