3M 2006 Annual Report Download - page 109

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
NOTE 19. Quarterly Data (Unaudited)
(Millions, except per-share amounts)     
First Second Third Fourth
Quarter Quarter Quarter Quarter Year
Net sales     
2006 $5,595 $5,688 $5,858 $5,782 $22,923
2005 5,166 5,294 5,382 5,325 21,167
Cost of sales  
2006 $2,721 $2,840 $2,990 $3,162 $11,713
2005 2,549 2,602 2,635 2,622 10,408
Income Before Cumulative Effect of Accounting Change
2006 $ 899 $ 882 $ 894 $1,176 $ 3,851
2005 771 754 840 781 3,146
Net income  
2006 $ 899 $ 882 $ 894 $1,176 $ 3,851
2005 771 754 840 746 3,111
%DVLF(DUQLQJVSHUVKDUH±,QFRPH%HIRUH&XPXODWLYH(IIHFW  
2006 $ 1.19 $ 1.17 $ 1.20 $ 1.60 $ 5.15
2005 1.00 0.98 1.10 1.03 4.11
%DVLF(DUQLQJVSHUVKDUH±1HW,QFRPH  
2006 $ 1.19 $ 1.17 $ 1.20 $ 1.60 $ 5.15
2005 1.00 0.98 1.10 0.98 4.07
'LOXWHG(DUQLQJVSHUVKDUH±,QFRme Before Cumulative Effect   
2006 $ 1.17 $ 1.15 $ 1.18 $ 1.57 $ 5.06
2005 0.97 0.96 1.08 1.01 4.03
'LOXWHG(DUQLQJVSHUVKDUH±1HW,QFRPH  
2006 $ 1.17 $ 1.15 $ 1.18 $ 1.57 $ 5.06
2005 0.97 0.96 1.08 $ 0.97 3.98
Gross profit is calculated as net sales minus cost of sales. In 2006, a gain on sale, net of restructuring and other items,
increased net income by $438 million, or $0.57 per diluted share, with $354 million, or $0.47 per diluted share,
recorded in the fourth quarter of 2006. 2006 included net benefits from gains related to the sale of certain portions of
0¶VEUDQGHGSKDUPDFHXWLFDOVEXVLQHVVDQGIDYRUDEOHLQFRPHWD[DGMXVWPHQWVZKLFKZHUHSDUWLDOO\RIIVHWE\
restructuring actions, acquired in-process research and development expenses, settlement costs of a previously
disclosed antitrust class action, and environmental obligations related to the pharmaceuticals business.