3M 2012 Annual Report Download - page 65
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amount, the existing quantitative impairment test is required. Otherwise, no further impairment testing is required. For 3M,
this ASU is effective beginning January 1, 2013, with early adoption permitted under certain conditions. The adoption of
this standard is not expected to have a material impact on 3M’s consolidated results of operations or financial condition.
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other
Comprehensive Income. Under this standard, entities will be required to disclose additional information with respect to
changes in accumulated other comprehensive income (AOCI) balances by component and significant items reclassified
out of AOCI. Expanded disclosures for presentation of changes in AOCI involve disaggregating the total change of each
component of other comprehensive income (for example, unrealized gains or losses on available for sale marketable
securities) as well as presenting separately for each such component the portion of the change in AOCI related to (1)
amounts reclassified into income and (2) current-period other comprehensive income. Additionally, for amounts
reclassified into income, disclosure in one location would be required, based upon each specific AOCI component, of the
amounts impacting individual income statement line items. Disclosure of the income statement line item impacts will be
required only for components of AOCI reclassified into income in their entirety. Therefore, disclosure of the income
statement line items affected by AOCI components such as net periodic benefit costs would not be included. The
disclosures required with respect to income statement line item impacts would be made in either the notes to the
consolidated financial statements or parenthetically on the face of the financial statements. For 3M, this ASU is effective
beginning January 1, 2013. Because this standard only impacts presentation and disclosure requirements, its adoption
will not have a material impact on 3M’s consolidated results of operations or financial condition.