Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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3M Co., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Net Income Including Noncontrolling Interest
- Net income demonstrated fluctuation over the five-year period, beginning at $4,869 million in 2017 and peaking at $5,929 million in 2021. The net income experienced a decline in 2019 to $4,582 million, followed by a recovery and an increase in the subsequent years, indicating resilience and growth after a temporary downturn.
- Cumulative Translation Adjustment
- This item showed considerable volatility, with values oscillating between positive and negative throughout the period. It started positively at $373 million in 2017, dropped to a negative $467 million in 2018, then reverted to positive values in 2019 and 2020, before declining again to negative $494 million in 2021. This pattern reflects the impact of foreign currency fluctuations on the financial results, with no clear directional trend.
- Defined Benefit Pension and Postretirement Plans Adjustment
- There was noticeable variability in pension-related adjustments. The figure rose sharply from $52 million in 2017 to $444 million in 2018, then declined to a negative $560 million in 2019, indicating a significant charge or adjustment. Subsequently, it recovered to positive $171 million in 2020 and surged to $1,345 million in 2021, suggesting favorable actuarial gains or changes in plan assumptions in the latter years.
- Cash Flow Hedging Instruments
- Cash flow hedging instruments adjustments fluctuated between negative and positive values without a consistent trend. Starting at negative $203 million in 2017, it reversed to $176 million in 2018, then moved through negative values again in 2019 and 2020, before returning to positive $119 million in 2021. This variability reflects changing effectiveness and valuation of hedging activities over time.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income exhibited substantial volatility. Starting with a positive $222 million in 2017, it decreased to $153 million in 2018 and sharply fell to a negative $421 million in 2019. It then rebounded strongly to $476 million in 2020 and further increased to $970 million in 2021, indicating significant swings in items classified within other comprehensive income during the period.
- Comprehensive Income Including Noncontrolling Interest
- Comprehensive income mirrored the trends observed in net income and other comprehensive income items, showing overall growth. It increased from $5,091 million in 2017 to $6,899 million in 2021. There was a notable dip in 2019 to $4,161 million, consistent with declines seen in net income and other comprehensive income for that year, followed by a robust recovery and upward trend thereafter.
- Comprehensive Income Attributable to Noncontrolling Interest
- The portion attributable to noncontrolling interest remained relatively small and negative throughout the period, ranging from negative $14 million to negative $2 million, suggesting a minor offset to the comprehensive income attributable to the company.
- Comprehensive Income Attributable to 3M
- This item closely aligns with the total comprehensive income trends, increasing from $5,077 million in 2017 to $6,892 million in 2021. The decline in 2019 to $4,150 million is evident here as well, with subsequent recovery and growth reinforcing overall favorable performance in comprehensive earnings attributable to the company.