3M 2009 Annual Report Download - page 54

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Consolidated Balance Sheet
3M Company and Subsidiaries
At December 31
(Dollars in millions, except per share amount) 2009 2008
Assets
Current assets
Cash and cash equivalents ...................................................................................
.
$ 3,040 $ 1,849
Marketable securities — current............................................................................
.
744 373
Accounts receivable — net of allowances of $109 and $85..................................
.
3,250 3,195
Inventories
Finished goods...................................................................................................
.
1,255 1,505
Work in process .................................................................................................
.
815 851
Raw materials and supplies...............................................................................
.
569 657
Total inventories ....................................................................................................
.
2,639 3,013
Other current assets ..............................................................................................
.
1,122 1,168
Total current assets ...........................................................................................
.
10,795 9,598
Marketable securities — non-current.....................................................................
.
825 352
Investments ...........................................................................................................
.
103 111
Property, plant and equipment ..............................................................................
.
19,440 18,812
Less: Accumulated depreciation............................................................................
.
(12,440) (11,926)
Property, plant and equipment — net....................................................................
.
7,000 6,886
Goodwill .................................................................................................................
.
5,832 5,753
Intangible assets — net .........................................................................................
.
1,342 1,398
Prepaid pension benefits .......................................................................................
.
78 36
Other assets ..........................................................................................................
.
1,275 1,659
Total assets........................................................................................................
.
$ 27,250 $ 25,793
Liabilities
Current liabilities
Short-term borrowings and current portion of long-term debt ...............................
.
$ 613 $ 1,552
Accounts payable ..................................................................................................
.
1,453 1,301
Accrued payroll ......................................................................................................
.
680 644
Accrued income taxes ...........................................................................................
.
252 350
Other current liabilities...........................................................................................
.
1,899 1,992
Total current liabilities ........................................................................................
.
4,897 5,839
Long-term debt ..........................................................................................................
.
5,097 5,166
Pension and postretirement benefits.........................................................................
.
2,227 2,847
Other liabilities...........................................................................................................
.
1,727 1,637
Total liabilities.....................................................................................................
.
$ 13,948 $ 15,489
Commitments and contingencies (Note 14)
Equity
3M Company shareholders’ equity
Common stock, par value $.01 per share .............................................................
.
$9
$9
Shares outstanding — 2009: 710,599,119
Shares outstanding — 2008: 693,543,287
Additional paid-in capital........................................................................................
.
3,153 3,006
Retained earnings..................................................................................................
.
23,753 22,227
Treasury stock .......................................................................................................
.
(10,397) (11,676)
Unearned compensation .......................................................................................
.
— (40)
Accumulated other comprehensive income (loss).................................................
.
(3,754) (3,646)
Total 3M Company shareholders’ equity ...........................................................
.
12,764 9,880
Noncontrolling interest ..............................................................................................
.
538 424
Total equity.........................................................................................................
.
$ 13,302 $ 10,304
Total liabilities and equity...................................................................................
.
$ 27,250 $ 25,793
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.