3M 2008 Annual Report Download - page 50

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Consolidated Balance Sheet
3M Company and Subsidiaries
At December 31
(Dollars in millions, except per share amount) 2008 2007
Assets
Current assets
Cash and cash equivalents .............................................................................. $ 1,849 $ 1,896
Marketable securities — current....................................................................... 373 579
Accounts receivable — net of allowances of $85 and $75............................... 3,195 3,362
Inventories ........................................................................................................
Finished goods.............................................................................................. 1,505 1,349
Work in process ............................................................................................ 851 880
Raw materials and supplies.......................................................................... 657 623
Total inventories ............................................................................................... 3,013 2,852
Other current assets ......................................................................................... 1,168 1,149
Total current assets ...................................................................................... 9,598 9,838
Marketable securities — non-current................................................................ 352 480
Investments ...................................................................................................... 286 298
Property, plant and equipment ......................................................................... 18,812 18,390
Less: Accumulated depreciation....................................................................... (11,926 ) (11,808 )
Property, plant and equipment — net............................................................... 6,886 6,582
Goodwill ............................................................................................................ 5,753 4,589
Intangible assets — net .................................................................................... 1,398 801
Prepaid pension and postretirement benefits................................................... 36 1,378
Other assets ..................................................................................................... 1,238 728
Total assets................................................................................................... $ 25,547 $ 24,694
Liabilities and Stockholders’ Equity
Current liabilities
Short-term borrowings and current portion of long-term debt .......................... $ 1,552 $ 901
Accounts payable ............................................................................................. 1,301 1,505
Accrued payroll ................................................................................................. 644 580
Accrued income taxes ...................................................................................... 350 543
Other current liabilities...................................................................................... 1,992 1,833
Total current liabilities ................................................................................... 5,839 5,362
Long-term debt ..................................................................................................... 5,166 4,019
Pension and postretirement benefits.................................................................... 2,847 1,348
Other liabilities...................................................................................................... 1,816 2,218
Total liabilities................................................................................................ $ 15,668 $ 12,947
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, par value $.01 per share ........................................................ 9 9
Shares outstanding — 2008: 693,543,287
Shares outstanding — 2007: 709,156,031
Additional paid-in capital................................................................................... 3,001 2,785
Retained earnings............................................................................................. 22,248 20,316
Treasury stock .................................................................................................. (11,676 ) (10,520 )
Unearned compensation .................................................................................. (57 ) (96 )
Accumulated other comprehensive income (loss)............................................ (3,646 ) (747 )
Stockholders’ equity — net ........................................................................... 9,879 11,747
Total liabilities and stockholders’ equity........................................................ $ 25,547 $ 24,694
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.