3M 2004 Annual Report Download - page 29

3
3M COMPANY
FORM 10-K
For the Year Ended December 31, 2004
PART I
Item 1. Business.
3M Company, formerly known as Minnesota Mining and Manufacturing Company, was incorporated in 1929 under
the laws of the State of Delaware to continue operations begun in 1902. The Board of Directors of Minnesota Mining
and Manufacturing Company approved changing the Company’s name to “3M Company” effective April 8, 2002. The
MMM ticker symbol remained the same. As used herein, the term “3M” or “Company” includes 3M Company and its
subsidiaries unless the context indicates otherwise.
Available Information
The Company files annual reports, quarterly reports, proxy statements and other documents with the Securities and
Exchange Commission (SEC) under the Securities Exchange Act of 1934 (Exchange Act). The public may read and
copy any materials that the Company files with the SEC at the SEC’s Public Reference Room at 450 Fifth Street
N.W., Washington, D.C. 20549. The public may obtain information on the operation of the Public Reference Room by
calling the SEC at 1-800-SEC-0330. Also, the SEC maintains a website that contains reports, proxy and information
statements, and other information regarding issuers, including the Company, that file electronically with the SEC. The
public can obtain any documents that the Company files with the SEC at http://www.sec.gov.
The corporation also makes available free of charge through its website (http://investor.3M.com) the Company’s
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and, if applicable,
amendments to those reports filed or furnished pursuant to the Exchange Act as soon as reasonably practicable after
the Company electronically files such material with, or furnishes it to, the SEC.
General
3M is a diversified technology company with a global presence in the following markets: health care; industrial;
display and graphics; consumer and office; safety, security and protection services; electronics and
telecommunications; and transportation. 3M is among the leading manufacturers of products for many of the markets
it serves. Most 3M products involve expertise in product development, manufacturing and marketing, and are subject
to competition from products manufactured and sold by other technologically oriented companies.
At December 31, 2004, the Company employed 67,071 people, with 32,648 employed in the United States and
34,423 employed internationally.
Business Segments
Financial information and other disclosures relating to 3M’s business segments and operations in major geographic
areas are provided in the Notes to Consolidated Financial Statements. 3M manages its operations in seven operating
business segments: Health Care; Industrial; Display and Graphics; Consumer and Office; Safety, Security and
Protection Services; Electro and Communications; and Transportation. 3M’s seven business segments bring together
common or related 3M technologies, enhancing the development of innovative products and services and providing
for efficient sharing of business resources. These segments have worldwide responsibility for virtually all 3M product
lines. Certain small businesses and staff-sponsored products, as well as various corporate assets and expenses, are
not allocated to the business segments.
Effective January 1, 2005, as part of the continuing effort to drive growth by aligning businesses around markets and
customers, the Electronics Markets Materials Division and certain high temperature and display tapes (2004 sales of
approximately $350 million) within the Industrial Business transferred to the Electro and Communications Business,
and the converter markets product line (2004 sales of approximately $10 million) within the Transportation
Business transferred to the Display and Graphics Business. Internal management reporting for these business
segment transfers commenced January 1, 2005. Segment information for all periods presented will be reclassified in
2005 to reflect the new segment structure.
Health Care Business: The Health Care segment serves markets that include medical, surgical, pharmaceutical, dental
and orthodontic, health information systems and personal care. Products provided to these markets include medical
and surgical supplies, skin health and infection prevention products, pharmaceuticals, drug delivery systems, dental
and orthodontic products, health information systems, microbiology products, and closures for disposable diapers.