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59
NOTE 2. Acquisitions and Divestitures
3M makes acquisitions of certain businesses from time to time that the Company feels align with its strategic intent with
respect to, among other factors, growth markets and adjacent product lines or technologies.
There were no acquisitions that closed during 2013. The impact on the consolidated balance sheet of the purchase price
allocations related to 2012 and 2011 acquisitions, including adjustments relative to other acquisitions within the allocation
period, follows. Adjustments in 2013 to the preliminary purchase price allocations of other acquisitions within the allocation
period were not material and primarily related to the 2012 acquisition of Ceradyne, Inc. Adjustments in 2012 to the
preliminary purchase price allocations of other acquisitions within the allocation period were not material and primarily
related to the 2011 acquisitions of Winterthur Technologie AG and the business acquired from GPI Group.
2012 Acquisition Activity
(Millions)
Other
Total Asset (Liability) Ceradyne, Inc. Acquisitions
Accounts receivable $
55 $
29 $
84
Inventory 112 13 125
Other current assets 36 1 37
Marketable securities 250 ― 250
Property, plant, and equipment 238 3 241
Purchased finite-lived intangible assets 127 86 213
Purchased indefinite-lived intangible assets ― 2 2
Purchased goodwill 198 141 339
Accounts payable and other liabilities, net of other assets (100) (27) (127)
Interest bearing debt (93) (3) (96)
Deferred tax asset/(liability) (25) 3 (22)
Net assets acquired $
798 $
248 $
1,046
Supplemental information:
Cash paid $
850 $
248 $
1,098
Less: Cash acquired 52 ― 52
Cash paid, net of cash acquired $
798 $
248 $
1,046
2011 Acquisitions Activity
(Millions)
Winterthur
Other
Total Asset (Liability) Technologie AG
Acquisitions
Accounts receivable $
45 $
61 $
106
Inventory 69 59 128
Other current assets 6 36 42
Property, plant, and equipment 73 102 175
Purchased finite-lived intangible assets 226 116 342
Purchased goodwill 147 112 259
Accounts payable and other liabilities, net of other assets (70) (78) (148)
Interest bearing debt (79) (24) (103)
Deferred tax asset/(liability) (58) (28) (86)
Net assets acquired $
359 $
356 $
715
Noncontrolling interest (56) ― (56)
Net assets acquired excluding noncontrolling interest $
303 $
356 $
659
Supplemental information:
Cash paid $
327 $
376 $
703
Less: Cash acquired 34 20 54
Cash paid, net of cash acquired $
293 $
356 $
649
Non-cash 10 ― 10
Net assets acquired excluding noncontrolling interest $
303 $
356 $
659