3M 2011 Annual Report Download - page 52

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Consolidated Balance Sheet
3M Company and Subsidiaries
At December 31
(Dollars in millions, except per share amount) 2011 2010
Assets
Current assets ....................................................................................................
Cash and cash equivalents ........................................................................... $ 2,219 $ 3,377
Marketable securities — current .................................................................... 1,461 1,101
Accounts receivable — net of allowances of $108 and $98 .......................... 3,867 3,615
Inventories
Finished goods ........................................................................................... 1,536 1,476
Work in process ......................................................................................... 1,061 950
Raw materials and supplies ....................................................................... 819 729
Total inventories ............................................................................................ 3,416 3,155
Other current assets ...................................................................................... 1,277 967
Total current assets ................................................................................... 12,240 12,215
Marketable securities — non-current ............................................................. 896 540
Investments ................................................................................................... 155 146
Property, plant and equipment ...................................................................... 21,166 20,253
Less: Accumulated depreciation .................................................................... (13,500) (12,974 )
Property, plant and equipment — net ............................................................ 7,666 7,279
Goodwill ......................................................................................................... 7,047 6,820
Intangible assets — net ................................................................................. 1,916 1,820
Prepaid pension benefits ............................................................................... 40 74
Other assets .................................................................................................. 1,656 1,262
Total assets ................................................................................................ $ 31,616 $ 30,156
Liabilities
Current liabilities ................................................................................................
Short-term borrowings and current portion of long-term debt ....................... $ 682 $ 1,269
Accounts payable .......................................................................................... 1,643 1,662
Accrued payroll .............................................................................................. 676 778
Accrued income taxes ................................................................................... 355 358
Other current liabilities ................................................................................... 2,085 2,022
Total current liabilities ................................................................................ 5,441 6,089
Long-term debt .................................................................................................. 4,484 4,183
Pension and postretirement benefits ................................................................. 3,972 2,013
Other liabilities ................................................................................................... 1,857 1,854
Total liabilities ............................................................................................. $ 15,754 $ 14,139
Commitments and contingencies (Note 14)
Equity
3M Company shareholders’ equity:
Common stock, par value $.01 per share ...................................................... $ 9 $ 9
Shares outstanding — 2011: 694,970,041
Shares outstanding — 2010: 711,977,608
Additional paid-in capital ................................................................................ 3,767 3,468
Retained earnings .......................................................................................... 28,348 25,995
Treasury stock ............................................................................................... (11,679) (10,266 )
Accumulated other comprehensive income (loss) ......................................... (5,025) (3,543 )
Total 3M Company shareholders’ equity ................................................... 15,420 15,663
Noncontrolling interest ....................................................................................... 442 354
Total equity ................................................................................................. $ 15,862 $ 16,017
Total liabilities and equity ........................................................................... $ 31,616 $ 30,156
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.