3M 2015 Annual Report Download - page 32
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·Indevelopingmarkets,salesgrowthwas3percent.
Operatingincome:
·Consumeroperatingincomewas$1.0billion,up5.2percentfrom2014.
·Operatingincomemarginswere23.7percent,upfrom22.0percentin2014.
·Thecombinationofstrongorganicgrowthandproductivitycontinuedtodriveefficienciesacrossthisbusiness.
Year 2014 results:
Consumersalestotaled$4.5billion,up2.0percentinU.S.dollars.Organiclocal-currencysalesincreased3.9percent,divestitures
reducedsalesby0.1percent,andforeigncurrencytranslationreducedsalesby1.8percent.
Onanorganiclocal-currencysalesbasis:
·Salesgrowthwasledbyconstructionandhomeimprovement.3Malsopostedpositivegrowthintheconsumerhealthcare
andhomecarebusinesses.Salesinthestationeryandofficesuppliesbusinesswereflat.
·Onageographicbasis,organiclocal-currencysalesincreased6percentinAsiaPacific,4percentintheUnitedStates,3
percentinLatinAmerica/Canada,and1percentinEMEA.
·Indevelopingmarkets,salesgrowthwas6percent.
Operatingincome:
·Consumeroperatingincomewas$1.0billion,up5.3percentfrom2013.
·Operatingincomemarginswere22.0percent,upfrom21.3percentin2013.
·Thecombinationofstrongorganicgrowth,productivity,andportfolioprioritizationcontinuedtodriveefficienciesacross
thisbusiness.
PERFORMANCEBYGEOGRAPHICAREA
While3Mmanagesitsbusinessesgloballyandbelievesitsbusinesssegmentresultsarethemostrelevantmeasureofperformance,
theCompanyalsoutilizesgeographicareadataasasecondaryperformancemeasure.Exportsalesaregenerallyreportedwithinthe
geographicareawherethefinalsalesto3Mcustomersaremade.Aportionoftheproductsorcomponentssoldby3M’soperationsto
itscustomersareexportedbythesecustomerstodifferentgeographicareas.Ascustomersmovetheiroperationsfromone
geographicareatoanother,3M’sresultswillfollow.Thus,netsalesinaparticulargeographicareaarenotindicativeofend-user
consumptioninthatgeographicarea.Financialinformationrelatedto3MoperationsinvariousgeographicareasisprovidedinNote
17.
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