3M 2007 Annual Report Download - page 47

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41
Consolidated Balance Sheet
3M Company and Subsidiaries
At December 31
(Dollars in millions, except per share amount) 2007 2006
Assets
Current assets
Cash and cash equivalents $ 1,896 $ 1,447
Marketable securities – current 579 471
Accounts receivable – net of allowances of $75 and $71 3,362 3,102
Inventories
Finished goods 1,349 1,235
Work in process 880 795
Raw materials and supplies 623 571
Total inventories 2,852 2,601
Other current assets 1,149 1,325
Total current assets 9,838 8,946
Marketable securities – non-current 480 166
Investments 298 314
Property, plant and equipment 18,390 17,017
Less: Accumulated depreciation (11,808) (11,110)
Property, plant and equipment – net 6,582 5,907
Goodwill 4,589 4,082
Intangible assets – net 801 708
Prepaid pension and postretirement benefits 1,378 395
Other assets 728 776
Total assets $24,694 $21,294
Liabilities and Stockholders’ Equity
Current liabilities
Short-term borrowings and current portion of long-term debt $ 901 $ 2,506
Accounts payable 1,505 1,402
Accrued payroll 580 520
Accrued income taxes 543 1,134
Other current liabilities 1,833 1,761
Total current liabilities 5,362 7,323
Long-term debt 4,019 1,047
Other liabilities 3,566 2,965
Total liabilities $12,947 $11,335
Commitments and contingencies (Note 13)
Stockholders’ equity
Common stock, par value $.01 per share 99
Shares outstanding – 2007: 709,156,031
Shares outstanding – 2006: 734,362,802
Additional paid-in capital 2,785 2,484
Retained earnings 20,316 17,933
Treasury stock (10,520) (8,456)
Unearned compensation (96) (138)
Accumulated other comprehensive income (loss) (747) (1,873)
Stockholders’ equity – net 11,747 9,959
Total liabilities and stockholders’ equity $24,694 $21,294
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.