3M 2011 Annual Report Download - page 64

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58
NOTE 2. Acquisitions
3M makes acquisitions of certain businesses from time to time that the Company feels align with its strategic intent
with respect to, among other factors, growth markets and adjacent product lines or technologies.
The impact on the consolidated balance sheet of the purchase price allocations related to acquisitions, including
adjustments relative to other acquisitions within the allocation period, follows. The allocation of purchase price related
to certain acquisitions, primarily Winterthur Technologie AG (Winterthur) and the business purchased from GPI
Group, is considered preliminary, largely with respect to certain acquired intangible assets and tax-related assets and
liabilities.
2011 Acquisitions Activity
(Millions)
Asset (Liability)
Winterthur
Technologie AG
Other
Acquisitions Total
A
ccounts receivable ...................................... $ 45 $ 61 $ 106
Inventory ........................................................ 69 59 128
Other current assets ...................................... 6 36 42
Property, plant, and equipment ..................... 73 102 175
Purchased finite-lived intangible assets ........ 226 116 342
Purchased goodwill ....................................... 147 112 259
Accounts payable and other liabilities, net
of other assets ........................................... (70 ) (78) (148)
Interest bearing debt ..................................... (79 ) (24) (103)
Deferred tax asset/(liability) ........................... (58 ) (28) (86)
Net assets acquired ....................................... $ 359 $ 356 $ 715
Noncontrolling interest ................................... (56 )
—
(56)
Net assets acquired excluding noncontrolling
interest ....................................................... $ 303 $ 356 $ 659
Supplemental information:
Cash paid ...................................................... $ 327 $ 376 $ 703
Less: Cash acquired ...................................... 34 20 54
Cash paid, net of cash acquired .................... $ 293 $ 356 $ 649
Non-cash ....................................................... 10
—
10
Net assets acquired excluding noncontrolling
interest ....................................................... $ 303 $ 356 $ 659