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66
The previously reported before-tax amounts of other comprehensive income before reclassifications and amounts
reclassified out of other comprehensive income for the years ended December 31, 2012 and 2011 relative to foreign
currency forward contracts in the table above and the table below were impacted by the immaterial revisions discussed in
Note 11.
Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M
Amount Reclassified from
(Millions) Accumulated Other Comprehensive Income
Location on Income
Statement
Details about Accumulated Other
Comprehensive Income Components
Year ended
December 31,
2013
Year ended
December 31,
2012
Year ended
December 31,
2011
Gains (losses) associated with, defined
benefit pension and postretirement plans
amortization
Transition asset
$
1
$
1
$
2
See Note 10
Prior service benefit
77
84
75
See Note 10
Net actuarial loss
(647)
(700)
(552)
See Note 10
Total before tax
(569)
(615)
(475)
Tax effect
197
219
168
Provision for income
taxes
Net of tax
$
(372)
$
(396)
$
(307)
Debt and equity security gains (losses)
Sales or impairments
of securities
$
―
$
―
$
(10)
Selling, general and
administrative expenses
Total before tax
―
―
(10)
Tax effect
―
―
4
Provision for income
taxes
Net of tax
$
―
$
―
$
(6)
Cash flow hedging instruments gains
(losses)
Foreign currency forward/option
contracts
$
(11)
$
41
$
(87)
Cost of sales
Foreign currency forward contracts
(108)
42
(30)
Interest expense
Commodity price swap contracts
(2)
(10)
(6)
Cost of sales
Interest rate swap contracts
(1)
(1)
―
Interest expense
Total before tax
(122)
72
(123)
Tax effect
45
(26)
44
Provision for income
taxes
Net of tax
$
(77)
$
46
$
(79)
Total reclassifications for the period,
net of tax
$
(449)
$
(350)
$
(392)
Purchase and Sale of Subsidiary Shares
In March 2013, 3M sold shares in 3M India Limited, a subsidiary of the Company, in return for $8 million. The
noncontrolling interest shares of this subsidiary trade on a public exchange in India. This sale of shares complied with an
amendment to Indian securities regulations that required 3M India Limited, as a listed company, to achieve a minimum
public shareholding of at least 25 percent. As a result of this transaction, 3M’s ownership in 3M India Limited was reduced
from 76 percent to 75 percent. The $8 million received in the first quarter of 2013 was classified as other financing activity
in the consolidated statement of cash flows. Because the Company retained its controlling interest, the sales resulted in
an increase of 3M Company shareholder’s equity of $7 million and an increase in noncontrolling interest of $1 million.
As discussed in Note 2, in early March 2011, 3M acquired a controlling interest in Winterthur Technologie AG
(Winterthur), making Winterthur a consolidated subsidiary as of that business acquisition date. Subsequent to this
business acquisition date, 3M purchased additional outstanding shares of its Winterthur subsidiary increasing 3M’s
ownership interest from approximately 86 percent as of the business acquisition date to 100 percent as of December 31,
2011. The $57 million of cash paid in 2011 as a result of these additional purchases of Winterthur shares was classified
as other financing activity in the consolidated statement of cash flows. These additional purchases did not result in a