3M 2014 Annual Report Download - page 4
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2010 2011 2012 2013 2014
$31.8$30.9$29.9$29.6$26.7
$5
$15
$25
$10
$20
$30
$35
$0
Sales (billions)
2010 2011 2012 2013 2014
$2.54$2.36$2.20$2.10
$0.50
$1.50
$2.00
$1.00
$2.50
$3.00
$3.50
$0.00
Cash dividends paid per share
2010 2011 2012 2013 2014
$6.72 $7.49$6.32$5.96$5.63
$8.00
$6.00
$4.00
$2.00
$0.00
Earnings per share-diluted
Investing in Innovation is our second lever. The heartbeat of 3M is research and
development. It fosters unique solutions for customers, which drives our strong
organic growth. A steady ow of new products is also key to sustaining 3M’s
premium margins and return on invested capital.
In 2014 we invested $1.8 billion in research and development. This includes
funding 26 new product platforms specically aimed at generating new,
sustainable growth through disruptive technologies. Seven of those programs
are already in the early stages of commercialization.
Our third lever is Business Transformation, which will make us more agile, more
ecient, and most importantly, more responsive to customers. The backbone
of this eort is implementation of a global Enterprise Resource Planning
system. 3M made good progress in 2014, including a successful deployment in
our largest European distribution center.
Ultimately, Business Transformation will provide the systems and processes
to drive productivity through our supply chain, reduce inventory, and deliver
greater value to customers.
A Science-Based Company
Driving 3M’s success is the strength of our business model and the skill of our
people, including our 8,500 scientists around the world.
On this report’s cover, you see 3M’s new tagline: 3M Science. Applied to Life.
™
Those words embody the spirit of our enterprise. 3M harnesses the power
of science to make the world safer, more ecient and more prosperous. We
use science to solve impossible challenges with our customers, and to stretch
toward our vision of advancing every company, enhancing every home and
improving every life.
In May 2014, 3M earned its 100,000th patent globally, testament to the power
of our scientic engine.
In fall 2015, we will strengthen that engine even more with the grand opening
of our new laboratory in St. Paul. That state-of-the-art facility will house many
of our best and brightest scientists, who will develop and rene new and core
technologies that bolster 3M labs and businesses around the world. It is an
investment that represents our steadfast commitment to scientic discovery,
and is critical to enhancing our competitive edge into the future.
Looking across our enterprise, I see a company that is delivering strong
and broad-based results today, and that is well-positioned to build on that
momentum in 2015 and beyond.
I thank 3M shareholders for your condence, 3M customers
for their trust and partnership, and 3M employees for their passion
and commitment.
Inge G. Thulin
Chairman of the Board,
President and Chief Executive Ocer
February 12, 2015
$3.42
2