3M 2013 Annual Report Download - page 5

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3M Technology Advancing Every Company
3M Products Enhancing Every Home
3M Innovation Improving Every Life
Financial Results
For the year, earnings per share were up 6.3 percent to $6.72.
Operating income was $6.7 billion, a 2.8 percent increase.
Operating income margins remained strong at 21.6 percent, with four of our five business
groups delivering margins above 21 percent.
Sales for the year were $31 billion. In organic local currency terms, sales increased
3.4 percent.
Latin America/Canada led the way with organic growth of 7 percent. Asia Pacific rose
4 percent, the U.S. was up 3 percent and Europe/Middle East/Africa was up 2 percent.
Currency impacts reduced worldwide sales by 1.6 percent, and acquisitions added
1.4 percent.
We returned a record $6.9 billion in cash to shareholders through dividends and share
repurchases.
Finally, free cash flow conversion was 89 percent with ROIC at 20 percent.
Overall, I am very pleased with our progress in 2013. We delivered good broad-based
performance while investing and building for long-term success. We continue to be inspired
and motivated by our vision:
3
Inge G. Thulin
Chairman of the Board, President and Chief Executive Officer
February 13, 2014