3M 2013 Annual Report Download - page 4

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2
$25
$15
$5
$10
$20
$30
0
$35
Net Sales (billions)
2011
$29.6
2012
$29.9
2009 2010
$23.1 $26.7
2013
$30.9
0
$2.00
$3.00
$1.00
$.50
$1.50
$2.50
Cash Dividends Paid Per Share
2012
$2.36
20112009 2010
$2.04 $2.10 $2.20
2013
$2.54
* As indicated in the Financial Summary on
page 4, certain years include net gains (losses)
related to sales of businesses, restructuring and
other items.
Consistent with our values and our longstanding commitment to sustainability, we formed
the “Center for 3M Sustainability.” We are embedding sustainability throughout the company
to contribute to a healthier world while simultaneously creating new business opportunities.
Most importantly, we accomplished all of this the right way – with uncompromising ethics
and integrity.
In December, we announced plans to better optimize our capital structure. These plans
will reduce our total cost of capital, allow us to further expand the company and enable
even higher returns to our shareholders. We also announced a 35 percent increase to our
first-quarter 2014 dividend, along with a stronger commitment to share repurchases.
This more aggressive deployment of capital reflects the strength of our business model
and our confidence in 3M’s future.
As a result of our strong performance last year, we remain on track to deliver on our
2013-17 financial goals:
•฀฀Grow฀earnings฀per฀share฀9-11฀percent฀per฀year,฀on฀average
•฀฀Grow฀organic฀sales฀4-6฀percent฀per฀year,฀on฀average
•฀฀Achieve฀return฀on฀invested฀capital฀of฀approximately฀20฀percent
•฀฀Convert฀approximately฀100฀percent฀of฀net฀income฀to฀free฀cash฀ow
$6.00
$4.00
$2.00
0
Earnings Per Share–Diluted*
2011
2009 2010 2013
$8.00 $5.96
$4.52 $5.63 $6.72
2012
$6.32