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12
Item 6. Selected Financial Data.
(Dollars in
millions, except per share amounts)
2010
2009
2008
2007
2006
Years ended December 31:
Net sales ...................................
$
26,662
$
23,123
$
25,269
$
24,462
$
22,923
Net income attributable to 3M ..................
4,085
3,193
3,460
4,096
3,851
Per share of 3M common stock:
Net income attributable to 3M — basic ........
5.72
4.56
4.95
5.70
5.15
Net income attributable to 3M — diluted .......
5.63
4.52
4.89
5.60
5.06
Cash dividends declared and paid per 3M
common share ...........................
2.10
2.04
2.00
1.92
1.84
At December 31:
Total assets .................................
$
30,156
$
27,250
$
25,793
$
24,699
$
21,294
Long-term debt (excluding portion due within one
year) and long-term capital lease obligations ...
4,277
5,204
5,224
4,088
1,112
Items included in the preceding table which had a significant impact on results are summarized as follows. 2010
included a one-time, non-cash income tax charge of $84 million, or 12 cents per diluted share, resulting from the
March 2010 enactment of the Patient Protection and Affordable Care Act, including modifications made in the Health
Care and Education Reconciliation Act of 2010. 2009 results included net losses that decreased operating income by
$194 million and net income attributable to 3M by $119 million. 2009 included restructuring actions ($209 million pre-
tax, $128 million after tax and noncontrolling interest), which were partially offset by a gain on sale of real estate ($15
million pre-tax, $9 million after tax). 2008 results included net losses that decreased operating income by $269 million
and net income attributable to 3M by $194 million. 2008 included restructuring actions ($229 million pre-tax, $147
million after-tax and noncontrolling interest), exit activities ($58 million pre-tax, $43 million after-tax) and losses
related to the sale of businesses ($23 million pre-tax, $32 million after-tax), which were partially offset by a gain on
sale of real estate ($41 million pre-tax, $28 million after-tax). 2007 results included net gains that increased operating
income by $681 million and net income attributable to 3M by $448 million. 2007 included gains related to the sale of
businesses ($849 million pre-tax, $550 million after-tax) and a gain on sale of real estate ($52 million pre-tax, $37
million after-tax), which were partially offset by increases in environmental liabilities ($134 million pre-tax, $83 million
after-tax), restructuring actions ($41 million pre-tax, $27 million after-tax), and exit activities ($45 million pre-tax, $29
million after-tax). 2006 results included net gains that increased operating income by $523 million and net income
attributable to 3M by $438 million. 2006 included net benefits from gains related to the sale of certain portions of 3M’s
branded pharmaceuticals business ($1.074 billion pre-tax, $674 million after-tax) and favorable income tax
adjustments ($149 million), which were partially offset by restructuring actions ($403 million pre-tax, $257 million
after-tax), acquired in-process research and development expenses ($95 million pre-tax and after-tax), settlement
costs of an antitrust class action ($40 million pre-tax, $25 million after-tax), and environmental obligations related to
the pharmaceuticals business ($13 million pre-tax, $8 million after-tax).