3M 2008 Annual Report Download - page 26
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20
As discussed in the preceding overview and results of operations section, the combination of restructuring actions,
gains and losses on the sale of businesses, and other special items significantly impacted 2008, 2007 and 2006
results. The following tables summarize these special items by business segment.
2008 Restructuring and Other Summary
Loss Gain on
Restructuring Exit on sale of sale of
(Millions) actions activities businesses real estate Total
Industrial and Transportation ............ $ 40 $ 26 $ — $ — $ 66
Health Care ....................................... 51 9 — — 60
Safety, Security and Protection Services 12 3 23 — 38
Consumer and Office ........................ 18 — — — 18
Display and Graphics ........................ 24 18 — — 42
Electro and Communications ............ 7 — — — 7
Corporate and Unallocated ............... 77 2 — (41 ) 38
Total operating income penalty (benefit) $ 229 $ 58 $ 23 $ (41 ) $ 269
2007 Gain on Sale, Restructuring and Other Summary
Gain on Restructuring Gain on
sale of Environmental and exit sale of
(Millions) businesses liabilities activities real estate Total
Industrial and Transportation ............ $ — $ — $ 9 $ — $ 9
Health Care:
Gain on sale of pharmaceuticals
business ..................................... (781 ) — — — (781 )
Restructuring actions and other..... — — (10 ) — (10)
Safety, Security and Protection Services — — 29 — 29
Consumer and Office ........................ — — — — —
Display and Graphics ........................ (68 ) — 17 — (51)
Electro and Communications ............ — — 41 — 41
Corporate and Unallocated ............... — 134 — (52 ) 82
Total operating income penalty (benefit) $ (849 ) $ 134 $ 86 $ (52 ) $ (681 )
2006 Gain on Sale, Restructuring and Other Summary
Gain on sale of Pharmaceuticals Overhead Business Total
pharmaceuticals restructuring reduction specific restructuring
(Millions) business actions actions actions actions Other Total
Industrial and Transportation.............
.
$ — $ — $ — $ 15 $ 15 $ — $ 15
Health Care:
Gain on sale of pharmaceuticals
business ...................................
.
(1,074 ) — — — — — (1,074 )
Restructuring actions and other....
.
— 166 112 15 293 108 401
Safety, Security and Protection
Services ........................................
.
— — — 10 10 — 10
Consumer and Office ........................
.
— — — — — — —
Display and Graphics ........................
.
— — — 31 31 — 31
Electro and Communications ............
.
— — — 54 54 — 54
Corporate and Unallocated ...............
.
— — — — — 40 40
Total operating income penalty
(benefit).........................................
.
$ (1,074 ) $ 166 $ 112 $ 125 $ 403 $ 148 $ (523 )