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Supplemental Equity and Comprehensive Income Information | 12 Months Ended
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Dec. 31, 2017
Supplemental Equity and Comprehensive Income Information |
Supplemental Equity and Comprehensive Income Information | NOTE 7. Supplemental Equity and Comprehensive Income Information Common stock ($.01 par value per share) of 3.0 billion shares is authorized, with 944,033,056 shares issued. Preferred stock, without par value, of 10 million shares is authorized but unissued. Cash dividends declared and paid totaled $1.175 and $1.11 per share for each quarter in 2017 and 2016, respectively, which resulted in total year declared dividends of $4.70 and $4.44 per share, respectively. In 2015, 3M’s Board of Directors declared a second, third, and fourth quarter dividend of $1.025 per share, which resulted in total year 2015 declared dividends of $3.075 per share. In December 2014, 3M’s Board of Directors declared a first quarter 2015 dividend of $1.025 per share (paid in March 2015). Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component
|  |  |  |  | Defined Benefit |  | Cash Flow |  | Total |
|  |  |  |  | Pension and |  | Hedging |  | Accumulated |
|  | Cumulative |  | Postretirement |  | Instruments, |  | Other |
|  | Translation |  | Plans |  | Unrealized |  | Comprehensive |
(Millions) |  | Adjustment |  | Adjustment |  | Gain (Loss) |  | Income (Loss) |
Balance at December 31, 2014, net of tax: |  | $ | (1,095) |  | $ | (5,293) |  | $ | 99 |  | $ | (6,289) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts before reclassifications |  |  | (447) |  |  | 367 |  |  | 212 |  |  | 132 |
Amounts reclassified out |  |  | — |  |  | 537 |  |  | (174) |  |  | 363 |
Total other comprehensive income (loss), before tax |  |  | (447) |  |  | 904 |  |  | 38 |  |  | 495 |
Tax effect |  |  | (137) |  |  | (415) |  |  | (13) |  |  | (565) |
Total other comprehensive income (loss), net of tax |  |  | (584) |  |  | 489 |  |  | 25 |  |  | (70) |
Balance at December 31, 2015, net of tax: |  | $ | (1,679) |  | $ | (4,804) |  | $ | 124 |  | $ | (6,359) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts before reclassifications |  |  | (244) |  |  | (1,122) |  |  | 57 |  |  | (1,309) |
Amounts reclassified out |  |  | — |  |  | 421 |  |  | (109) |  |  | 312 |
Total other comprehensive income (loss), before tax |  |  | (244) |  |  | (701) |  |  | (52) |  |  | (997) |
Tax effect |  |  | (85) |  |  | 177 |  |  | 19 |  |  | 111 |
Total other comprehensive income (loss), net of tax |  |  | (329) |  |  | (524) |  |  | (33) |  |  | (886) |
Balance at December 31, 2016, net of tax: |  | $ | (2,008) |  | $ | (5,328) |  | $ | 91 |  | $ | (7,245) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts before reclassifications |  |  | 91 |  |  | (600) |  |  | (311) |  |  | (820) |
Amounts reclassified out |  |  | — |  |  | 483 |  |  | (7) |  |  | 476 |
Total other comprehensive income (loss), before tax |  |  | 91 |  |  | (117) |  |  | (318) |  |  | (344) |
Tax effect |  |  | 279 |  |  | 169 |  |  | 115 |  |  | 563 |
Total other comprehensive income (loss), net of tax |  |  | 370 |  |  | 52 |  |  | (203) |  |  | 219 |
Balance at December 31, 2017, net of tax: |  | $ | (1,638) |  | $ | (5,276) |  | $ | (112) |  | $ | (7,026) |
Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation does include impacts from items such as net investment hedge transactions. Reclassification adjustments are made to avoid double counting in comprehensive income items that are also recorded as part of net income. Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M
|  |  | Amounts Reclassified from |  |  |
Details about Accumulated Other |  |  | Accumulated Other Comprehensive Income |  |  |
Comprehensive Income Components |  |  | Year ended December 31, |  | Location on Income |
(Millions) |  |  | 2017 |  | 2016 |  | 2015 |  | Statement |
Gains (losses) associated with defined benefit pension and postretirement plans amortization |  |  |  |  |  |  |  |  |  |  |  |  |
Transition asset |  |  | $ | — |  | $ | 1 |  | $ | 1 |  | See Note 12 |
Prior service benefit |  |  |  | 89 |  |  | 92 |  |  | 79 |  | See Note 12 |
Net actuarial loss |  |  |  | (570) |  |  | (506) |  |  | (626) |  | See Note 12 |
Curtailments/Settlements |  |  |  | (2) |  |  | (8) |  |  | 9 |  | See Note 12 |
Total before tax |  |  |  | (483) |  |  | (421) |  |  | (537) |  |  |
Tax effect |  |  |  | 116 |  |  | 148 |  |  | 176 |  | Provision for income taxes |
Net of tax |  |  | $ | (367) |  | $ | (273) |  | $ | (361) |  |  |
Cash flow hedging instruments gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward/option contracts |  |  | $ | 8 |  | $ | 110 |  | $ | 178 |  | Cost of sales |
Commodity price swap contracts |  |  |  | — |  |  | — |  |  | (2) |  | Cost of sales |
Interest rate swap contracts |  |  |  | (1) |  |  | (1) |  |  | (2) |  | Interest expense |
Total before tax |  |  |  | 7 |  |  | 109 |  |  | 174 |  |  |
Tax effect |  |  |  | (3) |  |  | (39) |  |  | (63) |  | Provision for income taxes |
Net of tax |  |  | $ | 4 |  | $ | 70 |  | $ | 111 |  |  |
Total reclassifications for the period, net of tax |  |  | $ | (363) |  | $ | (203) |  | $ | (250) |  |  |

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