3M 2011 Annual Report Download - page 74

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68
The following table summarizes the effects of the 2010 and 2009 transactions on equity attributable to 3M Company
shareholders for the respective periods.
(Millions) 2010 2009
Net income attributable to 3M ............................. $ 4,085
$3,193
Transfer from (to) noncontrolling interest ................... 43
(81 )
Change in 3M Company shareholders’ equity from net income
attributable to 3M and transfers from (to) noncontrolling interest
$
4,128
$3,112
NOTE 7. Supplemental Cash Flow Information
(Millions) 2011 2010 2009
Cash income tax payments, net of refunds ............................. $ 1,542
$ 1,509 $ 834
Cash interest payments .......................................................... 219
178 233
Capitalized interest .................................................................. 19
17 27
Cash interest payments include interest paid on debt and capital lease balances, including net interest
payments/receipts related to accreted debt discounts/premiums, as well as net interest payments/receipts associated
with interest rate swap contracts.
Individual amounts in the Consolidated Statement of Cash Flows exclude the impacts of acquisitions, divestitures
and exchange rate impacts, which are presented separately. “Other — net” in the Consolidated Statement of Cash
Flows within operating activities in 2011, 2010 and 2009 includes changes in liabilities related to 3M’s restructuring
actions (Note 4).
Transactions related to investing and financing activities with significant non-cash components are as follows:
x During 2010, Sumitomo 3M purchased a portion of its shares held by its noncontrolling interest, Sumitomo
Electric Industries, Ltd. (SEI), by paying cash of 5.8 billion Japanese Yen and entering into a note payable to
SEI of 17.4 billion Japanese Yen. The cash paid as a result of the purchase of Sumitomo 3M shares from
SEI was classified as other financing activity in the consolidated statement of cash flows. The remainder of
the purchase financed by the note payable to SEI was considered non-cash financing activity in the first
quarter of 2010. This is described in Note 6 in the section entitled “Purchase and Sale of Subsidiary Shares
and Transfers of Ownership Interests Involving Non-Wholly Owned Subsidiaries”.
x Also in 2010, as discussed in Note 2, the Company recorded a financed liability of 1.7 billion Japanese Yen
related to the A-One acquisition.
x During 2009, 3M recorded a capital lease asset and obligation of approximately $50 million related to an IT
investment with an amortization period of seven years and contributed $600 million to its U.S. defined benefit
pension plan in shares of the Company’s common stock.