3M 2009 Annual Report Download - page 123

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117
NOTE 19. Quarterly Data (Unaudited)
(Millions, except per-share amounts)
2009
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Year
2009
Net sales ....................................................
$ 5,089 $ 5,719 $ 6,193 $ 6,122 $ 23,123
Cost of sales...............................................
2,772 2,977 3,171 3,189 12,109
Net income attributable to 3M ....................
518 783 957 935 3,193
Earnings per share attributable to 3M
common shareholders — basic..............
0.75 1.12 1.36 1.32 4.56
Earnings per share attributable to 3M
common shareholders — diluted............
0.74 1.12 1.35 1.30 4.52
(Millions, except per-share amounts)
2008
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Year
2008
Net sales .................................................... $ 6,463 $ 6,739 $ 6,558
.$ 5,509 $ 25,269
Cost of sales............................................... 3,336 3,510 3,432 3,101 13,379
Net income attributable to 3M .................... 988 945 991 536 3,460
Earnings per share attributable to 3M
common shareholders — basic.............. 1.40 1.35 1.43 0.77 4.95
Earnings per share attributable to 3M
common shareholders — diluted............
1.38 1.33 1.41 0.77 4.89
Gross profit is calculated as net sales minus cost of sales. In 2009, restructuring charges, partially offset by a gain on
sale of real estate, decreased net income attributable to 3M by $119 million, or $0.17 per diluted share, with $45
million ($0.07 per diluted share) in the first quarter, $60 million ($0.08 per diluted share) in the second quarter and
$14 million ($0.02 per diluted share) in the third quarter. 2008 included restructuring actions, exit activities and a loss
on sale of businesses, which were partially offset by a gain on sale of real estate. In 2008, these restructuring and
other items decreased net income attributable to 3M by $194 million, or $0.28 per diluted share, with $140 million, or
$0.20 per diluted share in the fourth quarter of 2008.
.