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Supplemental Equity and Comprehensive Income Information | 12 Months Ended
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Dec. 31, 2018
Supplemental Equity and Comprehensive Income Information |
Supplemental Equity and Comprehensive Income Information | NOTE 8. 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 $1.36, $1.175 and $1.11 per share for each quarter in 2018, 2017 and 2016, respectively, which resulted in total year declared and paid dividends of $5.44, $4.70 and $4.44 per share, respectively. Transfer of Ownership Interest Involving Non-Wholly Owned Subsidiaries During 2018, a wholly owned subsidiary in India was sold to 3M India Limited, which is 75 percent owned by the Company. Because the Company retained its controlling interest in the subsidiary involved, the sale resulted in a deemed dividend to 3M, resulting in an increase in 3M Company shareholders’ equity and a decrease in noncontrolling interest. Refer to the Consolidated Statement of Changes in Equity for further details. 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, 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) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |  |  |  |  |
Amounts before reclassifications |  |  | (414) |  |  | 55 |  |  | 133 |  |  | (226) |
Amounts reclassified out |  |  | — |  |  | 606 |  |  | 96 |  |  | 702 |
Total other comprehensive income (loss), before tax |  |  | (414) |  |  | 661 |  |  | 229 |  |  | 476 |
Tax effect |  |  | (47) |  |  | (217) |  |  | (53) |  |  | (317) |
Total other comprehensive income (loss), net of tax |  |  | (461) |  |  | 444 |  |  | 176 |  |  | 159 |
Transfer of ownership involving non-wholly owned subsidiaries |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Balance at December 31, 2018, net of tax: |  | $ | (2,098) |  | $ | (4,832) |  | $ | 64 |  | $ | (6,866) |
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) |  | 2018 |  | 2017 |  | 2016 |  | Statement |
Gains (losses) associated with defined benefit pension and postretirement plans amortization |  |  |  |  |  |  |  |  |  |  |  |
Transition asset |  | $ | — |  | $ | — |  | $ | 1 |  | See Note 13 |
Prior service benefit |  |  | 76 |  |  | 89 |  |  | 92 |  | See Note 13 |
Net actuarial loss |  |  | (678) |  |  | (570) |  |  | (506) |  | See Note 13 |
Curtailments/Settlements |  |  | (4) |  |  | (2) |  |  | (8) |  | See Note 13 |
Total before tax |  |  | (606) |  |  | (483) |  |  | (421) |  |  |
Tax effect |  |  | 145 |  |  | 116 |  |  | 148 |  | Provision for income taxes |
Net of tax |  | $ | (461) |  | $ | (367) |  | $ | (273) |  |  |
Cash flow hedging instruments gains (losses) |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward/option contracts |  | $ | (95) |  | $ | 8 |  | $ | 110 |  | Cost of sales |
Interest rate swap contracts |  |  | (1) |  |  | (1) |  |  | (1) |  | Interest expense |
Total before tax |  |  | (96) |  |  | 7 |  |  | 109 |  |  |
Tax effect |  |  | 19 |  |  | (3) |  |  | (39) |  | Provision for income taxes |
Net of tax |  | $ | (77) |  | $ | 4 |  | $ | 70 |  |  |
Total reclassifications for the period, net of tax |  | $ | (538) |  | $ | (363) |  | $ | (203) |  |  |

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