3M 2008 Annual Report Download - page 70
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64
Supplemental Balance Sheet Information (continued)
(Millions) 2008 2007
Property, plant and equipment — at cost
Land ................................................................................................................................ $ 281 $ 303
Buildings and leasehold improvements........................................................................... 5,787 5,496
Machinery and equipment............................................................................................... 11,742 11,801
Construction in progress ................................................................................................. 903 684
Capital leases.................................................................................................................. 99 106
Gross property, plant and equipment.............................................................................. 18,812 18,390
Accumulated depreciation* ............................................................................................. (11,926 ) (11,808 )
Property, plant and equipment — net.......................................................................... $ 6,886 $ 6,582
*Includes accumulated depreciation for capital leases of $40 million for 2008 and $42 million for 2007.
Other assets
Deferred income taxes .................................................................................................... $ 807 $ 176
Product and other insurance receivables........................................................................ 206 318
Other ............................................................................................................................... 225 234
Total other assets ........................................................................................................ $ 1,238 $ 728
Other current liabilities
Accrued trade payables .................................................................................................. $ 428 $ 458
Deferred income.............................................................................................................. 322 323
Derivative liabilities-current ............................................................................................. 203 84
Restructuring actions....................................................................................................... 187 20
Employee benefits and withholdings............................................................................... 157 194
Product and other claims ................................................................................................ 148 120
Property and other taxes................................................................................................. 141 169
Pension and postretirement benefits............................................................................... 38 35
Deferred income taxes .................................................................................................... 19 22
Other ............................................................................................................................... 349 408
Total other current liabilities......................................................................................... $ 1,992 $ 1,833
Accounts payable (included as a separate line item in the Consolidated Balance Sheet) includes drafts payable on
demand of $98 million and $44 million as of December 31, 2008, and 2007, respectively.
Other liabilities
Long term taxes payable................................................................................................. $ 295 $ 310
Employee benefits........................................................................................................... 537 576
Minority interest in subsidiaries ....................................................................................... 424 325
Product and other claims ................................................................................................ 296 372
Capital lease obligations ................................................................................................. 58 69
Deferred income.............................................................................................................. 22 36
Deferred income taxes .................................................................................................... 21 355
Other ............................................................................................................................... 163 175
Total other liabilities..................................................................................................... $ 1,816 $ 2,218