3M 2009 Annual Report Download - page 76
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70
Components of these restructuring actions, beginning with accrued liability balances as of December 31, 2006,
include:
(Millions)
Employee-
Related
Items and
Benefits
Contract
Terminations
and Other
Asset
Impairments Total
Accrued liability balances as of Dec. 31,
2006:
Pharmaceuticals business actions .................. $ 78 $ 6 $ — $ 84
Overhead reduction actions............................. 100
—
— 100
Business-specific actions ................................ 30 8 — 38
Total accrued liability balance...................... $ 208 $ 14 $ — $ 222
Expenses (credits) incurred in 2007:
Pharmaceuticals business actions .................. $ (12) $ (4) $ — $ (16)
Overhead reduction actions............................. 2
—
— 2
Business-specific actions ................................ 13 4 35 52
2007 expense ........................................... $ 3 $ — $ 35 $ 38
Non-cash changes in 2007:
Pharmaceuticals business actions .................. $ (21) $ 4 $ — $ (17)
Overhead reduction actions............................. (5)
—
— (5)
Business-specific actions ................................ (12) (4) (35) (51)
2007 non-cash.......................................... $ (38) $ — $ (35) $ (73)
Cash payments in 2007:
Pharmaceuticals business actions .................. $ (40) $ (6) $ — $ (46)
Overhead reduction actions............................. (87)
—
— (87)
Business-specific actions ................................ (26) (8) — (34)
2007 cash payments ................................ $ (153) $ (14) $ — $ (167)
Accrued liability balances as of Dec. 31,
2007:
Pharmaceuticals business actions .................. $ 5 $ — $ — $ 5
Overhead reduction actions............................. 10
—
— 10
Business-specific actions ................................ 5
—
— 5
Total accrued liability balance .................. $ 20 $ — $ — $ 20
Cash payments in 2008:
Pharmaceuticals business actions .................. $ (5) $ — $ — $ (5)
Overhead reduction actions............................. (10)
—
— (10)
Business-specific actions ................................ (4)
—
— (4)
2008 cash payments ................................ $ (19) $ — $ — $ (19)
Accrued liability balances as of Dec. 31,
2008:
Pharmaceuticals business actions .................. $ — $ — $ — $ —
Overhead reduction actions............................. —
—
—
—
Business-specific actions ................................ 1
—
— 1
Total accrued liability balance .................. $ 1 $ — $ — $ 1
Cash payments in 2009 .................................... $(1) $— $— (1)
Accrued liability balances as of Dec. 31,
2009................................................................. $ — $ — $ — $ —
Non-cash employee-related changes in 2007 primarily relate to special termination pension and medical benefits
granted to certain U.S. eligible employees. These pension and medical benefits were reflected as a component of the
benefit obligation of the Company’s pension and medical plans as of December 31, 2007. In addition, these changes
also reflect non-cash stock option expense due to the reclassification of certain employees age 50 and older to
retiree status, resulting in a modification of their original stock option awards for accounting purposes.