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TableofContents
Thefollowingdiscussestotalyearresultsfor2015comparedto2014,andalsodiscusses2014comparedto2013,foreachbusiness
segment.
Industrial Business ( 34.1 % of consolidated sales):
 2015  2014  2013
Sales(millions) $ 10,328 $ 10,990  $ 10,657 
Saleschangeanalysis:     
Organiclocalcurrency 0.7 % 4.9 % 4.6 %
Acquisitions 0.6 —  3.6 
Translation  (7.3) (1.8)  (1.7)
Totalsaleschange (6.0)% 3.1 % 6.5 %
    
Operatingincome(millions) $ 2,263 $ 2,389  $ 2,307 
Percentchange (5.3)% 3.6 % 2.8 %
Percentofsales 21.9 % 21.7 % 21.6 %
TheIndustrialsegmentservesabroadrangeofmarkets,suchasautomotiveoriginalequipmentmanufacturer(OEM)andautomotive
aftermarket(autobodyshopsandretail),electronics,appliance,paperandprinting,packaging,foodandbeverage,andconstruction.
Industrialproductsincludetapes,awidevarietyofcoated,non-wovenandbondedabrasives,adhesives,advancedceramics,sealants,
specialtymaterials,3Mpurification(filtrationproducts),closuresystemsforpersonalhygieneproducts,acousticsystemsproducts,
andcomponentsandproductsthatareusedinthemanufacture,repairandmaintenanceofautomotive,marine,aircraftandspecialty
vehicles.3Misalsoaleadingglobalsupplierofprecisiongrindingtechnologyservingcustomersintheareaofhard-to-grind
precisionapplicationsinindustrial,automotive,aircraftandcuttingtools.3Mdevelopsandproducesadvancedtechnicalceramics
fordemandingapplicationsintheautomotive,oilandgas,solar,industrial,electronicsanddefenseindustries.
Year 2015 results:
SalesinIndustrialtotaled$10.3billion,down6.0percentinU.S.dollars.Organiclocal-currencysalesincreased0.7percent,
acquisitionsadded0.6percent,andforeigncurrencytranslationreducedsalesby7.3percent.
Onanorganiclocal-currencysalesbasis:
·Salesgrowthwasledby3Mpurification,automotiveOEM,andaerospaceandcommercialtransportation,whileboth
automotiveaftermarket,andindustrialadhesivesandtapessalesincreasedslightly.
·Salesinadvancedmaterialsdeclined,primarilyduetoweaknessintheoilandgasmarket.Salesinabrasivesystemsalso
declined.
·Geographically,salesincreased4percentinLatinAmerica/Canada,1percentinAsiaPacific,andwereflatinbothEMEA
andtheUnitedStates.
Acquisitions:
·AcquisitionsalesgrowthrelatedtothelateAugust2015acquisitionofPolypore’sSeparationsMediabusiness.
·Thisbusinessisaproviderofmicroporousmembranesandmodulesforfiltrationinthelifesciences,industrial,and
specialtysegments.Thisacquisitionenhances3M’scorefiltrationplatformandwillhelpgeneratenewgrowth
opportunitiesacrossthecompany.
Operatingincome:
·Operatingincomemarginsincreasedby0.2percentagepointsto21.9percent,helpedbythecombinationoflowerraw
materialcostsandselectivesellingpriceincreases.
·Operatingincomemarginswerenegativelyimpactedby0.4percentagepointsduetothe$42millionrestructuringcharge,
plusanadditional0.3percentagepointspenaltyduetothePolyporeSeparationsMediaacquisition.
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