3M 2007 Annual Report Download - page 9

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3M COMPANY
ANNUAL REPORT ON FORM 10-K
For the Year Ended December 31, 2007
PART I
Item 1. Business.
3M Company, formerly known as Minnesota Mining and Manufacturing Company, was incorporated in 1929 under the
laws of the State of Delaware to continue operations begun in 1902. The Company’s ticker symbol is MMM. As used
herein, the term “3M” or “Company” includes 3M Company and its subsidiaries unless the context indicates otherwise. In
addition, for any references to Note 1 through Note 18, refer to the Notes to Consolidated Financial Statements in Item 8
of this document.
Available Information
The SEC maintains a website that contains reports, proxy and information statements, and other information regarding
issuers, including the Company, that file electronically with the SEC. The public can obtain any documents that the
Company files with the SEC at http://www.sec.gov. The Company files annual reports, quarterly reports, proxy
statements and other documents with the Securities and Exchange Commission (SEC) under the Securities Exchange
Act of 1934 (Exchange Act). The public may read and copy any materials that the Company files with the SEC at the
SEC’s Public Reference Room at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. The public may obtain
information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.
3M also makes available free of charge through its website (http://investor.3M.com) the Company’s Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and, if applicable, amendments to those
reports filed or furnished pursuant to the Exchange Act as soon as reasonably practicable after the Company
electronically files such material with, or furnishes it to, the SEC.
General
3M is a diversified technology company with a global presence in the following businesses: industrial and transportation;
health care; display and graphics; consumer and office; safety, security and protection services; and electro and
communications. 3M is among the leading manufacturers of products for many of the markets it serves. Most 3M
products involve expertise in product development, manufacturing and marketing, and are subject to competition from
products manufactured and sold by other technologically oriented companies.
At December 31, 2007, the Company employed 76,239 people, with 34,138 employed in the United States and
42,101 employed internationally.
Business Segments
As discussed in Note 16 to the Consolidated Financial Statements, effective in the first quarter of 2007, 3M made certain
product moves between its business segments in its continuing effort to drive growth by aligning businesses around
markets and customers. Segment information presented herein reflects the impact of these changes for all periods
presented.
3M continues to manage its operations in six operating business segments: Industrial and Transportation; Health Care;
Display and Graphics; Consumer and Office; Safety, Security and Protection Services; and Electro and Communications.
3M’s six business segments bring together common or related 3M technologies, enhancing the development of
innovative products and services and providing for efficient sharing of business resources. These segments have
worldwide responsibility for virtually all 3M product lines. Certain small businesses and lab-sponsored products, as well
as various corporate assets and expenses, are not allocated to the business segments. Financial information and other
disclosures relating to 3M’s business segments and operations in major geographic areas are provided in the Notes to
Consolidated Financial Statements.
Industrial and Transportation Business: The Industrial and Transportation Business segment serves a broad range of
markets, such as appliance, paper and packaging, food and beverage, and automotive. Industrial and Transportation
products include tapes, a wide variety of coated and nonwoven abrasives, adhesives, specialty materials, closures for
disposable diapers, and components and products that are used in the manufacture, repair, and maintenance of
automotive, marine, aircraft and specialty vehicles. The August 2005 acquisition of CUNO, Incorporated (“CUNO”) added a
comprehensive line of filtration products for the separation, clarification and purification of fluids and gases.
Major industrial products include vinyl, polyester, foil and specialty industrial tapes and adhesives; Scotch® Masking
Tape, Scotch® Filament Tape and Scotch® Packaging Tape; packaging equipment; 3M™ VHB™ Bonding Tapes;
conductive, low surface energy, hot melt, spray and structural adhesives; reclosable fasteners; label materials for durable