3M 2005 Annual Report Download - page 62

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36
Because of its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.
As described in “Management’s Report on Internal Control Over Financial Reporting” in the accompanying index,
management has excluded CUNO from its assessment of internal control over financial reporting as of December
31, 2005, because it was acquired by the Company in a purchase business combination during 2005. We have
also excluded CUNO from our audit of internal control over financial reporting. CUNO is a wholly-owned
subsidiary of the Company whose total assets and total net sales represented less than 10% and less than 1%,
respectively, of the related consolidated financial statement amounts as of and for the year ended December 31,
2005.
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Minneapolis, Minnesota
February 13, 2006