3M 2010 Annual Report Download - page 16

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future results will be affected by the Company’s ability to integrate acquired businesses quickly and obtain the
anticipated synergies.
* The Company’s future results may be affected if the Company generates fewer productivity improvements than
estimated. The Company utilizes various tools, such as Lean Six Sigma, to improve operational efficiency and
productivity. There can be no assurance that all of the projected productivity improvements will be realized.
* The Company’s future results may be affected by various legal and regulatory proceedings and legal compliance
risks, including those involving product liability, antitrust, environmental, the U.S. Foreign Corrupt Practices Act and
other anti-bribery, anti-corruption, or other matters. The outcome of these legal proceedings may differ from the
Company’s expectations because the outcomes of litigation, including regulatory matters, are often difficult to reliably
predict. Various factors or developments can lead the Company to change current estimates of liabilities and related
insurance receivables where applicable, or make such estimates for matters previously not susceptible of reasonable
estimates, such as a significant judicial ruling or judgment, a significant settlement, significant regulatory
developments or changes in applicable law. A future adverse ruling, settlement or unfavorable development could
result in future charges that could have a material adverse effect on the Company’s results of operations or cash
flows in any particular period. For a more detailed discussion of the legal proceedings involving the Company and the
associated accounting estimates, see the discussion in Note 14 “Commitments and Contingencies” within the Notes
to Consolidated Financial Statements.
Item 1B. Unresolved Staff Comments.
None.
Item 2. Properties.
3M’s general offices, corporate research laboratories, and certain division laboratories are located in St. Paul,
Minnesota. The Company operates 76 manufacturing facilities in 28 states. The Company operates 115
manufacturing and converting facilities in 38 countries outside the United States.
3M owns the majority of its physical properties. 3M’s physical facilities are highly suitable for the purposes for which
they were designed. Because 3M is a global enterprise characterized by substantial intersegment cooperation,
properties are often used by multiple business segments.
Item 3. Legal Proceedings.
Discussion of legal matters is incorporated by reference from Part II, Item 8, Note 14, “Commitments and
Contingencies,” of this document, and should be considered an integral part of Part I, Item 3, “Legal Proceedings.”
Item 4. Removed and Reserved.
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Equity compensation plans’ information is incorporated by reference from Part III, Item 12, “Security Ownership of
Certain Beneficial Owners and Management and Related Stockholder Matters,” of this document, and should be
considered an integral part of Item 5. At January 31, 2011, there were 104,261 shareholders of record. 3M’s stock is
listed on the New York Stock Exchange, Inc. (NYSE), the Chicago Stock Exchange, Inc., and the SWX Swiss
Exchange. Cash dividends declared and paid totaled $.525 per share for each quarter of 2010, and $.51 per share
for each quarter of 2009. Stock price comparisons follow:
Stock price comparisons (NYSE composite transactions)
(Per share amounts)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Year
2010 High .................................................
$
85.17
$
90.52
$
88.38
$
91.49
$
91.49
2010 Low ..................................................
77.25
67.98
77.04
83.00
67.98
2009 High ..................................................
$
59.81
$
61.46
$
76.00
$
84.32
$
84.32
2009 Low ...................................................
40.87
48.72
57.81
71.62
40.87