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Please find page 18 of the 2015 3M annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.TableofContents
businessgroupspostedpositivegrowthintheAsiaPacificregion,ledbyHealthCareandConsumer,whileElectronicsandEnergy
declined.WithinAsiaPacific,organiclocal-currencysalesdeclinedby3percentinbothJapanandChina/HongKong.
Operatingincomeinthefourthquarterof2015was20.5percentofsales,comparedto21.5percentofsalesinthefourthquarterof
2014,adecreaseof1.0percentagepoints.Restructuringchargesreducedoperatingincomemarginsby1.6percentagepoints.In
addition,higherpension/postretirementbenefitcostsreducedmargins.Theseimpactswerepartiallyoffsetbyabenefitfromthe
combinationofsellingpriceincreasesandrawmaterialcostdecreases.
Year 2015 sales and operating income results:
Salestotaled$30.3billion,adecreaseof4.9percentfrom2014.Fromabusinesssegmentperspective,organiclocal-currencysales
increased3.7percentinHealthCare,3.4percentinConsumer,2.4percentinSafetyandGraphics,and0.7percentinIndustrial,
whilesalesdeclined1.9percentinElectronicsandEnergy.Fromageographicareaperspective,2015organiclocal-currencysalesgr
ew2.1percentintheUnitedStates,1.5percentinLatinAmerica/Canada,0.9percentinAsiaPacific,and0.8percentinEMEA.For
theCompanyintotal,organiclocal-currencysalesgrew1.3percent,withhigherorganicvolumescontributing0.2percentand
sellingpriceincreasescontributing1.1percent.Acquisitionsadded0.8percenttosales,whiledivestituresreducedsalesby0.2
percent.Foreigncurrencytranslationreducedsalesby6.8percentyear-on-year.Refertothesectionsentitled“Performanceby
BusinessSegment”and“PerformancebyGeographicArea”foradditionaldetail.
Operatingincomein2015was22.9percentofsales,comparedto22.4percentofsalesin2014,anincreaseof0.5percentage
points.Theseresultsincludedabenefitfromthecombinationofsellingpriceincreasesandrawmaterialcostdecreases,partially
offsetbyhigherpension/postretirementbenefitcosts.Refertothesectionentitled“ResultsofOperations”forfurtherdiscussion.
Year 2014 sales and operating income resul t s :
Fortotalyear2014,netincomeattributableto3Mwas$4.956billion,or$7.49perdilutedshare,comparedto$4.659billion,or
$6.72perdilutedshare,in2013,anincreaseof11.5percentonaperdilutedsharebasis.Salestotaled$31.8billion,anincreaseof
3.1percentfrom2013.Fromabusinesssegmentperspective,organiclocal-currencysalesgrew5.8percentinHealthCare,5.4
percentinSafetyandGraphics,5.2percentinElectronicsandEnergy,4.9percentinIndustrial,and3.9percentinConsumer.Froma
geographicareaperspective,2014organiclocal-currencysalesgrew6.3percentinAsiaPacific,4.9percentintheUnitedStates,4.5
percentinLatinAmerica/Canada,and3.2percentinEMEA.FortheCompanyintotal,organiclocal-currencysalesgrew4.9
percent,withhigherorganicvolumescontributing3.9percentandsellingpriceincreasescontributing1.0percent.Acquisitions
added0.1percenttosales,drivenbytheTreoacquisition.Foreigncurrencytranslationreducedsalesby1.9percentyear-on-year.
Operatingincomein2014was22.4percentofsales,comparedto21.6percentofsalesin2013,anincreaseof0.8percentagepoints.
Theseresultsincludedabenefitfromthecombinationofsellingpriceincreasesandrawmaterialcostdecreases,lower
pension/postretirementbenefitcosts,andprofitleverageonorganicvolumegrowth.Thesefactorswerepartiallyoffsetbystrategic
investmentsandotherfactors.Refertothesectionentitled“ResultsofOperations”forfurtherdiscussion.
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